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Fibonacci Trading with Bobokus

  • #7,381
  • Dec 18, 2008 6:55am Dec 18, 2008 6:55am
Quoting priceaction
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...
So price eventually retraced to 1.4539 - just above the 50% fib level.

This provided a great opportunity to buy at the bottom of one of the Euro's MINOR dips.

The next question is; "will we break the intraday high"?
the most bullish Euro week in history suggests "YES" to me, but we won't really know until it shows us ...or not, as the case may be.
Attached Image (click to enlarge)
Click to Enlarge Name: eurodip.jpg Size: 98 KB
  • #7,382
  • Dec 18, 2008 7:30am Dec 18, 2008 7:30am
hello house,did anyone see the short on gbpusd just now?i missed the opportunity,my internet connection disconnected and this is something i have been waiting for snce morning.anyway,i will not be in a rush, i know some other opportunity will come.its good to miss a good opportunity than to loose a trade.




Buy when price is going up and Sell when price is going down...always do what price is doing.
  • #7,383
  • Dec 18, 2008 9:02am Dec 18, 2008 9:02am
Does anyone have MT 4 from IBFX? I am trying to find out to change the Fib lines. I watched the youtube video at the beginning of this forum. But I don't think I have the same platform. So when I click on the line and select preferences, the option is not there.

-Angie
  • #7,384
  • Dec 18, 2008 9:38am Dec 18, 2008 9:38am
Quoting angierosed
Does anyone have MT 4 from IBFX? I am trying to find out to change the Fib lines. I watched the youtube video at the beginning of this forum. But I don't think I have the same platform. So when I click on the line and select preferences, the option is not there.

-Angie
Hi Angie...ALL MT4 platforms are the same. Draw your FIB line. Right click on the line between the HIGH and LOW, Choose FIBO PROPERTIES and then when that box pops open, Choose FIBO LEVELS. Make your changes there. Double click on the LEVEL, make the Change, then On the DESCRIPTION and make the change. If you want to ADD levels, click on the ADD button.

See below. Hope this helps.

MG
Attached Images
  • #7,385
  • Dec 18, 2008 10:49am Dec 18, 2008 10:49am
hello house,i was able to bag in 57 pips on a short on gbpusd today.i should have held in but i was afraid..i was not patient...lol

anyway,bagged in pips and thats the most important thing.

the eurousd too is coming down,looking at the daily candle,this may be a reversal in trend in the eurusd...lets wait till tomorrow and see.

i hope you guys backed in some pips today...cheers.




Buy when price is going up and Sell when price is going down...always do what price is doing.
  • #7,386
  • Dec 18, 2008 2:02pm Dec 18, 2008 2:02pm
Quoting Matrixxdg
Hi Angie...ALL MT4 platforms are the same. Draw your FIB line. Right click on the line between the HIGH and LOW, Choose FIBO PROPERTIES and then when that box pops open, Choose FIBO LEVELS. Make your changes there. Double click on the LEVEL, make the Change, then On the DESCRIPTION and make the change. If you want to ADD levels, click on the ADD button.

See below. Hope this helps.

MG
Great, thanks. And I think I'm supposed to double click on the line because right clicking wasnt working. I'll try again tonight.

Thanks for the help. Everyone on the forums are so helpful!
  • #7,387
  • Dec 18, 2008 10:24pm Dec 18, 2008 10:24pm
I have placed a trade I will be taking myself

Attached Image (click to enlarge)
Click to Enlarge Name: audusd.gif Size: 22 KB
  • #7,388
  • Dec 18, 2008 11:03pm Dec 18, 2008 11:03pm
I have cancelled my buy stop
  • #7,389
  • Dec 19, 2008 1:22am Dec 19, 2008 1:22am
Hi guys, I hope I'm not too late...I just started reading this thread and I found it very interesting, the way you guys using multiple fibs I can't wait to implement it to my trading, the problem I'm having is I don't really know how it really works..since the thread is quite huge

Guess I'm gonna have to read it one by one...
  • #7,390
  • Dec 19, 2008 2:03am Dec 19, 2008 2:03am
EURUSD is ranging between 1.4322 and 1.4186
It could go either way and entering anywhere within this range, in my humble opinion, carries a high risk.
I have a EURUSD sell stop at 1.4184 and a buy stop at 1.4325.

Cable has broken out of its overnight range and 1.51 to the downside and shown us its intention for now.
I am short GBPUSD from 1.5095.

Good luck out there!
  • #7,391
  • Dec 19, 2008 3:10am Dec 19, 2008 3:10am
Quoting priceaction
EURUSD is ranging between 1.4322 and 1.4186
It could go either way and entering anywhere within this range, in my humble opinion, carries a high risk.
I have a EURUSD sell stop at 1.4184 and a buy stop at 1.4325.

Cable has broken out of its overnight range and 1.51 to the downside and shown us its intention for now.
I am short GBPUSD from 1.5095.

