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Fibonacci Trading with Bobokus

  • #6,701
  • Oct 29, 2008 9:45pm Oct 29, 2008 9:45pm
Quoting Bobokus
We can start pulling the Retracement fib on the Daily as soon as we see Daily highs being broken.The reasoning is that a Daily high being broken is a bullish sign.

Thank you.
  • #6,702
  • Oct 30, 2008 12:48am Oct 30, 2008 12:48am
Quoting Bobokus
You were entering at the correct place from what I can see, In my chart it should have had the Swing instead of the Intraday because we were assuming the rest of the day hadnt completed, just didnt realise that until you pointed it out. The progression of fibs should look something like the following charts.
This instance is also a case of looking for a reversal after strong trending when we have a day in which the Intraday targets fail to be reached.
Hi Bo, The times you have posted sequences like this I have found it very informaative and helpful. A picture paints a thousand words. Thanks for your input.
  • #6,703
  • Oct 30, 2008 3:03am Oct 30, 2008 3:03am
Whats up guys check this video ou and let me know what you guys think
Check this video out...and let me get your opinion guys

http://video.google.com/videoplay?do...00958565&hl=es
__________________
  • #6,704
  • Oct 30, 2008 4:26am Oct 30, 2008 4:26am
I am watching a possible long, it looks like price is bouncing of my intraday long levels, the support levels held rather well, past couple days. Let's hope today is a good day. So far EU is getting ready, and GU maybe in a couple hours later.

I have found EU always sets up moves before GU, but GU always will have greater pip movement and profits because of that.

TheLegace.
Good Luck Everyone.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #6,705
  • Oct 30, 2008 5:27am Oct 30, 2008 5:27am
Quoting Shermenator
Whats up guys check this video ou and let me know what you guys think
Check this video out...and let me get your opinion guys

http://video.google.com/videoplay?do...00958565&hl=es
__________________
I am quite concerned with the issue of the Amero as well, but I would take this persons words with a grain of salt. I looked up his name and his credibility is questionable. I don't know much about his show, but I read a bit about him on Wiki, and since I am too lazy to check whether wikis source was credible aswell, but he is known as a racist and supremist. His carreer has gone into shambles with seems possible because I know United States is heading toward the facist state, and now he gaining all this attention for alleged Amero. I am always the first one to point gun at the government, bankers and lobbyist, trust me I dream about killing people like that, but I just don't beleive the Amero will be initiated just yet. I know it's something people should constantly worry about, and especially when the economy is in turmoil. But me being Canadian will know this will never happen atleast in a very minimal timeframe.

If you did not know Canada had elections recently, and although I hate Conservative, because they have bent over for Republicans in US, their finally impressing me. I just recently turned 18 and I voted first time, and I voted for something I would never have expected for. But the economic policy that was laid out by current conservative government that just became elected will never come close to the Amero. Our GDP still might grow very very minimally, in the speech the conservative politician finally critisized the US for their stupid economic and banking policies. As well Canada has been rated number one for least corrupt and best banking in the world, which is why we didn't get so fucked over because of the economy past month or so.

Canada will never agree to this deal, because our currency is doing incredibly well and we do not have deficiet yet, any reason for this will cause massive revolt. On top of that, even though most if not all politicians are self-serving and selfish pricks, they are so against each other on issues, that they will not agree with each other, its funny. American politicians hate each other because of party differences(even though their the same). Canadian politicans make it really personal, as well we don't have a two party system, and currently there is no majority government(a large portion of liberals/NDPs(kind of labour party) have a great deal of power. Amero atleast in the next 2 years I highly doubt will be introduced in Canada.

But I always have my guard up. But let me warn you if this does come into action, I will fight for what I beleive in, I would be willing to drop everything, university, job anything, because this is important, and I don't want my children suffering because of corruption, greed and fascism. This is an imporant issue that should be known to all North Americans. The only reason the European Union works is because there are just to many different countries, people, nationalities and differences which means satisfying a rich few is quite difficult. In North America the corporations who have power have roughly the same power in all three countries; policatally, economically and their in bed with politicians. Do not let your respective counties union, because the economy will be founded on horribly corrupt principles, unlike what is USD/CAD and maybe Mexican Peso right now.

I hope post wasn't to distracting, but peopel should atleast be a little concerned, while trading forex, because this will affect them.

TheLegace.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #6,706
  • Oct 30, 2008 6:14am Oct 30, 2008 6:14am
Quoting TheLegace
I am quite concerned with the issue of the Amero as well, but I would take this persons words with a grain of salt. I looked up his name and his credibility is questionable. I don't know much about his show, but I read a bit about him on Wiki, and since I am too lazy to check whether wikis source was credible aswell, but he is known as a racist and supremist. His carreer has gone into shambles with seems possible because I know United States is heading toward the facist state, and now he gaining all this attention for alleged Amero. I am always the first one to point gun at the government, bankers and lobbyist, trust me I dream about killing people like that, but I just don't beleive the Amero will be initiated just yet. I know it's something people should constantly worry about, and especially when the economy is in turmoil. But me being Canadian will know this will never happen atleast in a very minimal timeframe.

