Fibonacci Trading with Bobokus | Page 64 | 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

  • #1,261
  • Jan 9, 2008 8:08am Jan 9, 2008 8:08am
What should i read to understand those fib studies? So far i only know how to use the fib levels from retracement. Where can i learn what are those areas onyour charts?
  • #1,262
  • Jan 9, 2008 8:38am Jan 9, 2008 8:38am
Quoting Luis Gustavo
What should i read to understand those fib studies? So far i only know how to use the fib levels from retracement. Where can i learn what are those areas onyour charts?
The retracement levels you see on my charts(the highlighted area) are where i base most of my entry's from, in the sense of do they hold price or does price break through them.I let price action in these areas detirmine the actual entry. From there I target the extentions T1's and T2.The different fibs you see are actually drawn from the Daily chart with the exception of Intraday and the small swing fibs, they are drawn fron the 1 hour on a daily basis, and get moved around alot.
Somewhere here in the thread are some exercises that can help show you where to draw then and how to follow price with them.
  • #1,263
  • Jan 9, 2008 9:54am Jan 9, 2008 9:54am
It seems from your last chart that you didn't use yesterday's (1/8) high/low fib for you trading for today? I know you have an intraday pulled. I was just curious about that and where you entered your trade last night. I love your trading strategy, the problem for me is the trades normally are all but exhausted by US open, hit their targets, done, period. Generally
PipHunter
  • #1,264
  • Jan 9, 2008 10:05am Jan 9, 2008 10:05am
Quoting Pip Hunter
It seems from your last chart that you didn't use yesterday's (1/8) high/low fib for you trading for today? I know you have an intraday pulled. I was just curious about that and where you entered your trade last night. I love your trading strategy, the problem for me is the trades normally are all but exhausted by US open, hit their targets, done, period. Generally
Actually I did use the Intraday fib of yesterday,I placed sell limit orders at 1.9765 and 1.9745, the 1.9745 was picked up.I closed on the T1 of yesterday.Ive moved it now to today since the target has been met and I am in the reset mode waiting for price to find a bottom here and hit it again, once todays Intraday fib is established.
Me i ususually will trade only the London session since it has a better tendancy for smoother moves.The US session use to be the same but the market changes over time and there will be a time when the US session will return to better trading conditions.
  • #1,265
  • Jan 9, 2008 10:12am Jan 9, 2008 10:12am
Quoting Bobokus
Actually I did use the Intraday fib of yesterday,I placed sell limit orders at 1.9765 and 1.9745, the 1.9745 was picked up.I closed on the T1 of yesterday.Ive moved it now to today since the target has been met and I am in the reset mode waiting for price to find a bottom here and hit it again, once todays Intraday fib is established.
Me i ususually will trade only the London session since it has a better tendancy for smoother moves.The US session use to be the same but the market changes over time and there will be a time when the US session will return to better trading conditions.
The 1.9745 was your pivot right? Man, easy pip'n and now you can pack it up for the day. Not bad Bo.

Since your east coast (if I remember correctly), does that mean yu get up at 1 or 2am to trade?
PipHunter
  • #1,266
  • Jan 9, 2008 10:25am Jan 9, 2008 10:25am
Quoting Pip Hunter
The 1.9745 was your pivot right? Man, easy pip'n and now you can pack it up for the day. Not bad Bo.

Since your east coast (if I remember correctly), does that mean yu get up at 1 or 2am to trade?
yes 1.9745 was yesterdays pivot, and yes i am done for the day. I am central time zone (Alabama), but i will normally get my fibs set by the open of each day whigh is 6PM for me.I will usually get up around 11PM to 12AM and get my stop orders or whatever set then, try to get a nap and up at 2-3AM to trade, if everything is going good i will try and get some rest before the US open.So its a night of catnapping basically.
  • #1,267
  • Jan 9, 2008 11:04am Jan 9, 2008 11:04am
Dear Sir,

I've gone thru your analysis about fibonacci, could you pls give me more information (training) on it to enable me have a good insight about it cos am a new trader.

Thanks,

Michael.
  • #1,268
  • Jan 9, 2008 11:35am Jan 9, 2008 11:35am
Best thing I know is to go through the thread and practice the exercises I have in here, they can help show you how to place fibs and follow price with them.
  • #1,269
  • Jan 9, 2008 11:59am Jan 9, 2008 11:59am
I'm done for the day. It was a funny old day for me. Taking the pips too early !!

