Run — Running back down......sometimes you have to stick with it.

The Zone Break Out

4hr — My short position was confirmed by breaking trend on the 4hr time frame at the same time as the 15 min and one hour.

The Zone Break Out

Breakout — We finally broke consolidation. I am short and have locked in one point profit.

The Zone Break Out

Waiting — Here is where experience pays off. We don't just jump when we break out of the zone. As I said before, time of day and price action determine our move. Also still watching that 4hr chart.

The Zone Break Out

Time of day — You can see time of day plays a big part in this method. It is always a much better trade when price action has slowed for a while, consolidated and then we make the trade when things are moving again. As you can see here we are ...

The Zone Break Out

Thanks — Thanks bogus, I think you will enjoy this because it is pretty simple and uses multiple time frames to confirm what we are seeing on the 15 min. I enter on 15 minute chart but it is always more accurate when we have a break of a trend ...

The Zone Break Out

4hr — Any good method uses more than one time frame. Here is a posting of the 4hr chart as it stands now. You can see the we may possibly break a trend line on the 4 hr at the same time we are coming out of our 15 min zone.

The Zone Break Out

Now — I have drawn our box or zone between the 50 and 23.6 retrace. We are looking for a break of this area to trade. We must take in to consideration the time of day and the fact that we have not had much consolidation yet so I will be ...

The Zone Break Out

Current Position — Here is our current position and normally we would have already drawn the Zone box. We try to wait for price to consolidate and then look for the breakout. I have pulled fibs on the major move of the day and looking for ...

The Zone Break Out

Good Call — There were some calling this short last evening and honestly I did not see it happening to this extent but that is why we react to what actually happens. Good call for some and good reaction for others. PT

Cable Update (GBPUSD)

Breakout — We are currently challenging the high of yesterday. Obviously there is a good chance we will take a bounce off the high, but with the momentum long we also could find some buy orders just above this high as well. There is not much ...

Cable Update (GBPUSD)

Question — What is your reasoning for placement of the order at 5556? That is just above the 23.6 retrace of the last swing move up Don't you expect some support at that level considering the size of the up move today. Not second guessing you ...

Fibonacci Trading with Bobokus

Bo — Just saw that Bo has departed to do his own thing. I consider Bo a great guy and friend and at one time we were very tight. He is a great teacher and has freely given everyone in this thread a great gift. I hope everyone who trades his ...

Fibonacci Trading with Bobokus

I agree — I have to agree with you on this one. There is nothing I am looking at that would indicate we would be back down to 1.5000. Never say never, but the actions of the Fed today made it more likely that there would be less conversion to ...

Cable Update (GBPUSD)

Yes — So true!

Cable Update (GBPUSD)

Good point! I noticed today was one of the few times we had a bit of a disconnect from the Dow Jones, so perhaps we may get back to being able to interpret news again. PT

Cable Update (GBPUSD)

And now we are penetrating the 4hr lower trend line. It still seems likely we will turn in this area or just below at 1.4900, but we will see.

Cable Update (GBPUSD)

Keep in mind we have retail sales news out during US session and it is likely to be bad. Also we have not penetrated the lower trend line on 4 hr, so I am not yet convinced we are going short. PT

Cable Update (GBPUSD)

I agree — You are so right. If you remember my thread, I use to make everyone call their trades as they made them or they could not boast about their million pips. Amazing how many less pips were made. PT

Cable Update (GBPUSD)