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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #2,621
  • Jan 10, 2010 9:32pm Jan 10, 2010 9:32pm
I'm waiting for this baby to pop and give us something worth trading. The divergence is building and so is the downwards pressure from previous bar lows (on higher timeframes).
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I dream, therefore I become.
  • #2,622
  • Jan 11, 2010 4:44am Jan 11, 2010 4:44am
Hopefully someone here took this one..I missed it.
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All that matters is winning the week
  • #2,623
  • Jan 11, 2010 5:01am Jan 11, 2010 5:01am
This chart shows hidden DIV on a CT trade. Do you consider taking them?

OR...

Is this actually now a with trend trade that went to far through the midBB to trade it? It didn't form a new swing low and did form a new recent swing high... so maybe we must call it the start of a new trend (direction up)...

Just curious if you guys think about this stuff when trading...

(Note, I'm not talking about the PA trigger... let's assume it's a 'valid' pin for discussion sake).
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  • #2,624
  • Jan 11, 2010 5:19am Jan 11, 2010 5:19am
Hi Josh
The location and structure here creates hesitation for me to..I think of it in terms of risk factors..close under the mid BB for a long trend trade is one risk factor..trading into the weeklu open level you have marked would be another...I may or may not take a trade like this . In this case probably not as it is a choppy kind of day...but volume and what the higher timeframes look like might also sway me one way or the other.



Lindsay
All that matters is winning the week
  • #2,625
  • Jan 11, 2010 6:25am Jan 11, 2010 6:25am
Quoting lindsayf
Hi Josh
The location and structure here creates hesitation for me to..I think of it in terms of risk factors..close under the mid BB for a long trend trade is one risk factor..trading into the weeklu open level you have marked would be another...I may or may not take a trade like this . In this case probably not as it is a choppy kind of day...but volume and what the higher timeframes look like might also sway me one way or the other.



Lindsay
I agree, not one I would take. However, that's not what I'm asking for discussion on...

There are two types of trades discussed in this thread.
- With trend on pullback to midBB
- CT with DIV

But this case, we have DIV... would you consider this a CT, and so make the trade legit? Or would the trend be up, and since the pullback was below the midBB, we rule out this bar.

Is this clearer?

I guess the underlying question is - for CT trades, do you guys usually accept hidden divergence or does it have to be regular divergence (meaning coming off a new relative low in price...)
  • #2,626
  • Jan 11, 2010 6:42am Jan 11, 2010 6:42am
Oh ok..well I dont see that that is a CT setup though I can see how it could be argued. I wouldnt consider it in that way. I see it as a risky/questionable with trend trade based on the already changed trend..HHs and HLs, slope of 21ema etc. The distinction is perhaps academic..as you are trading in the same direction in each case regardless of your naming of the trade. Hope I am on the right track this time.

Lindsay
All that matters is winning the week
  • #2,627
  • Jan 11, 2010 7:46am Jan 11, 2010 7:46am
a chart is worth thousand words!

would not consider it for runner because of higher time frame PPZ resistance.

Cheers
Winston
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Trading is a delicate balance of Strategy , Money management and Psychology
  • #2,628
  • Jan 11, 2010 7:49am Jan 11, 2010 7:49am
Excellent thread Jankone, thanks. Im sure this would work on slightly higher timeframes like the 1 hour?
Economists have forecast 9 out of the last 5 recessions
  • #2,629
  • Jan 11, 2010 8:42am Jan 11, 2010 8:42am
Quoting Jduester
I agree, not one I would take....
that's an interesting question, checking out my previous trades I haven't taken a hidden divergence CT, just traditional divergence. But with trend, I use hidden quite frequently. Definitely wouldn't rule it a with trend trade, too choppy, and would be tough to get 1:1, those previous bar lows are just 4 pips away. I'll try and keep a close eye on CT hidden divergence trades and see what to make of them.
  • #2,630
  • Jan 11, 2010 9:40am Jan 11, 2010 9:40am
i wonder how much this would've been worth....
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  • #2,631
  • Jan 11, 2010 12:21pm Jan 11, 2010 12:21pm
It works everywhere you trade, every market, every time frame, but everywhere - where you train this method and everywhere you know, what you are gonna do )
Quoting markmm
Excellent thread Jankone, thanks. Im sure this would work on slightly higher timeframes like the 1 hour?
  • #2,632
  • Jan 11, 2010 12:47pm Jan 11, 2010 12:47pm
eur usd today..
2 great trades. same setups pinbar with div.
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  • #2,633
  • Jan 11, 2010 12:47pm Jan 11, 2010 12:47pm
Hey Jankone,
I love the thread. I've been trading very similiar to this for awhile and just discovered this thread recently. I mainly trade this with stocks on the 3 minute and up TFs. Hope you dont mind me posting stock charts in the future.

This was a great looking bar on FDX today. High volume and great divergence. I couldn't trade it because the stop size was too big for me but it gave quick profit so I thought I'd post it.
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  • #2,634
  • Jan 11, 2010 1:04pm Jan 11, 2010 1:04pm
Nice, I got the 2nd CT trade too for 3R. I liked the round number (4500) confluence

It was my first trade of the year. I have been kind of busy with other projects, that's why.

Quoting Jankone
eur usd today..
2 great trades. same setups pinbar with div.
  • #2,635
  • Jan 11, 2010 1:05pm Jan 11, 2010 1:05pm
Hey,
you can post charts, it's about price action and it could be really educational to see more markets.

(one notice - respect VERY huge pinbars, they expose with some economic news, it was 1st thing what I think about when look at your chart)

Quoting ShawnS
Hey Jankone,
I love the thread. I've been trading very similiar to this for awhile and just discovered this thread recently. I mainly trade this with stocks on the 3 minute and up TFs. Hope you dont mind me posting stock charts in the future.

This was a great looking bar on FDX today. High volume and great divergence. I couldn't trade it because the stop size was too big for me but it gave quick profit so I thought I'd post it.
  • #2,636
  • Jan 11, 2010 1:19pm Jan 11, 2010 1:19pm
Quoting Jankone
Hey,
you can post charts, it's about price action and it could be really educational to see more markets.

(one notice - respect VERY huge pinbars, they expose with some economic news, it was 1st thing what I think about when look at your chart)
Yea, I try not to overcomplicate things by worrying about news and stuff though. I just like trading what I see. Even with news, a bar that size will usually work out well. Anyway thanks for the feedback.
  • #2,637
  • Jan 12, 2010 8:38am Jan 12, 2010 8:38am
another nice move in crude, need to find a platform to trade it.
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  • #2,638
  • Jan 12, 2010 9:26am Jan 12, 2010 9:26am
3:1
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  • #2,639
  • Jan 12, 2010 10:02am Jan 12, 2010 10:02am
jankone,

what kind of sls, tps etc do you set?

do you enter on the current bar/frame once divergence is in place?

Quoting Jankone
It works everywhere you trade, every market, every time frame, but everywhere - where you train this method and everywhere you know, what you are gonna do )
  • #2,640
  • Edited 5:24pm Jan 12, 2010 11:09am | Edited 5:24pm
Quoting Icehocey77
3:1
Dear Ice,
nice PB's.

Thou', please all be careful. This may be NO divergence:
RSI normally is based on Price close, so you shouldn't connect the prices Highs/Lows, but the CLOSES.

EDIT: well I looked over many charts now on FF and internet, and I cannot find THE ONE explanation that what I say here is more correct than your way of seeing it. Sorry if I confused anybody. How do you think about this?

Regards, Lowen

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