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Fibonacci Trading with Bobokus

  • #7,841
  • Mar 23, 2009 6:00am Mar 23, 2009 6:00am
Quoting speedarad
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 ?
No templates, imagine having to draw fibs with your stylus it takes absolutely forever, especially with limited view of actual candlesticks, its a horrible pain.

TheLegace.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #7,842
  • Mar 23, 2009 8:24pm Mar 23, 2009 8:24pm
I was able to catch the downtrend today netting a total of 87 pips from GU and EU, also I broke even as I had a bad morning, there was a 30pip loss and I was able to scrape a 30 pip gain. Not to bad of a day, I got busy so I didn't get a chance to catch the uptrend, but hey you can't win em all.


TheLegace.
"If voting changed anything, they'd make it illegal" - Emma Goldman
  • #7,843
  • Mar 23, 2009 11:05pm Mar 23, 2009 11:05pm
HALLO LEGACE,GOOD TO SEE YOU ON HERE AGAIN.GREAT YOU MADE PIPS AGAIN YESTERDAY.I HAVE NOT BEEN TRADING THIS DAYS COS MY CONNECTION IS MESSY BUT I WILL BE FULLY BACK MY NEXT WEEK.

I AM THINKING CABLE AND EURUSD ARE STILL BULLISH, I AM SERIOUSLY IN THE BULL CAMP FOR THE 2 PAIRS...LETS JUST SEE WHAT TODAY HOLDS THEN, AS I AM TYPING,THE HIGH OF YESTERDAY HAS BEEN BROKEN FOR CABLE SO LETS SEE WHAT THE REST OF THE DAY HOLDS.

i wish you many green pips today.
  • #7,844
  • Mar 26, 2009 2:11pm Mar 26, 2009 2:11pm
TheLegace, how to identify entry? Today I tryied twice(picture) and it was wrong. It came back and SL... Thanx.
Attached Image (click to enlarge)
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  • #7,845
  • Mar 26, 2009 6:32pm Mar 26, 2009 6:32pm
Euro was pretty much ranging all week so there is 2 options:
Trade between those levels on a scalp or wait for a breakout (recommended) of this range.
A short on a break of the intraday short is not a high probability trade because by this time it's a good chance the mkt. run out of steam.
Look at the white horizontal line (which correspond to the price),if you follow it to the left you can observe that is a level of support and resist. around that 1.3530 level , so mkt may react again at this level.
If you take a short at 1.3520 your SL should be around 1.3643(last highest level) and first target I would pick the intraday low from my chart but I don't like at all the risk/reward ratio here ,so another reason not to take the trade for me.
I also wouldn't look at any charts below 1hr. TF .There is enough false signals here , no need to get any lower than that.
Attached Image (click to enlarge)
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  • #7,846
  • Mar 26, 2009 8:04pm Mar 26, 2009 8:04pm
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
My EU viewpoint. 4 hr bullflag. Yesterday's high/low swing 618 held today. Looking for 3583 to fail in next euro session to confirm bullish outlook.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: mar 26 4 hr flag.jpg Size: 122 KB
Click to Enlarge Name: mar 26 30 min.jpg Size: 115 KB
"Wishful thinking dies hard." Igor T.
  • #7,847
  • Mar 27, 2009 4:06am Mar 27, 2009 4:06am
Quoting FxChi
My EU viewpoint. 4 hr bullflag. Yesterday's high/low swing 618 held today. Looking for 3583 to fail in next euro session to confirm bullish outlook.
Very solid analyse . Nothing need to be add it for now on EU.
Personally I won't totally eliminate the possibility of the mkt to drop lower before taking off.
  • #7,848
  • Mar 27, 2009 4:33am Mar 27, 2009 4:33am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Not taking break of the lows here. At 4 hr tl. Should provide a bounce (not to mention also at support). Looking for a short position at the 3550 region here. Looks like heading to lower part of channel, but I missed the short entry out of the DZ zone. Better to wait for pullback or miss the trade IMO.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: mar 27 30 min.jpg Size: 128 KB
Click to Enlarge Name: mar 27 4hr.jpg Size: 123 KB
"Wishful thinking dies hard." Igor T.
  • #7,849
  • Mar 27, 2009 5:39am Mar 27, 2009 5:39am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Intraday targets have been met and also made it to lower channel already without me. Now I'm thinking we head to upper part of channel. Need to see support hold though as it's in a strong downtrend and it's Friday. Looking for failure of 3504 for confirmation of that view, but I may take a long position earlier if I see support holding with proper PA. This is countertrend (but in trend with my general dollar view).
Attached Image(s) (click to enlarge)
Click to Enlarge Name: mar 27 4hr miss channel.jpg Size: 123 KB
Click to Enlarge Name: mar 27 30 min miss.jpg Size: 124 KB
"Wishful thinking dies hard." Igor T.
  • #7,850
  • Mar 27, 2009 6:56am Mar 27, 2009 6:56am
please, is it better to enter trade with using stops orders or do it manually... example today short... It was in day pivot area and than was the break. HWhen is the right point to enter... And SL?? Thanks
  • #7,851
  • Mar 27, 2009 2:13pm Mar 27, 2009 2:13pm
Now it is more clear.. But what is mkt? I now understand SL, but not entry... help...
  • #7,852
  • Mar 29, 2009 3:32am Mar 29, 2009 3:32am
Clean entry, the candle of entry is ONE HOUR candle??? Thanks... Btw, I am not komunist or socialist :-)



