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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #2,761
  • Jan 28, 2010 3:39am Jan 28, 2010 3:39am
first of all.. thanks for this great thread jankone and all you contributors!

just to confirm? my comprehension of this method; is the following what we are looking for?!
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  • #2,762
  • Jan 28, 2010 4:11am Jan 28, 2010 4:11am
Hi xeqter

Thats kind of it..but..for a counter trend trade we are looking for pin bars that are big in comparison to the previous few bars and also the divergence across the last few bars is marginal.

I would say it is not a strong setup

Check out the first post..jankone gives some great examples
All that matters is winning the week
  • #2,763
  • Jan 28, 2010 5:13am Jan 28, 2010 5:13am
Quoting xeqter
first of all.. thanks for this great thread jankone and all you contributors!

just to confirm? my comprehension of this method; is the following what we are looking for?!
And...you are in a STRONG trend. Your first GREEN up arrow would have got you into the prevailing trend (why fight it) and you would still be in.
every Saint has a past. Every Sinner has a Future
  • #2,764
  • Jan 28, 2010 7:52am Jan 28, 2010 7:52am
A bit of news to help a trade take off is always nice :-)
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  • #2,765
  • Jan 28, 2010 8:21pm Jan 28, 2010 8:21pm
How can I go to bed when there is easy money to be made...
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  • #2,766
  • Jan 28, 2010 11:14pm Jan 28, 2010 11:14pm
Quoting lovejoy80
How can I go to bed when there is easy money..
awesome...
nice PB + nice RSI div + minor pullbacks + resistance (horizontal line) breakout

bet you're dreaming of that trade now.
  • #2,767
  • Jan 29, 2010 3:58am Jan 29, 2010 3:58am
Quoting supremeChaos
awesome...
nice PB + nice RSI div + minor pullbacks + resistance (horizontal line) breakout

bet you're dreaming of that trade now.
Thanks. Ha, yes, it was pretty sweet...two good trades yesterday on this method. It's all about patience when day trading IMO, waiting and waiting for the A+ trades and ovecoming the urge to trade whenever we see a pin (+ divergence if CT) . I just have my seperate laptop set up with EU, GU, EJ, UJ on them and have all PPZ areas marked. When a pin forms of a PPZ (with divergence if CT) then that puts the probabilities hoigh enough in my favour to take a trade. The A+ trades should be so obvious and stand out so easiliy they are worth waiting for.

Need to practice on trying to let them run though and not cutting too early. Could have taken the second EU pin that formed after my entry and let that one run ona bit.

There was a couple of other nice 5min pins on EU this morning too (I was asleep though).
  • #2,768
  • Jan 29, 2010 12:18pm Jan 29, 2010 12:18pm
hi all

here are two more tradable(?) setups..

i would really appreciate your opinions of those setups; if you would have taken them or not?

thanks in advance
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  • #2,769
  • Jan 29, 2010 5:27pm Jan 29, 2010 5:27pm
xeqter

I wouldnt be interested in the first one as the PA is too choppy and the pin too small in relation to previous bars..but the trend pin (second one - long) would have interested me because it is a good size and is well located crossing the 21 with a good strong close. The trend is not established at that stage but there are HH's and the pin makes a HL.

Quiet week for the purists of this thread..although Lovejoy nailed a couple..good work!
All that matters is winning the week
  • #2,770
  • Feb 1, 2010 1:37am Feb 1, 2010 1:37am
On Jappy for +2R

Missed the euro CT setup due to internet drop out for 10 minutes. Who is in?
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All that matters is winning the week
  • #2,771
  • Feb 1, 2010 9:45am Feb 1, 2010 9:45am
Hi all

I have a bit more time on my hands now to watch the lower timeframes.

I would be interested to hear anyone's opinion of the EUR/JPY pin from this morning.

Pros:
Pin with RSI Div off top BB.

Cons:
The close could be stronger (lower)
Prior sideways movement ('traffic')

Would the more experienced traders here have taken this or passed?

