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Fibonacci Trading with Bobokus

  • #6,201
  • Oct 5, 2008 4:23pm Oct 5, 2008 4:23pm
Quoting Bobokus
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
HI Bobokus,My user name before was hcreb and now is boyeros.Since I told to you my trades have been positives at the end of the week ,but market still hard for me .Thank you ,for the thread ,your sistem work perfect and your skill as a teacher are great.
  • #6,202
  • Oct 5, 2008 4:30pm Oct 5, 2008 4:30pm
Quoting Bobokus
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
bobokus could you let me know how to place [supportand resistance]fibonacci.
  • #6,203
  • Oct 5, 2008 4:45pm Oct 5, 2008 4:45pm
Quoting boyeros
bobokus could you let me know how to place [supportand resistance]fibonacci.
Any fib tool drawn on movement that is going up is a support fib, one drawn on movement that is going down is a resistance fib.
  • #6,204
  • Oct 5, 2008 5:20pm Oct 5, 2008 5:20pm
Quoting Bobokus
Any fib tool drawn on movement that is going up is a support fib, one drawn on movement that is going down is a resistance fib.
BOBOKUS ,I PLACE IN A DAIRY CHART UP TREND , DOWN TREND AND RETRACEMENT.IN A HOUR INTRADAY AND SWING .DO I NEED MORE FIBONACCI ?
  • #6,205
  • Oct 5, 2008 5:34pm Oct 5, 2008 5:34pm
Quoting boyeros
BOBOKUS ,I PLACE IN A DAIRY CHART UP TREND , DOWN TREND AND RETRACEMENT.IN A HOUR INTRADAY AND SWING .DO I NEED MORE FIBONACCI ?
bobokus if market pass intraday (high,low)BUT PRICE CLOSE INSIDE THE FIBONACCI .SHOULD I PULL IT OR WAIT FOR THE TARGET
  • #6,206
  • Oct 5, 2008 5:41pm Oct 5, 2008 5:41pm
Quoting boyeros
BOBOKUS ,I PLACE IN A DAIRY CHART UP TREND , DOWN TREND AND RETRACEMENT.IN A HOUR INTRADAY AND SWING .DO I NEED MORE FIBONACCI ?
No, that should be sufficient for your Daily chart and your 1 hour charts, the only time you would want to use anything more than that is if you get moves that would not normally fit into an Intraday/Swing scheme, an example is sometimes you may want to look at 4 hour movements that span several days and just want to see where the support or resistance levels to those moves are.
  • #6,207
  • Oct 5, 2008 5:51pm Oct 5, 2008 5:51pm
Quoting boyeros
bobokus if market pass intraday (high,low)BUT PRICE CLOSE INSIDE THE FIBONACCI .SHOULD I PULL IT OR WAIT FOR THE TARGET
We'll for that there is no correct answer or simple rule to follow because the reasons it breaks a high or low and then returns back inside of them can vary so widely, trending conditons, ranging conditions, news spikes, or just simply reversal of direction from a change in sentiment, it could also be from price reacting to higher timeframe levels there are just so many variables that nothing but experience and knowing the pair your trading can really help in trading conditions.
To answer the question of when to move an Intraday you can use a simple rule of as long as its levels remain to be respected its still good until either its target range is met or the next days Intraday points have been established.
  • #6,208
  • Oct 5, 2008 5:59pm Oct 5, 2008 5:59pm
Quoting Bobokus
No, that should be sufficient for your Daily chart and your 1 hour charts, the only time you would want to use anything more than that is if you get moves that would not normally fit into an Intraday/Swing scheme, an example is sometimes you may want to look at 4 hour movements that span several days and just want to see where the support or resistance levels to those moves are.
I am sorry for bother you, here another question ,after follow you for 6 moth today is me first day making question .If market pass intraday (high ,low)but price close inside the (high ,low) .Should i pull it or wait for the target
  • #6,209
  • Oct 5, 2008 6:02pm Oct 5, 2008 6:02pm
Quoting boyeros
I am sorry for bother you, here another question ,after follow you for 6 moth today is me first day making question .If market pass intraday (high ,low)but price close inside the (high ,low) .Should i pull it or wait for the target
iam sorry for ask you the same quetion 2 time
  • #6,210
  • Oct 5, 2008 7:49pm Oct 5, 2008 7:49pm
There was quite a bit of premarket movement. Unfortunately I haven't gotten MT4 running on my PC to show the pictures. The price on GU broke past my short levels, but didnt make it to any other level. It's testing the Intraday short levels, if it fails to break, then theres a possible short. But Since market is moving really slow I guess I may wait until to atleast 12:00 EST midnight, depending on how market moves. I am probably going to wait atleast 3 more bars before making a move.

