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Attachments: X-Rated IBs & OBs
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X-Rated IBs & OBs

  • #61
  • Dec 14, 2007 8:48am Dec 14, 2007 8:48am
Quote
Short
Wait till the next candle (confirmation candle) has fully formed and is a bear candle. Then, a good entry point would be when the 1st or 2nd candle following the confirmation candle moves 5 pips lower. Also, at this entry point ONE of the following criteria should be met:

  1. ADX line (Yellow line) above 40.
  2. -DI line (Red dotted) crosses above +DI line (Green dotted) & ADX line (Yellow line) curving upwards at entry.


In the above:
5 pips lower than the OB or 5 pips lower than the confirmation candle?
  • #62
  • Dec 14, 2007 8:52am Dec 14, 2007 8:52am
Quoting billbss
In the above:
5 pips lower than the OB or 5 pips lower than the confirmation candle?
Lower than the confirmation candle.
  • #63
  • Dec 14, 2007 8:58am Dec 14, 2007 8:58am
Quoting mazdaz
Lower than the confirmation candle.

Quote
Short
Wait till the next candle (confirmation candle) has fully formed and is a bear candle. Then, a good entry point would be when the 1st or 2nd candle following the confirmation candle moves 5 pips lower. Also, at this entry point ONE of the following criteria should be met:

  1. ADX line (Yellow line) above 40.
  2. -DI line (Red dotted) crosses above +DI line (Green dotted) & ADX line (Yellow line) curving upwards at entry.


According to your rule above, in the possible trade we're looking at now, when a bar goes 5 pips lower than the confirmation bar the ADX MUST be above 40. The second criteria won't apply because the + and - D crossed several hours ago.
Is this correct?
  • #64
  • Dec 14, 2007 8:59am Dec 14, 2007 8:59am
ENTER SHORT @ 2.0214
  • #65
  • Dec 14, 2007 9:05am Dec 14, 2007 9:05am
Order triggered. See what happens.
  • #66
  • Dec 14, 2007 9:11am Dec 14, 2007 9:11am
Quoting mazdaz
Order triggered. See what happens.
Not to be critical but gbpusd just went through a 200 pip rundown. It only averages about 150 per day max. Way too late in the trend. Good luck to you though.
  • #67
  • Dec 14, 2007 10:26am Dec 14, 2007 10:26am
Quoting mazdaz
Order triggered. See what happens.
Stopped out.
  • #68
  • Dec 14, 2007 11:01am Dec 14, 2007 11:01am
It would be very useful to have an indicator painting (and, better, alerting for ) outside inside bars. I have searched for it, but without luck so far.

Anybody as a clue regarding where to find it?
  • #69
  • Dec 14, 2007 11:07am Dec 14, 2007 11:07am
Quoting Triton18
It would be very useful to have an indicator painting (and, better, alerting for ) outside inside bars. I have searched for it, but without luck so far.

Anybody as a clue regarding where to find it?
This forum and TSD have more indicators than anywhere I know of.

TSD is a nasty place. I don't go there unless I have to.

Do searches.
  • #70
  • Dec 14, 2007 11:16am Dec 14, 2007 11:16am
Stopped out

Like MagnumFreak said, I entered late in the trend.
  • #71
  • Dec 30, 2007 11:05am Dec 30, 2007 11:05am
Quoting billbss
This forum and TSD have more indicators than anywhere I know of.

TSD is a nasty place. I don't go there unless I have to.

Do searches.
What do you mean? I have cut my teeth over there and have walked away a much better trader.

More on topic: I have applied the inside bar technique to the daily timeframe and a simple overview of the charts for the next trading day yields very nice profits on a simple trend trade in the direction of the breakout. Take a look for yourself and see what I mean.
  • #72
  • Dec 30, 2007 11:16am Dec 30, 2007 11:16am
Hey Mazdaz, this looks very interesting. Thanks a bundle.
  • #73
  • Last Post: Jan 14, 2008 1:56pm Jan 14, 2008 1:56pm
Hi Mazdaz,

I have a clarifying question. In this strategy, should we only enter into trades up to 1-2 candles after the crossing of DI+ with DI-? If not, what criteria should we use to determine that it is perhaps too late to enter into a trade?

Also, do you perhaps keep track of your trades and can share, on average, how many trades you are able to make on a given day on GBP/USD? ... Are there any days better than other? ... I don't know if I am applying this system well, but today I was able to only place one trade.

Thank you in advance.
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