market just looks dead all across the board
fibonacci trading log 2 replies
Need help Bobokus Fibo template 1 reply
Dislikedwent short at 660, 617 and 626
closed at 583, 581 and 607 respectively
net 132 pips, thanks Bo.Ignored
Dislikedshort @ 554 and 587, closed at 561 and 562, net 18 pips, too much work for too little gain. Think I'll watch for now.Ignored
DislikedNow the question is how would we have handled today?
1 - Obviously we have 2 intraday fibs still valid.
1a which has most precedence?
To handle this i will leave tuesday as the intraday fibs and put a swing move fib on monday??
2 - Bo comments? I dont know what i should call the monday fib now...
I do think, in terms of precedence, i'll be looking for the tuesday levels to hold to take us back long into the monday levels.
Then i'll be taking any rejection of mondays levels short.
So i know this is after the fact but here's how i would've played today...
3 - First entry long on red up arrow. Move stop to BE once it approaches the swing short level. MAybe take some profit there
After that im kinda winging it. i might have entred short on the rejection of the wing short. It doenst have much room to go, and i really dont know which fib has more precedence.
4 - Bo any guidance on what you'd have done from there?
4a - Gone short on open of candle 1?
4b - Where would your stop have been then? Way up above the long? Thats a lot of pips...
It would have worked out fine in the end but id have been tempted to take my loss at candle 2
I did go short on the break of that lovely pin on the pivot marked 3.
Just closed trade.
I should have closed soon after the double low at the same mark as mondays pin.
Thoughts on all that?
Your help is much appreciated!Ignored
DislikedNow for tomorrow.
Well the levels almost the same as today, with monday short levels and tuesdays inside bar day (to borrow a james16 term)
Now what we have is a big bearish bar on monday from a daily POV. followed by two small inside ranging bar indicating indecision. whichever way these last 2 days break then it will be a decent move. I think it'll go short, but when?
Anyway. Theres a long scalp available now back to intraday levels of wednesday and maybe back to mondays levels. We'll see.
Im goosed after a tennis tournament so im not staying up for it.
Any comments on my crap analysis or fib placement?
DislikedNow if we use the swing fib and follow along with the market as it unfolds it looks something like this...From following these procedures in the last 2 posts you detirmine your plan of action and trade what you see.
Now we know were in a ranging market that wants to continue short so we follow with the swing and look for scalps until we break from this...knowing what our higher timeframe levels are.
One more post and Im done..........Ignored
DislikedI think Bo would say it's a false break because only the wick of the candle touched/broke thru the fib level and not the body of the candle.Ignored
DislikedNot really they are going to happen, more so when the volitility is high and the pairs are ranging, using the previous 1 hour periods or candles as an exit point the loss would be minimal 10 maybe 15 pips.Ignored
Disliked\As I see it ,the candle has actually broken and closed above the long fib of the swing.Sorry ,I mean chart 1 not 2 of post 5785Ignored