Hi en0x,
This is also what I think - one has to be on board the first big move after 6:00gmt. Usually before lunch.
But the problem is to stay in the trade and not to be shaken out. Like gbp today and eur yesterday.
Very often there is a IB from the last session and the daily close within. This means possible trades in both directions.
There is very often a second time through - like a first breakout, then reverse to pick stops at the other side of the IB and after that a real breakout to the former side. This is very often the case if you have low risk IBs (narrow range). Any solutions?
Maybe trade the first IB (or the resulting local high/low after that bar) in the session more than twice!?
Thomas
This is also what I think - one has to be on board the first big move after 6:00gmt. Usually before lunch.
But the problem is to stay in the trade and not to be shaken out. Like gbp today and eur yesterday.
Very often there is a IB from the last session and the daily close within. This means possible trades in both directions.
There is very often a second time through - like a first breakout, then reverse to pick stops at the other side of the IB and after that a real breakout to the former side. This is very often the case if you have low risk IBs (narrow range). Any solutions?
Maybe trade the first IB (or the resulting local high/low after that bar) in the session more than twice!?
Thomas
DislikedYeah, I was in that short, I also got fried but I reversed.
Starting to feel under the weekly open is arbitrary, has no baring on the trade.
What I do think is more important is we look at the trend on the weekly or daily, and see if it is up or not. I think DIBS is great for entry into the trend. Heck I don't know. At the moment, my forward testing is showing rather random results and a disregard for the weekly open. I think we should be using better technical analysis to determine weekly direction, not just Weekly open.
However, I still believe...Ignored