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Inside Bar Trading

  • #341
  • Dec 10, 2008 5:26am Dec 10, 2008 5:26am
Keep in mind, the DPP is right there, be very carefull when trading around this area. Remember, you don't have to take every trade.

Jim

Quoting juicyt
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
  • #342
  • Dec 10, 2008 5:29am Dec 10, 2008 5:29am
Juicy, notice the 11:00 trigger candle how it looks so Bullish with the long drive down and the recovery back up above the DPP. I don't think I would have taken that one either.

Jim
  • #343
  • Edited 5:48am Dec 10, 2008 5:30am | Edited 5:48am
Thanks H1h1.

II know thats there (DPP), right in the middle of the candle, that was a reason I decided it would be good for either side. Would you do the opposite to that?

Juicyt

H1H1, I thought you were talking about the UsdCad because on my chart the DPP didn't show on the GbpUsd. I reloaded the chart then saw it. So now looking at it, it doesn't look that good suddenly. The long trade that setup after looked more appealing.
"Even if you fall down face first, you still went forward."
  • #344
  • Dec 10, 2008 5:47am Dec 10, 2008 5:47am
I can only tell ou what I would do, Juicy. I would not touch it. Like I said you had a Bullish reversal candle and now you got several candles that say it can go long.

The success of this idea is not that you can make trades, its knowing which ones to stay out of. It may work out for you and it might not.

Jim

Quoting juicyt
Thanks H1h1.

II know thats there (DPP), right in the middle of the candle, that was a reason I decided it would be good for either side. Would you do the opposite to that?

Juicyt
  • #345
  • Dec 10, 2008 5:50am Dec 10, 2008 5:50am
This mess of candles say this pair is going long for a bit.

Jim
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 29 KB
  • #346
  • Dec 10, 2008 5:51am Dec 10, 2008 5:51am
Overall trend is going up, trend of the moment was down.

Jim
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 31 KB
  • #347
  • Dec 10, 2008 5:53am Dec 10, 2008 5:53am
Good explinations and pics, thanks
"Even if you fall down face first, you still went forward."
  • #348
  • Dec 10, 2008 6:56am Dec 10, 2008 6:56am
Looks like a nice USDCHF short setup. Trend is down. S1 is a good amount of pips away. Price recently bounced off the MA.

Any comments would be great.
"Even if you fall down face first, you still went forward."
  • #349
  • Dec 10, 2008 7:16am Dec 10, 2008 7:16am
Quoting juicyt
Looks like a nice USDCHF short setup. Trend is down. S1 is a good amount of pips away. Price recently bounced off the MA.

Any comments would be great.
I agree, lets see if we get the IB in 15 min

EDIT, price is in a triangle coming down to the point, to the downside would be more pips but I might consider an upside IB for 10 pips or so...

USDCHF is no good but5 maybe GU will give us an IB
  • #350
  • Dec 10, 2008 7:36am Dec 10, 2008 7:36am
Jimmy, you were right, GU gave us something here on the 30min
However, I see a triangle forming and especially since it's right on the 89 I'm staying out since it will probably just bounce around a little inside until we wait.

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd_chart_30_12.10.08.gif Size: 21 KB
  • #351
  • Dec 10, 2008 7:41am Dec 10, 2008 7:41am
Quoting jonaslt
Jimmy, you were right, GU gave us something here on the 30min
However, I see a triangle forming and especially since it's right on the 89 I'm staying out since it will probably just bounce around a little inside until we wait.

Attachment
Good Call
  • #352
  • Dec 10, 2008 8:06am Dec 10, 2008 8:06am
Hi people

I am just trying to get my mind around this system, as a relative newbie.
Have been live trading on 1M & 5M time frame scalping but am trying to get myself off these small time frames.

