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The DIBS Method... No Free Lunch continues

  • #8,261
  • Edited 5:00am Jul 2, 2009 4:40am | Edited 5:00am
Quoting nadid83
Hi,

Is someone using DIBS and James16 strategy together ?

I use DIBS for a while and i think that James16's strategy could be a complementary strategy.

Nadine

Very valid question Nadid83. Understanding how James16 arrives at support/resistance levels will compliment your DIBS trades. However, i have found that only when trading pullbacks with Price action does James16's method and DIBS compliment each other.

James16's method is looking for Price action at swing highs/lows which in most cases will be going back towards the 6am open that we are trading away from with DIBS. Just my observations.

When you get a pullback with Price action & DIBS, you have a potential great trade.

Z

Some look for Daily Pin Bars and use the DIBS (if the setup appears) to confirm the break on the hourly chart.
  • #8,262
  • Jul 2, 2009 6:43am Jul 2, 2009 6:43am
it seems that sometimes, you have a big trend with no dibs
and a beautiful pin bar on daily and 4h support ...
Attached Image
  • #8,263
  • Edited 9:08am Jul 2, 2009 7:24am | Edited 9:08am
I'm going to see if I can get through NFP reports.

Currently holding Long on UJ,Swissy, and Shorts on Fiber,Cable has a pending order.

This might be a foolish thing to do, as I never pay any attention to news before, I'd like to see if PA holds a certain advantage over news traders, the current Cable pending order is in line with the BEOB on daily.

Edit: UJ long got toasted... but still there's pending order to sell GU and three profitable free trades. I'm going to delete the pending order for GU if price doesn't reach there by 2 hours

GU short is also toast because of sudden price pullback.

I've decided to take some profits for the day. I'm flat currently.
  • #8,264
  • Jul 2, 2009 1:16pm Jul 2, 2009 1:16pm
Quoting nadid83
it seems that sometimes, you have a big trend with no dibs
That is so true. That is why combining the two strategies (James16 & DIBS) might led to conflicting signals (sometimes).

Quoting nadid83
... a beautiful pin bar on daily and 4h support ...
When you get a Daily pin bar, you then know which direction carries the greater probability. So you know that should you get a DIBS, which direction you want to be trading.

Z
  • #8,265
  • Jul 3, 2009 6:35am Jul 3, 2009 6:35am
Observing the 09:00 GMT Dibs on E/U yesterday my chart shows the matching high at 4104, same as previous bar but higher low. Would you count this as a Dibs if one end of the bar matches the previous bar but the opposite end is inside?

I stayed out yesterday with the EU rate & NFP news about but I am thinking that this may be safe but not necessarily the most profitable approach. Observing price action around news, it still seems to work to the major technical levels.

Welcome any comments.

Best,
Matt
  • #8,266
  • Jul 3, 2009 7:14am Jul 3, 2009 7:14am
Quoting FxMatt
Observing the 09:00 GMT Dibs on E/U yesterday my chart shows the matching high at 4104, same as previous bar but higher low. Would you count this as a Dibs if one end of the bar matches the previous bar but the opposite end is inside?

I stayed out yesterday with the EU rate & NFP news about but I am thinking that this may be safe but not necessarily the most profitable approach. Observing price action around news, it still seems to work to the major technical levels.

Welcome any comments.

Best,
Matt
Hi Matt,
Matching highs and lows but other end inside the candle counts as inside bars so that EU one was valid.
I stayed in trades yesterday for NFP. It seems that price action is usually right!!
Nicola
  • #8,267
  • Jul 3, 2009 10:29am Jul 3, 2009 10:29am
Quoting elitejets
Hi Matt,
Matching highs and lows but other end inside the candle counts as inside bars so that EU one was valid.
I stayed in trades yesterday for NFP. It seems that price action is usually right!!
Nicola
Nicola.

Matt, Razor explains a good setup for NFP here http://www.forexfactory.com/showpost...&postcount=207

Z
  • #8,268
  • Jul 3, 2009 3:06pm Jul 3, 2009 3:06pm
Quoting zuret9
Nicola.

Matt, Razor explains a good setup for NFP here http://www.forexfactory.com/showpost...&postcount=207

Z
Ill try to do some spreadsheeting of results for NFP with the 5 Min IB strat over the weekend if I get sometime. Ill post results in the journal as it isnt completely relevant to this thread.

