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The DIBS Method... No Free Lunch continues

  • #1,941
  • Jun 17, 2008 5:47am Jun 17, 2008 5:47am
Hello,

Sitting on my hands ...but may have IBs on three of the four majors...IF it holds for the next 15 min....
Unus pro omnibus, omnes pro uno
  • #1,942
  • Jun 17, 2008 5:49am Jun 17, 2008 5:49am
Quoting NowAndLater
Nicely put HT. I have a suggestion for you: Print out this thread, and while your patients are waiting in the waiting room let them read it. And you should probably have a bigscreen TV with the 4 majors showing in the same screen. Then they should be occupied.
Then you could relate chart patterns to medical conditions.
Good Trading
  • #1,943
  • Jun 17, 2008 5:50am Jun 17, 2008 5:50am
Good day all,

I can see IB forming on EURUSD and USDCHF presently. let's see if the formation will be full before the closing of this present candle.

any discussion will be well appreaciated
  • #1,944
  • Jun 17, 2008 5:53am Jun 17, 2008 5:53am
At this moment I can see also an IB on USDJPY.
  • #1,945
  • Jun 17, 2008 5:58am Jun 17, 2008 5:58am
Quoting ACartwright
Am I correct in thinking it could be a short trade also?

Al
No
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #1,946
  • Jun 17, 2008 5:59am Jun 17, 2008 5:59am
and on E/J
  • #1,947
  • Jun 17, 2008 5:59am Jun 17, 2008 5:59am
Fellows...

Some IBs forming... everybody waiting for US Housing news... None of them on the Hot Hand...

Oil is falling...

German ZEW sentiment came very bad...

I can hear "Psycho"'s theme playing smoothly in the air....

http://img2.timeinc.net/ew/dynamic/i...s/psycho_l.jpg


Many share my views with me. But I don't share them with them...
  • #1,948
  • Jun 17, 2008 6:01am Jun 17, 2008 6:01am
EU DIBS:
If this candle hold we have avery nice setup IMO. We are below the daily open, weekly pivot holds as resistance on the retracement which is at 50% of the last move today. The weekly pivot point is a joint point with the 38% fib and a continuation of the dollar trend from last week (H4 chart). See also how the monthly pivot point held earlier today, which I think is a bearish sign. Lets see what happens.

The setups on UCHF and UJ looks good as well. Just beware of the US news in 1,5 hour but hopefully we'll be in free ride by then and the news won't matter. If to close to the news I'll wait.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EU.JPG Size: 145 KB
Click to Enlarge Name: EU H4.JPG Size: 119 KB
  • #1,949
  • Jun 17, 2008 6:05am Jun 17, 2008 6:05am
Quoting aud
Then you could relate chart patterns to medical conditions.
Man, that's a good idea!!!

http://elsmar.com/jpg/eeg_scan_example.jpg


That's an EEG, a chart that shows cerebral activity... Come on, a chart is a chart! Maybe that part on the right could be somehow correlated to news trading???? Got to study a little more...

Cheers!
Many share my views with me. But I don't share them with them...
  • #1,950
  • Jun 17, 2008 6:13am Jun 17, 2008 6:13am
Quoting TradeStar
No
Why?

The bottom of the IB is below the daily open!

AL
  • #1,951
  • Jun 17, 2008 6:13am Jun 17, 2008 6:13am
Quoting HouseTrader
Fellows...

Some IBs forming... everybody waiting for US Housing news... None of them on the Hot Hand...

Oil is falling...

German ZEW sentiment came very bad...




In fact I would say that EURUSD is the hot hand (to the sell side) because of the ZEW. If the US news supports the USD then I think the EUR will drop more than CHF and JPY and I'm playing this baby.
  • #1,952
  • Jun 17, 2008 6:15am Jun 17, 2008 6:15am
Quoting ACartwright
Why?

The bottom of the IB is below the daily open!

AL
You are right AC, you could have played this to the downside, but based on the newly formed IB I think that only up is valid now
  • #1,953
  • Jun 17, 2008 6:16am Jun 17, 2008 6:16am
Quoting NowAndLater
EU DIBS:
If this candle hold we have avery nice setup IMO. We are below the daily open, weekly pivot holds as resistance on the retracement which is at 50% of the last move today. The weekly pivot point is a joint point with the 38% fib and a continuation of the dollar trend from last week (H4 chart). See also how the monthly pivot point held earlier today, which I think is a bearish sign. Lets see what happens.

The setups on UCHF and UJ looks good as well. Just beware of the US news in 1,5 hour but hopefully we'll be in free ride by then and the news won't matter. If to close to the news I'll wait.
I'm with you on this NAL...

IMO, only some catastrophic US news could wake up the EUR bulls... As I mentioned before, Oil is falling, ZEW came bad... just my opinion...

Cheers!

HT

PS: didn't see your last post... I meant "none in the Hot Hand" considering only that price action is still above the week's open, but taking the factors you mentioned, I agree with you.

Damn! Got to go see my im-patients!
Many share my views with me. But I don't share them with them...
  • #1,954
  • Jun 17, 2008 6:17am Jun 17, 2008 6:17am
Quoting HouseTrader
I'm with you on this NAL...

IMO, only some catastrophic US news could wake the EUR bulls... As I mentioned before, Oil is falling, ZEW came bad... just my opinion...

Cheers!

HT
Excellent, 2 minds can't be wrong (can they??)
  • #1,955
  • Jun 17, 2008 6:31am Jun 17, 2008 6:31am
The eur/usd is out of whack with the gbp/usd and the usd/jpy, something has got to give.
Good Trading
  • #1,956
  • Edited 7:04am Jun 17, 2008 6:50am | Edited 7:04am
Quoting jarroo
Actually the lows were the same and I took it. I'm not using my regular charts because I"m not at home. I'll post those charts when I get home they may look different.
Boy was I off when I look at my regular charts on the Usd/Cad. That was no IB. It was an IB on the web forex chart I was veiwing. I took it short at 1.0215. My trade risk was 12 pips and I grabbed 20 pips on the 1st half and let the second half stop out.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #1,957
  • Jun 17, 2008 6:52am Jun 17, 2008 6:52am
Quoting jarroo
Boy was I off when I look at my regular charts on the Usd/Cad. That was no IB. It was an IB on the web forex chart I was veiwing. I took it short at 1.0215. My trade risk was 12 pips at grabbed 20 pips on the 1st half and let the second half stop out.
Jaroo,

This showed an inside bar on my metatrader!!!

Al
  • #1,958
  • Jun 17, 2008 6:56am Jun 17, 2008 6:56am
HI guys

I got wind the news will be positive. So if you dont mind pull the trigger. But dont say I asked you to... check your chart

Ps... anybody tell me how i can use emoticons in my posts here. Cant see where.
  • #1,959
  • Jun 17, 2008 6:58am Jun 17, 2008 6:58am
Quoting ACartwright
Jaroo,

This showed an inside bar on my metatrader!!!

Al
Yeah my other platform shows an IB at 0100 EST .
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #1,960
  • Jun 17, 2008 7:03am Jun 17, 2008 7:03am
GBP/CHF just formed. I've placed a sellstop on demo.
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