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Fibonacci Trading with Bobokus

  • #4,381
  • Jul 13, 2008 10:41pm Jul 13, 2008 10:41pm
Quoting GreatYves
So far i have been setting a unique target 10 pips before T1, stop 15 pips under short level for a long, 20 pips above long level for a short. Do you suggest another strategy? But I can't be there to monitor my trade and i am afraid to let a second lot run to T2, not reach it and reverse on me not being able to be there to move my sl to t1 because i still have a day job...
Thats good, your target should be set a minimum equal to the spread on the pair.
  • #4,382
  • Edited 11:06pm Jul 13, 2008 10:46pm | Edited 11:06pm
I will wait for price to show me that we have had a real bounce by proving to me that support is holding.....to do this I will use my swing fib like I have on the image and will keep on pulling up untill price makes a retracement and finds suport because for all I know this can be a small retacement to the move we had down since the market open today........If in fact price finds resistance and breaks the swing low depending on the time I will short the market based on price action but not on the fact the our intraday 61.8 brakes with a close so that would mean I would be anticipating the brake. This will come down to what I see in the fallowing hour or 2....And if in fact the low brakes It would be treated like a scalp since I would be jumping on the break of the low and not the closed , though it can turn into a trade.

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd123.gif Size: 52 KB


4:30am GBPhttp://www.forexfactory.com/images/m...mpact_high.gifPPI Input m/m
http://www.forexfactory.com/images/m...dar_detail.gif
2.5%3.8%
4:30am GBPhttp://www.forexfactory.com/images/m...impact_low.gifPPI Output m/m
http://www.forexfactory.com/images/m...dar_detail.gif
1.2%1.6%


Please keep in mind this so in fact today we might have a failure to our intraday levels...
Its bearish news for the gbp if the forecast holds..
  • #4,383
  • Jul 14, 2008 12:22am Jul 14, 2008 12:22am
I am currently in a short in the eur/usd and treating like a scalp ince its against our intraday levels. Keep in mind the broken trendline plus the head and shoulder forming....

Either way its still treated like a scalp since its against intraday levels....But will let the market tell me wht to do...

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 1.gif Size: 46 KB
  • #4,384
  • Edited 12:51am Jul 14, 2008 12:31am | Edited 12:51am
This is yet another update on the gbp/usd as you can I have mved my swing and see if support has decided to hold or not ...If support hold I will backing the break of the swing high and vice versa I will be taking the brake of the swing low...Lets see what happends...

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd12345.gif Size: 48 KB
  • #4,385
  • Jul 14, 2008 12:35am Jul 14, 2008 12:35am
My short on eur/usd has taken of plus it has braken the swing low lets see if it has enought to push to its swing target....I will close at that point and if anything reenter later ...

Attached Image (click to enlarge)
Click to Enlarge Name: eur12345.gif Size: 46 KB
  • #4,386
  • Jul 14, 2008 1:01am Jul 14, 2008 1:01am
this is just what i think and i am a newbie here... i think g/u is bullish and that this is just a retracement where it will be shooting sky high later today... any way i would i like to know what you experts think...
  • #4,387
  • Jul 14, 2008 1:09am Jul 14, 2008 1:09am
I have moved my stop to the previous candle high nd that places me at b/e lets see what happends....
  • #4,388
  • Jul 14, 2008 1:15am Jul 14, 2008 1:15am
I am currently short on the gbp/usd even though are intraday levels are bullish I have a tight stop ....worst case I will reverse...momentum is still holding on the bearish side.....Pricae action is showing me this plus upward trendline is broken...

Attached Image (click to enlarge)
Click to Enlarge Name: gpp update.gif Size: 22 KB
  • #4,389
  • Jul 14, 2008 3:43am Jul 14, 2008 3:43am
any body have anything to say about g/u direction......
  • #4,390
  • Jul 14, 2008 4:12am Jul 14, 2008 4:12am
i am going long.... i entered at 1.9832......
  • #4,391
  • Jul 14, 2008 6:13am Jul 14, 2008 6:13am
Hi

It doesnt really matter what anyone says....its what you can see on your chart that matters. Every trading decisions should be based on each trader's Tech/Fundies Analysis.

