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The DIBS Method... No Free Lunch continues

  • #1,061
  • Jun 2, 2008 5:59am Jun 2, 2008 5:59am
Quoting HouseTrader
hello... is there anybody in there?... just nod if you can hear me....

I see some "perverted" IBs forming....

Let's see what happens...

Cheers!
I thought everyone went down the labour exchange mondays to collect their dole money!


  • #1,062
  • Jun 2, 2008 6:31am Jun 2, 2008 6:31am
Here is one, I am in.
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Haste not to Enter AND Haste not to Exit !-TradeStar
  • #1,063
  • Jun 2, 2008 6:59am Jun 2, 2008 6:59am
Quoting ozziedave
I actually didn't start my Firststrike trade until Tuesday. That is why I wasn't in the long move. Sorry, maybe I shouldn't have called it a firststrike trade. Actually, the point of my post was to say that we don't have to re-invent the wheel just follow the path already set out for us by two seasoned traders.
I didnīt mean to offend you in anyway, so my apologies if it looked like it and thanks for your explanation. If you didnīt take the first one for any reason, it is your first strike and can be called this way.

This weeks first strike look pretty promising too. 2 not triggered yet and 3 on the run. Weīll see what the week brings us.

Happy trading
DaBuschi
  • #1,064
  • Jun 2, 2008 6:59am Jun 2, 2008 6:59am
Quoting TradeStar
Here is one, I am in.
The other guy and I had a quick chat of this one as well.

1. The entry could be done on break of first IB in the red square.

2. The second IB have a strong support reason of taking, IB, Pin bar and down trend. 4hr clearly break the trend line.

Well, we also had a projection of this trade. Target one: 102.64, T2 102.49-102.38.

Still learning the price action all the times.
Attached Image
  • #1,065
  • Jun 2, 2008 7:04am Jun 2, 2008 7:04am
GBPUSD looks like it has had an IB followed by an IB around 1.9610 for the last 2 hours. This suggests even more reason to take the trade to me.

does anyone have any views on multiple IBs like that?
  • #1,066
  • Edited 7:46am Jun 2, 2008 7:11am | Edited 7:46am
I missed today's session. My loss.

This is what I see. Easy for me to do after the fact.

Using the 0100 EST Open (0500 GMT for me), there was a 0400 GMT IB on the Usd/Jpy & Gbp/Jpy. Playing IBs prior to the 0500 GMT can be played as long as they are with the 0500 GMT Open.

Usd/Jpy:
This would have been a little tricky, in that it broke the top briefly (tickle)then fell pretty strong. If you took the top break and then "stop and reversed" and took the bottom, your looking real good right now.

The same with Gbp/Jpy.
Attached Images
Indicators show the past. Price Action "Indicates" the future.
  • #1,067
  • Jun 2, 2008 7:12am Jun 2, 2008 7:12am
That's a nice one on GJ early this morning.

BK
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  • #1,068
  • Jun 2, 2008 7:19am Jun 2, 2008 7:19am
Quoting robincys
The other guy and I had a quick chat of this one as well.

1. The entry could be done on break of first IB in the red square.

2. The second IB have a strong support reason of taking, IB, Pin bar and down trend. 4hr clearly break the trend line.

Well, we also had a projection of this trade. Target one: 102.64, T2 102.49-102.38.

Still learning the price action all the times.
The place where you have drawn your break line for the bar is not an inside bar as far as I know. The second one is but it was not broken until several bars later.

Is the break of an inside bar still valid if it takes place after several more bars have formed?
  • #1,069
  • Jun 2, 2008 7:23am Jun 2, 2008 7:23am
Quoting jarroo
I missed today's session. My loss.

This is what I see. Easy for me to do after the fact.

Using the 0100 EST Open (0500 GMT for me), there was a 0400 GMT IB on the Usd/Jpy & Gbp/Jpy. Playing IBs prior to the 0500 GMT can be played as long as they are with the 0500 GMT Open.

Usd/Jpy:
This would have been a little tricky, in that it broke the top briefly (tickle)then fell pretty strong. If you took the top break and then "stop and reversed" and took the bottom, your looking real good right now.

The same with Gbp/Jpy.
5th bar to the IB, is this a good Pin Bar? well, to me it looks good. And it's down trend in 1 hr tf (no new high made before the break out) , so may be we put a limited order under the IB not above. do u think this could be a good "indicator" keeping us from long g/j?.

Didnt play this one, but just look and think about the past facts.
  • #1,070
  • Jun 2, 2008 7:30am Jun 2, 2008 7:30am
Quoting tamster
The place where you have drawn your break line for the bar is not an inside bar as far as I know. The second one is but it was not broken until several bars later.

Is the break of an inside bar still valid if it takes place after several more bars have formed?
To my understanding, both body and wick are inside previous bar. it's a valid IB.

Well, IB break dont have to happen just next bar to IB, right? can anyone vertify this?
  • #1,071
  • Jun 2, 2008 7:44am Jun 2, 2008 7:44am
Quote
hello... is there anybody in there?... just nod if you can hear me....

