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Fibonacci Trading with Bobokus

  • #6,061
  • Sep 29, 2008 2:43am Sep 29, 2008 2:43am
Due to the fact of today this is how I would of traded intraday today...

I would have pulled my intraday down after the first move was completed and then all I would of being left of was taking the brake of the intraday low and fallow to the new targets...I know mostly trade 4 hour charts

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  • #6,062
  • Sep 29, 2008 3:09am Sep 29, 2008 3:09am
Quoting PLooB
Anyone trading this? Pretty nice fibs on this one:
Absolutely perfect on the Ab Fib Framework!

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The framework is there; we just have to work on our frame of mind.
  • #6,063
  • Sep 29, 2008 3:09am Sep 29, 2008 3:09am
Quoting Shermenator
You dont use the fibb like that....all of that was still one movement reacting to a larger swing.


Hey Sherm!!!!!!! is great seeing u back,where av you been pal?
  • #6,064
  • Sep 29, 2008 3:12am Sep 29, 2008 3:12am
Quoting Shermenator
Alright here is my chart for the day you traded....

I would of shorted when the 1 am candles low broke and would of scalp back to intraday levels...you could have either held you trade to the Intraday long or use the swing targets as excets...this is the only trade I would of taken on this night durning the time I trade...another apportunity took place after this as well...
Also keep in mind we had began braking lows in the daily chart after impactin the retracament short ...

Attachment
Thanks Shermenator. Seeing you fibs made things clearer for me. I was under the false impression that intraday fibs were exactly that, the prior day. I however, now realize that since the move up on Thurs was not retraced on Fri. it would be best the keep Thurs. in the loop, as far as intraday's go.
Mahalo
A lawn mower is not an effective tool to pick-up dog poop!
  • #6,065
  • Sep 29, 2008 3:15am Sep 29, 2008 3:15am
Quoting Shermenator
Due to the fact of today this is how I would of traded intraday today...

I would have pulled my intraday down after the first move was completed and then all I would of being left of was taking the brake of the intraday low and fallow to the new targets...I know mostly trade 4 hour charts

Attachment
So right now the price is braking, could another short take place, or is the short movement gone to far, right now it might retrace quite a bit, but it might also brake, obviously if it retraces I would have wait until the price gets rejected from a level, but if it moves up and then moves back down breaking the level, would I enter into a short?

Thanx
TheLegace.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #6,066
  • Sep 29, 2008 3:16am Sep 29, 2008 3:16am
...and a nice one I followed down on the 'purples' on the EURUSD...
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The framework is there; we just have to work on our frame of mind.
  • #6,067
  • Edited 4:44am Sep 29, 2008 4:22am | Edited 4:44am
Quoting hiswords
Hey Sherm!!!!!!! is great seeing u back,where av you been pal?
Trading my friend lol...I now mostly trade 4 hour charts and stuff and sometimes trade 1 hour charts when I see the market screaming at me to do so lol....I just donw whant to clutter the thread with my 4 hour trades and get you guys mad lol
  • #6,068
  • Sep 29, 2008 4:27am Sep 29, 2008 4:27am
Quoting TheLegace
So right now the price is braking, could another short take place, or is the short movement gone to far, right now it might retrace quite a bit, but it might also brake, obviously if it retraces I would have wait until the price gets rejected from a level, but if it moves up and then moves back down breaking the level, would I enter into a short?

Thanx
TheLegace.
you see right now I would hitt the pause button and let market show you whats going on( I have also now pulled my Intraday fibb all the way down ) ...you see a brake of the low can be taken but you already have the doubt in your head due to the 2 drops...this its not worth taken once you feel this way...also in order to trade back to the intraday levels let the market first show price is finding support and then if you still ahve room to scalp back up the do so...seems like the retracemt to the down move has found the sellers....we also began breaking larger timeframes support levels...

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  • #6,069
  • Sep 29, 2008 4:35am Sep 29, 2008 4:35am
Quoting Shermenator
you see right now I would hitt the pause button and let market show you whats going on( I have also now pulled my Intraday fibb all the way down ) ...you see a brake of the low can be taken but you already have the doubt in your head due to the 2 drops...this its not worth taken once you feel this way...also in order to trade back to the intraday levels let the market first show price is finding support and then if you still ahve room to scalp back up the do so...seems like the retracemt to the down move has found the sellers....we also began breaking larger timeframes support levels...

