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Inside Bar Trading

  • #841
  • Dec 16, 2008 2:29pm Dec 16, 2008 2:29pm
Quoting mackus
I appreciate the feedback. I thought I was following the trend of the moment which was down and on my chart I was under the 89sma (light blue line on the chart). As far as proximity to the open I wasn't even considering that. Also, my target was still above the Sunday night open. Live and learn.
Attachment
I was looking at what I think was your trade today (around 12 noon GMT?) and my 89 is well below yours that is showing on the screen. Do you have the right setting, the original template came with a 21 instead of 89. If I am looking at the right trade, you took a short right above the 89.
  • #842
  • Dec 16, 2008 3:10pm Dec 16, 2008 3:10pm
If the market is not doing what it usually does for you, sometimes you need to stop as I did earlier. Now I know why everything looked wrong, or backasswards to me, and I had a sneaky suspicion that something was rotten in Denmark. Heres what happened. The whole world was expecting a move up at the U.S. open and then a stiff shot down as the FOMC statement was supposed to strengthen the $. I closed up shop and hit the sack telling my better half that she needed to get me up at 1:45. My plan was that the consolidation would give me a IB at the release. It happened on E/U and I was rewarded with 290+ pips because the B/E never even came close. Actually there were 2 pairs that gave up strong pips with the IB, the E/U and the A/U. Happy camper here.

JIM

Quoting hard1head1
Gonna hit the bed, dont understand the movement. Time for a break.
Attached Image (click to enlarge)
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  • #843
  • Dec 16, 2008 3:35pm Dec 16, 2008 3:35pm
After large moves like we have seen in some pairs today do you give more consideration to trading counter trend than you would under normal circumstances?
  • #844
  • Dec 16, 2008 3:45pm Dec 16, 2008 3:45pm
If I get a red candle close below thr close of the candle above it, maybe. I just took the E/U short because I got so many pips on the long trade, however, I would have never taken it any other time. My guess is we are going to 3960 area which is 50% fib, but logic dictates so.

Quoting Abnormalone
After large moves like we have seen in some pairs today do you give more consideration to trading counter trend than you would under normal circumstances?
  • #845
  • Dec 16, 2008 3:48pm Dec 16, 2008 3:48pm
Back to bed, see you tonight.

Jim
  • #846
  • Dec 16, 2008 6:03pm Dec 16, 2008 6:03pm
Wow h1h1 that's was good.
  • #847
  • Dec 16, 2008 9:31pm Dec 16, 2008 9:31pm
Testing 123
The finest tool in the world still needs a MAN who KNOWS how to use it.
  • #848
  • Dec 17, 2008 1:00am Dec 17, 2008 1:00am
We got an IB on E/U

Jim
  • #849
  • Dec 17, 2008 1:01am Dec 17, 2008 1:01am
G/U also
  • #850
  • Dec 17, 2008 1:04am Dec 17, 2008 1:04am
eur/jp aswell

cancel that
  • #851
  • Dec 17, 2008 1:18am Dec 17, 2008 1:18am
Quoting croesesFX
eur/jp aswell

cancel that
Cancelled because it's shorting to the 89 SMA?
  • #852
  • Dec 17, 2008 1:25am Dec 17, 2008 1:25am
Quoting 1ka
Cancelled because it's shorting to the 89 SMA?
No this would have been a buy, but now the market has gone lower than the bar previous to the IB bar so its cancelled

same for the eur/usd, gbp/usd still in play

H1H1, this is correct?
  • #853
  • Dec 17, 2008 1:29am Dec 17, 2008 1:29am
Quoting croesesFX
No this would have been a buy, but now the market has gone lower than the bar previous to the IB bar so its cancelled

same for the eur/usd, gbp/usd still in play

H1H1, this is correct?
Hmm, this is my view - I think your's differs?
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  • #854
  • Dec 17, 2008 1:31am Dec 17, 2008 1:31am
Quoting 1ka
Hmm, this is my view - I think your's differs?
thats fine if you want to do counter trades, I personally dont
  • #855
  • Dec 17, 2008 1:35am Dec 17, 2008 1:35am
Quoting croesesFX
thats fine if you want to do counter trades, I personally dont
OK, so you cancelled not because it was going Short to the SMA, but because the trend of the moment is Long, correct?

(sorry to keep banging on at this one, I'm just trying to make sure I understand the reasoning behind some of the decisions I read - feel free to ignore me )
  • #856
  • Dec 17, 2008 1:40am Dec 17, 2008 1:40am
Quoting 1ka
OK, so you cancelled not because it was going Short to the SMA, but because the trend of the moment is Long, correct?

(sorry to keep banging on at this one, I'm just trying to make sure I understand the reasoning behind some of the decisions I read - feel free to ignore me )
thats correct, I will only go with the 89SMA direction. You would have made your pips on eur/jp, its really up to you if you want to trade both ways.
  • #857
  • Dec 17, 2008 1:44am Dec 17, 2008 1:44am
Quoting croesesFX
thats correct, I will only go with the 89SMA direction. You would have made your pips on eur/jp, its really up to you if you want to trade both ways.
Thanks, croesesFX. Your clarification is appreciated.
  • #858
  • Dec 17, 2008 1:52am Dec 17, 2008 1:52am
Quoting hard1head1
If the market is not doing what it usually does for you, sometimes you need to stop as I did earlier. Now I know why everything looked wrong, or backasswards to me, and I had a sneaky suspicion that something was rotten in Denmark. Heres what happened. The whole world was expecting a move up at the U.S. open and then a stiff shot down as the FOMC statement was supposed to strengthen the $. I closed up shop and hit the sack telling my better half that she needed to get me up at 1:45. My plan was that the consolidation would give me a IB at the release....
Do you ever consider taking a couple of days off after hitting a big one?
  • #859
  • Dec 17, 2008 1:53am Dec 17, 2008 1:53am
Quoting 1ka
Thanks, croesesFX. Your clarification is appreciated.
I`m sure H1H1 will beg to differ with regards to my comments, so best listen to him
  • #860
  • Dec 17, 2008 1:59am Dec 17, 2008 1:59am
Quoting croesesFX
I`m sure H1H1 will beg to differ with regards to my comments, so best listen to him

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