Hi Bo, Sherm and everyone else, just want to say excellent thread, ive enjoyed reading it and watching the videos the last few days. I've learned alot about fibs from this thread.
Fibonacci Trading with Bobokus
- #4,762
- Aug 5, 2008 8:13pm Aug 5, 2008 8:13pm
- Joined Jan 2008 | Status: Trader | 2,996 Posts
Hi Bo, Sherm and everyone else, just want to say excellent thread, ive enjoyed reading it and watching the videos the last few days. I've learned alot about fibs from this thread.
- #4,764
- Aug 5, 2008 9:53pm Aug 5, 2008 9:53pm
- Joined Jan 2008 | Status: Trader | 2,996 Posts
hey shermenator what your analysis of the gbp/usd for today... looks like its going to e ranging to maybe i ll be looking at some other pair..
Looks like gbp usd is in a range....taking any breaks of highs or lows right now is not worth it in any direction. price is bouncing support and resistance. Whay I will be trading today is the breakout of the yellow box.....
If 1.9571 is taken expect alot of Buy stops to get trigger... as well as if 9519 goes out expect sell stops to be found....Price is also about to impact the smaller downtrend channel...(light green)
We are also at the low of a larger channel
If you have any currency you whant me to look at I will be glad to do so...
- #4,765
- Aug 5, 2008 10:29pm Aug 5, 2008 10:29pm
- Joined Jan 2008 | Status: Trader | 2,996 Posts
Price is making the pullback right now on the eur/usd I grabbed my intraday all the way from the movement coming down from yesterday....
Price also broke a littel downward channel though keep in mind its very verical so its not as powerful.
First its to early to take a counter fibb trade and second price has not proved itself to find support yet....
This is an extra analysis so I wont post different currency to prevent clutter unless asked for. I will update on gbpusd for whats left of today and maybe a bitt of euro.
Price also broke a littel downward channel though keep in mind its very verical so its not as powerful.
First its to early to take a counter fibb trade and second price has not proved itself to find support yet....
This is an extra analysis so I wont post different currency to prevent clutter unless asked for. I will update on gbpusd for whats left of today and maybe a bitt of euro.
- #4,768
- Aug 6, 2008 12:46am Aug 6, 2008 12:46am
- Joined Jan 2008 | Status: Trader | 2,996 Posts
Support has proven itslef once In the example with my swing fibb....I will wait for support to prove itself again and then I will make a call base on what I see...Keep in mind price did brake out of the range ....
This is my most recent tear of support...keep in mind the probabilty of winning today is on the bearish side....though as I mentioned be aware of the fact price stairsteeped up...
This is my most recent tear of support...keep in mind the probabilty of winning today is on the bearish side....though as I mentioned be aware of the fact price stairsteeped up...
- #4,769
- Aug 6, 2008 1:06am Aug 6, 2008 1:06am
- Joined Jan 2008 | Status: Trader | 2,996 Posts
would you look at eur/jpy... i am waiting for it to break intraday levels
I Dont trade this currency but here is a look at it...
in the eur/jpy we did in fact had a bounce of the 61.8 fibb from the swing...
Here is my 4 hour chart so you can look at my fibbs...I have more then ussual on...but just for the example they are on
If price breaks the previous candles low I would watch price action as it heads back down at the support counter to the intraday levels...
- #4,771
- Aug 6, 2008 1:15am Aug 6, 2008 1:15am
- Joined Jan 2008 | Status: Trader | 2,996 Posts
Just took a short position. I've been watching a different fib swing though. I saw that price tested the .50 of intraday (and high of swing fib) and was rejected with an opening below our short condition. So I've entered one position. I'm looking for price to test the swing fib levels and if price opens below I'll be adding another position there b/c this would signal a failure of swing fib to meet it's up targets. I'd also like to see price enter the LR channel again (light blue) for further confirmation. Price has also opened below the up TL (khaki color). I was also looking at a LR channel (in dark blue) that price has just come back into. It's still early in the session so anything can happen, but mainly waiting for my swing fib levels to be tested. Will reverse position if price can maintain levels above the swing 2 at 1.9600.
- #4,772
- Aug 6, 2008 1:21am Aug 6, 2008 1:21am
- Joined Jan 2008 | Status: Trader | 2,996 Posts
I have now pulled my swing fibb back and I am watching price action carefully....I will let price tell me when to revese if needed..
