Daily Inside Bar Breakout

Thanks, Poliforex.

By the way, how do you treat Sunday candles? Any differently?

Scott

Looks like no trades again for the next day as there are no inside bars on the majors.

Scott

Someone over in Jaroo's thread was so nice and posted this IB indicator. It's doesn't always work correctly, but I think it's better than nothing.



By the way, I discovered these incredible trading videos for daily candles (inside bars and pinbars, etc.) at http://www.learntotradethemarket.com.

Here is an Inside and Outside Bar indicator with alert I found on Forex-TSD.

TimeFreedom

No signals for today, but remember how volatile was the market today, Dow lost 354 points, everything was going crazy, with this strategy we need a slow day and the next a moving day, more volatile. Thats why i open this tread for people to trade less and much safer, so be patience guys, will come that day. Thanks for the indicator.
Peace

No sunday IB, they are unrelieble. But good question. Thanks.

Makes sense.

So if Friday is an inside day, do you open up a trade for Monday based on Friday's prices?

Thanks,
Scott

Yes, if friday is an IB i will take that in consideration and trade monday, skip sunday, anyway is a very smal candle.
Peace

you can concentrate on the following
1. inside bar
2. pin bar / doji / shooting star / hammer pattern only

this 2 type relates to the reversal pattern.
it's not happen always, but, once it happen....you can gain handsomely....

but you need to be brave enough to counter trend the market, because all this setup happen at the early stages of reversal trend / correction period.

SL is critical, MM is critical in this strategy. happy green pips....

USD/JPY had an inside bar yesterday, so I set up a trade today. Got a 30-pip win on the 1st lot. 2nd lot was stopped out at break even.

Scott

sounds like a good & simple strategie for me.

thank you for to share!

I also started a system very similar to this when i saw the dibs thread. Dibs appears to be a great method however difficult to trade if you sleep during the Euro session. So i started to demo something that is almost identical to poliforex's system.

It is not a true breakout system like dibs but with proper mm it shows promise. I am currently testing all the pairs Interbank has to offer but will contentrate on the good looking pairs in the future. Currently i have pending orders with Nzd/Usd.

Oh by the way poliforex don't you have to watch the charts pretty closely to move your stops to BE on the second lot? That is my problem right now....

it sound great, any performance ??

Daily Inside Bar on E/U, my chart is gmt. The low of the IB is 1.5634 and high is 1.5738.

I trade the IB on 1M,5M,15M with very good results. Thursday yielded 149 pips. I also use psych levels.

How have u been dude??
Share t pic

Sonic

Hi Sonicdj, I have been well thanks, busy trading
Hope you have been good too!
Posting a chart... E/U WAS at 1.5...

Regarding the IB, this is what I think:
I used them in two different ways: DIBS and as trigger entry on the 15min trendline and fibs trading. The Daily IB only as a reference for my technical bias.
I would not take a trade triggered by an IB now, but it's just because I feel safer trading similar price action set-up that I prefere. Many will state that an Ib is just an indecision of the market, a kind of small congestion, and I agree. That's why I still take note if an IB from 1hr upward is broken, but I would just look for longs or shorts that will need to be confirmed by the usual higher/lower high/low, swing>pullback>break ( very well explained here: http://www.forexfactory.com/showthread.php?t=80290 and here http://www.forexfactory.com/showthread.php?t=54528 ).
At the end of the day, an IB pattern with a valid break on the 4hr chart, would often be a swing>pullback>breakout on a 15min or 30min chart and so on playing around with TFs, but the lower TF will offer you a tigher stop, good in my case as I trade intraday and I monitor and trail my trades.



Here is a visual example:
I did'n take this trade. The first chart shows an IB on a trendline that is forming on the 1hr, TL seems to resist, it forms an IB 1hr that breaks on the downside. Taken on the 1hr, in would be around 100pips SL, moving down to the 15min and looking for the same thing, but from a different perspective, I manage to enter with more or less 60pips SL. Concept is the same, and I believe that if i get stopped at -60 because of a highwer-high, I would probably would have been taken out at -100pips anyway.

HI friends.... This is my first post to FF ..have gobe through some systems in FF ..some concentrate on indicators, some on price action.This one belongs to price action and i prefer it over indicator ones.
Would love to learn a lot more with FF ..hope all goes well with me in this journey of forex

One thing that i noticed is that suppose a there is a good news for some currency say for example USD , then it would rise against all currencies at the same time..and when it reverses it will reverse in all currencies at the same time ..so if u are unable to trade the USD in one currency try another one

Also i have back tested something very nice

1.open any major currency chart
2. be it any timeframe from 30 minutes to daily
3. plot any EMA in it ( i used 55 ema )
4. simple rule buy when the candle closes above this ema , vice versa for shorts
5. target price s according to ur Money mangement skillls i used the following :-Do not reverse the position until the Ema says so ... i mean if u are long do not exit until there is a close below the 55 ema , if if did close longs and open short
The only problem is with the sideaways market... the last 1 week u could have earned more than 800 pips in USD CAD only ..
Try to keep the system simple
Regards
Simply 123

Is there anyone trading this method?
Daily IB are very reliable..