Fibonacci Trading with Bobokus | Page 170 | 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

  • #3,381
  • May 7, 2008 5:20am May 7, 2008 5:20am
Nice trade, I got in on the cable short and got sum good pips in the bank,now that Fundies r out of the way do you think cable is going to fall any further or the bulls might be coming into play?

Thanks
  • #3,382
  • Edited 5:40am May 7, 2008 5:26am | Edited 5:40am
nice trading...who knows? Thankfully, we don't need to become too pre-occupied with which way they will take it...we can jump on their backs whatever happens....there's US news out later that might increase momentum again to help with the next setup.
  • #3,383
  • May 7, 2008 5:50am May 7, 2008 5:50am
Quoting ChowClown
nice trading...who knows? Thankfully, we don't need to become too pre-occupied with which way they will take it...we can jump on their backs whatever happens....there's US news out later that might increase momentum again to help with the next setup.

Picture Perfect is what I call those. Test of the pivot and failure leading to a target 2 hit from the Intraday. What Id like to see now is some continuation now and get this every night the rest of the week. Get back into some of those trending pips.
  • #3,384
  • May 7, 2008 5:55am May 7, 2008 5:55am
Quoting Bobokus
What Id like to see now is some continuation now and get this every night the rest of the week. Get back into some of those trending pips.
yes, a return to 'normal service' seems long overdue
  • #3,385
  • Edited 6:09am May 7, 2008 5:59am | Edited 6:09am
Thanks for the reply Chowclown,so we wait for the next set of fundies and play it from there, Bob now that T2 on the Intraday Fib has been reach, do we move the Fibs and watch PA or do we move down to the new low from the low of yesterday?

Cheers
  • #3,386
  • May 7, 2008 6:09am May 7, 2008 6:09am
Quoting zerosum
Thanks for the reply,so we wait for the next set of fundies and play it from there, Bob now that T2 on the Intraday Fib has been reach, do we move the Fibs and watch PA or do we move down to the new low from the low of yesterday?

Cheers
Since the targets from yesterdays Intraday have been met I will go ahead and move mine up and look for it to try and retrace to establish a low.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp0506.gif Size: 20 KB
  • #3,387
  • May 7, 2008 7:07am May 7, 2008 7:07am
Hi all,
Just thought I'd post this summary of how I see the fibs on the 1 hr gbpusd for now
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD Update May. 07 22.02.jpg Size: 166 KB
Without women, money would have no meaning - Aristotle Onassis
  • #3,388
  • May 7, 2008 7:48am May 7, 2008 7:48am
Quoting mattfx
Hi all,
Just thought I'd post this summary of how I see the fibs on the 1 hr gbpusd for now

Nice job, you follow along with price very nicely
  • #3,389
  • May 7, 2008 8:20am May 7, 2008 8:20am
We are looking to 1.9360 now on the daily, with little chance for a retrace on the hourly chart, now that the low has been broken, there does not seem to be much support in our way, the latest news was contrary, all up I see it as inflationary which should give strength to the USD
Without women, money would have no meaning - Aristotle Onassis
  • #3,390
  • May 7, 2008 12:40pm May 7, 2008 12:40pm
Hi Bobokus,

please could you tell me how Daily Targets are calculated from BobokusFibo indicator??

I try with different Fibo levels and they don't match.
Attached Image
  • #3,391
  • May 7, 2008 12:44pm May 7, 2008 12:44pm
Quoting magictrader
Hi Bobokus,

please could you tell me how Daily Targets are calculated from BobokusFibo indicator??

I try with different Fibo levels and they don't match.

Not sure I never used the Indicator. Someone reading the thread must have written that so I couldnt tell ya.
  • #3,392
  • May 7, 2008 12:55pm May 7, 2008 12:55pm
Quoting Bobokus
Not sure I never used the Indicator. Someone reading the thread must have written that so I couldnt tell ya.
ok, thanks.
  • #3,393
  • May 7, 2008 6:13pm May 7, 2008 6:13pm
Looking for price to come up a bit ant try our intrday levels today..

Looking good to short later tonight

Attached Image (click to enlarge)
Click to Enlarge Name: 111.gif Size: 47 KB
  • #3,394
  • May 7, 2008 7:00pm May 7, 2008 7:00pm
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
I see strong daily support at 1.9500 when I zoom out. Oil still running higher. Dollar is not gaining as much strength. Dow sold off today. I think a strong move South would come from a surprise BoE rate cut tomorrow and she could drop far (or some other negative GBP news). But if rates remain the same, and dollar shows some weakening I see us retracing a lot of the move today. I would like to see a retrace to our intraday levels so she can gain a little steam to break through 1.9500 (or even let us know where she wants to go).

