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Fibonacci Trading with Bobokus

  • #5,401
  • Aug 25, 2008 11:16pm Aug 25, 2008 11:16pm
Quoting xscamx
hey bo what would be the best time to trade... is it a few hours before the london open??

I would trade 0500GMT-1800GMT when I was trading every day.
  • #5,402
  • Aug 25, 2008 11:20pm Aug 25, 2008 11:20pm
Quoting FxChi
Note to self: buy bottle of Zinfandel ASAP before next trade. I had to laugh when I read that earlier in the thread. I've been doing it all wrong sipping on Monster's this entire time.
LOL, it does help to tune everything out but the business at hand.. $
  • #5,403
  • Aug 25, 2008 11:51pm Aug 25, 2008 11:51pm
Frequent relationships are 25%, 38%, 50%, 61% and 75% (Fibonacci ratios)
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  • #5,404
  • Aug 26, 2008 12:03am Aug 26, 2008 12:03am
Quoting nicolebobbin
Frequent relationships are 25%, 38%, 50%, 61% and 75% (Fibonacci ratios)
Although somewhat true, Bo does not focus on the 25%/75% percent ratios...
  • #5,405
  • Aug 26, 2008 12:07am Aug 26, 2008 12:07am
whats up with the g/u today.... not retracing or not much movement
  • #5,406
  • Aug 26, 2008 12:27am Aug 26, 2008 12:27am
I am currently short looking for intraday low...

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  • #5,407
  • Aug 26, 2008 12:45am Aug 26, 2008 12:45am
dont know bout that because i like entering when it retrace....i will still be waiting for it to retrace before i enter
  • #5,408
  • Aug 26, 2008 1:08am Aug 26, 2008 1:08am
Now what I whant to see is a continuation of braking lows....
I do not whant to see an inside bar or any of such...also as long as we dont get a close above 8451 my trades in good shape...

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  • #5,409
  • Aug 26, 2008 2:04am Aug 26, 2008 2:04am
I have placed my stop loss above previous candles high due to candle formation and simply I would take a very small hit...and this move down can still be part of the swing...

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  • #5,410
  • Aug 26, 2008 2:09am Aug 26, 2008 2:09am
Price has continue to brake lows....I am looking for intraday low as my first target...I am currently up about 30 plus pips

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  • #5,411
  • Aug 26, 2008 2:10am Aug 26, 2008 2:10am
Hi guys, I've just joined. Can you please inform me the best way to get some training...I just missed your web broadcast last week....it their is any any way of getting soem info other than going through all the Threads, which i have done...then maybe let me know
  • #5,412
  • Aug 26, 2008 2:12am Aug 26, 2008 2:12am
Quoting ihop
Hi guys, I've just joined. Can you please inform me the best way to get some training...I just missed your web broadcast last week....it their is any any way of getting soem info other than going through all the Threads, which i have done...then maybe let me know

I get in tradingrooms every night...I am currently in it...We have a room called BOBOKUS and SHERMENATOR
  • #5,413
  • Aug 26, 2008 2:16am Aug 26, 2008 2:16am
Have closed 80 percent of short with 48 pips I will let the rest run...

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  • #5,414
  • Aug 26, 2008 2:40am Aug 26, 2008 2:40am
Price seems not getting enough strength to break the low,i have taking out some of my major trades,i just hope it breaks the low and we can go big time short
Sherm,do you expect a retracement?
  • #5,415
  • Edited 3:02am Aug 26, 2008 2:49am | Edited 3:02am
Quoting hiswords
Price seems not getting enough strength to break the low,i have taking out some of my major trades,i just hope it breaks the low and we can go big time short
Sherm,do you expect a retracement?

Well My remainder 20 percent of trade has been stopped out at break even ...made 48 pips with 80 percent of trade...I have now pulled my swing low to this candles low ...also be aware if we form a pin bar at the bottom as well as if price begins to brake previous candles highs ...I will not trade the retracement back to the swing levels even if we have 20 pips or such because I am not willing to risk a high probabilty trade I just made for a counter trend trade....I will call it a night for me...that market will be here tomorrow....thought if you decide to continue to trade the only thing I currently see is if price brakes the intraday low or if we get some consolidation in the swing area. I have won the battle tonight , I will resume the battle tomorrow. Goodluck guys and go get some pips.

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  • #5,416
  • Aug 26, 2008 4:25am Aug 26, 2008 4:25am
Cable breaks the swing low on 4hour,i think it might be a good idea to short it,am alredy there just want to hear anybody's view about it.
  • #5,417
  • Aug 26, 2008 4:30am Aug 26, 2008 4:30am
Quoting hiswords
Cable breaks the swing low on 4hour,i think it might be a good idea to short it,am alredy there just want to hear anybody's view about it.
The Intraday Fib T1 is too close for me at 1.8334, but if one were to look at the daily we have a possible bearish candlestick pattern...
  • #5,418
  • Aug 26, 2008 4:33am Aug 26, 2008 4:33am
Quoting hiswords
Cable breaks the swing low on 4hour,i think it might be a good idea to short it,am alredy there just want to hear anybody's view about it.
In my opinion going short in mid perspective is for sure good idea. I am not in trade but waiting for retracement near 1.8394 - 1.8406 to go short.
  • #5,419
  • Aug 26, 2008 4:45am Aug 26, 2008 4:45am
Quoting LFB
In my opinion going short in mid perspective is for sure good idea. I am not in trade but waiting for retracement near 1.8394 - 1.8406 to go short.
Yup, that would be a way to possibly enter short, but I normally like to see the action happening around the inner fib lines instead...
  • #5,420
  • Aug 26, 2008 5:50am Aug 26, 2008 5:50am
Now that I'm back ashore I'm working my way back into trading - but now I'm restricting my FX trading to a couple of hours around FO / LO and moving back to trading the Dow / S&P in the US session.

Thus I'm looking for other methodologies to help find trades and this morning a combination of the 34ema and the sweet spot at a 50 level gave me a sell which I exited on a limit at the S1 level.

Later, I grabbed some more pips after the bad German news took the Euro down hard, dragging cable with it - here, I exited in the spike down to the green MS2 line.

More relevent to this thread is to see that this move down has now stalled at the 161.8 extension of the fib from this mornings move. Price initially turned at the nice confluence of the 50% retrace and my 200ema - I've now pulled a new fib off that high and the new low and will be tempted to sell again if we get a retrace to the 38% level at 8388.
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