Based on what I see on my chart cable is in a bullish trend.....but that can change anytime cos we know the market is ever changing and we are suppose to adjust to those changes.


Just my 2pips.... hope it helps
  • #4,392
  • Jul 14, 2008 6:57am Jul 14, 2008 6:57am
Went long based on what chart indications? Post your chart.
On my chart the long is an open above 9880. To me it looks like its in consolidation with a tilt towards bearish. but I'm the newb here and only been reading the thread a cpl days.

Happy Pippin'
KC

Quoting xscamx
i am going long.... i entered at 1.9832......
  • #4,393
  • Jul 14, 2008 7:07am Jul 14, 2008 7:07am
Quoting xscamx
this is just what i think and i am a newbie here... i think g/u is bullish and that this is just a retracement where it will be shooting sky high later today... any way i would i like to know what you experts think...
Don't think anything... Go with the flow.

I am short on the candle that had close under 9830, I am under the water -50 pips now but still hoping because price didn`t break 9880 yet. If i loose at 9901 i won`t mind because it`s gonna be 1% of my capital only. Off to work i go now...
Harmonics and Pitchfork using korHarmonics from TradingArsenal
  • #4,394
  • Jul 14, 2008 8:06am Jul 14, 2008 8:06am
I was looking at the ED and playing with the fibs.
Tell me if I layed the fibs out correctly.
Attached Image (click to enlarge)
Click to Enlarge Name: ed7_13_08_0900.gif Size: 29 KB
  • #4,395
  • Edited 10:03am Jul 14, 2008 9:01am | Edited 10:03am
Hi,

This my chart while my bias was bullish, I entered long cos of my Swing Fibs.... when price broke the long of my swing fib and now im out cos price just touched my T1.

I try to keep it as simple as possible.
Attached Image (click to enlarge)
Click to Enlarge Name: charts.gif Size: 21 KB
  • #4,396
  • Jul 14, 2008 9:47am Jul 14, 2008 9:47am
Cable is testing the Monthly open price now(1.9926) a break here and we could see the 1.9950/1.9970's today. A failure and we should begin to retrace and consolidate for the day. 1.9950/1.9970 would give Cable a 140/160pip range for the day.
Long from 1.9863, closed 80% at 1.9920 letting the rest ride it out. Taking out some profits now since fundamentally I dont see any real support for this move.
Attached Image (click to enlarge)
Click to Enlarge Name: 0714.gif Size: 22 KB
  • #4,397
  • Jul 14, 2008 10:02am Jul 14, 2008 10:02am
Quoting Bobokus
since fundamentally I dont see any real support for this move.
I agree.
As I see this move and the preceding one as a buying climax followed by a retest of previous levels.

I'm short and I will scale in if the pivot low at 1.9820 is taken out.

Regards
Enter Signature
  • #4,398
  • Jul 14, 2008 10:08am Jul 14, 2008 10:08am
Quoting CHFJunkie
I agree.
As I see this move and the preceding one as a buying climax followed by a retest of previous levels.

I'm short and I will scale in if the pivot low at 1.9820 is taken out.

Regards
Ive closed it out now looking to get some of the retracement if it occurs soon enough, 1PM EST Ill take my sell stop off the table and wait for tonight. I may take a small lot short at 1.9920 if it hits again and again at 1.9950...closing em both on a break there...if it breaks there somebody knows something everyone else doesnt.
  • #4,399
  • Jul 14, 2008 10:23am Jul 14, 2008 10:23am
Quoting kc8flq
I was looking at the ED and playing with the fibs.
Tell me if I layed the fibs out correctly.
That looks good, your swings targets have been met so you can take it off now or move it up to the next swing to follow along with price.
  • #4,400
  • Jul 14, 2008 10:24am Jul 14, 2008 10:24am
Quoting xscamx
this is just what i think and i am a newbie here... i think g/u is bullish and that this is just a retracement where it will be shooting sky high later today... any way i would i like to know what you experts think...

As long as support levels continue to hold it will continue to test higher and higher levels.
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