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Fibonacci Trading with Bobokus

  • #5,201
  • Aug 17, 2008 10:53pm Aug 17, 2008 10:53pm
Quoting kc8flq
I managed to get 3 chunks of it recorded. But I missed the first part of Bo's teaching when Sherm turned it over to him before I realized it stops recording after the screen is refreshed.
The meeting was just PRICELESS. I'll try to get the pieces posted on a shared folder sometime.
Happy Pippin'
KC
Thanks for sharing your recording and if anyone has recorded the first part that would be perfect as I was attended to work during the learining session.

Ren
  • #5,202
  • Aug 17, 2008 11:08pm Aug 17, 2008 11:08pm
Quoting Shermenator
I will now get in trading room....anyone is welcome to joing....
I will be joining right now, hope your still there.

TheLegace.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #5,203
  • Aug 18, 2008 12:38am Aug 18, 2008 12:38am
Currently short when my previous candles low broke and because we have a nice swing short.......
I have pulled my intraday high up but not really sure if I should have moved it...I am looking for the intraday levels....

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  • #5,204
  • Aug 18, 2008 1:08am Aug 18, 2008 1:08am
Quoting Shermenator
Currently short when my previous candles low broke and because we have a nice swing short.......
I have pulled my intraday high up but not really sure if I should have moved it...I am looking for the intraday levels....

Attachment

could you explain why did you went short...i am some what confused to go long or short
  • #5,205
  • Aug 18, 2008 1:31am Aug 18, 2008 1:31am
Quoting xscamx
could you explain why did you went short...i am some what confused to go long or short
I stopped and reversed...

I am a bitt confused right now about pulling up my intraday high
  • #5,206
  • Aug 18, 2008 1:41am Aug 18, 2008 1:41am
Quoting Shermenator
Currently short when my previous candles low broke and because we have a nice swing short.......
I have pulled my intraday high up but not really sure if I should have moved it...I am looking for the intraday levels....

Attachment
Good luck with your short......on Mondays I prefer to see the Brits in action after the London Open to bring in some volume before I start trading. Also, price is still above the Asian Open - 8640 area and the daily pivot at 8618 - both of these should give some support....TWT
Trading Levels with WRBs
  • #5,207
  • Aug 18, 2008 1:43am Aug 18, 2008 1:43am
Hi S,

At what price would you consider this a failed trade if it doesn't make your target, since price has already breached previous intraday high?
Given pinbar on Daily, I am preferring to wait out a retracement (if it comes) and go long.
Currently playing out these market conditions with a bet each way: Long USDJPY @ 110.18 and Long EURUSD @ 1.4745 (using intraday fibs)
Good luck - hope your judgement pays out.
cheers and thanks for all the sharing,
k

Quoting Shermenator
Currently short when my previous candles low broke and because we have a nice swing short.......
I have pulled my intraday high up but not really sure if I should have moved it...I am looking for the intraday levels....

Attachment
  • #5,208
  • Aug 18, 2008 1:50am Aug 18, 2008 1:50am
Quoting katarche
Hi S,

At what price would you consider this a failed trade if it doesn't make your target, since price has already breached previous intraday high?
Given pinbar on Daily, I am preferring to wait out a retracement (if it comes) and go long.
Currently playing out these market conditions with a bet each way: Long USDJPY @ 110.18 and Long EURUSD @ 1.4745 (using intraday fibs)
Good luck - hope your judgement pays out.
cheers and thanks for all the sharing,
k
I reversed my short when 8714 broke....I am looking for 8746 to break even for the night ...

I have pulled my intraday high back the fridays high
  • #5,209
  • Aug 18, 2008 2:09am Aug 18, 2008 2:09am
where the heck is this currency going......i am currently very confused right now
  • #5,210
  • Aug 18, 2008 2:14am Aug 18, 2008 2:14am
usdjpy i think coming down and must go short i am waiting coming under 110.02 and close there
why u went long?
  • #5,211
  • Aug 18, 2008 2:17am Aug 18, 2008 2:17am
Quote
where the heck is this currency going......i am currently very confused right now

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


If u r getting confused, then stay out of trade till the coast is clear.
  • #5,212
  • Aug 18, 2008 2:18am Aug 18, 2008 2:18am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Still early in the trading session. This could be a stop sweep taking out all the longs before going up (or not). If it breaks the highs we'll know..lol. I'm currently waiting for a test of the .50 to see what's going on, or I have my buy stop above just in case.
"Wishful thinking dies hard." Igor T.
  • #5,213
  • Aug 18, 2008 2:27am Aug 18, 2008 2:27am
I am short in this currency had to reverse today 2 times.....

But i have understood the intraday can be a bitt like the swing fibb...except it can only be moved to certain spots....I am currently trading back to the intraday levels...

Attached Image (click to enlarge)
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  • #5,214
  • Aug 18, 2008 2:28am Aug 18, 2008 2:28am
Quoting xx13x13
usdjpy i think coming down and must go short i am waiting coming under 110.02 and close there
why u went long?
Went long UJ earlier when price bounced from 109.95. But you're right - I might have been jumping the gun... lol... currently price is ranging around intraday pivot....

GU is at 62 period envelope - maybe a ranging period for now? until some news or a decent move gather momentum...
  • #5,215
  • Aug 18, 2008 2:30am Aug 18, 2008 2:30am
Quoting katarche
Hi S,

At what price would you consider this a failed trade if it doesn't make your target, since price has already breached previous intraday high?
Given pinbar on Daily, I am preferring to wait out a retracement (if it comes) and go long.
Currently playing out these market conditions with a bet each way: Long USDJPY @ 110.18 and Long EURUSD @ 1.4745 (using intraday fibs)
Good luck - hope your judgement pays out.
cheers and thanks for all the sharing,
k
you are realy right usdjpy go up
  • #5,216
  • Aug 18, 2008 2:42am Aug 18, 2008 2:42am
I would say u can hold that long to 114-118 with good risk management.
  • #5,217
  • Aug 18, 2008 2:55am Aug 18, 2008 2:55am
in eur/usd i entered in blue candle when closed above the intraday long but u can see what happened?
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  • #5,218
  • Aug 18, 2008 3:09am Aug 18, 2008 3:09am
Over next week or so we could see the euro retest 1.50. But I would only use that as a chance to sell to 1.40-1.44 area. Draw a fib from bottom the top of a montly around 2000, 2001, 2002 up to the 1.59 level where is topped out. you should have a 23 retracement at about 1.42.
  • #5,219
  • Aug 18, 2008 3:45am Aug 18, 2008 3:45am
Can anyone explain to me The " Stop and Reverse" move? What it really is and when is the best time to do it? I hear Bo and some of the more experienced traders do this from time to time. Is it really a good thing to do or is it risky getting into because of being whipsawed?


"Its the little pips in life that are the most satisfying" - Docter Packenwood
  • #5,220
  • Aug 18, 2008 4:10am Aug 18, 2008 4:10am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Regression Channel is holding for now, but Intraday levels haven't been tested yet. Bo - Would this be a good point to place a buy stop above the highs of the previous candle because it looks like momentum is slowing? I'm hesistant to do so b/c of the swing, but you also say we're placing too much emphasis on it anyways. This trade is in the direction of the Intraday swing more importantly, but I'm undecided so just watching to see what happens.
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"Wishful thinking dies hard." Igor T.
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