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Fibonacci Trading with Bobokus

  • #5,301
  • Aug 20, 2008 5:42pm Aug 20, 2008 5:42pm
Quoting prov1813
question: I downloaded the fib templates (thanks for that), and kept my own, just in case I made and error in the download. Here's the question:

My intraday high agrees with the template (8681), however my low was moved to yesterday's low of 8536 but I notice the template still holds 8510 as the low.

Can you clarify please ?
You just have to move them up to the new day.
  • #5,302
  • Aug 20, 2008 5:52pm Aug 20, 2008 5:52pm
Quoting Shermenator
Thanks for teaching me how to trade the way I do. Yesterday I finnally understood how to trade the fibbs it took a good amount of the time but the adventure was worth it. Now I need experience under my belt and that will come with time. Thanks again and now is when the pips really begin lol
I cant really teach people how to trade, All I can do is show the tools and how I use them the rest is all up to you. If you begin to find success, its from your own hand and something to be proud of considering the failure rate of traders. Take what you learn (and not just here) and develope your own method basically making it your own. Thats when youll be comfortable enough to trade with real money because youve gained experience in something and have confidence in what your doing. You'll know because you wont have the "what would Bobokus do here", youll automatically think "this is what Im going to do." At your age you are going to be years ahead of the rest of your generation.
  • #5,303
  • Aug 20, 2008 5:52pm Aug 20, 2008 5:52pm
Quoting Bobokus
You just have to move them up to the new day.
emoticon for sheepish grin.

I had thought the template had updated itself since the high agreed with mine, so wasn't sure .

thanks
  • #5,304
  • Aug 20, 2008 5:56pm Aug 20, 2008 5:56pm
Quoting prov1813
emoticon for sheepish grin.

I had thought the template had updated itself since the high agreed with mine, so wasn't sure .

thanks
LOL, I wish it would , it would save us alot of trouble.
  • #5,305
  • Aug 20, 2008 6:55pm Aug 20, 2008 6:55pm
Quoting kc8flq
They are in .asr format, so if anyone knows whats needed to play 'em, let us all know, but heres the link to the folder
http://www.4shared.com/dir/6465636/9...9/sharing.html
Is there suppose to be audio, or is it just video?

Thanx for the upload.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #5,306
  • Aug 20, 2008 7:26pm Aug 20, 2008 7:26pm
Well, being a first time user of trading rooms, yes there was supposed to be audio but because I didn't educate myself appropriately , the audio wasn't recorded because I didn't know what I was doing. Just like whe n I started trading forex. But Bo is helping with the latter part.

Happy Pippin'
KC


Quoting TheLegace
Is there suppose to be audio, or is it just video?

Thanx for the upload.
  • #5,307
  • Aug 20, 2008 7:51pm Aug 20, 2008 7:51pm
Quoting kc8flq
Well, being a first time user of trading rooms, yes there was supposed to be audio but because I didn't educate myself appropriately , the audio wasn't recorded because I didn't know what I was doing. Just like whe n I started trading forex. But Bo is helping with the latter part.

Happy Pippin'
KC
You were not alone, i tried to record too the second half of the meeting but finished with no audio neither. Cause it is not mention anywhere you have to record the audio separatly...

I also notice a lot of people ask for the grafics to be refresh, when they can simply click the ChartShare Icon.
Harmonics and Pitchfork using korHarmonics from TradingArsenal
  • #5,308
  • Aug 20, 2008 8:23pm Aug 20, 2008 8:23pm
Well the next we have a seminar like that, I'll record it with camtasia. And post it in the same folder I did the last one.
The graphics refreshed after a few seconds for the most part on my end. But I have a somewhat slower connection than most.

Quoting GreatYves
You were not alone, i tried to record too the second half of the meeting but finished with no audio neither. Cause it is not mention anywhere you have to record the audio separatly...

I also notice a lot of people ask for the grafics to be refresh, when they can simply click the ChartShare Icon.
  • #5,309
  • Aug 20, 2008 10:05pm Aug 20, 2008 10:05pm
Hi,

I'm looking to start reading this thread.
Can anyone point to me besides start reading from 1st page:
- any summary to read?
- any template to install?

