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The DIBS Method... No Free Lunch continues

  • #3,641
  • Jul 6, 2008 10:53pm Jul 6, 2008 10:53pm
Its an Engulfing pattern no? i thought thats what candlesticks pattern names it as
  • #3,642
  • Jul 6, 2008 11:00pm Jul 6, 2008 11:00pm
Quoting dwkm
Its an Engulfing pattern no? i thought thats what candlesticks pattern names it as
Yes, same thing.

Very powerful Price Action at swing Highs/Lows. Throw in some other confluences like trendlines and S/R levels, and you have a high probability trade. The DIBS method can get us in early on this Price Action or in can support a DIBS trade.
Indicators show the past. Price Action "Indicates" the future.
  • #3,643
  • Jul 6, 2008 11:01pm Jul 6, 2008 11:01pm
Quoting jarroo
Samething : Bullish Outside Bar.

BEarish Outside Vertical Bar on the Euro Daily.
Is it bearish??
Will it go lower??

sonic
  • #3,644
  • Jul 6, 2008 11:07pm Jul 6, 2008 11:07pm
Quoting sonicdeejay
Will it go lower??

sonic
Looks like the Price Action may support it to go lower. Hard to say. This is where the DIBS method comes into play. If a DIBS trade to the short side presents itself, I would take like candy from a baby. ( sorry kids)
Indicators show the past. Price Action "Indicates" the future.
  • #3,645
  • Jul 6, 2008 11:10pm Jul 6, 2008 11:10pm
rofl.. we're all KIDS at heart somewhere deep down inside .. growing up is only the outer physique... i want my CANDY
  • #3,646
  • Jul 6, 2008 11:27pm Jul 6, 2008 11:27pm
Morning Campers,

I am unable to post a chart a the moment but i would like to bring peples attention to the IB on H1 USD/CHF. I know it might be a little early for some people but IMHO i believe it to be valid as:

  1. The pair is one of the strongest movers so far today
  2. The IB is an IB (not even with previous or slightly out)
  3. There is a nice 10 pip SL
  4. The break, when it occurs, will be post 6AM GMT

Thoughts appreciated.

Nick

The customer is always right!
  • #3,647
  • Jul 7, 2008 1:54am Jul 7, 2008 1:54am
Sometimes they all break the IB at 0500
"Whether you think you can or can't, you're right." Henry Ford
  • #3,648
  • Jul 7, 2008 2:09am Jul 7, 2008 2:09am
Quoting Pipfox
Morning Campers,

I am unable to post a chart a the moment but i would like to bring peples attention to the IB on H1 USD/CHF. I know it might be a little early for some people but IMHO i believe it to be valid as:

  1. The pair is one of the strongest movers so far today
  2. The IB is an IB (not even with previous or slightly out)
  3. There is a nice 10 pip SL
  4. The break, when it occurs, will be post 6AM GMT

Thoughts appreciated.

Nick

Looked good to me. I'm long. Will take half profit at 1.0345 and let the other half run . . .

  • #3,649
  • Jul 7, 2008 2:33am Jul 7, 2008 2:33am
Quoting Pipfox
Morning Campers,

I am unable to post a chart a the moment but i would like to bring peples attention to the IB on H1 USD/CHF. I know it might be a little early for some people but IMHO i believe it to be valid as:

  1. The pair is one of the strongest movers so far today
  2. The IB is an IB (not even with previous or slightly out)
  3. There is a nice 10 pip SL
  4. The break, when it occurs, will be post 6AM GMT

Thoughts appreciated.

Nick

Are you talking about the 3 GMT bar? I'm curious what you find special about it. It looks just like pre-opening ranging to me.
  • #3,650
  • Jul 7, 2008 3:15am Jul 7, 2008 3:15am
Quoting Lancaster
Are you talking about the 3 GMT bar? I'm curious what you find special about it. It looks just like pre-opening ranging to me.
I think he is.. Well i also took it..Because of the ib, and the strength north AND the break of monthly pivot, and the small risk vs reward...
I admit it wasnt a "standard DIBS ". I normaly use the 05.00 GMT candle..
I only traded 1 lot and closed my position at 1.0320, a bit early perhaps but 20 pip is 20 pip for me...
Happy trading folks.
/kojak
  • #3,651
  • Jul 7, 2008 3:17am Jul 7, 2008 3:17am
Yes i am Lancaster. I know its slightly outside of the rules but it was after the initial Asian move, market consolidates and then breaks again.
I was happy to take it as it was one of the biggest moves this morning and thats what we are loking for, not just inside bars but IB's that are on a large move, giving us move chance of a greater follow through.

I took Cabe, USD/CHF and USD/JPY and i am a very happy chappy now!
The customer is always right!
  • #3,652
  • Jul 7, 2008 5:37am Jul 7, 2008 5:37am
Quoting f4mnect
Added the Pips from Daily Open to the Graphs. But you still need to add the daily open values to the spreadsheet, everything eles is automatic current Bid/ask/high/low/spread
Great Excel spreadsheet from f4mnect! http://www.forexfactory.com/showthre...67#post2083867
Thanks for all your hard work.

Does anyone know how to get the Daily Open price? I have tried coding it ( =MT4|OPEN!EURUSD ) but could not find the secret code. Strange 'cause you can get the high and low, bid and ask. but not the open. There must be a way to do it!! I have just added the AUD and NZD to the spreadsheet but would love to be able to automate the Daily Open price. Thanks in advance.
Never argue with a fool....
  • #3,653
  • Jul 7, 2008 6:24am Jul 7, 2008 6:24am
nice trade on EUR_GBP...
Attached Image (click to enlarge)
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  • #3,654
  • Jul 7, 2008 6:49am Jul 7, 2008 6:49am
... and on EUR_CHF...
Attached Image (click to enlarge)
Click to Enlarge Name: eurchf.gif Size: 16 KB
  • #3,655
  • Jul 7, 2008 6:50am Jul 7, 2008 6:50am
Quoting Alberto_Jazz
... and on EUR_CHF...


Molto Bene !

Unus pro omnibus, omnes pro uno
  • #3,656
  • Jul 7, 2008 7:09am Jul 7, 2008 7:09am
Any thoughts on the ib that has just formed on this pair?
Think it ticks the boxes but....price is very close to high of the day
  • #3,657
  • Jul 7, 2008 7:43am Jul 7, 2008 7:43am
Is the idea to take a lot of small losses/ break even trades with a few really good winners? Looking at a few charts such as gbp/usd, usd/jpy, usd/chf the market usually "breaks out" on both sides, giving a loss or break even if you're lucky...
  • #3,658
  • Jul 7, 2008 8:12am Jul 7, 2008 8:12am
Hello,


I need a confirmation ...... when trading the DIBS on a 4hr. timeframe the open(which determines an up/down day) would be the close of the previous week (friday)?

Thanks
Unus pro omnibus, omnes pro uno
  • #3,659
  • Jul 7, 2008 9:03am Jul 7, 2008 9:03am
Nucking Futs gentile made a indicator to show the weekly line. But i don't know if it should be:

1-open of the week
2- first open at 6 GMT of the week
3- maybe the close of the previous...

what is the correct? Peter never answered that (i as the first to made this question).

thanks in advance.

and thanks againg Nucking.
  • #3,660
  • Jul 7, 2008 9:37am Jul 7, 2008 9:37am
Hey guys

just wanted to compare notes with everyone........i had 2 trades today and 2 losses how does that compare with you all?

GBPUSD short stopped at -25
EJ long stopped -21

cheers
kim
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