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Fibonacci Trading with Bobokus

  • #6,961
  • Nov 19, 2008 4:12pm Nov 19, 2008 4:12pm
This should be the set up for tomorrow!
As long the mkt. continue to make lower lows we should follow with the intraday fib till we see a retracement.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp nov. 19 set.gif Size: 17 KB
  • #6,962
  • Nov 19, 2008 4:14pm Nov 19, 2008 4:14pm
Bo or Sherm,
Did you guys took any short trades on Gu or EUR today?
  • #6,963
  • Nov 19, 2008 4:27pm Nov 19, 2008 4:27pm
bullish divergence on the daily..watchout
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.JPG Size: 241 KB
  • #6,964
  • Nov 19, 2008 5:39pm Nov 19, 2008 5:39pm
Quoting bjpumping
hello bo, you said you are going into been an educator type of career in one of your posts...great for you.anyway,i hope you are still making pips as usual (cos you are the master).
[b]anyway, i lost some pips yesterday trading,about 45 pips and right ,there and then,i went back to this thread and discovered something,you do use trendlines on your posts on the 1 hour time frame...i use it only on 4 hour time frame but i have addded it to my 1 hour now and i have made more than 60 pips trading 2 retracements with the trend line as further...

If your going to use a trendline learn look at it as something that is not going to interfere with your decesion making with the fibbs....since trendlines block people from not having a bias. Only use the obvious trendlines other people will trade as well. Bo will tell you something similar...Thats what he tought me back when I use to have a trendlien adiction lol
  • #6,965
  • Nov 19, 2008 5:41pm Nov 19, 2008 5:41pm
Bobokus Could You Please Post Yestarday Intraday.
  • #6,966
  • Nov 19, 2008 5:44pm Nov 19, 2008 5:44pm
Quoting speedarad
Bo or Sherm,
Did you guys took any short trades on Gu or EUR today?
Yea my friend I took a short before the explosion up took place in gbpusd....I had a sell limit at 5088 and got out with 60 pips ....after that I whent to sleep lol
  • #6,967
  • Nov 19, 2008 7:42pm Nov 19, 2008 7:42pm
I got a trade pending here to go long at 8360 on eur/gbp, heres what i see on the fibs.

1hr - resting on the 61.8 and on the 4hr, very close to its 50
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eg.JPG Size: 122 KB
Click to Enlarge Name: eg4hr.JPG Size: 120 KB
  • #6,968
  • Nov 19, 2008 8:03pm Nov 19, 2008 8:03pm
Quoting big_pipin
I got a trade pending here to go long at 8360 on eur/gbp, heres what i see on the fibs.

1hr - resting on the 61.8 and on the 4hr, very close to its 50

lol your doing this from school lol......and yea measure the whole move on the daily chart....hit me up on skype when your back on
  • #6,969
  • Nov 19, 2008 9:15pm Nov 19, 2008 9:15pm
Bobokus Does Me Chart Looks Right?
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Click to Enlarge Name: bobokus.gif Size: 34 KB
  • #6,970
  • Nov 19, 2008 9:19pm Nov 19, 2008 9:19pm
does me chart looks good
Attached Image (click to enlarge)
Click to Enlarge Name: 434.gif Size: 26 KB
  • #6,971
  • Nov 19, 2008 9:27pm Nov 19, 2008 9:27pm
hey sherman, question on gu. when we get these little pullbacks in price, but it doesnt even retrace to the 32.8, is it safe to take it short if it seems weak, or just wait for one of the levels to be hit.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.JPG Size: 206 KB
  • #6,972
  • Nov 19, 2008 9:53pm Nov 19, 2008 9:53pm
does me chart look good
Attached Image (click to enlarge)
Click to Enlarge Name: bobokus123.gif Size: 28 KB
  • #6,973
  • Nov 19, 2008 10:13pm Nov 19, 2008 10:13pm
Quoting big_pipin
I got a trade pending here to go long at 8360 on eur/gbp, heres what i see on the fibs.

1hr - resting on the 61.8 and on the 4hr, very close to its 50
I am long on tht too. I also shorted gbpchf @50% retracement
  • #6,974
  • Nov 19, 2008 11:28pm Nov 19, 2008 11:28pm
Quoting misterboy
I am long on tht too. I also shorted gbpchf @50% retracement
what do you have as a target?
  • #6,975
  • Nov 19, 2008 11:32pm Nov 19, 2008 11:32pm
Quoting big_pipin
what do you have as a target?
First target is 1.8000 on GBPCHF. I;ll just close half at that and move stop to B/E.

On EURGBP I think i'll close half at 0.8450 or so.

Let see if it goes there lol.
  • #6,976
  • Nov 20, 2008 1:35am Nov 20, 2008 1:35am
still in that eg trade? 8450 target for me
  • #6,977
  • Nov 20, 2008 3:02am Nov 20, 2008 3:02am
Quoting big_pipin
still in that eg trade? 8450 target for me
Yea I am still in. My TP got hit on the GBPCHF one for a little over 100 pips. I was thinking I should let half ride but it got hit before I could close half and leave the other..but its all good..I moved my stop on EURGBP to +20 just in case it reverses.
  • #6,978
  • Nov 20, 2008 3:15am Nov 20, 2008 3:15am
Actually I changed my mind and closed half right now so I dont have to check it constantly. Going to let the rest go....stops at +20.
  • #6,979
  • Nov 20, 2008 3:50am Nov 20, 2008 3:50am
Quoting big_pipin
hey sherman, question on gu. when we get these little pullbacks in price, but it doesnt even retrace to the 32.8, is it safe to take it short if it seems weak, or just wait for one of the levels to be hit.
Taking a break of a low or a high is never so safe....the reasons why is because after a move down like this price might still be trying to find a bottom...meaning that move down was still part of a whole...even if it collapeses you need to remeber that trading is all about placing the odds of the game on your sides...
  • #6,980
  • Nov 20, 2008 3:58am Nov 20, 2008 3:58am
Hi

To any FIB experts out-there, or anyone that can help.


I usually use reversal pattern breakouts for entry but now im looking at using the fibs to further pinpoint a better entry. Well in the attachment picture you will see this mornings EURGBP formation off of expected support. (On 15min tf) 5M TF used for fib candle analysis.

I entered long once after a 12345 reversal that arrived quickly and my second entry was based on the fibs retracing to the 50% and then giving me a piercing pattern followed by a new high. This at the time i thought was the higher-low to turn the trend around. Which it wasn't.

The next downmove was the real higher-low that then turned the trend around.

Can any FIB pro tell me if my entry method using the fibs was missing something? or was my stop simply too tight.
Any advice on this would be great.

Many thanks
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP FIB ENTRY.JPG Size: 150 KB
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