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Fibonacci Trading with Bobokus

  • #4,621
  • Jul 29, 2008 11:35am Jul 29, 2008 11:35am
[quote]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?['quote]

That was a perfect entry. that candle is never a good doji, it was an Inside bar, which implies retracement for more momentum.

It was a good one and i miss it. interestingly, it occured at an important intra-day short break-out. good ride down
  • #4,622
  • Jul 29, 2008 11:39am Jul 29, 2008 11:39am
While trying to keep up with the current posts while catching up from the beginning of the thread I am using both the daily fib and the intraday fairly comfortably and cautiously grabbing 20 to 40 pips each day, mostly because I don't have the time to sit on the screen.

I need help with two things I haven't yet figured how to do:

1. what is a 62 envelope and how do you draw it ?
2. When and how do you implement a swing fib ?

thanks in advance.
  • #4,623
  • Jul 29, 2008 11:58am Jul 29, 2008 11:58am
Quoting prov1813
While trying to keep up with the current posts while catching up from the beginning of the thread I am using both the daily fib and the intraday fairly comfortably and cautiously grabbing 20 to 40 pips each day, mostly because I don't have the time to sit on the screen.

I need help with two things I haven't yet figured how to do:

1. what is a 62 envelope and how do you draw it ?
2. When and how do you implement a swing fib ?

thanks in advance.
Bo is no longer using the envelope. It is not necessary for trading well, but it is a guide to whether you should sell of buy depending on where price is in relation to the envelope.

You may implement a Swing fib for a retracement of the Intraday Fib.
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #4,624
  • Jul 29, 2008 12:13pm Jul 29, 2008 12:13pm
This is just something FYI that should be catching your eye or to show that you should be looking at the bigger picture sometimes and take a long term view of whats been going on throuout the coarse of the year. Even though its a little early to say this month will close inside this band Ive included this months close as well. If this month does close inside this band we will look to the close of August to see if price can break from this pattern this year.
Attached Image(s) (click to enlarge)
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  • #4,625
  • Jul 29, 2008 12:20pm Jul 29, 2008 12:20pm
Quoting prov1813
While trying to keep up with the current posts while catching up from the beginning of the thread I am using both the daily fib and the intraday fairly comfortably and cautiously grabbing 20 to 40 pips each day, mostly because I don't have the time to sit on the screen.

I need help with two things I haven't yet figured how to do:
1. what is a 62 envelope and how do you draw it ?
2. When and how do you implement a swing fib ?

thanks in advance.
Galaxymom is right I dont use the envelope it was merely to help those that cannot tell if the pair is trending or not. As long as price was maintained to one side of the envelope its trending when viewed from the 1 hour timeframe once it broke the envelope its an early sign that the trending move is over and you can expect some ranging at that point and possibly a reversal of direction coming soon. Same way when price retraces more than a 61.8% level over its Intraday movement is an early sign of a possible reversal coming.
  • #4,626
  • Jul 29, 2008 12:45pm Jul 29, 2008 12:45pm
If your short today now is a good time to be taking some profits out, price has just pushed into the 1.9770 level and me personally would take a majority out here and let a small portion run with a stoploss set to 1.9809, If there is continuation from here follow behind the highs of these candles now with a stop loss.
  • #4,627
  • Jul 29, 2008 4:54pm Jul 29, 2008 4:54pm
Its a Bearish Intraday keep in mind it should make somewhat of a pullback but if later at night price brakes south with momentum and I believe that is the way then I will let price tell me if I am wrong or not. If I am wrong I will sit down and wait for the market to get to how I like it again and take my best shot. With time my shoots will improve since I will have experience under my belt.

Attached Image (click to enlarge)
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  • #4,628
  • Jul 29, 2008 8:11pm Jul 29, 2008 8:11pm
I guess everybody seen it, have you notice that price hit T2 from yesterday intraday to the pip. It exceeded it by 2 pips only.

Also all daily candle from last week have retrace for more then 61.8%. I guess the same is to be expected today, probability it happen for today`s candle is strong. (i`m trying to convince myself to hold that long..)
Harmonics and Pitchfork using korHarmonics from TradingArsenal
  • #4,629
  • Jul 29, 2008 8:43pm Jul 29, 2008 8:43pm
Here is a 4 hour chart of mine how its set up....we have broken out of major move up ....and we also ended a bullish move up that started on july 24 and ended this morning with the big drop....

Attached Image (click to enlarge)
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Here is how my chart looks from a 1 hour view...

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Keep in mind the center of the lrc since the center holds as resistance...
(Green One)
  • #4,630
  • Jul 29, 2008 8:43pm Jul 29, 2008 8:43pm
Quoting bksujal
qqe. This indicator is really good.
hey i have that indicator but i dont know how to use it..
  • #4,631
  • Jul 29, 2008 9:04pm Jul 29, 2008 9:04pm
hello shermenator, could upload your indicator and template, it looks nice, or whre can i find your indicator and template?

thank you so much
  • #4,632
  • Jul 29, 2008 9:18pm Jul 29, 2008 9:18pm
Quoting moshnjack
hello shermenator, could upload your indicator and template, it looks nice, or whre can i find your indicator and template?

thank you so much

Well I use a tool called Linear regression channel....its a tool like fibbs you manully place them...and everything else you see in my chart is fibbs....

Here is my template...I only use stuff tought by BOBOKUS so everything in my chart is tought in this thread. Any questions feel free to ask.
BOBOKUS is a top trader you should read the thread its priceless.

Attached File(s)
File Type: tpl gbpgbp.tpl   4 KB | 440 downloads
  • #4,633
  • Jul 29, 2008 10:14pm Jul 29, 2008 10:14pm
hey shermenator could you explain how do pull the regression channel
  • #4,634
  • Jul 29, 2008 10:25pm Jul 29, 2008 10:25pm
Quoting xscamx
hey shermenator could you explain how do pull the regression channel
I use the channels exactly like Bobokus tought us in this thread....Its on page 277 ,post #4155 he explains in rich detail how to use it .

If you have any questions on it feel free to ask me I will try an help at my best
  • #4,635
  • Jul 29, 2008 11:26pm Jul 29, 2008 11:26pm
Just goes to show ya that I'm still reading the thread, it's a work in progress.

Quoting galaxymom
Bo is no longer using the envelope. It is not necessary for trading well, but it is a guide to whether you should sell of buy depending on where price is in relation to the envelope.

You may implement a Swing fib for a retracement of the Intraday Fib.
  • #4,636
  • Jul 30, 2008 12:52am Jul 30, 2008 12:52am
Quoting xscamx
hey i have that indicator but i dont know how to use it..
i use qqe with smoothing factor 5. I go short when the yellow line is below the dotted line and both the levels are below 50 and vice versa for long. This really works provided we use the intraday fib levels correctly.
  • #4,637
  • Jul 30, 2008 2:10am Jul 30, 2008 2:10am
Currently Long made 15 on the short but price actio told me to reverse lets see what happends...also a W formation forming and bad news expected for dollar tomorrow...

Attached Image (click to enlarge)
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  • #4,638
  • Jul 30, 2008 2:19am Jul 30, 2008 2:19am
has anybody entered the market yet.. i am currly confused with it direction
  • #4,639
  • Jul 30, 2008 2:21am Jul 30, 2008 2:21am
Quoting xscamx
has anybody entered the market yet.. i am currly confused with it direction
I made pips going short and now I am going up....I posted in my last post..
  • #4,640
  • Jul 30, 2008 3:07am Jul 30, 2008 3:07am
Still holding my long looking good...
Watching price enter intraday levels...
I will hawk price action now and make a decision based on what I see...

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