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Fibonacci Trading with Bobokus

  • #5,361
  • Aug 24, 2008 12:41pm Aug 24, 2008 12:41pm
Got it! Thanks Bo!!
  • #5,362
  • Aug 24, 2008 9:01pm Aug 24, 2008 9:01pm
wow g/u moved this early.... and then its a holiday for the uk..... hey bo in stituations like this what would be expected...
  • #5,363
  • Aug 24, 2008 9:26pm Aug 24, 2008 9:26pm
Quoting xscamx
wow g/u moved this early.... and then its a holiday for the uk..... hey bo in stituations like this what would be expected...

Nothing different, as long as they keep selling it we keep selling it ...In a downtrend sell the rally's. Just when you think it coudlnt possibly go down any farther it drops another 200 pips.The possibilty for reversal isnt present until we see support hold at some point and waveforms that retrace more than 61.8% on themselves, only scalps on long positions back to resistance points until support has proven itself to hold.
  • #5,364
  • Aug 24, 2008 9:29pm Aug 24, 2008 9:29pm
thankx bo..
  • #5,365
  • Aug 24, 2008 9:33pm Aug 24, 2008 9:33pm
Quoting xscamx
thankx bo..

NP, dont trade what you think emotionally trade from what you see. It either breaks S&R levels or they hold, the price action at these levels are what your waiting for. Right now dont do anything wait for it to attempt to retrace...sell it if it fails at a resistance level, buy it on a scalp if it breaks resistance.
  • #5,366
  • Aug 24, 2008 9:59pm Aug 24, 2008 9:59pm
New intraday low is 8414 ? and high is 8765 ? just checking.
  • #5,367
  • Aug 24, 2008 10:07pm Aug 24, 2008 10:07pm
Quoting prov1813
New intraday low is 8414 ? and high is 8765 ? just checking.
This is one of those times that really stretches the limits, your correct in your placement but the conditions have set up odd, switch your chart to a 4hour and look at the last movement down ..its been one continuos move when viewed from a larger timeframe and I personally would use that(high of Thursday...Low we just printed )...If a new low developes continue to pull your low with it, we have already developed our Intraday into a larger timeframe fib anyways until tomorrow is completed, we will most likely get a better Intraday from what developes today and through the US session.
  • #5,368
  • Aug 24, 2008 10:15pm Aug 24, 2008 10:15pm
Got it, thanks.
  • #5,369
  • Aug 25, 2008 12:19am Aug 25, 2008 12:19am
Price has moved early today but we might get an attempt at playing the retracement today...In my first picture you see the 4 hour perspective and we have reached our 4 hour counter fibb swing

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 27 KB


Second picture shows how my intraday and how we have enough space to trade baqck to the intraday levels tonight....

here is my 1 hour perspective

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd1.gif Size: 24 KB
  • #5,370
  • Aug 25, 2008 1:21am Aug 25, 2008 1:21am
Their is no true volume or direction right now...I have removed my buy stop...I will call it a night, the markets will be here tomorrow.
  • #5,371
  • Aug 25, 2008 1:47am Aug 25, 2008 1:47am
Quoting Shermenator
Their is no true volume or direction right now...I have removed my buy stop...I will call it a night, the markets will be here tomorrow.
Smart move...
  • #5,372
  • Aug 25, 2008 4:09am Aug 25, 2008 4:09am
Quoting Bobokus
This is one of those times that really stretches the limits, your correct in your placement but the conditions have set up odd, switch your chart to a 4hour and look at the last movement down ..its been one continuos move when viewed from a larger timeframe and I personally would use that(high of Thursday...Low we just printed )...If a new low developes continue to pull your low with it, we have already developed our Intraday into a larger timeframe fib anyways until tomorrow is completed, we will most likely get a better Intraday from what developes today and through the US session.
Bobokus, can you show a chart showing how your intraday fibs were set up for the beginning of the week and the adjustments you have made in response to today's price action? Also, give an example of where you would look to place a swing fib.
  • #5,373
  • Aug 25, 2008 4:25am Aug 25, 2008 4:25am
Price has now broken the last swing long of resistance of light blue fibb I can take a long but I am playing it a bitt cautios since I whant to see suport prove itself and because london has a holiday....If price comes back down a bitt and finds support at red swing fibb I would consider taking a scalp back long to the Intraday low...though if price closes above intraday low then I would remove all the extra swing fibbs and pull my intraday low to todays low...

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd1.gif Size: 29 KB
  • #5,374
  • Aug 25, 2008 6:16am Aug 25, 2008 6:16am
Quoting southernmind
Bobokus, can you show a chart showing how your intraday fibs were set up for the beginning of the week and the adjustments you have made in response to today's price action? Also, give an example of where you would look to place a swing fib.

Sure, The Intraday has basically evolved into a 4 hour fib since price has continued to fall without any successful or noteable retracement until today. The swing is now the retracement that is underway.
The swing will become the new Intraday after todays action.
Attached Image (click to enlarge)
Click to Enlarge Name: intra_swinga.gif Size: 23 KB
  • #5,375
  • Aug 25, 2008 6:22am Aug 25, 2008 6:22am
Hello Bobokus. Long time no talk. Hows the great trader doing?
  • #5,376
  • Aug 25, 2008 6:39am Aug 25, 2008 6:39am
Quoting belekas
Hello Bobokus. Long time no talk. Hows the great trader doing?
Hi, everythings about the same..good days and bad days just trying to make the best out of em.
  • #5,377
  • Aug 25, 2008 6:43am Aug 25, 2008 6:43am
Quoting Bobokus
Hi, everythings about the same..good days and bad days just trying to make the best out of em.
Hi, glad to hear buddy. Keep up the good work Bo!
  • #5,378
  • Aug 25, 2008 7:06am Aug 25, 2008 7:06am
You watching Oil while trading Bo?
  • #5,379
  • Aug 25, 2008 7:18am Aug 25, 2008 7:18am
Quoting belekas
You watching Oil while trading Bo?

Yes, I keep a chart of it, to use as a dollar strength gauge.
  • #5,380
  • Aug 25, 2008 7:28am Aug 25, 2008 7:28am
Quoting Bobokus
Yes, I keep a chart of it, to use as a dollar strength gauge.
Yes, nice. Me too bro. There was a hard bounce of the dayly ltl for around 600 points, now im waiting to see if we get a retracement before another push down, or we dive without one.
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