Thanks Remo. I haven't tried this method on stocks yet, but have been having some good success on currencies over last few months, and looking back at my trades, I agree with Monkeyz - it definitely works best when there is something else to support the move such as a bounce off a moving average or trend line. I have stopped trading currencies this week though, as it looks like a few trends might be on the verge of changing.

Please bear in mind that the scans results could be from more than 1 day away .So it could be from 2 days back

SGP.L SMP.L RPS.L RPC.L RDW.L PSN.L PNN.L PARA.L NMC.L NG.L IPO.L HWDN.L HSV.L HRI.L HAYS.L GFRD.L DOM.L DOPR.L DAB.L CWK.L CCC.L COLT.L BTG.L BT.L BETF.L BDEV.L BAG.L BAB.L AZEM.L ABGL.L WPP.L WOS.L VOD.L VCTX.L SL.L SMIN.L SMDS.L SRP.L SGRO.L SMT.L SDR.L RSA.L RMV.L REL.L RUS.L PMO.L PFL.L PHNX.L PLI.L PSON.L NWRR.L MUT.L MCRO.L MNZS.L MKS.L LGEN.L KGF.L IHG.L INF.L IAP.L HSBA.L HGGH.L HSTN.L FDSA.L FXPO.L FENR.L FCPTL.L EXPN.L ELM.L ECM.L DEB.L DLAR.L CSR.L CRH.L CTY.L CNE.L BNKR.L BKGH.L BARC.L BAES.L AV.L ARM.L AMEC.L ATST.L AFRE.L ASL.L

Inside scans for 29th attached.

290113

M.

10pm to 10pm is when the next days candle comes out. so a full 24 hours from 10pm uk time
Its got some thing to do with the americans time table.
spreadbetting companies change at 12am so wont be reliable to use.

Forex market opens on Sunday 5 pm EST (10:00 pm GMT), closes on Friday 5 pm EST
(10:00 pm GMT).

Hi Amo,

This would be broker specific but yes watch out for those Sunday bars.

M.

When using daily charts for Forex does the daily candle stick represent a full 24 hours, i.e. 12am-12am?

I have been using IG index which also has a candle for Sunday which threw me at first because this candle is for a few trading hours therefore pretty much all of them would be an inside bar. Its only shown on the daily.

EURUSD & CADCHF looking like the best of the bunch for today:

EURUSD

dl.dropbox.com/u/24866576/January%202013...%20Spot%20280113.gif

CADCHF

dl.dropbox.com/u/24866576/January%202013...%20Spot%20280113.gif

M.

I had been testing this strategy in a demo account which unfortunately was closed on Thursday due to the 14 day period being up, annoying as I am a paying customer with a live account I have with IG Markets!

I had two trades on the go with them at the time being the USDCHF and GBPEUR. I had a number of other orders but can't remember all the pairs.

USDCHF was and would still be in good profit and the GBPEUR would now also be in good profit. The key is looking for this set up near major support or resistance.


dl.dropbox.com/u/24866576/January%202013...%20Spot%20250113.gif


dl.dropbox.com/u/24866576/January%202013...%20Spot%20250113.gif

M.

Hi, I have started trading this but didn't get chance to do it a couple of nights ago. From a look at the charts yesterday it seems it was the worst possible night to miss setting up trades.(just my luck). Did many of do you well from Wednesday trades?

Amo

Scans for the 23rd below:

dl.dropbox.com/u/24866576/January%202013/230113.xps

Cheers,
M

hello.

Trading every Inside Bar, is not the best way of going about things. An inside bar on Support or Resistance is the best way.

If you do trade every inside bar, be mindful of near by

1. 0000 numbers, these are psychological numbers and reversals happen , so you don't want to short or go long into them. As the market will usually reverse there.
2. Monthly and Weekly Pivots
3. Weekly Support/Resistance, areas and levels which are touched multiple times.
4. Weekly/Monthly Trend Lines, price more than not bounces off a trend line

Just my 2pence

Today's scan below, GBPEUR below 1.2?

https://dl.dropbox.com/u/24866576/January%202013/160113.xps

dl.dropbox.com/u/24866576/January%202013/160113.xps

M.

Hi Monkeyz

I am also using updata can you please let me know how to scan for inside bars. I would be more than happy to share some of mine of P&F.

Can I request you to email me.

Thanks
Ramu
This email address is being protected from spambots. You need JavaScript enabled to view it.

Hi Ronnie,

No was looking at the AUDCAD last night. Here is a chart from this morning.



dl.dropbox.com/u/24866576/January%202013...%20160113%200745.gif

M.

Amo, you trade every inside bar so even if have a trade set up for an inside bar and then another inside bar occurs you would still do a second trade.

Hope this make sense too!

ronnie wrote:
Ronny if a trade has been set up for an inside bar and then before this is triggered another inside bar occurs (for example the next day). Would you set up a second trade in relation to this second bar or just leave the existing one to be triggered?

Hope that makes sense.

The inside bar signal seems a lot stronger in a trending market as a continuation trade. Looking back through your trades that you posted Ronnie, the majority of winners were trades against the yen in particular the $ which was in a significant upward trend....

Hi Monkeyz,

Do you mean AUDUSD? Just put my trade in now for that one. Have had few losses recently hope this does not continue to be the case but I guess its just part and parcel of trading.

Good idea about the scan! Looks good mate.

AUDCAD looking the best of the bunch?

https://dl.dropbox.com/u/24866576/January%202013/150113.xps

dl.dropbox.com/u/24866576/January%202013/150113.xps

Most of them are close to major resistances / support in the case of the GBPUSD.

Cheers,
M.

It saves as a .xps file from Updata.

Updata isn't the best for reporting, I can do .csv for a list with no charts or a screenshot of the pairs - again with no charts. Copying and pasting into word and saving as a pdf causes issues with blank pages so I arrived at .xps!

Happy to take feedback as to the format I save the report as.

Cheers,
M.

Hi Monkeyz,

Thanks for this, what sort of file is the dropbox file as safari can not open ?

Hi all,

After Ronnies inside-bar blog I thought I'd set up a scan within Updata to look for inside-bars. It's quite quick to do and hopefully will provide a heads up to anyone looking to trade this system. As the report is automated the're wont be any support or resistance lines or unfortunately the E21 but I'm sure with the various charting packages out there this will be quick to add to see if it meets the criteria.

I haven't scanned all available pairs and have mainly stuck to those with low spreads, as well as a few indicies, Gold & Silver. See the attached link for the list of instruments:

Pairs & Indicies covered

As I can't commit to a specific time each evening I'll aim to run it post 6pm so you may need to monitor the close before committing to the trade. The scan is based on the previous 3 days price action.

dl.dropbox.com/u/24866576/January%202013/140113.xps

Hope people find it useful,
M.