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Inside Bar Trading

  • #321
  • Dec 9, 2008 10:14pm Dec 9, 2008 10:14pm
Quoting jonaslt
GU trip finally over. This was nerve wrecking but I reminded myself not to quit out and follow the rules.

First one closed at +13 a little before M3
Second one closed at +26 right above resistance I have drawn

+39 total , not a trade I would take again though
Your getting good at this, good job. If you wouldn't mind, please keep calling them out like you have. Your helping me find them and get a better eye for it. Thanks
  • #322
  • Dec 9, 2008 10:41pm Dec 9, 2008 10:41pm
we hav nice IB in EUR/JPY 30M TF...
upside expected...

Sonic
Attached Image (click to enlarge)
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  • #323
  • Dec 9, 2008 10:52pm Dec 9, 2008 10:52pm
Quoting fxstman
Your getting good at this, good job. If you wouldn't mind, please keep calling them out like you have. Your helping me find them and get a better eye for it. Thanks
Not a problem as long as people don't feel it's too many charts, but personally I learn visually best.
btw don't take anything I say for granted, I still feel I'm wrong or half-guessing half the time, but I suppose my guesses have been getting more educated and better or just luckier recently. I'm still in the learning phase myself so if anyone ever thinks differently than I do please say so because I want to be corrected and learn.
  • #324
  • Dec 9, 2008 10:55pm Dec 9, 2008 10:55pm
Quoting sonicdeejay
we hav nice IB in EUR/JPY 30M TF...
upside expected...

Sonic
Sorry which bar are you talking about specifically because I can't see any recent valid IBs that havnt been broken.
  • #325
  • Dec 9, 2008 11:06pm Dec 9, 2008 11:06pm
Quoting jonaslt
Sorry which bar are you talking about specifically because I can't see any recent valid IBs that havnt been broken.
I believe he meant the last bar. I don't think the bar had closed when he posted it. It expanded a little before it closed--at least on my chart.
  • #326
  • Dec 10, 2008 1:20am Dec 10, 2008 1:20am
A good IB on gu that I missed
  • #327
  • Dec 10, 2008 1:26am Dec 10, 2008 1:26am
I got into GU... just got out with 60pips. I love this method!
  • #328
  • Dec 10, 2008 1:40am Dec 10, 2008 1:40am
Quoting maximteo
I got into GU... just got out with 60pips. I love this method!
That was a great IB, fairly small setup bar, good bounce off the pivot which also happened to coincide with the uptrend line, great job.
  • #329
  • Dec 10, 2008 2:29am Dec 10, 2008 2:29am
So many IB are setting up right now that I do not know which one to ride...E/U, G/U, G/Y...
  • #330
  • Dec 10, 2008 3:10am Dec 10, 2008 3:10am
Triple inside bar.
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  • #331
  • Dec 10, 2008 3:19am Dec 10, 2008 3:19am
I am feeling better now although I have the skeleton of my headache. Anyone that has ever had a Migrane know what I mean. I have chose to not trade today and help answer a few questions that people have been asking. How to determine which ones to take. Well, If the market is consolodating or in a triangle like the one below, you have to be choosy and you must have this mindset.

ALWAYS BE PREPARED TO SETTLE FOR 10-15 PIPS IF YOU ARE NOT SURE!!

Look at the pair below, The Aussie showed 3 IB's here, which one would you have traded and why. Anyone?

Jim
Attached Image (click to enlarge)
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  • #332
  • Dec 10, 2008 3:21am Dec 10, 2008 3:21am
Yea, its nice to have that problem, funny thing is, they all will probably go into profit.

