Fibonacci Trading with Bobokus | Page 324 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

What is the Differences between Fibonacci Fan and Fibonacci Arcs 15 replies

fibonacci trading log 2 replies

Need help Bobokus Fibo template 1 reply

Pulos Bill - The Truth About Fibonacci Trading (Attached) 4 replies

Attachments: Fibonacci Trading with Bobokus
Exit Attachments

Fibonacci Trading with Bobokus

  • #6,461
  • Oct 19, 2008 5:55pm Oct 19, 2008 5:55pm
Quoting lmturek11
Am I right in thinking that for usdchf the intraday fib should be left on the hi and lo of 10/16 until we break out of the chop?

With the entire week basically a chop zone I would look more from a higher timeframe(last 4 hour waveform) or the entire range of last week (last weeks high and low points)and look for it to break from that.Patience can only help you. Scalping is the only option I see right now.
It either needs to get above 1.1395 or back below 1.1265 with a Daily close.
  • #6,462
  • Oct 19, 2008 5:59pm Oct 19, 2008 5:59pm
Quoting picky2004
Hi Bo
Can you please post an insight of Gbp/Yen
Thank you
Me personnally I dont trade GBP/Yen very often, dont even chart it. Cross pairs to me are just a distraction. Its direction depends on if GBP will find a bottom and try to rally back or retrace any and if the USD/Yen can continue to show support holding. If so It will continue to rise.
  • #6,463
  • Oct 19, 2008 6:00pm Oct 19, 2008 6:00pm
Hey Bo or anyone else who wants to answer.

I was just wondering what time do you guys start trading on Sunday night if you do. Most of my spreads on Oanda are back to normal although a few are still a little large. I'm trying to decide if I should start making some trades Sunday night or just wait until Monday morning. Any advice or thoughts are welcome.

Thanks,
Trublu
  • #6,464
  • Oct 19, 2008 6:02pm Oct 19, 2008 6:02pm
Quoting bjpumping
hi bo,thx for the reply to my question.if i may ask again,the chart u posted for eurusd and gbpusd...do you still use 1.34 and 1.55 as your extension on the fibs? cos my extensions aint the same value with your extensions.

i wish every trader the best this week.

happy pips taking

KC is correct I use the 138 and 161 extentions, those original settings were only meant to give early exits and a mistake on my part to post them that way.
  • #6,465
  • Oct 19, 2008 6:06pm Oct 19, 2008 6:06pm
Quoting trublu
Hey Bo or anyone else who wants to answer.

I was just wondering what time do you guys start trading on Sunday night if you do. Most of my spreads on Oanda are back to normal although a few are still a little large. I'm trying to decide if I should start making some trades Sunday night or just wait until Monday morning. Any advice or thoughts are welcome.

Thanks,
Trublu
I usually wait until the 0300-0500 candles, or until the first move of the week is over. You want to make the sentiment hasnt changed from last week before making a decision. The high volitility in the markets recently make it tempting to trade earlier but I will wait until I see more and let something develope.
  • #6,466
  • Oct 19, 2008 6:41pm Oct 19, 2008 6:41pm
I wouldn't necessarily call it a mistake tho, it did help us newbies trying to build confidence by getting out of profitable trades earlier than someone with your experience Bo.

Happy Pippin'
KC

Quoting Bobokus
KC is correct I use the 138 and 161 extentions, those original settings were only meant to give early exits and a mistake on my part to post them that way.
  • #6,467
  • Edited 7:13pm Oct 19, 2008 7:07pm | Edited 7:13pm
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Quoting Bobokus
I usually wait until the 0300-0500 candles, or until the first move of the week is over. You want to make the sentiment hasnt changed from last week before making a decision. The high volitility in the markets recently make it tempting to trade earlier but I will wait until I see more and let something develope.
Just piping in - the recent volatility really makes it worth your while to be patient and wait to see what's going on first before jumping in (this is the first week in about 3 that we haven't had a "gap" on Sunday). Anyways, I've probably never been more patient in my trading, but it's easy to capture 100+ pips on a cable trade if you're patient these days. Cable has been moving 300+ pips somewhat frequently (2 out of 5 last week).

