Thank you very much
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The DIBS Method... No Free Lunch continues
- #1,623
- Jun 12, 2008 3:09am Jun 12, 2008 3:09am
- | Joined Mar 2008 | Status: ... I was aiming at the horse! | 913 Posts
Yes before starting the DIBS I had problems with the cable as well, but not any more
Fast moves today, EU and UCHF has already moved around their daily average ranges. EU low at round number and daliy s2. UCHF highs almost at yesterdays highs and close to daily M4. GU also almost done with its daliy average range and its close to the round number and just below it is yesterdays low and the monthly s1. UJ on the other hand has about 1/3 left of it's average left. It's now sitting between daily d1 and weekly r2 and might end up hitting close to 108.00 where monthly R2 and daily M4 lies.
I wont enter more trades, will just ride the UJ and GU, and will wait for the US session with its retail sales which if it comes out good will help the Feds decision to increase the interest rate and we will see a further move in favour of the USD. The forecast is better figures than the month before. Let's hope for even better numbers shall we?!
If you guys think that I should keep this stuff away from this thread just tell, and I'll only discuss IB's.
Hey, don't throw it away, that's good stuff!
Cheers!
Many share my views with me. But I don't share them with them...
I work in a similar way and i think this type of analysis just helps to confirm, or in some cases negate the trade, so keep it coming pls.
Yes before starting the DIBS I had problems with the cable as well, but not any more
Fast moves today, EU and UCHF has already moved around their daily average ranges. EU low at round number and daliy s2. UCHF highs almost at yesterdays highs and close to daily M4. GU also almost done with its daliy average range and its close to the round number and just below it is yesterdays low and the monthly s1. UJ on the other hand has about 1/3 left of it's average left. It's now sitting between daily d1 and weekly r2 and might end up hitting close to 108.00 where monthly R2 and daily M4 lies.
I wont enter more trades, will just ride the UJ and GU, and will wait for the US session with its retail sales which if it comes out good will help the Feds decision to increase the interest rate and we will see a further move in favour of the USD. The forecast is better figures than the month before. Let's hope for even better numbers shall we?!
If you guys think that I should keep this stuff away from this thread just tell, and I'll only discuss IB's.
- #1,626
- Jun 12, 2008 3:30am Jun 12, 2008 3:30am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.
- #1,627
- Jun 12, 2008 3:32am Jun 12, 2008 3:32am
[/quote]Hello nowandlater, your analysis is great and i sure don't mind them. just a question though. how would a interest hike be good for the dollar. common sence tells me higher interest rate = less spending = dow negetive = weak dollar...............But then again there is no such thing as common sence in stock market and forex trading.
- #1,629
- Jun 12, 2008 3:42am Jun 12, 2008 3:42am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.
- #1,631
- Jun 12, 2008 3:54am Jun 12, 2008 3:54am
- | Joined Sep 2007 | Status: Breakout Baby | 692 Posts
Hello nowandlater, your analysis is great and i sure don't mind them. just a question though. how would a interest hike be good for the dollar. common sence tells me higher interest rate = less spending = dow negetive = weak dollar...............But then again there is no such thing as common sence in stock market and forex trading.
It just is lol... Google interest rate and the value of a currency.
- #1,632
- Jun 12, 2008 3:54am Jun 12, 2008 3:54am
Hello nowandlater, your analysis is great and i sure don't mind them. just a question though. how would a interest hike be good for the dollar. common sence tells me higher interest rate = less spending = dow negetive = weak dollar...............But then again there is no such thing as common sence in stock market and forex trading.
Increase of interest rate = economy has to be in a better condition to do so, short term higher costs, lower stock prices but on the longer term it means, companies are making more money, so they can afford it = stock markets going up = stronger dollar
Interest spreads to other countries gets smaller = carry trades less attractive = carry trades will be closed = buying back to dollar, selling the other currencies = stronger dollar
The initial reaction will be a stronger dollar. The falling DOW will have a negative impact, but a small one as there is much more money in forex than in the stock markets
- #1,633
- Jun 12, 2008 3:56am Jun 12, 2008 3:56am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
I used the first IB-bar with high of 107.32 and low of 107.18 and entered at 107.36 (buystop, high +1 for breakout and the spread of 3 is included) with stop at 107.17 (1 pip below IB). I closed 2/3 of the trade at 107.46 for the free ride. I choose this methodof free ride because daliy r1 and weekly r2 was too close. GU on the other hand I closed 1/2 at 1:1 because yesterdays lows and daily s1 and weekly s1 was further away in terms of R:R. IB here was 1.9587-1.9573 and entry was 1.9572 (sellstop) and closed 1/2 at 1.9553.
UJ is forming another IB and its high is around daily r1. It's low is at 50% of the recent high to low on lower timeframe. I might add to my position with a smaller %-size if it holds as an IB and brakes it up. It's again 19 pips stop and close to the upper resistance so I'll close 2/3 at 10 pips profit.
Indicators show the past. Price Action "Indicates" the future.
- #1,634
- Jun 12, 2008 3:57am Jun 12, 2008 3:57am
Before I start coding this, let's just see how it goes with these set of rules, and once it looks good, I'll start. I just don't want to code something useless, if it hasn't been tested throughly.
Cheers...
i ll also try on BT manually. but your indi is really help
(but why it does show 1 line only on each IB?)
- good rules to follow - maintain on the SMA side!...buy only or sell only - we re looking for the opportunity.
- #1,636
- Jun 12, 2008 4:02am Jun 12, 2008 4:02am
- | Joined Sep 2007 | Status: Breakout Baby | 692 Posts
Good Stuff NAL.
6 month ago I didn't know anything about trading or economy but I'm blessed to have found it and my passion for it is enormous as I learn every day. But I ask that you take what I write with a pinch of salt.
- #1,637
- Jun 12, 2008 4:04am Jun 12, 2008 4:04am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.
- #1,640
- Jun 12, 2008 4:24am Jun 12, 2008 4:24am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Sure.... Plz find the file attached and do let me know if any mistake I have done ??
Thanks a lot...
Keeping practising my bother.
Indicators show the past. Price Action "Indicates" the future.