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Fibonacci Trading with Bobokus

  • #4,861
  • Aug 7, 2008 9:35am Aug 7, 2008 9:35am
Let's see where the hourly bar is closing.
  • #4,862
  • Aug 7, 2008 9:50am Aug 7, 2008 9:50am
Quoting Shermenator
I see....since the sentiment on the dollar has changed a bitt fundamentally that suport might not be as powerfull since the sentiment overall has changed a bitt since last time that it served as support. Since the sentiment has changed a bitt the Big boys way of investing has changed as well. I think the bloomberg stuff you told me to read every day is working. I have learned much I am up 120 pips for the week with this trade thanks for the help Bobokus.
Just dont let the "experts" set a bias for you, you should trade without a bias and simply trade what you see. When you have a bias it tends to make you trade in that direction only.Watching the news reports is just to get a feel for what is going on in the other markets, they all affect each other. If your trading the major pairs you look for things on other markets that show either dollar strength or weakness. The same money just moves around to where ever the potential for profits are. There isnt an infinite supply of it. (unless your the Fed) you can print as much as necessary and pretend there is an infinite supply of cash.
  • #4,863
  • Aug 7, 2008 9:52am Aug 7, 2008 9:52am
I only have 20 percent of my trade still open...I will secure more profits at the end of the hour....I will pull my stop to this pins high....I will not take the break of the pin bar for 3 reasons ...time of day (volume will come down we might get a bitt of consolidation ) ....second I have made my pips for the day and whant my pips to at least stay in my account to london session lol....and third their is not enough space for a quick scalp....

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  • #4,864
  • Aug 7, 2008 9:53am Aug 7, 2008 9:53am
Quoting Bobokus
Just dont let the "experts" set a bias for you, you should trade without a bias and simply trade what you see. When you have a bias it tends to make you trade in that direction only.Watching the news reports is just to get a feel for what is going on in the other markets, they all affect each other. If your trading the major pairs you look for things on other markets that show either dollar strength or weakness. The same money just moves around to where ever the potential for profits are. There isnt an infinite supply of it. (unless your the Fed) you can print as much as necessary and pretend there is an infinite supply of cash.
I agree 100% on that, he he...
  • #4,865
  • Aug 7, 2008 9:54am Aug 7, 2008 9:54am
Quote
Just dont let the "experts" set a bias for you, you should trade without a bias and simply trade what you see. When you have a bias it tends to make you trade in that direction only.Watching the news reports is just to get a feel for what is going on in the other markets, they all affect each other. If your trading the major pairs you look for things on other markets that show either dollar strength or weakness. The same money just moves around to where ever the potential for profits are. There isnt an infinite supply of it. (unless your the Fed) you can print as much as necessary and pretend there is an infinite supply of cash.

http://www.forexfactory.com/images/buttons/quote.gif


Bobokus, can u provide link to where other market can be monitored.
thanks
  • #4,866
  • Aug 7, 2008 9:57am Aug 7, 2008 9:57am
Quoting Bobokus
Nice job everyone...Aad and Sherm you traded out your plan very nicely, it couldnt have played out any better. Now by following behind price with your sell stop (in a downtrend) your in sinc with the market, all thats in your way is yesterdays low. Just be carefule reading candle formations on the 1 hour, they are not as sure a thing as they are on higher timeframes.
Steve and Jono welcome to the thread !
And of coarse hello Galaxymom.
thanks Bo - great to see your excellent thread is still well supported http://www.forexfactory.com/images/icons/icon14.gif
  • #4,867
  • Aug 7, 2008 10:04am Aug 7, 2008 10:04am
I only have 20 percent of my trade still open...I will secure more profits at the end of the hour....I will pull my stop to this pins high....I will not take the break of the pin bar for 3 reasons ...time of day (volume will come down we might get a bitt of consolidation ) ....second I have made my pips for the day and whant my pips to at least stay in my account untill london session lol....and third their is not enough space for a quick scalp....
Alright guys I am falling asleep...have a good day I will be back up in a bitt...thanks for all your help BOBOKUS

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  • #4,868
  • Aug 7, 2008 10:11am Aug 7, 2008 10:11am
Quoting Naijafx
Bobokus, can u provide link to where other market can be monitored.
thanks
Any tv market news channel, i dont use any special news feeds or anything.
  • #4,869
  • Aug 7, 2008 10:17am Aug 7, 2008 10:17am
Quoting galaxymom
Hey Steve, What took you so long?
Hehe Kathy. I tried the thread soon after Bo started it but couldn't get to grips with multiple fibs.

