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  • #801
  • May 27, 2008 12:10pm May 27, 2008 12:10pm
Hello everyone,
I did not trade the usd/jpy, but if I were to trade the upside break of that first inside bar, here is where I would place my stop loss. (see chart) I would place my stop below the second "perverted" inside bar as House Trader calls it. (by the way, I like your method HT, keep up the great posts). Since the first inside bar's low was breached, I would no longer consider it valid support. By placing it under the following bar's low, it is under the most recent swing low and the 38.2 fib retracement of the current day's range. Ofcourse you must reduce your position size to account for the increased risk.
P.S. thanks to Jarroo for starting this great thread and thanks to all of the helpful people posting in it.
thanks, dave
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  • #802
  • May 27, 2008 12:15pm May 27, 2008 12:15pm
Quoting davema
Since the first inside bar's low was breached, I would no longer consider it valid support.
That's a good point.
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #803
  • May 27, 2008 12:28pm May 27, 2008 12:28pm
Hi all,

Great job here. Thanks for all your efforts. I would like to make an inquiry with regards to the triggerline indicator v1.2; It seems to draw lines only after the 2nd candle following the IB has been formed. Is this how it is meant to be? I thought we bought or sold breakouts of the candle preceeding the IB? Please correct me if i'm wrong. I have also noticed delays in the apprearance of the lines; sometimes i have to re-load the indicator before it appears.

I sincerely appologise if my question may seem to drag us back a little. It seems this thread has suffered a lot of that so far.

Thanks again.
  • #804
  • May 27, 2008 12:44pm May 27, 2008 12:44pm
Quoting Shefa
Thank you HT for your answers,

Jarroo thinks we are in an up trend, and will write about it later (I hope so).

I have to go now. Hopefuly, tomorrow(?) will consider DIBS method more.

Cheers,

Shefa.
I would say we are in a range in the shortterm, and very close to the major downward trendline. On the weekly chart it looks like a flag even. If the midterm uptrend from mid-March is to continue we need to break that trendline, otherwise we might see the longterm trend conintue down.
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  • #805
  • Edited 3:45pm May 27, 2008 3:28pm | Edited 3:45pm
Quoting Shefa
Thank you HT for your answers,

Jarroo thinks we are in an up trend, and will write about it later (I hope so).

I have to go now. Hopefuly, tomorrow(?) will consider DIBS method more.

Cheers,

Shefa.
Hello, fellows... just back from the office... wish I could trade all day long...

I totaly agree with Jarroo (this is such a great thread, Jarroo!)... we are in a medium therm uptrend, which for me is enough to take some long positions as today. I really don't like much those long therm trends... seen in the rear-view mirror they are awesome, but when it is happening nobody really knows how long it will last. I define my bias (bull/bear) based on daily charts, some times weekly. But If you have to go weekly to see it clearer, you can be sure you may be in the rough waters of ranging market ...

Also agree with NowAndLater... don't like much those figures (flag, pennant, triangle...) cause they put (IN MY OPINION, please....) a bias of trying to predict the next move, which I advice must NEVER be done. But I admire those who master their use. As areas of support/resistence as NAL shown they are great tools...
Quote
I would say we are in a range in the shortterm, and very close to the major downward trendline. On the weekly chart it looks like a flag even. If the midterm uptrend from mid-March is to continue we need to break that trendline, otherwise we might see the longterm trend conintue down.
PS: I'm still riding my USD/JPY.....

Cheers!
Many share my views with me. But I don't share them with them...
  • #806
  • May 27, 2008 3:40pm May 27, 2008 3:40pm
Quoting davema
Hello everyone,
I did not trade the usd/jpy, but if I were to trade the upside break of that first inside bar, here is where I would place my stop loss. (see chart) I would place my stop below the second "perverted" inside bar as House Trader calls it. (by the way, I like your method HT, keep up the great posts). Since the first inside bar's low was breached, I would no longer consider it valid support. By placing it under the following bar's low, it is under the most recent swing low and the 38.2 fib retracement of the current day's range. Ofcourse you must reduce your position size to account for the increased risk.
P.S. thanks to Jarroo for starting this great thread and thanks to all of the helpful people posting in it.
thanks, dave
Hello, davema!

That's almost exactly what I did. But I took the trade at the upper limit of the 2nd bar, an put my SL in the same price as you posted... That gave me a couple more pips and a better Risk/Reward ratio, but that's the essence .... what I call the "perverted" DIBS setup

Thanks for the kind words!

