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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #3,021
  • Mar 10, 2010 4:14am Mar 10, 2010 4:14am
Quoting lindsayf
Hey...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.
.....
Hello Ma'm lindsay,
i understand where u are coming from. i used to follow major news releases while trading.
but mid- to late-2009 until today, i have not messed with news. i have made several (not too many as some seniors here have) trades during, at news releases. u will notice (or may have noticed) what Sir Steve said above ("..price will often pre-empt news and provide a setup prior to the release..")

in a way, being aware of impending news release may serve as a signal/heads-up &/or warning.

recent post from Sir Mike
http://www.forexfactory.com/showpost...ostcount=57238


Trading is ok so far, thanks for asking.
Yes, it's been quiet lately. probably, all are practicing/trading the method.
  • #3,022
  • Mar 10, 2010 4:18am Mar 10, 2010 4:18am
http://i39.tinypic.com/m7q0zk.gif

Pin bar signaled short without indicator marking divergence though I can see divergence with my own eyes.
  • #3,023
  • Mar 10, 2010 4:21am Mar 10, 2010 4:21am
Quoting Sim
Not ideal but it's my trigger for the day to get in on some $ strength...
Hello Sim!
im not sure how to comment as your chart is not jankone-ish, jankone's method-wise.

Granted, it's your trading style, here are some observations:
1. small PB
2. fairly strong downtrend starting around 10.30 (your chart time)
3. very near possible traffic area, @ 1.0740 area
  • #3,024
  • Edited 4:35am Mar 10, 2010 4:23am | Edited 4:35am
Quoting Shaltay
IMHO....
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"?
im not sure if jankone is familiar with these terms. but im quite sure he wants simplicity: that is, just call them pinbars.

if u want to call them as such, u are free to do so. but imho, it's better to follow this thread's 'language'. (i am of the view that i should respect & follow the thread starter & thread 'language')
just my view
  • #3,025
  • Mar 10, 2010 5:24am Mar 10, 2010 5:24am
Quoting Jaquille
....
Pin bar signaled short without indicator marking divergence though I can see divergence with my own eyes.
Kindly check your chart again:
price made higher high (pinbar) while RSI kept making lower highs.
  • #3,026
  • Mar 10, 2010 5:36am Mar 10, 2010 5:36am
Quoting supremeChaos
Kindly check your chart again:
price made higher high (pinbar) while RSI kept making lower highs.
Price making higher highs and RSI making lower highs is negative divergence, is it not?
  • #3,027
  • Mar 10, 2010 5:46am Mar 10, 2010 5:46am
Jaquille,
sorry, i misread your post.
i thought u said 'indicator did not make/form' divergence when u said "without indicator marking divergence"

to answer your question
"Price making higher highs and RSI making lower highs is negative divergence, is it not?"
no, it's positive divergence.
negative/reverse/hidden divergence is present when price is making lower high & indicator is making higher high.
  • #3,028
  • Mar 10, 2010 6:17am Mar 10, 2010 6:17am
Quoting supremeChaos
Jaquille,
sorry, i misread your post.
i thought u said 'indicator did not make/form' divergence when u said "without indicator marking divergence"

to answer your question
"Price making higher highs and RSI making lower highs is negative divergence, is it not?"
no, it's positive divergence.
negative/reverse/hidden divergence is present when price is making lower high & indicator is making higher high.
Price making lower lows and indicator making higher lows is positive divergence.

Price making higher highs and indicator making lower highs is negative divergence not positive.
  • #3,029
  • Edited 6:30am Mar 10, 2010 6:17am | Edited 6:30am
Quoting supremeChaos
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



Thanks for commenting, supremeChaos!
Your advice reinforces consistent trading habits with pinbar style trading.
Much appreciated.
  • #3,030
  • Mar 10, 2010 6:17am Mar 10, 2010 6:17am
http://i40.tinypic.com/281u0pw.gif

Another pin bar short.
  • #3,031
  • Mar 10, 2010 6:25am Mar 10, 2010 6:25am
Quoting Jaquille
Price making lower lows and indicator making higher lows is positive divergence.

Price making higher highs and indicator making lower highs is negative divergence not positive.

