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Fibonacci Trading with Bobokus

  • #1,961
  • Jan 31, 2008 12:36am Jan 31, 2008 12:36am
TOO COOL!
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Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #1,962
  • Jan 31, 2008 12:54am Jan 31, 2008 12:54am
Morning, from London.

This is how i'm set up at the moment - yesterday's range fibbed for this morning's intraday 'watch zone' plus the Asian swing...biased long from action since 00:00 gmt and waiting now for a test of the swing fibs to see if they'll continue to support longs.
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  • #1,963
  • Edited 6:30am Jan 31, 2008 2:56am | Edited 6:30am
Bo

I didn't plan to look at this, but I did, and here's my thought process on the GYen H1. The news drop would need to retrace, so I would look for it to try to at least reach the 38 Intraday, probably further, it moved short and 2 candles broke the IDay Low, I've learned that is strong for a move long, and price went to my Swing T2 telling me it was going toward an Intraday Level. It retraced, made the pin bar, another good sign for the continue long, and formed the double bottom, and from what I've seen, that's also strong. I walked the Swing fib. The new Swing T1, the Retrace fib Long level and IDay Pivot level are congregated, and that looks like the logical next target.

Missed the Swing T1 by 1 pip, hit IDay Pivot to the pip.

In my mental trade of this I aggressively entered @ the Swing Long 211.40

I remember you said that we should look to go short if we are below the TZ of the IDay, but doesn't the typical price action, which is the retrace of that type move) after a big drop/rise become more weighty to the guide? (or do I have that backwards?)

This is fun!
How'my donin'?
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Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #1,964
  • Jan 31, 2008 3:08am Jan 31, 2008 3:08am
Quoting wave catcher
Hello Bobokus,

I am new to your thread and very interested in learning how to use the fib tool to make better trading decisions. I have watched the videos you have posted and I am currently going through the posts at the new starting point. Is there anywhere you can point me too to get a good explanation on the 3 fibs that you set up (names, time frames, etc.) just to make it easier to follow the thread. Any help is greatly appreciated.

Thanks,
wc

Or you can read this, it's all of Bo's trades from November. All you have to do is read the first 20 pages then you understand how Bo trades using Fibos.
Attached File(s)
File Type: pdf Fibonacc Breakout Trade Notes November 2007.pdf   488 KB | 2,169 downloads
Just Trade It
  • #1,965
  • Jan 31, 2008 3:31am Jan 31, 2008 3:31am
Hey Galaxymom, here is my take on GY, even though I don't trade it, I watch it for my EJ and AJ trades. GY is too much like gambling and too volatile for me, however it moves first then E.J then A.J (less volatile) anyways here is the 1hr

It did closed below the last swing pivot and went past the swing short, however we have the 200 ema standing in the way,(redline) which it just bounced off of. If you want to go short on this wait until it goes beyond the 200.
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Just Trade It
  • #1,966
  • Jan 31, 2008 3:37am Jan 31, 2008 3:37am
Here is GY on the Daily, lets see if it respects the Fibo fan.
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Just Trade It
  • #1,967
  • Jan 31, 2008 3:57am Jan 31, 2008 3:57am
Bo

In your examples, in these posts, you moved the Intraday Fib High. Have I misunderstood, I thought once pulled for the new day you left it in place?

http://www.forexfactory.com/showpost...&postcount=454

http://www.forexfactory.com/showpost...&postcount=455

Thanks
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #1,968
  • Jan 31, 2008 4:33am Jan 31, 2008 4:33am
Quoting Big Wave Rider
Or you can read this, it's all of Bo's trades from November. All you have to do is read the first 20 pages then you understand how Bo trades using Fibos.

i think this pdf is thexders trading notes
  • #1,969
  • Edited 5:03am Jan 31, 2008 4:49am | Edited 5:03am
...swing long break. Would ordinarily close any open trades prior to confidence news etc, but the fibs are helping me to hold onto winners...thanks again BO!