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Well in the long term there seem to be fairly strong support but in the 1h timeframe it seems to take a while for price to retrace so I can see why it makes sense to look at 4h time frame.

Thanx for the support. I am being very conscious because I'm trading live now, but I guess it is good.

TheLegace.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #6,070
  • Sep 29, 2008 4:48am Sep 29, 2008 4:48am
For my personal taste a buying apportunity would take place at the break of the candles high (arrow)

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  • #6,071
  • Sep 29, 2008 4:59am Sep 29, 2008 4:59am
Quoting Shermenator
For my personal taste a buying apportunity would take place at the break of the candles high (arrow)

Attachment
not that I want to ask you to restate the obvious, but since price has stopped out at extremely strong level is indication to catch a good move up early?
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #6,072
  • Sep 29, 2008 5:59am Sep 29, 2008 5:59am
Quoting Shermenator
For my personal taste a buying apportunity would take place at the break of the candles high (arrow)

Attachment
where did you get this uptrend fib from ?

can you tell me the high and low
  • #6,073
  • Sep 29, 2008 6:39am Sep 29, 2008 6:39am
absolutely confused about the long term fibs (and intraday as well). Bo could you post analysis of the day at the end of it?
  • #6,074
  • Sep 29, 2008 7:11am Sep 29, 2008 7:11am
Quoting TheLegace
not that I want to ask you to restate the obvious, but since price has stopped out at extremely strong level is indication to catch a good move up early?
It all comes down to how much of a drawback are you willing to take as how longterm of a trader are you ...this support can be valid for a 1 hour trade to get the apportunity to take a quick scalp...but If I whanted to trade this as a very long term I would not base my decesion on the 1 hour chart...I would move up timeframe to see if support is really being found...

What really bade my decesion was the long wicks at the bottom of the candle showing a slowdown in the bearish moementum.
  • #6,075
  • Sep 29, 2008 7:13am Sep 29, 2008 7:13am
Bo had some great lessons thru out the thread, best to read a good portion of the thread for great teachings.
Almost every question you have can be answered in this thread.
Yea I know its over 400 pages now, but..... the payout from it is wonderful.

Happy Pippin'
KC

Quoting jasius
absolutely confused about the long term fibs (and intraday as well). Bo could you post analysis of the day at the end of it?
  • #6,076
  • Sep 29, 2008 7:15am Sep 29, 2008 7:15am
Quoting chuckpumpkin
where did you get this uptrend fib from ?

can you tell me the high and low
Here is the pic....If that 61.8 brakes the wheels will fall of the wagon lol "BOBOKUS" lol

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  • #6,077
  • Sep 29, 2008 7:16am Sep 29, 2008 7:16am
Quoting kc8flq
Bo had some great lessons thru out the thread, best to read a good portion of the thread for great teachings.
Almost every question you have can be answered in this thread.
Yea I know its over 400 pages now, but..... the payout from it is wonderful.

Happy Pippin'
KC
Yep I completly agree...I have been in this journey since page 150 or something like that back when I was jets211990 lol...Best learning experience ever
  • #6,078
  • Sep 29, 2008 7:28am Sep 29, 2008 7:28am
I'm in NZDJPY and I saw a sudden 60pip spike. So to NZDUSD.

kindly check for me, could it be my broker doing that?

thanks.
  • #6,079
  • Sep 29, 2008 8:06am Sep 29, 2008 8:06am
Bo, while back I mentioned looking at chart with data feed errors from the interbank fx 4.0 . Is there anyway I can manually correct the data errors or should I contact interbank? It really plays havoc in my chart view with the fibs.
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  • #6,080
  • Sep 29, 2008 8:09am Sep 29, 2008 8:09am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Quoting kpt1956
Bo, while back I mentioned looking at chart with data feed errors from the interbank fx 4.0 . Is there anyway I can manually correct the data errors or should I contact interbank? It really plays havoc in my chart view with the fibs.
Find the price and time, and press F2 (history center) and delete that datapoint.
"Wishful thinking dies hard." Igor T.
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