Simple Inside Bars

[foredog]

foredog: apologies for clogging up your journal with this stuff - I'll butt out & allow you to continue with your work. I like the fact your content is free of all that indicator garbage. Keep it clean & you'll keep it honest


No problem at all, happy to have others contributing and pointing things out, there's always ways to improve, keep it up guys.


Another low, how long can this keep going? who knows but we'll just keep riding i down as best we can.

New stop 15413(15441 -15386 = 55/2 = 27.5 (28))

 

[foredog]

Chart from earlier

Here's the chart of the last few days until earlier this morning

 

[foredog]

Another low, how long can this keep going? who knows but we'll just keep riding i down as best we can.

New stop 15413(15441 -15386 = 55/2 = 27.5 (28))

 

[ampro]

$ bullish slant continuing to be honored, clearly visible via the lower top steps on your hourly sheet as price vibrates towards the late October low magnet @ c1.5250

which now exposes 1.4850 & 4450 respectively (weekly reference)

 

[foredog]

More lows on the 1400 bar

New stop 15295 (15367-15223 = 144/2 = 72)

Cable plunging to new lows again, so much for me expecting a bounce! Just show you should trade what you see not what you think!

New stop 15254 ( 15295 - 15213 = 82/2 = 41)

Stop will now stay at this level until tomorrow when well either have been hit or look for more lows.

so far if the stop gets hit we'll have taken 514 pips for a 55 pip risk, that's over 9:1 not a bad return

 

[foredog]

More lows on the 1400 bar

New stop 15295 (15367-15223 = 144/2 = 72)

Cable plunging to new lows again, so much for me expecting a bounce! Just show you should trade what you see not what you think!

New stop 15254 ( 15295 - 15213 = 82/2 = 41)

Stop will now stay at this level until tomorrow when well either have been hit or look for more lows.

so far if the stop gets hit we'll have taken 514 pips for a 55 pip risk, that's over 9:1 not a bad return

 

[foredog]

6am open 14885

There was an inside bar from the 5am and 6am bars but i didn't catch this

We're still in our trade and the market made a new low with the 7am bar so moving stop

New stop 15082 (15254-14910 = 344 /2 = 172)

 

[JTrader]

This simple inside bar turned out well.

 

[foredog]

Shot.

 

[foredog]

WE now have a buy signal

9am bar 14893 - 14993

10am bar 14905 - 14951

So stop buy order placed to buy 5.4 contracts at 14955 (293/54 = 5.426) Stop loss at 14901

I have used the previous balance as our profits from the short trade have not been booked yet.

I have now moved the stop on the short to 14955 as this is a reversal signal.

 

[options]

JT You do realise that you have 'nicked' Wasps recent signature don't you.


Don't make him come round there. He's a big bloke!

 

[JTrader]

JT You do realise that you have 'nicked' Wasps recent signature don't you.


Don't make him come round there. He's a big bloke!

I know wasp i do. I did get that quote from him, but he didnt have the copyright so finders keepers!

 

[foredog]

We are now out of our short GBPUSD for a hefty 817 pips and have gone long at 14955

This trade has returned 14.85 times Risk:reward and a handsome profit of $4330.1

so our account balance is now $14099.25 so we're up over 40% after 3 trades, what a shame it's a demo.

RECAP

NO trades 3

Losers 2 -$496.35
winners 1 +$4330.1

Total +$4099.25

Average +$1366.41

I'm sure this will average will come down over time, but at the moment it's nice!

 

[foredog]

Quick in and out, stopped out of long GBPUSD at 14901 for $300 loss

RECAP

NO trades 4

Losers 2 -$796.35
winners 1 +$4330.1

Total +$3533.75

Average +$883.43

 

[wasp]

I know wasp i do. I did get that quote from him, but he didnt have the copyright so finders keepers!

Like water... I have moved on, changed, adapted... 80's song lines are the way forward!

 

[UKtradergirl]

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?)

 

[skelly22]

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?)

Hey Trader girl,

Yes I’d say we are looking for a long break according to the DIBS rules but I’m 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 I’ll wait for a break and retest of the wedge lines.


Shane

 

[UKtradergirl]

Hey Trader girl,

Yes I’d say we are looking for a long break according to the DIBS rules but I’m 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 I’ll 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.

 

[foredog]

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 Doooooooooooooooooooooooowwwwwwwwwwwwnnnnnnnnnnnnnnnnnnn.

but i'm often wrong!

 

[foredog]

Would've been a good bear!

to scalp