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Indicator Free Trading - Skunny

  • #6,301
  • Mar 31, 2010 1:19pm Mar 31, 2010 1:19pm
Quoting Misterdaz
I had the same fib as your red one. Ineresting.

MD.
Yes I bag 155 pips from that trade. I exited the trade a little on the early side due to my FXCM trading platform freezing up on me. I still think that a 155 pips is still pretty good.
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  • #6,302
  • Mar 31, 2010 1:52pm Mar 31, 2010 1:52pm
A while back I read that Bobokus was actually the one that taught Skunny how to trade now I don't know how true that is but it did cause me to go over to Bobokus thread and read a few pages. The problem I had with Bo's thread is it is very confusing. He even states that he may have confused people more than helped them. However as I previously stated I went to his website and found an article that drew fibs on the single candle everyday. Sounds like something FxCompass was teaching doesn't it. What I did not know was he also fibbed the retracement. I started using this method and it seems to be quite interesting. I know that I don't know all the in's and out's of his entire but this part does make sense to me at least. It also kind of help me understand Skunnys method a little better. Whereas Skunny talks about entering a trade upon penetration Bo talks about entering at the inner fib areas.
  • #6,303
  • Mar 31, 2010 3:04pm Mar 31, 2010 3:04pm
Quoting Checkz
[font=Georgia][size=3]A while back I read that Bobokus was actually the one that taught Skunny how to trade now I don't know how true that is but it did cause me to go over to Bobokus thread and read a few pages. The problem I had with Bo's thread is it is very confusing. He even states that he may have confused people more than helped them. However as I previously stated I went to his website and found an article that drew fibs on the single candle everyday. Sounds like something FxCompass was teaching doesn't it. What I did not know was he also...
Hey Checkz could you provide a link to the article you are talking about it sounds interesting and thanx in advance.
  • #6,304
  • Mar 31, 2010 3:27pm Mar 31, 2010 3:27pm
Quoting ak47dan2004
Hey Checkz could you provide a link to the article you are talking about it sounds interesting and thanx in advance.
However try this go to www.bobokus.com/133-Forex-Fibonacci-Price-Action.html If this doesn't work go to www.bobokus.com and type Forex:Fibonacci & Price Action in the search box. In the article he has two simple trading rules that I think are eye openers for anyone trading Skunnys method!
  • #6,305
  • Mar 31, 2010 3:33pm Mar 31, 2010 3:33pm
Quoting Checkz
However try this go to www.bobokus.com/133-Forex-Fibonacci-Price-Action.html If this doesn't work go to www.bobokus.com[font=Georgia][size=3] and type [i]Forex:Fibonacci & Price Action...
Sweet!!! Thanx for the quick reply. Its time to get this thing figured out once and for all lol
  • #6,306
  • Mar 31, 2010 3:38pm Mar 31, 2010 3:38pm
Quoting ak47dan2004
Hey Checkz could you provide a link to the article you are talking about it sounds interesting and thanx in advance.
After you read the article go to YouTube and tye in Forex Training Intraday/Swing Fibonacci (Bobokus.com) This will explain the article you just read plus it talks about the fibbing of the daily retracement. After I read the article and watch the video I learned more in 10 minutes than I did in the re-reading of this thread. Like I said it made me understand Skunnys method more and gave me a better way to trade it.
  • #6,307
  • Mar 31, 2010 3:41pm Mar 31, 2010 3:41pm
Quoting ak47dan2004
Sweet!!! Thanx for the quick reply. Its time to get this thing figured out once and for all lol
I agree! Im glad I could help!
  • #6,308
  • Mar 31, 2010 5:34pm Mar 31, 2010 5:34pm
I've read that stuff about 6 months back and seen the videos. Bobokus seems to be on the level, ie he never gets any bad press. If Skunny is to be believed then they were his own ideas not Bo's.

I can't remeber Bo's stuff now but I think I was put off by all the different fibs. If you like it Checkz go for it, you sure have plenty to read if you want to!

MD.

