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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #2,901
  • Mar 1, 2010 7:42pm Mar 1, 2010 7:42pm
Quoting Forex007
Thank you! Yours was not bad either...
There was smth else about that 1st PB: it was immediately followed by a... counter-PB....
mike mentioned this as a retracement, others call it a 'test' (test of the PB); others still, say this is 'the train coming back for grandpa/grandma'

Quoting Forex007
PB 1 (1st vertical line)....
I took PB4 (3rd vertical line) - no RSI dib, but price overshot BB way too much. I exited at the level of prior High (PB2) and prior Lows (see the left side of the chart). Price stalled (as expected) after my exit, and then continued..
the fact that price stalled many times above (& never touched) the mid-BB, is reason enough to stay in the trade & see what happens
Nice trades!
btw, thanks for the book link Sir
  • #2,902
  • Mar 1, 2010 7:47pm Mar 1, 2010 7:47pm
Quoting Jankone

his charts at j16 and comments are so great.
i wish i can understand what exactly and why he trade on m5
he said something about 10 trades a day...i don't understand really...
with this, there are no signals...

i think language is the issue here.
but dont worry language is a minor barrier/problem...
i sometimes dont understand posts here in FF, so i try to understand more by looking at the charts.

i think the 10 trades a day Ryan takes... some/many are add-on trades (read Forex007's post above, to understand further). with his experience, he knows when to add to his long/short trade positions.
  • #2,903
  • Mar 1, 2010 7:54pm Mar 1, 2010 7:54pm
Quoting Forex007
He doesn't trade just Pinbars: once a STRONG trade is on, he buys every dip and sells every rally (depending on the trend).

Read this book (http://www.amazon.com/Reading-Price-...7485654&sr=8-1) - the author's style takes time to get used to, but once you are on his "frequency", you'll find out exactly what Ryan is talking about. That book is a GREAT hidden gem (hm, and maybe it should stay that way...).
I have a link to download this at no cost. Drop me a Pm and I'll send you the link.
  • #2,904
  • Mar 1, 2010 10:36pm Mar 1, 2010 10:36pm
Quoting Jankone

his charts at j16 and comments are so great.
i wish i can understand what exactly and why he trade on m5
he said something about 10 trades a day...i don't understand really...
with this, there are no signals

it looks like he's trading chaos by bill williams. Alligator, fractals, etc.
  • #2,905
  • Mar 1, 2010 10:40pm Mar 1, 2010 10:40pm
Here's the simulator Serg1.
Attached File(s)
File Type: zip Trading simulator(2).zip   491 KB | 443 downloads
  • #2,906
  • Mar 2, 2010 2:20am Mar 2, 2010 2:20am
Quoting supremeChaos
mike mentioned this as a retracement, others call it a 'test' (test of the PB); others still, say this is 'the train coming back for grandpa/grandma'


the fact that price stalled many times above (& never touched) the mid-BB, is reason enough to stay in the trade & see what happens
Nice trades!
btw, thanks for the book link Sir
Thanks for the "grandpa" reminder, I missed that Mike's post.

As for mid-BB: I prefer (expect, in fact) price to move hard and fast after a Pinbar (or any other setups I trade). "Wait and see": I can do that with my position closed - with trending, I tend not to satisfy my "curiosity" at own expense...
One Chart is Worth Ten Thousand Words.
  • #2,907
  • Mar 2, 2010 2:24am Mar 2, 2010 2:24am
Quoting tubguy
I have a link to download this at no cost. Drop me a Pm and I'll send you the link.
SupremeChaos, there you go, a good chance to read that book - I don't think Amazon delivers to your part of the world yet (but I could be wrong). Enjoy!
One Chart is Worth Ten Thousand Words.
  • #2,908
  • Mar 2, 2010 6:04am Mar 2, 2010 6:04am
Forex007, tubguy
thanks Sirs


Quote
...As for mid-BB: I prefer (expect, in fact) price to move hard and fast after a Pinbar (or any other setups I trade). "Wait and see": I can do that with my position closed - with trending, I tend not to satisfy my "curiosity" at own expense...
i was referring to PB4. the fourth to sixth bar (after the pin) failed to even touch the mid BB; i just looked closely, the 5th bar was even a very small crappy PB.

just clarifying, in case u thought i referred to PB1 - PB3.
anyway, i understand your point (risk profile).
  • #2,909
  • Edited 9:43am Mar 2, 2010 6:14am | Edited 9:43am
Missed this one, but the setup was good: price poked through the prior Lows (touching strong TL) and retreated, forming nice PB.

TP is 1.3600 - it's been a "pivot" level for EU for quite some time.

P.S. It's H1, but the principles are the same. I don't have BB and RSI on that chart, but with good setups you can have pretty good idea what BB/RSI will say anyway.

---

When price stopped 2 pips shy of 1.3600, that should be telling us something (there was a nice entry point Short on M5 there)...
Attached Image (click to enlarge)
Click to Enlarge Name: EU_H1.png Size: 53 KB
One Chart is Worth Ten Thousand Words.
  • #2,910
  • Mar 2, 2010 9:49am Mar 2, 2010 9:49am
EURUSD, M15, 1020 February 02

Is this a little probability or a greater for an Enter Long Order?

