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Fibonacci Trading with Bobokus

  • #7,701
  • Feb 12, 2009 5:14am Feb 12, 2009 5:14am
Quoting Mini J
Hi Aad,
Is my Intraday Fib correct?
Your set up is correct ,you probably know this by now but I just want to point something out based on Bo's teachings.T1 has been met and a retracement occur so I updated the fibs to the new low and waiting for the next opportunity.
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  • #7,702
  • Feb 12, 2009 6:44pm Feb 12, 2009 6:44pm
Thanks Speedarad,
This is my setup..The price have already break the Intraday resistance level.How will you deal with it? Do you wait for the price to go down to test the Intraday Fib and take a Long from the bounce?
Does a broken resistance level change to support level for the current price?
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  • #7,703
  • Feb 13, 2009 12:27am Feb 13, 2009 12:27am
Quoting Mini J
Thanks Speedarad,
This is my setup..The price have already break the Intraday resistance level.How will you deal with it? Do you wait for the price to go down to test the Intraday Fib and take a Long from the bounce?
Does a broken resistance level change to support level for the current price?
Me, I passed on this trade because ,simply the time of the day,but to be honest ,I was very attempted to take it.
The thing is ,different situations required different approach. In this case ,I would follow the price with a swing fib on the last uptrend move and a bounce from this levels correlated with an open candle above intraday long could trigger an long entry.If it's just an minor retracement with no test of the inner levels than I go for the break of the high.But it's also very important to be aware of what is on top of you!I'm talking about major resistance levels from higher TFs .The way that everything enfold up to this point make me to pass on long trades for now!
  • #7,704
  • Feb 13, 2009 12:42am Feb 13, 2009 12:42am
I took this short scalp (Shermenator style) I'm already out of it with about 25 pips.Depending on how this candle close I may scalp now to the upside but I won't be surprised to see another bounce and start going south again.
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  • #7,705
  • Feb 13, 2009 12:49am Feb 13, 2009 12:49am
Quoting speedarad
Me, I passed on this trade because ,simply the time of the day,but to be honest ,I was very attempted to take it.
The thing is ,different situations required different approach. In this case ,I would follow the price with a swing fib on the last uptrend move and a bounce from this levels correlated with an open candle above intraday long could trigger an long entry.If it's just an minor retracement with no test of the inner levels than I go for the break of the high.But it's also very important to be aware of what is on top of you!I'm talking about...

Take a look at this 4hr. chart.This is the resistance levels that I'm talking about.It's possible to see a bounce at one of this levels.
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Click to Enlarge Name: speed gu4h feb 13.jpg Size: 119 KB
  • #7,706
  • Edited 8:46am Feb 13, 2009 7:39am | Edited 8:46am
looking at FIB RET on 60 min chart for the cable from 2/9 - 2/12 with the near term move starting on 2/12 - 2/13 we can see the break of the trend on the extension above the 25% retracement level price then tested the 50% level on increased price action we have pulled back and is now hammering out support at the 25% level as this sets up, continue to watch the DOW for any increases in volume as traders may look to take up additional risk at these lower levels and increase the probability of a dollar sell off. as you can see form the chart i am currently in this position from 1.4390 and up over 70 pips on the positon, i will be adjusting stops securing some profit on the trade as it is now begining to test the 38% FIB RET...
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Trade smarter not harder.
  • #7,707
  • Feb 13, 2009 12:51pm Feb 13, 2009 12:51pm
I went long GU off the daily at 4414
  • #7,708
  • Feb 13, 2009 4:11pm Feb 13, 2009 4:11pm
Quoting Mini J
Hi Aad,
Is my Intraday Fib correct?
Sorry I did not respond earlier, I don't normally check the site everyday (sometimes I may not check it for weeks). But it's nice that Speedarad was able to respond to your concerns...
  • #7,709
  • Feb 14, 2009 9:02pm Feb 14, 2009 9:02pm
Quoting Mini J
Hi Aad,
Is my Intraday Fib correct?
Hi all,

