Harmonics and Pitchfork using korHarmonics from TradingArsenal
Fibonacci Trading with Bobokus
- #4,250
- Jul 2, 2008 8:58am Jul 2, 2008 8:58am
- Joined Jan 2008 | Status: Trader | 2,996 Posts
Dear Shermenator:
I am short too, but i have some question to ask you. did you wait the close of that big down to entry.
also i have see many support below, so i close it when the bar completed. so how to know whether it will break the support further.
regards
I was short in an early trade I took it during toko session and held as long as my 61.8 fibb from my swing fibb held The first arrow is the candle i shorted in....and the second arrow is the candle i had my stop above the high. Once iI have good pips I place my stop in the previous candles high...and let the market take me out...
I made 81 pips in my short yesterday.
- #4,255
- Jul 2, 2008 9:49am Jul 2, 2008 9:49am
- Joined Jan 2008 | Status: Trader | 2,996 Posts
[quote=Hensby;2087971]
Yea bud last night I took my trade in to tokyo session...It was 1 hour after tokyo....
Ok here goes the first swing fibb i had in my head....remeber when i show my charts i show what fibb is more important to me but i do know the location of other fibbs....
Swing fibb 1 on this chart you can see the arrow is the candle i shorted on base on the fact price was rejeting the pivot and the market formed a nice bearish engulfing as time was going but it was to ealy to trade for my own likes...Then price those tweezer tops and thats when i decided to short at the close of that candle 3 pips below I do this to make sure momentum is still in that direction.....
That would be good. Can you show me also what you meant by the bearish swing break you had last night. When you say last night, does that mean Tuesdays trading. I am in Australia so our trading is of a night here.
Yea bud last night I took my trade in to tokyo session...It was 1 hour after tokyo....
Ok here goes the first swing fibb i had in my head....remeber when i show my charts i show what fibb is more important to me but i do know the location of other fibbs....
Swing fibb 1 on this chart you can see the arrow is the candle i shorted on base on the fact price was rejeting the pivot and the market formed a nice bearish engulfing as time was going but it was to ealy to trade for my own likes...Then price those tweezer tops and thats when i decided to short at the close of that candle 3 pips below I do this to make sure momentum is still in that direction.....
- #4,256
- Jul 2, 2008 9:59am Jul 2, 2008 9:59am
- Joined Jan 2008 | Status: Trader | 2,996 Posts
Now That I am in a trade I whant to see how the market is doing more in the inside and thats when i move my swing fibb just to get more in formation from the market and know whens a good time to close my trade or if my odds of winning the trade are still good.......
Here i moved my swing fibb closer to price and whanted to see it hold....
And it did not held as resistance and it broke ....When price broke the high of this swing you could have closed your short and reenter if you felt the market could be good again this comes down do how much are you willing to risk for profit....Also i had alot of this telling me to short the market...on daily chart i had good amount of stuff and alot of things telling me to short on 4 hour and 1 hour it was like the market was screaming at me short me lol...Plus i came at a good price and the amount of pips it was against me was not much that made the risk to reward ratio good and probability keept me in the trade...
Here i moved my swing fibb closer to price and whanted to see it hold....
And it did not held as resistance and it broke ....When price broke the high of this swing you could have closed your short and reenter if you felt the market could be good again this comes down do how much are you willing to risk for profit....Also i had alot of this telling me to short the market...on daily chart i had good amount of stuff and alot of things telling me to short on 4 hour and 1 hour it was like the market was screaming at me short me lol...Plus i came at a good price and the amount of pips it was against me was not much that made the risk to reward ratio good and probability keept me in the trade...