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Fibonacci Trading with Bobokus

  • #3,761
  • Jun 4, 2008 4:46am Jun 4, 2008 4:46am
Quoting ztdep
bobokus's instruction on how to use the swing fibs
Nice job. For those interested here are the links to the posts captured in the word doc.
They are from way back in october on page 26 of this thread

http://www.forexfactory.com/showthre...01#post1682801
http://www.forexfactory.com/showthre...08#post1682808
http://www.forexfactory.com/showthre...13#post1682813
http://www.forexfactory.com/showthre...20#post1682820


How did CCI manage to creep into this thread?
  • #3,762
  • Jun 4, 2008 6:17am Jun 4, 2008 6:17am
Quoting ztdep
the cci make a divergence, so go short.
and the price retrace very shallow, make a strong evidence that the bear is stong.
target is t1. 50 pips .
Dear bobokus, so would you please tell me how to use the swing fibs in this case.
There isnt a swing in this case, price never really made a counter move into yesterdays Intraday. It wasnt needed.
  • #3,763
  • Jun 4, 2008 6:20am Jun 4, 2008 6:20am
Quoting jicjoc
Nice job. For those interested here are the links to the posts captured in the word doc.
They are from way back in october on page 26 of this thread

http://www.forexfactory.com/showthre...01#post1682801
http://www.forexfactory.com/showthre...08#post1682808
http://www.forexfactory.com/showthre...13#post1682813
http://www.forexfactory.com/showthre...20#post1682820


How did CCI manage to creep into this thread?
The CCI is just something Ztdep uses, its not part of this thread or being taught here.
  • #3,764
  • Jun 4, 2008 7:50am Jun 4, 2008 7:50am
Woudl somebody tell me how to open an order in the vthand. thank you very much!
I need time ,I need money, I need more patience
  • #3,765
  • Jun 4, 2008 8:01am Jun 4, 2008 8:01am
Quoting ztdep
Woudl somebody tell me how to open an order in the vthand. thank you very much!
Theres an entire thread dedicated to vhands trading in the beginner Q&A forums.

http://www.forexfactory.com/showthread.php?t=60849
  • #3,766
  • Jun 4, 2008 8:14am Jun 4, 2008 8:14am
guys,how far wth ur trades 2days,seems d market is quiet wat is happening in d background?
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #3,767
  • Jun 5, 2008 12:16am Jun 5, 2008 12:16am
Bo let me know what you think of this...Today i feel like like our intraday levels might not get reached for the reason that a bigger fibb taget has been reached...also price has stopped for the past 4 hours let me know what you think....

First chart shows my 1 hour chart
Attached Image (click to enlarge)
Click to Enlarge Name: 111.gif Size: 47 KB


Now second chart just shows better the fibb I am talking about the target getting reached...let me know bud...

Second chart...

Attached Image (click to enlarge)
Click to Enlarge Name: 222.gif Size: 50 KB
  • #3,768
  • Jun 5, 2008 1:43am Jun 5, 2008 1:43am
price has just this morning hit a target of a downward fib, which is just 40 pips south of the short of a larger up fib going back to 14th May.

I would use the dialy chart here to confirm whether we are biased long or short. If tomorrows candle opens below 19548 then we are heading south for 19176 territory

Thoughts?

I dont label my fibs but use color to recognise them. red for down move, blue for up move, green for intraday, black for swing.

The hourly chart could show what skunny was talking about, every timeframe having swings and targets that must be hit before the higher timeframe kicks in again. So price could reverse from here and go long again to 2.0034.

Do smaller Timeframe targets have more precedence than higher TF inner levels? I think so. Take the example of a scalp from the previous days cycle to its inner levels. Thats a smaller TF cycle. And it invariably hits its T1, even if that means it must cross the short level of yesterdays cycle(if yesterdays trend was up)
. Then sometimes yesterdays up cycle continues, even though a candle has opened below the short of the intraday levels.

