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Oh yeah. That 30 level has been Super R.

Trendline for breakout Trendline for profit target See attached YM 5m chart

I understand. Some traders do this and it works for them. I probably have 7+ rules too for entry and exit but I just don't have them coded. And it works for me. I could go over my method with you if you'd like, although a lot of it is in this thread already if you piece it together...

I trade like the charts that I have been posting here. Many of these charts have actually been real time for actual trades. I draw support/resistance/trendlines and then wait for the market to break these lines. Of course there's a little more to it than that, but not much more. Finding...

chart update

John, an inside bar, like almost anything else, of course can not be used alone. Like I stated earlier: "inside bars/contracting candles combined with additional technical analysis are one of the most powerful tools around." I don't think that anyone suggested using them alone.

Look for tight bars at one of these lines.

5m Dow 6-16 set up with contracting candles and a trendline for guidance.

I think it shows a good fight between bears and bulls, for a long time, so when it breaks, it should break good as either the bears or bulls give in.

Yeah, they are a nice clue with discretionary set ups. I never really thought about using them in a system. I'm sure it could be done though.

Hello mhashe, If you have time and if you don't mind, would you post some charts showing these inside bars that led you to a trade. Personally, I think that the inside bars/contracting candles combined with additional technical analysis are one of the most powerful tools around.

I noticed today's action as well. I believe it is just the current trading action, no funny business or anything.

FWIW, update. 5m YM June

Update.

Here are the "trendlines" that I have at this point today on June YM 15m chart.

This is an interesting chart duard. Thanks. http://www.elitetrader.com/vb/attachment.php?s=&postid=756801

Try using them as: Trend indicator: up, down, sideways Support/Resistance: if your trading instrument has shown that it uses xx moving average as support/resistance in the near past, then it may again in the near future.

Well, try, try again . http://www.elitetrader.com/vb/attachment.php?s=&postid=756439 That one didn't work, but, hey, a new trendline and a new trade right ? (see chart attached)

Nice.

Let's see what plays out. See chart