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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #461
  • Jun 24, 2009 3:11pm Jun 24, 2009 3:11pm
Quoting Jlr
This one would of been nice too. CT trade, quad bottom, no real divergence though, would have made me pass on it. Was also a trade before that, but didn't really make a lower low there, not super appealing, perhaps still tradeable. Still no definitive way of playing these CT trades, but I've noticed a lot of the runners come from double, triple, quad, etc, bottoms. I rarely have seen big reversals come about from just 5-20 mins or whatever of price action. Still a work in progress on the CT stuff, but would like to get it into my arsenal.

Yeah...
Note a "virtual" PB next to the one you marked. If you read those two "railroad tracks" bars, that followed the oin you marked, as one bar, you get M10 pinbar. Such combos happen every now and then and tend to work out well.
One Chart is Worth Ten Thousand Words.
  • #462
  • Jun 24, 2009 3:18pm Jun 24, 2009 3:18pm
Quoting Forex007
Note a "virtual" PB next to the one you marked. If you read those two "railroad tracks" bars, that followed the oin you marked, as one bar, you get M10 pinbar. Such combos happen every now and then and tend to work out well.
Ty, I used to do that a lot more, but found myself getting a little carried away, saying there are pbs everywhere. I guess 2 bar combines though are pretty legitimate. Would you like the trade more being as though there are 2 PB's back to back? I've never looked for 2 back to back, usually I am happy with the first one, interesting though, thx.
Mm probably don't need an answer to this, I will look for this in the future. Thx
  • #463
  • Jun 24, 2009 3:23pm Jun 24, 2009 3:23pm
Quoting Jlr
Would you like the trade more being as though there are 2 PB's back to back? I've never looked for 2 back to back, usually I am happy with the first one, interesting though, thx.
One is enough indeed, but that one didn't have any div; so another ("combined") PB adds weight to the real PB before it.

Multiple PBs (i.e. several in a row) could, sometimes, be a sign of trouble (indicating, in my view, that market has some doubts and 2nd thoughts).
One Chart is Worth Ten Thousand Words.
  • #464
  • Jun 24, 2009 3:44pm Jun 24, 2009 3:44pm
Quoting Forex007
One is enough indeed, but that one didn't have any div; so another ("combined") PB adds weight to the real PB before it.

Multiple PBs (i.e. several in a row) could, sometimes, be a sign of trouble (indicating, in my view, that market has some doubts and 2nd thoughts).
Gotcha, ty
  • #465
  • Jun 25, 2009 12:56am Jun 25, 2009 12:56am
Quoting ianf0ster
Hi,
Even though I got no response to my question about the continual alerting of SMJones divergence indi, I have decided to post again in here.( I don't mind being ignored - I am used to it.)

I have fixed the problem I had with it and have constructed some other divergence indicators based upon it which I have posted the elsewhere in FF.
But I think that they really belong here - even if most of you are not interested.

Ian
Thanks for the indicators Ian.......Much appreciated.

Leigh.
Our IMAGINATION is the true holy grail!
  • #466
  • Jun 25, 2009 3:20am Jun 25, 2009 3:20am
Quoting Leigh
Thanks for the indicators Ian.......Much appreciated.

Leigh.
It's hard to programme a good div indi. I believe Ryan used one which was part of TradeStation setup, but even so I don't know how reliable it was.

It's a much better idea to train you eye to notice divs; once you spot it, it takes a fe seconds to check with a vertical line.
One Chart is Worth Ten Thousand Words.
  • #467
  • Jun 25, 2009 1:33pm Jun 25, 2009 1:33pm
Really nice trade, trend setup pin, m30 timeframe. It just works everywhere
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  • #468
  • Jun 25, 2009 1:34pm Jun 25, 2009 1:34pm
another m15, after m30.
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  • #469
  • Jun 25, 2009 4:42pm Jun 25, 2009 4:42pm
Nice, where did you cut that 2nd trade? I think I have these trades down, but the take profit part I still am clueless. I feel like I should be going for more pips on the counter trend, and less pips on the trend ones, is this right? Could be totally off.
  • #470
  • Jun 25, 2009 4:45pm Jun 25, 2009 4:45pm
Heres 2 I took last night. First one I got taken out at cost, second one I took 74 pips, took it off at that 1.39 level as it wasn't worth holding past there. 2nd trade was almost an IB, off by 1 pip or so, maybe a tilty trade after taking cost on the first one. Should note I was watching the 1.40 area, and the 1.405 area for bearish PA. Was floor pivot at that 1.3980 level, considered it close enough to the area I was looking for PA at.