Will also be watching U/J PA at intraday levels too. If she breaks below 104.57 I think G/U has a good shot of retracing much of today's move. Although U/J has been on a tear lately. 105.56 is the point I'm looking for U/J to break as I see a lot of daily resistance there and if that happens cable will be moving South (I have no idea how far though).

By the way, did anyone notice how cable was dropping last night a few minutes before the announcement. Just thought it was "interesting"..lol. Looks like inside info.

Also, I really don't understand the dollar strengthening right now. I can see a bearish move on cable though as the UK economy seems to be heading in a similar direction as United States.

Just my 2 cents guys.
"Wishful thinking dies hard." Igor T.
  • #3,395
  • May 7, 2008 7:18pm May 7, 2008 7:18pm
From the Daily chart 1.9480 might show support (its the T1 of the original retracement from Cables last push up, Daily chart is below) so I would be wary around this area taking the break of the low since we may see it stall there, I am taking the break of the low regardless considering the situation, this time its worth the risk. todays move more than made up for a risky trade but i will close it and look to reset my position based off price action.
A retracement into todays move would be nice just to coil up that spring a little tighter...rolling the dice.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: daily0506.gif Size: 29 KB
Click to Enlarge Name: gbp0506hour.gif Size: 19 KB
  • #3,396
  • May 8, 2008 3:58am May 8, 2008 3:58am
When I looked at the G/U earlier, it looked like it had made a bottom, but I was hesitant to enter a trade because traders waiting for rate announcement.
Attached Image (click to enlarge)
Click to Enlarge Name: G.U3.png Size: 25 KB
  • #3,397
  • May 8, 2008 4:03am May 8, 2008 4:03am
GBP/USD: 1.9550+ Buy Stops Tripped, M&A News Lends Support

London, May 8. Tripped buy stops north of 1.9550 have helped inflate cable to an intra-day high a pip shy of 1.9580 (yesterday"s NY session top) as the pound benefits from the news that Best Buy of the US is to buy 50% of Carphone Warehouse"s European and US retail interests for GBP 1.1bn (FT website).

GBP/USD offers are touted at 1.9590 and 1.9600 (Apr 15/16 double-day low), with further buy stops tipped above the figure. A 1.9600 GBP put option rolls off at today"s 10am Eastern NY cut (14:00GMT).

Loss consolidation from 1.9774 (Tuesday"s high) is the big-picture sterling story, with the risk of another 25bp UK base rate cut to 4.75% as early as today helping weigh. Expect some knee-jerk closing out of short GBP positions if the BoE MPC leaves the UK base rate at 5.0% at 11:00GMT.

The National Institute of Economic and Social Research estimates that the UK economy grew by 0.4% in the three months to April, having also grown by a downwardly revised 0.4% in the three months to March. NIESR says there is a case for a quarter-point UK base rate cut today based on the prospect of slower economic growth (Reuters). ThomsonReuters
  • #3,398
  • May 8, 2008 4:09am May 8, 2008 4:09am
Quoting Dcb
When I looked at the G/U earlier, it looked like it had made a bottom, but I was hesitant to enter a trade because traders waiting for rate announcement.

Yes, we're getting closer to the next trade now....watching and waiting to see how price reacts around yesterday's intraday levels for clues on which direction they want to take it. My bias is short, so i'll treat a resistance break as a scalp and see what develops.
  • #3,399
  • May 8, 2008 4:55am May 8, 2008 4:55am
Quoting ChowClown
Yes, we're getting closer to the next trade now....watching and waiting to see how price reacts around yesterday's intraday levels for clues on which direction they want to take it. My bias is short, so i'll treat a resistance break as a scalp and see what develops.
I agree with you bias of going short with the G/U, and the time is approaching. Unfortunately I can only trade the first 4 hours of the London session, so it will probrably start its move at that time.
Attached Image
  • #3,400
  • Edited 5:37am May 8, 2008 5:26am | Edited 5:37am
Hi Bo,

If you were trading GU, how would you be playing it at the moment? Would you have already taken the break short, or would you be waiting until after the BoE announcement?

....i was tempted with the short and took it, but i'm flat now for b/e, as it's close to BoE and it wasn't moving well, indecision etc. It seems the better trades tend to move from entry quite quickly.
1 trader viewing now