What do you think?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 5_06_08gudaily.gif Size: 21 KB
Click to Enlarge Name: 5_06_08guhourly.gif Size: 17 KB
  • #3,769
  • Jun 5, 2008 7:23am Jun 5, 2008 7:23am
Quoting Shermenator
Bo let me know what you think of this...Today i feel like like our intraday levels might not get reached for the reason that a bigger fibb taget has been reached...also price has stopped for the past 4 hours let me know what you think....

First chart shows my 1 hour chart
Attachment

Now second chart just shows better the fibb I am talking about the target getting reached...let me know bud...

Second chart...

Attachment
I see you were correct in your analysis again..thats good. You didnt get the retracement to test the Intraday levels so all your left with is the more risky break of the low, Once the low was broken it did just what you dont want to see it do...finally started to retrace but if you held on to your short you should have done ok.
  • #3,770
  • Jun 5, 2008 7:46am Jun 5, 2008 7:46am
Quoting jicjoc
price has just this morning hit a target of a downward fib, which is just 40 pips south of the short of a larger up fib going back to 14th May.

I would use the dialy chart here to confirm whether we are biased long or short. If tomorrows candle opens below 19548 then we are heading south for 19176 territory

Thoughts?

I dont label my fibs but use color to recognise them. red for down move, blue for up move, green for intraday, black for swing.

The hourly chart could show what skunny was talking about, every timeframe having swings and targets that must be hit before the higher timeframe kicks in again. So price could reverse from here and go long again to 2.0034.

Do smaller Timeframe targets have more precedence than higher TF inner levels? I think so. Take the example of a scalp from the previous days cycle to its inner levels. Thats a smaller TF cycle. And it invariably hits its T1, even if that means it must cross the short level of yesterdays cycle(if yesterdays trend was up)
. Then sometimes yesterdays up cycle continues, even though a candle has opened below the short of the intraday levels.

What do you think?
Not every swings targets are going to be met, same with the Intraday or any fib. Its just the nature of the beast. Dont hold trades thinking that a cycle must be completed and price will return to hit that target, a failure to reach a target is just a failure to reach a target and you can just move on to the next opportunity. Not reaching a target is just simply loss of momentum and possible signs of retracement or ranging.The larger timeframe always takes precedence, when your looking at a larger timeframe level from the Daily on a 1 hour timeframe price can penetrate the Daily level and indicate a break on the 1 hour but to the Daily it only matters if it closes beyond that level. Hope that makes sense. You just want to be careful around Daily levels when trading on the 1 hour since a Daily level can be between your entry point and a target.
  • #3,771
  • Jun 5, 2008 7:48am Jun 5, 2008 7:48am
Quoting lordgbengs
guys,how far wth ur trades 2days,seems d market is quiet wat is happening in d background?
Most likely just a lull in the momentum..Cable is in play and trending nicely this week !
  • #3,772
  • Jun 5, 2008 10:28am Jun 5, 2008 10:28am
Hi Bobokus,

Lou here just jumping in to ask a quick question. Sorry if it is a repeat but my search turned up zilch. When the weekly (drawn off of the H/L of last week) has hit or surpassed T1 or T2, is it best to adjust the weekly to that move immediately after it has confirmed or wait and redraw just prior to the new week?

Thank you.

Lou
  • #3,773
  • Jun 5, 2008 11:29am Jun 5, 2008 11:29am
Quoting Lou
Hi Bobokus,

Lou here just jumping in to ask a quick question. Sorry if it is a repeat but my search turned up zilch. When the weekly (drawn off of the H/L of last week) has hit or surpassed T1 or T2, is it best to adjust the weekly to that move immediately after it has confirmed or wait and redraw just prior to the new week?

Thank you.

Lou
If your taking your profits out at that point it meets its T1 or T2. Me personally I would move up to the new waveform and just keep pulling my high or low if new highs or lows are being made that way your support and resistance levels are current with the movements after your targets are met.
  • #3,774
  • Jun 5, 2008 5:51pm Jun 5, 2008 5:51pm
We have a bullish Bias day...We have yet not had a test of our intraday levels So I am expecting somewhat of a pullback at least to our intraday levels before anything...we have come up to some major resistance levels but price will let know in a later time if price whants to go up if our levels hold. If levels dont hold today then we would know why.

