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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #3,001
  • Mar 10, 2010 3:45am Mar 10, 2010 3:45am
Hi Jankone,
First post here so congrats on the thread. Working my way through it now.
I'd value your opinion on this Cable trade i just took.
5min PB off 100ema (small though)
With trend
Top of BB
At resistance
DIV.
Short on a break of the PB, out at +23.
Would you consider this a valid setup or did I just get lucky with the news release? I've been going over some of Ryan's charts and price certainly does seem to like the 100ema.

Steve.
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"The more I practice, the luckier I get." (Gary Player)
  • #3,002
  • Mar 10, 2010 3:57am Mar 10, 2010 3:57am
Took short on steep negative divergence but no pinbar.
Got a few pips.
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  • #3,003
  • Mar 10, 2010 4:16am Mar 10, 2010 4:16am
Quoting Shaltay
Took a Short trade with PB following the trend....
quick observations:
1. PB size-wise, it is VERY small.
2. no RSI divergence.
3. BB-wise, price is in the middle of the midBB & lower BB.

overall, this is not a trade u should've taken.
just my view
  • #3,004
  • Mar 10, 2010 4:20am Mar 10, 2010 4:20am
Quoting Hova
well, my 1st loss today
pin + 50 fib at yesterdays low and S1 with trend but diddnt hold
...
quick observations:
1. pin was not in a swing high.
2. pinbar closed above the open
3. no RSI divergence.
4. BB-wise, price is in the middle of the midBB & lower BB.
5. immediate traffic @ 1.4910 - 1.4915 area

overall, this is not a trade u should've taken.
just my view http://cdn.forexfactory.com/images/s.../yim/happy.gif
  • #3,005
  • Mar 10, 2010 4:24am Mar 10, 2010 4:24am
Quoting mrsingha
Hi Jankone....
Would you consider this a valid setup or did I just get lucky with the news release? I've been going over some of Ryan's charts and price certainly does seem to like the 100ema.
....
Hello Steve,
if i may...
personally, i may have considered this one if i did see it real-time.

btw, Sir james16 (mbqb11 etc) 'avoids the news like a plague'
  • #3,006
  • Mar 10, 2010 4:27am Mar 10, 2010 4:27am
EURUSD, M15, 2010 March 10

Profit + 40 pips

further arguments:
CCI 14 & RSI 14 down, too.
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  • #3,007
  • Mar 10, 2010 4:27am Mar 10, 2010 4:27am
Quoting supremeChaos
quick observations:
1. pin was not in a swing high.
2. pinbar closed above the open
3. no RSI divergence.
4. BB-wise, price is in the middle of the midBB & lower BB.
5. immediate traffic @ 1.4910 - 1.4915 area

overall, this is not a trade u should've taken.
just my view http://cdn.forexfactory.com/images/s.../yim/happy.gif
i love quick reviews. thx ! thats the input i need
Never whishing, always trading.
  • #3,008
  • Mar 10, 2010 4:27am Mar 10, 2010 4:27am
Quoting AlexC
Took short on steep negative divergence but no pinbar.
Got a few pips.
in this thread, we use a pinbar as a trigger to take a trade.
it's unadvisable to trade without PA setups like pinbar (unless u are deliberately combining 2 or more bars to form a PA setup)

Hope this helps
  • #3,009
  • Mar 10, 2010 4:31am Mar 10, 2010 4:31am
Quoting Hova
i love quick reviews. thx ! thats the input i need
add-on comment:
ideally, try to look for pinbars/PA setups in the upper, lower, mid-BBs (& not in between these 3).
  • #3,010
  • Mar 10, 2010 4:33am Mar 10, 2010 4:33am
Quoting supremeChaos
Hello Steve,
if i may...
personally, i may have considered this one if i did see it real-time.

btw, Sir james16 (mbqb11 etc) 'avoids the news like a plague'
Hi Chaos,
TBH I was so engrossed with my charts I forgot about the iminent Uk news release. As a fellow J16er I don't usually bother with it but when you go down this low you have to be more aware of what's brewing.
But as you well know its been said many times that price will often pre-empt news and provide a setup prior to the release which I fortunately took advantage of on this occasion.


