Attachments: Fibonacci Trading with Bobokus

Fibonacci Trading with Bobokus

#7,941
May 29, 2009 5:12am May 29, 2009 5:12am

speedarad
| Joined Jul 2008 | Status: THANK YOU BOBOKUS | 449 Posts

Quoting rem

Disliked

Hi,

do you know any site with fibo retracement statistics ( or do you have such a statistics or any tool to do it) ?

I need such an information:
Currency : XXXYYY
In the period of ...
price retraced at fibo 38% level in ...% of cases;
price retraced at fibo 50% level in ...% of cases;
etc.

Thanks in advance
Regards
Rem

Ignored

Actually I find more relevant if the price travels anywhere bet.38% and 61.8% and after hits an extension level like the JPY which just did that.Post 665 ,way back on the thread has a pdf file with a small study on that.
Unfortunelly I don't know any websites but for me it's not important if price travel to 38 or 61.8.

Attached Image (click to enlarge)

Click to Enlarge

Name: jpy.jpg
Size: 121 KB

#7,942
May 29, 2009 7:22am May 29, 2009 7:22am

sachin_syd
| Joined Apr 2008 | Status: Trader | 71 Posts

Hi Guys look at Fibo of Crude oIl . It seems it has topeed for now

Attached Image (click to enlarge)

Click to Enlarge

Name: c.gif
Size: 39 KB

#7,943
May 29, 2009 7:41am May 29, 2009 7:41am

FxChi
| Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts

Quoting sachin_syd

Disliked

Hi Guys look at Fibo of Crude oIl . It seems it has topeed for now

Ignored

Ehhh, I think it's hitting 72 before serious sellers hit it. One of the reasons I'm bearish on USD/CAD.

Attached Image (click to enlarge)

Click to Enlarge

Name: may 29 daily.jpg
Size: 126 KB

"Wishful thinking dies hard." Igor T.

#7,944
May 29, 2009 7:49am May 29, 2009 7:49am

FxChi
| Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts

Here's the USD/CAD. I missed the entry. There was a nice triangle breakout and I was looking for a retrace to get in, after the fib lows were broken. Darn thing is flying through intraday targets right now...lol.

CAD/JPY is another pair I'm checking out based on what I perceive CAD strength due to Oil correlation up until it reaches my target of 72.

EDIT - Look at the oil chart and all the basing that happened. That's not going to turn at the drop of a dime. Also there's a bull flag breakout too. All very bullish IMO.

Attached Image (click to enlarge)

Click to Enlarge

Name: may 29 sell.jpg
Size: 126 KB

"Wishful thinking dies hard." Igor T.

#7,945
May 29, 2009 7:54am May 29, 2009 7:54am

Shermenator
Joined Jan 2008 | Status: Trader | 2,996 Posts

Looking to sell the audusd but price action is starting to get a bitt shacky in this timeframe showing me alot of buying pressure , so most likely I will back off and seek the higher timeframes if we start lossing clearity.

Attached Image (click to enlarge)

Click to Enlarge

Name: audusd.gif
Size: 35 KB

#7,946
May 29, 2009 7:57am May 29, 2009 7:57am

FxChi
| Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts

Quoting Shermenator

Disliked

Looking to sell the audusd but price action is starting to get a bitt shacky in this timeframe showing me alot of buying pressure , so most likely I will back off and seek the higher timeframes if we start lossing clearity.

Attachment

Ignored

You're braver than I Sherm. LOL. I see the resistance too, but afraid to pull the trigger on it. At solid res with fib 50 number too, but not my style too much these days. Good luck bud.

"Wishful thinking dies hard." Igor T.

#7,947
May 29, 2009 8:05am May 29, 2009 8:05am

Shermenator
Joined Jan 2008 | Status: Trader | 2,996 Posts

Quoting FxChi

Disliked

You're braver than I Sherm. LOL. I see the resistance too, but afraid to pull the trigger on it. At solid res with fib 50 number too, but not my style too much these days. Good luck bud.

Ignored

lol yea I have just cancelled my short due to the price action I am getting...I will now wait for the market from higher timeframes but since its friday I will most likely call it a day...

Attached Image (click to enlarge)

#7,948
May 29, 2009 8:08am May 29, 2009 8:08am

sachin_syd
| Joined Apr 2008 | Status: Trader | 71 Posts

Quoting FxChi

Disliked

Ehhh, I think it's hitting 72 before serious sellers hit it. One of the reasons I'm bearish on USD/CAD.

