Dislikedhey bo... i would just like to ask you dont mine.... what would your stop loss be if lets say your in the wrong direction... how do you exactly determine that...Ignored
Fibonacci Trading with Bobokus
- #4,803
- Aug 6, 2008 5:16pm Aug 6, 2008 5:16pm
- Joined Jan 2008 | Status: Trader | 2,996 Posts
Last edited by kc8flq, Today 6:09pm Reason: cuz I can
thats was funny lol
thats was funny lol
- #4,804
- Aug 6, 2008 5:23pm Aug 6, 2008 5:23pm
- Joined Jan 2008 | Status: Trader | 2,996 Posts
Alright here is my update on gbpusd...
keep in mind price is moving down nicely...
This is my daily chart be aware of price action at t1....let price tell you what to do....
1 hour chart...
bearish Intraday this is my setup for today
keep in mind price is moving down nicely...
This is my daily chart be aware of price action at t1....let price tell you what to do....
1 hour chart...
bearish Intraday this is my setup for today
- #4,808
- Aug 7, 2008 1:35am Aug 7, 2008 1:35am
- Joined Jan 2008 | Status: Trader | 2,996 Posts
Price broke out of consolidation upward I simply did not take it because I did not feel like we had enough space to run long before hitting the intraday levels its also a pul back trade. If anything I will let support prove itself once more and then I will take it long. I still have no bias in any drection...
- #4,809
- Aug 7, 2008 2:52am Aug 7, 2008 2:52am
- | Commercial User | Joined Apr 2007 | 8,331 Posts
Hey guys, it will be a little while before I start to make a contribution to the discussion - got a few hundred pages to read first
I can help with stop loss manipulation, because that is the principal function of my own trade management ea. It provides a variety of jumping and trailing stops for setting breakeven points and locking in profits, and offers the option to close half a trade when a target is hit (I am going to extend that, but need my 'programming head' on first).
The ea is freely available here at FF - just click on the link in my signature to find the page.
Thanks for the thread, Bo, and all the others whose invaluable contributions I shall be reading in the coming days. I will chime in again, when I think I have something useful to say.
I can help with stop loss manipulation, because that is the principal function of my own trade management ea. It provides a variety of jumping and trailing stops for setting breakeven points and locking in profits, and offers the option to close half a trade when a target is hit (I am going to extend that, but need my 'programming head' on first).
The ea is freely available here at FF - just click on the link in my signature to find the page.
Thanks for the thread, Bo, and all the others whose invaluable contributions I shall be reading in the coming days. I will chime in again, when I think I have something useful to say.
- #4,810
- Aug 7, 2008 2:59am Aug 7, 2008 2:59am
- Joined Jan 2008 | Status: Trader | 2,996 Posts
Hey guys, it will be a little while before I start to make a contribution to the discussion - got a few hundred pages to read first
I can help with stop loss manipulation, because that is the principal function of my own trade management ea. It provides a variety of jumping and trailing stops for setting breakeven points and locking in profits, and offers the option to close half a trade when a target is hit (I am going to extend that, but need my 'programming head' on first).
The ea is freely available here at FF - just click on the link in my signature to find the page.
Thanks for the thread, Bo, and all the others whose invaluable contributions I shall be reading in the coming days. I will chime in again, when I think I have something useful to say.
- #4,812
- Aug 7, 2008 3:15am Aug 7, 2008 3:15am
- Joined Jan 2008 | Status: Trader | 2,996 Posts
GBPUSD
I did not take the break of the break of the Inside bar...I dont trust it ....Its a bearish intraday (yellow fibb)
Anything againt the intraday levels is treated as a scalp untill price brakes the 61.8 fibb ...not with the wick but with a close of body of a candle on the other side....
Though if 9514 breaks expect buy stops to get triggered...though It would be treated like a scalp...
I did not take the break of the break of the Inside bar...I dont trust it ....Its a bearish intraday (yellow fibb)
Anything againt the intraday levels is treated as a scalp untill price brakes the 61.8 fibb ...not with the wick but with a close of body of a candle on the other side....
Though if 9514 breaks expect buy stops to get triggered...though It would be treated like a scalp...
- #4,814
- Aug 7, 2008 3:41am Aug 7, 2008 3:41am
- Joined Jan 2008 | Status: Trader | 2,996 Posts
I have a sell stop waiting for me below the previous candles low...
I will move each hour to the last candles low as of right now...as long as 9514 does not brake..If it does brake we are stairsteeping up and I will sit down and make a decision on what I see...
I will move each hour to the last candles low as of right now...as long as 9514 does not brake..If it does brake we are stairsteeping up and I will sit down and make a decision on what I see...
- #4,815
- Aug 7, 2008 4:05am Aug 7, 2008 4:05am
- Joined Jan 2008 | Status: Trader | 2,996 Posts
I have moved my sell stop to the previous candles low...
You can place a buy stop above 9514 as well as a sell stop at 9482...
One trade has more probabilty then the other and thats the brake short....Its with the trend ...If you decide to take the brake north its simply a harder trade and needs more caring.....Treat as a scalp against the intraday levels...(yellow fibb)
You can place a buy stop above 9514 as well as a sell stop at 9482...
One trade has more probabilty then the other and thats the brake short....Its with the trend ...If you decide to take the brake north its simply a harder trade and needs more caring.....Treat as a scalp against the intraday levels...(yellow fibb)
I have moved my sell stop to the previous candles low...
You can place a buy stop above 9514 as well as a sell stop at 9482...
One trade has more probabilty then the other and thats the brake short....Its with the trend ...If you decide to take the brake north its simply a harder trade and needs more caring.....Treat as a scalp against the intraday levels...(yellow fibb)
Attachment
- #4,817
- Aug 7, 2008 4:49am Aug 7, 2008 4:49am
- Joined Jan 2008 | Status: Trader | 2,996 Posts
Price can run out of volume around this area ....if you are long you can close your scalp in this area .....
as well as this counter swing targets....you what to be aware of all this areas since you dont whant to loose in a scalp because of not knowing of certain extensions...
as well as this counter swing targets....you what to be aware of all this areas since you dont whant to loose in a scalp because of not knowing of certain extensions...
- #4,818
- Aug 7, 2008 5:06am Aug 7, 2008 5:06am
- Joined Jan 2008 | Status: Trader | 2,996 Posts
have brought up my sell stop ( that means I will reverse If hit)
I have also brought up the closes tear of support and will watch price action if it decides to come back down a bitt...
I have also brought up the closes tear of support and will watch price action if it decides to come back down a bitt...
- #4,820
- Aug 7, 2008 5:15am Aug 7, 2008 5:15am
- Joined Jan 2008 | Status: Trader | 2,996 Posts
Looks like 1.9515 is getting interesting...
Yep I agree....though take a look at how price is still finding support....as long as price continues to make higherhighs and higher lows momentum is still found for the bulls...
