Jankone M5 thread

post up the chart...
timezones etc makes a mess.

It's with the trend it's safer usually.
you can trade this but if YOU TEST IT if it is working.
Personally i prefer pins like this with nose more intervening ema21...

But why not...

Mind sharing your lower-timeframe/higher-timeframe performance here?
It is an anonymous poll.

http://www.forexfactory.com/showthread.php?t=219005

Sorry for those not interested.

nice pin with trend.. small div. on rsi.. off of the 21ema... tap at .50 rn.. what do you think about it?

Helllo Jankon
Hello traders

EURJPY, M5

Look at this arrow, please.

What do you think?

Kindest regards

Forexcube

GBPJPY, M15

today sp 500

If you mean GJ M15 chart you posted, it was a good trade off pinbar + divergence. There was something else there too - the price failed to reach prior Lows.

One of the things I've been trying to do is getting in to more with trend trades, part one of what I've been looking at is pinbar trades touching the BB and 21 EMA v. breaking through and if there is any difference between hitting the BB and the 21 EMA. Here's my collection of charts:

in between BB and 21

http://i411.photobucket.com/albums/p...e011110m5b.gif

outside bar around 1800 worked nicely hit BB and took off, also weak pin at the end pierces 21 EMA with a nice pullback and divg, where will it go?

http://i411.photobucket.com/albums/p...u020410m5a.gif

http://i411.photobucket.com/albums/p...u020410m5b.gif

have trend confirmation that doesn't give us a PA signal then gives us one with a direct hit of the 21 EMA

http://i411.photobucket.com/albums/p...eu10410m15.gif

double hit of the BB and doesn't go further...this one took off for 5% right off the bat

http://i411.photobucket.com/albums/p...eu10610m5b.gif

BB and 21 EMA are overlapping here

http://i411.photobucket.com/albums/p.../eu12309m5.gif

another overlap, but take note of the 1400 pinbar that breaks the 21 ema

http://i411.photobucket.com/albums/p.../eu12809m5.gif

not the best pinbar, bands were going sideways but was a piercer, one before hit the 21 and reversed.

http://i411.photobucket.com/albums/p...1809m5loss.gif

21 EMA

http://i411.photobucket.com/albums/p...gj020110m5.gif

both and round number and divg and rsi 50 rejection (that was the big runner from last week)

http://i411.photobucket.com/albums/p...gj020410m5.gif

21 EMA

http://i411.photobucket.com/albums/p...gu021110m5.gif

sideways day, but previous pin showed downward trend. pierces 21

http://i411.photobucket.com/albums/p...609m5loser.gif



So what to conclude? I haven't fully rejected the notion of pullbacks breaking the 21 EMA and forming a pin being a no trade, but it does give me extra confidence to pull the trigger if we get a pullback that hits the mid BB or 21 EMA exactly and forms PA.

Took BE on this after 5 bars

too slow for me

I took the same trade and closed for a couple of pips loss as I didn't like the way price stalled.

I suppose after a big drop there was some profit taking going on.

yes I agree...the setup has a good structure but the location and pin size and volume didnt really make a big statement...so well done to get out without damage I say

another example from friday: first nailed the 21 EMA, second nailed the round number after piercing the 21. Next thing I'm following is outside bars and trading pullbacks with big trends and no PA.

Would experienced traders have ruled this Pin out? Or is it a legitimate trade?

Greetings!

a quick glance at your chart yields these observations:
1. the pin is SMALL. (see jankone's charts/trades. he trades BIG pins)
2. bullish bars prior the pin are bigger in relation.
3. what is the trend (zoom out the chart &/or check higher timeframes). if the 2 MA's are the 21ema & 50sma, price has been above these two, so shorting off the pin is a CounterTrend trade. for beginners, it's advisable to trade trends first before venturing into CT trades.
4. an indicator divergence (such as that in the RSI) is NOT ENOUGH to be a trade trigger. there are other factors to be considered (S/R, PA/pin size etc).

Hope this helps

Thanks supremeChaos. That's exactly the info I needed. I've seen those jankone charts, but the big pins hadn't sunk in yet. Still learning so help much appreciated.

Gu today m15 another great pinbar + div example.

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