Simple Inside Bars

Take a look at the direction or close of the inside bar as well as tl?
(Another old fool:)

I taken a short on the 15min IB at 0826 5276.5

The averages are bearish. At 0852 support is being tested at 5261

Yester day I lost 9 points
 
I took 10 points out of that. Could have been much more but got greedy and hung on too long.
 
Hope it's going well Split.

No real decent price action for an entry on cable for this method, there was a (hindsight) pin bar if you look back now at 7am, but at the time it had retrace to the middle late in the hour and didn't look ready for a strong rally like that.

Only thing lost is an opportunity so no real harm done.
 
Not prepared to try for more after yesterday! +53 points this morning. I've got last week's shambles taken care of, now.
The IB can be a good trigger. There were two up there this morning, before 0900. and it seems to me that it can be used several bars afterwards, if it is slow to come back. I entered on the second one but did not see it, then. I was working on the first.

Hope you have a good day. What's left of it. I'm stopping until tomorrow.

Regards, Split
 
Long CAble at 16577, stop @ 57. Don't hold much hope after todays rally but you never know, the US could push it through 166.
 
low of 1500 bar is 16604 so moving stop up to just below the round number to 16597 so hopefully 20points locked in.
 
low of 1500 bar is 16604 so moving stop up to just below the round number to 16597 so hopefully 20points locked in.

You should have done well with that one. I think I read, a way back , that you close the session around 1630? Do you leave profitable trades running with a stop?
 
I was stopped out of the trade at 16597. But at least it's another 20 points in the account.

Split in answer to your question, yes i would leave a trade running overnight, hopefully with a stop at breakeven or better.
 
Hey foredog thanks for keeping this going,I've probably learnt more from this thread and it's links than any of the books I've read.
Quick question do you take the high/low of the previous bar as your entry or is it still +/- 4 from there
 
We have an Inside bar today on Cable around 10am...using hourly bars....how would you trade it Donovan ?:)
 
Cable was down on the day and pretty much touching the 50ma so i had a short loaded, didn't touch it though.

Could've argued that cable is in an uptrend so take the reversal, depends on your trading style etc.
 
FT 15M showed no IB, this morning. Good run for 30 odd points, though. I didn't do anything this morning.
 
Hey foredog thanks for keeping this going,I've probably learnt more from this thread and it's links than any of the books I've read.
Quick question do you take the high/low of the previous bar as your entry or is it still +/- 4 from there

i take the high/low of the IB +/-3 and use that as entry.

Hope that helps
 
We have an Inside bar today on Cable around 10am...using hourly bars....how would you trade it Donovan ?:)

Actually I have an order in at 16583 which it hasn't yet reached.
I have a 60 day MA set up on my chart and tend to go with the trend of that.

Oops just as I'm writing I've been pulled into EUR/JPY at 13695 stop 20 pips below,this was from th IB also at 10
 
Actually I have an order in at 16583 which it hasn't yet reached.
I have a 60 day MA set up on my chart and tend to go with the trend of that.

Oops just as I'm writing I've been pulled into EUR/JPY at 13695 stop 20 pips below,this was from th IB also at 10

Well that didn't last long -20
 
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