"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
fibonacci trading log 2 replies
Need help Bobokus Fibo template 1 reply
DislikedYouve really picked this up and made it your own and thats what it is all about, finding your niche and I believe youve found yours.Ignored
Haven't tried daily much, I'll test it more and get back to you. I don't mind a large drawdown if I am very confident in my trade. So far I haven't had the confidence for a large drawdown so I have been trading on the hour charts keeping in mind the bias of the daily.Ignored
DislikedI just went through 2 years on the daily with vHands. It was very profitable in testing but I still don't think I have confidence to wait out massive drawdowns that last 2-3 months. However, I didn't get stopped out at all during the test.Ignored
Quick question Sir, The Intermediate fib has the possiblity of going lower than the low of my daily fib level if this happens then the intermediate fib should become the new Daily or am I thinking all wrong? Thanks. Hope you and your family had a good Holiday!!
P.S. This is on the gbp/usd since I didnt metion that earlier!!Ignored
DislikedAnd I'm out with both lots combining to give just under 100 pips if counting it as 2 separate trades. And sure enough the charts are dive bombing just after I exit.
I'll post in my journal what I did.Ignored
I decided wine-o trading again and it's working out!
I'm long cable from the swing break out and using the M1 for stop walking, with 2 mini lots. One got stopped out around swing T2 and the other is still in play, it just struck intraday T1 and is retracing now. Either way I've locked in around +30 pips banked and the other stop is in play to give another +30 and counting, or more if the M1 shows a new bottom to move up to near Intraday T1.
I'll post the pretty pictures in my journal when it's all over. I've killed the emotion. It's all strictly business now. Or wait...is Drunk an emotion??
Update: JUst hit Intraday T2, but no new place to move my stop yet, waiting for the spike retracement. My open trade is around +70 right now.Ignored
DislikedSorry wasn't able to get back to this til now.Ignored
DislikedLooking forward to reading this. Great trading . Will be interesting to compare your notes with Bo's later.
I was on the sidelines watching, following on the 1hr TF. Have yet to define a coherent fib plan.Ignored