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Fibonacci Trading with Bobokus

  • #6,161
  • Oct 1, 2008 8:54pm Oct 1, 2008 8:54pm
Quoting prov1813
Bo, are you leaving gu intraday high at tuesday's high or moving it to today ?

Just todays movement, its going to give you the most zoomed in look into its next move. Same with the Euro.
  • #6,162
  • Oct 1, 2008 10:06pm Oct 1, 2008 10:06pm
Quoting kpt1956
Bo, This would be the better and safer call. right
You could had shorted back to the intraday levels on this day as well...
  • #6,163
  • Oct 1, 2008 10:09pm Oct 1, 2008 10:09pm
I am currently long in the nzdusd 4 hour trade...

Attached Image (click to enlarge)
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  • #6,164
  • Oct 2, 2008 3:16am Oct 2, 2008 3:16am
I just took out a trade on cable that gets to intraday low.Looks to me like a scalp,i went long immediately too,and i made some pips too.Kind of waiting for the next ride.
  • #6,165
  • Oct 2, 2008 5:33am Oct 2, 2008 5:33am
Took a 40pip scalp. Good Luck, waiting for market to test LONG TERM LOWS.

Cheers.
TheLegace.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #6,166
  • Oct 2, 2008 6:31am Oct 2, 2008 6:31am
This is my other 4 hour trade I am currently in...

Attached Image (click to enlarge)
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  • #6,167
  • Oct 2, 2008 6:40am Oct 2, 2008 6:40am
I went short on the break of the intraday low on cable,anyone with me?
  • #6,168
  • Oct 2, 2008 6:41am Oct 2, 2008 6:41am
Quoting hiswords
I went short on the break of the intraday low on cable,anyone with me?

i am
  • #6,169
  • Oct 2, 2008 6:53am Oct 2, 2008 6:53am
This is one of my other 4 hour chart trades I am in as well...

Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.gif Size: 20 KB
  • #6,170
  • Oct 2, 2008 6:58am Oct 2, 2008 6:58am
I always enter another trade once market retrace when i see it breaking such levels.
  • #6,171
  • Oct 2, 2008 7:11am Oct 2, 2008 7:11am
Quoting Shermenator
This is one of my other 4 hour chart trades I am in as well...

Attachment
Thanks for that.
Where was your entry? What was it based on?
Some one of the 4hr pins around the inner levels marked by a down arrow on my chart? My feed is slightly different time to you...
Where was your initial SL?

Looks like an untradeable mess to me

I like the look of the higer TF's but i cant seem to get a good consistent entry SL method up and running...
I dont know if id have the patience to hold onto a trade for a few days either...

Thanks
Attached Image (click to enlarge)
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  • #6,172
  • Oct 2, 2008 7:14am Oct 2, 2008 7:14am
Quoting hiswords
I went short on the break of the intraday low on cable,anyone with me?
In my expierence this has been a very unreliable entry. I wouldnt touch it. Big SL, small Profit.
Often an immediate retrace as we are currently seeing...
  • #6,173
  • Edited 8:18am Oct 2, 2008 7:32am | Edited 8:18am
Bob,
I want to believe the short i took on cable is o.k


Anyway i would'nt need to hear weither it's right now or wrong as i have taking out all my trades in all currency pairs with a profit in the green.Done for the day!!!!!!!
Good nit everyone
Happy pipping
  • #6,174
  • Oct 2, 2008 7:50am Oct 2, 2008 7:50am
I went short when EU broke retracement low and got 60 pips. Excellent!
  • #6,175
  • Oct 2, 2008 7:56am Oct 2, 2008 7:56am
what just happened?
gu dropped 80 pips in a few minutes...

The trades are good trades, but just risky for the rewards possible...
  • #6,176
  • Oct 2, 2008 8:20am Oct 2, 2008 8:20am
Quoting chuckpumpkin
i am
Chuckpumping,are u out already?
Nice trade there.............lol
  • #6,177
  • Oct 2, 2008 8:23am Oct 2, 2008 8:23am
Quoting jicjoc
what just happened?
gu dropped 80 pips in a few minutes...

The trades are good trades, but just risky for the rewards possible...
Thanks Jijoc,av taking out all the trades with a lot of profit,though risky but am out.
  • #6,178
  • Oct 2, 2008 11:18am Oct 2, 2008 11:18am
Quoting hiswords
Chuckpumping,are u out already?
Nice trade there.............lol
i was thinking it would reverse on me but at the same time it was testing a resistance so ive let the half of my position open and closed half in losses. so i did not loose anything and did not win anything...
what about you ?
did you close at intraday T1 ?
  • #6,179
  • Oct 2, 2008 12:59pm Oct 2, 2008 12:59pm
Bob.

When a move is strong and does not retrace to the intraday fib levels ,do you usually trade the break of the low or high ? If yes, how do you trade it ?
Do you use stop orders ,if yes how many pips above or below the high or low?
As I have experienced ,if the order is too close to the low or high a whipsaw can trigger the trade and move against me.
  • #6,180
  • Oct 2, 2008 1:41pm Oct 2, 2008 1:41pm
Quoting alex12
Bob.

When a move is strong and does not retrace to the intraday fib levels ,do you usually trade the break of the low or high ? If yes, how do you trade it ?
Do you use stop orders ,if yes how many pips above or below the high or low?
As I have experienced ,if the order is too close to the low or high a whipsaw can trigger the trade and move against me.
I do, but it is a risky move because we see alot of the previous day continueing into the next making a slightly higher high or low then it retraces. The danger is if the market reverses direction on you if you plan to hold it, its best to follow the previous periods high and lows as an exit point in the event it does retrace on you, it will get you out at a minimal loss and you can reset for the next opportunity. When i enter off a high or low break I use the amount of the spread + or - a few pips, because you want to make sure that it does make a new high or low price, people often forget to add the distance of the spread.
Sometimes the best move is to take a small loss to prevent a larger loss, even if the direction is correct, you just dont want to take the chance of getting caught in it reversing direction on you, the opportunity to recover your loss will come around.
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