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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #2,641
  • Edited 1:26pm Jan 12, 2010 1:16pm | Edited 1:26pm
I have a CT on USDCAD open currently, and I'm glad for your suggestions.
PB was @ outer BB, also Div, and bouncing of 1.0400 area.

My problem is, the price is currently jumping @ 1.0400, what would you do? Exit?
Also, the price is already @ MiddleBB..

Jankone, would your SL/TP also be similar? I saw you have a smaller SL sometimes?



Regards, Lowen

PS: sorry for stoch, RSI is the black line..
PPS: Also, I have to say I don't like that Div that much. The price itself shows no significant peak in the uptrend there, and I think I have learnt that that would help in the relevance of the Div (?).

Attached Image (click to enlarge)
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EDIT: Ok, now closed with RR 1:1. Why do I have a feeling it will go down a lot more? Well I try not to be greedy now. Evertime I try to be, the price turns around and hits me out
  • #2,642
  • Edited 1:35pm Jan 12, 2010 1:20pm | Edited 1:35pm
Im staying the course, based also on the H1 setup

update; closed half at 1.0383 set SL to BE with TP on balance set to 1.0355

Quoting Lowen
I have a CT on USDCAD open currently, and I'm glad for your suggestions.
PB was @ outer BB, also Div, and bouncing of 1.0400 area.

My problem is, the price is currently jumping @ 1.0400, what would you do? Exit?

Jankone, would your SL/TP also be similar? I saw you have a smaller SL sometimes?



Regards, Lowen

PS: sorry for stoch, RSI is the black line..
PPS: Also, I have to say I don't like that Div that much. The price itself shows no significant peak in the uptrend there, and I think I have learnt that that would help in the relevance...
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  • #2,643
  • Jan 12, 2010 1:22pm Jan 12, 2010 1:22pm
Usually my entry is when the pinbar is closed.
sl is usually under the low or over the high of the pinbar..or fix - let's say 1%

tp in ct is good ema 21 or fix 1:1, 2:1 or your own style, what you test , round numbers...s/r..


tp in trend trades is good previous lows, round numbers..s/r areas..

there are really many ways,
you should test what works for you..


Quoting coolshades
jankone,

what kind of sls, tps etc do you set?

do you enter on the current bar/frame once divergence is in place?
  • #2,644
  • Jan 12, 2010 1:34pm Jan 12, 2010 1:34pm
Quoting dbeach777
Im staying the course, based also on the H1 setup
yeah you're right. lots of resistance in that 1.04 area..
  • #2,645
  • Jan 12, 2010 3:45pm Jan 12, 2010 3:45pm
i am sure this is a stupid question, but what settings wld you use for rsi for this system?
  • #2,646
  • Jan 12, 2010 3:50pm Jan 12, 2010 3:50pm
Well yes... a look at the first page would've given you that answer, but anyways, most here use rsi 6 including Jankone, the starter of this thread.

Good Luck!


Quoting coolshades
i am sure this is a stupid question, but what settings wld you use for rsi for this system?
  • #2,647
  • Jan 12, 2010 3:54pm Jan 12, 2010 3:54pm
ok, thks.

am i reading the current gbpusd daily charts right with a hidden divergence pointing to a sell? am not able to upload a chart on it.

Quoting dbeach777
Well yes... a look at the first page would've given you that answer, but anyways, most here use rsi 6 including Jankone, the starter of this thread.

Good Luck!
  • #2,648
  • Jan 12, 2010 5:27pm Jan 12, 2010 5:27pm
Quoting coolshades
ok, thks.

am i reading the current gbpusd daily charts right with a hidden divergence pointing to a sell? am not able to upload a chart on it.
Hi coolshades.
I see no divergence. But I look on close of the price, not on the high. Not sure what is better, tho. Please look at my edited post here related to that Divergence Issue: http://www.forexfactory.com/showpost...postcount=2640

Anyhow, Do u see a PB??