Razor
  • #8,269
  • Jul 4, 2009 6:37pm Jul 4, 2009 6:37pm
Nathan huh? does this dude really exist ?!
  • #8,270
  • Jul 4, 2009 9:20pm Jul 4, 2009 9:20pm
Quoting split_unit
Nathan huh? does this dude really exist ?!

??? What, is that a question and if so, in relation to what???
  • #8,271
  • Jul 5, 2009 10:34am Jul 5, 2009 10:34am
Quoting nadid83
it seems that sometimes, you have a big trend with no dibs
and a beautiful pin bar on daily and 4h support ...
IF we really get to read between the lines -

DIBS is based on Trend Continuation whereas
Pin Bar based on Trend Reversal

Thats why generally Dibs fails when markets are on Trend Reversal
but Who cares, it is so cool to ride the trend than its Reversal

Cheers
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #8,272
  • Jul 6, 2009 1:14am Jul 6, 2009 1:14am
Pin bar break with DIBS!!! Minor trend Continuation....

Z
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  • #8,273
  • Jul 6, 2009 1:40am Jul 6, 2009 1:40am
Quoting forexsaint

DIBS is based on Trend Continuation whereas
Pin Bar based on Trend Reversal

Thats why generally Dibs fails when markets are on Trend Reversal
but Who cares, it is so cool to ride the trend than its Reversal

Cheers
I respectfully disagree with the first comment ...
Pullbacks to support resistance often occur on lower timeframes and then forming pinbars or inside bars which allow you entries to get back in and trade with the trend.

Using the DIBS rule about only buying/selling markets that are up/down on the day will keep you out of those ones that form at reversal points but on the majors they don't always fail in that you are triggered in then stopped out.

You should always mark key support resistance levels.

Good trading.
  • #8,274
  • Jul 6, 2009 1:55am Jul 6, 2009 1:55am
Will this Pin Bar, DIBS break hold? Lets see how she/he develops...

Z
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  • #8,275
  • Jul 6, 2009 2:47am Jul 6, 2009 2:47am
Anybody with me in E/U. 4 am Dibs played off 6am opening

Cool ride till now ... NOW into Free trade
Nice going baby .. bring it on
Cheers
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100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #8,276
  • Jul 6, 2009 2:59am Jul 6, 2009 2:59am
Beautiful... Beautiful dibs trades on all the majors today, I get the feeling that monday is always good DIBS day...

Btw, that IB+PB setup is a great method to choose the "Hot Hand" too, I've recently found out about that too, if you observe all the DIBS trades today has a PB before it breaks the IB to the day's direction.
  • #8,277
  • Jul 6, 2009 3:30am Jul 6, 2009 3:30am
Quoting marcelnyo
I get the feeling that monday is always good DIBS day...
If we carefully think on DIBS concept... the above is one of the best perfect time. Week Open

We are not just trading hourly here off the day open but off the week's open
also (MONDAY)
& there comes the Big Picture, of Hot hand, taking trades.

Second that

DIBS = 2 words = Simple + Awesome
Cheers
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #8,278
  • Jul 6, 2009 6:49am Jul 6, 2009 6:49am
Thanks for all your input everyone - I very much appreciate it. Still much to learn to maxmise the opportunities for me.

Best,
Matt

Quoting FxMatt
Observing the 09:00 GMT Dibs on E/U yesterday my chart shows the matching high at 4104, same as previous bar but higher low. Would you count this as a Dibs if one end of the bar matches the previous bar but the opposite end is inside?

I stayed out yesterday with the EU rate & NFP news about but I am thinking that this may be safe but not necessarily the most profitable approach. Observing price action around news, it still seems to work to the major technical levels.

Welcome any comments.

Best,
Matt
  • #8,279
  • Jul 6, 2009 12:48pm Jul 6, 2009 12:48pm
Quoting FxMatt
.... Still much to learn to maxmise the opportunities for me.

Best,
Matt
Matt,

One step at a time Matt, you already have the foundation(s) needed. Keep posting your charts or asking questions.....

Z
  • #8,280
  • Jul 6, 2009 1:03pm Jul 6, 2009 1:03pm
Anyone still in this trade? Strong 4hr reversal candle (if broken)....

Z
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