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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #3,301
  • Mar 26, 2010 8:09am Mar 26, 2010 8:09am
Quoting Forex007
This is off-topic, but still relevant...
it may well be off-topic, but i for one appreciate trading-related 'gold nuggets'

i believe it's an inevitable & integral part of learning.
  • #3,302
  • Mar 27, 2010 9:34am Mar 27, 2010 9:34am
Quoting Forex007
As for "tradable", I guess that depends: it's one thing to observe some "patterns", it's the other - what to do with them. Those two triangles look similar, yet broke to the opposite sides. So, when we see such a triangle next time, what do we do?..

Have a look at this video (http://www.youtube.com/watch?v=VTtqsmCqMhQ&feature=player_embedded): it looks convincing, but that is post-factum analysis. I.e. if you pause it at any moment, can you see - based on...
I'll watch the video later, but in short the triangle is a continuation pattern so you would buy a break to the upside. If you wanted you could buy a break of either side in which case as you saw there was a false breakout to the downside but at worse you would have probably been out at BE.

I've started a thread to share my thoughts on this timeframe in more detail as I realise my posts are away from the main them behind this thread.

Good weekend to all.
  • #3,303
  • Mar 29, 2010 1:53am Mar 29, 2010 1:53am
Nice Monday trade on gbp/usd, after braking resistance retest with nice pin and went up.
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  • #3,304
  • Mar 29, 2010 1:56am Mar 29, 2010 1:56am
Quoting lovejoy80
Update:
Sorry for the off topic, what do you use to edit your charts? Have paint, and some other editing things, but nothing with the nice arrows.
  • #3,305
  • Mar 29, 2010 3:09am Mar 29, 2010 3:09am
Quoting Jlr
Sorry for the off topic, what do you use to edit your charts? Have paint, and some other editing things, but nothing with the nice arrows.
I think he's using Jing.

http://www.jingproject.com/
  • #3,306
  • Mar 29, 2010 3:21am Mar 29, 2010 3:21am
Quoting neutro
I think he's using Jing.

http://www.jingproject.com/
Yep, Jing
  • #3,307
  • Mar 29, 2010 3:22am Mar 29, 2010 3:22am
Quoting dzero
Nice Monday trade on gbp/usd, after braking resistance retest with nice pin and went up.
nice
  • #3,308
  • Mar 29, 2010 4:01am Mar 29, 2010 4:01am
Quoting lovejoy80
nice
Lot of thank´s to this thread, and love your new thread, as that is more close to my methode!
  • #3,309
  • Mar 29, 2010 4:04am Mar 29, 2010 4:04am
Today is nice trading day. Took eur/usd short as div, and round nr. + otside bar, and that give some more pip.
  • #3,310
  • Mar 29, 2010 4:06am Mar 29, 2010 4:06am
Quoting dzero
Today is nice trading day. Took eur/usd short as div, and round nr. + otside bar, and that give some more pip.
I had the div and the round number but no PA
  • #3,311
  • Mar 29, 2010 4:18am Mar 29, 2010 4:18am
Here is how i so it.
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  • #3,312
  • Mar 29, 2010 4:39am Mar 29, 2010 4:39am
Quoting lovejoy80
Yep, Jing
Thanks guys
  • #3,313
  • Mar 29, 2010 9:18am Mar 29, 2010 9:18am
Quoting mike w
Yeah, that's what I'm talking about, but that is a fantastic pin and price didn't "drift" up to it. The ones that I noticed not to play out were when price was drifting up to that point, instead of basically exploding up to it. Personally, I would trade that pin setup.

I guess I need to figure out a way to better explain it. lol
Perhaps this one is better? More congestion just below the break of pbs.
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  • #3,314
  • Mar 29, 2010 10:51am Mar 29, 2010 10:51am
Quoting Jduester
Perhaps this one is better? More congestion just below the break of pbs.
That's exactly it brother. I'm writing back to your PM from the other day right now too. My bad for not getting back to ya sooner Josh.

I know we aren't supposed to talk about elliot wave or anything other than this method on the thread, but that setup is just a leg up in a retracement or corrective pattern more often than not. I'm not going to go into a lot of detail on the thread about it, because that's not the purpose here plus I'm awful at detailing my thought process which would just confuse most.
I dream, therefore I become.
  • #3,315
  • Mar 29, 2010 11:35am Mar 29, 2010 11:35am
Hi guys!

you all are doing great! and esp Forex007, thanks for your valuable inputs

please check this link about pin bar modification

What i am trying is to get very few alerts! like i want to see those pins which are with the trend and do not touch upper or lower BB. I know not all pins we will get with the trend by this modification , but it can lower the frequency of unwanted pins

Cheers
Winston
Trading is a delicate balance of Strategy , Money management and Psychology
  • #3,316
  • Mar 29, 2010 12:28pm Mar 29, 2010 12:28pm
1135 est EJ
1140 est EU
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  • #3,317
  • Mar 29, 2010 4:52pm Mar 29, 2010 4:52pm
trades after main markets close...
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If you think you can or cannot do it you are correct
  • #3,318
  • Mar 30, 2010 8:56am Mar 30, 2010 8:56am
Didn't catch it...
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  • #3,319
  • Mar 30, 2010 9:02am Mar 30, 2010 9:02am
I've stopped looking for CT trades and have since been more relaxed and less stressed as looking only for trend trades simplifies the process a good deal. One other thing I am beginning to notice is how SR really ties into a good trend trade. Note this pin, not the best pin but great space, price swings up to a previous SR level (now its flipped and acts as resistance), the pin forms and price takes off. Stalls a bit at the previous lows (decided to not get to BE yet as price was still heading down- would've been hit for BE), then breaks the lows and takes off with the trend.

Got in a few pips late after the pin closed with a market order- should've been a 5pip stop in an ideal world but got in with a 7 pip stop, 28 pip target. +4%
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  • #3,320
  • Mar 30, 2010 9:51am Mar 30, 2010 9:51am
Quoting stoli7188
I've stopped looking for CT trades and have since been more relaxed and less stressed as looking only for trend trades simplifies the process a good deal....
Great trade and great analysis
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