Lowen

Attached Image
  • #2,649
  • Jan 12, 2010 7:30pm Jan 12, 2010 7:30pm
This one called out to me. Very strong setup with trend and PA forming off SR. Took a bit over 1R...conservative due to time of day.
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All that matters is winning the week
  • #2,650
  • Jan 12, 2010 11:34pm Jan 12, 2010 11:34pm
morning everybody!

Missed this trade
here is a chart of GBP USD. See the below setup! it is so unique.
If you follow this particular setup, rising equity curve is almost a guarantee!


CT trade

Nice Pin
Off lower bollingerband
Overall higher trend retracement

Double Divergence ( this is very unique )
Bigger divergence which is nice and normal
Smaller divergence comprising not more than 10 bars- this makes it so powerful

Pattern - Double bottom


Cheers
Winston
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Trading is a delicate balance of Strategy , Money management and Psychology
  • #2,651
  • Jan 13, 2010 1:21am Jan 13, 2010 1:21am
EUR USD

Nice Pin and div
Trend retracement

I know the Pin is huge! but if i risk % rather than pips, it hardly matters!

Update : out at 1R because of higher time frame PPZ support + Asian session.....!
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Trading is a delicate balance of Strategy , Money management and Psychology
  • #2,652
  • Jan 13, 2010 1:32am Jan 13, 2010 1:32am
was in that with you Winston but out at BE as I played it particularly tight given entry was on the wrong side of 1.4500..Had TP at 21 ema but it retested entry before reaching it.
All that matters is winning the week
  • #2,653
  • Jan 13, 2010 1:49am Jan 13, 2010 1:49am
Quoting oneuniverse
EUR USD
...
same trade, but at a slightly lower price [1.4501]. (may post a chart later)
[huge pin + div + round number + potential BB false break/BB head fake to the upside]

as the H1 & H4 bars are (currently) looking bearish, i am letting this trade run for awhile. price may revisit mid- to lower 1.44's or lower.
Let's see.
  • #2,654
  • Jan 13, 2010 2:00am Jan 13, 2010 2:00am
CT trade for 1R win at 21 ema

Do others notice that when you get an inside bar [closing in the right direction] next to a pin that the breakout seems better than average?
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All that matters is winning the week
  • #2,655
  • Jan 13, 2010 2:11am Jan 13, 2010 2:11am
Quoting supremeChaos
[huge pin + div + round number + potential BB false break/BB head fake to the upside]

.
this is the best thing bro!
Trading is a delicate balance of Strategy , Money management and Psychology
  • #2,656
  • Jan 13, 2010 2:22am Jan 13, 2010 2:22am
Quoting lindsayf
CT trade for 1R win at 21 ema

Do others notice that when you get an inside bar [closing in the right direction] next to a pin that the breakout seems better than average?
I agree with this Lindsay, most of the runner i had began with the inside bar after the pin bar formation.
Probable reason is if we drop to 5 or more time frames lower, we could see triangle breakout! thus the trade becomes MTF and period of high volatility follows period of low volatility.
Trading is a delicate balance of Strategy , Money management and Psychology
  • #2,657
  • Jan 13, 2010 3:36am Jan 13, 2010 3:36am
Quoting supremeChaos
same trade, but at a slightly lower price ....
Hmmm... BB head fake turned out to be right.
but H1/H4 support (1.4450/60) was maintained so far...
looks like the Big Boys just want to buy at discount prices (1.4450/60) for now... & perhaps bring price past above/range until 1.4550ish (January's/this year's high)?? let's see.
  • #2,658
  • Edited 6:59am Jan 13, 2010 3:49am | Edited 6:59am
EURGBPM15

Update : Exit near PPZ on M15
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Trading is a delicate balance of Strategy , Money management and Psychology
  • #2,659
  • Jan 13, 2010 5:01am Jan 13, 2010 5:01am
the anatomy of a trade...looks like a good prospect. Is your plan to take profit at the SR zone you have marked on the M15 chart?

Nice work again.
All that matters is winning the week
  • #2,660
  • Jan 13, 2010 5:08am Jan 13, 2010 5:08am
Hi Lindsay,

yes! there's where price will react voilently after reacting at 21EMA

Regards
Winston
Trading is a delicate balance of Strategy , Money management and Psychology
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