You can call divergence positive and negative or
you can call divergence regular and hidden.
Attached Image (click to enlarge)
Click to Enlarge Name: regular-bearish-divergence.png Size: 49 KB
  • #3,032
  • Mar 10, 2010 6:52am Mar 10, 2010 6:52am
Quoting Jaquille
Price...
i think we have a mix up with the terms. that's ok with me.
i never use the words 'positive/negative' when i talk of divergence, so apologies if im wrong.

anyway, here's the link ,again, for some people out there
http://www.babypips.com/school/divergence_trading.html
  • #3,033
  • Mar 10, 2010 7:22am Mar 10, 2010 7:22am
My only trade for the day in orange, went up like a rocket and came straight back down, stopped at cost.

For me the yellow box was the trade of the day if anyone took it, I didn't as I'm only trading pins but it was a lovely bullish outside bar with divergance sitting on the weekly pivot and the retrace just scraped the BE but didn't quite get it.

Cheers
Attached Image (click to enlarge)
Click to Enlarge Name: $EURUSD (5 Min) 10_03_2010.jpg Size: 119 KB
Want what the market wants
  • #3,034
  • Mar 10, 2010 7:26am Mar 10, 2010 7:26am
Quoting supremeChaos
i think we have a mix up with the terms. that's ok with me.
i never use the words 'positive/negative' when i talk of divergence, so apologies if im wrong.

anyway, here's the link ,again, for some people out there
http://www.babypips.com/school/divergence_trading.html
Tis a good thing when what I have learned is challenged. Mistakes and misunderstands get fixed that way. Learning can occur. No apologies necessary. Thanks.
  • #3,035
  • Mar 10, 2010 7:35am Mar 10, 2010 7:35am
Quoting mike w
Nice one Shaltay, I took the same one but on the gbp/jpy. They both had the same PA. I plan on holding mine for a while as well. Here's another that looks like it may end up netting a couple thousand. The usd/chf- I checked where we are on the higher timeframes and this is looking phenomenal. If not, I'll end up getting stopped out either at B/E or for a loss of 5 pips, I haven't decided yet.
Does anybody remember this from a few days ago? I'm posting this to show everybody what you're capable of. Keep your heads on right, realize where the price is at, and trade your plans. I don't care what anybody tells you, not even yourself; you can do this and I know it. I don't care who you are, you're capable of anything. You can be what you want to be.
If you're willing to go through all the battles you gotta go through to get where you want to be, what and who's able to stop you? Nothing and nobody, don't forget that.
I dream, therefore I become.
  • #3,036
  • Mar 10, 2010 8:22am Mar 10, 2010 8:22am
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


Enter Long USDCHF at 1.06930 due to the fact that EURUSD is now at 1.3675.

FX Cube
  • #3,037
  • Mar 10, 2010 8:25am Mar 10, 2010 8:25am
Quoting Sim
Not ideal but it's my trigger for the day to get in on some $ strength.. TP set incase I gtg out
hit that TP and reversed lol while I went to a lecture.. na bad eh
  • #3,038
  • Mar 10, 2010 8:35am Mar 10, 2010 8:35am
Quoting Forexcube
EURUSD, M15, 2010 March 10
Profit + 40 pips
It is important to leave either part of the trade or full position with SL "in the money" running (especially after price closed above EMA20) - if we have a trending day, price will run and run...
Attached Image (click to enlarge)
Click to Enlarge Name: EU_M15.png Size: 69 KB
One Chart is Worth Ten Thousand Words.
  • #3,039
  • Mar 10, 2010 9:28am Mar 10, 2010 9:28am
Probabloy not an A+ setup...but pin bar at PPZ with RSI divergence and just above 21EMA and within BB ...personally thought this had a high chance of boucing straight up to the first target area.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 17 KB
  • #3,040
  • Edited 10:50am Mar 10, 2010 10:00am | Edited 10:50am
Quoting Forex007
It is important to leave either part of the trade or full position with SL "in the money" running (especially after price closed above EMA20) - if we have a trending day, price will run and run...


A bird in the hand is worth two in the bush.

+ 40 pips are +40 pips.

I don't trade the rule strictly I will earn money!

Next chance will coming.

"If we have a trending day", you don't know it! H4 shows sideway market since several days.

First in, first out!

Fx Cube
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