Fibonacci Trading with Bobokus | Page 137 | 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

  • #2,721
  • Edited 2:17am Mar 13, 2008 2:07am | Edited 2:17am
Its seems like we are having some sort of a pullback so i place my smallest fibbs....i will also be using them as limits if price breaks down...what do you guys think

Attached Image (click to enlarge)
Click to Enlarge Name: 333.gif Size: 18 KB


100sma is acting as resistance...lets what happens

we are geting a bounce on 61.8 we might some resistance on 200 sma orange cable...This can make price get bearish...

I will be updating the chart when i see something new....
  • #2,722
  • Mar 13, 2008 2:12am Mar 13, 2008 2:12am
Quoting jets211990
Tell me what you think this is what i see on the one hour chart...iam waiting for a break of it....what i also like is that the price has broken sma 100 and 200 so know i see them as strong resistance...what do you guys think?



Attachment


I would be placing my limit at at intraday t1....or close some of my positions what do you guys think?

Looks like your Intraday is pulled too far into today. An Intraday should be pulled from the High and Low of Yesterday, unless there is some continuation from the day before yesterday. It could include a candle or 2 of the current day, but looking at your chart, your Intraday Should have stopped on yesterday's low.
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #2,723
  • Mar 13, 2008 2:17am Mar 13, 2008 2:17am
Quoting jets211990
Its seems like we are having some sort of a pullback so i place my smallest fibbs....i will also be using them as limits if price breaks down...what do you guys think

Attachment

we are geting a bounce on 61.8 we might some resistance on 200 sma orange cable...

I will be updating the chart when i see something new....
Redraw your Intraday Fib, then pull a Swing fib on the move down and another on the retrace and see where you think price is going. That's my advise.
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #2,724
  • Mar 13, 2008 2:25am Mar 13, 2008 2:25am
Quoting galaxymom
Redraw your Intraday Fib, then pull a Swing fib on the move down and another on the retrace and see where you think price is going. That's my advise.


Attached Image (click to enlarge)
Click to Enlarge Name: 333.gif Size: 20 KB

Do you think that is better?


Either way do you think its better to wait for it to leave the bigger zone first...
  • #2,725
  • Mar 13, 2008 2:34am Mar 13, 2008 2:34am
Quoting jets211990
Attachment
Do you think that is better?


Either way do you think its better to wait for it to leave the bigger zone first...
Like this, then you can pull another fib on the up move if you like.
Attached Image (click to enlarge)
Click to Enlarge Name: ec.gif Size: 16 KB
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #2,726
  • Edited 3:56am Mar 13, 2008 2:50am | Edited 3:56am
This is seems better....(i hope lol) well the yellow rectangle is the intraday zone....and the red one is the bigger zone...since price is withing it i rather wait for a break of the bigger zone...am i right...

Attached Image (click to enlarge)
Click to Enlarge Name: 333.gif Size: 18 KB


Updated chart

I think price is finding a stong stupport at the 61.8 fib...what i like is that if i do enter the price long it show that the trend was strong enought to take out the 100 sma and 200 sma...Purple cable = 100 sma orange cable = 200 sma

Seems like price is also having problems braking 100 sma....the way i see the 100 sma is as a inner trendline and the 200 sma as a exterior trendline...i dont use them as a cross...but more as support or resistance...

Chart Update

Price is still finding resistance at 100 sma....and support 61.8 fib...expecting a breakout...i believe its more bearish..since price would have to breack 100 sma and 200 sma and coutertrend fib 61.8
Update chart
price attemting to breack 61.8 fibb


can you guys let me know the place limit would be placed...intraday t1 or t1,t2?

