Fibonacci Trading with Bobokus | Page 32 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

What is the Differences between Fibonacci Fan and Fibonacci Arcs 15 replies

fibonacci trading log 2 replies

Need help Bobokus Fibo template 1 reply

Pulos Bill - The Truth About Fibonacci Trading (Attached) 4 replies

Attachments: Fibonacci Trading with Bobokus
Exit Attachments

Fibonacci Trading with Bobokus

  • #621
  • Nov 15, 2007 6:56pm Nov 15, 2007 6:56pm
Here is my template for GBP with the fibs on it already as well.The range fib and the swing fib are on the chart but not placed since we have no move to put them on as of yet
Attached File(s)
File Type: tpl swingtraderfibs.tpl   7 KB | 875 downloads
  • #622
  • Nov 15, 2007 6:59pm Nov 15, 2007 6:59pm
Should look like this once you get it loaded
Attached Image (click to enlarge)
Click to Enlarge Name: gbp1115a.gif Size: 29 KB
  • #623
  • Nov 15, 2007 7:13pm Nov 15, 2007 7:13pm
This is nothing more than a momentum indicator set to different specs.The actual signal line of the original indicator has been blacked out and Ive added a Smoothed 2ma and a Linear weighted 12 to represent a crossing to show swing or momentum changes, you only want to trade in the direction of the Indicator.The Orange signal line is the leader and the Blue dashed represents price.When they cross its an indication that price is outrunning the average price...momentum change.I also have a Linear weighted 64 on the same indicator to represent price in a longer point of view...when the 2 (Orange and Blue) signal lines cross the white one its a prety good signal.
Same as with any indicator they lag as price has to change first then they react to that.
I wanted this indicator to show once a Fib level is broken does it have good momentum ?
  • #624
  • Nov 15, 2007 7:18pm Nov 15, 2007 7:18pm
This one is a modified Awsome Oscillator, it is set to match as close as possible the strength of the current 1 hour trend...built around the 64 envelope.If you notice it changes over its pivot line when price crosses over the envelope.The bars represent the current strength of the movement in referrence to the 1 hour trend and change color accordingly.Orange is down ...Blue is up.As the strength of the trend deminishes the bars become smaller.If the strength picks back up again they will reverse their color and follows along as each waveform unfolds.
  • #625
  • Nov 15, 2007 10:57pm Nov 15, 2007 10:57pm
Bob,

How are you doing? Your thread is very informative about fibs. I was wondering were you got your fib drawing tools. Do you have them available on FF or can you direct me to where I can down load the tools for MT4.

Thanks
  • #626
  • Nov 16, 2007 4:46am Nov 16, 2007 4:46am
Quoting worldfreedom
Bob,

How are you doing? Your thread is very informative about fibs. I was wondering were you got your fib drawing tools. Do you have them available on FF or can you direct me to where I can down load the tools for MT4.