Is this the basic idea of the INSIDE candle or am I off the mark here?
Thanks in advance

http://img162.imageshack.us/img162/6...ecandlelm1.jpg
Starting to see instead of just looking.
  • #353
  • Dec 10, 2008 8:08am Dec 10, 2008 8:08am
Quoting Jimmy Jones
Good Call
Glad I didn't enter this one and noticed that it was a bad trade. It broke the top went up a few pips and shot straight down to break the bottom. Would have stopped out at 55 pips with two positions because no targets were even hit. This is where H1H1's saying is golden, sometimes no move is the best move...I'm happy right now, as for the rest of the day I have a feeling we will see a few of these because there's a few formations going into a triangle as we saw so be aware.

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd_chart_30_12.10.08.gif Size: 21 KB
  • #354
  • Dec 10, 2008 8:17am Dec 10, 2008 8:17am
Quoting Rastaman
Hi people

I am just trying to get my mind around this system, as a relative newbie.
Have been live trading on 1M & 5M time frame scalping but am trying to get myself off these small time frames.

Is this the basic idea of the INSIDE candle or am I off the mark here?
Thanks in advance
I can't read the chart very clearly so I'm not sure if I am reading yours right, but I think you have it the other way around at the arrow.
Graphically, the most recent candle has to fit inside the one to its left. There can't be any higher highs or lower lows in the most recent candle.

As for entry, in this thread since we are looking at mainly 30min TF, H1H1 suggests to enter 5 pips either above or below the larger/older/trigger candle to make sure that price action breaks resistance. In your case, I think you just entered at the break of the candle, correct me if I'm wrong. Stop loss is also on the other side of the longer candle 4 pips away for the same reason.

Let me know if I read your chart wrong,or if we need any more explanations.
  • #355
  • Dec 10, 2008 8:30am Dec 10, 2008 8:30am
Quoting jonaslt
I can't read the chart very clearly so I'm not sure if I am reading yours right, but I think you have it the other way around at the arrow.
Graphically, the most recent candle has to fit inside the one to its left. There can't be any higher highs or lower lows in the most recent candle.

As for entry, in this thread since we are looking at mainly 30min TF, H1H1 suggests to enter 5 pips either above or below the larger/older/trigger candle to make sure that price action breaks resistance. In your case, I think you just entered at the break of the...
Sorry. Hopefully this chart is easier to see what is going on.

http://img412.imageshack.us/img412/5...ecandlewn0.jpg
Starting to see instead of just looking.
  • #356
  • Dec 10, 2008 8:39am Dec 10, 2008 8:39am
Ok, you misunderstood the matter here and what we mean by Inside Bar. This picture should make it clear.

http://www.traderslog.com/static/ima.../insidebar.jpg

The proceeding bar after the candle closes has to be smaller and not reach outside of the previous candle. It has to be within it the previous candle.

Hope that clears it up, let me know if you have questions.

I think H1H1 mentioned this before, but to get some more basic info on formations and patterns http://www.babypips.com/ is a good place to visit.



Quoting Rastaman
Sorry. Hopefully this chart is easier to see what is going on.

http://img412.imageshack.us/img412/5...ecandlewn0.jpg
  • #357
  • Dec 10, 2008 9:04am Dec 10, 2008 9:04am
Hi all,

I have modified a dibs indi to show all inside bar.
Initially set to show only on TF M30.

Good Luck.

Lubo.
Attached File(s)
File Type: mq4 DIBS TriggerLines v1.2a (L.Labo Mods).mq4   10 KB | 539 downloads
If I know how, I tell You!! Few but Good!!
  • #358
  • Dec 10, 2008 9:18am Dec 10, 2008 9:18am
If your looking at the GU, I would leave it lay for awhile. Juicy had the trade and the ATR gave the 20 pips go ahead. The pair didnt stop out the BE so you would still be riding at 105 pips so far.. Good job, Juicy. Going to bed.
  • #359
  • Dec 10, 2008 9:18am Dec 10, 2008 9:18am
Thanks people....Will do my homework and read the whole thread again.
Starting to see instead of just looking.
  • #360
  • Dec 10, 2008 9:22am Dec 10, 2008 9:22am
Quoting Rastaman
Thanks people....Will do my homework and read the whole thread again.
This post may also help you clear up some of your IB questions.....
http://www.forexfactory.com/showpost...42&postcount=1
Same Whore .... Different Dress
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