Any comments much appreciated.
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  • #2,772
  • Feb 1, 2010 9:50am Feb 1, 2010 9:50am
Quoting Headless
Hi all

I have a bit more time on my hands now to watch the lower timeframes.

I would be interested to hear anyone's opinion of the EUR/JPY pin from this morning.

Pros:
Pin with RSI Div off top BB.

Cons:
The close could be stronger (lower)
Prior sideways movement ('traffic')

Would the more experienced traders here have taken this or passed?

Any comments much appreciated.
passed, but it went right where we expected it to. hit the 21 EMA and reversed in the other direction.
  • #2,773
  • Feb 1, 2010 9:51am Feb 1, 2010 9:51am
Quoting Headless
Hi all

I have a bit more time on my hands now to watch the lower timeframes.

I would be interested to hear anyone's opinion of the EUR/JPY pin from this morning.

Pros:
Pin with RSI Div off top BB.

Cons:
The close could be stronger (lower)
Prior sideways movement ('traffic')

Would the more experienced traders here have taken this or passed?

Any comments much appreciated.
Hi,

The range of Pin was small compared with prio bars

Very little Tail was protruding out of the prio bar's high

If you see H1, the price at that time was not near High Impact Resistance, rather it was approaching towards resistance

This is not hindsight! but i have been able to avoid such many CT trades because of above criteria which is backed with logic!
Trading is a delicate balance of Strategy , Money management and Psychology
  • #2,774
  • Feb 1, 2010 10:50am Feb 1, 2010 10:50am
EURUSD, M15, 2010 February 01

Trade Example:
mR1 = 1.3923
Enter short at PinBar and Exit one or four bars later.
~40 Pips (1.3930 - 1.3896).

Kindest regards
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  • #2,775
  • Feb 1, 2010 11:16am Feb 1, 2010 11:16am
EURJPY, M15, 2010 January 01

Enter Short with a Stop Loss could be a good probability, if EURJPY won't break the resistance line around 126.65

May be it's a Diverence at RSI.
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  • #2,776
  • Feb 1, 2010 12:11pm Feb 1, 2010 12:11pm
Quoting oneuniverse
Hi,

The range of Pin was small compared with prio bars

Very little Tail was protruding out of the prio bar's high

If you see H1, the price at that time was not near High Impact Resistance, rather it was approaching towards resistance

This is not hindsight! but i have been able to avoid such many CT trades because of above criteria which is backed with logic!
AND you are fighting the trend
every Saint has a past. Every Sinner has a Future
  • #2,777
  • Feb 1, 2010 1:12pm Feb 1, 2010 1:12pm
Quoting oneuniverse
Hi,


If you see H1, the price at that time was not near High Impact Resistance, rather it was approaching towards resistance

Thanks for the feedback guys...

Do you only take counter-trend trades off previous S/R levels (J16 style) or is a Pin with Div good enough for you? Obviously taking trades off previous S/R will improve your chances but this is not something that Jankone or Ryan stress.
  • #2,778
  • Feb 1, 2010 1:44pm Feb 1, 2010 1:44pm
Quoting Headless
Thanks for the feedback guys...

Do you only take counter-trend trades off previous S/R levels (J16 style) or is a Pin with Div good enough for you? Obviously taking trades off previous S/R will improve your chances but this is not something that Jankone or Ryan stress.

you develop your own style after awhile. Some people like S/R areas, some round numbers, and others just use the BB's. All of it works, just a matter of what you are comfortable with.
  • #2,779
  • Feb 1, 2010 1:47pm Feb 1, 2010 1:47pm
here's something you don't see everyday, triple bar low to the exact pip.
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  • #2,780
  • Feb 1, 2010 3:38pm Feb 1, 2010 3:38pm
Hello,
a pinbar is "hidden"
be aware
100% pass for me.

Quoting Headless
Hi all

I have a bit more time on my hands now to watch the lower timeframes.

I would be interested to hear anyone's opinion of the EUR/JPY pin from this morning.

Pros:
Pin with RSI Div off top BB.

Cons:
The close could be stronger (lower)
Prior sideways movement ('traffic')

Would the more experienced traders here have taken this or passed?

Any comments much appreciated.
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