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The DIBS Method... No Free Lunch continues

  • #4,341
  • Aug 4, 2008 2:48am Aug 4, 2008 2:48am
grab'em quick my brothers.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #4,342
  • Aug 4, 2008 2:50am Aug 4, 2008 2:50am
Quoting jarroo
grab'em quick my brothers.
and sisters. Sorry kimmy.
Indicators show the past. Price Action "Indicates" the future.
  • #4,343
  • Aug 4, 2008 2:57am Aug 4, 2008 2:57am
Quoting jarroo
and sisters. Sorry kimmy.


  • #4,344
  • Aug 4, 2008 3:17am Aug 4, 2008 3:17am
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).
Have now closed 2/3 at 1.9670 and price has stalled at the s/r area, let's hope for a break shall we
  • #4,345
  • Aug 4, 2008 3:19am Aug 4, 2008 3:19am
Quoting NowAndLater
Have now closed 2/3 at 1.9670 and price has stalled at the s/r area, let's hope for a break shall we
Nicely done NAL.
Indicators show the past. Price Action "Indicates" the future.
  • #4,346
  • Aug 4, 2008 3:22am Aug 4, 2008 3:22am
hi all

did anyone take the GY short ?
  • #4,347
  • Aug 4, 2008 3:23am Aug 4, 2008 3:23am
Quoting jarroo
Nicely done NAL.
Cheers mate. Too bad I missed the perfect IB of the daily open but you can take them all...
  • #4,348
  • Aug 4, 2008 3:26am Aug 4, 2008 3:26am
Quoting NowAndLater
Cheers mate. Too bad I missed the perfect IB of the daily open but you can take them all...
Poor due diligence on my part. Damn neighbor.
Indicators show the past. Price Action "Indicates" the future.
  • #4,349
  • Aug 4, 2008 3:27am Aug 4, 2008 3:27am
Quoting kimmy
hi all

did anyone take the GY short ?
I don't see it kim. IB above the Open.
Indicators show the past. Price Action "Indicates" the future.
  • #4,350
  • Aug 4, 2008 3:28am Aug 4, 2008 3:28am
Quoting kimmy
hi all

did anyone take the GY short ?
GY isn't really showing any direction at the moment and is ranging somewhat. And I don't like that pair, so erratic and hard to judge...
  • #4,351
  • Aug 4, 2008 3:36am Aug 4, 2008 3:36am
I agree guys .....i am standing aside for now.........jaroo i have open at 212.49 and as the IB candle dropped to 46 then it made it eligible for either a long or a short.......the short was triggered at 45 and with a stop of 37 pips it is very close to being stopped out ( i didn't take it phew )

cheers
  • #4,352
  • Aug 4, 2008 3:46am Aug 4, 2008 3:46am
Quoting kimmy
I agree guys .....i am standing aside for now.........jaroo i have open at 212.49 and as the IB candle dropped to 46 then it made it eligible for either a long or a short.......the short was triggered at 45 and with a stop of 37 pips it is very close to being stopped out ( i didn't take it phew )

cheers
Yes I see it now. Nice kim. Tough pair. You want to use every tool in the the box with this one. A play long off the IB and support level may be a good trade. Stop loss under support.
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Indicators show the past. Price Action "Indicates" the future.
  • #4,353
  • Aug 4, 2008 3:48am Aug 4, 2008 3:48am
Quoting NowAndLater
GY isn't really showing any direction at the moment and is ranging somewhat. And I don't like that pair, so erratic and hard to judge...
Kimmy even though the gbpJpy is mostly down on the 1 hr i am more for a long entry..it's cons now so we'll see when it breaks..
  • #4,354
  • Aug 4, 2008 3:59am Aug 4, 2008 3:59am
Hey guys,

Just finished reading through the the Free Coffee thread and sounds very interesting. I used a very similar breakout method until May when the side movements started.

A couple of things that I dont understand so far, hoping you guys could point me in the right direction.

PC states that the day starts at 06:00GMT. Now, is that when you should start looking for the IB? or thats when you place the entry point? Lets say an IB happens at 03:00GMT, is that considered an entry signal? When do you place the Buy/Sell signal.

Also the open on my VT for GBP/USD was 1.9736. Just want to compare opens.

Looking forward to your replies
  • #4,355
  • Aug 4, 2008 4:04am Aug 4, 2008 4:04am
Hi Jarroo and All Pipping Friends

I am enjoying this tread and trying to read very pieces of post. I am half way done. To be continue today... Btw please review the chart USD/JPY at 9GST. Is this a valid IB? Your assistance is very much appreciated.

Nice job Jarroo.
Attached Image (click to enlarge)
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  • #4,356
  • Aug 4, 2008 4:06am Aug 4, 2008 4:06am
Quoting jimmypippy
Hi Jarroo and All Pipping Friends

I am enjoying this tread and trying to read very pieces of post. I am half way done. To be continue today... Btw please review the chart USD/JPY at 9GST. Is this a valid IB? Your assistance is very much appreciated.

Nice job Jarroo.
Absolutely. That is a valid IB and entry jimmy.
Indicators show the past. Price Action "Indicates" the future.
  • #4,357
  • Aug 4, 2008 4:11am Aug 4, 2008 4:11am
Hi

Similarly for EUR/JPY. Is this a valid IB?

Thank you

Regards
Jimmy Chung
  • #4,358
  • Aug 4, 2008 4:12am Aug 4, 2008 4:12am
Quoting jimmypippy
Hi

Similarly for EUR/JPY. Is this a valid IB?

Thank you

Regards
Jimmy Chung
yes sir.
Indicators show the past. Price Action "Indicates" the future.
  • #4,359
  • Aug 4, 2008 4:14am Aug 4, 2008 4:14am
Hi Sorry..chart for EJ
Attached Image (click to enlarge)
Click to Enlarge Name: ej.gif Size: 16 KB
  • #4,360
  • Aug 4, 2008 4:15am Aug 4, 2008 4:15am
Quoting jarroo
yes sir.
Wow.. Thanks jarroo for your quick reply.. I hope to learn from you in future. Your advice are much appreciated.

Regards
Jimmy Chung
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