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Fibonacci Trading with Bobokus

  • #7,041
  • Dec 2, 2008 7:27am Dec 2, 2008 7:27am
Quoting speedarad
Good to see you around ,Bo!

Still here, Ive just been pretty busy lately
  • #7,042
  • Dec 2, 2008 9:41am Dec 2, 2008 9:41am
Finally T1 got hit and I close my trade on 40 pips profit.
I lost 10 pips on the first attempt.
Attached Image (click to enlarge)
Click to Enlarge Name: pin euro.gif Size: 20 KB
  • #7,043
  • Dec 2, 2008 10:18am Dec 2, 2008 10:18am
Good entry opportunity on GU beloww the red line ,based on rejection of intraday levels.
And I missed it!
Attached Image (click to enlarge)
Click to Enlarge Name: gbp rejection.gif Size: 17 KB
  • #7,044
  • Dec 2, 2008 10:20am Dec 2, 2008 10:20am
currently up some good pips...up 800 pips for the week

This trade is a winner no matter what happends

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 21 KB
  • #7,045
  • Dec 2, 2008 10:33am Dec 2, 2008 10:33am
Looks like it slow down a bit right on swing levels.
  • #7,046
  • Dec 2, 2008 12:41pm Dec 2, 2008 12:41pm
hello shermenator,i asked you a question but you did not reply me...will be glad if you could at least reply my questions.i missed most of the action today...tomorrow is another day.
  • #7,047
  • Dec 2, 2008 1:17pm Dec 2, 2008 1:17pm
Quoting speedarad
Good entry opportunity on GU beloww the red line ,based on rejection of intraday levels.
And I missed it!
Dont sweat it, it will set up again.
  • #7,048
  • Dec 2, 2008 1:26pm Dec 2, 2008 1:26pm
AU, on the 4hr looks like a nice set up soon. Possible bounce at 6345.
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  • #7,049
  • Dec 2, 2008 1:36pm Dec 2, 2008 1:36pm
Quoting big_pipin
AU, on the 4hr looks like a nice set up soon. Possible bounce at 6345.
I would wait until I saw it trade higher than the previous 4 hour period before buying into it.
  • #7,050
  • Dec 2, 2008 7:41pm Dec 2, 2008 7:41pm
EUR met the target T1 today but we could see another raging day or a possible reversal.
GBP was in range all day so unless I see a close above the high of the day or below the low I will treat as a scalp any trade I may take.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu set dec 2.jpg Size: 98 KB
Click to Enlarge Name: gu set dec 2.jpg Size: 99 KB
  • #7,051
  • Dec 2, 2008 7:53pm Dec 2, 2008 7:53pm
Quoting speedarad
EUR met the target T1 today but we could see another raging day or a possible reversal.
GBP was in range all day so unless I see a close above the high of the day or below the low I will treat as a scalp any trade I may take.

If it does get too choppy on the 1 hour just zoom the chart out to the 4 hour and monitor it from that timeframe.
  • #7,052
  • Dec 3, 2008 12:38am Dec 3, 2008 12:38am
This is a day you whant to zoom out and trade larger timeframe swings and adjust your style ....you see right now I dont trust shorts in the 1 hour simply based on how the market is showing a bitt of weakness to the bearish side....so I dont trust intraday at this point....so I simply zoom out and trade longer timeframes...at this point we are looking at how marketmakers have come to a pause after such a drop and we are going to see if they are going to be scalping...so make sure to pull the trigger when the entries look clear and not when you have to be hoping you made the right call.....if the entry is not obvious then it should not be taken.Their will be a million more trades...its always better to miss a good trade then be in a bad one.

Attached Image (click to enlarge)
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  • #7,053
  • Dec 3, 2008 4:35am Dec 3, 2008 4:35am
Quoting Shermenator
Damm you beat me lol... I am short on the gbpusd since 1.5309
And short in eurusd since 1.2859....goodstuff man

Doubled my short position yesterday at 1.4961
  • #7,054
  • Dec 3, 2008 7:03am Dec 3, 2008 7:03am
Quoting jicjoc
Doubled my short position yesterday at 1.4961

Nice Job ! Ride it for all you can get from it, take some profits if you have to but the the market force you out of the trade.
  • #7,055
  • Dec 3, 2008 7:25am Dec 3, 2008 7:25am
Hi, Bo thanks for your comments!

I have a question about news.Let's say you are in a trade for a while and you have a couple of pips in your favor and you have some big announcement coming up.Do you take a chance and stay in the trade because your initial believes or you close the trade to avoid any possible spikes and look to renter if the Mkt. conditions are favorable?
  • #7,056
  • Dec 3, 2008 10:17am Dec 3, 2008 10:17am
Quoting speedarad
Hi, Bo thanks for your comments!

I have a question about news.Let's say you are in a trade for a while and you have a couple of pips in your favor and you have some big announcement coming up.Do you take a chance and stay in the trade because your initial believes or you close the trade to avoid any possible spikes and look to renter if the Mkt. conditions are favorable?

Alot would depend on how much in profit I already am and if the forcasted news event will be enough to change the sentiment against the direction I am trading. If its more of a scalping type trade I would just close it if its in profit and wait for the dust to settle.
Another option is to simply take partial profits out and if the market moves against your position youve banked most of what you had and the rest you leave running wont really matter if it gets stopped out.
  • #7,057
  • Edited 1:50pm Dec 3, 2008 1:40pm | Edited 1:50pm
Quoting jicjoc
Doubled my short position yesterday at 1.4961

I did not add to it since I did not like the range in the 4 hour or 1 hour but I am still holding my daily short and up about 600 pips on it...though I did take a short in the eurusd scalp last night and made about 50 pips I am still holding it though but its a winner already and I aleady closed my daily trade with about 300 pips ....nice trading my friend
  • #7,058
  • Dec 4, 2008 2:38am Dec 4, 2008 2:38am
Here is another of my short trades I just entered.....another winner ...I am 8 in a row this week...

Attached Image (click to enlarge)
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  • #7,059
  • Dec 4, 2008 5:28am Dec 4, 2008 5:28am
hey,shermenator and jicjoc...nice trades there.great great great.

i am really learning and i keep learning...taking long trades from the daily chart seems to be the best.i hope i will be able to make some pips today as well.



Buy when price is going up and Sell when price is going down...always do what price is doing.
  • #7,060
  • Dec 4, 2008 12:59pm Dec 4, 2008 12:59pm
4hr analysis for EU...anyone else got the same thing?..this light blue fib seems pointless. the only fibs that seem to be respected are the daily, as it bounced off 3220 and 3051
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