Fibonacci Trading with Bobokus | Page 171 | 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

  • #3,401
  • May 8, 2008 5:49am May 8, 2008 5:49am
This is basically the same chart as Dcb has posted above, but with the "other" S& R lines - the 100s and the Daily Pivots.

Three bounces off the 500 & MS1 level gave a buy signal - I was still in bed, but caught it after the start of European trading. A straight 100 pips up to the confluence of the 600, 50% retrace and MR1 made a clear target.

Now I'm flat, awaiting the BOE announcement - its safer that way!
Attached Image (click to enlarge)
Click to Enlarge Name: may 8 gu 15m 1230.gif Size: 12 KB
Trading Levels with WRBs
  • #3,402
  • May 8, 2008 6:00am May 8, 2008 6:00am
Classy trading Islander
  • #3,403
  • May 8, 2008 6:23am May 8, 2008 6:23am
I have to sign off. I did wait for the BOE rate announcement. I had a gain of 28 pips before I had to close my position. I do believe it will continue down. Have a good day trading.
Attached Image (click to enlarge)
Click to Enlarge Name: G.U.5.png Size: 27 KB
  • #3,404
  • May 8, 2008 6:30am May 8, 2008 6:30am
Quoting Dcb
I had a gain of 28 pips before I had to close my position. I do believe it will continue down. Have a good day trading.
Nice trading.

I'm short again now, after the announcement...i don't have a particularly good 'feeling' about the trade, but will let it run it's course regardless.
  • #3,405
  • May 8, 2008 7:12am May 8, 2008 7:12am
Quoting ChowClown
Nice trading.

I'm short again now, after the announcement...i don't have a particularly good 'feeling' about the trade, but will let it run it's course regardless.
Im going to try and short this, so far support from this move up in price from the asian session is holding, the battle apears to be between 1.9600 and 1.9550 the break from this will be the direction. Im getting in this a little late but short from 1.9667 and im only going to give them 40 pips or so if Im wrong, price action should show it reversing before that many pips anyway, if not im going to ride it out. Once this current candle completes (1200 candle On my chart)I can use it as a base to decide to close it on a break of its high.
  • #3,406
  • May 8, 2008 7:17am May 8, 2008 7:17am
Forgot to post my chart
Attached Image (click to enlarge)
Click to Enlarge Name: gbp0508.gif Size: 23 KB
  • #3,407
  • May 8, 2008 7:19am May 8, 2008 7:19am
Quoting Bobokus
Im going to try and short this, so far support from this move up in price from the asian session is holding, the battle apears to be between 1.9600 and 1.9550 the break from this will be the direction. Im getting in this a little late but short from 1.9667 and im only going to give them 40 pips or so if Im wrong, price action should show it reversing before that many pips anyway, if not im going to ride it out. Once this current candle completes (1200 candle On my chart)I can use it as a base to decide to close it on a break of its high.
..with 'ya Bo. Thanks for your reasoning, very useful to have this as trades unfold. I have a similar pip stop and watching price action like a hawk atm.
  • #3,408
  • May 8, 2008 7:26am May 8, 2008 7:26am
If we can get an hourly open below 1.9540 we'll be in better shape i think, back to 1.9500 area, price had a tough time, last time it was here trying to break 1.9500 back in February. It took several days.
  • #3,409
  • May 8, 2008 7:36am May 8, 2008 7:36am
Thanks for the tip, I have been staring at cable thinking wheres the next move, though my bias was short I still wasnt that confident to take the trade but since you said you are short, I ve gone short too and would be treating this trade as a scalp and keeping my fingers and toes crossed.
  • #3,410
  • May 8, 2008 7:38am May 8, 2008 7:38am
Quoting Bobokus
If we can get an hourly open below 1.9540 we'll be in better shape i think, back to 1.9500 area, price had a tough time, last time it was here trying to break 1.9500 back in February. It took several days.
ah yes, thanks for the headsup - i've moved stops to b/e on this short now.
  • #3,411
  • May 8, 2008 7:58am May 8, 2008 7:58am
Quoting ChowClown
ah yes, thanks for the headsup - i've moved stops to b/e on this short now.
b/e stop filled.
  • #3,412
  • May 8, 2008 8:09am May 8, 2008 8:09am
Quoting ChowClown
b/e stop filled.
Yep, thats the breaks, support held. Today goes down as a push.
  • #3,413
  • May 8, 2008 8:53am May 8, 2008 8:53am
...where's your thinking now, Bo?...enough for today, too choppy/indecisive?
  • #3,414
  • May 8, 2008 9:21am May 8, 2008 9:21am
Quoting ChowClown
...where's your thinking now, Bo?...enough for today, too choppy/indecisive?
Im going to try it again, Short 1.9563 again. I dont recommend following my example here.
  • #3,415
  • May 8, 2008 9:35am May 8, 2008 9:35am
Quoting Bobokus
Im going to try it again, Short 1.9563 again. I dont recommend following my example here.
...no worries, just useful to understand how you're interpreting the flow as the session progresses.
  • #3,416
  • May 8, 2008 5:07pm May 8, 2008 5:07pm
This is my doubt...bo take a look at my resistance fib the red one in my chart...what this shows me is that price got rejected by it and that is should come down to its target 1....

