Fibonacci Trading with Bobokus

Thanks Sherminator. Good advice and perspective. Do you use any other indicators to trade with Fibonacci? Sometimes trading Forex seems like nailing Jello to a tree. Very slippery. I do find it amazing how many fibs can be pulled, and deciding to take action or not I guess requires experience. You mentioned price action, and I think you are right. What do use to determine price action? Volume, candle size, candle patterns or all of above. As for time frames, how would daily and 30 minutes work out? Also is there a decent way (indicator) to determine early when entering a ranging market other than watching? I have entered into trades in London market and experienced the market starting to range, which is frustrating. I assume this method works better on a trending market. I know that is a lot of questions, but hey, a newbie here.

Thanks
JDub

I was using fibonacci ICWR system and now still using fib but with Phil Newton strategy trading.

Just shorted the AUDUSD...will be looking if the overall down pressure from the past couple of weeks will kick back in. Or if the new higher highs are the new trend . The only way to find out is to be in the market. If I am wrong I will most likely just stop and reverse. For now I will simply watch price action. Keeping my risk small and my reward is the key thing . As the trade develops I will adjust my stops.

Your not waiting for a sign of weakness before shorting?. Stop price?. I'll be shorting off the 1hr.

Seems like a reasonable short-

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Trading is mostly not trading I find-
Waiting for the right set-up which seems to be a breakout on the 15 minute charts for currencies- to suit my tastes-

Have a hard time waiting for it to happen however- I am always jumping into a trade and getting caught on the wrong side-

Am long Gold at the moment- may just wait that one out for a couple of weeks-

I think I need to trade at different times - like 8 am and the last two hours of the DOW-

Cheers to all-

looks like we hit 8920 soon. Nice resistance point.

The EURJPY is trying to break 123.80 the .80 levels seem to be significant for that currency pair-

Short 8889. 8924 stop.

got stopped at b/e. Man this thing just keeps wanting to go higher. Shermen you still in?

Yep if it goes up and takes me out its part of the game. Odds are I will stop and reverse if it does.

Alright the AUDUSD is now making the push down I have been looking for. I am now going to watch the next area of key buying to this current weak momentum. Will be watching how the orders coming from .8790 are taken. Once that area is impacted I will move my stop to break even and see once again if this week push will ...have a continuation or if it was a simple bargain retracement to make larger money into shorting.

I'm happy to see some old friends active around here.
I'm taking a ride on Euro and it's moving down nicely!
Any one else is trading this one?

Yep it has been some time since I post much. Dont like any thread really anymore lol...great to see your still trading

Alright the AUDUSD has pushed to next area of demand as expected. I will be now be looking at how large the orders coming into the market are. For now I have reduced my risk to 0 and will hopping from some more continuation thrue out the session.

Shermen, Whats your target on a/u? mine is 8730 to 8600 for a t1.

Alright just bought the gbpusd . Not really much of a technical reasoning since I just bought it because it seems like the pair cheap. It also seems like theirs a chance (trading is about taking chances) the market can move and the risk I am taking is small compare to the potential of a move I am seeking . I believe we might be accumalting orders in this pair so lets see if it pops. All I care about is making my risk worth it. Trading is a numbers game .

Alright the market is giving me that push up I was seeking . I know we are currently making higher lows ond we have also made lower highs. I love coin flips in the market .

Great trade on the GBPUSD. Quickly collected 40pips on the long side this morning.

I think I'll stay on the side today.
It's going to be low volume since is a holiday in US.
Good job Sherm,I hope you stick around my friend; this is the only thread I can relate to.

hi speedarad!

nice to see a fellow who knows bo