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Fibonacci Trading with Bobokus

  • #6,181
  • Oct 2, 2008 1:41pm Oct 2, 2008 1:41pm
Quoting chuckpumpkin
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 ?

Well as for me,i enterd another trade with a bigger lot when i notice it has retraced to where i know it will not go pass.On the ride down later,i close all the trade with 120pips from all positions.
  • #6,182
  • Oct 2, 2008 2:05pm Oct 2, 2008 2:05pm
Entered short of GBPUSD on 10/1 @ 12:03 for 1.7767 closed out 10/2 @ 09:30 for 1.7667 for 98.5 Pips. No ban on short selling here.
  • #6,183
  • Oct 2, 2008 3:27pm Oct 2, 2008 3:27pm
Damn moves are coming too early/ late in the day depending on how you look at it...

eu and gu have just 2 hours ago bounced off thie pivots and gone south again. 100 pips between them.

usdcad looks nice though. Big up move on today wednesday, and now its starting to retrace. These are the moves i love. Hopefully it'll be in the intraday levels come Frankie open and the levels show some sign of holding, then away we go!
  • #6,184
  • Oct 2, 2008 4:40pm Oct 2, 2008 4:40pm
Quoting jicjoc
Damn moves are coming too early/ late in the day depending on how you look at it...

eu and gu have just 2 hours ago bounced off thie pivots and gone south again. 100 pips between them.

usdcad looks nice though. Big up move on today wednesday, and now its starting to retrace. These are the moves i love. Hopefully it'll be in the intraday levels come Frankie open and the levels show some sign of holding, then away we go!
Same here....I just want this to continue for about 3 more months....good volitility, the more the merrier I say. Tomorow should be fun..NFP and the bailout vote all in the same day.....ouch!
  • #6,185
  • Oct 2, 2008 6:26pm Oct 2, 2008 6:26pm
Here are some current templates if anyone needs them for GBP, Euro and the Yen. Pics are the placement on what they should look like if you download them.
If you zoom these out to a 4hr youll see 2 other tools you can use on the 4 hour waveforms, (Support and Resistance) tools
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbp1002.gif Size: 21 KB
Click to Enlarge Name: euro1002.gif Size: 21 KB
Click to Enlarge Name: yen1002.gif Size: 22 KB
Attached File(s)
File Type: tpl gbp1002.tpl   6 KB | 512 downloads
File Type: tpl euro1002.tpl   6 KB | 499 downloads
File Type: tpl yen1002.tpl   6 KB | 490 downloads
  • #6,186
  • Oct 3, 2008 2:41am Oct 3, 2008 2:41am
Dammit, missed that move on EU. now i got in too early on the swing, so im gonna hope its levels hold.

also fake out long on intraday GU. gonna try enter short there if the swing levels hold

usdcad didnt get to intraday levels yet so no entry...
  • #6,187
  • Oct 3, 2008 6:24am Oct 3, 2008 6:24am
Quoting jicjoc
Dammit, missed that move on EU. now i got in too early on the swing, so im gonna hope its levels hold.

also fake out long on intraday GU. gonna try enter short there if the swing levels hold

usdcad didnt get to intraday levels yet so no entry...
EU got me as well shorted at 3843 earlier and netted 3 pips, short again now at 3856 to try it again !
  • #6,188
  • Oct 3, 2008 6:29am Oct 3, 2008 6:29am
I was able to bank about 30 pips on a long break on EU. now I am waiting to start the weekend after news announcements.

Take care.
TheLegace.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #6,189
  • Oct 3, 2008 6:57am Oct 3, 2008 6:57am
Im going to be away most of the day today so, good luck everyone with your trading today.
  • #6,190
  • Oct 3, 2008 7:07am Oct 3, 2008 7:07am
Likewise, Bo, have a great weekend.
  • #6,191
  • Oct 3, 2008 8:29am Oct 3, 2008 8:29am
Easy 50 pips on chfjyp this morning.
Attached Image (click to enlarge)
Click to Enlarge Name: chfjpy sell2.gif Size: 16 KB
  • #6,192
  • Oct 3, 2008 8:32am Oct 3, 2008 8:32am
Attached Image (click to enlarge)
Click to Enlarge Name: chfjpy sell2.gif Size: 16 KB
  • #6,193
  • Oct 3, 2008 4:41pm Oct 3, 2008 4:41pm
Quoting TheLegace
I was able to bank about 30 pips on a long break on EU. now I am waiting to start the weekend after news announcements.

