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The DIBS Method... No Free Lunch continues

  • #3,361
  • Jun 30, 2008 4:06am Jun 30, 2008 4:06am
Took half off my 30 min DIBS (due to the hourly Pin Bar)from 167.34 for
92 pips. Letting the rest ride.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #3,362
  • Jun 30, 2008 4:06am Jun 30, 2008 4:06am
GU another IB formed at 1.9962 for a long if it breaks to add to the existing bull free trade.
Survive and Preserve
  • #3,363
  • Jun 30, 2008 4:22am Jun 30, 2008 4:22am
Not a fan of the GU today
"Whether you think you can or can't, you're right." Henry Ford
  • #3,364
  • Jun 30, 2008 4:25am Jun 30, 2008 4:25am
Hi guys,

Have a look at those IBs on cable today. According to the rules, we should only be looking for "long" on the last IB.

Yet, all other indications (for now) are for cable to either go down or range. Taking longs would mean - in my view in those circumstances - risking 10-15pips for nothing.

What do you think (WDYT)?
Attached Image (click to enlarge)
Click to Enlarge Name: dibs + qqe on cable.jpg Size: 183 KB
One Chart is Worth Ten Thousand Words.
  • #3,365
  • Jun 30, 2008 4:28am Jun 30, 2008 4:28am
Quoting en0x
GU another IB formed at 1.9962 for a long if it breaks to add to the existing bull free trade.
en0x, cable almost April's high, with no major retracements during the last week. Why do you think the bull would continue? There are also no current fundementals to drive USD down (or GBP up), as far as I can see (I could be wrong).

I.e. I would feel more comfortable looking for a retracement to at least 1.9840... But that's just my "guess"...
Attached Image (click to enlarge)
Click to Enlarge Name: gu on d1.jpg Size: 179 KB
One Chart is Worth Ten Thousand Words.
  • #3,366
  • Jun 30, 2008 4:30am Jun 30, 2008 4:30am
Quoting Forex007
There are also no current fundementals to drive USD down (or GBP up), as far as I can see (I could be wrong).
how about ongoing fundamentals?
  • #3,367
  • Jun 30, 2008 4:31am Jun 30, 2008 4:31am
Quoting Forex007
Hi guys,

Have a look at those IBs on cable today. According to the rules, we should only be looking for "long" on the last IB.

Yet, all other indications (for now) are for cable to either go down or range. Taking longs would mean - in my view in those circumstances - risking 10-15pips for nothing.

What do you think (WDYT)?
No definable trend today. Pass on the GU today.
Indicators show the past. Price Action "Indicates" the future.
  • #3,368
  • Jun 30, 2008 4:33am Jun 30, 2008 4:33am
Quoting Trumpcard
how about ongoing fundamentals?
No major USD news till 2GMT tmrw.
One Chart is Worth Ten Thousand Words.
  • #3,369
  • Jun 30, 2008 4:35am Jun 30, 2008 4:35am
Quoting Forex007
Hi guys,

Have a look at those IBs on cable today. According to the rules, we should only be looking for "long" on the last IB.

Yet, all other indications (for now) are for cable to either go down or range. Taking longs would mean - in my view in those circumstances - risking 10-15pips for nothing.

What do you think (WDYT)?
Forex007

What indications are you talking about?

Unus pro omnibus, omnes pro uno
  • #3,370
  • Jun 30, 2008 4:36am Jun 30, 2008 4:36am
Good point there forex007, well was stopped out at Break Even so didnt cost anything. At least the EU has a run on it.
Survive and Preserve
  • #3,371
  • Jun 30, 2008 4:44am Jun 30, 2008 4:44am
Quoting en0x
Good point there forex007, well was stopped out at Break Even so didnt cost anything. At least the EU has a run on it.
en0x,

Good job of following the rules...you had a free trade right? That is our first goal..what follows is up to the market.

Unus pro omnibus, omnes pro uno
  • #3,372
  • Jun 30, 2008 4:46am Jun 30, 2008 4:46am
Quoting moneda
Forex007

What indications are you talking about?

Cable's been flat since 00GMT, all EMAs are flat too, it reached April's high, oil is already above USD140 (true, it could go to USD150, but US and EU and Asia are doing all they can to bring it down). To start with...
One Chart is Worth Ten Thousand Words.
  • #3,373
  • Jun 30, 2008 4:47am Jun 30, 2008 4:47am
Quoting moneda
en0x,

Good job of following the rules...you had a free trade right? That is our first goal..what follows is up to the market.

Absolutely. I don't doubt the rules and PC's wisdom and experience. It's just that sometimes other "help" is... well, helpful... in seeing better what the rules are telling you
One Chart is Worth Ten Thousand Words.
  • #3,374
  • Jun 30, 2008 4:56am Jun 30, 2008 4:56am
Quoting Forex007
Cable's been flat since 00GMT, all EMAs are flat too, it reached April's high, oil is already above USD140 (true, it could go to USD150, but US and EU and Asia are doing all they can to bring it down). To start with...
Forex007,

Oh boy! ema's, qqe's...oil...I am having a nightmare! Peter....where are you? Sorry, Forex007, I am trying to find some humor in your insistence of introducing elements that are not part of DIBS.. This does not negate the fact that you may be doing what is right for you.

Unus pro omnibus, omnes pro uno
  • #3,375
  • Jun 30, 2008 5:01am Jun 30, 2008 5:01am
Hello,

We have an IB with the u/cad on the 1hour.
Unus pro omnibus, omnes pro uno
  • #3,376
  • Jun 30, 2008 5:22am Jun 30, 2008 5:22am
Quoting moneda
Hello,

We have an IB with the u/cad on the 1hour.
Hello

Yea iam long on usdcad. Anyone else?
is there any other Filter or you all trade only the IB Break, high = BUY or Low = SELL?
iam new to this Thread am i right or not, or any other filter?

Regards
sentaco
  • #3,377
  • Jun 30, 2008 5:25am Jun 30, 2008 5:25am
Quoting moneda
Forex007,

Oh boy! ema's, qqe's...oil...I am having a nightmare! Peter....where are you? Sorry, Forex007, I am trying to find some humor in your insistence of introducing elements that are not part of DIBS.. This does not negate the fact that you may be doing what is right for you.

Well, mind you, Peter also trades the news - that's not for faint-hearted and oil IS part of the equation

Do drive (an automatic) car, one needs just two pedals. To take part in F1 race - more than that...
One Chart is Worth Ten Thousand Words.
  • #3,378
  • Jun 30, 2008 5:30am Jun 30, 2008 5:30am
Quoting sentaco
Hello

Yea iam long on usdcad. Anyone else?
is there any other Filter or you all trade only the IB Break, high = BUY or Low = SELL?
iam new to this Thread am i right or not, or any other filter?

Regards
sentaco

Hi Sentaco

not sure i understand why you are long?......the pair is below Daily open so we should be just looking at shorts right?

cheers
kim
  • #3,379
  • Jun 30, 2008 5:34am Jun 30, 2008 5:34am
Gu is stuck inside a range, a break with an hourly close above or below that range with a retrace/pullback would confirmt he trend.

Using the DIBS method I have my long entry again at the top of that range and gopefully this time it stays broken
Survive and Preserve
  • #3,380
  • Jun 30, 2008 5:46am Jun 30, 2008 5:46am
Quoting jarroo
Hope you still riding this Arch.
Holding on like my life depended on it! Just waiting to see how far this baby will go.... +260p so far with 100 locked in.
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