I must learn to use the FORCE .. the Fib-FORCE and let the profits run !!
  • #1,270
  • Jan 9, 2008 12:40pm Jan 9, 2008 12:40pm
Quoting Moxy_UK
I'm done for the day. It was a funny old day for me. Taking the pips too early !!

I must learn to use the FORCE .. the Fib-FORCE and let the profits run !!
Dont sweat it, you put positive pips in the bank thats all that matters.The next day will most likely provide another opportunity.
  • #1,271
  • Jan 9, 2008 7:05pm Jan 9, 2008 7:05pm
Tonight Id like to see a repeat of last night, but a few things are in the way.For price to rally tonight and test the Intraday levels of today its going to have to get past 1.9589 from the Major uptrend (Long) Level.
If it can clear 1.9589, the Short fib level of today is 1.9632, i dont think im going to set a sell limit tonight, ill let price action detirmine my entry.
What i dont like about taking the break of the low is we came very close to 1.9540 the Retracement target today and it still may offer support ,I would have to see that break before i enter a short on the break of the low.
There is some room to try a scalping long if price breaks the 1.9589 level back to the fib levels of the Intraday fib from today so thats another option ill be looking at... a choppy market and i will not take the long scalp.
Regardless we need a small waveform to pull a swing fib no matter which way it decides to break, and definatley once a trade has been entered.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp0110.gif Size: 31 KB
  • #1,272
  • Jan 9, 2008 7:25pm Jan 9, 2008 7:25pm
Quoting Bobokus
Best thing I know is to go through the thread and practice the exercises I have in here, they can help show you how to place fibs and follow price with them.
Hey Bo, are the exercises the numbered charts with comments you posted? If not, are they in one general area or just throughout?

Sorry, didn't finish the thread with all the things going on

I'm going to check my chart with your to make sure everything is correct. How do you get those fancy colors on your chart!
PipHunter
  • #1,273
  • Jan 9, 2008 7:27pm Jan 9, 2008 7:27pm
Quoting Pip Hunter
Hey Bo, are the exercises the numbered charts with comments you posted? If not, are they in one general area or just throughout?

Sorry, didn't finish the thread with all the things going on

I'm going to check my chart with your to make sure everything is correct. How do you get those fancy colors on your chart!
Ill go back and find em then post the pages here in a sec
  • #1,274
  • Jan 9, 2008 7:33pm Jan 9, 2008 7:33pm
Hey Bo,

Do you mind posting a template so I can be sure my chart is the same as yours?
  • #1,275
  • Jan 9, 2008 7:33pm Jan 9, 2008 7:33pm
Quoting Pip Hunter
Hey Bo, are the exercises the numbered charts with comments you posted? If not, are they in one general area or just throughout?

Sorry, didn't finish the thread with all the things going on

I'm going to check my chart with your to make sure everything is correct. How do you get those fancy colors on your chart!
The short Swing fib exercise is on page 17, post 244-247
Part2 of the swing fib exercise is on page 18, posts 257-261

Daily price following is page 74-75,posts 1101-1119
  • #1,276
  • Jan 9, 2008 7:36pm Jan 9, 2008 7:36pm
Quoting Bobokus
Ill go back and find em then post the pages here in a sec
Oh that's great, thank you! I assume that for the best setup you would rather have price move back in among the inner fibs so that you can enter from that area rather than having it break a high or low area without retracing first, normally right? Because I read what your plan is for tonight.
PipHunter
  • #1,277
  • Jan 9, 2008 7:37pm Jan 9, 2008 7:37pm
Quoting Thexder
And 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.
I'm looking forward to your journal (if you don't mind posting it). Your last one helped me immensely.
  • #1,278
  • Jan 9, 2008 7:43pm Jan 9, 2008 7:43pm
Quoting Pip Hunter
Oh that's great, thank you! I assume that for the best setup you would rather have price move back in among the inner fibs so that you can enter from that area rather than having it break a high or low area without retracing first, normally right? Because I read what your plan is for tonight.
Yes that would be a better set up to trade from, last night was a prime example of it.
And I edited the posts with the exercises there is a part 2 sorta to the swing fib on page 18.posts 257-261
  • #1,279
  • Jan 9, 2008 7:45pm Jan 9, 2008 7:45pm
Quoting Jared
I'm looking forward to your journal (if you don't mind posting it). Your last one helped me immensely.

He does, Thexders journal is in the journal threads here on FF.
  • #1,280
  • Jan 9, 2008 7:56pm Jan 9, 2008 7:56pm
Quoting Bobokus
He does, Thexders journal is in the journal threads here on FF.
Ah, thanks. I didn't know.
23 traders viewing now