Take care.
TheLegace.
long on eu?
what was the entry there?
thanks
  • #6,194
  • Oct 3, 2008 9:35pm Oct 3, 2008 9:35pm
Hi there Bo,

What do you make of the market after Fridays price action. The GBP didn't make the Intraday T1. nor has the 4 hr. as yet.
Is this a signal that the market is turning, or at least correcting?
You probably picked a good day not to trade! Are there any warning signals that the market is about to finish its move, or is the failure to reach an Intraday T1 it?

thanks for your patience!
  • #6,195
  • Oct 4, 2008 7:11pm Oct 4, 2008 7:11pm
Quoting ihop
Hi there Bo,

What do you make of the market after Fridays price action. The GBP didn't make the Intraday T1. nor has the 4 hr. as yet.
Is this a signal that the market is turning, or at least correcting?
You probably picked a good day not to trade! Are there any warning signals that the market is about to finish its move, or is the failure to reach an Intraday T1 it?

thanks for your patience!
Im not convinced this will be a reversal of direction, the late rally went alot of pips but failed to break so were back to seeing if support holds from here, then it may try and push higher, if support fails nothing has changed. Its best viewed from the 4 hour.
Attached Image (click to enlarge)
Click to Enlarge Name: GBP4hr.jpg Size: 77 KB
  • #6,196
  • Oct 4, 2008 7:20pm Oct 4, 2008 7:20pm
Quoting Bobokus
Same here....I just want this to continue for about 3 more months....good volitility, the more the merrier I say. Tomorow should be fun..NFP and the bailout vote all in the same day.....ouch!
I see you're having fun, he he...
  • #6,197
  • Oct 5, 2008 1:14am Oct 5, 2008 1:14am
Quoting Bobokus
Im not convinced this will be a reversal of direction, the late rally went alot of pips but failed to break so were back to seeing if support holds from here, then it may try and push higher, if support fails nothing has changed. Its best viewed from the 4 hour.
Thanks Bo....
1. Can you please clarify what you classify as support on the 4 hr chart....is it the established low?

2. Could this be a tradeable bounce off of the .618% on the 4 hr chart to the downside as displayed?
  • #6,198
  • Oct 5, 2008 8:43am Oct 5, 2008 8:43am
Quoting ihop
Thanks Bo....
1. Can you please clarify what you classify as support on the 4 hr chart....is it the established low?

2. Could this be a tradeable bounce off of the .618% on the 4 hr chart to the downside as displayed?
1. The immediate support would come from measuring the movement up on the 4 hour, which is basically the same as the Intraday drawn on the 1 hour.

2.As it stands no. The problem with entering short here is it closed around 1.7708 meaning we are seeing the test of support now and if its going to bounce here I would not short it just yet.The rejection from the 61.8 on the late rally and with the support levels so close we could see some ranging before it makes a movement. Its best to wait and see right now.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpsupport.gif Size: 17 KB
Click to Enlarge Name: gbpsupport_intraday.gif Size: 23 KB
  • #6,199
  • Oct 5, 2008 2:07pm Oct 5, 2008 2:07pm
Hi!
I see no possible trades on daily charts on with pairs
  • #6,200
  • Oct 5, 2008 3:40pm Oct 5, 2008 3:40pm
Quoting makron
Hi!
I see no possible trades on daily charts on with pairs
At the moment nope, early trading has both the Euro and GBP moving lower, GBP has traded as low as 1.7598, the Euro as far down as 1.3609. By the time US brokers open we may be back closer to where they closed Friday.
Trading the Daily like in the other thread we should still be short looking for a Daily high to break as a stop and reverse point.
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