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  • #1,861
  • Jan 29, 2008 7:11am Jan 29, 2008 7:11am
Quoting Big Wave Rider
He Bo, I tried all of your indicators but I cannot change it to the next swing set. It always stays where ever the hell it feels like. How can I add your fibo's to MT4 so I can draw them up manually? Thanks
Did you ever get the template loaded ?. I forgot to mention you can right click on the template I posted and select (save as) and download it to your desktop then load it manually into your platform template file. Thats the only way other than editing each fib and change the levels and names from the fibs properties.
  • #1,862
  • Jan 29, 2008 7:14am Jan 29, 2008 7:14am
Quoting ChowClown
Thanks Bo, so you set up orders right on the long / short fibs, rather than assessing price action, say, on smaller TFs around those levels before entering?
Once the price goes into a trending type move yes I will use buy and sell limit orders around the fib levels. Its not purely mechanical though different situations require different strategy's of attack. Personally I dont use any timeframe lower than the 1 hour.
  • #1,863
  • Jan 29, 2008 7:17am Jan 29, 2008 7:17am
Quoting Bobokus
Did you ever get the template loaded ?. I forgot to mention you can right click on the template I posted and select (save as) and download it to your desktop then load it manually into your platform template file. Thats the only way other than editing each fib and change the levels and names from the fibs properties.
Yeah I got it on finally, I'm just trying to figure out how to apply it to other pairs, when I load it on EU for example it dosn't look right. and plus I would like to draw the fibs manually so I can use it with E.W
I'll figure this crap out, it might take a year but I'll get it.
Nice Video by the way, When I heard that Texas draw the song "Beer, Bait and Ammo" came to mind, now it won't leave You got yer finshin hooks en yer dirty books.....
Just Trade It
  • #1,864
  • Jan 29, 2008 7:21am Jan 29, 2008 7:21am
Quoting Big Wave Rider
Yeah I got it on finally, I'm just trying to figure out how to apply it to other pairs, when I load it on EU for example it dosn't look right. and plus I would like to draw the fibs manually so I can use it with E.W
I'll figure this crap out, it might take a year but I'll get it.
Nice Video by the way, When I heard that Texas draw the song "Beer, Bait and Ammo" came to mind, now it won't leave You got yer finshin hooks en yer dirty books.....

Ahh ok , i gotcha now. The template was meant for GBP only, if you want to transfer the fibs to other charts just simply select the fib you want to move and go to the properties, all you have to do is view the fib levels tab, you dont have to change anything, once you view the levels of it close it and it becomes the default fib and can be drawn on another chart, the problem is you'll have to move each one, one at a time.
  • #1,865
  • Jan 29, 2008 7:40am Jan 29, 2008 7:40am
I see whats causing this short this morning there was much better than expected news from durable good from US this AM. Confused me for about 15 seconds there. And following suit they adjust the previous numbers to better than they posted last time. The Fed, you gotta love the volitility they create. Nothing wrong with taking advantage of it.
Attached Image (click to enlarge)
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  • #1,866
  • Jan 29, 2008 7:49am Jan 29, 2008 7:49am
Ok, so here is my 2 pips on Cable

We should be in a 3 of 3. (should) If we are than this should not retrace further than the 200 ema. this will provide support. If not then we will find support on the retracement high, all signs point to a shallow retracement, but then again my count could be wrong and my alternative count has this baby finished (5of 3) and going into wave 4 which would be a bigger retracement.
But it has already established its self on the other side of the 200 so I don't see it going much lower than this, if it does than it should only be a spike.
Either way I'm ready and waiting.

Oh, my target was 161.8 extension of wave 1 and 2 (red circle)
Attached Image (click to enlarge)
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Just Trade It
  • #1,867
  • Jan 29, 2008 7:56am Jan 29, 2008 7:56am
Quoting Big Wave Rider
Ok, so here is my 2 pips on Cable

We should be in a 3 of 3. (should) If we are than this should not retrace further than the 200 ema. this will provide support. If not then we will find support on the retracement high, all signs point to a shallow retracement, but then again my count could be wrong and my alternative count has this baby finished (5of 3) and going into wave 4 which would be a bigger retracement.
But it has already established its self on the other side of the 200 so I don't see it going much lower than this, if it does than it should only be a spike.
Either way I'm ready and waiting.

Oh, my target was 161.8 extension of wave 1 and 2 (red circle)

Same sentiment here, I was looking for 1.9950 today but the Fed just threw a monkey in the wrench again today so it may have to go through another bounce as long as support holds and the market movers dont change their minds.
  • #1,868
  • Jan 29, 2008 8:05am Jan 29, 2008 8:05am
Quoting Bobokus
Same sentiment here, I was looking for 1.9950 today but the Fed just threw a monkey in the wrench again today so it may have to go through another bounce as long as support holds and the market movers dont change their minds.

Thats the way the markets have been lately, Grab 100 pips and run like you stole them from the mob, only now its grab 20 pips and run. In most pairs we are still in a corrective cycle or pattern which is very tough to trade because they dont trend. This could be the begging of going back into the long term trend but I think wall st. has a good sell off or two left before we find a bottom. IMO. But I am normally wrong when it comes to saying what Wall st. should do.
Just Trade It
  • #1,869
  • Jan 29, 2008 8:12am Jan 29, 2008 8:12am
Quoting Big Wave Rider
Thats the way the markets have been lately, Grab 100 pips and run like you stole them from the mob, only now its grab 20 pips and run. In most pairs we are still in a corrective cycle or pattern which is very tough to trade because they dont trend. This could be the begging of going back into the long term trend but I think wall st. has a good sell off or two left before we find a bottom. IMO. But I am normally wrong when it comes to saying what Wall st. should do.

