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  • #34,641
  • Oct 19, 2014 11:09pm Oct 19, 2014 11:09pm
Usually I would use H1 DBX to find the setups but M15 DBX may be used to time the entries and exits.
daddybearforex. com
  • #34,642
  • Oct 19, 2014 11:14pm Oct 19, 2014 11:14pm
To DBX users:
Please look at UJ M15/H1 DBX.
A potential setup is in the making.
daddybearforex. com
  • #34,643
  • Oct 19, 2014 11:15pm Oct 19, 2014 11:15pm
Quoting BlkR
{quote} but not H1 or H4 was confirmed?
It depends on whether or not you are conservative.
See the DBX trading setups for reference.
Attached Image (click to enlarge)
Click to Enlarge Name: Setups.PNG Size: 24 KB
daddybearforex. com
  • #34,644
  • Oct 19, 2014 11:16pm Oct 19, 2014 11:16pm
UJ AND EJ SETUP entered
  • #34,645
  • Oct 19, 2014 11:17pm Oct 19, 2014 11:17pm
Quoting BlkR
{quote} but not H1 or H4 was confirmed?
AU H1 DBX has confirmed the setup.
Notice that AU Daily DBX has changed but not confirmed.
daddybearforex. com
  • #34,646
  • Oct 19, 2014 11:20pm Oct 19, 2014 11:20pm
Quoting BlkR
UJ AND EJ SETUP entered
I think we are on the same boat...
daddybearforex. com
  • #34,647
  • Oct 19, 2014 11:27pm Oct 19, 2014 11:27pm
Quoting DaddyBear
{quote} AU H1 DBX has confirmed the setup. Notice that AU Daily DBX has changed but not confirmed.

AU H1 has confirmed but a few bars too late for right entry ?
  • #34,648
  • Oct 19, 2014 11:28pm Oct 19, 2014 11:28pm
Quoting BlkR
{quote} but not H1 or H4 was confirmed?
DBX is like a new car to you now but after driving a few days you will get a handle on it.
daddybearforex. com
  • #34,649
  • Oct 19, 2014 11:31pm Oct 19, 2014 11:31pm
Quoting BlkR
{quote} AU H1 has confirmed but a few bars too late for right entry ?
No. Not really.
It's one bar late but only a few pips.
daddybearforex. com
  • #34,650
  • Oct 19, 2014 11:37pm Oct 19, 2014 11:37pm
Quoting BlkR
{quote} AU H1 has confirmed but a few bars too late for right entry ?
A good trade consists of three components which are right direction, timely entry, and timely exit.
The first component is most critical. Gold DBX Index gives the right signal of the directions most of the time.
daddybearforex. com
  • #34,651
  • Oct 19, 2014 11:39pm Oct 19, 2014 11:39pm
The timely exit means "don't leave the money on the table!"
Attached Image (click to enlarge)
Click to Enlarge Name: MONEY.JPG Size: 94 KB
daddybearforex. com
  • #34,652
  • Oct 19, 2014 11:41pm Oct 19, 2014 11:41pm
Quoting DaddyBear
{quote} A good trade consists of three components which are right direction, timely entry, and timely exit. The first component is most critical. Gold DBX Index gives the right signal of the directions most of the time.
DB ,

You are correct, however, should we also look at other components not part of the system that gives even more higher chance of success for a trade i.e: the number of waves, support/resistance points, trendlines etc?

EG: AU Used M15 bars for entry when H1 was not confirmed yet, now would it be time to exit even though H1 has just confirmed the previous setup on M15?
  • #34,653
  • Oct 19, 2014 11:44pm Oct 19, 2014 11:44pm
Keep in mind, place M15, H1 and H4 DBX charts side by side on your MT4 platform for each pair you are watching.
Then save the profiles. This will help you switch pairs in no time and have a better control of the trades.
daddybearforex. com
  • #34,654
  • Oct 19, 2014 11:49pm Oct 19, 2014 11:49pm
Quoting BlkR
{quote} DB , You are correct, however, should we also look at other components not part of the system that gives even more higher chance of success for a trade i.e: the number of waves, support/resistance points, trendlines etc? EG: AU Used M15 bars for entry when H1 was not confirmed yet, now would it be time to exit even though H1 has just confirmed the previous setup on M15?
You may add other indicators to the charts if needed.
When H1 has confirmed the setup, M15 may still make corrective moves.
Place SL at the level you feel comfortable with just in case.
daddybearforex. com
  • #34,655
  • Oct 19, 2014 11:50pm Oct 19, 2014 11:50pm
Quoting BlkR
{quote} DB , You are correct, however, should we also look at other components not part of the system that gives even more higher chance of success for a trade i.e: the number of waves, support/resistance points, trendlines etc? EG: AU Used M15 bars for entry when H1 was not confirmed yet, now would it be time to exit even though H1 has just confirmed the previous setup on M15?
AU M15 is likely forming wave b IMO.
Current AU H1 LDB represent M15 corrective move.
Look at H1 UDB. It it does not change direction, you may sit back and watch your TV....
daddybearforex. com
  • #34,656
  • Oct 19, 2014 11:55pm Oct 19, 2014 11:55pm
I think AU is moving in sync with EU now.
You may use EU as a proxy of AU.
daddybearforex. com
  • #34,657
  • Oct 19, 2014 11:56pm Oct 19, 2014 11:56pm
Quoting DaddyBear
{quote} AU M15 is likely forming wave b IMO. Current AU H1 LDB represent M15 corrective move. Look at UDB. It it does not change direction, you may sit back and watch your TV....

Thanx DB, I have SL few pips above H1 Candle
  • #34,658
  • Oct 20, 2014 12:00am Oct 20, 2014 12:00am
Quoting BlkR
{quote} Thanx DB, I have SL few pips above H1 Candle
When a pair drops, watch UDB for any clues.
When a pair surges, watch LDB for the signals.
daddybearforex. com
  • #34,659
  • Oct 20, 2014 12:02am Oct 20, 2014 12:02am
Using M15 DBX to time the entries does not mean that you have to watch it all the time.
Watch H1 and H4 DBX instead.
daddybearforex. com
  • #34,660
  • Oct 20, 2014 12:07am Oct 20, 2014 12:07am
AU M15, H1 and H4 DBX are all forming convergence patterns now.
This foretells AU's next move.
daddybearforex. com
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