This is the my chart, don't know if I draw it correctly. Yellow is the daily fibs and white is hourly fibs.
Where is the best entry (long or short)?
Ignored
Move your low (0.0) where your yellow line is.
Your in a strong uptrend right now.Those trades they have higher probability but you need to wait for a set up.You can eventually go short as well but be ready to take quik profits as the mkt could revese anytime and you going against the trend.
Move your low (0.0) where your yellow line is.
Your in a strong uptrend right now.Those trades they have higher probability but you need to wait for a set up.You can eventually go short as well but be ready to take quik profits as the mkt could revese anytime and you going against the trend.
Ignored
Thanks for the (0.0). I'd changed my fib setup (Bobo's youtube).
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Joined Jan 2008
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Status: Master of Kung Fu Grip
|281 Posts
Allrighty my GU trade has gone up about 42 pips, so it looks like that trade is going well, and my EU is down about 15 pips, I think market will move up either way. Something important is happening today, the downtrend for GU is changing to uptrend because with my linear regression channels show that GU is breaking channel and starting a new trend. Here is my setup.
Attached Image (click to enlarge)
"If voting changed anything, they'd make it illegal" - Emma Goldman
Here are my chart setups for EU and GU thats all I am looking at at the moment.
Ignored
You have improved alot in your fibbs...I would have them a bitt differnent but aslong as they work for you thats what matters...on the LRC you always whant them showing the future and you dont whant the last point to be with the last candle...I will put some charts in a bitt
Hi Legace,
thanks for Your charts.
I have quick questions:
EUR/USD
Isnt downmove for more than 3500 pips too big to measure it ?
You have Your intraday on NOT Intraday but on swing - why so ?
Thanks.
Tom
Ignored
I know it was a swing, but just got a bit lazy and didn't want to use Swing fib I had lost somewhere, either way in my head I know the representation of the movement.
As for down moves, are you speaking about my weekly chart, which fib exactly they are labelled. I don't think a 3500 pip is to large, fibs work in all time frames, now matter how large the movement and all they do is show support/resistance levels at these points.
Hope that helps.
My trades are starting to go well now. My EU is up 27 pips and GU is up 76 pips with total of 105 pips so far, looks like the uptrend is continuing. So not another bad day today. Now so far the only weakness I have found in my trading is that my target profits, but based on price action looks like this trade is gonna go much further...well lets just hope, as soon as market slows down I am going to close. I am happy with a 100 pips for the day, that is usually my goal anyway.
Note: My GU trade just closed by itself, well its ok it was a 100 pip trade so no matter, my EU is up about 60 pips. Lets just see where that trade goes.
TheLegace.
"If voting changed anything, they'd make it illegal" - Emma Goldman
You have improved alot in your fibbs...I would have them a bitt differnent but aslong as they work for you thats what matters...on the LRC you always whant them showing the future and you dont whant the last point to be with the last candle...I will put some charts in a bitt
Ignored
Glad your back Sherm, actually I am not exactly sure if my charts are right, I am just getting back into the game so I am probably a bit bad at the setups, I am going to watch bos videos on fib setups again, but for this week its been working well, but I will improve. I was just a bit hesitant on posting my charts, but since nobodys around and I am profiting, I figured I was doing something right.
Thanx Though, glad your back.
TheLegace.
PS. For the LRC I was just about to change channel for the uptrend, just a bit rusty with the tool so I didn't see the major uptrend till now. Thanx for advice.
"If voting changed anything, they'd make it illegal" - Emma Goldman
...on the LRC you always whant them showing the future and you dont whant the last point to be with the last candle..
Can You please show example with this ?
Thank You.
And.. what is LRC ?
Best,
Tom
Ignored
LRC Refers to a linear regression channel, its pretty straight forward, there is a PDF on it if you check attachments and hide attached images you can find the pdf on linear regression channels, all they do is tunnel the trend and describes the future path that the trend can make.
It's usefull when trying to see how strong the trend is going to be, thats what I think.
TheLegace.
"If voting changed anything, they'd make it illegal" - Emma Goldman
Here are my chart setups for EU and GU thats all I am looking at at the moment.
Ignored
Great work with the charts Legace.My fibs are a little different but if you find your way to trade profitable (and looks that you do) keep doing it !
I have a question thou. Are you able to go mobile with this charts?
I remember you where mobile in the past.
Great work with the charts Legace.My fibs are a little different but if you find your way to trade profitable (and looks that you do) keep doing it !
I have a question thou. Are you able to go mobile with this charts?
I remember you where mobile in the past.
Ignored
Yes I am going to setup mobile this week, didn't expect fibonacci to go so well. It's just it will take hours beyond hours to get the setup I had a couple months ago, thats the one drawback to phone, atleast if I wanted to have setups on different computers all I would have to do is copy over profiles and tempaltes, wish It was possible with my phone. I also just got my 3 batteries for my phone, because trading drains the batteries on my phone horribly.
TheLegace.
"If voting changed anything, they'd make it illegal" - Emma Goldman
Yes I am going to setup mobile this week, didn't expect fibonacci to go so well. It's just it will take hours beyond hours to get the setup I had a couple months ago, thats the one drawback to phone, atleast if I wanted to have setups on different computers all I would have to do is copy over profiles and tempaltes, wish It was possible with my phone. I also just got my 3 batteries for my phone, because trading drains the batteries on my phone horribly.
TheLegace.
Ignored
If you have touch pad on your phone can you use templates?
What about those smart phones with the touch screen or G 1 s ?
Fibonacci Trading with Bobokus