Once they figure out the economy isnt as bad as the fear mongers paint it things will start to return to normal, The Fed dropping rates was a mistake I think, adding to the fear, wheres Greenspan when you need him.
  • #1,870
  • Jan 29, 2008 8:15am Jan 29, 2008 8:15am
Bo, thanks for the video. I appreciate all that you are doing to help us to become good traders.
  • #1,871
  • Jan 29, 2008 8:16am Jan 29, 2008 8:16am
Quoting Bobokus
Once they figure out the economy isnt as bad as the fear mongers paint it things will start to return to normal, The Fed dropping rates was a mistake I think, adding to the fear, wheres Greenspan when you need him.
He was out talking about a global reccesion the other night
I only heard sound bites not the whole thing, but the fact those words came out of his mouth I'm surprised we have not hit the floor yet.
Just Trade It
  • #1,872
  • Jan 29, 2008 8:20am Jan 29, 2008 8:20am
Quoting pwegner
Bo, thanks for the video. I appreciate all that you are doing to help us to become good traders.

Your welcome.
  • #1,873
  • Jan 29, 2008 8:22am Jan 29, 2008 8:22am
Quoting Big Wave Rider
He was out talking about a global reccesion the other night
I only heard sound bites not the whole thing, but the fact those words came out of his mouth I'm surprised we have not hit the floor yet.
You would think he's got some trades running in the currency market ?...LOL
  • #1,874
  • Jan 29, 2008 8:30am Jan 29, 2008 8:30am
Quoting Bobokus
Same sentiment here, I was looking for 1.9950 today but the Fed just threw a monkey in the wrench again today so it may have to go through another bounce as long as support holds and the market movers dont change their minds.
Hi Bo - I'm a lurker here, but keep checking in and learning new things http://www.forexfactory.com/images/icons/icon7.gif

Just wondered if you also look at pivots, 'cause 1.9950 is todays M4 line and I have 9960 off my hourly fibs, so for "safety" I'd be looking to exit at the lower number - IF I was still long.
Trading Levels with WRBs
  • #1,875
  • Jan 29, 2008 8:37am Jan 29, 2008 8:37am
Quoting Islander
Hi Bo - I'm a lurker here, but keep checking in and learning new things http://www.forexfactory.com/images/icons/icon7.gif

Just wondered if you also look at pivots, 'cause 1.9950 is todays M4 line and I have 9960 off my hourly fibs, so for "safety" I'd be looking to exit at the lower number - IF I was still long.
1.9950 was the Intraday target, dont think its gonna make today now though. But no I dont use pivots, just fibs and price action. If 1.9850 gives way today we may go sideways for a while, or even correct down to the Retracement fib levels, just have to wait and see. Its up to those who can make the price change all we can do is ride their coat tails.
  • #1,876
  • Edited 2:15pm Jan 29, 2008 2:15pm | Edited 2:15pm
Hi Bo, I had a couple questions. I notice that you dont use the 62 Envelope like in the beginning of the thread. What are you using now for trend determination? What is the MA you have and where can I get it?

What changes would you recommend if I only trade the gbp/jpy as far as pa, entries, etc.?

Thank you...Joe in Fl
  • #1,877
  • Jan 29, 2008 2:45pm Jan 29, 2008 2:45pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting Bobokus
I made a quick sample video on the fib tool , so if someone will go and check it, too me the sound is really low and I cant hear it very well but it may be on my end since ive had that before. Its my first attempt at making one so dont laugh too hard. Just let me know if you can hear it.

http://www.youtube.com/watch?v=Eo1rmbCH5-o
Hi Bo
thanks for the video, sound was a little quiet, but it can be turned up all fine

question, which of the many fib indicators posted here did you use?

regards

MPP
  • #1,878
  • Jan 29, 2008 2:52pm Jan 29, 2008 2:52pm
Quoting MPP
Hi Bo
thanks for the video, sound was a little quiet, but it can be turned up all fine

question, which of the many fib indicators posted here did you use?

regards

MPP
I do everything manually, it helps get your mind set as you go through setting up your chart.
  • #1,879
  • Jan 29, 2008 2:59pm Jan 29, 2008 2:59pm
Quoting jcarrier
Hi Bo, I had a couple questions. I notice that you dont use the 62 Envelope like in the beginning of the thread. What are you using now for trend determination? What is the MA you have and where can I get it?

What changes would you recommend if I only trade the gbp/jpy as far as pa, entries, etc.?

Thank you...Joe in Fl
I dont need the envelope it was only meant to help new traders see the trending moves on the hourly chart.
The ma you see is a version of a hull MA I got it from a thread here on FF, Slope Direction I think, I tried it too see if its any benefit I could use to help with some training but I dont think it will work for that.
For GBP/Yen...just follow USD/Yen and wait for Cable to break in the same direction the USD/Yen is and thats when GBP/Yen makes its big moves.
  • #1,880
  • Jan 29, 2008 3:13pm Jan 29, 2008 3:13pm
Quoting Bobokus
The ma you see is a version of a hull MA I got it from a thread here on FF, Slope Direction I think
I went through that one too but couldn't apply it to what was going on in my mind. Did I hear a little straw gnawing at some point in that video by the way or was that just microphone noise?
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
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