Thanks
I just reprogrammed the standard fib tool that comes with the MT4 platform. A few posts ago I put a template in there and if you use that template it will have all the fib sets on it already.
  • #627
  • Nov 16, 2007 5:16am Nov 16, 2007 5:16am
So far this morning it appears the Daily short fib will hold on the first test of it.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp1115b.gif Size: 26 KB
  • #628
  • Nov 16, 2007 5:25am Nov 16, 2007 5:25am
Looks as if 224.15 level is gonna hold for this pair as well, If USD/Yen can rally back now this pair should start to follow suit.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpyen1115.gif Size: 26 KB
  • #629
  • Nov 16, 2007 5:38am Nov 16, 2007 5:38am
1200 and 1600 candles need to both close above 2.0368 to protect the downside for today, If they dont the door to more downsliding is open
Attached Image (click to enlarge)
Click to Enlarge Name: gbp4_1115.gif Size: 27 KB
  • #630
  • Nov 16, 2007 6:09am Nov 16, 2007 6:09am
If they can a candle back above 2.0430 they can get the downside pressure off for the meantime,and we should test the 2.0490/2.0540 range again.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp1115c.gif Size: 27 KB
  • #631
  • Nov 16, 2007 8:51am Nov 16, 2007 8:51am
We'll we got our candle above 2.0430, and as we expected the test of 2.0490. Now 2.0520/2.0550 should provide a top now if price has enough momentum to get through the 64 envelope.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp1115d.gif Size: 26 KB
  • #632
  • Nov 16, 2007 9:02am Nov 16, 2007 9:02am
GBP/Yen loks as if its hit a peak as well now.T1/T2 of the last swing were dead on.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpyen1115a.gif Size: 26 KB
  • #633
  • Nov 16, 2007 9:14am Nov 16, 2007 9:14am
Where we go from this swing now will detirmine the direction going into next week since its Friday and this may be the last move of the week here.Close below 2.0408 and well continue to pressure the downside.A close above the open of today and we should see the topside resistance tested early next week.
It may be a little early to be looking that far ahead from the 1 hour timeframe but its friday and if we dont start getting some sort of selloff or anything to that nature it should consolidate pretty soon.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp1115e.gif Size: 20 KB
  • #634
  • Nov 16, 2007 9:14am Nov 16, 2007 9:14am
Quoting Bobokus
GBP/Yen loks as if its hit a peak as well now.T1/T2 of the last swing were dead on.
Leave town already....jeeze!
Robonacci com
  • #635
  • Nov 16, 2007 9:17am Nov 16, 2007 9:17am
Quoting SKUNNY
Leave town already....jeeze!
LOL, i did ,im driving down I10 now...
  • #636
  • Nov 16, 2007 9:19am Nov 16, 2007 9:19am
Quoting Bobokus
LOL, i did ,im driving down I10 now...
You are a mess! Let it go and stop thinking 4X for a while, your wife deserves it !
Robonacci com
  • #637
  • Nov 16, 2007 9:42am Nov 16, 2007 9:42am
I'm up to back testing from Nov 1 thru Nov 9 with swing breaks and I count 174 pips earned after spread. This includes accounting for potential slippage losses noted on spikes that trigger an order and sail toward targets. I assume worst case and deduct the spike. Sometimes this results in something like +3 pips out of a possible +27 move in my notes. And of course lots of subjectivity on how to update swing levels as time progresses in the day.

In those 9 days the swing pivot has been highly respected. After an order is triggered, the closest I've seen price come to getting stopped out is 8 pips of security, 10, and then the rest of the trades all stay around 20 pips away from a stop level.

There are 14 trades documented so far.

I think next I'll switch over to a week full of whipsaws maybe in October and see how it looks. I expect the rest of november's backtrading to be as successful as the first 9 days.
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #638
  • Nov 16, 2007 9:47am Nov 16, 2007 9:47am
Where can i learn more about fibo expension?
  • #639
  • Nov 16, 2007 9:49am Nov 16, 2007 9:49am
Hi bob,

It's been great trading using fibs. I have been doing great with fibs. Now i can change my "10 pips a day" to "30 pips a day, Keep More bills away" LOL.

Once again, thanks for your guidance, but i still have some questions thou.
how do u usually enter a position? I sometimes enter the position too late or too early.

Cheers
10 pips a day, keep all my bills away.
  • #640
  • Nov 16, 2007 9:51am Nov 16, 2007 9:51am
Quoting Thexder
I'm up to back testing from Nov 1 thru Nov 9 with swing breaks and I count 174 pips earned after spread. This includes accounting for potential slippage losses noted on spikes that trigger an order and sail toward targets. I assume worst case and deduct the spike. Sometimes this results in something like +3 pips out of a possible +27 move in my notes. And of course lots of subjectivity on how to update swing levels as time progresses in the day.

In those 9 days the swing pivot has been highly respected. After an order is triggered, the closest I've seen price come to getting stopped out is 8 pips of security, 10, and then the rest of the trades all stay around 20 pips away from a stop level.

There are 14 trades documented so far.

I think next I'll switch over to a week full of whipsaws maybe in October and see how it looks. I expect the rest of november's backtrading to be as successful as the first 9 days.
Hi Thexder,

May i know how you do your backtesting? Are you using the Vhandstrade trade thing for MT4?
10 pips a day, keep all my bills away.
2 traders viewing now