I'm not being lazy but this help me to get better understanding from the start.

thanks.
  • #5,310
  • Aug 20, 2008 10:58pm Aug 20, 2008 10:58pm
Quoting kc8flq
Well, being a first time user of trading rooms, yes there was supposed to be audio but because I didn't educate myself appropriately , the audio wasn't recorded because I didn't know what I was doing. Just like whe n I started trading forex. But Bo is helping with the latter part.

Happy Pippin'
KC
Well although its gonna be hard, I guess I'll have to try and figure it out by just watching video, this is why I hate propriatary formats like this, honestly who the hell wants to record just video anyway, I think it's pretty stupid, well its fine.

Thanx for everything, hell I didn't even know it was possible to record, so thanx again for taking the time and effort to upload, maybe I can get the jist of the system watching some trading, but the next workshop might work out much better.

Thanx again Bo and everyone.

TheLegace.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #5,311
  • Aug 20, 2008 10:59pm Aug 20, 2008 10:59pm
Quoting incrediblefx
Hi,

I'm looking to start reading this thread.
Can anyone point to me besides start reading from 1st page:
- any summary to read?
- any template to install?

I'm not being lazy but this help me to get better understanding from the start.

thanks.
Do yourself a favor and start from page one. There will come a point where you can skip ahead, and maybe Bo can guide you to the newest template, etc. Or just click on the paper clip and look for the newest attachments.

Best of luck.
Mom "To conquer fear is the beginning of wisdom." – Bertrand Russell
  • #5,312
  • Edited 11:03pm Aug 20, 2008 11:01pm | Edited 11:03pm
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Quoting incrediblefx
Hi,

I'm looking to start reading this thread.
Can anyone point to me besides start reading from 1st page:
- any summary to read?
- any template to install?

I'm not being lazy but this help me to get better understanding from the start.

thanks.
I suggest reading the entire thing from page 1. I jumped around a lot when I first started trading this method, and I've started going page by page and things click more when you do it that way. It's best to download Bo's most recent template he posted on Sunday with the current fib set-up as there's been a few modifications since the beginning of the thread, but the mod's make it simpler to use.

Good luck!
"Wishful thinking dies hard." Igor T.
  • #5,313
  • Aug 20, 2008 11:09pm Aug 20, 2008 11:09pm
Quoting incrediblefx
Hi,

I'm looking to start reading this thread.
Can anyone point to me besides start reading from 1st page:
- any summary to read?
- any template to install?

I'm not being lazy but this help me to get better understanding from the start.

thanks.
Go to the link below and click on the gbpusd.tpl file you see from Aug 17, 2008 6:59pm...

http://www.forexfactory.com/misc.php...0767&hideimg=1
  • #5,314
  • Aug 20, 2008 11:20pm Aug 20, 2008 11:20pm
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
I'm leaning towards taking short positions tonight based on what I'm seeing with the 4 hr chart and 1 hr chart, even though we're above Intraday long levels. Just wanted your thoughts on this Bo or anyone else.

I'm seeing these long wicks on 1 hr candles so I switch to the 4 hr and see it's at conflunece of down TL and the .50 fib level (mind the blue arrows on the 4 hr chart...just levels I'm watching). If this turns around and starts breaking 1 hr lows and trendlines, I'd assume that bullish momentum is weak because the swing didn't complete it's T1 or T2 targets from the retrace this morning. I'd be targeting strong support in the 1.8540 area followed by intraday targets. An opening below Intraday short would be gravy I think, but I'll most likely take breaks of candle lows and pull a swing along to show resistance points for aditional entries.

I don't think I'll be taking breaks of the high though because it corresponds to the .618 4 hr resistance level, so if in a position I'd rather wait it out and look for a different entry.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: august 21 4hr.jpg Size: 123 KB
Click to Enlarge Name: august 21 1hr.jpg Size: 131 KB
"Wishful thinking dies hard." Igor T.
  • #5,315
  • Aug 20, 2008 11:39pm Aug 20, 2008 11:39pm
Hi Bo,

