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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #2,401
  • Dec 14, 2009 5:20pm Dec 14, 2009 5:20pm
BUOB = Bullish outside bar
BEOB = Bearish outside bar

Do a search for James16 for an amazing thread on price action, it is several thousand pages but will explain all you need to know about PA and it's worth the time it takes to read.

Nu

Quoting hoichoi
What is BUOB method guys
  • #2,402
  • Dec 14, 2009 5:33pm Dec 14, 2009 5:33pm
Quoting hoichoi
What is BUOB method guys
It means bullish outside bar. A bar with a high higher then the previous bar's high and a low lower than the previous bar's low ie: one that completely engulfs the previous bar....and also with a close in the top third (for a bullish outside bar). For more information see the James16 chart thread here on FF.
  • #2,403
  • Edited 7:18pm Dec 14, 2009 7:10pm | Edited 7:18pm
I've been reading through this post and things look interesting. Anybody care to critique this demo entry?I've got a pin + divergence with the trend according to the 50 ema. This is the GU 15 minute TF.

Thanks, all.
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  • #2,404
  • Dec 14, 2009 11:49pm Dec 14, 2009 11:49pm
Quoting forexfortson
I've been reading through this post and things look interesting. Anybody care to critique this demo entry?I've got a pin + divergence with the trend according to the 50 ema. This is the GU 15 minute TF.

Thanks, all.
well a couple things:

a. first we trade with the 21 EMA and the 50 SMA so here is what you're chart should've looked like...

a. the trend was up previously, but notice how the bands are running flat on the previous 10-11 bars so it's more of a countertrend trade where the pin is. If this was a trend trade, we avoid taking trades when price is between the 21 and 50...looking for pullbacks off the mid BB or the 21 EMA.

b. nit picking, but the par didn't close within the previous bar so it's technically not a pinbar.

c. also trading into a round number of 1.6300, notice how price had reacted previously? Not necessarily a deal breaker since you have divergence but something you might want to note for future reference.

d. with this method we prefer trading during peak times, this trade took place when only the Sydney market was open...leads to less liquidity, higher spreads, and more slippage.


but you have the gist of it down, just keep demoing, re-reading this thread, and looking over post by ryan, jankoke, and jigsaw. You'll have it down in no time.
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  • #2,405
  • Dec 15, 2009 5:47am Dec 15, 2009 5:47am
Thank you very much! I appreciate the feedback, bro. Just to recap a couple of points:

1. Use 21 ema primarily for what?

2. Trade this method through the NY/London and London/Tokyo sessions.

Otherwise I gotcha on the other points. That's a big help.

Be easy, bruh.



Quoting Icehocey77
well a couple things:

a. first we trade with the 21 EMA and the 50 SMA so here is what you're chart should've looked like...
... you have the gist of it down, just keep demoing, re-reading this thread, and looking over post by ryan, jankoke, and jigsaw. You'll have it down in no time.
  • #2,406
  • Dec 15, 2009 6:24am Dec 15, 2009 6:24am
Some opportunities today.
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All that matters is winning the week
  • #2,407
  • Dec 15, 2009 6:41am Dec 15, 2009 6:41am
Got my 2R on this one.

After entering, I realized we had some decent support at 1.6220 though, so I probably wouldn't have taken it again...
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  • #2,408
  • Dec 15, 2009 7:55am Dec 15, 2009 7:55am
quick 10 pips with BE now
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FxHome
  • #2,409
  • Dec 15, 2009 8:22am Dec 15, 2009 8:22am
got target and set BE now i m feeling good ,,free trade now hit BE or let it run baby trade .......
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FxHome
  • #2,410
  • Dec 15, 2009 8:30am Dec 15, 2009 8:30am
Quoting forexfortson
Thank you very much! I appreciate the feedback, bro. Just to recap a couple of points:

1. Use 21 ema primarily for what?

2. Trade this method through the NY/London and London/Tokyo sessions.

Otherwise I gotcha on the other points. That's a big help.

Be easy, bruh.
use the 21 ema to define the trend vs. the 50 SMA, also use 21 to trade pullbacks once the trend is defined.
  • #2,411
  • Dec 15, 2009 9:25am Dec 15, 2009 9:25am
waOoo i m lucky today 40 pips still i m holding guyzzz
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FxHome
  • #2,412
  • Dec 15, 2009 9:37am Dec 15, 2009 9:37am
UJ setup on M15, and related JPY Pairs anyone? Im short UJ

Possible double top on H1, divergence, pinbar, and R2 ....////
  • #2,413
  • Dec 15, 2009 10:08am Dec 15, 2009 10:08am
Quoting dbeach777
UJ setup on M15, and related JPY Pairs anyone? Im short UJ

Possible double top on H1, divergence, pinbar, and R2 ....////
I took two b/e on these u/j trades. Just not seeing it. Great location on the second one especially, but I don't like to hold these too long if they aren't moving.

Might move now...

Josh
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  • #2,414
  • Dec 15, 2009 10:14am Dec 15, 2009 10:14am
I'm still in UJ, with my first position, about BE atm. I tend to average in and out, so shorted another at a higher price and closed at +6 pips. I prefer to see follow through as well, but often it just takes time to make a reversal. I do tend to get impatient if after half a dozen candles price still hasn't moved, then often I bail as well


Quoting Jduester
I took two b/e on these u/j trades. Just not seeing it. Great location on the second one especially, but I don't like to hold these too long if they aren't moving.

Might move now...

Josh
  • #2,415
  • Dec 15, 2009 10:30am Dec 15, 2009 10:30am
Quoting Jduester
I took two b/e on these u/j trades. Just not seeing it. Great location on the second one especially, but I don't like to hold these too long if they aren't moving.

Might move now...

Josh
was in on the 2nd as well, just seemed to die. B/E.
  • #2,416
  • Dec 15, 2009 11:32am Dec 15, 2009 11:32am
i did post it a few weeks ago..

1) in ct it's good Tp
2) in trend trades, when pinbar is trough ema21 it's nice setup.

Quoting forexfortson

1. Use 21 ema primarily for what?

Be easy, bruh.
  • #2,417
  • Dec 16, 2009 3:03am Dec 16, 2009 3:03am
Just missed this one.
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  • #2,418
  • Dec 16, 2009 3:19am Dec 16, 2009 3:19am
Quoting Jduester
Just missed this one.
Hit universal PT level at EMA 21 and bounce back.

The market really follow the rules
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  • #2,419
  • Edited 11:20am Dec 16, 2009 11:01am | Edited 11:20am
Quoting Jduester
Just missed this one.

Hey Jduester, would you say this one was riding the BB rails? I've been burned a couple of times with them and I remember you posting about it a few days back. To me it looks like it could be riding the rails, would you mind clarifying why this would be a good setup? Thanks!
  • #2,420
  • Dec 16, 2009 11:12am Dec 16, 2009 11:12am
Just missed this one too
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