Bernanke is talking tomorrow at 10, so me personally, I'm waiting to see the tone for the week. Can easily make a case for long or short right now, so best to see if bears/bulls are in charge for the week (price trapped between retracement pivot fib at 7205 and resistance pivot fib at 7382).

I'm curious though - if cable does rebound early in the week it would be rebounding due to weakening dollar, so I wouldn't expect it to trade much higher than 7946 resistance fib and also completes Retracement T1 @ 7955. I'd be favoring longs with price above 7441 targeting 7946.

Now we also have GBP GDP coming out at the end of the week, so I'm curious to see if we start trading below 7205 early in the week. In that scenario market is already pricing in the negative news. I'd be favoring shorts price below 7205 and targeting 6454.

Anyways, jusy my simple pre-trading week views. What's for sure is this will be a very volatile week. Good luck Bo and all traders....luck favors those prepared for battle.
"Wishful thinking dies hard." Igor T.
  • #6,468
  • Edited 3:27am Oct 20, 2008 2:22am | Edited 3:27am
It's been pretty bad two weeks for me, maybe its bad luck, or maybe just haven't been patient enough, but it just seemed so hard, and I got so fustrated for the week or so, but today I was able to bank 113 pips on GU, and I think market is returning the way that I am comfortable with.

Wish everyone good luck for this week.
TheLegace.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #6,469
  • Oct 20, 2008 3:42am Oct 20, 2008 3:42am
Quoting Bobokus
With the entire week basically a chop zone I would look more from a higher timeframe(last 4 hour waveform) or the entire range of last week (last weeks high and low points)and look for it to break from that.Patience can only help you. Scalping is the only option I see right now.
It either needs to get above 1.1395 or back below 1.1265 with a Daily close.
Thanks
  • #6,470
  • Oct 20, 2008 6:47am Oct 20, 2008 6:47am
There is so much volatility today, I am kind of dissappointed I have earned about 250 pips today, but decided to go back to demo, it's just infuriating when you loose real money and you make effectively demo money. Well atleast today went very well. I was ablet to close 120 pips on GU, I exited out of EU trade far to early, it just seemed like it was retracing. This is bringing confidence back into me atleast. I know even know I may have a loosing week, the next week will most likely give me profit.

I will be trading live tommorw, hope all goes well.

TheLegace.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #6,471
  • Oct 20, 2008 7:18am Oct 20, 2008 7:18am
Quoting TheLegace
There is so much volatility today, I am kind of dissappointed I have earned about 250 pips today, but decided to go back to demo, it's just infuriating when you loose real money and you make effectively demo money. Well atleast today went very well. I was ablet to close 120 pips on GU, I exited out of EU trade far to early, it just seemed like it was retracing. This is bringing confidence back into me atleast. I know even know I may have a loosing week, the next week will most likely give me profit.

I will be trading live tommorw, hope all goes well.

TheLegace.
If you where able to catch 250 pips today ,means you know what you're doing.You'll be fine!
I'm down 80 pips today and missed both shorts on GU and EUR.Can't win all the time!
  • #6,472
  • Oct 20, 2008 8:31am Oct 20, 2008 8:31am
hey hey,market with lots of volitility today.i am just short on usdjpy oping it will go my way...lol...but i have learnt something new looking at able and eurusd today.the break of fridays low and the making of new lows.i did not take any of the trades cos i came late but its good for those of you that caught it.