Last update....AHHHHHHHHHH lmao...it never gave me an entry it when straight for the intraday t1 green fib...lmao it suck...well at least iam happy i was right on my forecast...either way can someone let me know if my limit was the right one....or if it should of been the smaller..and lastly if i had my fibs right...i really hope i did...thanks guys help me out...
  • #2,727
  • Mar 13, 2008 5:47am Mar 13, 2008 5:47am
Quoting galaxymom
Like this, then you can pull another fib on the up move if you like.
GM,
Sincerely you are doing a great job i must commend you for that,I hope Bo love your kind assistance to the newbie.
Accurate asnwers to our questions.
Thanks.
  • #2,728
  • Mar 13, 2008 8:15am Mar 13, 2008 8:15am
Attached Image (click to enlarge)
Click to Enlarge Name: 333.gif Size: 17 KB
  • #2,729
  • Mar 13, 2008 8:31am Mar 13, 2008 8:31am
Quoting jets211990
Attachment
I think you are drawing your swing fib too soon. If you you use the previous high and low, you can see that the fib had retraced into the swing zone and is now favoring short. You can also tell that the price did enter the intraday zone.
Attached Image (click to enlarge)
Click to Enlarge Name: Delete.JPG Size: 82 KB
  • #2,730
  • Mar 13, 2008 8:38am Mar 13, 2008 8:38am
Quoting logiktrader
I think you are drawing your swing fib too soon. If you you use the previous high and low, you can see that the fib had retraced into the swing zone and is now favoring short. You can also tell that the price did enter the intraday zone.
Thanks...i have a question what made you take the decision of placeing your fib from that high...and how come you dont place a counter fibb...?
  • #2,731
  • Mar 13, 2008 8:48am Mar 13, 2008 8:48am
Quoting jets211990
Thanks...i have a question what made you take the decision of placeing your fib from that high...and how come you dont place a counter fibb...?

Only use the retracement on the daily level. The retracement fibs would be too close together if we were drawing them on the H4 and H1 level. The reason why I placed them that high is because that was the last significant high on the 1H level.
  • #2,732
  • Mar 13, 2008 8:57am Mar 13, 2008 8:57am
I see what you are saying...but that would mean less trades since we would be locking ourself into 2 fibbs primarly...?....i might be completly wrong so let me know...
  • #2,733
  • Mar 13, 2008 9:15am Mar 13, 2008 9:15am
You are right my friend. You don't want to force trades by drawing more fib lines. Daily and Intraday fibs are more reliable than swing fibs. If you were to draw a retracement from a swing fib, you would have too many trading opportunities and you would lose a high percentage of the time.

Due to my limited screen time, I still see 1-3 trading opportunities per day by looking at a few currencies pairs.
  • #2,734
  • Mar 13, 2008 9:27am Mar 13, 2008 9:27am
Quoting logiktrader
You are right my friend. You don't want to force trades by drawing more fib lines. Daily and Intraday fibs are more reliable than swing fibs. If you were to draw a retracement from a swing fib, you would have too many trading opportunities and you would lose a high percentage of the time.

Due to my limited screen time, I still see 1-3 trading opportunities per day by looking at a few currencies pairs.
ok now i understand what you are saying...since you like to use biggre fibb...then your stops are always bigger...right...so now iam going to post this chart...and let me know if this could be a possibel way you can set it up since they are bigger fibbs....

Attached Image (click to enlarge)
Click to Enlarge Name: 333.gif Size: 15 KB


Both zone are overlaying...can you enter short since we had a break last candle?
  • #2,735
  • Mar 13, 2008 9:34am Mar 13, 2008 9:34am
Price aso had a break of a smaller swing...so i feel like i have a double confermation...

Attached Image (click to enlarge)
Click to Enlarge Name: 333.gif Size: 17 KB
  • #2,736
  • Mar 13, 2008 9:37am Mar 13, 2008 9:37am
I just got into the trade short when the new candle had oppened let me know if it was a bad decision thanks guys...
  • #2,737
  • Mar 13, 2008 9:41am Mar 13, 2008 9:41am
Quoting jets211990
I just got into the trade short when the new candle had oppened let me know if it was a bad decision thanks guys...
It looks like a good short setup.
  • #2,738
  • Mar 13, 2008 9:41am Mar 13, 2008 9:41am
T1 the black is my limit....what do you guys think...its also near the low of the biggest swing...

Attached Image (click to enlarge)
Click to Enlarge Name: 333.gif Size: 18 KB
  • #2,739
  • Mar 13, 2008 9:42am Mar 13, 2008 9:42am
Quoting logiktrader
It looks like a good short setup.
Thanks alot for helping me out...thanks for your cooperation alot!!!!!!!!!!
  • #2,740
  • Mar 13, 2008 9:43am Mar 13, 2008 9:43am
Quoting jets211990
T1 the black is my limit....what do you guys think...its also near the low of the biggest swing...

Attachment
I am not sure if Bobokus had defined an exact TP/SL level for every trade.

I usually set T1 for my target level, and then a few pips above the long if going short, or a few pips below the short if going long for my stop loss.
15 traders viewing now