Fibonacci Trading with Bobokus

Unfortunately I was short, but closed with loss just before price really moved, it was a stupid move on my part, just didn't let my Stop and Reverse do the work instead I closed, mistake that cost quite a few pips, considering the movement that happened today..Well you live you learn.

TheLegace.

Up 10 pips on stop and reverse. Looking good Billy Ray Valentine !

Stopped out for 13 pips.

Going down and up 5 pips

Going down like the Titanic hitting the berg

Eveybody to the life boats now!!! I've got mine.

Still going down

Stopped out with 35 pips

I was able to catch 35 pips in UJ...while sleeping, wow its funny I played exact same move, price got stopped and reversed and I went into the short. Wow exactly the same move...Maybe I am doing it right now....


TheLegace.

My long on GU and EU are showing teensy bits of profits, I expect for support levels to hold and price to move up. For EU an GU they are being rejected at same levels as a couple days ago and shaping up looking like a double bottom.


TheLegace.

Here is my projection of now...

Low on weekly chart coming from 2000.10.01

All other fibs is normally to see.


Best,
Tom

tfflyer : I have the same imagination for today... I did it earlier, before you gave here your projection... But i dont know what to do wit it right now...

Hi Fana,

On picture 1.

From swing fib we can see price reacts at T1/T2 and also this is intraday high - those levels hold as quite strong resistance.

On picture 2.
I would like to wait now and see what price will do at swing levels.. will it hold and from there decide to take trade or not...

If swing fib will not hold i will wait to see if Intraday swing can hold levels.. Perhaps no trade will be today..

But let the price ride its way.

Best, Tom

Thank you Tom, I understand it now better, i think:-)

No problem, just ask if You have questions.. i am also learning, so, perhaps, Your questions will make to think me more what i havent think yet..

Keep fishing



Best,
Tom

Taken a short on EU, and theres a sell stop waiting for GU at 1.4648, so far the price has broken major support level after being rejected by a even bigger resistance level, hope todays trade will be a good one.

Yesterdays trade ended in profit unfortunately I closed a bit early because of a spike in price, should held in there and follow system, that kind of mistake means atleast 30-40 pip difference in a trade. But I ended with about 30-40 pips so I didn't have to loose too much.


Good Luck Guys.

TheLegace. Can you place here picture? Thanks

My trades just hit their stop loss, shame this trade went against me, I guess it's allright it was about 4pip loss for GU. I am still holding my short on EU until it hits stop loss at 3283, well, its ok with news coming out its better I stay out of the market, until later, but at least there will be a decent price movement later. I am just glad I got into trade early and was able to get out with minimal loss just a bit after trades gone sour. This is EU I am watching.

EDIT: Allright my EU trade has hit stop loss. I am staying out of market till 8:30 it is just ranging to much, my lesson for today is that never expect ranging market to be over, unless its obviously over, I should have closed my trade when I had about 30-40 pips of profit, I just thought price was gonna move, but it didn't. So my setup was fine in ranging price action, but shoulda just closed my trade.

Helou,

Picture 1
I have entered long on first bounce candle after price bounced from intraday fibs.. Yet keeping this one, but not getting confident on this trade...

Picture 2
Will folow with swing for stop loss.

If price will close above picture 2 swing fib - this will give me some confident for keeping in this trade..

Best,
Tom