Simple Inside Bars

This is a discussion on Simple Inside Bars within the Trading Journals forums, part of the Reception category; Originally Posted by skelly22 Hey Trader girl, Yes Iíd say we are looking for a long break according to the ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Nov 14, 2008, 11:29am   #78
 
UKtradergirl's Avatar
Joined Oct 2008
Quote:
Originally Posted by skelly22 View Post
Hey Trader girl,

Yes Iíd say we are looking for a long break according to the DIBS rules but Iím not going to take this one as i see strong short term descending resistance over head at 14900. It looks to be forming a wedge pattern(with rising support also) so to avoid false breaks on this I think Iíll wait for a break and retest of the wedge lines.


Shane

Yes it does look more likely to break down, although this would be against the rules i would be inclined to take a short trade. The price has broken the low of the previous bar anyway now.
UKtradergirl is offline   Reply With Quote
Old Nov 14, 2008, 12:05pm   #79
 
foredog's Avatar
Joined Oct 2007
foredog started this thread
Quote:
Originally Posted by UKtradergirl View Post
GBP/USD inside bar has formed- two in a row infact. Am i right in thinking we are looking for long trades today (as price is above 6am open?)
Been busy today, not had chance to post.


Yep you're right, i put the orders on but they never hit (it's a demo so i'm happy to take trades and wait and see, sometimes the worst looking trades make the best money!)

If you were trading this discretionary then it would be tempting to take a short on the lows of these candles as it's near enogh the open/close line

I'd guess if it goes through the line it's going Doooooooooooooooooooooooowwwwwwwwwwwwnnnnnnnnnnnnn nnnnnn.

but i'm often wrong!
__________________
IF IN DOUBT GET THE **** OUT!

No need for a course http://www.trade2win.com/boards/gene...tml#post707344

Simple cable system http://simpledibs.blogspot.com/ http://www.trade2win.com/boards/trad...side-bars.html
foredog is offline   Reply With Quote
Old Nov 14, 2008, 12:24pm   #80
 
foredog's Avatar
Joined Oct 2007
foredog started this thread Would've been a good bear!

to scalp
__________________
IF IN DOUBT GET THE **** OUT!

No need for a course http://www.trade2win.com/boards/gene...tml#post707344

Simple cable system http://simpledibs.blogspot.com/ http://www.trade2win.com/boards/trad...side-bars.html

Last edited by foredog; Nov 14, 2008 at 12:45pm. Reason: adding scalp
foredog is offline   Reply With Quote
Old Nov 14, 2008, 8:47pm   #81
 
foredog's Avatar
Joined Oct 2007
foredog started this thread Plenty of movement and a few setups but no trades today, with a method like this it's probably better if we are out of the market when it's choppy as the best results come from a trend, as seen this week rather than a scalp.

I believe the someone who uses this on a consistent basis closes half the position at R:R 1:1, eg if your stops 55pips when you gets 55 pips profit then close half leave stop in place and you've got a free trade, i just wanted to try it differently, better to play around with a demo a/c

good weekend all
__________________
IF IN DOUBT GET THE **** OUT!

No need for a course http://www.trade2win.com/boards/gene...tml#post707344

Simple cable system http://simpledibs.blogspot.com/ http://www.trade2win.com/boards/trad...side-bars.html
foredog is offline   Reply With Quote
Old Nov 17, 2008, 9:55am   #82
 
foredog's Avatar
Joined Oct 2007
foredog started this thread Lot on today so won't be able to trade cable today, hopefully back on it tomorrow
__________________
IF IN DOUBT GET THE **** OUT!

No need for a course http://www.trade2win.com/boards/gene...tml#post707344

Simple cable system http://simpledibs.blogspot.com/ http://www.trade2win.com/boards/trad...side-bars.html
foredog is offline   Reply With Quote
Old Nov 18, 2008, 7:44am   #83
 
foredog's Avatar
Joined Oct 2007
foredog started this thread Todays 6am open is 14991 Short below it, long above

Looks like we may have the first trade of the week.

The 7am bar was 14990 - 15091

The 8am bar was 15021 - 15091

So we will place a buy stop at 15095

stoploss at 15017

We are willing to risk 3% of our account balance of $13542.15 which is $406.26 we will buy 5.2 contracts ( 406.26/78 = 5.2)

If the trade is not entered by 10am i will cancel the order.

I doubt whether this trade will turn out to be our most profitable as i can't see a massive break to the upside from 150 but you never know, that's why we'll put the trade on with our stops in place and see what happens.
__________________
IF IN DOUBT GET THE **** OUT!

No need for a course http://www.trade2win.com/boards/gene...tml#post707344

Simple cable system http://simpledibs.blogspot.com/ http://www.trade2win.com/boards/trad...side-bars.html

Last edited by foredog; Nov 18, 2008 at 9:04am.
foredog is offline   Reply With Quote
Old Nov 18, 2008, 10:02am   #84
 
foredog's Avatar
Joined Oct 2007
foredog started this thread Trade cancelled, cable has traded through the open and is now in negative territory....
__________________
IF IN DOUBT GET THE **** OUT!

No need for a course http://www.trade2win.com/boards/gene...tml#post707344

Simple cable system http://simpledibs.blogspot.com/ http://www.trade2win.com/boards/trad...side-bars.html
foredog is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Pin bars...and let this be the last of it. trader_dante General Trading Chat 27 Apr 5, 2009 5:14pm
Good book with simple trading strategies inside peter450 General Trading Chat 10 Feb 14, 2009 10:53am
Inside Bars nkruger Technical Analysis 12 Jun 24, 2008 2:30pm
Inside Track Chicken Curry The Foyer 2 Feb 17, 2006 10:18am
Looking inside a bar. 1 min vs. 15 min bars ... brooksrimes Trading Systems 0 Aug 30, 2005 10:40pm

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)