Blog Entries - January 2009

Forex: Fibonacci & Price Action

bobokus@bobokus.com — Fri, 30 Jan 2009 08:00:00 +0100

Fibonacci is used many ways, but how many of you ever use it to determine the balance point between long and short? Fibonacci can be used to help identify reversal points in the market as they are unfolding and help give us one more tools in our inventory; to give you that ever so hard to keep edge in trading. Reversal signals are key in keeping pace with market sentiment. There are ways that we can use the Fibonacci tool as an aid in seeing these reversal points and to be able to look pas [...]

Trading Naked - Live Forex Trade With S&R

bobokus@bobokus.com — Thu, 22 Jan 2009 07:54:24 +0100

Live trade example using support and resistance to scalp a quick profit out of the market..

How To Trade Forex Using Fibonacci To Follow Price Action

bobokus@bobokus.com — Sat, 17 Jan 2009 08:00:00 +0100

This week we'll look at using the Fibonacci retracement tool to gauge price movement and give some pointers on using the Fibonacci retracement tool. In this example we'll use the USD/Yen and start from the 4 hour perspective. (Figure 1) is the starting point where we watch the retracement. After making a high we see price begin to fall, find mild support and begin to move back up. As it moves back up we can use the fib tool to point out the resistance levels to price.