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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #1,441
  • Oct 9, 2009 10:25am Oct 9, 2009 10:25am
Quoting Ryanmcd
1st loss on the week, it happens
ryan, can i assume this was a sup/res trade you saw?(as pipsulike pointed out, there was no div). just want to confirm. thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: ryan.gif Size: 28 KB
  • #1,442
  • Oct 9, 2009 10:26am Oct 9, 2009 10:26am
Quoting PIPer
Took this one! Let's see how it plays out...

Comments anyone?

Thanks
I assume your in and therefore didn't wait for the break?

fine trade but I would have waited for the break..

just my opinion of course!

Tom
  • #1,443
  • Oct 9, 2009 10:29am Oct 9, 2009 10:29am
Quoting dhh
ryan, can i assume this was a sup/res trade you saw?(as pipsulike pointed out, there was no div). just want to confirm. thanks.
Dhh,

I think that was the trade Ryanmcd was talking about...

div on my charts...

Tom
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_09_10_2009.JPG Size: 60 KB
  • #1,444
  • Oct 9, 2009 10:32am Oct 9, 2009 10:32am
Quoting david4u
I have been following this wonderful thread for a while .
Can someone pls take a look at my chart .
pin #1 - perfect setup . With the trend + div
pin #2 - CT , no div , so no entry .
What is your buffer for confirmation entry ? I mean how many pips bellow the low of pin#1 will be your entry point ? 2-5 pips ?
tks 4 your help
david4u
david, just my comments on pin #1:
the market was going sideways at the time, so it's not a trend trade. notice the pin was above midBB and 21ema.
Attached Image (click to enlarge)
Click to Enlarge Name: 9 oct 09 eu.gif Size: 128 KB
  • #1,445
  • Oct 9, 2009 10:35am Oct 9, 2009 10:35am
I like the location. Before the pinbar occured, I had already drawn a PPZ there on the 1hr chart (see attachment).

But price has not yet broken the low of the pinbar so in my opinion you got in way too early.

Quoting PIPer
Took this one! Let's see how it plays out...

Comments anyone?

Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: jankone37.png Size: 47 KB
  • #1,446
  • Oct 9, 2009 10:40am Oct 9, 2009 10:40am
Quoting pipsulike
Afternoon all, the chart is of todays EUR/USD, I have marked the chart, just wondered your thought on which candles you would consider to be pinbars if any?

Cheers
just looking at the pin bars(not analysing the trades), i try to be picky and DEG looks good to me. the others don't look good because of the nose/body/or the close.
  • #1,447
  • Oct 9, 2009 10:48am Oct 9, 2009 10:48am
C, E, G, out of those 3 I like C the least due to the short tail.

I'd like to refer you to an older post I made with 2 very informative white papers on pinbars; here you go.

Quoting pipsulike
Afternoon all, the chart is of todays EUR/USD, I have marked the chart, just wondered your thought on which candles you would consider to be pinbars if any?

Cheers
  • #1,448
  • Oct 9, 2009 10:49am Oct 9, 2009 10:49am
Hi Everyone

Just got onto this thread looks interesting....

Is ther a set of indicators and templates or can some tell me the setting for the EMAs and RSI

cheers
  • #1,449
  • Oct 9, 2009 10:55am Oct 9, 2009 10:55am
Quoting fat_tom
Dhh,

I think that was the trade Ryanmcd was talking about...

div on my charts...

Tom
tom, i see div now don't usually zoom in that much. thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: ryan.gif Size: 28 KB
  • #1,450
  • Oct 9, 2009 10:58am Oct 9, 2009 10:58am
Artov, dhh, thanks for your input guys really appreciated. Being relatively new to this thread and fx its good to know that i am not in a totally differnt ball park.

Thanks for the link artov, i will have some good reading over the weekend.
  • #1,451
  • Oct 9, 2009 11:08am Oct 9, 2009 11:08am
Quoting artov
I like the location. Before the pinbar occured, I had already drawn a PPZ there on the 1hr chart (see attachment).

But price has not yet broken the low of the pinbar so in my opinion you got in way too early.

You were right .

Got stopped out.
Stay on the PIPest side of life!
  • #1,452
  • Oct 9, 2009 11:10am Oct 9, 2009 11:10am
Does anyone have the AHA pin bar alert custom indicator that you can post? Thanks, Paris
  • #1,453
  • Oct 9, 2009 11:11am Oct 9, 2009 11:11am
Quoting ab1
Hi Everyone

Just got onto this thread looks interesting....

Is ther a set of indicators and templates or can some tell me the setting for the EMAs and RSI

cheers
Main indis are rsi 6, bband 18,2, 21EMA and 50SMA.

Hope it helps.

