under low / above high or just a few pips because moneymanagement...
James16+Rayanmcd(Jan kone) and ME 7 replies
DislikedI think you can't know why. but you can know and learn "how"
( when to exit if it's 15 min +- 2 pips, how to set sl, how to set moneymanagement etc)
i think it was good looking setup. next time with trend trading you can have this small loss 2-3x $ backIgnored
DislikedNo real reason really, if you wanted to be picky though you could ask for a better bar, a close within the previous bars range is the more prefered bar. Also you could play the break of the bars low, will keep you out of some bad ones, not sure honestly though if it is more profitable or not, but its how I was taught to play them from j16 thread. Of course you should understand this isn't like the huge probability method, just a way to put the odds slightly in your favor and to do it over and over and over. Or you could be pickier, take less set...Ignored
Dislikedit was "joke"
another , same example is like poker cards, you just play with 10JQKA or pairs...
it's same thing with pinbars...if you play 2-7 combo, most time you will be losing money..Ignored
DislikedHi Jankone, nice trade there!
Just want to ask you: would you take the setup earlier? I saw two ways of drawing the RSI Highs, one gives div and the other doesn't. Which of the two recent Highs carry more significance? Thank you!Ignored
DislikedHi guys, can you help point out why I should not take this trade (the PB in shade), even though it's with trend? Thanks!Ignored
DislikedWarren,
if i may answer...
why not take that PB?
it's CT (above the EMAs) + RSI bearish div. + PB
Also, no one noticed that the divergence line u plotted/drew is incorrect in relation to the PB u are referring to.
There WAS in fact, a bear. div on RSI. the divergence/s u plotted are for the 4th/5th bar prior the PB. draw a line over the highs of those bars & the PB high & u will get the divergence.Ignored
DislikedWarren,
all the oscillators are turning up.
this same trade is similar with your previous post here. i responded to that here.
i said "....in fact, u opened a buy trade when the MACD was crossing the "0" level. IMO, the best trades are "extracted" on/near the Bolli. extremes -- the upper or lower Bolli. bands. the middle Band trade setups u should be more careful."Ignored
DislikedHere's a tip on using BB...
I believe Ryanmcd has never mentioned this.
I'll use the chart posted here by happy camper.
In that eur$ M5 chart, u can see the huge downmove on the right side of the chart. (time i think is July8 +/- 17.55, where the RSI reversed from the 50 level, starting around the 1.3915 area, & price was touching the EMAs & mid-BB)
U'll notice price "hugging"/touching the lower BB. when price is hugging/touching the upper/lower BB, it is usually...Ignored
DislikedHi supremeChaos,
you are always welcome to answer
Yes, I also saw that div and in fact it's me who drew that div, that's why I said "I saw two ways of drawing the RSI Highs, one gives div and the other doesn't"
So my real question is in such a case, where the previous H of RSI does not give div but an earlier H gives div, it may also be tradable if the PB's location is good (i.e. upper/lower BB)? If the PB's location is not so ideal, is it better to avoid?Ignored
Disliked..... I think for a strong trend, price will only retrace to mid BB before resuming its trend. Would you take a PB at mid BB in this case?Ignored
QuoteDislikedIf the PB's location is not so ideal, is it better to avoid?
QuoteDislikedI know you strongly promote the idea of entering at upper/lower BB. Emm, very often it's counter-trend, which I still have to get comfortable with.
Dislikedjust a heads up, if $ weakens further (few hours/days), now is an opportune time to watch/study REAL-TIME (in different timeframes) the Bolli hug/touch. probably u'll get to see this in most $-based cross.Ignored
QuoteDisliked.......the H4 PB formed with a (regular) bullish divergence (on CCI14). most likely RSI & MACD (& possibly Stochastics too) formed a similar bull divergence........