Steve.
"The more I practice, the luckier I get." (Gary Player)
  • #3,011
  • Mar 10, 2010 4:38am Mar 10, 2010 4:38am
Quoting supremeChaos


btw, Sir james16 (mbqb11 etc) 'avoids the news like a plague'
Hey SC
I think you will find that this isnt the case...J16 doenst take any notice of the news but trading daily and higher is a very different kettle of fish. I think you'll also find that Mbqb11 also doesnt follow the news at all closely with the exception of the really big news days. Trading the M5 though my opinion is we need to be aware of any significant news release..and decide what we are going to do before hand if we are in a trade or considering entering.

Hows your trading going lately? This thread has been going through a quiet patch.

L
All that matters is winning the week
  • #3,012
  • Mar 10, 2010 4:45am Mar 10, 2010 4:45am
Quoting supremeChaos
add-on comment:
ideally, try to look for pinbars/PA setups in the upper, lower, mid-BBs (& not in between these 3).
I always need to remember myself about cherry picking, you know ? the cherry Mr. Mbqb11 paints at PinBars in his Videos found in the guest section.

see pic of todays EJ M15 pin attached
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Never whishing, always trading.
  • #3,013
  • Mar 10, 2010 5:36am Mar 10, 2010 5:36am
GBPUSD, M15, 2010 March 10

Not ideal but with this kind of divergence.

Profit: + 45 pips.
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  • #3,014
  • Mar 10, 2010 5:55am Mar 10, 2010 5:55am
nice one
Attached Image
If you think you can or cannot do it you are correct
  • #3,015
  • Mar 10, 2010 5:57am Mar 10, 2010 5:57am
Quoting supremeChaos
quick observations:
1. pin was not in a swing high.
2. pinbar closed above the open
3. no RSI divergence.
4. BB-wise, price is in the middle of the midBB & lower BB.
5. immediate traffic @ 1.4910 - 1.4915 area

overall, this is not a trade u should've taken.
just my view http://cdn.forexfactory.com/images/s.../yim/happy.gif
These bullet point observations are great for re-inforcing lessons.
great stuff
every Saint has a past. Every Sinner has a Future
  • #3,016
  • Mar 10, 2010 5:57am Mar 10, 2010 5:57am
Not ideal but it's my trigger for the day to get in on some $ strength.. TP set incase I gtg out
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  • #3,017
  • Mar 10, 2010 6:10am Mar 10, 2010 6:10am
USDCHF M5

I don't take much risk over today and will take an Enter Long at USDCHF M5 at the same time when EURUSD will reach 1.3670/80 (further argument: see EURUSD, H4, Bollinger Bands there) - or now an Enter Long and then one again.

FX Cube
  • #3,018
  • Mar 10, 2010 6:11am Mar 10, 2010 6:11am
IMHO, as I can see through the trades posted in the thread, in many cases the trades are based on "hammers" and "falling stars" (if I'm not mistaken with this name, sorry if I am) which are certainly the reversal models and have the tails twice larger then the bodies. And only when these models are really perfect they become Pin Bars.

Shouldn't we distinguish more clearly these candles for education purposes? For example, if it is a "hammer" - call it H, or call a "falling star" - FS, and don't call them "imperfect PB"?
  • #3,019
  • Mar 10, 2010 6:13am Mar 10, 2010 6:13am
Quoting Forexcube
USDCHF M5

I don't take much risk over today and will take an Enter Long at USDCHF M5 at the same time when EURUSD will reach 1.3670/80 (further argument: see EURUSD, H4, Bollinger Bands there) - or now an Enter Long and then one again.

FX Cube
Cool
  • #3,020
  • Mar 10, 2010 6:14am Mar 10, 2010 6:14am
Quoting Shaltay
IMHO, as I can see through the trades posted in the thread, in many cases the trades are based on "hammers" and "hanging mans" which are certainly the reversal models and have the tails twice larger then the bodies. And only when these models are really perfect they become Pin Bars.

Shouldn't we distinguish more clearly these candles for education purposes? For example, if it is a "hammer" - call it H, or call a "hanging man" - HM, and don't call them "imperfect PB"?
True! Never thoughta it really
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