LOL

Quoting oblo
Triple inside bar.
  • #333
  • Dec 10, 2008 3:29am Dec 10, 2008 3:29am
This pair was inside a triangle and you can see it better if you go to a smaller time frame. This is where the law of averages catch up to us. If you take either the 2nd or 3rd one, you could only have hoped for them to come to the top or bottom of the triangle which is actually 2 differant trendlines. The answer to the question was the 1st one. Why you ask, because that is where the line of resistance is. And if you notice it turns out to be a great trade. The 2nd one fails miserably,and why would you even contemplate that one sitting directly on the DPP. The 3rd is the same way although it trades to the top of the triangle. Bottom line, The only on I would take is the first one.

Jim

Quoting hard1head1
I am feeling better now although I have the skeleton of my headache. Anyone that has ever had a Migrane know what I mean. I have chose to not trade today and help answer a few questions that people have been asking. How to determine which ones to take. Well, If the market is consolodating or in a triangle like the one below, you have to be choosy and you must have this mindset.

ALWAYS BE PREPARED TO SETTLE FOR 10-15 PIPS IF YOU ARE NOT SURE!!

Look at the pair below, The Aussie showed 3 IB's here, which one would you have...
  • #334
  • Dec 10, 2008 3:30am Dec 10, 2008 3:30am
If you use your head and listen to what a lot of these people have to say, we can all learn. I don't claim to know everything, so keep throwing out your input.

Jim
  • #335
  • Dec 10, 2008 3:34am Dec 10, 2008 3:34am
Quoting hard1head1
I am feeling better now although I have the skeleton of my headache. Anyone that has ever had a Migrane know what I mean. I have chose to not trade today and help answer a few questions that people have been asking. How to determine which ones to take. Well, If the market is consolodating or in a triangle like the one below, you have to be choosy and you must have this mindset.

ALWAYS BE PREPARED TO SETTLE FOR 10-15 PIPS IF YOU ARE NOT SURE!!

Look at the pair below, The Aussie showed 3 IB's here, which one would you have...
Shoot I was going to throw an answer out but it hit me, I have no idea. I'll answer anyway.

First IB no good for me, setup bar is huge. Second IB I would have considered a long if price broke above the setup bar. Third IB, I don't see an IB there, to me it looks like MT4's messed up positioned makes it look like an IB but I would not consider it an IB.
  • #336
  • Dec 10, 2008 3:38am Dec 10, 2008 3:38am
Very clear here, you got an IB in here and your wondering what to do, well, pull in some data and look to see if there is a trend of the moment. I'll be darned, looks like its going up. I would never take any of these short, only long. Guess what, another positive trade.

Jim
  • #337
  • Dec 10, 2008 4:47am Dec 10, 2008 4:47am
A little late on this entry which worked in my favour.

I decided to bring the stop down because I would hope that the MA acts as strong resistance.

Any comments would be good.

Thanks
Attached Image (click to enlarge)
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"Even if you fall down face first, you still went forward."
  • #338
  • Dec 10, 2008 5:07am Dec 10, 2008 5:07am
Quoting mackus
Opened IB trade short USD/JPY @ 92.64
Lost 45 pips on the 1st trade, USD/CAD that H1H1 pointed out I shouldn't have taken anyway because of the imminent news.
Closed the 1st lot of the USD/JPY trade for +19 pips and let the 2nd lot ride. It ended up hitting the BE stop.
Net Result: -45 + 19 = -26 pips after 2 demo trades. Still a lot to learn but I appreciate everyones contributions.
  • #339
  • Dec 10, 2008 5:08am Dec 10, 2008 5:08am
UsdCad setup to play both sides. The market is completely sideways so I'd pick either direction. If I had a prefered direction it would be long with the longer Time frame.
"Even if you fall down face first, you still went forward."
  • #340
  • Dec 10, 2008 5:24am Dec 10, 2008 5:24am
I will leave you with this. Pay attention to details. I heard someone say earlier in this thread that his definition of an IB included even candle wicks. If the wicks are even it is NOT considered an IB!! Also, you should be placing entry 3 pips beyond the High or low. There is a good reason for this, considering the wick represents some kind of resistance, you want to see that resistance broken.

Jim
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