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  • #5,701
  • Sep 7, 2008 9:06pm Sep 7, 2008 9:06pm
Bo, I know you've said in the past that you use I believe Saxo Bank to fill in the price gaps from the transition of Friday to the start of Sunday. How should we set the fibs during price gaps if we don't have access to fill in the b lanks. Should we maintain continuity or shoot the gap so to speak. Thanks a million for your insights to all of my past comments. It goes without saying that you've inspired all of us traders to stay the course .
  • #5,702
  • Sep 7, 2008 9:22pm Sep 7, 2008 9:22pm
Quoting kpt1956
Bo, I know you've said in the past that you use I believe Saxo Bank to fill in the price gaps from the transition of Friday to the start of Sunday. How should we set the fibs during price gaps if we don't have access to fill in the b lanks. Should we maintain continuity or shoot the gap so to speak. Thanks a million for your insights to all of my past comments. It goes without saying that you've inspired all of us traders to stay the course .
Really the only time it will make a difference is if there is a high or low established during those off hours that can change the levels to your fibs. In this weekends case it doesnt really matter just continue to apply the tools normally.With both Cable and the Euro weve already had a bounce occur and looking for the next retracement alot can be established once that happens.
  • #5,703
  • Sep 8, 2008 12:58am Sep 8, 2008 12:58am
Bob,
U need to help me out here,i don't think i should stay wrong.I have a short order on cable since last week.The gap has moved the trend against my trade.Please advice me,should i still stay or opt out as i can see that cable seems retracing presently.
Thanks.
  • #5,704
  • Sep 8, 2008 2:02am Sep 8, 2008 2:02am
just my novic opinion, but looking from the dailys, cable is due for a sharp bounce.
  • #5,705
  • Sep 8, 2008 3:18am Sep 8, 2008 3:18am
hello guys.... i went short in the eur/usd at 1.4407....currently 123 pips... i want thank bo for giving me knowledge
  • #5,706
  • Sep 8, 2008 3:33am Sep 8, 2008 3:33am
Quoting xscamx
hello guys.... i went short in the eur/usd at 1.4407....currently 123 pips...
Might want to start keeping tabs on it now that it's close to filling the Sunday gap.
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #5,707
  • Sep 8, 2008 4:22am Sep 8, 2008 4:22am
Cable and EUR have closed the Sunday gaps and reached support from last week so any recently entered short term shorts should be tightened up for profit.
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #5,708
  • Sep 8, 2008 5:09am Sep 8, 2008 5:09am
Quoting hiswords
Bob,
U need to help me out here,i don't think i should stay wrong.I have a short order on cable since last week.The gap has moved the trend against my trade.Please advice me,should i still stay or opt out as i can see that cable seems retracing presently.
Thanks.
You should be ok since it never made it to the 1.8015 level and has since broken support levels once again. The next rally may be successful but this one has failed.
  • #5,709
  • Sep 8, 2008 5:11am Sep 8, 2008 5:11am
Quoting big_pipin
just my novic opinion, but looking from the dailys, cable is due for a sharp bounce.
Yes we did get a nice bounce early this week in a light market but things are coming back to reality again now. Now we wait for the next one and another selling opportunity.
  • #5,710
  • Sep 8, 2008 5:12am Sep 8, 2008 5:12am
Quoting xscamx
hello guys.... i went short in the eur/usd at 1.4407....currently 123 pips... i want thank bo for giving me knowledge

Thats a nice way to start off the week isnt it.
  • #5,711
  • Sep 8, 2008 6:39am Sep 8, 2008 6:39am
manage to close the short at 200pips... thanks again bo
  • #5,712
  • Sep 8, 2008 6:44am Sep 8, 2008 6:44am
hHi xscamx,
could You please post a chart with this short EU.

Did You shorted at 62 retracement from previus thursday/friday High Low fib?

Thank You.

Best wishes,
Tom

Quoting xscamx
hello guys.... i went short in the eur/usd at 1.4407....currently 123 pips... i want thank bo for giving me knowledge
  • #5,713
  • Sep 8, 2008 6:51am Sep 8, 2008 6:51am
hey bo.... could you guide me a little more..... today i took the short from a 4h fibs without looking the intraday fibs... well they were not even on the chart...so if i were to trade using the 4h chart would the intraday levels be necessary.... i currently use trend lines to tell be to buy or sell... pls bo tell me would the intraday levels be needed to traded on the 4h chart...
  • #5,714
  • Sep 8, 2008 6:52am Sep 8, 2008 6:52am
short @ 7869 close @ 7640 net 229 pips
  • #5,715
  • Sep 8, 2008 7:06am Sep 8, 2008 7:06am
i went short as it bounce off the downtrend short the red fib on the chart
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  • #5,716
  • Sep 8, 2008 8:11am Sep 8, 2008 8:11am
Quoting xscamx
hey bo.... could you guide me a little more..... today i took the short from a 4h fibs without looking the intraday fibs... well they were not even on the chart...so if i were to trade using the 4h chart would the intraday levels be necessary.... i currently use trend lines to tell be to buy or sell... pls bo tell me would the intraday levels be needed to traded on the 4h chart...
No, the Intraday would not be necessary since your going to trade the higher timeframe, all you need is the Daily and Weekly levels, then trade with just a support and a resistance fib on the 4 hour waveforms that develope.
  • #5,717
  • Sep 8, 2008 8:13am Sep 8, 2008 8:13am
Quoting prov1813
short @ 7869 close @ 7640 net 229 pips
Rolling right along with the flow eh?
  • #5,718
  • Sep 8, 2008 8:49am Sep 8, 2008 8:49am
buy stop above the doji highs and recent consolidation, for a scalp back up to the Intraday fib
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  • #5,719
  • Sep 8, 2008 10:28am Sep 8, 2008 10:28am
Well i didn't take any trades this morning, market is in a small range and no clear direction yet on the E/U and G/U. London session is almost over so it's not going to move much now anyway.
Islandtrader are you still hanging on to that buy order?
  • #5,720
  • Sep 8, 2008 10:59am Sep 8, 2008 10:59am
Quoting greywolf238
Well i didn't take any trades this morning, market is in a small range and no clear direction yet on the E/U and G/U. London session is almost over so it's not going to move much now anyway.
Islandtrader are you still hanging on to that buy order?
I moved the gbp/usd buy stop down to high of last candle (before the drop) but luckily it didn't get triggered... thought about entering opposite order, but already to late in the day.
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