james16 Chart Thread

Quoting emiliolopez

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I entered at the break out of the daily inside bars, this is the first place i read about it, when price action ranges inside one or more previous candles, it tends to break out with strenght and improves your chance to have a succesful trade, also i think that it was in a good position, far away from trouble areas as soon as the price also went above the 1.16
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Quoting Pinbar

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Why would you consider taking a Long trade after the candle you called an IB?
To me, whatever the outcome, that candle is more like a DOJI showing signs of indecision as to which forces are going to take control of price, ie the buyers or sellers. I may be wrong and that is ok but i think that is pretty dangerous candle to base a trade on.
I mean, we don't want price to reverse on us or even if it goes our direction, it may linger for days.

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Quoting Dan Gilbert

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anyone else see this one?

(still demoing futures , haven't had a losing week on them yet in May.)

(edit, the profit has been taken at 67.40, the picture was saved before price made my target)

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Quoting g_j_hook@yah

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hi pinbar (like mike i cant believe your the first with that name!! lol)

these IBs are good continuation bars in my experience, i had my eye on this myself but havnt had much time for my charts for a week or two. they show the concolodation of price as you know and this can lead to a good breakout if the other confluencing factors are good also. once a desicion has been made by the market everyone can see it and the move often gathers momentum...

jon

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Quoting joelcf

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For every time it signals a retrace, it gives you three signals of a pause in momentum.

I think Dan has a point. Most people would be better off without it, since they dont even know what it is, what it means or how to use it. Look at the number of people using an RSI(6) because they saw Ryan do it, and then 'spotting divergence' between bars 66 periods apart.

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Quoting Dan Gilbert

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anyone else see this one?

(still demoing futures , haven't had a losing week on them yet in May.)

(edit, the profit has been taken at 67.40, the picture was saved before price made my target)

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Quoting extraneo

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USD CAD is now on forming a TF 4h IPB
if it fails the retest of the max
maybe it's a good opportunity ..
or not?

edit: There are still 40 minutes at the close of the candle

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Quoting Pinbar

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Why would you consider taking a Long trade after the candle you called an IB?
To me, whatever the outcome, that candle is more like a DOJI showing signs of indecision as to which forces are going to take control of price, ie the buyers or sellers. I may be wrong and that is ok but i think that is pretty dangerous candle to base a trade on.
I mean, we don't want price to reverse on us or even if it goes our direction, it may linger for days.

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Quoting mbqb11

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Hey Pin

Just to clarify here, and Inside Bar is and inside bar no matter the shape. An IB itself is indecision in the market place, the fact that the bar looks like a DOJI even more confirms that thats what is taking place, a settling so to speak. The concept of an inside bar is that the range has not only decreased(meaning consolidation on some level) but it decreased and remained within the prior range. If played at the right spot regardless of the shape of the IB they often "pop" however temporary as per J16

Best
Mike

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Quoting mbqb11

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Hey Pin

Just to clarify here, and Inside Bar is and inside bar no matter the shape. An IB itself is indecision in the market place, the fact that the bar looks like a DOJI even more confirms that thats what is taking place, a settling so to speak. The concept of an inside bar is that the range has not only decreased(meaning consolidation on some level) but it decreased and remained within the prior range. If played at the right spot regardless of the shape of the IB they often "pop" however temporary as per J16

Best
Mike

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Quoting Pinbar

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Thanks Mike so the form of the IB does not matter it is simply the range.

Now, I can get that out of my head.

Appreciated

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Quoting mbqb11

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Hey Pin

Just to clarify here, and Inside Bar is and inside bar no matter the shape. An IB itself is indecision in the market place, the fact that the bar looks like a DOJI even more confirms that thats what is taking place, a settling so to speak. The concept of an inside bar is that the range has not only decreased(meaning consolidation on some level) but it decreased and remained within the prior range. If played at the right spot regardless of the shape of the IB they often "pop" however temporary as per J16

Best
Mike

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Quoting extraneo

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Hello Mike
The preference for the break of the IB is, however, in the direction of the PA?
Or you can wait also a reverse?

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Quoting mbqb11

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An IB can be played multiple ways.

1. A straddle - Which is a sell below, and a buy above
2. In on direction only based on location.

Example an IB sitting above a PPZ, would you want to sell into the PPZ or only play long?

Example an IB sitting in the middle of a breakout area where it could pop either way would make more sense for a straddle

Hope that helps
Mike

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Quoting extraneo

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if the IB is above a ppz would be more convenient order stop above or under IB?

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Quoting mbqb11

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In my above example, what I was trying to say is that i would never want to sell an inside bar into a PPZ, just as any other PA, so I would only have a buy stop above the IB instead of a straddle in the type of scenario

Best
Mike

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