i am searching for this fibo indicator, may i know where can i download this?
  • #7,710
  • Feb 15, 2009 4:12am Feb 15, 2009 4:12am
Toool - Fibonacci {by Bobokus method}, Indicator is Your mind.
  • #7,711
  • Feb 15, 2009 4:17am Feb 15, 2009 4:17am
hye everyone,can u help me,any1?
where can i get the latest fib tool template of bobokus?
thanks.
  • #7,712
  • Feb 15, 2009 6:03am Feb 15, 2009 6:03am
Quoting fxykl
Hi all,

i am searching for this fibo indicator, may i know where can i download this?
you don't need to download it, just look for high and low of the previous day and manually draw the retracement.
  • #7,713
  • Feb 15, 2009 2:33pm Feb 15, 2009 2:33pm
Quoting Eclipse
you don't need to download it, just look for high and low of the previous day and manually draw the retracement.
Thanks for ur reply. i thought there is a automated indicator for this..
  • #7,714
  • Feb 15, 2009 2:44pm Feb 15, 2009 2:44pm
Quoting fxykl
Thanks for ur reply. i thought there is a automated indicator for this..
here is an template with all the fibs we use .
Open an Daily GBP/USD you have all of them.
Attached File(s)
File Type: tpl bo.tpl   7 KB | 769 downloads
  • #7,715
  • Feb 15, 2009 6:47pm Feb 15, 2009 6:47pm
Quoting Aad
Sorry I did not respond earlier, I don't normally check the site everyday (sometimes I may not check it for weeks). But it's nice that Speedarad was able to respond to your concerns...
Never mind Aad..
Speedarad, How will you deal with a gap like this? Is the setup correct?
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  • #7,716
  • Feb 16, 2009 2:11am Feb 16, 2009 2:11am
Quoting Mini J
Never mind Aad..
Speedarad, How will you deal with a gap like this? Is the setup correct?
A gap is nothing else then missing data.Mkt. actually opens at 3 pm eastern time ,is just that US brokers start at 6 pm.You just wait for the high and low to be establish.The way you applied your fib. is correct.You have an retracement (even is tiny).If the mkt. keeps dropping ,you keep pulling the fib to the new low until you get an retracement.
And don't forget the fibs on higher TFs ! They are very important.
  • #7,717
  • Feb 16, 2009 7:21pm Feb 16, 2009 7:21pm
Quoting speedarad
A gap is nothing else then missing data.Mkt. actually opens at 3 pm eastern time ,is just that US brokers start at 6 pm.You just wait for the high and low to be establish.The way you applied your fib. is correct.You have an retracement (even is tiny).If the mkt. keeps dropping ,you keep pulling the fib to the new low until you get an retracement.
And don't forget the fibs on higher TFs ! They are very important.
Do you take a short at the break of the low?
  • #7,718
  • Feb 17, 2009 2:43am Feb 17, 2009 2:43am
Quoting Mini J
Do you take a short at the break of the low?
it depends ,but in this case it's all about where the break out candle close ,how big is the wig,where is the next support area.Consider all this I would probably say no on this one ,but generally I would say yes.
But here is what I would do if I would follow this trade:After the first down wave,we have an retracement.I would enter below of the first candle wich close below intraday low (see red line with entry level).Candle I enter is with green arrow.I would take partial profits @ 1.4150 level,let the rest run.Mkt.would take me out around 1.4175 where I would reverse and go long back to intraday levels.Logic behind this is the reversal formation at intraday low level + the support of the low of the green fib.
Attached Image (click to enlarge)
Click to Enlarge Name: speed gu4h feb 16.jpg Size: 121 KB
  • #7,719
  • Feb 17, 2009 5:51am Feb 17, 2009 5:51am
Quoting speedarad
here is an template with all the fibs we use .
Open an Daily GBP/USD you have all of them.
thanks for your post.
  • #7,720
  • Feb 17, 2009 6:19pm Feb 17, 2009 6:19pm
Quoting speedarad
it depends ,but in this case it's all about where the break out candle close ,how big is the wig,where is the next support area.Consider all this I would probably say no on this one ,but generally I would say yes.
But here is what I would do if I would follow this trade:After the first down wave,we have an retracement.I would enter below of the first candle wich close below intraday low (see red line with entry level).Candle I enter is with green arrow.I would take partial profits @ 1.4150 level,let the rest run.Mkt.would take me out around 1.4175...
So, the entry was the break of previous candle's low, not at the opening, right?
Can you show your High/Low of your green resistance fib?
Thanks
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