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Attachments: The DIBS Method... No Free Lunch continues
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The DIBS Method... No Free Lunch continues

Quoting Succe55
Hi Guys Nice to see this thread has been given a new life. I was looking for a reliable "inside bar alert" indicator and found this to be very useful. It sends me a message to my iphone. No excuse for missing them now! It also draws entry and exit prices should you want to use them. Good trading {file} Credit to: http://www.acbforextrading.com/ for the FREE indicator
Thanks for your contribution and yes, alerts would be fine however it won't have helped much with GU IB today as the low was broken instantly. I was able to catch it as I set my order a min before the close. (anticipation)

cheers
"...Look for 5:1 RR. I can be wrong 8/10 time yet I'm not gonna lose" PTJ
Just a quick update.

In anticipation of FOMC in 2hrs I have NOT traded today despite the fact UJ was hot. But I did an overall trend analysis of UJ and "appeared" to be in a down trend on H1 at least. Its turning into a 3 dimension trend for me now. 1. The Daily Trend off the open price level. Rather, its a FILTER ... 2. Trend on a zoomed out H1 chart, lets say a chart with 180-200 bars . if price is going from top left to the bottom right, trend is down. 3. the trend on the daily time frame. If its already in a trend, then follow it, if not, still take trades and perhaps you might get in to the next trend "before others"

hope it makes sense. ...

[as always the above is all IMHO and I know nothing]
ps: I've joined J16... oh man... best decision...

@mbqb11 I'm watching YD's webinar and loving it.... thanks Mike
"...Look for 5:1 RR. I can be wrong 8/10 time yet I'm not gonna lose" PTJ
Anybody know what this is on Peter's chart? I put a white circle around it. Three dotted lines with a yellow anchor connecting to the moving averages.
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Studying charts again i see..

Maybe there is a clue in the post it went with, can you link to the post?


Respectfully
http://www.forexfactory.com/showthre...67#post2616367

I noticed that inside bar was right on the end of a bull flag. And Peter said that he liked to use pennants. Maybe using these two together increases the odds of success.
I always saw the line as just a marker to so he could show us were he entered the trade..
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Makes sense, but what about the three dotted lines?
It's looks like the bottom and middle lines are the high and low of the inside bar. The third one at the top....could that be the high from a 4 or 8 hr inside bar?
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It looks to me like the trade set up with the open, stoploss and the take profit for position 1 to make the remaining position a free "runner".
Quoting Jason W
Makes sense, but what about the three dotted lines?
Jason,

the dotted lines are drawn by his indicator for identifying IB buy and sell levels which will also server as Stop loss levels.

hope it makes sense

ps: in this post , when he revisited after a year, he wanted to show that these are the types of trades he's looking for, the LONG TRAILS...
"...Look for 5:1 RR. I can be wrong 8/10 time yet I'm not gonna lose" PTJ
Sorry for my English. Which pairs does it work?
Forgive for my English!
The majors
Swiss Frank was hot today specially due to some news and people talking here and there...

a strong bar up, simply waited for an IB and then the bang. Could have taken half off at 4R but was too quick. so took half off at just under 2R. 1% banked. Now lets see where it goes.

ps: also had order for EU and its in but not FT yet
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"...Look for 5:1 RR. I can be wrong 8/10 time yet I'm not gonna lose" PTJ
GBP/USD ... it was trending down all september.
I see great profits coming as a result of YD's tiny DIBS trade plus one more later in the day. All trades Free Trades and going into a HUGE down trend on the daily time frame. amazing...
"...Look for 5:1 RR. I can be wrong 8/10 time yet I'm not gonna lose" PTJ
NIce
Pound has been a beast, especially since Brexit....but the DIBS king of 2016 is no doubt the Japanese Yen....tons of monster trades....some you could have rode to huge profits.

Question: what open do you guys use for the DIBS 24 hour line? I know Peter recommended 01:00 EST or 0:00 CST.....however, if you look closely at his charts, he's using the 0:00 EST open, not 01:00 EST.

For my trades, I've been using 0:00 EST open, since New York is the financial epicenter of the world......it's worked pretty well, no complaints.
"Ask yourself, when does the market open? I use 00:00 CST or 06:00 GMT as my open. Believe me, if you are off 1 hour due to Daylight Savings time it is not going to be a problem."
Ya, I didn't figure an hour deviation would amount to a hill of beans....plus, I compared the 0:00 EST open with peter's suggestion of the 01:00 EST, and price seemed to react more to the former than the latter....so I'm gonna stick with it.

Question: for DIBS reversal trades, do you guys use the same rules as you would for DIBS entries? For example, lets say I got long the Euro futures for a swing trade.....to qualify as a potential reversal, would a new inside bar that forms have to be below the 24 hour line?

Or would it be better to treat any short inside bar breakout, even if they occur above the 24 hour line, as a reversal indicating we should exit our trade?
Quoting dustbin
GBP/USD ... it was trending down all september. I see great profits coming as a result of YD's tiny DIBS trade plus one more later in the day. All trades Free Trades and going into a HUGE down trend on the daily time frame. amazing...
Now Look what it did. If PC was a man I could meet today. It would an interesting meeting.

all the best guys. Let this be a great lesson to all of us. Simple WORKS.
"...Look for 5:1 RR. I can be wrong 8/10 time yet I'm not gonna lose" PTJ
Quoting dustbin
{quote} Now Look what it did. If PC was a man I could meet today. It would an interesting meeting. all the best guys. Let this be a great lesson to all of us. Simple WORKS.
great lesson indeed
thankyou gregwilson
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