Cheers.
TheLegace.

PS. I have a huge calculus test today, therefore I don't have time to setup MT4, I hope I can even trade today.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #6,211
  • Oct 5, 2008 7:59pm Oct 5, 2008 7:59pm
Quoting TheLegace
There was quite a bit of premarket movement. Unfortunately I haven't gotten MT4 running on my PC to show the pictures. The price on GU broke past my short levels, but didnt make it to any other level. It's testing the Intraday short levels, if it fails to break, then theres a possible short. But Since market is moving really slow I guess I may wait until to atleast 12:00 EST midnight, depending on how market moves. I am probably going to wait atleast 3 more bars before making a move.

Cheers.
TheLegace.

PS. I have a huge calculus test today, therefore I don't have time to setup MT4, I hope I can even trade today.
Just dont make a rash decision.If you have to skip a day, skip it. The market isnt going anywhere.
  • #6,212
  • Oct 5, 2008 10:31pm Oct 5, 2008 10:31pm
Took a short on GU, just a quick trade, up about 43 pips, hopefully can close about 80-90 pips. I think it may make it to low of 7554.

I'm going to be up all night, so I am going to take this oppurtunity trade, as I get closer to closer to morning, the more im gonna stress. After closing this trade I think I will probably be done for day.

Good Luck everyone.
TheLegace.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #6,213
  • Oct 6, 2008 1:11pm Oct 6, 2008 1:11pm
I'm having a hard time with these fibs! is anyone buying UJ here?..I hate to ask for confirmation, but I didnt do well last week AT ALL. Any advice on this trade is welcome. thanks
Attached Image (click to enlarge)
Click to Enlarge Name: ujfib.JPG Size: 195 KB
  • #6,214
  • Oct 6, 2008 1:22pm Oct 6, 2008 1:22pm
Guys! Look at chart AUD/USD! Its increadible! Fall down over 730 pips!
Attached Image (click to enlarge)
Click to Enlarge Name: aud 06.10.08 daily.gif Size: 23 KB
  • #6,215
  • Oct 6, 2008 2:20pm Oct 6, 2008 2:20pm
The AUD is another perfect example of how consisten the Absolute Fibonacci Framework is, and how easy it makes it to figure out trades. Capisce?
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD 382 6 10 08 2114.jpg Size: 448 KB
The framework is there; we just have to work on our frame of mind.
  • #6,216
  • Oct 6, 2008 2:40pm Oct 6, 2008 2:40pm
Quoting big_pipin
I'm having a hard time with these fibs! is anyone buying UJ here?..I hate to ask for confirmation, but I didnt do well last week AT ALL. Any advice on this trade is welcome. thanks
I wouldn't, That would be buying into weakness, the best trade for the Yen is to let it rally up and sell it when it fails at resistance levels again. As long as the US markets continue to fall so should the Yen. I would only buy after we have seen support levels holding after it makes a rally, you want it to prove to you that it has the potential to go up.
Are you trading real money or Demo?
  • #6,217
  • Oct 6, 2008 2:44pm Oct 6, 2008 2:44pm
Quoting makron
Guys! Look at chart AUD/USD! Its increadible! Fall down over 730 pips!
LOL, were seeing panic in the marlets.
  • #6,218
  • Oct 6, 2008 4:17pm Oct 6, 2008 4:17pm
Quoting Bobokus
LOL, were seeing panic in the marlets.
I am still wondering who should be panicing, US markets or foreign markets, becuse US dollar is taking back a lot of ground insanely faster than it lost in previous months, it's unbeleivable.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #6,219
  • Oct 6, 2008 4:30pm Oct 6, 2008 4:30pm
BO, I'm trading real money.
  • #6,220
  • Oct 6, 2008 4:36pm Oct 6, 2008 4:36pm
Quoting niceguy777
The AUD is another perfect example of how consisten the Absolute Fibonacci Framework is, and how easy it makes it to figure out trades. Capisce?
Make your own thread bud lol....please dont cluttter with another system
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