Nice job Sherm, it looks like Bo's method works on any pair. Do you trade all the majors Sherm?
Fibonacci Trading with Bobokus
- #5,804
- Sep 11, 2008 8:48am Sep 11, 2008 8:48am
I'm interested in more about the price trading but realize that this isn't the thread to discuss it. Maybe you could start your own thread to show some charts. After we teach ya how 
.
Happy Pippin'
KC
.Happy Pippin'
KC
Please see my last. Also, in answer to another question, I have learned, after many frustrating, painful and expensive encounters with the stop bandits not to set hard stops. Occasionally I will set trailing stops, or extreme measure stops if I'm going to be away from screen for extended times.
btw, no way am I at the level of some others here, I don't even know how to post a chart, lol.
I have managed to quadruple equity in just over a month, using Bo's system to add structure to bare naked price trading, which is all I've been taught up til now.
- #5,808
- Edited 3:01pm Sep 11, 2008 2:10pm | Edited 3:01pm
Helou everyone.
Here starts my learning and here is my first questions for Bobokus ( mainly first question ) :
Picture 1.
We can see that this intraday high on this picture is also pip by pip touch at longer term retracement fib.
1) As we see false breakout, do we take long trade and SL is below previus candle low?
Or
2) We don't take long trade because we saw rejection from longer term fib?
Picture 2.
On this picture we can see swing fib from last session.
1)Having this swing on chart it also shows long trade trigered because swing and previus intraday levels is holding price too?
2)We get false breakout, but our SL is below previus canlde low ?
Picture 3.
You move Your Swing fib at points where i have paint green lines.
Why are You not drawing swing fib on swings where is my red lines ?
What is criterias for chosing right these green swings and not other ?
Thank You for answers,
Best wishes,
Tom
Here starts my learning and here is my first questions for Bobokus ( mainly first question
) :Picture 1.
We can see that this intraday high on this picture is also pip by pip touch at longer term retracement fib.
1) As we see false breakout, do we take long trade and SL is below previus candle low?
Or
2) We don't take long trade because we saw rejection from longer term fib?
Picture 2.
On this picture we can see swing fib from last session.
1)Having this swing on chart it also shows long trade trigered because swing and previus intraday levels is holding price too?
2)We get false breakout, but our SL is below previus canlde low ?
Picture 3.
You move Your Swing fib at points where i have paint green lines.
Why are You not drawing swing fib on swings where is my red lines ?
What is criterias for chosing right these green swings and not other ?
Thank You for answers,
Best wishes,
Tom
While trading, enjoy life - be happy
- #5,812
- Sep 11, 2008 3:51pm Sep 11, 2008 3:51pm
- | Commercial User | Joined Oct 2006 | 2,560 Posts
Helou everyone.
Here starts my learning and here is my first questions for Bobokus ( mainly first question
Picture 1.
We can see that this intraday high on this picture is also pip by pip touch at longer term retracement fib.
1) As we see false breakout, do we take long trade and SL is below previus candle low?
Or
2) We don't take long trade because we saw rejection from longer term fib?
Picture 2.
On this picture we can see swing fib from last session.
1)Having this swing on chart it also shows long trade trigered because swing and previus intraday levels is holding price too?
2)We get false breakout, but our SL is below previus canlde low ?
Picture 3.
You move Your Swing fib at points where i have paint green lines.
Why are You not drawing swing fib on swings where is my red lines ?
What is criterias for chosing right these green swings and not other ?
Thank You for answers,
Best wishes,
Tom
Picture 2 is the same thing but with the Swing fib measuringthe retracement into the previous days movement, If we got the break from the Intraday long or the bounce we would want to see the swing fibs levels broken as a confindence builder in the long position..even still it turns out to be a false signal.
Picture 3 is from following the markets movement with the swing fib since weve been in a ranging pattern and the Swing can aid in scalping our way through it. Once you had the swing in the previous positions or the starting point on tuesday youmove it to each new wave that forms and if the levels are repected you look for price to go to that swings target range, the reason we didnt use all thos is thats the action from the previous swings levels being repected and once the targets from that are met you can move your swing to where the target was met back to where it started from and just continue that process until the pair moves out from the ranging pattern.
Ill post a few chart examples here and in the next post there are 2 more that will finish it and maybe these will help.
- #5,817
- Sep 11, 2008 6:17pm Sep 11, 2008 6:17pm
You still base your decisions from the Intraday, if we get the long bounce in a downtrending market you have the established resistance levels above price and you need to be aware of those since they will be in the path to the Intraday targets, A break of the Intraday levels short and nothing has changed, the downtrending continues.
Your responses are indeed priceless!
Regards Chris