I see some "perverted" IBs forming....

Let's see what happens...

Cheers!


wot do u mean by perverted IB? are they IB due to retracement of wot?

would be glad if u can explain further
  • #1,072
  • Jun 2, 2008 7:49am Jun 2, 2008 7:49am
Quoting robincys
To my understanding, both body and wick are inside previous bar. it's a valid IB.

Well, IB break dont have to happen just next bar to IB, right? can anyone vertify this?
Sorry - should clarify that I am referring to IB at top of your chart. The green bar is not an iside bar but the next one (the white bar) is. However, you have drawn your break line below the green bar and not the white one. Just wondered why?
  • #1,073
  • Jun 2, 2008 8:04am Jun 2, 2008 8:04am
Quoting tamster
Sorry - should clarify that I am referring to IB at top of your chart. The green bar is not an iside bar but the next one (the white bar) is. However, you have drawn your break line below the green bar and not the white one. Just wondered why?

Ops, my apology, the 2 bar inside the top square formed an IB. the green one is not the IB, but the next white one is...

Well, correct me if im wrong.
  • #1,074
  • Jun 2, 2008 8:50am Jun 2, 2008 8:50am
It looks like a chance for two inside bars on the usd/jpy and gbp/jpy for this next hour coming up. This is an excellent methodology for playing IBs. Thanks for posting up this thread Jim. I don't feel that I have anything to add here as it is incredibly simple so I'll just be reading until I see opportunities arise.

Quick question, do you trade the IBs after the first 9 to 10 hours of the session or are you conservative with the time constraints? I personally don't feel there would be a problem with trading the bars after that time span.
I dream, therefore I become.
  • #1,075
  • Jun 2, 2008 9:05am Jun 2, 2008 9:05am
Quoting verno
GBPUSD looks like it has had an IB followed by an IB around 1.9610 for the last 2 hours. This suggests even more reason to take the trade to me.

does anyone have any views on multiple IBs like that?
Welcome to my "perverted" IBs....

Cheers!

HT
Many share my views with me. But I don't share them with them...
  • #1,076
  • Jun 2, 2008 9:12am Jun 2, 2008 9:12am
Quoting mike w
It looks like a chance for two inside bars on the usd/jpy and gbp/jpy for this next hour coming up. This is an excellent methodology for playing IBs. Thanks for posting up this thread Jim. I don't feel that I have anything to add here as it is incredibly simple so I'll just be reading until I see opportunities arise.

Quick question, do you trade the IBs after the first 9 to 10 hours of the session or are you conservative with the time constraints? I personally don't feel there would be a problem with trading the bars after that time span.

You can play them Mike, late in the day IBs. Just remember that they are considered low probability trades. This does not mean that they do bear fruit at times.
Indicators show the past. Price Action "Indicates" the future.
  • #1,077
  • Jun 2, 2008 9:18am Jun 2, 2008 9:18am
Quoting Naijafx
wot do u mean by perverted IB? are they IB due to retracement of wot?

would be glad if u can explain further
Hello, Naijafx...

I call "perverted" IBS when there is an IB following a big movement, and then the next bar fails to breakout, but it also fails to break the upper limit of the 1st bar... So I "join" the 2 bars ... if they do not break the limits of the 1st bar, I call it the "Perverted IBs", cause they meaning to me is that there are still indecision on the breakout... . I used this today on GBP/USD and USD/JPY... But 90% of times I use the pure DIBS setup. Now, USD/JPY is on free ride and GBP/USD has not hit TP... in fact it is flying to my SL ... Come on... bring it to me little b&%$#!...

See the pic below, it's an example I used some posts ago...

http://www.forexfactory.com/attachme...02008%208:17pm

Anything I could help...

Cheers!

HT
Many share my views with me. But I don't share them with them...
  • #1,078
  • Jun 2, 2008 9:22am Jun 2, 2008 9:22am
Quoting jarroo
You can play them Mike, late in the day IBs. Just remember that they are considered low probability trades. This does not mean that they do bear fruit at times.
Alrighty Thanks for the reply Jim, it's much appreciated man! Low probability trades = not happening. Thanks again for clearing that up for me.
I dream, therefore I become.
  • #1,079
  • Jun 2, 2008 9:34am Jun 2, 2008 9:34am
GBP/USD stopped out

She will come to papa later...

Still the USD/JPY free riding....

I see you fellows are taking trades at asian session....

Going to give a try with JPY pairs...
Many share my views with me. But I don't share them with them...
  • #1,080
  • Jun 2, 2008 9:42am Jun 2, 2008 9:42am
Hello,

I've been reading this thread for a while without posting. Usually I trade news strictly with PA and a little help from pivots.
I couldn't help but noticed a DIBS formed in gbp/usd today and took a trade. I exited early though, cause there was no follow through and PA tells me that going up faces less resistance.
Got 4pips in the end...oh well...hope better days tomorrow.
Here's the chart.

y.caesar
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