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Fibonacci Trading with Bobokus

  • #5,561
  • Aug 30, 2008 7:57pm Aug 30, 2008 7:57pm
Quoting speedarad
Bo, I study this thread because is fascinating!I never encounter a daily strategie generating with so many possibilities to enter the mkt in a single session.And of course and I don't have to tell you about profits!
Anyway this is a Q from an early post#86 from oct.2007.
In that particular case you played long and short in the same session.
Is this happened because for that day ,bias was neutral and the mkt was in range at that time?

Thank you for your time
Chris
Looking at my chart, the long was just a scalp, but I would have been looking more for the shorts since the price action was showing stair stepping down waves. That day looks as if I would have gotten in about 4 trades.
  • #5,562
  • Aug 31, 2008 9:22am Aug 31, 2008 9:22am
hi bo
i have a Q and it is : do u look for Divergence in your system?
  • #5,563
  • Aug 31, 2008 10:05am Aug 31, 2008 10:05am
Quoting xx13x13
hi bo
i have a Q and it is : do u look for Divergence in your system?
No, I dont, the levels either hold or they dont.
  • #5,564
  • Aug 31, 2008 8:41pm Aug 31, 2008 8:41pm
hey shermenator could you post your charts.... i would like to see wherthere my intraday levels are correct.... and bo after a downfall of such like today what is expected from the rest of the day....
  • #5,565
  • Aug 31, 2008 9:00pm Aug 31, 2008 9:00pm
Thanks Bobokus for a great strategy. I have been trading this for the last few months and last month I bagged 2204 pips on 5 different pairs.

Thanks for the system.

I normally do not trade the Sunday night open so I am curious as to what the huge gap on most pairs originated from.... just curious on your thoughts.

Thanks again....you turned my trading around.

Mike G
  • #5,566
  • Aug 31, 2008 9:23pm Aug 31, 2008 9:23pm
Quoting xscamx
hey shermenator could you post your charts.... i would like to see wherthere my intraday levels are correct.... and bo after a downfall of such like today what is expected from the rest of the day....
Just waiting to see how much retracement there is going to be after this.
  • #5,567
  • Aug 31, 2008 9:33pm Aug 31, 2008 9:33pm
Quoting Matrixxdg
Thanks Bobokus for a great strategy. I have been trading this for the last few months and last month I bagged 2204 pips on 5 different pairs.

Thanks for the system.

I normally do not trade the Sunday night open so I am curious as to what the huge gap on most pairs originated from.... just curious on your thoughts.

Thanks again....you turned my trading around.

Mike G
There really isnt a gap, there is pre-open trading that goes on. Started around 3PM eastern time, the US brokers are just opening 2 - 3 hours after the market begins to move.
Here is the pre-open trading, and yes the fibs are upside down but their extentions only go in one direction.
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  • #5,568
  • Aug 31, 2008 9:47pm Aug 31, 2008 9:47pm
Quoting Bobokus
There really isnt a gap, there is pre-open trading that goes on. Started around 3PM eastern time, the US brokers are just opening 2 - 3 hours after the market begins to move.
Here is the pre-open trading, and yes the fibs are upside down but their extentions only go in one direction.
Did you catch that ride down Bo?...
  • #5,569
  • Aug 31, 2008 10:03pm Aug 31, 2008 10:03pm
Quoting Aad
Did you catch that ride down Bo?...
No, I didnt its too early for my taste.
  • #5,570
  • Aug 31, 2008 10:19pm Aug 31, 2008 10:19pm
hey bo, from where do you suggest we pull the swing from....do i pull it from 1.8235,1.8151 or 1.8129
  • #5,571
  • Aug 31, 2008 11:15pm Aug 31, 2008 11:15pm
Quoting xscamx
hey shermenator could you post your charts.... i would like to see wherthere my intraday levels are correct.... and bo after a downfall of such like today what is expected from the rest of the day....

Here bud...I have a buy stop sitting at 1.8071...to me at that point it will be telling that a retracement should take place back to the intraday levels..It would be treated like a scalp and you would whant to see your swing fibb hold on the way back up..

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  • #5,572
  • Aug 31, 2008 11:21pm Aug 31, 2008 11:21pm
thanks shermenator...i will take note about the buy stop.....
  • #5,573
  • Aug 31, 2008 11:55pm Aug 31, 2008 11:55pm
Quoting Shermenator
Here bud...I have a buy stop sitting at 1.8071...to me at that point it will be telling that a retracement should take place back to the intraday levels..It would be treated like a scalp and you would whant to see your swing fibb hold on the way back up..

Attachment
was it hit....
  • #5,574
  • Sep 1, 2008 1:01am Sep 1, 2008 1:01am
Quoting xscamx
was it hit....
Nope I have a buy stop as well as a sell stop....

I have moved my buy stop up again above this candles high it almost pulled me in...

Buy stop sitting at 8071
Sell stop is below my intraday low at 7998

Attached Image (click to enlarge)
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  • #5,575
  • Sep 1, 2008 4:06am Sep 1, 2008 4:06am
My stop almost got popped on this brake of the Intraday Low....

Its at 9798 as well as my stop and reverse....If price closes above the Intraday short I will pull it to that candles low....


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  • #5,576
  • Sep 1, 2008 4:18am Sep 1, 2008 4:18am
Hi Bobokus,

Thank you for sharing your approach to trading Fibs. with us. The information presented here and the input from participants in this forum is priceless. Keep up the great work guys!

fxpilot
  • #5,577
  • Sep 1, 2008 8:56am Sep 1, 2008 8:56am
Sherm,are you in any trade right now?
  • #5,578
  • Sep 1, 2008 5:16pm Sep 1, 2008 5:16pm
Bobokus -

Although I have never commented before, I have been reading and learning from your comments and insight since April. Thank you for your analysis.

Where are you placing your high fib for today? Right now I have 2 possibilities. Today's actual high - 1.8127. And Friday - 1.8235.

What are your thoughts? Thank you.
  • #5,579
  • Sep 1, 2008 6:54pm Sep 1, 2008 6:54pm
Quoting gadawg
Bobokus -

Although I have never commented before, I have been reading and learning from your comments and insight since April. Thank you for your analysis.

Where are you placing your high fib for today? Right now I have 2 possibilities. Today's actual high - 1.8127. And Friday - 1.8235.

What are your thoughts? Thank you.
Its a good thing you did comment since you bring up a good question, The high to use would be the high of this consolidation period weve had today, the reasoning is that the early trading this week made it appear there was a gap and the high that we see on Sunday/Monday is merely a midway point in the move down before we went ranging today, Ive placed a template here if anyone needs it.
As long as it continues to be rejected from the resistance levels we continue to sell it with them.
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  • #5,580
  • Sep 1, 2008 7:58pm Sep 1, 2008 7:58pm
Quoting Bobokus
Its a good thing you did comment since you bring up a good question, The high to use would be the high of this consolidation period weve had today, the reasoning is that the early trading this week made it appear there was a gap and the high that we see on Sunday/Monday is merely a midway point in the move down before we went ranging today, Ive placed a template here if anyone needs it.
As long as it continues to be rejected from the resistance levels we continue to sell it with them.
Boy was it a weird trading day with the GU for me, Bo what broker do you use to see those early weekly trading moves and would you normally even trade on a day like today?

Anyways I had the trend direction correct (sell stop @ 1.7995) but my timing was wrong, price reversed to around 1.8058 before heading further down, so I took a loss.LOL!...
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