9931 high with my broker so might be considered a T1 hit - profit locked in quite tight now. All in, all out with 1 lot. Find I learn best 'on the job' - rather than paper trading.
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  • #1,970
  • Jan 31, 2008 5:05am Jan 31, 2008 5:05am
Quoting ChowClown
...swing long break.
And a new high after a half hour long stall of ascending triangle consolidation.
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #1,971
  • Jan 31, 2008 5:08am Jan 31, 2008 5:08am
[quote=ChowClown;18290109931 high with my broker so might be considered a T1 hit - profit locked in quite tight now.[/quote]

...bish, bash, bosh....dosh
  • #1,972
  • Jan 31, 2008 5:09am Jan 31, 2008 5:09am
I had a wider swing from 9832 to 9907 and its T1 is hit now too
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #1,973
  • Jan 31, 2008 5:13am Jan 31, 2008 5:13am
damn work to hell anyway. i just missed out on a perfect 45 pips because of a stupid meeting. ah well...
there'll be more moves...
  • #1,974
  • Jan 31, 2008 5:16am Jan 31, 2008 5:16am
Quoting jicjoc
damn work to hell anyway. i just missed out on a perfect 45 pips because of a stupid meeting. ah well...
there'll be more moves...
LOL, that is the beauty of this biz
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #1,975
  • Jan 31, 2008 5:17am Jan 31, 2008 5:17am
Quoting Thexder
And a new high after a half hour long stall of ascending triangle consolidation.
....yes, still amazes me how different methods/strats can generate the same entry decisions. My journey is now 7 years in (quit the day job and went fulltime Jan 1st) and i've finally found a few more of the missing pieces to the puzzle - thanks to you guys here and Skunny et al, to take the plan to higher levels.
  • #1,976
  • Jan 31, 2008 5:19am Jan 31, 2008 5:19am
Quoting ChowClown
....yes, still amazes me how different methods/strats can generate the same entry decisions..
Another funny thing, I think the Intraday High on your chart is the Intraday Long on my chart - still works.
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"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #1,977
  • Jan 31, 2008 5:27am Jan 31, 2008 5:27am
I just cashed out. Doesn't matter what it does now, it's history. I had to choose a top because I don't much like this week of ranging barely 250 pips end to end. Bring back the trend....bring back the trend....
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #1,978
  • Jan 31, 2008 5:31am Jan 31, 2008 5:31am
Quoting Thexder
I just cashed out. Doesn't matter what it does now, it's history. I had to choose a top because I don't much like this week of ranging barely 250 pips end to end. Bring back the trend....bring back the trend....
aye...let 'em tee up the next one. I've had a tough week so far, but time yet to make the difference.
  • #1,979
  • Jan 31, 2008 5:46am Jan 31, 2008 5:46am
Quoting ChowClown
aye...let 'em tee up the next one. I've had a tough week so far, but time yet to make the difference.
It was a good top, I decided to bail as soon as I saw a new nudge downward since all the trade activity had higher lows, even during the half hour sideways....soon as it made a lower low...I'm gone.

My performance this week so far over 4 days has yielded about one normal good trade from any other week...one more day left I guess if nothing else happens this morning.
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #1,980
  • Jan 31, 2008 6:56am Jan 31, 2008 6:56am
Quoting Pooch
Hello all I am making my first post but have been watching this thread and using vhands for some time.

I have a couple of questions:

a) In using vhands I have noticed that some areas of support and resistance line up with subsequent fibonaccis while others do not line up at all. My question is would these areas where they line up be the best places to pull the fibonacci from.

b) I have also been using the bottom and top of multi bar advance/retracements and places where there has been a double or triple as places to pull the fibonacci from.

I ask because these are places where in using vhands I find seem to give the most accurate retracements.

Am I on the right track

Thanks for all your help this thread is most useful

Pooch
If I understand this correctly I think what your describing sounds like what I will use the Swing fib for.
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