Fibonacci Trading with Bobokus | Page 172 | 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

  • #3,421
  • May 9, 2008 12:42am May 9, 2008 12:42am
Same thing happends in the gbp/usd

if you look closesly the only reason why our intrdaylevels failed today was because the bigger fibb made them failed...

I got the bigger swing from the 4 hour chart...

so my question is would you taken a short of the 38.2 fibb from the larger swing or waited for the intrdaylevels to fail to get the confirmation that those levels infact are moving the market?

Attached Image (click to enlarge)
Click to Enlarge Name: 444.gif Size: 46 KB
  • #3,422
  • May 9, 2008 3:34am May 9, 2008 3:34am
hi everyone
did anyone else go short gbp bounce from i/d pivot. went down to low and now retraced. hopefully still wants to go short
joy
  • #3,423
  • May 9, 2008 3:39am May 9, 2008 3:39am
Quoting joypips
hi everyone
did anyone else go short gbp bounce from i/d pivot. went down to low and now retraced. hopefully still wants to go short
joy
Hi, i took the short too earlier....as Bo said yesterday, the 500 level is a tough nut to crack.
  • #3,424
  • May 9, 2008 3:42am May 9, 2008 3:42am
Quoting ChowClown
Hi, i took the short too earlier....as Bo said yesterday, the 500 level is a tough nut to crack.
are you still in chowclown?
  • #3,425
  • Edited 4:19am May 9, 2008 3:47am | Edited 4:19am
Yes, my stops are currently above the overnight resistance. I'll reverse long with an hrly open above yesterday's intraday long fib (>9576).

Edit: The penetration above the last hrly inside bar/candle doesn't look too promising for shorts...if it breaks above the inside candle before that (9554) i'll take a loss there and wait for the next intraday fib break (long or short).
  • #3,426
  • May 9, 2008 5:36am May 9, 2008 5:36am
This look like a skipy market since,but i see cable trying to break the intraday low,given me confidence to remain on short.Hope am right?
  • #3,427
  • Edited 5:56am May 9, 2008 5:52am | Edited 5:56am
Quoting hiswords
This look like a skipy market since,but i see cable trying to break the intraday low,given me confidence to remain on short.Hope am right?
Yes, looking better now.

I have an intraday T1 at 9464, where i'll be taking off 80% and letting the rest run by following price down with the resistance fib. I'll let the market take out that 20% on an hrly open above the resistance long fib level.
Attached Image (click to enlarge)
Click to Enlarge Name: GU - (1) 9th May 08.GIF Size: 54 KB
  • #3,428
  • May 9, 2008 6:27am May 9, 2008 6:27am
I see everyone looks to have taken the right posistion today...great job!
Attached Image (click to enlarge)
Click to Enlarge Name: gbp0508b.gif Size: 20 KB
  • #3,429
  • May 9, 2008 6:48am May 9, 2008 6:48am
Quoting Bobokus
I see everyone looks to have taken the right posistion today...great job!
thanks to your patient tuition bo, and lots and lots of practice.
forever grateful to you
joy
  • #3,430
  • May 9, 2008 6:50am May 9, 2008 6:50am
Quoting joypips
thanks to your patient tuition bo, and lots and lots of practice.
forever grateful to you
joy
..seconded
  • #3,431
  • May 9, 2008 8:14am May 9, 2008 8:14am
Please if i may ask,what is the blue and red lines in your chart?i learnt they form triangles that helps in decision making.What is there names and how can it be used?
Thanks,
Gbenga.
  • #3,432
  • May 9, 2008 8:46am May 9, 2008 8:46am
Quoting hiswords
Please if i may ask,what is the blue and red lines in your chart?i learnt they form triangles that helps in decision making.What is there names and how can it be used?
Thanks,
Gbenga.
I just use them as a visual aid in selecting or marking my entry and exit points, similar to what you see in my Daily trading thread.
  • #3,433
  • May 9, 2008 9:17am May 9, 2008 9:17am
Quoting Shermenator
Same thing happends in the gbp/usd

if you look closesly the only reason why our intrdaylevels failed today was because the bigger fibb made them failed...

I got the bigger swing from the 4 hour chart...

so my question is would you taken a short of the 38.2 fibb from the larger swing or waited for the intrdaylevels to fail to get the confirmation that those levels infact are moving the market?

Attachment
Several of us here took the shorts yesterday from the rejection. I had 2 short positions 1 went for BE the other +21.
  • #3,434
  • May 9, 2008 1:31pm May 9, 2008 1:31pm
Picture perfect trading day, coundnt have been any better way to end the week with!!
Attached Image (click to enlarge)
Click to Enlarge Name: pictureperfect.gif Size: 20 KB
  • #3,435
  • May 9, 2008 2:32pm May 9, 2008 2:32pm
Quoting Bobokus
Picture perfect trading day, coundnt have been any better way to end the week with!!
Nice trading Bo, keep up the good work At least one of us had a good week hah.
  • #3,436
  • May 9, 2008 3:03pm May 9, 2008 3:03pm
You said it Bo! Have a great weekend - wonderful trading experience!
  • #3,437
  • Edited 6:41pm May 9, 2008 6:29pm | Edited 6:41pm
Quoting Shermenator
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....
Attachment

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...

Attachment

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...

Attachment

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?
Same thing again, your giving yourself so many choices that you get to the point you cant make one.
Simplify, first chart Daily shows price bouncing off the uptrend levels to test the resistance levels of the retracement.
Switch to a 1 hour to see if you find the same thing....Price never even tested the support from yesterdays Intraday saying yes we are going up, didnt get the test of support on the 1 hours Intraday but the high breaks...your only choice go long!, Its headed to those resistance levels as long as the waveforms on the 1 hour continue to show support holding.
The Intraday from today shows the same thing...the news out of US causes a dip but support levels hold.(Daily condition of the Daily bounce and soon to test resistance levels is confirmed) Overcomplicating things with too many indicators or even fib tools and you confuse the situation...the simpler the better.
The only thing to prevent this is a shift in sentiment from a fundamental standpoint. At that point support will begin to fail.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurodaily.gif Size: 27 KB
Click to Enlarge Name: euro1hour.gif Size: 26 KB
Click to Enlarge Name: euro1hoursupp.gif Size: 26 KB
  • #3,438
  • May 9, 2008 6:35pm May 9, 2008 6:35pm
Last 4 hour waveform shows the same thing or tells the same story. Your placing your fibs to make up your trading plan not to measure every single waveform and end up with 10 fibs on the chart. Just put enough to get the picture of whats going on...add to this the fundamental reasons of the why the market is moving in the direction it is and youve got this thing whipped.....Simplify
The fib tool is just a tool to help you draw a picture of the market from a support and resistance standpoint, and point out the most common places where these areas will be found.
Attached Image (click to enlarge)
Click to Enlarge Name: euro4hourres.gif Size: 28 KB
  • #3,439
  • May 9, 2008 10:09pm May 9, 2008 10:09pm
Hi Bobokus, I'm newbies... I'm searching where I can find Fibo Indi that you using in Daily strategy.. I download your template but it's only work for GBP/USD.. Sorry my english.. Thanks
  • #3,440
  • May 9, 2008 10:59pm May 9, 2008 10:59pm
Quoting Roselyn
Hi Bobokus, I'm newbies... I'm searching where I can find Fibo Indi that you using in Daily strategy.. I download your template but it's only work for GBP/USD.. Sorry my english.. Thanks
There is an indicator here somewhere but I dont use it,I do everything manually. The template has fib tools that are relabeled but they can be transferred from the cable chart to another by moving them manually
1 trader viewing now