I can't see or post my regular charts, but did we have a break of the bottom of the Euro 0000 EST one hour IB?
there is in my chart.
yes, it shows sell..
but i dont like to put sell on EU.
i just wait for buy signal on EU hehe
The DIBS Method... No Free Lunch continues
- #2,521
- Jun 23, 2008 1:01am Jun 23, 2008 1:01am
there is in my chart.
yes, it shows sell..
but i dont like to put sell on EU.
i just wait for buy signal on EU hehe
- #2,524
- Jun 23, 2008 1:17am Jun 23, 2008 1:17am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.
- #2,525
- Jun 23, 2008 1:17am Jun 23, 2008 1:17am
- Joined Mar 2007 | Status: It's all just noise. | 1,681 Posts
- #2,535
- Jun 23, 2008 2:04am Jun 23, 2008 2:04am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Took it and it's on a free ride now.
Mondays have always been good for DIBS trades.
Indicators show the past. Price Action "Indicates" the future.
- #2,536
- Jun 23, 2008 2:10am Jun 23, 2008 2:10am
Hey guys, here are the DIBS setups I'll be looking for this week:
EUR/USD: Only trade long DIBS setups and with long term holding. DIBS often form at important levels of support and resistance, and I'll be watching for long DIBS setups at 1.5640, 1.5550, and 1.5500. 1:1 on half, let the other half ride. COT slightly bullish. EUR/USD is like a beach ball being held under water by mean reversion traders who just can't seem to believe that it could go any higher...watch them run for cover (literally) on the next challenge of 1.6000.
USD/CHF: Not the hot hand this week in my book. COT positioning is 1:2 long/short, which is against the long-term trend. This indicates a grinding medium term range unless some big news or risk aversion breaks it out. Might take nice tight DIBS exiting full position at 1:1 or 1:2 RR.
USD/JPY: The result of two awful central banks competing for Worst Monetary Policy award. COT is roughly 50:50 and price action is trapped in a slightly rising four hour channel and 1 hour falling channel. Keep any trades short term and tight.
and now...the HOT PAIR OF THE WEEK!
GBP/USD: Open up a daily chart and draw a trendline from the november high down to where we are now. Then make a horizontal line at 1.9400. If you don't start salivating immediately, maybe you should find another occupation, haha. We are trapped in a tightening wedge from 1.9400 to 1.9800. DIBS could work long or short here. We are at the top of the range, and DIBS could send us back to the bottom OR it could blast us through 1.9800. If that happens, grab something and hold on. If you can get a nice tight long DIBS entry at the top there...might be Christmas in July. I personally favor longs here. COT open interest is high, and there are twice as many shorts as longs. Break 1.9800...and there will be blood.
It's gonna be a great week! What are you guys looking for?
EUR/USD: Only trade long DIBS setups and with long term holding. DIBS often form at important levels of support and resistance, and I'll be watching for long DIBS setups at 1.5640, 1.5550, and 1.5500. 1:1 on half, let the other half ride. COT slightly bullish. EUR/USD is like a beach ball being held under water by mean reversion traders who just can't seem to believe that it could go any higher...watch them run for cover (literally) on the next challenge of 1.6000.
USD/CHF: Not the hot hand this week in my book. COT positioning is 1:2 long/short, which is against the long-term trend. This indicates a grinding medium term range unless some big news or risk aversion breaks it out. Might take nice tight DIBS exiting full position at 1:1 or 1:2 RR.
USD/JPY: The result of two awful central banks competing for Worst Monetary Policy award. COT is roughly 50:50 and price action is trapped in a slightly rising four hour channel and 1 hour falling channel. Keep any trades short term and tight.
and now...the HOT PAIR OF THE WEEK!
GBP/USD: Open up a daily chart and draw a trendline from the november high down to where we are now. Then make a horizontal line at 1.9400. If you don't start salivating immediately, maybe you should find another occupation, haha. We are trapped in a tightening wedge from 1.9400 to 1.9800. DIBS could work long or short here. We are at the top of the range, and DIBS could send us back to the bottom OR it could blast us through 1.9800. If that happens, grab something and hold on. If you can get a nice tight long DIBS entry at the top there...might be Christmas in July.
I personally favor longs here. COT open interest is high, and there are twice as many shorts as longs. Break 1.9800...and there will be blood.It's gonna be a great week! What are you guys looking for?
- #2,538
- Jun 23, 2008 2:15am Jun 23, 2008 2:15am
- | Joined Mar 2008 | Status: ... I was aiming at the horse! | 913 Posts
Rocking the DIBS.
Mondays have always been good for DIBS trades.
I wasn't able to be an early bird on EUR today.... but still got a free ride on Swissy (on 30m...
) let's see how it goes...Cheers!
HT
PS: Could have got the GBP on 30m too, but still got some trauma from past GBP trades.... working on it with my shrink
Many share my views with me. But I don't share them with them...
- #2,539
- Jun 23, 2008 2:16am Jun 23, 2008 2:16am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Moved my stop loss to break even from Thursday (6/19/08). Looking for a long term ride.
Indicators show the past. Price Action "Indicates" the future.