Edit: I think Speedarad is a Bobokus fan...
Keep smiling
  • #6,309
  • Mar 31, 2010 5:47pm Mar 31, 2010 5:47pm
Quoting Misterdaz
I've read that stuff about 6 months back and seen the videos. Bobokus seems to be on the level, ie he never gets any bad press. If Skunny is to be believed then they were his own ideas not Bo's.

I can't remeber Bo's stuff now but I think I was put off by all the different fibs. If you like it Checkz go for it, you sure have plenty to read if you want to!

MD.

Edit: I think Speedarad is a Bobokus fan...
Oh trust me I don't plan to go through his entire thread I think I have got enough info for now to trade with and I agree all those fib level are really confusing.
  • #6,310
  • Mar 31, 2010 5:56pm Mar 31, 2010 5:56pm
Checkz whatever you do good luck to you. You always seem to win anyway, you must post the most charts here and they usually end up with one of your big thumbs up smilies.

Gotta hit the sack, night.

MD.
Keep smiling
  • #6,311
  • Mar 31, 2010 10:40pm Mar 31, 2010 10:40pm
I've been checking out Bobokus's stuff too. Has a number of free videos to check out as well on his original thread.

Anyway, pleased with having won yesterday, and remembering the failure that was the EURUSD yesterday... today I see on the GBP what I saw on the EURUSD yesterday.

In essence, we see a rejection from beyond the 0 (because there's no inner fib respect to hit the 138), and therefore that can only mean a retrace towards the inner fibs and the pivot (which is now casually sitting on top of one of the fibs) I think... In addition, the SMA50 is miles away from price, so a retrace is in order I think.

Also, I note some respect bouncing away from the 0 level... (more evidence for price to go down)

I'm trading towards the pivot. Should be a safe TP...
Fingers crossed....
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  • #6,312
  • Apr 1, 2010 3:34am Apr 1, 2010 3:34am
Off the mark with that estimation.
here's the fib I should have drawn...

If price had dropped below 61, then there would have been a test of the pivot... but even then the R:R would have been negligible
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  • #6,313
  • Apr 1, 2010 8:21am Apr 1, 2010 8:21am
I didn't trade this because I couldn't trace the retracement. But it did hit the 138.2 ext
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  • #6,314
  • Apr 1, 2010 10:02am Apr 1, 2010 10:02am
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Keep smiling
  • #6,315
  • Edited 10:31pm Apr 1, 2010 9:22pm | Edited 10:31pm
I'd like to look at more charts today, except that it's a bank holiday in a lot of places... followed by an NFP. A fairly sucky day to trade.

A bit of a giveaway for the GBP though. Price HAD to retrace back to the innerfibs and the pivot before it could decide what to do.
Just had to fib from the latest high, and the respected 50 fib line from yesterday.
So it would seem that having knoweldge of yesterday's respected fib line plays a part in redrawing the fib for the next day!
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  • #6,316
  • Apr 1, 2010 10:57pm Apr 1, 2010 10:57pm
Will the Forex market be open on Good Friday? Im just wondering since this is considered a Holiday to some.
  • #6,317
  • Apr 1, 2010 11:54pm Apr 1, 2010 11:54pm
Quoting Checkz
Will the Forex market be open on Good Friday? Im just wondering since this is considered a Holiday to some.
Well Japan cares not for Easter... so they're still open.
  • #6,318
  • Apr 2, 2010 12:50am Apr 2, 2010 12:50am
Watching the CAD climb upwards. Possibly about to change trend direction should it clear the 61 ....

I'm noting how the price usually gives you clues ahead of time (in particular the double bottoms) so you can hunt around to find the appropriate fib that fits.
In this case, the price is launching UP off an inner fib, and climbing UP on the pivot as well. A break of the 61 should result in a bit of whooshkah .... otherwise if that level holds, we're going down again.
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  • #6,319
  • Apr 2, 2010 12:51am Apr 2, 2010 12:51am
Quoting Naynay
Well Japan cares not for Easter... so they're still open.
Thankx
  • #6,320
  • Apr 2, 2010 1:17am Apr 2, 2010 1:17am
Quoting Checkz
Thankx
Did you see this one on the YEN?
(I'm not sure if I have the fib correct, but it seems to match what I saw happen)
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