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  • #471
  • Jun 25, 2009 6:33pm Jun 25, 2009 6:33pm
Quoting Jlr
Heres 2 I took last night. First one I got taken out at cost, second one I took 74 pips, took it off at that 1.39 level as it wasn't worth holding past there. 2nd trade was almost an IB, off by 1 pip or so, maybe a tilty trade after taking cost on the first one. Should note I was watching the 1.40 area, and the 1.405 area for bearish PA. Was floor pivot at that 1.3980 level, considered it close enough to the area I was looking for PA at.

Attachment
Are those PBs at all?..
One Chart is Worth Ten Thousand Words.
  • #472
  • Edited 5:03pm Jun 26, 2009 4:59pm | Edited 5:03pm
Quoting Forex007
It's hard to programme a good div indi. I believe Ryan used one which was part of TradeStation setup, but even so I don't know how reliable it was.

It's a much better idea to train you eye to notice divs; once you spot it, it takes a fe seconds to check with a vertical line.
Hi Forex007,
No disrespect but I'm sure even you can't train your eyes to see them on my computer screen in the study... from my kitchen.

Ian

P.S. I mean that the alert when a divergence is found by the indicator is the best part of it for me.
  • #473
  • Jun 26, 2009 5:35pm Jun 26, 2009 5:35pm
Quoting ianf0ster
Hi Forex007,
No disrespect but I'm sure even you can't train your eyes to see them on my computer screen in the study... from my kitchen.

Ian

P.S. I mean that the alert when a divergence is found by the indicator is the best part of it for me.
Sure thing I cannot see them on YOUR computer (let alone from YOUR kitchen)

I trade for a living; in my kitchen I make tea and coffee and prepare food. Just kidding! If something works for you, use it by all means!
One Chart is Worth Ten Thousand Words.
  • #474
  • Jun 29, 2009 1:07am Jun 29, 2009 1:07am
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purdy
  • #475
  • Jun 29, 2009 3:32am Jun 29, 2009 3:32am
Quoting Jlr
Attachment

purdy
Nice one, Jlr!

I like when PB get rejected off some good level, like xx50 in that case. That it's typically all the way to the next key level (xx00 are always worth keeping an eye on).
One Chart is Worth Ten Thousand Words.
  • #476
  • Jun 29, 2009 3:44am Jun 29, 2009 3:44am
Ty, and thats a good point, didn't even notice that to be honest. I just caught it, got a little excited, and put some cash down
Here's another, not enough divergence for me and not with the trend enough, but I was still pretty confident. Happy to see it work out though nonetheless.

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  • #477
  • Jun 29, 2009 12:03pm Jun 29, 2009 12:03pm
a few pips under ema21/middle BB. it's usually "universal" TP.:-)

in ct you should expect less pips. but in trend trades, you never know . how long run it can be ... depends on many things (1st s/r, round numbers etc.)

Quoting Jlr
Nice, where did you cut that 2nd trade? I think I have these trades down, but the take profit part I still am clueless. I feel like I should be going for more pips on the counter trend, and less pips on the trend ones, is this right? Could be totally off.
  • #478
  • Jun 29, 2009 12:10pm Jun 29, 2009 12:10pm
I think you are doing great with this method! or something.
it could help to some people here .
anyway...

  • #479
  • Jun 29, 2009 12:13pm Jun 29, 2009 12:13pm
notice : rsi is enough for this. and please mark a bar what exactly are you talking about.

like this
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  • #480
  • Jun 29, 2009 12:18pm Jun 29, 2009 12:18pm
really nice pin , div. :-) i'm just in.
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