Hi NF, as we know there are many nuances to consider when trading with stochs, especially in OB territory. A good reason to considering ditching them in preference for Peter's simpler approach

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I'd consider much more upside on GU today as low probability. My best guess would be it needs to re-set/retrace for a while before resuming it's next leg long.

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...sure, i was comparing that approach with the use of stochs for determining direction of trades.

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Stochs are effective for determining trend, but i haven't tested them against PC's guidelines (long above 6am open, short below). He said he continued to be amazed at how effective this 'filter' was, even after 15 years trading DIBs...i guess ...

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Fantastic results, Skyline. Good trading

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...with 'ya, Jim. Long GJ too....for larfs. Edit:...GU @ b/e.

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Good post, Smikester...the essence of what Peter C was sharing with us We don't need to "think" too much, just keep working the edge trade by trade, day in day out.

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Agreed. Ready to pounce long there.

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It's an interesting one....i'm now short UJ despite price being above the 6am open. I see it more as a retracement and am willing to trade that plan, in this instance.

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Good for you....

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..if it's an IB that triggers, it's valid as per core rules. Discretion plays it's part...i will be taking it if offered but using lower risk. ..i refer you to post #1 for the Q you asked yesterday: "Should we not take the high/low of bar prior to ...

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The 1st post has now been updated with an unambiguous IB definition. I just use print screen when in Oanda and paste to an editor (Paint), edit and save as a gif. A bit long winded, but it's what i'm used to.

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Hi Moneda, no IB around that time. Oanda chart attached. Notice the Asian session IB, which might have tempted you short once the 6am open was out of the way....depending on what level of discretion you use against the strat.

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Yes, a sweet one. Thought it worth the risk even though it was late in the session, plenty of potential range play left plus strength was ticking up on EUR at the time.

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...with you on the EU short DB...on Oanda the IB low was the same as the preceeding candle low, but for me that's an OK setup. Stops are currently just above the IB high, c95.

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yes, it's taking GU's lead atm.

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Moved stops to b/e on GU, it's had enough time to shift, so not worth risking anything on that one now, imo. Short EU too now, stops still in the starting blocks.

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Nice one TC. I'm now short GU off the 7am(UK) IB.

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Agreed...i'm using 6am UK time, regardless of daylight savings. As PC said, it probably won't matter in the scheme of things.

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