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  • #3,721
  • Jul 9, 2008 4:13am Jul 9, 2008 4:13am
We have an IB on GU, and there's a triangle as well. USD strong this morning across the majors but is now in retracement. If we get a continuation it might break the IB down and at the same time break the triangle for a nice move. Support also at around 1.9660 (support area and weekly s2) so I'll close 2/3 and 2:1 which will be around that support area.
Attached Image (click to enlarge)
Click to Enlarge Name: GU.JPG Size: 137 KB
  • #3,722
  • Jul 9, 2008 5:17am Jul 9, 2008 5:17am
Quoting NowAndLater
We have an IB on GU, and there's a triangle as well. USD strong this morning across the majors but is now in retracement. If we get a continuation it might break the IB down and at the same time break the triangle for a nice move. Support also at around 1.9660 (support area and weekly s2) so I'll close 2/3 and 2:1 which will be around that support area.
Price moved all the way up to the upper side of the triangle and is now consolidating around the daily pivot point. We have the same pattern on EU. And both EU and GU had an IB on the daily yesterday, and todays move so far is within yesterdays move, could be another daily IB. A breakout is coming soon, if not today then I think tomorrow. But who cares what I think (or anybody else for that matter)? The only thing that is right is PriceAction, lets follow that.
  • #3,723
  • Edited 5:27am Jul 9, 2008 5:23am | Edited 5:27am
Quoting NowAndLater
I would like to make a mq4 out of that one, just two question:
1) Could you explain this in detail: Close-LLV(Low,STPeriods)
2) What does the Periods represent?
Otherwise I understand the concept (I think)
Hi,
Its strange, but it seems obvious to me:
Periods are bars/candles (e.g 1 hr, 1day etc).
Thus for a 1hr (DIBS) chart, Bemac's defaults are:
STPeriods = 45 bars i.e. the last 45 hours
MTPeriods = 100 bars i.e. the last 100 hours
LTperiods = 200 bars i.e. the last 200 hours

So Close-LLV(Low,STPeriods) means:
the latest (bar) Close minus the lowest low value of the (bar) Low in the last 45 bars (or hours in this case)

Ian
  • #3,724
  • Jul 9, 2008 5:26am Jul 9, 2008 5:26am
Quoting ianf0ster
Hi,
Its strange, but it seems obvious to me:
Periods are bars/candles (e.g 1 hr, 1day etc).
Thus for a 1hr (DIBS) chart, Bemac's defaults are:
STPeriods = 45 bars i.e. the last 45 hours
MTPeriods = 100 bars i.e. the last 100 hours
LTperiods = 200 bars i.e. the last 200 hours

So Close-LLV(Low,STPeriods) means:
the latest Close minus the lowest Low in the last 45 bars (or hours in this case)

Ian
Thats what I thought too but wanted a confirmation, I'll start cracking on some code
  • #3,725
  • Jul 9, 2008 6:04am Jul 9, 2008 6:04am
What was that spike? I didn't see any news.
  • #3,726
  • Jul 9, 2008 6:43am Jul 9, 2008 6:43am
Quoting NowAndLater
Price moved all the way up to the upper side of the triangle and is now consolidating around the daily pivot point. We have the same pattern on EU. And both EU and GU had an IB on the daily yesterday, and todays move so far is within yesterdays move, could be another daily IB. A breakout is coming soon, if not today then I think tomorrow. But who cares what I think (or anybody else for that matter)? The only thing that is right is PriceAction, lets follow that.


Hey, mate... nice call on the 8H charts!

I see a double IB on daily forming too. This is a strong breakout signal. I'm tired of this YO-YO stuff, and my 1-week vacation is almost over... I hope tomorrow we get this move ....

http://www.wlra.us/wl/wlyoyo.jpg

Cheers!
Many share my views with me. But I don't share them with them...
  • #3,727
  • Jul 9, 2008 6:51am Jul 9, 2008 6:51am
Quoting HouseTrader


Hey, mate... nice call on the 8H charts!

I see a double IB on daily forming too. This is a strong breakout signal. I'm tired of this YO-YO stuff, and my 1-week vacation is almost over... I hope tomorrow we get this move ....

http://www.wlra.us/wl/wlyoyo.jpg

Cheers!
Hey HT,

That YO-YO is so huge it must belong to one of the interbanks!
Unus pro omnibus, omnes pro uno
  • #3,728
  • Jul 9, 2008 6:57am Jul 9, 2008 6:57am
Quoting moneda
Hey HT,

That YO-YO is so huge it must belong to one of the interbanks!
with a yo-yo that big...its only a matter of time before the string breaks and it shoots up or dawn...be patient


ps just made myself a signature. hope u like.
  • #3,729
  • Jul 9, 2008 6:57am Jul 9, 2008 6:57am
DIB on GBP/USD
  • #3,730
  • Jul 9, 2008 7:00am Jul 9, 2008 7:00am
Quoting bobbybrown
with a yo-yo that big...its only a matter of time before the string breaks and it shoots up or dawn...be patient


ps just made myself a signature. hope u like.


Unus pro omnibus, omnes pro uno
  • #3,731
  • Jul 9, 2008 7:04am Jul 9, 2008 7:04am
Quoting HouseTrader


Hey, mate... nice call on the 8H charts!

