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The Pip Range Bar Continuation

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Hi all,

Due to a couple of requests (thanks Aaron and TraderX), I'm going to detail an idea that i've used for a while and brings a good deal of success.

I'll borrow my post from the video thread to get this one going:

Firstly, we're looking at pip range bar charts here, specifically a 5 pip range bar. Also we're using Ichimoku indicator for purposes of finding a suitable entry. The Ichimoku indicator is comprised of several moving averages and we are interested in 2 of them depending on the direction you're trading.

Before anything happens, you need to see a clear trend in place. An example is below.



This is EURAUD yesterday, 28th March.

Once a clear trend is found, wait for price to touch the Senkou Span A which I have highlighted below:



Further, once price has touched the Senkou Span A (for shorts) you wait for price to close below the Kijun Sen which is the Blue line.

For long trades you wait for price to touch the Senkou Span B and then close above the Kijun Sen which is the blue line.

Here is a trade from Thursday 30th March:



EURUSD was in a clear downtrend and price touched the Senkou Span A and then closed beneath the blue MA. A quick 10 pips.

I'd treat this with a 15 pip stop and a 10 pip target.

I'll keep posting trades as and when I find them.
 

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  • #2
As I'd copied posts from the other thread, it's showing that post date even though I only posted it today (3rd April).


Anyway, first trade of the night for the continuation method. General direction has been down for GBPAUD since UK data and price clipped the edge of the cloud and immediately closed back beneath the Kijun Sen and took 11 pips.

 

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Probably not the cleanest of examples but if you zoom out, EURAUD has only gone in one direction today and that is up! +10 will do. Interesting trade for another reason as I've just gone short on a divergence setup..


 

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  • #5
Here is a nice trade for +10 prior to private NFP.

GBPUSD had a solid pop higher on the back of good data and then slowly drifted off its highs. Price clipped the Senkou Span and then closed above the blue MA line (Kijun Sen).

 

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This looks to be my favourite strategy so far. I like the simplicity but I guess the only downside is having to watch the screens for a while. Any tips on setting it up?
 

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Here's a trade from GBPAUD that didn't work. Price closed below the Kijun Sen and whilst it scraped to +3 it never got going. It looked perfect at the time but not every trade is going to work as much as I'd like it to!

 

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Here is a follow up trade on GBPAUD.

Since the trend is still to the downside, I allowed myself some freedom and used the Senkou Span as a guide for getting into a trade. Once price closed back below the cloud it had a small retrace higher before being rejected and forming a bearish pinbar....that's like an alarm and the first step for watching it closely. Once price closed below the Kijun Sen, it was time to enter. +11.5 pips.



Once the kids are in bed I'll record a quick video which should make it nice and clear.
 

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  • #11
A quick trade on EURAUD post NY open. Similar to GBPAUD above, EURAUD has been sliding lower for the whole of the UK session and I blocked out the 'noise' of price going above the cloud and concentrated on the downside movement. Price closed below the cloud, retraced and touch the Senkou Span A and closed below the Kijun Sen for a quick +10.



A slightly clearer trend identification than above showing EURAUD in a downtrend:

 

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An agonising trade here on GBPAUD. I caught a good entry once price was closing above the Kijun Sen and it missed the profit level by 0.1 pip. Ended up closing out for +0.5 pips. Be interesting to see which way it goes as I'm also short due to divergence at an excellent level.

 

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That has to be a record for EURUSD! It's taken the best part of 4 and half hours to move 10 pips. Painfully slow but at least on this occasion it was rewarding.

Price had been in a consistent downtrend starting from the back end of NFP and continued into the Asian session this morning. Price touched the edge of the cloud (Senkou Span A) and then closed below the Kijun Sen on the start of the UK session. +10.

 

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  • #15
Here is a trade I missed on GBPUSD as I was watching other pairs. Hopefully you can see where the setup was and where the entry was?

 

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Seems to be the night for very close calls. This was a nice setup with price clipping the Senkou Span and closing below the Kijun Sen and I got a good entry at 1.4013 and it missed the target by 0.1 of a pip. Closed it out for +2.

 

Alejandro

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There is famous saying in spanish

Es mejor tostón asegurado que dime apostado.

Bird in hand two in the bush :wink:
 

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  • #18
EURAUD has enjoyed a big run up for most of the day and in a clear uptrend. These trends make for good opportunities using this particular method.

Price clipped the Senkou Span and closed above the Kijun Sen and allowed for +11 to be taken.

 

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  • #19
Similar to the above trade, GBPAUD went on a massive tear higher post PM May's speech and the key to this trade is allowing for the extra volatility. Instead of a 15 pip stop I used a 20 pip stop and had I not I'd have lost the trade. Ended up getting +12 after some positive slippage.

 

Wull

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Hi John, a nice trade.

A question for you....are you watching a normal chart also when trading this?
 
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