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The DIBS Method... No Free Lunch continues

  • #4,321
  • Aug 4, 2008 2:44am Aug 4, 2008 2:44am
Usd/Jpy:
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Indicators show the past. Price Action "Indicates" the future.
  • #4,322
  • Aug 4, 2008 2:50am Aug 4, 2008 2:50am
wow! Nice work jarro............... this will filter bad entry
  • #4,323
  • Aug 4, 2008 2:54am Aug 4, 2008 2:54am
Quoting Naijafx
wow! Nice work jarro............... this will filter bad entry
Price tends to follow the area of least resistence, like water. Not aways but often enough to give you a little bit of an edge.
Indicators show the past. Price Action "Indicates" the future.
  • #4,324
  • Aug 4, 2008 2:58am Aug 4, 2008 2:58am
Eur/Usd:
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Indicators show the past. Price Action "Indicates" the future.
  • #4,325
  • Aug 4, 2008 3:06am Aug 4, 2008 3:06am
wow! Nice work jarro............... this will filter bad entry
  • #4,326
  • Aug 4, 2008 3:07am Aug 4, 2008 3:07am
How nice was this short DIBS signal on the Gbp/Usd. I wonder where it might stall or bounce up.
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Indicators show the past. Price Action "Indicates" the future.
  • #4,327
  • Aug 4, 2008 3:11am Aug 4, 2008 3:11am
JARRO would this have been a valid entry long fallowing the rules...

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 19 KB
  • #4,328
  • Aug 4, 2008 3:15am Aug 4, 2008 3:15am
Quoting Shermenator
JARRO would this have been a valid entry long following the rules...
That is a valid Inside Bar but you have to play it off the Open of the day, 0600 GMT.
Indicators show the past. Price Action "Indicates" the future.
  • #4,329
  • Aug 4, 2008 3:17am Aug 4, 2008 3:17am
wow! Nice work jarro............... this will filter bad entry
  • #4,330
  • Aug 4, 2008 3:19am Aug 4, 2008 3:19am
Quoting Naijafx
wow! Nice work jarro............... this will filter bad entry
Deja vu all over again.
Indicators show the past. Price Action "Indicates" the future.
  • #4,331
  • Aug 4, 2008 3:20am Aug 4, 2008 3:20am
Quoting jarroo
That is a valid Inside Bar but you have to play it off the Open of the day, 0600 GMT.

Let me make sure I got this right ...Is the candle with the green arrow below the 6 gmt candle....and if this is the candle would that mean that any insidebar should be taken only long as long as price is above the horizontal line...let me know if this is correct thanks...
  • #4,332
  • Aug 4, 2008 3:32am Aug 4, 2008 3:32am
Quoting Shermenator
Let me make sure I got this right ...Is the candle with the green arrow below the 6 gmt candle....and if this is the candle would that mean that any insidebar should be taken only long as long as price is above the horizontal line...let me know if this is correct thanks...
Your 1st IB was good, but you would have to wait until the Open of the Day to trade it. Even though the next bar broke the top, you would not play this because its not at the Open of the Day. It was at 0300 GMT, so it a no trade.

The blue circle (an IB on my chart) was at 0500 GMT but was played at 0600 GMT, Open of the day.
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  • #4,333
  • Aug 4, 2008 3:40am Aug 4, 2008 3:40am
Quoting jarroo
Your 1st IB was good, but you would have to wait until the Open of the Day to trade it. Even though the next bar broke the top, you would not play this because its not at the Open of the Day. It was at 0300 GMT, so it a no trade.

The blue circle (an IB on my chart) was at 0500 GMT but was played at 0600 GMT, Open of the day.

Perfectly understood nowthanks for all the help...I took the long myself and lost 20 pips and then took the short and made 44 for the night....thanks alot..now I know I have to play the inside bar after London open 3 am...thanks
  • #4,334
  • Aug 4, 2008 3:57am Aug 4, 2008 3:57am
Looks like an IB forming on GBP/USD! Hourly chart
  • #4,335
  • Aug 4, 2008 4:00am Aug 4, 2008 4:00am
Take a look at my green arrow jarro...if you look at it the low of the candle (wick) is lower then the previous candle. Does this eliminate it as an inside bar or you foucusing on the body of the inside bar.

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  • #4,336
  • Aug 4, 2008 4:02am Aug 4, 2008 4:02am
Quoting ACartwright
Looks like an IB forming on GBP/USD! Hourly chart
Yes it is (give or take a pip). Have some S/R level below.
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  • #4,337
  • Aug 4, 2008 4:07am Aug 4, 2008 4:07am
Quoting Shermenator
Take a look at my green arrow jarro...if you look at it the low of the candle (wick) is lower then the previous candle. Does this eliminate it as an inside bar or you foucusing on the body of the inside bar.
You look at the entire candle formation, body and wick. It's an IB on my chart. Looking at past candles I feel a pip or two does not make that much of a difference. Just blame bad demo data feed.
Indicators show the past. Price Action "Indicates" the future.
  • #4,338
  • Aug 4, 2008 4:23am Aug 4, 2008 4:23am
Quoting ACartwright
Looks like an IB forming on GBP/USD! Hourly chart
It's at the bottom of the channel, and coming down to a good support in form of s/r area, weekly s1, daily s2, and fib 61.8% of the move up from 14/May to 15/July

So I would be a little carefull with this short. The stoploss is 19+2+3 (IB size + breakout 1pip up and down + spread) = 24 which would mean that price would be in that support area so I'm looking for an earlier BE point. I'm playing it with half my normal position size and closing 2/3 at 2:1, which means I'll close 2/3 of my position at 1.9670 with entry at 1.9682 and sl at 1.9706 (which includes the spread).
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  • #4,339
  • Aug 4, 2008 4:30am Aug 4, 2008 4:30am
Quoting NowAndLater
It's at the bottom of the channel, and coming down to a good support in form of s/r area, weekly s1, daily s2, and fib 61.8% of the move up from 14/May to 15/July

So I would be a little carefull with this short. The stoploss is 19+2+3 (IB size + breakout 1pip up and down + spread) = 24 which would mean that price would be in that support area so I'm looking for an earlier BE point. I'm playing it with half my normal position size and closing 2/3 at 2:1, which means I'll close 2/3 of my position at 1.9670 with entry at 1.9682 and sl at 1.9706 (which includes the spread).
Nice NAL.
My thoughts exactly. I may take it, but no taking extra pips from the free trade placement. Grab it quick.
Indicators show the past. Price Action "Indicates" the future.
  • #4,340
  • Aug 4, 2008 4:39am Aug 4, 2008 4:39am
Quoting NowAndLater
It's at the bottom of the channel, and coming down to a good support in form of s/r area, weekly s1, daily s2, and fib 61.8% of the move up from 14/May to 15/July

So I would be a little carefull with this short. The stoploss is 19+2+3 (IB size + breakout 1pip up and down + spread) = 24 which would mean that price would be in that support area so I'm looking for an earlier BE point. I'm playing it with half my normal position size and closing 2/3 at 2:1, which means I'll close 2/3 of my position at 1.9670 with entry at 1.9682 and sl at 1.9706 (which includes the spread).
Thanks Nal!

Al
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