If you did not know Canada had elections recently, and although I hate Conservative, because they have bent over for Republicans in US, their finally impressing me. I just recently turned 18 and I voted first time, and I voted for something I would never have expected for. But the economic policy that was laid out by current conservative government that just became elected will never come close to the Amero. Our GDP still might grow very very minimally, in the speech the conservative politician finally critisized the US for their stupid economic and banking policies. As well Canada has been rated number one for least corrupt and best banking in the world, which is why we didn't get so fucked over because of the economy past month or so.

Canada will never agree to this deal, because our currency is doing incredibly well and we do not have deficiet yet, any reason for this will cause massive revolt. On top of that, even though most if not all politicians are self-serving and selfish pricks, they are so against each other on issues, that they will not agree with each other, its funny. American politicians hate each other because of party differences(even though their the same). Canadian politicans make it really personal, as well we don't have a two party system, and currently there is no majority government(a large portion of liberals/NDPs(kind of labour party) have a great deal of power. Amero atleast in the next 2 years I highly doubt will be introduced in Canada.

But I always have my guard up. But let me warn you if this does come into action, I will fight for what I beleive in, I would be willing to drop everything, university, job anything, because this is important, and I don't want my children suffering because of corruption, greed and fascism. This is an imporant issue that should be known to all North Americans. The only reason the European Union works is because there are just to many different countries, people, nationalities and differences which means satisfying a rich few is quite difficult. In North America the corporations who have power have roughly the same power in all three countries; policatally, economically and their in bed with politicians. Do not let your respective counties union, because the economy will be founded on horribly corrupt principles, unlike what is USD/CAD and maybe Mexican Peso right now.

I hope post wasn't to distracting, but peopel should atleast be a little concerned, while trading forex, because this will affect them.

TheLegace.
Hi, I have been following this thead since a couples of weeks , I know this is an silly question , but I need to know what's GU ???sorry I'm new in Forex too ...But I'm ready to learn from people like you ..by the way I'm agree with you in reference of this video.
  • #6,707
  • Oct 30, 2008 7:05am Oct 30, 2008 7:05am
Quoting focuson
Hi, I have been following this thead since a couples of weeks , I know this is an silly question , but I need to know what's GU ???sorry I'm new in Forex too ...But I'm ready to learn from people like you ..by the way I'm agree with you in reference of this video.
British pound vs.US Dollar.
Britsh pound also go by the name "cable" wich is use by traders sometime.
  • #6,708
  • Oct 30, 2008 7:38am Oct 30, 2008 7:38am
Quoting focuson
Hi, I have been following this thead since a couples of weeks , I know this is an silly question , but I need to know what's GU ???sorry I'm new in Forex too ...But I'm ready to learn from people like you ..by the way I'm agree with you in reference of this video.
You should seriously check out www.babypips.com this thread will be impossible to learn until you read through the introduction about forex.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #6,709
  • Oct 30, 2008 10:42am Oct 30, 2008 10:42am
hi bo.long time fib user .just want to show the big picture in conjuction with price action.couldnt wait for tomorrow
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  • #6,710
  • Oct 30, 2008 11:17am Oct 30, 2008 11:17am
Took a short on EU after taking losses for longs, the setup should make up for loss and a bit of profit for the day.

I am holding the price may reach T1 targets, but if it looks like it will bounce of low then I will close it.

I may just close it because of the time of the day

Good Luck.
TheLegace.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #6,711
  • Oct 30, 2008 11:20am Oct 30, 2008 11:20am
Quoting panos69
hi bo.long time fib user .just want to show the big picture in conjuction with price action.couldnt wait for tomorrow
Its also testing the pivot of the Retracement as well, it may get caught in between these levels now and range. here is my 4 hour view...watching this from the 1 hour though, looking to play the bounce here for a few if price action will be agreeable.
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  • #6,712
  • Oct 30, 2008 11:23am Oct 30, 2008 11:23am
Quoting TheLegace
Took a short on EU after taking losses for longs, the setup should make up for loss and a bit of profit for the day.

I am holding the price may reach T1 targets, but if it looks like it will bounce of low then I will close it.

