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Fibonacci Trading with Bobokus

  • #8,021
  • Jul 7, 2009 1:57am Jul 7, 2009 1:57am
I'm fine. Thanks for asking.

So where is the crowd (if there still is one) gathered these days?
  • #8,022
  • Jul 9, 2009 5:18am Jul 9, 2009 5:18am
Quoting southernmind
I'm fine. Thanks for asking.

So where is the crowd (if there still is one) gathered these days?

We are all in vacation ,spending the money we made, after learning to trade Bo's style!
  • #8,023
  • Jul 18, 2009 2:57pm Jul 18, 2009 2:57pm
Shermenator：
Haha, My friends.
I came back. i am still trading using the fibs.
I need time ,I need money, I need more patience
  • #8,024
  • Jul 19, 2009 8:59pm Jul 19, 2009 8:59pm
G/U is been ranging since beginning of June giving only small trades (scalps).
Attached Image(s) (click to enlarge)
Click to Enlarge Name: day gbp1.jpg Size: 116 KB
Click to Enlarge Name: day gbp2.jpg Size: 106 KB
  • #8,025
  • Jul 19, 2009 9:08pm Jul 19, 2009 9:08pm
First signs of a movement will see on the 1hr. chart if we manage to reach one of the fibs extensions(T1) on either side.
For now we didn't have any kind of progress since last Tuesday.
So ,scalping a few pips here and there with the help of swing fib is all that can be done until mkkt. starts to develop a new trend.
Attached Image (click to enlarge)
Click to Enlarge Name: 1hr gbp2.jpg Size: 116 KB
  • #8,026
  • Jul 20, 2009 6:51am Jul 20, 2009 6:51am
Nice move UP on GU.

Lets wait for next moove.

B,
Tom
  • #8,027
  • Jul 20, 2009 11:19am Jul 20, 2009 11:19am
Quoting tfflyer
Nice move UP on GU.

Lets wait for next moove.

B,
Tom
Just watch out that if you keep on buying high to sell high they are going to get you...good luck
  • #8,028
  • Jul 20, 2009 9:39pm Jul 20, 2009 9:39pm
We hit the extension(T1).Now let's see if the move continues .I would like to see first a rejection from the highlighted area(buy the dips).Shorts are scalps for now unless we have a close below 1.6373. We have a double top on the high of today so if we manage to get up there again that level should be watch closely.
It is potential for the move to continue, the next significant resistance would be around 1.6742 which is the previous high on the daily chart.
Tomorrow could be pretty interesting day.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1hr gbp3.jpg Size: 103 KB
Click to Enlarge Name: day gbp speed.jpg Size: 107 KB
  • #8,029
  • Edited Aug 1, 2009 7:07am Jul 31, 2009 8:37pm | Edited Aug 1, 2009 7:07am
Quoting TheLegace
I have a made a long on GU, so far up 10 pips, looks like an amazing trade if it makes it to T1 targets.

Here is setup.
Hope its good, let me know what you guys think.

TheLegace.
Can't find out the indicator for the fibos you guys are using. I've tried many of the attachments. Can you please repost it?

Thank you.
"Hate the sin, love the sinner." - Gandhi
  • #8,030
  • Aug 1, 2009 7:29am Aug 1, 2009 7:29am
Is not an indicator.There just the fibs with different terminology.
You can do it manually yourself.
Open the default fib.( you need to have a MT4 platform BTW) open fib default. click on the fib (you should see three points on the fib ) and then right click on any of this points and an menu will open.
go to fibo properties and to fibo levels.
Double click on description and then just type down the new terminology(ex. DownTrend Short %$).
Down in the same box U can change the color.
On the first page of the thread, there are a bunch of videos and one of them show how you can to this.
Other way is to look at attachments and get an old template.For some reason I can't upload a new template.
Attached Image (click to enlarge)
Click to Enlarge Name: fib set up1.gif Size: 31 KB
  • #8,031
  • Aug 2, 2009 5:39am Aug 2, 2009 5:39am
Quoting Bobokus
I would like to open a thread to discuss trading based on fibonacci, I know there are alot of traders out there including myself who trade with nothing but Fibs and I would like to share, along with gain some knowledge with other Fib traders. I have tried numerous methods but about a year or so ago I started looking more and more at fibs and began to see the repetitive nature and how price reacted to them. I have become pretty successful with Fibs now and think I can give something back, because I remember how hard it was to get started trading...

Hi All,

Can someone, please help me out, when I applied the template on the 1st page to the weekly chart I can see all the various fib tools, however when I switch to the 1hr chart they disappear.

Can anyone help out here, or can I find the tools elsewhere
  • #8,032
  • Aug 2, 2009 7:58am Aug 2, 2009 7:58am
Quoting hutchy
Hi All,

Can someone, please help me out, when I applied the template on the 1st page to the weekly chart I can see all the various fib tools, however when I switch to the 1hr chart they disappear.

