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Fibonacci Trading with Bobokus

  • #7,401
  • Dec 21, 2008 11:12am Dec 21, 2008 11:12am
Quoting nasdakas
Hi guys,

what do you think, EURUSD will go down till 1.3850 ( - 61.8%)?
you cant say price will get to that point untill you test the other levels prior to it....dont worry about the place price will get to ...simply take the apportunities that arise on the way to it...
  • #7,402
  • Dec 22, 2008 4:36am Dec 22, 2008 4:36am
I used a sell stop below the short fib of friday's intraday while watching the price action on that area (sell stop below hammer).
Currenty over 100 pips up but I will watch it closely as we approach fridays low.
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  • #7,403
  • Dec 22, 2008 4:48am Dec 22, 2008 4:48am
Whats up guys
  • #7,404
  • Dec 22, 2008 4:48am Dec 22, 2008 4:48am
Just broken the low , put a stop at break even an lets see if it hits one of the targets .The black line is a strong support which coincides with T2.
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  • #7,405
  • Dec 22, 2008 4:56am Dec 22, 2008 4:56am
We hit target 1 and I moved the stop to friday's low ,currently over 200 pips.
Lets see if there is enough momentum to reach T2?
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  • #7,406
  • Dec 22, 2008 5:07am Dec 22, 2008 5:07am
whats up guys
  • #7,407
  • Dec 22, 2008 5:08am Dec 22, 2008 5:08am
I think I am happy with target one and close the trade.
Many thanks again to BO and Shermantor to leave us a wealth of information in thread .
  • #7,408
  • Dec 22, 2008 5:19am Dec 22, 2008 5:19am
Nice trade alex.
  • #7,409
  • Dec 22, 2008 5:23am Dec 22, 2008 5:23am
Quoting Liquid
Nice trade alex.
Thanks.
  • #7,410
  • Dec 22, 2008 5:34am Dec 22, 2008 5:34am
I have just drawn a swing fib (red one) and see if the resistance levels hold, if they do we might get another short entry.
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  • #7,411
  • Dec 22, 2008 8:36am Dec 22, 2008 8:36am
We have reached the internal fib of the swing and I had a sell stop just above short fib of the swing when price was testing the pivot of the swing .
I am in the trade now currently 12 pips up , see what happens!!
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  • #7,412
  • Dec 22, 2008 8:47am Dec 22, 2008 8:47am
Quoting alex12
We have reached the internal fib of the swing and I had a sell stop just above short fib of the swing when price was testing the pivot of the swing .
I am in the trade now currently 12 pips up , see what happens!!
I think this one has been a bit riskier entry as my sell stop should probably been below the previous candle's low for the momentum to take me in the trade ,I will still keep it for now .
What do you think Sherm or you other guys??
  • #7,413
  • Dec 22, 2008 9:12am Dec 22, 2008 9:12am
I am still short and it looks a bit more encouraging now as we have got the inside bar pattern too
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  • #7,414
  • Dec 22, 2008 9:20am Dec 22, 2008 9:20am
As I am up nearly 60 pips and I do not want to risk much in this trade I move my stop loss to break even so I am in a free trade now. See what happens
  • #7,415
  • Dec 22, 2008 9:32am Dec 22, 2008 9:32am
Quoting alex12
As I am up nearly 60 pips and I do not want to risk much in this trade I move my stop loss to break even so I am in a free trade now. See what happens
I closed the short trade with 60 pips profit as we are approaching the end of london session and I saw the price has started to retrace.
  • #7,416
  • Dec 22, 2008 10:34am Dec 22, 2008 10:34am
Quoting alex12
I closed the short trade with 60 pips profit as we are approaching the end of london session and I saw the price has started to retrace.
Great work!
  • #7,417
  • Dec 22, 2008 11:10am Dec 22, 2008 11:10am
Quoting speedarad
Great work!
Thanks Speedard, I was supposed to go to my normal work today but I could not as I have got Flu .
I have been in bed all day and watching the screen and luckily got some set ups and got 260 pips in total for the day which has made me feel better too!!!
  • #7,418
  • Dec 22, 2008 12:52pm Dec 22, 2008 12:52pm
Quoting alex12
Thanks Speedard, I was supposed to go to my normal work today but I could not as I have got Flu .
I have been in bed all day and watching the screen and luckily got some set ups and got 260 pips in total for the day which has made me feel better too!!!
I hope you feel better!

Be cautious if you trade sick, sometimes you may not have the clear mind that you need to make the right decision.
  • #7,419
  • Dec 22, 2008 1:12pm Dec 22, 2008 1:12pm
Quoting speedarad
I hope you feel better!

Be cautious if you trade sick, sometimes you may not have the clear mind that you need to make the right decision.
Thanks.Sure,I will remember that.
  • #7,420
  • Dec 22, 2008 9:56pm Dec 22, 2008 9:56pm
My SELL limit on EJ...
Any advice?

Sonic
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