Price action told me to get out made at 10 pips also fundamental coming out soon....not worth gambling....
Fibonacci Trading with Bobokus
- #4,524
- Jul 23, 2008 12:34pm Jul 23, 2008 12:34pm
- Joined Jan 2008 | Status: Trader | 2,996 Posts
Long @ 1500 candle nice bounce off the intraday short fib. filled at 9970
Edit: Moved stop up to 9984, 1 pip below recent swing short fib. T/P is set to 2.0060 1 pip below TP 2
My freind be aware of Swing pivot , Time of day and prior candles low has been broken....momentum has slowed and we might get a littel pullback or consolidation good luck..I would have closed my long...
- #4,525
- Jul 23, 2008 11:37pm Jul 23, 2008 11:37pm
- Joined Jan 2008 | Status: Trader | 2,996 Posts
Iam currently Long when the previous candles high broke and will watch price action tell me either to hold it or not....also remeber everything against intraday should be treated like a scalp...
the arrows pointing up mean the 38.2 swing long and are holding and keep in mind we are in long condition in the 4 hour swing and we had a nice bounce at the intraday and also keep in mind we reversed yesterday 61.8 fibb....
I will let price guide me and tell me if its worth holding or not.....I have no problem having to reverse or having to take a loss this is trading...
the arrows pointing up mean the 38.2 swing long and are holding and keep in mind we are in long condition in the 4 hour swing and we had a nice bounce at the intraday and also keep in mind we reversed yesterday 61.8 fibb....
I will let price guide me and tell me if its worth holding or not.....I have no problem having to reverse or having to take a loss this is trading...
- #4,528
- Jul 24, 2008 12:33am Jul 24, 2008 12:33am
- Joined Jan 2008 | Status: Trader | 2,996 Posts
Be aware of tthe other side of the channel today we might find solid resistance at the high....What this means is protect profits and watch price...
Thats the swing I am talking about...
Tis is my current gbp swing I am using I wont close if this brakes since the intraday are key I will let price decide for me....
Thats the swing I am talking about...
Tis is my current gbp swing I am using I wont close if this brakes since the intraday are key I will let price decide for me....
- #4,530
- Jul 24, 2008 1:16am Jul 24, 2008 1:16am
- Joined Jan 2008 | Status: Trader | 2,996 Posts
I have not reversed due to the fact our intraday levels are still holding....
I could have reversed when the previous candles low broke .....though remeber everything against the intraday levels should be treated like a scalp.....I see the action in the candle but this can be the wick Its still not conving enough to reverse my trade or close..... we still have our pivot and short as support....
I could have reversed when the previous candles low broke .....though remeber everything against the intraday levels should be treated like a scalp.....I see the action in the candle but this can be the wick Its still not conving enough to reverse my trade or close..... we still have our pivot and short as support....
- #4,531
- Jul 24, 2008 2:04am Jul 24, 2008 2:04am
- Joined Jan 2008 | Status: Trader | 2,996 Posts
I have closed my long took a 40 pips lost.....I am short here looking at price ...lets see what happends...
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- #4,538
- Jul 24, 2008 8:39am Jul 24, 2008 8:39am
Guess what, i traded this demo, was long at the beginning then reverse to short while it was still early base on that fib that showed more resistance then the intraday wich only showed whimpy support. Took profit at 9926 for a + 50 pips.
If this would had been real money, i am not sure i would have took same decision.
I intend to stay demo for at least a month untill it is clear i can make it.
Mom
"To conquer fear is the beginning of wisdom." – Bertrand Russell
- #4,539
- Jul 24, 2008 8:51am Jul 24, 2008 8:51am
- | Commercial User | Joined Oct 2006 | 2,560 Posts
Good for you, stay with the demo until you are comfortable with your decisions and then move to live and carry on just as if it were demo and you will do fine.
Hi Mom, how have you been doing