Ignored

I agree with u in the medium term , but in the immediate short term say 1 week i guess a move down is overdue

#7,949
May 29, 2009 8:11am May 29, 2009 8:11am

FxChi
| Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts

Quoting Shermenator

Disliked

lol yea I have just cancelled my short due to the price action I am getting...I will now wait for the market from higher timeframes but since its friday I will most likely call it a day...

Attachment

Ignored

Yeah Gold broke resistance @ 960, so preferring buy set-ups. Aussie also had a ton of basing too that you can see on the daily, so that should carry it up a bit farther. Although, I think Gold might be a bubble. I'm leaning towards CAD continued long term strength, but I could be mistaken.

"Wishful thinking dies hard." Igor T.

#7,950
May 29, 2009 8:22am May 29, 2009 8:22am

FxChi
| Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts

Quoting sachin_syd

Disliked

I agree with u in the medium term , but in the immediate short term say 1 week i guess a move down is overdue

Ignored

You could be right. Personally I'd need to see a daily close below 62 to even consider thinking it's turning. But I'm no expert so trade your charts. Good luck!

"Wishful thinking dies hard." Igor T.

#7,951
Jun 1, 2009 6:00pm Jun 1, 2009 6:00pm

TheLegace
| Joined Jan 2008 | Status: Master of Kung Fu Grip | 281 Posts

Well my exams are over and I can finally start trading again. This happened last term as well, and I wasn't able to do forex. But I am back for the summer and hopefully with will stay that way, as long as I get into habit. Now I am totally out of forex and have a no clue about how fibs work....

Makes me really sad, I hope you guys can help me get back on track. I have to start reading the old posts from this thread so I can figure how to use fibs well.

Thanx a lot Guys, will be looking forward for your adivce.

TheLegace.

"If voting changed anything, they'd make it illegal" - Emma Goldman

#7,952
Jun 2, 2009 2:08am Jun 2, 2009 2:08am

islandtrader
| Joined Apr 2006 | Status: Trader | 306 Posts

swing fib and right shoulder resistance...
break down occurred, didn't take it due to ranging beforehand
and still too early 2 hours before Frankfurt open

Attached Image

#7,953
Jun 2, 2009 2:56am Jun 2, 2009 2:56am

islandtrader
| Joined Apr 2006 | Status: Trader | 306 Posts

watching blue area for a bounce

Attached Image

#7,954
Jun 2, 2009 3:20am Jun 2, 2009 3:20am

Islander
Joined Jan 2007 | Status: Trader | 11,838 Posts

Quoting islandtrader

Disliked

watching blue area for a bounce

Ignored

IMO that's a long way down anf thus could be some time before becoming active....I've started with using yesterday's ultra wide range of 334 pips.

IF cable breaks down through the Decision Zone - i.e. < the 61.8 level, then I'll pull a fibo from a lower level.

So far, the 4 hour and daily trends are both still up, with the hourly just rolling over....Time Will Tell.....http://www.forexfactory.com/images/icons/icon7.gif

Trading Levels with WRBs

#7,955
Jun 2, 2009 3:22am Jun 2, 2009 3:22am

Islander
Joined Jan 2007 | Status: Trader | 11,838 Posts

Whoops, I forgot to add my chart.....

Attached Image (click to enlarge)

Click to Enlarge

Name: jne 2 cable 60m 0920.gif
Size: 16 KB

Trading Levels with WRBs

#7,956
Jun 2, 2009 3:25am Jun 2, 2009 3:25am

islandtrader
| Joined Apr 2006 | Status: Trader | 306 Posts

Quoting Islander

Disliked

IMO that's a long way down anf thus could be some time before becoming active....I've started with using yesterday's ultra wide range of 334 pips.

IF cable breaks down through the Decision Zone - i.e. < the 61.8 level, then I'll pull a fibo from a lower level.

So far, the 4 hour and daily trends are both still up, with the hourly just rolling over....Time Will Tell.....http://www.forexfactory.com/images/icons/icon7.gif

Ignored

I totally agree, I also look for opportunities in between, but nothing obvious for now...

#7,957
Jun 2, 2009 3:25am Jun 2, 2009 3:25am

Shermenator
Joined Jan 2008 | Status: Trader | 2,996 Posts

Quoting Islander

Disliked

Whoops, I forgot to add my chart.....

Ignored

Yep I am looking for longs of this puppy but I know since close to yesterdays hold we have been swinging down so I will buy the dip of support proves itself like its doing at the moment by leaving long wicks at the bottom but today might be a day I might have to do some stop and reverse..

Attached Image (click to enlarge)