This is a "hot hand" in my opinion. Bounced off .9500 with a bullish engulfing weekly candle. A divergent candle.
Blue line is last week's close (H4 chart):
Blue line is last week's close (H4 chart):
Gone to a better place
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DislikedA few questions: 1) Which currency pair is that? (It looks like an H4 chart.) 2) When you measure the hot hand, where do you start from yesterday's close or the close of the previous Friday? 3) Is that red IB "up on the day"? What time do you start measuring when you consider whether a price is "up on the day"? I choose the UK open (3 am New York time), but with the Bank Reserve Settlement, it's usually midnight EST. Also, I ran your chart through MS Paint and made notes. You started at the very far left? {image}Ignored
DislikedTook a DIBS long yesterday followed by a dibs short today both on EUR/USD. Chart attached and marked. small but live account. {image}Ignored
DislikedTook a DIBS long yesterday followed by a dibs short today both on EUR/USD. Chart attached and marked. small but live account. {image}Ignored
Disliked{quote} Updated, added another IB at bed time, woke up to a nice drop {image}Ignored
Disliked{quote} Final Post. Long Weekend Coming. I'll take my profits here. Notice I added a third entry here 3 hrs earlier today. 13% profit just within 24 hrs? What else do we need? {image} Once Again Thank You PC The Amazing Mr. Crown [Big CROWN on your Kingly Head] thanks for the strategy and something else...Ignored
DislikedThe cable long was a negative trade we say NEXT But caught short today {image}Ignored
Disliked{quote} yes a good one indeed but have seen much better. and hope to see a few better ones. I am really hoping to help revive the magic of DIBS. I fully believe in it as I've been using it for nearly 2 years now. Just finding the time and courage to post the charts. Its really a boring thing of repeating the same thing over and over but it has its own hidden excitement that keeps me going. cheers ps: was going through backlog of pm's and found that I've actually been trading DIBS for 3 years or more now. heheIgnored