I have this time, and hope to make my trading more accurate than simply pulling a fib over the most recent decent-sized swing and trading the bounce\refusal. It works; I just want it to work better.

The info Bo gives in the first few posts is invaluable. 10 pages or so into the thread and his supplementary stuff is like gold dust. I am enjoying myself.

  • #4,870
  • Aug 7, 2008 10:37am Aug 7, 2008 10:37am
Quoting SteveHopwood
Hehe Kathy. I tried the thread soon after Bo started it but couldn't get to grips with multiple fibs.

I have this time, and hope to make my trading more accurate than simply pulling a fib over the most recent decent-sized swing and trading the bounce\refusal. It works; I just want it to work better.

The info Bo gives in the first few posts is invaluable. 10 pages or so into the thread and his supplementary stuff is like gold dust. I am enjoying myself.

It was the same for me, but I came back in January and mastered it with Bo's excellent help, it's the best stuff on the planet! Enjoy!
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #4,871
  • Aug 7, 2008 7:49pm Aug 7, 2008 7:49pm
I wonder from where came that crazy move across the board. No news i can find had happen. Eur-yen, gbpusd, eurusd drope, 120 pips for eur-yen, rather unusual.. Did good pips out of it!
Harmonics and Pitchfork using korHarmonics from TradingArsenal
  • #4,872
  • Aug 7, 2008 8:53pm Aug 7, 2008 8:53pm
Quoting GreatYves
I wonder from where came that crazy move across the board. No news i can find had happen. Eur-yen, gbpusd, eurusd drope, 120 pips for eur-yen, rather unusual.. Did good pips out of it!

Dont know, it wont make any difference,we know what the direction is gonna be now. 1.9400 is broken and testing the yearly low now. Nice job on the pips, My sell stop below todays low was hit and I was no where around I didnt expect this so soon, got back and checked on it...all smiles.
  • #4,873
  • Aug 7, 2008 8:54pm Aug 7, 2008 8:54pm
Be aware of the retracement low...its to early for anything so far...

Our intraday has already served its purpose today..

1 hour chart...

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  • #4,874
  • Aug 7, 2008 8:59pm Aug 7, 2008 8:59pm
If this push can continue into the London session we may get to see the wheels fall off the wagon.....LOL
  • #4,875
  • Aug 7, 2008 9:09pm Aug 7, 2008 9:09pm
Hey guys watching the market now, hope I didn't miss anything, well either way trade oppurtunities come either way, so I am not worried.


Good Luck with the London session, I don't think I will be awake for it, but I will be getting up at 7EST to trade New York, I might just stick around for asian, and go to sleep an hour or two before London starts, I did that the other day, set my profits/stops and it worked out well, risky I know, but we'll see what happens.

Thanx.
TheLegace
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #4,876
  • Aug 7, 2008 9:32pm Aug 7, 2008 9:32pm
hey guys i missed the whole down movement... was asleep too bad for me.... but may i ask what is expected to happen the rest of the day today
  • #4,877
  • Aug 7, 2008 9:39pm Aug 7, 2008 9:39pm
Quoting xscamx
hey guys i missed the whole down movement... was asleep too bad for me.... but may i ask what is expected to happen the rest of the day today

Long positions are being liquidated...lol, into the panic selling now.
  • #4,878
  • Aug 7, 2008 9:44pm Aug 7, 2008 9:44pm
Its gone crazy!!!!!

Bo do you think It will consolidate a bitt
for london session ...?

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  • #4,879
  • Aug 7, 2008 9:47pm Aug 7, 2008 9:47pm
i guess this might be a stupid question.... how come the g/u move so much during the asian session......i think what happen today is something that rarely happen
  • #4,880
  • Aug 7, 2008 9:50pm Aug 7, 2008 9:50pm
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
I guess support didn't hold this time. lol It's gone 123 pips already since the "beginning" of this trading day. Good job Bo and whoever else had it. I missed the bus on this one and will be looking for an entry based on my swing fib whenever this retraces. It looks like the head and shoulders pattern on the weekly chart is finally ready to play out. Sweet!!!
"Wishful thinking dies hard." Igor T.
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