Quoting Bobokus
A clean break would be a candle opening outside of the highlighted trading zone.However there are gonna be times when price just starts to take off very quickly from a news event or soomething to that nature and youll have to make a judgement call then.The highlighted area is based off the Intraday fibs and where we want price to visit before entering..its not the only entry just the optimum. last night I enterd on the break of the high. When price does not retrace past the 23.6 its an indication that the current move still has alot of strength...
  • #7,853
  • Mar 29, 2009 6:09pm Mar 29, 2009 6:09pm
I use buy&sell stop order most of the time when I enter the mkt(this stands for market).
On the clean break Bobokus talks about is on 1hr.
Don't worry about where your coming from, nobody is thinking about you as a communist or anything like that on this thread.
  • #7,854
  • Mar 30, 2009 3:44pm Mar 30, 2009 3:44pm
Speedarad. Thank you. So I will try it... But for me, this method and "understanding" how mkt behaves is not clear yet.. need experience...
  • #7,855
  • Mar 30, 2009 4:31pm Mar 30, 2009 4:31pm
Everyone been envited to Skype public chat for Bobokus Fibonacci !!!
find: maxmoto11
  • #7,856
  • Mar 30, 2009 9:37pm Mar 30, 2009 9:37pm
Quoting maxmotorny
Everyone been envited to Skype public chat for Bobokus Fibonacci !!!
find: maxmoto11
At what time did the chat room most active?
  • #7,857
  • Mar 30, 2009 9:45pm Mar 30, 2009 9:45pm
I am open to talk about trading.

Skype: logiktrader
  • #7,858
  • Mar 31, 2009 5:45am Mar 31, 2009 5:45am
Is it right? I have stlill problems with define where to place "blue" fib for today. Which is right? I think that is more important fibo from yesterday rally down, but not sure... Should i place it like 24candles?? Or mor, to where yesterday rally has started to the bottom of it??? Thank you :-)
Attached Image (click to enlarge)
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  • #7,859
  • Mar 31, 2009 5:48am Mar 31, 2009 5:48am
Quoting Fana
Is it right? I have stlill problems with define where to place "blue" fib for today. Which is right? I think that is more important fibo from yesterday rally down, but not sure... Should i place it like 24candles?? Or mor, to where yesterday rally has started to the bottom of it??? Thank you :-)
When your looking at the market to be traded today you whant to keep up with the recent sentiment in the market ...so you dont want such a large fibb unless your trying to trade a longer time trade...
  • #7,860
  • Mar 31, 2009 5:52am Mar 31, 2009 5:52am
Shermenator, thank you... so 24candles on 1H is all right? Now i dont know exactly what to trade... what has priority...
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