Good luck out there!
Santa's taking EURUSD & GBPUSD on a profitable ride to the South Pole today

This was easy money. Simply waiting for a break of the overnight range. (European time zone)
  • #7,392
  • Dec 19, 2008 8:21am Dec 19, 2008 8:21am
Hey, can someone please tell me which template and indicator files I need to download, I downloaded the original ones in the very first post but its just a blank grey chart
  • #7,393
  • Dec 19, 2008 12:05pm Dec 19, 2008 12:05pm
hello house,had a good day making some pips today.

shorted EURUSD at 1.40414 and got out at 1.40145.........26.90 pips
i got out early cos i was impatient

shorted cable again at 1.49375 and got out at 1.48637...73.80 pips

99pips altogether.

i hope shermenator has closed his long position on cable cos cable is going to the downside.

thats all for this week and may be i will not be trading till next year but if i happen to come on next week,then good.may the pips be with you all and enjoy your weekend as well.


Buy when price is going up and Sell when price is going down...always do what price is doing.
  • #7,394
  • Dec 19, 2008 4:37pm Dec 19, 2008 4:37pm
Here is my short on usd/cad ..i was late to the party, but i think we can get to 1500. 4hr (blue) support fibs were broken.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.JPG Size: 176 KB
  • #7,395
  • Dec 20, 2008 3:32pm Dec 20, 2008 3:32pm
I started reading this thread about 1 month ago. Actually, STUDYING it, not just reading through. Trading live for 2 weeks now. This is the 1st thread (and I've read them ALL) that actually teaches you HOW to trade. Making decision based on what the market is telling you, rather than just "enter-here-stop-here-and-hope-it-goes-my-way". Thank you SO MUCH bobokus.

Since I want to continue trading it live, but my studies have brought me to page 103 so far (early Jan of this year), I have a quick question and if it's been answered after pg 103 - my apologies - I'll get there soon.

Early this year, market was nice and smooth (compared to now). I find it very funny when bobokus and others comment how "cable is very volatile today, for some reason". I'm thinking... "Just wait until the last quarter"... can't wait to read those pages and see what develops.

My question (finally) is: Have any of you guys tried trading it on 15M? I mean, the volatility today on 15M is probably greater than 1H early this year. My swings are HUGE trading the 1H and was considering the 15M... Just wanted your opinions... Thanks
  • #7,396
  • Dec 20, 2008 4:21pm Dec 20, 2008 4:21pm
Quoting SamboYam
Hey, can someone please tell me which template and indicator files I need to download, I downloaded the original ones in the very first post but its just a blank grey chart
See post 7290.
You have an updated version EU and GU templates with all the fibs .
Start with Daily and scroll down to 1 hr.
  • #7,397
  • Dec 20, 2008 4:31pm Dec 20, 2008 4:31pm
Quoting optik
I started reading this thread about 1 month ago. Actually, STUDYING it, not just reading through. Trading live for 2 weeks now. This is the 1st thread (and I've read them ALL) that actually teaches you HOW to trade. Making decision based on what the market is telling you, rather than just "enter-here-stop-here-and-hope-it-goes-my-way". Thank you SO MUCH bobokus.

Since I want to continue trading it live, but my studies have brought me to page 103 so far (early Jan of this year), I have a quick question and if it's been answered after pg 103 -...

Before a jumped on this thread I was trading a strategy which the entries where made on 15min.chart(fine tunes as they called)
The problem is you get way to many false breakouts , to many false entry signals.
I'm pretty happy with the results on 1hr on this so I'm not going too look for anything on lower TF.
  • #7,398
  • Dec 20, 2008 4:36pm Dec 20, 2008 4:36pm
Quoting xcov
Hi guys, I hope I'm not too late...I just started reading this thread and I found it very interesting, the way you guys using multiple fibs I can't wait to implement it to my trading, the problem I'm having is I don't really know how it really works..since the thread is quite huge

Guess I'm gonna have to read it one by one...
I was worth for me learning!
It will take a while.Try to use Vhands tools it will speedup the proceses.
  • #7,399
  • Dec 20, 2008 5:02pm Dec 20, 2008 5:02pm
Quoting optik
I started reading this thread about 1 month ago. Actually, STUDYING it, not just reading through. Trading live for 2 weeks now. This is the 1st thread (and I've read them ALL) that actually teaches you HOW to trade. Making decision based on what the market is telling you, rather than just "enter-here-stop-here-and-hope-it-goes-my-way". Thank you SO MUCH bobokus.

Since I want to continue trading it live, but my studies have brought me to page 103 so far (early Jan of this year), I have a quick question and if it's been answered after pg 103 -...
I trade this in only 1 hour,4,8,daily, and weekly anything lower then that is a waste time because of the wipsaw and I get good money from the higher tiomeframes so I dont bother to drop below 1 hour since the market will give you more false breakouts...goodluck
  • #7,400
  • Dec 21, 2008 9:42am Dec 21, 2008 9:42am
Hi guys,

what do you think, EURUSD will go down till 1.3850 ( - 61.8%)?
All i need is just to be here and now.
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