I got it… but how you calculate it ? Sorry Im a newbie.
toby in USD/CAD is forming a inside bar also, what you think ? it looks like down trend
Using this system has caused me to follow a set of rules. Something I desperately needed. I did modify the rules a little to suit my trading style though. On the 20th I traded AUDNZD, NZDUSD and GBPCAD and was profitable in all three trades. So far with this system I am up by 250pips and have an active trade on the AUDNZD that is currently up by 50pips.
Anyway, thank you Toby!
One thing I’d like to add is that you may see inside bars in currency pairs that are highly-correlated e.g. AUDUSD and NZDUSD. I made the mistake of trading both last week. If you’re trading two highly-correlated pairs, then you’re simply doubling your position. Just something to keep in mind.
I’ve setup a pending long on the NZDUSD. There’s also an inside bar on XAGUSD but correlation between silver and the kiwi is high (0.8+).
Where did you get the figure 0.8? Is there a reference chart somewhere?
There is also an inside bar on USDCAD. Gotta watch for parity on this one though.
sorry for late post, i did enter my usdcad (short) last night still waiting for result, as regards to your question perhaps maybe kingkaivar can answer you with that, just dont have much time explaining it in details, my simple explanation is add 5 point on top of bar (for long) and deduct another 5 points at the tail of the bar (for short).
im happy for you buddy!!!
kingkaivar i dont care if it is correlated or not as long as you follow the system mostly you always hit the jockpot lol!!! cheer mate help me here help the newbie:)
Hii people… looks like NZDUSD broke down. Anyway I will keep the order pending. Lets see.
None of my triggers was fired… I did order for USDCAD also.
i got lost in NZDUSD as well…
what you mean about that? how come? if you follow the system your pending order still not yet executed…
here the highest price of previous bar (yesterday) 0.81192 your pending order should be 081242 (+5 pips) until this time you still have pending order if you follow the rule… go back to post #1 and read it again!!! cheers
i cannot make a pending order and i dont know the reason. i use MT4 for trading and when i put a sell limit of pending order, it displayed that invalid sl or tp…also it indicated that open price you set must differ from market price by at least 20 pips. Then i went straight away for instant execution with current market price for short NZ/USD
Hi littlemay, I did same mistake… but NZD/USD is not to sell is to buy, try buy stop and it will work.
Sell limit is when the price is above your price order.
Regards
if we follow the system for nzdusd, we should have pending buy order (buy stop) not sell limit!!! (sma21 is going north) and keep in mind im using 5 digit broker here.
usdcad hit my pending order, nzdusd is about to hit my pending too…
wait for result… hopefully 220 pips in couple of days!!! good luck guys!!!
Finally it fired NZD/USD… lets see what happen.
EUR/USD looks like breakout also.
NZDUSD start 20.1.2012 0.80500, sl 0.8000, tp 0.8151…today we almost get tp…stop on 0.8148 and turn back…we will see if we get tp soon…
100 pips for you congrats!!!
Thank’s to your system… 
USDCAD today is sell…gmt 18.07 (yesterday is inside bar), start 1.0062, sl 1.1120, tp 0.9962…now is 20 positive pips…if usd go south we are in “good train”
did you not trade the inside bar on the 24th nsdusd? at the moment im 80+ pips,… 20 to go… wait… yawn!!!