Critical comments are expected.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD, M15, 2010 March 02.jpg Size: 142 KB
  • #2,911
  • Mar 2, 2010 10:11am Mar 2, 2010 10:11am
Quoting Forexcube
EURUSD, M15, 1020 February 02

Is this a little probability or a greater for an Enter Long Order?

Critical comments are expected.
What's the question? Nice PB, overshoot BB, off prior low (see my prev. H1 post). There was no RSI divergence, but it doesn't always happen.

I.e. you never know 100% which PB would play out; that one was a good logical entry.
One Chart is Worth Ten Thousand Words.
  • #2,912
  • Mar 2, 2010 10:32am Mar 2, 2010 10:32am
EURUSD, H1, 2010 March 02

Is this an excellent chance for an Entry Enter Long and even a better chance than the chart EURUSD M15, 2010 March 02 before?

Kindest regards

FX Cube
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD, H1, 2010 March 02.jpg Size: 155 KB
  • #2,913
  • Mar 2, 2010 10:48am Mar 2, 2010 10:48am
Quoting Forexcube
EURUSD, H1, 2010 March 02

Is this an excellent chance for an Entry Enter Long and even a better chance than the chart EURUSD M15, 2010 March 02 before?

Kindest regards

FX Cube
You obviously missed this post

http://www.forexfactory.com/showpost...postcount=2909
One Chart is Worth Ten Thousand Words.
  • #2,914
  • Mar 2, 2010 11:34am Mar 2, 2010 11:34am
It was wonderful pinbar

Quoting Forex007
You obviously missed this post

http://www.forexfactory.com/showpost...postcount=2909
  • #2,915
  • Mar 2, 2010 11:47am Mar 2, 2010 11:47am
Nice trend setup. trend is clearly down and pinbar going with the trend.

(actually I was short in m5 at the top of the h4 pinbar, get burned by 8 pips and then i see what a great pin there was higher tf)

sr 121.5
Attached Image (click to enlarge)
Click to Enlarge Name: ej h4 2.3..gif Size: 32 KB
  • #2,916
  • Mar 2, 2010 11:51am Mar 2, 2010 11:51am
Quoting Jankone
(actually I was short in m5, get burned and then i see what a great pin there was higher tf)
It happens quite often. I too tend to scan H1/H4, even when trading M5/M15.

Also, if you are in a trade off lower TF and see a good setup on a higher one, that gives you extra reasons to stay in the trade for longer.
One Chart is Worth Ten Thousand Words.
  • #2,917
  • Edited 8:33pm Mar 2, 2010 8:09pm | Edited 8:33pm
Quoting Forexcube
EURUSD, H1, 2010 March 02
Is this an excellent chance for an Entry Enter Long and even a better chance than the chart EURUSD M15...
Hi FX Cube
probably a better trade than the M15 (first chart). only because the zigzag movement of price (on the M15) is done & u get in at a much longer upmove.

by the way, i notice u have CCI, ADX, & RSI (RSI on CCI or is that two CCIs??). generally, they all say the same thing in a slightly different way.
u can try & pick 1 & just remove the rest.
i know u may have formed a 'habit' of using all these, rendering u unable to quickly discard any 2 indicators immediately. if this is the case, what u can do is, for now, just remove 1. then after a while, remove another 1.
just a small suggestion. hope this helps (kindly disregard this if u have been using all these profitably for a long time)


Quoting Forex007
What's the question? Nice PB....
technically speaking , the close is not above the open (for a 'technically correct' bullish pin bar), but i agree it's a nice 'pinbar'

Quoting Forex007
It happens quite often.....
Also, if you are in a trade off lower TF and see a good setup on a higher one, that gives you extra reasons to stay in the trade for longer.
  • #2,918
  • Mar 3, 2010 3:38am Mar 3, 2010 3:38am
Hi guys

Just wanted to say thank you to Jankone for starting this awesome thread

I'm still trying to catch up and am back on post 759. I wondered if anyone still has the document that animal hungry compiled with a compilation of all the screen shots up until that point.

I know it's way back now but thought I'd give it a shot.

Hopefully will catch up soon and can add to the discussion.
Want what the market wants
  • #2,919
  • Mar 3, 2010 10:38am Mar 3, 2010 10:38am
welcome....and thanks


Quoting DangerBoy
Hi guys

Just wanted to say thank you to Jankone for starting this awesome thread

I'm still trying to catch up and am back on post 759. I wondered if anyone still has the document that animal hungry compiled with a compilation of all the screen shots up until that point.

I know it's way back now but thought I'd give it a shot.

Hopefully will catch up soon and can add to the discussion.
  • #2,920
  • Mar 4, 2010 2:07am Mar 4, 2010 2:07am
G'day All
The pinbar indy that Jankone uses seems to be glitchy. I have to reinstall it every now and again to get it to work properly --ie to show all pins. Anybody else having this problem? I like this indy cause of the alert.
Sorry for boring question.
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