Hey Bobo, seen your vids a while back, excellent work.
Fibs rule.
Fibs rule.
Fibonacci Trading with Bobokus
- #2,862
- Apr 4, 2008 12:44pm Apr 4, 2008 12:44pm
Wow, I have just been through the thread and will like the add to what has already have said enough times Thank you Sir for this wonderful thread, its been an education for the past couple of weeks, I feel just by going through your thread and doing the exercises I have just been elevated from elementary school of Fibs to Grade school, though still a long way before I become a graduate student of Fibs.
I have read afew threads in FF but havent found one has informative, educative and easily understandable as yours, also will like to thank all the numerous contributions to this threads Thredx, Galaxymom, thanx for sharing your wealth of experience.
Now the learning continues, Skunny thread has been mention enough times so off to that thread and also Thredx journals and also learning Vhands, and they always say playing Forex is easy
.
Your humble student
Class '08
I have read afew threads in FF but havent found one has informative, educative and easily understandable as yours, also will like to thank all the numerous contributions to this threads Thredx, Galaxymom, thanx for sharing your wealth of experience.
Now the learning continues, Skunny thread has been mention enough times so off to that thread and also Thredx journals and also learning Vhands, and they always say playing Forex is easy
.Your humble student
Class '08
- #2,863
- Apr 6, 2008 4:42pm Apr 6, 2008 4:42pm
- | Commercial User | Joined Oct 2006 | 2,560 Posts
Wow, I have just been through the thread and will like the add to what has already have said enough times Thank you Sir for this wonderful thread, its been an education for the past couple of weeks, I feel just by going through your thread and doing the exercises I have just been elevated from elementary school of Fibs to Grade school, though still a long way before I become a graduate student of Fibs.
I have read afew threads in FF but havent found one has informative, educative and easily understandable as yours, also will like to thank all the numerous contributions to this threads Thredx, Galaxymom, thanx for sharing your wealth of experience.
Now the learning continues, Skunny thread has been mention enough times so off to that thread and also Thredx journals and also learning Vhands, and they always say playing Forex is easy
Your humble student
Class '08
- #2,875
- Apr 8, 2008 7:22am Apr 8, 2008 7:22am
Wow. After one night, I'm truly impressed with fib's (was looking at G/U and G/J).
On G/U. Price broke the swing short fib then came back to test the swing short fib and was rejected. This is also below downtrend short fib so we are preferencing short conditions if my interpretation is correct. Additionally, price was rejected at intraday short fib, so another reason for preferencing bears.
OK. So we have a case to move South. Now what about the targets? So far we've hit Swing T1 and T2.
Also hit intraday T1 and T2.
When placing trades are your targets based off whether your trading decision was based on break out of intraday fibs or either the swing fibs. I.e. in this case, I look at my computer a little late and I see price is already below intraday short, but hasn't broke out of swing short. If price breaks swing short fib, then I enter there with TP at Swing T1 T2, and if I have a 3rd lot, then at Intraday T1?
Currently, is Downtrend T1 the ultimate target? Do we not worry about it, because it may take a long time to get there, even though we know price will eventually reach it.
In the meantime, we continue pulling our intraday fibs and swing fibs and we use those for shorter timeframe targets. As far as pulling new intraday and swing fibs I have another question.
For Intraday, do we continue pulling the fib from the high 2.0047 to each new low that is created. Or if a target is reached we pull the fib from the high of the smaller move that hit the target? I.e. pull intraday from 1.9926 to the new low that will be created?
The swing fibs I would think we simply pull on the upmove retracement, so that one is pretty straightforward.
Apologize about the many questions, just trying to get my fibs straight. I think I may have a new love in my trading. Sorry RSI - I still love you, but Ms. Fib is the new girl on the block.
On G/U. Price broke the swing short fib then came back to test the swing short fib and was rejected. This is also below downtrend short fib so we are preferencing short conditions if my interpretation is correct. Additionally, price was rejected at intraday short fib, so another reason for preferencing bears.
OK. So we have a case to move South. Now what about the targets? So far we've hit Swing T1 and T2.
Also hit intraday T1 and T2.
When placing trades are your targets based off whether your trading decision was based on break out of intraday fibs or either the swing fibs. I.e. in this case, I look at my computer a little late and I see price is already below intraday short, but hasn't broke out of swing short. If price breaks swing short fib, then I enter there with TP at Swing T1 T2, and if I have a 3rd lot, then at Intraday T1?
Currently, is Downtrend T1 the ultimate target? Do we not worry about it, because it may take a long time to get there, even though we know price will eventually reach it.
In the meantime, we continue pulling our intraday fibs and swing fibs and we use those for shorter timeframe targets. As far as pulling new intraday and swing fibs I have another question.
For Intraday, do we continue pulling the fib from the high 2.0047 to each new low that is created. Or if a target is reached we pull the fib from the high of the smaller move that hit the target? I.e. pull intraday from 1.9926 to the new low that will be created?
The swing fibs I would think we simply pull on the upmove retracement, so that one is pretty straightforward.
Apologize about the many questions, just trying to get my fibs straight. I think I may have a new love in my trading. Sorry RSI - I still love you, but Ms. Fib is the new girl on the block.
"Wishful thinking dies hard." Igor T.
- #2,876
- Apr 8, 2008 7:52am Apr 8, 2008 7:52am
- | Commercial User | Joined Oct 2006 | 2,560 Posts
Wow. After one night, I'm truly impressed with fib's (was looking at G/U and G/J).
On G/U. Price broke the swing short fib then came back to test the swing short fib and was rejected. This is also below downtrend short fib so we are preferencing short conditions if my interpretation is correct. Additionally, price was rejected at intraday short fib, so another reason for preferencing bears.
OK. So we have a case to move South. Now what about the targets? So far we've hit Swing T1 and T2.
Also hit intraday T1 and T2.
When placing trades are your targets based off whether your trading decision was based on break out of intraday fibs or either the swing fibs. I.e. in this case, I look at my computer a little late and I see price is already below intraday short, but hasn't broke out of swing short. If price breaks swing short fib, then I enter there with TP at Swing T1 T2, and if I have a 3rd lot, then at Intraday T1?
Currently, is Downtrend T1 the ultimate target? Do we not worry about it, because it may take a long time to get there, even though we know price will eventually reach it.
In the meantime, we continue pulling our intraday fibs and swing fibs and we use those for shorter timeframe targets. As far as pulling new intraday and swing fibs I have another question.
For Intraday, do we continue pulling the fib from the high 2.0047 to each new low that is created. Or if a target is reached we pull the fib from the high of the smaller move that hit the target? I.e. pull intraday from 1.9926 to the new low that will be created?
The swing fibs I would think we simply pull on the upmove retracement, so that one is pretty straightforward.
Apologize about the many questions, just trying to get my fibs straight. I think I may have a new love in my trading. Sorry RSI - I still love you, but Ms. Fib is the new girl on the block.
But under more normal conditions it isnt necessary to this in a normal trending move the Intraday targets will suffice from the 1 hour.