I may just close it because of the time of the day

Good Luck.
TheLegace.
Same here my original long was stopped out on a break short again for a pretty good loss, but reversed my position and closed it out at 1.2945 for a small profit.
  • #6,713
  • Oct 30, 2008 11:24am Oct 30, 2008 11:24am
i am back this afternoon.went short on eurusd because 3 candles had already made new lows,so i entered and the break of the low of the last candle and i bagged 98 pips.went short at 1.29138 and bagged 98 pips, i came out cos i was just satisfied with the pips.waiting for a retracement into intraday levels and will possibly go short again if its a clear trade...i am also looking at usdcad, waiting for intraday low to be tested and i feel it will be broken because from the 4hour chart of the usdcad 3candles have been formed with new high,hence i feel there is a possibility of buyers still on the ride here...hence if the next 4 hour candle breaks the high of the last candle,then i will go long.

if i want to post a chart,how do i go about it?will appreciate if anyone can help

happy pips taking
  • #6,714
  • Oct 30, 2008 11:34am Oct 30, 2008 11:34am
great bo and legace both made up for their losses.this days i use stops to enter trade..either if i want to buy or sell and most of the time i place my stops 10 pips away from the high or low of the next candle if i want to buy or sell respectively.i think some pips can still be taken today.

happy pips taking
  • #6,715
  • Oct 30, 2008 11:41am Oct 30, 2008 11:41am
I was looking at the long trade and it was giving me doubts, because of the candlestick movements. There two opposite bodies that were the same size. I Remember on reading on Babypips, if you add those candlesticks it would show a reversal pattern because when they are added the resulting candle would be a very small wick candle, which usually indicates reversal. I unfortunately went along with the trade, just because I really wanted a trade, but darn it would have been avoided.

Well Learned Something for Next time

TheLegace.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #6,716
  • Oct 30, 2008 11:46am Oct 30, 2008 11:46am
though the trade i took was a little bit risky but i based my judgement also on the 4 hour chart, anyway,i came out with some pips ,happy i did that..though its still a demo account but i think i am making progress.

happy pips taking
  • #6,717
  • Oct 30, 2008 12:06pm Oct 30, 2008 12:06pm
Quoting TheLegace
I was looking at the long trade and it was giving me doubts, because of the candlestick movements. There two opposite bodies that were the same size. I Remember on reading on Babypips, if you add those candlesticks it would show a reversal pattern because when they are added the resulting candle would be a very small wick candle, which usually indicates reversal. I unfortunately went along with the trade, just because I really wanted a trade, but darn it would have been avoided.

Well Learned Something for Next time

TheLegace.
Just keep pluggin away, experience gained is irreplaceable.
  • #6,718
  • Oct 30, 2008 12:09pm Oct 30, 2008 12:09pm
Quoting bjpumping
though the trade i took was a little bit risky but i based my judgement also on the 4 hour chart, anyway,i came out with some pips ,happy i did that..though its still a demo account but i think i am making progress.

happy pips taking

Nice job on your trade, right now it doesnt matter if your in demo, its the experience your gaining which will give you confidence in what your doing. You will know when your ready to trade live.
  • #6,719
  • Oct 30, 2008 4:08pm Oct 30, 2008 4:08pm
Finally,i am done for the day.i made 98 pips earlier and afterwards i entered 2 trades...went long at 1.64347 on cable and went long at 98.432 on usdjpy,i placed a stop loss on the usdjpy trade and my stop loss was hit but the price went up back and i lost 33 pips...almost cried cos i was not in front of my system and that was why i used a stop loss and on cable,i exited too early..was thinking the trade was going to reverse,exited 6 pips...funny though.i am 70+ pips today and i made more than 100 pips on tuesday, i think this is very wonderful at least for this week...and above all,i learnt great lessons today sincerely.i would have loved to still stay on line cos i feel there will still be opportunities to make more pips especially on usdcad and usdjpy but the condition is not favourable.most of the time i trade from the cafe, poor me, i am in a 3rd world country but above all,i am making progress and i am happy.
i will not stop to say thx to bo each day cos my trading has greatly improved and to everyone in the house,i say thanks as well.till next week,enjoy your weekend and.............................

happy pips taking
  • #6,720
  • Oct 30, 2008 4:14pm Oct 30, 2008 4:14pm
Quoting bjpumping
Finally,i am done for the day.i made 98 pips earlier and afterwards i entered 2 trades...went long at 1.64347 on cable and went long at 98.432 on usdjpy,i placed a stop loss on the usdjpy trade and my stop loss was hit but the price went up back and i lost 33 pips...almost cried cos i was not in front of my system and that was why i used a stop loss and on cable,i exited too early..was thinking the trade was going to reverse,exited 6 pips...funny though.i am 70+ pips today and i made more than 100 pips on tuesday, i think this is very wonderful at least for this week...and above all,i learnt great lessons today sincerely.i would have loved to still stay on line cos i feel there will still be...
Well Done, and your making the best of your time with the limited amout your getting to trade everyday.
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