Kakyn.
  • #1,454
  • Oct 9, 2009 11:16am Oct 9, 2009 11:16am
Quoting Paris Hilton
Does anyone have the AHA pin bar alert custom indicator that you can post? Thanks, Paris
There you go
Attached File(s)
File Type: zip PinBar.zip   12 KB | 559 downloads
  • #1,455
  • Oct 9, 2009 11:26am Oct 9, 2009 11:26am
Quoting Kakyn
Main indis are rsi 6, bband 18,2, 21EMA and 50SMA.

Hope it helps.

Kakyn.
Thanks Kakyn,

Very helpful..... OK so I am right in assuming both the EMA and SMA are to the "CLOSE" ?

An looking at my picture below, I guesss with are simply looking for RSI Divergence with a pin bar. Although I havent quite sorted out from the indicator why some of the divergence lines on the chart are dotted and some solid ?...But it looks great so far I think I could work with this
Attached Image (click to enlarge)
Click to Enlarge Name: pin bar divergence.jpg Size: 103 KB


Cheers any help would be well recieved...thanks
  • #1,456
  • Edited 11:44am Oct 9, 2009 11:34am | Edited 11:44am
Quoting Ryanmcd
1st loss on the week, it happens
Thanks for the chart Sir.
Wow, our M5 master is still human after all
i dont know what (reasons) made him go long here, but i believe this was an aggressive trade on his part

Key points to learn from this one:
-PB is slightly smaller from previous bearish bar (size depends on your feed)
-2 bars following the PB failed to present/show upward momentum
-countertrend trade: WTB (Walking The Bands) is on-going
-Trend proofs: widening upper & (specially) lower BB; price being below 50sma, 21ema & midBB; slope of midBB & 21ema (pointing down) [50sma is a slightly long-term MA so it reacts to price movement belatedly compared to the first two]


[WTB: occurs when price (continuously/repetitively) touches/tags lower or upper BB --- a possible trend continuation signal]

Hope this helps the newbies
[for reference: see the same chart by fat_tom & dhh; thanks both!]



Quoting dhh
ryan, can i assume this was a sup/res trade you saw?(as pipsulike pointed out, there was no div). just want to confirm. thanks.
if we add this confluence (S/R, PPZ), then 1.4740 area was a PPZ
  • #1,457
  • Oct 9, 2009 11:40am Oct 9, 2009 11:40am
Quoting ab1
Thanks....OK so I am right in assuming both the EMA and SMA are to the "CLOSE" ?
... Although I havent quite sorted out from the indicator why some of the divergence lines on the chart are dotted and some solid ?...But it looks great so far I think I could work with this
Yes

dotted line div = hidden div
solid line div = regular div.
(see my previous post containing a link about divergence)
  • #1,458
  • Oct 9, 2009 12:30pm Oct 9, 2009 12:30pm
Quoting supremeChaos
Thanks for the chart Sir.
Wow, our M5 master is still human after all
i dont know what (reasons) made him go long here, but i believe this was an aggressive trade on his part

Key points to learn from this one:
-PB is slightly smaller from previous bearish bar (size depends on your feed)
-2 bars following the PB failed to present/show upward momentum
-countertrend trade: WTB (Walking The Bands) is on-going
-Trend proofs: widening upper & (specially) lower BB; price being below 50sma, 21ema & midBB; slope of midBB & 21ema...
Yep I lose about 30-40% of the time, no biggie if you R:R is spot. Some people never post losses just the wins after the fact Also it was a high risk trade, had some support but not that great. As I said in the past if I get 50% winners a year it's still over what a doctor makes with less hours
Keep taking CT trades, I need more money
  • #1,459
  • Oct 9, 2009 12:33pm Oct 9, 2009 12:33pm
Quoting supremeChaos
Yes

dotted line div = hidden div
solid line div = regular div.
(see my previous post containing a link about divergence)
Im using one of the RSI divergence indicators to help me identify Divergence...... Funny that eh !

The one Im using the alarm doesnt stop going off , its like in a loop, even if I switch off the arlarm, anyone come accross this ?

cheers


ab
  • #1,460
  • Oct 9, 2009 12:41pm Oct 9, 2009 12:41pm
Quoting ab1
Thanks Kakyn,

Very helpful..... OK so I am right in assuming both the EMA and SMA are to the "CLOSE" ?

An looking at my picture below, I guesss with are simply looking for RSI Divergence with a pin bar. Although I havent quite sorted out from the indicator why some of the divergence lines on the chart are dotted and some solid ?...But it looks great so far I think I could work with this
Attachment

Cheers any help would be well recieved...thanks
Yes both are based on "close"

Solid lines indicates regular divergence while dotted lines indicates hidden divergence

EDIT: Ops questions answered by supremeChaos
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