Second tomorrow we have some major news coming out and its bullish for the gbp/usd since its expected bad for the USD. But remeber this fundamental is very unclear all the times since the forecast can always be different. Personaly myself i will stop trading after 4:30 am after this time the market might slow down and go into consolidation waiting for the release. Tonight factor time if you are in a profit situation and are not willing to gable your profit on the nonfarm and unemployment change.

1 hour chart
Attached Image (click to enlarge)
Click to Enlarge Name: 111.gif Size: 46 KB


4 hour chart
Attached Image (click to enlarge)
Click to Enlarge Name: 222.gif Size: 51 KB
  • #3,775
  • Jun 5, 2008 8:18pm Jun 5, 2008 8:18pm
Quoting Shermenator
We have a bullish Bias day...We have yet not had a test of our intraday levels So I am expecting somewhat of a pullback at least to our intraday levels before anything...we have come up to some major resistance levels but price will let know in a later time if price whants to go up if our levels hold. If levels dont hold today then we would know why.

Second tomorrow we have some major news coming out and its bullish for the gbp/usd since its expected bad for the USD. But remeber this fundamental is very unclear all the times since the forecast can always be different. Personaly myself i will stop trading after 4:30 am after this time the market might slow down and go into consolidation waiting for the release. Tonight factor time if you are in a profit situation and are not willing to gable your profit on the nonfarm and unemployment change.

1 hour chart
Attachment

4 hour chart
Attachment

Good plan, your learning.
  • #3,776
  • Jun 6, 2008 1:56am Jun 6, 2008 1:56am
Bo can you please let me know if your intraday level would be like this or would you keep on pulling to the highest high since we have not had a retracement....

First chart is the first way i would place them

Attached Image (click to enlarge)
Click to Enlarge Name: 111.gif Size: 48 KB


Now the second chart shows the second way i would place the intraday levels...

what way would you place them...

Attached Image (click to enlarge)
Click to Enlarge Name: 222.gif Size: 53 KB
  • #3,777
  • Jun 6, 2008 3:03am Jun 6, 2008 3:03am
hi guys can any one help me how to trade on fibonacci value,
as i know making graph from bottom to top but i want to knwo how can we realise from where does the market will move,till what levels market will move,
can any one help me please
LIVE LOVE LAUGH KRISHNA
  • #3,778
  • Jun 6, 2008 4:30am Jun 6, 2008 4:30am
I will advise you to read the all thread though it might look a lil daunting but I can promise you it will be well worth it cos every question you want to know is all in the thread.

Bob the thread strater has done an amazing job putting this thread together and he will always be willing to answer your questions but first do the following
1. Read the all thread
2. Watch the lil clips at the beginning about how to draw fibs
3. Do the exercises he asked us all to do throughout the thread

Then after doing all that and you still have any questions Im sure Bob will always be willing to answer all your questions. But I stress again read the thread, its weekend so enough time to go through it...... if you are a quick reader.

Hope this helps
  • #3,779
  • Jun 7, 2008 6:13pm Jun 7, 2008 6:13pm
Quoting Shermenator
Bo can you please let me know if your intraday level would be like this or would you keep on pulling to the highest high since we have not had a retracement....

First chart is the first way i would place them

Attachment

Now the second chart shows the second way i would place the intraday levels...

what way would you place them...

Attachment

I would have used the high of the consolidation period after it made a top for the day.
  • #3,780
  • Jun 7, 2008 6:15pm Jun 7, 2008 6:15pm
Quoting krishna
hi guys can any one help me how to trade on fibonacci value,
as i know making graph from bottom to top but i want to knwo how can we realise from where does the market will move,till what levels market will move,
can any one help me please

We'll thats petty much what the thread is used for, If you read through it you may find what your looking for.
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