I see a double IB on daily forming too. This is a strong breakout signal. I'm tired of this YO-YO stuff, and my 1-week vacation is almost over... I hope tomorrow we get this move ....

http://www.wlra.us/wl/wlyoyo.jpg

Cheers!
Tomorrow the interest rate decision from UK comes, after that we shall have a move (we must or I'm calling someone in a big bank to move this thing because I'm tires of this, ok I don't know one there but something must be done!). On GU we are in an interesting zone. A move from here should be a clear one, especially after this consolidation.
And I'm attaching a first version of the TrendSearcher.

Cheers
Attached Image (click to enlarge)
Click to Enlarge Name: GU.JPG Size: 148 KB
Attached File(s)
File Type: mq4 TrendSearcher.mq4   4 KB | 996 downloads
  • #3,732
  • Jul 9, 2008 7:06am Jul 9, 2008 7:06am
Quoting ACartwright
DIB on GBP/USD
I'm on the sidelines today, will wait till UK interest rate tomorrow
  • #3,733
  • Jul 9, 2008 7:16am Jul 9, 2008 7:16am
Quoting NowAndLater
I'm on the sidelines today, will wait till UK interest rate tomorrow
It's going to remain the same tomorrow at 5.00% - Just gonna get in early.

(If it breaks of course)

It is 37 pips until I see the next resistance level 1.9787.
  • #3,734
  • Jul 9, 2008 7:16am Jul 9, 2008 7:16am
Quoting NowAndLater
Tomorrow the interest rate decision from UK comes, after that we shall have a move (we must or I'm calling someone in a big bank to move this thing because I'm tires of this, ok I don't know one there but something must be done!). On GU we are in an interesting zone. A move from here should be a clear one, especially after this consolidation.
And I'm attaching a first version of the TrendSearcher.

Cheers


Really? I'm so disappointed.... I was sure you had a inner contact.....

Oh, brother.... thank you so much for this coding stuff.... when I saw Bemac's call and arrived to that "letters soup" I just got nuts! That's too far from my thick mind to reach.... I can read a CT scan nicely, I can even read a chart (!) but for this coding thing I'm a poor blind man.....

Great job again, mate!

Cheers!

PS: Itching hands waiting for that breakout (I guess tomorrow)...
Many share my views with me. But I don't share them with them...
  • #3,735
  • Jul 9, 2008 7:43am Jul 9, 2008 7:43am
Hi Guys

Wonderful method and thread. Top stuff from all the contributers here. Anyway thought I'd drop a post. I just took a trade on aud/usd. I was a bit apprehensive as the aussie has been weak all week and the only reason i took this is due to triple rollover today and seeing bullish divergence. Oh I love using Demark Trendlines with this method. I often find a valid break is poweful when you see DIB setup + trendline break.

I use MT4 for charts and use live money to trade with a spreadbet company. Early days for me with this method.

Anyway lets see how this one pans out.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd.jpg Size: 186 KB
  • #3,736
  • Jul 9, 2008 7:48am Jul 9, 2008 7:48am
Man, really crappy week. UJ long trigger by one or two pips then reversed. Not sure I've done anything but lose on DIBs this month.
  • #3,737
  • Jul 9, 2008 7:56am Jul 9, 2008 7:56am
Quoting Catch-22
Man, really crappy week. UJ long trigger by one or two pips then reversed. Not sure I've done anything but lose on DIBs this month.
Hi Catch,

Can you poss post a chart or let me know when you got in.

Al
  • #3,738
  • Jul 9, 2008 8:12am Jul 9, 2008 8:12am
Got in just as it broke here
Attached Image (click to enlarge)
Click to Enlarge Name: uj-dibs.gif Size: 17 KB
  • #3,739
  • Jul 9, 2008 8:13am Jul 9, 2008 8:13am
Quoting Catch-22
Man, really crappy week. UJ long trigger by one or two pips then reversed. Not sure I've done anything but lose on DIBs this month.
Was your IB of the 0900MT bar just after the USD bull? If so I think you got in on the 1100GMT bar up and had a loss. Here's why I wouldn't take that (again very conservative with my selection this week):
After that IB there was a big bar down so that IB wasn't valid anymore since you had a much bigger retracement than just the IB. So a break up from that IB isn't a continuation in the trend with a stop below the IB, since the new low was below the second bar and that low was much lower than the IB's low. Hope I'm making sense here.
Anyway you had a small loss and that's something we can live with!

EDIT: you posted your chart while I was writing.
  • #3,740
  • Jul 9, 2008 8:17am Jul 9, 2008 8:17am
Quoting HouseTrader


Really? I'm so disappointed.... I was sure you had a inner contact.....

Oh, brother.... thank you so much for this coding stuff.... when I saw Bemac's call and arrived to that "letters soup" I just got nuts! That's too far from my thick mind to reach.... I can read a CT scan nicely, I can even read a chart (!) but for this coding thing I'm a poor blind man.....

Great job again, mate!

Cheers!

PS: Itching hands waiting for that breakout (I guess tomorrow)...
You are funny Doc! Your posts make me laugh, and everytime my girlfriend passes by she thinks I'm weird because I'm laughing by myself (I guess laughing alone and speaking to yourself, which happens by the way, are the first steps to the mental hosptial). And you're welcaome bro!
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