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Fibonacci Trading with Bobokus

  • #7,361
  • Dec 17, 2008 7:28pm Dec 17, 2008 7:28pm
Quoting big_pipin
why did you buy there, and whats with that last fib you placed, i dont see how that last one had any importance?

I would have shorted at or around 4078 when price broke last candle lows( 5 candles over), and as usual get screwed over in that rally.
The mkt try twice to breakout above yesterday high but failed.The uptrend momentum prove to be so strong from yesterday move that give a very small retracement which prove not to be tradable.
My entry was above the highest high of the day and I want it also above Down Trend High fib level from the Daily chart (the red line) which is a very strong level of resistance ( I mention last night also in my post).
The swing fib (blue) has nothing to do with my entry, it was just to see how the trade progress in case we have an retracement on the initial move.

Your short entry was good ,but remember,you was trading against a strong uptrend so you should treat it as a scalp.It's not always working but that's O.K. as long as you control the loses.You"ll make up on the big runs when you trade with the trend.

Hope this helps!
  • #7,362
  • Dec 17, 2008 9:09pm Dec 17, 2008 9:09pm
I downloaded MT 4 from IBX and am trying to customize my Fib lines. I can't figure out how to get to where I can do that. Can anyone help?

-Angie
  • #7,363
  • Dec 17, 2008 10:23pm Dec 17, 2008 10:23pm
Whats up guys
  • #7,364
  • Dec 17, 2008 10:25pm Dec 17, 2008 10:25pm
Quoting Shermenator
Whats up guys
What's up? I'm your fan now... lol

Do I have time to take a nap or sleep for awhile before you start trading???
  • #7,365
  • Dec 17, 2008 10:35pm Dec 17, 2008 10:35pm
Quoting angierosed
What's up? I'm your fan now... lol

Do I have time to take a nap or sleep for awhile before you start trading???


its a bitt rangy today might not have many trades to give as well as I have made a very nice growth this week....meaning I dont really need to trade anymore...
  • #7,366
  • Dec 17, 2008 10:42pm Dec 17, 2008 10:42pm
Quoting Shermenator
its a bitt rangy today might not have many trades to give as well as I have made a very nice growth this week....meaning I dont really need to trade anymore...
Ya, the markets are goofy tonight. Maybe in the morning???
  • #7,367
  • Dec 17, 2008 10:45pm Dec 17, 2008 10:45pm
Quoting angierosed
Ya, the markets are goofy tonight. Maybe in the morning???
probably not...I wont be entering daily trades this late into the week...I have already made good money and dont think Ill be seeking trades if none arre at disposal
  • #7,368
  • Dec 17, 2008 10:57pm Dec 17, 2008 10:57pm
Quoting angierosed
I downloaded MT 4 from IBX and am trying to customize my Fib lines. I can't figure out how to get to where I can do that. Can anyone help?

-Angie
Angie, go to post 1 in this thread by Bobokus. You will find videos, instructions and a template that should help you.
  • #7,369
  • Dec 17, 2008 10:57pm Dec 17, 2008 10:57pm
Quoting Shermenator
probably not...I wont be entering daily trades this late into the week...I have already made good money and dont think Ill be seeking trades if none arre at disposal
And not on the Bobokus website either I assume?
  • #7,370
  • Dec 17, 2008 11:01pm Dec 17, 2008 11:01pm
Quoting angierosed
And not on the Bobokus website either I assume?
that has nothing to do with this site...lets focuse on this thread please
  • #7,371
  • Dec 17, 2008 11:05pm Dec 17, 2008 11:05pm
Quoting Shermenator
that has nothing to do with this site...lets focuse on this thread please
I know. I was just asking for future reference when I do sign up for it. I'll shut up now.
  • #7,372
  • Dec 18, 2008 12:09am Dec 18, 2008 12:09am
when would you pull the trigger on a trade? off intraday or swing? or do they both need to line up?
  • #7,373
  • Edited 1:38am Dec 18, 2008 1:18am | Edited 1:38am
I got in long on this puppy usdchf sorry for being late

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  • #7,374
  • Dec 18, 2008 1:26am Dec 18, 2008 1:26am
shorted eur/usd here. looking for 1.42
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  • #7,375
  • Dec 18, 2008 1:32am Dec 18, 2008 1:32am
AU 1hr

an easy 50 pips, if only all of them were!
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  • #7,376
  • Dec 18, 2008 2:18am Dec 18, 2008 2:18am
Quoting Shermenator
I got in long on this puppy usdchf sorry for being late

Attachment
Shermenator,
whats ur take profit on this one--USDCHF
  • #7,377
  • Dec 18, 2008 2:36am Dec 18, 2008 2:36am
Quoting ayour2a
Shermenator,
whats ur take profit on this one--USDCHF
MY Limit is 0790
  • #7,378
  • Dec 18, 2008 3:02am Dec 18, 2008 3:02am
lost ....no one is profit taking in this pair or the eurusd
  • #7,379
  • Dec 18, 2008 4:30am Dec 18, 2008 4:30am
I went long at 1.4421 this morning.
Stop loss and trailing stop loss in place, I went to buy a Xmas tree.
Returned home to find I was pleasantly stopped out at 1.4664 giving me a whopping 243 pips to hang on the tree.

We continue to witness history in the making as EURUSD has had its biggest monthly and weekly bull moves EVER.

It's tempting to go short sometimes, but the risk is high. Buying the small dips has worked well for me this week.

Looking for that next dip now.
Price is currently at 1.4570.
Perhaps the 1.4530 area? - just looking at a few fibs & S&R.
- Let's wait and see what the market will show us.
  • #7,380
  • Dec 18, 2008 4:40am Dec 18, 2008 4:40am
Hi Guys, slightly off the current strategy, but I have noticed that when the MACD diverges from the price action, a substantial breakout often occurs. Has anyone else noticed this, and does it have any vailidity? Does anyone have and mq4 that would compare MACD direction to price movment and highlight this divergence. I've attached a 30M G/U chart - hope you can se it.

Thanks
sohotfx
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