Cheers and pips!

HT
Many share my views with me. But I don't share them with them...
  • #807
  • May 27, 2008 10:15pm May 27, 2008 10:15pm
Quoting jarroo
I've been looking at the Yens pairs for IB that occur between 0000 GMT and 0500 GMT (0100 EST). I do this with the Usd pairs but they have to be played off the 0500 GMT Open.

The Yens look like they do not have to be played off the 0500 GMT. If they do, that's even better.
Usd/Jpy. Entered short at 104.00.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #808
  • May 27, 2008 10:35pm May 27, 2008 10:35pm
Quoting Shefa
Thank you HT for your answers,

Jarroo thinks we are in an up trend, and will write about it later (I hope so).

I have to go now. Hopefuly, tomorrow(?) will consider DIBS method more.

Cheers,

Shefa.
Hey Shefa.

I understand that we have been in a downtrend on the Usd/Jpy since July 2007. But the current short term trend on the Daily has been bullish since mid March 2008. Is this the beginning of a long term uptrend? Maybe.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #809
  • May 27, 2008 10:42pm May 27, 2008 10:42pm
Watching Gbp/Jpy on the short side.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #810
  • May 27, 2008 10:58pm May 27, 2008 10:58pm
Jaroo,

I am also short on the dollar/yen.

golferguy99
PIP'N
  • #811
  • May 27, 2008 11:15pm May 27, 2008 11:15pm
Quoting golferguy99
Jaroo,

I am also short on the dollar/yen.

golferguy99

I would like to see a more "robust" break like yesterday.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #812
  • May 27, 2008 11:17pm May 27, 2008 11:17pm
Quoting jarroo
I would like to see a more "robust" break like yesterday.
The same with Gbp/Jpy.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #813
  • May 27, 2008 11:21pm May 27, 2008 11:21pm
I went Short on UJ and EJ. Could have gone Short on GJ as well but left ithis pair out because:
(i) Spread on GJ is high for my broker.

(ii) Based on DIBS (using 00:00 GMT as day's opening for JPY pairs), we should Short all 3 JPY pairs of UJ, EJ and GJ. If I Short all 3 pairs and is right, then of course I make profit on all 3 pairs. But if I am wrong, then it will be losses across all 3 pairs. I think risking on 2 pairs is enough.
  • #814
  • May 27, 2008 11:22pm May 27, 2008 11:22pm
Quoting jarroo
The same with Gbp/Jpy.
Personal opinion on G/J, it's overall uptrend and the price current hit the support trendline, maybe will be a good idea to long it.

Correct me if im wrong
  • #815
  • May 27, 2008 11:28pm May 27, 2008 11:28pm
Will be watching with sharp eye tonight!
PIP'N
  • #816
  • May 27, 2008 11:32pm May 27, 2008 11:32pm
Quoting robincys
Personal opinion on G/J, it's overall uptrend and the price current hit the support trendline, maybe will be a good idea to long it.

Correct me if im wrong
Hard to say. G/J is such a crazy pair.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #817
  • May 27, 2008 11:50pm May 27, 2008 11:50pm
Jarroo,

Looks like this could be are breakout we were looking for!
PIP'N
  • #818
  • May 27, 2008 11:52pm May 27, 2008 11:52pm
Quoting golferguy99
Jarroo,

Looks like this could be are breakout we were looking for!
Yes. That's a lot harder break.
Indicators show the past. Price Action "Indicates" the future.
  • #819
  • May 27, 2008 11:54pm May 27, 2008 11:54pm
Here we go. Usd/Jpy, Eur/Jpy, and Gbp/Jpy.
Indicators show the past. Price Action "Indicates" the future.
  • #820
  • May 28, 2008 12:32am May 28, 2008 12:32am
Agree, waiting for bounce from that supporting trendline - and from that mysterious 161 fib level
You need to go down to 15min chart to draw the fib properly.

Getting in when resisting tl is broken. Note that supporting tl needs to stay valid. ...and adding position when IB top passed!

R

Quoting robincys
Personal opinion on G/J, it's overall uptrend and the price current hit the support trendline, maybe will be a good idea to long it.

Correct me if im wrong
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Click to Enlarge Name: gj.gif Size: 13 KB
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