Can anyone help out here, or can I find the tools elsewhere
First you should try a more recent template( check post #7622).
Since the first page some of the terminology has change.
Make sure you apply the right template to the right pair.Start with the higher TF (weekly) and scroll down(daily,4hr,1hr)If you switch from weekly to 1 hr you probably not gonna find the fibs.You need to move the fibs as close as possible to the price every time you switch to a lower TF.If you still don't find them(ex.4hr. to 1hr) zoom out as much is need it.Also on your platform on the menu bar, click charts and then click objects and than objects list.You should have a list with all the objects on your chart.Check the fib you want and then click on "show" and that will move the chart to where that particular fib you highlighted is.
Hope this helps.
  • #8,033
  • Aug 2, 2009 12:15pm Aug 2, 2009 12:15pm
Quoting speedarad
here is an template with all the fibs we use .
Open an Daily GBP/USD you have all of them.

Speedarad,

I have downloaded various versions of the template and when I start at the weekly and then open the daily, hourly I cant find the fibo tools anywhere.

Pls can you help me with this?

Much appreciated
  • #8,034
  • Aug 2, 2009 12:16pm Aug 2, 2009 12:16pm
Quoting speedarad
First you should try a more recent template( check post #7622).
Since the first page some of the terminology has change.
Make sure you apply the right template to the right pair.Start with the higher TF (weekly) and scroll down(daily,4hr,1hr)If you switch from weekly to 1 hr you probably not gonna find the fibs.You need to move the fibs as close as possible to the price every time you switch to a lower TF.If you still don't find them(ex.4hr. to 1hr) zoom out...

Sorry never saw your reply before sending the one down below again.

Cheers again
  • #8,035
  • Aug 2, 2009 12:34pm Aug 2, 2009 12:34pm
Quoting speedarad
First you should try a more recent template( check post #7622).
Since the first page some of the terminology has change.
Make sure you apply the right template to the right pair.Start with the higher TF (weekly) and scroll down(daily,4hr,1hr)If you switch from weekly to 1 hr you probably not gonna find the fibs.You need to move the fibs as close as possible to the price every time you switch to a lower TF.If you still don't find them(ex.4hr. to 1hr) zoom out...
speedarad

i saw somewhere in the post where you had showed how you place all these various fibo tools on the differnt timeframes.

do you recall the post # again
  • #8,036
  • Aug 2, 2009 2:41pm Aug 2, 2009 2:41pm
We start with the long term view ( weekly in this case), because we have a large down move here.On chart 1, we can see that mkt.is trading @ the pivot (down trend pivot).Idea here is to see if the mkt will react to this levels or not.If let's say will get a rejection here mkt. will resume it's move down.On chart 2 we have apply the up trend fib to measure the up move.As long mkt makes new highs we will keep pulling this fib to the new high.This up trend fib will start having his purpose in the event that mkt. starts moving down.We like to see if mkt. will react to the inner levels (38.2;50;61.8) or not.
Bobokus use to say "Fib levels either holds or not".
At this level you should look at the potential resistance(or support where is the case) levels more like a zone where price could react.Mkt. wont make it to the pip specially on a high TF
Attached Image(s) (click to enlarge)
Click to Enlarge Name: weekly1.gif Size: 44 KB
Click to Enlarge Name: weekly2.gif Size: 44 KB
  • #8,037
  • Aug 2, 2009 2:51pm Aug 2, 2009 2:51pm
Here is the view from the Daily. of those fibs.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: daily gu.gif Size: 31 KB
Click to Enlarge Name: daily gu 2.gif Size: 46 KB
  • #8,038
  • Aug 2, 2009 4:17pm Aug 2, 2009 4:17pm
Now we go down to the 4 hr. chart.
Here is matter of preference.You can use either the support fib to measure the last wave or the purple (retracement fib) and you measure this entire up move from the 4hr point of view.I would go more with the support fib in this case for now.I like to see some retracement to this last wave up and if that's happening then I want to see where is the immediate potential of support and if we get any reaction at this levels or not.
Attached Image (click to enlarge)
Click to Enlarge Name: 4hr gu.gif Size: 55 KB
  • #8,039
  • Aug 2, 2009 4:27pm Aug 2, 2009 4:27pm
And this will bring us to the 1hr. chart where we make the decisions.
We have a very strong up move which actually start thursday with almost no retracement so far.This move has to get some pull back at some point.If you decide to trade short keep in mind you're trading against a very strong trend.Longs are the trades what I'm looking for after I see some sort of retracement. I like to see if support inner levels get tested in the London session eventually
Attached Image (click to enlarge)
Click to Enlarge Name: 1hr. deceision.gif Size: 39 KB
  • #8,040
  • Aug 2, 2009 5:38pm Aug 2, 2009 5:38pm
Quoting speedarad
Is not an indicator.There just the fibs with different terminology.
You can do it manually yourself.
Open the default fib.( you need to have a MT4 platform BTW) open fib default. click on the fib (you should see three points on the fib ) and then right click on any of this points and an menu will open.
go to fibo properties and to fibo levels.
Double click on description and then just type down the new terminology(ex. DownTrend Short %$).
Down in the same box U can change the color.
On the first page of the thread, there are a bunch of videos...
Thanks mate, appreciate it. I just could not understand where the names were coming from
"Hate the sin, love the sinner." - Gandhi
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