Hey Bobo, seen your vids a while back, excellent work.
Fibs rule.
Fibs rule.
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
DislikedWow, 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 '08Ignored
DislikedNewbie trader trying to broaden my fib understanding. I've watched the video's quite a few times and been trying to set-up my fibs, but it's proving slightly more difficult than anticipated. If someone could help me out a bit, would be much appreciated!
OK. Here's the problem. I started on the Daily downswing and set-up daily fibs. High of 2.1147 and Low of 1.9343.
Then I set-up an Intermediate upswing. Intermediate High 2.0400 and Intermediate Low 1.9361.
Then switched to 1 hr. Placed 62 MA's (Low and High) and then created Range downswing. Range High 2.0047 and Range Low 1.9834.
Now I'm confused. On Bobo's 1st page he says to create an Intraday set too. Wouldn't this just be my range set that I already have on my chart?
Also, in the S/R video, he set's up the fibs a little differently and uses the tool to gauge reversals and also continuation's. I understand the purpose, but I'm confused. At what point do we use that?
I guess I'm confused as to how to fully set-up the charts from the beginning and then switch into the support/resistance fib settings. Can someone please exlpain or point out to where I need to go in this huge thread?
I've attached my daily screen shots and 1 hr screen shots. Hopefully someone can help me out, perhaps Bobokus if you still monitor this thread. The grey lines are hand drawn sup/res levels I placed on the chart previously.Ignored
DislikedNewbie trader trying to broaden my fib understanding. I've watched the video's quite a few times and been trying to set-up my fibs, but it's proving slightly more difficult than anticipated. If someone could help me out a bit, would be much appreciated!
OK. Here's the problem. I started on the Daily downswing and set-up daily fibs. High of 2.1147 and Low of 1.9343.
Then I set-up an Intermediate upswing. Intermediate High 2.0400 and Intermediate Low 1.9361.
Then switched to 1 hr. Placed 62 MA's (Low and High) and then created Range downswing. Range High 2.0047 and Range Low 1.9834.
Now I'm confused. On Bobo's 1st page he says to create an Intraday set too. Wouldn't this just be my range set that I already have on my chart?
Also, in the S/R video, he set's up the fibs a little differently and uses the tool to gauge reversals and also continuation's. I understand the purpose, but I'm confused. At what point do we use that?
I guess I'm confused as to how to fully set-up the charts from the beginning and then switch into the support/resistance fib settings. Can someone please exlpain or point out to where I need to go in this huge thread?
I've attached my daily screen shots and 1 hr screen shots. Hopefully someone can help me out, perhaps Bobokus if you still monitor this thread. The grey lines are hand drawn sup/res levels I placed on the chart previously.Ignored
DislikedThank you very much for the template and the explanation. It really helps so I can learn how to set it up correctly for other curreny pairs too.
I notice you didn't include the MA envelope. Do you still use them to assist? It looked like you used them to help to confirm that a move might be over.
Thank you again, and will be trying to apply price action to the fibs this week.
Question - Also, in the screen shot you posted your Swing High Fib @1.9922 was then followed by a new high @ 1.9926. I moved the fib so that became my new swing high. Am I correct in moving the fib?Ignored
DislikedHi Bob,
Just a quick question after today's session will you still leave your Intraday Fibs to the high of friday 2.0049 or will you move it to the high of Monday/tuesday, I guess we will be moving the Low to the Low of today.
ThanksIgnored
DislikedJust wondering why you move your fibs to the high of Monday and not the high of Fibs.
ThanksIgnored
DislikedHi Bob,
Thanks as always for your quick and prompt response, cable seem to be taking a beat 2day,its d bearish season.Ignored
DislikedWow. 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.Ignored