Fibonacci Trading with Bobokus | Page 231 | 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

  • #4,601
  • Jul 29, 2008 2:00am Jul 29, 2008 2:00am
If am correct we had 4 entries that we could had taken action....

One is when we broke the low of the swing .
Second one is when momentume broke the previous candle low.
This was long when price broke the high of the bullish candle.
And 4 when price broke the Intraday High.

Start y looking at the first arrow to the left and end with the one on the right

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 34 KB


I just woke up but will see if the market has omething to offer....
  • #4,602
  • Jul 29, 2008 2:20am Jul 29, 2008 2:20am
Quote
If am correct we had 4 entries that we could had taken action....

One is when we broke the low of the swing .
Second one is when momentume broke the previous candle low.
This was long when price broke the high of the bullish candle.
And 4 when price broke the Intraday High.


Usually, i don't trust swing fib but i tried it today for the first time and it was a winner. my bias was long bcoz price bounced at our intra-day long, but it did without any price action and this left me in doubt. Price action in the sense that i'd like to see reversal candle for long.


and i was in the mood to trade, so i said let me try the swing fib, coz i was sure of my bias for long but a defective type(weak) due to lack of price action.


So i fib hi 1.9962 to lo 1.9916, and the break of the inner fib long gave 16pips. not bad.
  • #4,603
  • Jul 29, 2008 2:36am Jul 29, 2008 2:36am
i just went long... not sure how far can it go..... anybody else going loong
  • #4,604
  • Jul 29, 2008 2:39am Jul 29, 2008 2:39am
Quoting xscamx
i just went long... not sure how far can it go..... anybody else going loong
You are pulling the trigger based on fear of not getting in a trade or missing it...I missed the trade for sleeping unless I see another nice entry I could care less if it explodes up 100 pips...
  • #4,605
  • Jul 29, 2008 2:44am Jul 29, 2008 2:44am
Quoting Shermenator
You are pulling the trigger based on fear of not getting in a trade or missing it...I missed the trade for sleeping unless I see another nice entry I could care less if it explodes up 100 pips...
well i entered base on a swing fib... which i decided to take the trade... i understand that there is risk to ever trade...
  • #4,606
  • Jul 29, 2008 2:51am Jul 29, 2008 2:51am
I see no real momenutum in the market....price has reach large swing fibb resistance levels swing short from a large 4 hour swing....also keep in mind price is having a bitt of a promblem with momentum at in traday high and this is also the upward part of the channel from the past couple of days going down....I f we begin to start braking lows we will begin to see and M formation....and depending on what I see I will make a trade or not. I fprice does not pick up I will call it a night.

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 34 KB
  • #4,607
  • Jul 29, 2008 4:23am Jul 29, 2008 4:23am
I am currently short in eurusd scalping back down since its against intraday levels....
watching price action

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 32 KB
  • #4,608
  • Jul 29, 2008 4:42am Jul 29, 2008 4:42am
Closed eur/usd at break even dont like price movement...
  • #4,609
  • Jul 29, 2008 6:13am Jul 29, 2008 6:13am
anybody here trading the g/j
  • #4,610
  • Jul 29, 2008 6:24am Jul 29, 2008 6:24am
Quoting xscamx
anybody here trading the g/j
I've recently worked my way out of it. It's pulled back and forth by it's cross pairs too much.
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #4,611
  • Jul 29, 2008 8:20am Jul 29, 2008 8:20am
The trend can be seen from a daily chart, a one hour chart is too close to see it. Zoom out to a larger time frame. Before you decide to take a trade, look at how the swing is biased..... is it long or short biased?

I use a 62 envelope and I only pay attention to it on an hourly chart as Bo said in previous posts.

Happy Pippin'
KC

Quoting xscamx
well i am confused right now.... i have a swing for a buy and sell..... how do you know which one to take......i would not want to end up with a loss today... so i am going to wait and see what happen... any of you guys have an idea on do you determine the trend... it would make a difference in deciding to go long or short
  • #4,612
  • Jul 29, 2008 9:30am Jul 29, 2008 9:30am
just asking does anybody knows why did g/u went down so much...
  • #4,613
  • Jul 29, 2008 9:35am Jul 29, 2008 9:35am
Quoting xscamx
just asking does anybody knows why did g/u went down so much...
prob because to the Consumer Confidence news at 10am, and the decreasing in oil price. i dont trade during news hours anyway, im looking to long the cable after 11pm if the charts confirms it.
  • #4,614
  • Jul 29, 2008 9:58am Jul 29, 2008 9:58am
Quoting xscamx
just asking does anybody knows why did g/u went down so much...
Not sure, but there was this release that: Merrill Lynch has just recently announced that they will offer common shares of their stock worth 8.5 billion. This could weigh heavily on the US equity market on tomorrow's open, and in turn on USD.

and later: USD rising against JPY, EUR as Europe investors buying back USD. Looks like European players are buying back the dollar as Asian stocks didn't fall so much comparing with big falls in U.S. stocks last night, raising fears of global financial unrest

That being the case, all USD pairs with Usd listed second will be in the sell off position. Then remember GJ and EJ, etc are controlled by the 2 pair so if UJ is sitting still or moving slow the GU or EU will control the direction of GJ and EJ, etc.
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #4,615
  • Jul 29, 2008 10:08am Jul 29, 2008 10:08am
GBP CBI report was very bad at 6.00. GBP started dropping at 6:00. the sales for uk dropped twice the expected value
  • #4,616
  • Jul 29, 2008 10:20am Jul 29, 2008 10:20am
well all this news cause it to come down so much.... well that shows that all types of news are dangerous....well i am out for today hopefully tomorrow i will have a better day
  • #4,617
  • Jul 29, 2008 10:25am Jul 29, 2008 10:25am
here is a trade i took sometime back. Even though I locked in a lot of pips I wanted to know was the entry correct at the close of the doji?
Attached Image (click to enlarge)
Click to Enlarge Name: untitled.JPG Size: 121 KB
  • #4,618
  • Jul 29, 2008 10:29am Jul 29, 2008 10:29am
Quoting bksujal
here is a trade i took sometime back. Even though I locked in a lot of pips I wanted to know was the entry correct at the close of the doji?
should be correct but you could have entered on the close of the candle before the doji.... i am not mistaken.... but could i know what are the other indicators that you are you...
  • #4,619
  • Jul 29, 2008 10:30am Jul 29, 2008 10:30am
qqe. This indicator is really good.
  • #4,620
  • Jul 29, 2008 10:32am Jul 29, 2008 10:32am
Quoting bksujal
here is a trade i took sometime back. Even though I locked in a lot of pips I wanted to know was the entry correct at the close of the doji?
In my opinion, a short after a close below the Pivot, short from a double top formation, was a safe call, but remember a doji can be a reversal candle.
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
1 trader viewing now