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The DIBS Method... No Free Lunch continues

  • #4,501
  • Aug 6, 2008 1:59am Aug 6, 2008 1:59am
just put my orders in as well. on the swissy.
  • #4,502
  • Aug 6, 2008 2:01am Aug 6, 2008 2:01am
Quoting mudskipper
just put my orders in as well. on the swissy.
Only a 25 pip stop loss....
  • #4,503
  • Aug 6, 2008 2:03am Aug 6, 2008 2:03am
a little extra confirmation in this counter-trend set-up
Attached Image
  • #4,504
  • Aug 6, 2008 2:06am Aug 6, 2008 2:06am
lets give this another try
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  • #4,505
  • Aug 6, 2008 2:08am Aug 6, 2008 2:08am
Quoting Forbidden2
Only a 25 pip stop loss....
actually its 15
  • #4,506
  • Aug 6, 2008 2:11am Aug 6, 2008 2:11am
Quoting mudskipper
actually its 15
My entry was at 105000 stop at 10525...what's yours Mudskipper.....
  • #4,507
  • Aug 6, 2008 2:14am Aug 6, 2008 2:14am
10506 is my entry, one pip below my low, stop is the difference of the previous bar higher at 10522.
  • #4,508
  • Aug 6, 2008 2:17am Aug 6, 2008 2:17am
Quoting mudskipper
just put my orders in as well. on the swissy.
Swissy DIBS.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #4,509
  • Aug 6, 2008 2:25am Aug 6, 2008 2:25am
Hi, I'm new here!

Took the USD/CHF short as well. Could develop very good as the USD is doomed. I don't think there is a real uptrend for the swissy, we'll see parity again...

Regards - Xaron
  • #4,510
  • Aug 6, 2008 2:31am Aug 6, 2008 2:31am
Quoting jarroo
How can that be foolish if their running free now.

Seems to me that you caught the right DIBS signal.
Maybe you are right Jarroo - but I did not feel good about it, until it ran free that is. Just got stopped out on a 20 pip trailing stop on the EURJPY but some profit made. Still riding the EURUSD and holding my breath for B/E on a short on the Swissy.
Never argue with a fool....
  • #4,511
  • Aug 6, 2008 2:35am Aug 6, 2008 2:35am
Quoting tigertrader
Maybe you are right Jarroo - but I did not feel good about it, until it ran free that is. Just got stopped out on a 20 pip trailing stop on the EURJPY but some profit made. Still riding the EURUSD and holding my breath for B/E on a short on the Swissy.
That feeling will soon fade my brother.
Indicators show the past. Price Action "Indicates" the future.
  • #4,512
  • Aug 6, 2008 2:43am Aug 6, 2008 2:43am
Hi guys

I'm rookie here..
Look like we will have IB for EURJPY in 19min..
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 13 KB
  • #4,513
  • Aug 6, 2008 2:53am Aug 6, 2008 2:53am
it is also in-sync with swissy trade as well if the trade sets up
  • #4,514
  • Aug 6, 2008 2:55am Aug 6, 2008 2:55am
Quoting CarbureTor
Hi guys

I'm rookie here..
Look like we will have IB for EURJPY in 19min..
EURJPY <GBPUSD< GBPJPY....all doing something...
  • #4,515
  • Aug 6, 2008 2:55am Aug 6, 2008 2:55am
if we look at this tunnel chart, you will see that we are possible due for a bit of a retrace on the gbp.usd

..........but you never really know
Attached Image
  • #4,516
  • Aug 6, 2008 2:58am Aug 6, 2008 2:58am
I've set a long order for the EUR/JPY and long and short for the GBP/USD...
  • #4,517
  • Aug 6, 2008 3:15am Aug 6, 2008 3:15am
Quoting tigertrader
Maybe you are right Jarroo - but I did not feel good about it, until it ran free that is. Just got stopped out on a 20 pip trailing stop on the EURJPY but some profit made. Still riding the EURUSD and holding my breath for B/E on a short on the Swissy.
There was a resistance at around 1.5515. And as you can see price came up to that level and shot away 25 pips on the first test. So taking that IB, considering it was a countertrend move as well, I would have made sure to get a BE before that resistance level, so closing 2/3 at 2:1 would have done the job. Closing 1/2 at 1:1 would have been right on that level.
The good thing is that you are not stopped out and if price broke that level then this will be a good trade so let's see what happens next... If it brakes 1.5515, the next resistance is around 1.5550 and then 1.5600-1.5630. Since it's a countrend move I would be looking very close at these levels as there might be a lot of sellers coming in
I always look to the left before entering a trade...
Attached Image (click to enlarge)
Click to Enlarge Name: EU.JPG Size: 107 KB
  • #4,518
  • Aug 6, 2008 3:24am Aug 6, 2008 3:24am
Quoting NowAndLater
There was a resistance at around 1.5515. And as you can see price came up to that level and shot away 25 pips on the first test. So taking that IB, considering it was a countertrend move as well, I would have made sure to get a BE before that resistance level, so closing 2/3 at 2:1 would have done the job. Closing 1/2 at 1:1 would have been right on that level.
The good thing is that you are not stopped out and if price broke that level then this will be a good trade so let's see what happens next... If it brakes 1.5515, the next resistance is around 1.5550 and then 1.5600-1.5630. Since it's a countrend move I would be looking very close at these levels as there might be a lot of sellers coming in
I always look to the left before entering a trade...
Hi NowAndLater, I got stopped out on the EURUSD. I am still in the Swissy short but it is looking very "iffy", especially if the USD strengthens against the other major pairs. Fingers crossed - and a stop set!
Never argue with a fool....
  • #4,519
  • Aug 6, 2008 3:33am Aug 6, 2008 3:33am
Quoting tigertrader
Hi NowAndLater, I got stopped out on the EURUSD. I am still in the Swissy short but it is looking very "iffy", especially if the USD strengthens against the other major pairs. Fingers crossed - and a stop set!
Just one thing to have in mind: EURUSD and USDCHF are inversly correlated with a high precision, if EU moves down UC moves up and vice versa.
There are a number of reasons to why I wouldn't enter that UC, but I'm very conservative as well. If I was in that trade and saw the current price action I might close it out, at least big part of it but that's me...
  • #4,520
  • Aug 6, 2008 3:34am Aug 6, 2008 3:34am
In on the Swissy, but took the IB further back.........

Wonderful thread everybody!
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Click to Enlarge Name: gj3.gif Size: 31 KB
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