happy pips taking.
  • #6,473
  • Oct 20, 2008 2:24pm Oct 20, 2008 2:24pm
I miss the great deal yesterday,i was on the road throught.What can we say about cable?
But i observe that on 4hours tf,cable break thru my swing low and it has since then been retracing,though i could see a kind of support turning into a resistance.Bo,what can we expect?
  • #6,474
  • Oct 20, 2008 2:41pm Oct 20, 2008 2:41pm
Quoting hiswords
I miss the great deal yesterday,i was on the road throught.What can we say about cable?
But i observe that on 4hours tf,cable break thru my swing low and it has since then been retracing,though i could see a kind of support turning into a resistance.Bo,what can we expect?
More of the same, just keep selling rallies until we see support holding after a reversal signal.
  • #6,475
  • Oct 20, 2008 11:54pm Oct 20, 2008 11:54pm
I don't know if anyone is watching EU right now, but it just broke through it's yearly lows and made a huge low, I don't know if price will continue to fall, but I expect quite a bit of price movement today, because london hasn't even opened and already market has this much driving force. Just waiting for a retrace and entry, there was a tiny swing retrace to really show how much strength is in the downtrend movement, the market seems to be extremely bearish. Let me know what you all thing.

TheLegace.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #6,476
  • Oct 21, 2008 12:15am Oct 21, 2008 12:15am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Quoting TheLegace
I don't know if anyone is watching EU right now, but it just broke through it's yearly lows and made a huge low, I don't know if price will continue to fall, but I expect quite a bit of price movement today, because london hasn't even opened and already market has this much driving force. Just waiting for a retrace and entry, there was a tiny swing retrace to really show how much strength is in the downtrend movement, the market seems to be extremely bearish. Let me know what you all thing.

TheLegace.
I can only speak for cable as that's the only one I'm concentrating on. I was expecting big drops early in the week if started strading below 7205 assuming market pricing in negative announcement data at end of week. Just banked a nice quick 55 pips on my largest position. Smallest one had entry at 7167 targeting 6862, and second largest one at 7186 targeting 6957. The volatility will be awesome tomorrow!!! There's no najor announcements, but I think US indices will fall and Apple has earning release tomorrow which will not help things either. Either way GBP GDP at end of week, retail sales, and mortgage approvals I expect o help bear team. Sorry that has nothing to do with Euro...lol. But it certainly looks like a very volatile day so far. Good luck my man!
"Wishful thinking dies hard." Igor T.
  • #6,477
  • Oct 21, 2008 12:57am Oct 21, 2008 12:57am
Quoting TheLegace
I don't know if anyone is watching EU right now, but it just broke through it's yearly lows and made a huge low, I don't know if price will continue to fall, but I expect quite a bit of price movement today, because london hasn't even opened and already market has this much driving force. Just waiting for a retrace and entry, there was a tiny swing retrace to really show how much strength is in the downtrend movement, the market seems to be extremely bearish. Let me know what you all thing.

TheLegace.
Legace,
I can see what you are talking about,3312 had seems to be a point av been expecting it to break through.If price hold below it throught dis week,i believe we should be prepared for a huge journey south till the end of this month,that is if am right.Anyway hav been short on it for a a while now,already in green
Happy pipping!!!!!!!
  • #6,478
  • Oct 21, 2008 1:44am Oct 21, 2008 1:44am
i think am done for the day,made over 100pips in cable and fiber and well over 150 in gbp/jpy.Target met,see u guyz tommorow.
Happy Pipping!!!!!!!!!
  • #6,479
  • Oct 21, 2008 2:07am Oct 21, 2008 2:07am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Quoting hiswords
i think am done for the day,made over 100pips in cable and fiber and well over 150 in gbp/jpy.Target met,see u guyz tommorow.
Happy Pipping!!!!!!!!!
LOL. Agreed. I bailed before my targets were met as the account looked good where it was...lol. 55 pips 1 large position on cable. 2nd largest position good for 160 pips. 3rd and smallest was only good for 138. But I scale into my positions though, so number of pips are misleading. Trade was good for 2.96% account increase. Woo-hoo!!
"Wishful thinking dies hard." Igor T.
  • #6,480
  • Oct 21, 2008 4:58am Oct 21, 2008 4:58am
Does anyone have an opinion on the retracement and subsequent break of downtrend low on fiber. I entered short at the break 3234 but am wondering if scalping is in order or if I should set my goals higher? BTW how do you attach a snapshot to the post. I've asked b4 but no reply.

Aloha
Attached Image
A lawn mower is not an effective tool to pick-up dog poop!
2 traders viewing now