Fibonacci Trading with Bobokus

my analysis of UJ

Now I simply whant price to continue to make higher high and higher closes...once I have a nice amount of profits I will begin to reduce my risk...

eurusd



and USDJPY

Your focusing to much on the swing fibb....zoom out and look at the larger waves ...the swing fibb will just navigate you thrue the larger levels with more power...they become inportant once in profit or to add to your postion if desired...

gbp/usd analysis

Your analysis is different then mind my friend...as long as it works for you its great

Currently up 85 pips on eurusd...I will now begin looking for price action near resistance levels to secure profits...
also currently up 30 in my usdjpy long as well..



usdjpy

Any of you guys taking into account the high spreads today? It looks like many pairs on IBFx are all over the place, GBPUSD is at around 13 pips spread.

It's hunting season, he he...

I have now close 90 percent of my trade 110 pips since we have comed up to a mojor resistance and activated a trailing stop on it...



I still have my usdjpy trade running

I have made my pips and have activated a target on my usdjpy trade no matter what happends on that trade I have won the night...

take care guys and good luck with the pips

Sherm, 3623 was resistance on that EU, as shown not just by price, but also the white fib line you drew. So why buy there, if the odds are against you that price would reverse when that level was hit?. I guess BO trades like this too?

up 53 pips on uj long and cad/jpy long, but who knows what will happen.

thanks

the odds are bullish in the eurusd ....the reason I did not long the gbpusd was because the odds to the moment still maintain bearish...and to the orange fibb it is simply serves as resistance nothing special its like any high or low....

Hi Bo,
This is one area that I'm still not sure about...a change in trend direction and what you call "signs of holding support". Can you please clarify with an illustration (like you have done for the setting of stops...fantastic illustration) over the next few days, if indeed the support does hold, and a reversal becomes evident? Are you talking about support holding on the intraday 1 hr chart? If so, is it better to wait out a day like this, before committing to a trade?

I made about 78 pips on long EU, did it while I was kind of asleep, thats why I just planted TP at the high, wish I had taken on GU as well, atleast finished the day with even 100 pips, but it's thanksgiving here, so I wanted to sleep in, oh well, tommorows another day, just need to wake UP!!!. Atleast I should be happy I can make pips while I am half asleep.

TheLegace.

On EU, how do you deal with gaps?...do you just draw the fib line through them as if they were'nt there?

gbp/cad analysis 4hr

My rational behind the trade was that price is bouncing of my retracement fibs, these, fibs are incredible, they have been proving support/resistance for a very long time, which is why I have them, in the 1hr chart price broke long, it was a risky move, and when I planted another swing fib it told me that price was breaking short. But I knew price was bouncing of the T1 and T2 levels, as it's doing now, this time price has broken short, but it's testing T2 levels.

I was in a short just a few moments ago, but I closed in the nick of time and just had a breakeven trade, because now it looks like T2 levels are hold support, or it's being testing, as soon as candle opens lower than the level then I will reneter the short, otherwise wait for an oppurtunity to go long as price is being rejected from the looks of it. But it's all about higher level fibs especially when the market is really ranging, the fibs need to be tight so you can make last minute moves and exit out of them appropriately. That's why Sherm was telling you to make larger timeframe fibs because when the market's like this you need them. But when market is trending there is a great chance it's going to move in that direction, but when market is rangy like it is now, its very tricky and hard.

I would show you 1h timeframe but I am a bit lazy, if you really want me to post I will, it was a straightforward trade with the exception that these retracement fibs aid in making the final decision, because when market is ranging it can give you many shorts/longs thats why its very fustrating, but thats why you need tigher higher timeframe fibs.

Good Luck.

Here are the look at some of the currencies I am looking at for tonight...If you guys mind when I show my trades since I have no intentions in cluttering...

Alright to begin with we might have a nice setup to short the audusd back to the intraday levels if we go into some what of a consolidation later on today...

Audusd



Usdjpy is on the same boat as Audusd



Gbpusd same thing as well....
this are the currencies with less indecesion as of right now...



any question I will be glad to answer

Seems like some currencies are still concluding their moves from yesterday so dont forget to keep on pulling your intraday untill price begins to show signs that the moves has concluded...

Dont lock yourself in forcing the intraday to always being between 24 hours...sometimes it can have candles in the next day or candles in the previous day. What matters is getting the entire movement

Sure, what we want to look for to identify that a reversal is underway is once we draw our Intraday is that in the previous days, the Intradays support levels kept failing and the downtrending continued. In yesterdays case after price makes an attempt to break long it begins to retrace, the thing we look for is if support holds this time or does it fail again, yesterday we saw it hold after retracing...a bounce is under way and buyers are present now where before they were not. We need to see this before we can feel comfortable about long positions.

Its looking very nice for a short coming soon...