Thanks so much for all your generous tuition.
Like others here, I'm starting to get a feel for flowing with fibs.
I have really taken to heart your statements about trading action from intraday fibs.
Just wondering now whether there's any place for intraweek, intramonth and intrayear fibs as extensions of the intraday measures?
Have you already mentioned this somewhere in the thread?
However, if this is off track just ignore the idea - I have just put these on my charts to have a look. Trying to stack up more confluence evidence for various support/resistance levels.
eg. most recent GU high @ 1.8684 was a bounce down from IntraWeek Support (76.4 down from IntraWeek High) @ 1.8688
By IntraWeek I am referring to fibs drawn between last weeks high and low. same for the other intra periods, ie fibs between last month's high/low and last year's high/low.
Just got me to thinking...
Your general principles on trading with fibs are priceless - thanks for the keys to the car... lol

cheers,
k.
  • #5,316
  • Aug 20, 2008 11:58pm Aug 20, 2008 11:58pm
Hi FxChi,

I am looking out for price to retrace into the "zone" between intraday long and short, then to bounce up from there if support holds in that area.
Monthly Fib 618 @ 1.8619 close to Intraday Pivot @ 1.8612 looks like a reasonable level to anticipate support (or thereabouts). Such technical levels always subject to effects of news and events etc of course... (GBP - Retail Sales out today - whatever time that is for you...)
Anyways, we'll see soon enough.
In general, when price blows through intraday levels I prefer to wait for a potential retracement to confirm S/R levels and then take a position after that.

Quoting FxChi
I'm leaning towards taking short positions tonight based on what I'm seeing with the 4 hr chart and 1 hr chart, even though we're above Intraday long levels. Just wanted your thoughts on this Bo or anyone else.

I'm seeing these long wicks on 1 hr candles so I switch to the 4 hr and see it's at conflunece of down TL and the .50 fib level (mind the blue arrows on the 4 hr chart...just levels I'm watching). If this turns around and starts breaking 1 hr lows and trendlines, I'd assume that bullish momentum is weak because the swing didn't complete it's T1 or T2 targets from the retrace this morning. I'd be targeting strong support in the 1.8540 area followed by intraday targets. An opening below Intraday short would be gravy I think, but I'll most likely take breaks of candle lows and pull a swing along to show resistance points for aditional entries.

I don't think I'll be taking breaks of the high though because it corresponds to the .618 4 hr resistance level, so if in a position I'd rather wait it out and look for a different entry.
  • #5,317
  • Aug 20, 2008 11:58pm Aug 20, 2008 11:58pm
Quoting incrediblefx
Hi,

I'm looking to start reading this thread.
Can anyone point to me besides start reading from 1st page:
- any summary to read?
- any template to install?

I'm not being lazy but this help me to get better understanding from the start.

thanks.
if you dont read from page 1 you would not understand how to trade using fibs.... read through it slowly look at all of bo's chart too.... its important....
  • #5,318
  • Aug 21, 2008 12:10am Aug 21, 2008 12:10am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Quoting katarche
Hi FxChi,

I am looking out for price to retrace into the "zone" between intraday long and short, then to bounce up from there if support holds in that area.
Monthly Fib 618 @ 1.8619 close to Intraday Pivot @ 1.8612 looks like a reasonable level to anticipate support (or thereabouts). Such technical levels always subject to effects of news and events etc of course... (GBP - Retail Sales out today - whatever time that is for you...)
Anyways, we'll see soon enough.
In general, when price blows through intraday levels I prefer to wait for a potential retracement to confirm S/R levels and then take a position after that.
I was also anticipating retail sales to either be worse than expected or expected so the short position didn't bother me. But you're right though, if it does retrace to the inner fibs and bounces from there odds are, it's going long and I'll reverse there and position long. Thanks for the reminder.

Monthly fibs - how'd you pull that one? Was it pulled just for the month of August or did you pull a swing from monthly chart?
"Wishful thinking dies hard." Igor T.
  • #5,319
  • Aug 21, 2008 12:26am Aug 21, 2008 12:26am
We are in a range...I would only consider taking the break of the high since we dont have enough space to run short also when ou take the break of the high you take the risk of getting cought in part of the entire movement of the swing since it might not be over and I might have to pull the swing high higher( thats why we have a higher risk taking the break up)...I will wait to see what happends If the break is down I wont take it, I will wait and see if support proves itself...

Also keep in mind we have tweezer bottoms in daily chart...

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 31 KB
  • #5,320
  • Aug 21, 2008 12:49am Aug 21, 2008 12:49am
Keep in mind no targetds got hit yesterday so we have no true direction for the last couple of days...also since no targets have been hit we are open for a rangy day....so guard your pips ( dont get greedy)

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 31 KB
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