Now I am ussing the yellow fibb to make sure price continues to that target let me know if this is wrong... I am expecting a pullback when this hits that would mean that i would expect to find a reversal on the one hour chart when this targets are meet or at least be more carefull with entering a short around those targets.....let me know if this is wrong bud...

Attached Image (click to enlarge)
Click to Enlarge Name: 111.gif Size: 53 KB
  • #3,417
  • May 8, 2008 8:42pm May 8, 2008 8:42pm
Quoting Shermenator
This is my doubt...bo take a look at my resistance fib the red one in my chart...what this shows me is that price got rejected by it and that is should come down to its target 1....

Now I am ussing the yellow fibb to make sure price continues to that target let me know if this is wrong... I am expecting a pullback when this hits that would mean that i would expect to find a reversal on the one hour chart when this targets are meet or at least be more carefull with entering a short around those targets.....let me know if this is wrong bud...

Attachment
Until we can break from these I have mine pulled up a little closer to the action. No retracemenmt here unless price makes a break long here, if it does and then stalls out another retracement swing will be available. What Im looking at is the last Daily swing down here for resistance levels if a run up is going to be made. A break short again and we have the Intraday levels to look to. Posted examples :
Attached Image(s) (click to enlarge)
Click to Enlarge Name: daily_intradayset.gif Size: 26 KB
Click to Enlarge Name: daily_intraday1.gif Size: 28 KB
Click to Enlarge Name: daily_intraday2.gif Size: 23 KB
  • #3,418
  • May 8, 2008 8:46pm May 8, 2008 8:46pm
Intraday should then look something like this.
Attached Image (click to enlarge)
Click to Enlarge Name: intraday0508.gif Size: 22 KB
  • #3,419
  • May 9, 2008 12:19am May 9, 2008 12:19am
Quoting Bobokus
Intraday should then look something like this.

I see you got the last swing in price in the daily does that mean that you wont move it until we break out of this...?
Thanks for answering BO
  • #3,420
  • May 9, 2008 12:33am May 9, 2008 12:33am
Bo this is an example of how i would place them on the eur/usd

Let me know if this is right...

On my first chart i have the overall last move in the market....
Attached Image (click to enlarge)
Click to Enlarge Name: 111.gif Size: 43 KB


Then i got a littel closer to price since the major fibb is to far from price...
Now i have this orange fibb that shows me some strong supports levels and lastly i placed my retracement levels....

What i see her is that if support from my orange fibbs fail then we can get a test of our longest blue fibb...
Then i simply have the retracement to it...

Attached Image (click to enlarge)
Click to Enlarge Name: 222.gif Size: 48 KB


Then i go down to my 1 hour chart and i placed my intraday fibb that comes from our swing from the high to the low the green one....

The only thing here that gets me shaky is that fact that i see that bigger swing and i know that we have not broken those fibb levels (red Fibb)
Do you have the red fibb or what do you do...

Because what i see here is that we have a buliish bias from our intrday levels and yet at the same time we are locked in a bearish swing...

Attached Image (click to enlarge)
Click to Enlarge Name: 333.gif Size: 51 KB


If anything the way i see this is if you do take a long because of our intrday levels i should pay attention to those main levels but yet again i might be wrong...

Also would you take a short of those levels?
Or would you only play with your intrday levels?
0 traders viewing now