Jankone M5 thread

SL was hit on this eu short..

looks decent enough mate no worries

Shouts out going to Busoi, the man!

Shouldn't be lookin at charts but couldn't resist..

BOOYAKASHA!!

cut it here.. sigh

back to psychophysiology revision

and maybe some desperate housewives

बधाई

Grr you think I know/am Hindi?????

PUNJABIIII!!!!

hey you!

yesterday in aud/usd i took this setup inspired by your post some weeks ago.. these are the setups we should be looking for, do i get it right? i have observed it over the last weeks and i really like this style! it would be very cool if you could post some of the setups looking like this that you take!

Hi Jankone & Seniors,i have attached a pic on a setup based on your method.I know this method is base on Ryanmcd.If there were no pinbars,would you take that trade?

2nd question,do you follow the exact same rules as Ryan? because he has this rule "You use PA to buy dips/ sell rallies. If the PA set up ie pinbar etc is below the 21 EMA/bb you pass on the trade if trend is up. IF the setup is above the 21 EMA/bb and Trend is down you pass on the trade."

Do you guys follow this rule?

Hope somebody could answer it.

Thank You

that setup happens often.
it's a continuation pinbar (pinbar with the trend). [(for a downtrend) it can be a PB, 2-bar PB, x-bar PB, BEOB, & sometimes it appears as an indiscernible PA but bars show a bearish bias]
if u want to u can go on trading just this setup, or have it as 1 of the (few) setups that u take (/specialize on).

by the way, xeqter,
it's more cordial & respectful to address someone by his/her name rather than saying 'hey you!'. the "!" in this context also connotes a slightly unpleasant meaning.
dont forget this is an international forum. just a little advice from a fellow trader

hello khairul81,
here are the answers:

1. are u referring to the bar with a red down arrow?
if there was no PA, u can simply opt to pass on the trade.
however, sometimes, price makes a 2-bar PB, x-bar PB, etc, & imho, it's still tradable (considering other factors are in favor too for u to take the trade, example, with the trend, etc..).

2. to be honest, i have not read all of Ryanmcd (but i personally recommend everyone to read most/all of his posts; last year, very few or no thread/trader talked about BB's, i was happy when i knew that he has been using BBs successfully for many years now).
but i have known & been using BB's since late 2005/mid 2006, so i know a thing or two about BB's. (John Bollinger's book happen to be my first trading book... i vividly remember i bought it for about 1/4 of the original price, second-hand book, LOL.. very few people are aware of trading in this country, the book looked NEW/unused, i quickly grabbed it! call me crazy, but i was a very happy guy that day)

personally, i agree with that rule he shared with us here.
it is simply trading with the trend. u should follow it.

Hope this helps

-----------
EDIT:
by the way,
for question #1.
if u were referring to the bar with red arrow, u will notice that it was countertrend. avoid taking trades like that (if u are new with this method).

Hi Sc,thank you for replying.I do know its a counter trend,the thing is is it possible if we have a nice location with divergence,do you think putting a sell limit will be risky? Some sort like a rac touch trade but without the fibs and a trendline.

Thank you

kai

kai,
wow, touch trade?
that would be advanced trading.
that may require a bit more experience... no harm for u to experiment with it.

for now, u might want to stick with the 'usual' way, which is putting an order below the PB (for bearish trades). this way there is a confirmation of momentum on our side.

Gd advice.been lurking in j16 for a few mths thats y i know about touch trading.haha.its a gd thread.recommended to all!

I tried the dailies and 4 hr and i was quite profitable on demo but seeing the drawdown before price goes up is something I am nt comfortable with.anyway for myself trading the shorter timeframe is much stressful forme! Haha

thank you

I meant to say the shorter time is LESS stressful for me!

yes, i recommend learning about james16 thread first before venturing into this thread.
if u find lower TF's much stressful, then i humbly suggest u spend more time in the james16 thread.
by the way, if u experience long-time drawdowns in higher TF trading, it's either u are not being picky or u are picking trades that mature longer (than u expect; it might not match your 'internal makeup'/trading personality).
once u are doing well with james16 method in H4-Weekly charts, then u can decide to move down to lower TFs (if u deem necessary, for your taste/style).

the james16 method enhances your trading experience with this method.

probably in the near future (after going through the above process), u will find the "sweet spot"/perfect time frame/s for u is the M15/M30 - H4 zone. (this is my opinion based on your recent post above - im one of FF's resident psychologists, lol).
dont forget, james16 & ryanmcd's (this thread's) method are applicable in all timeframes, markets.

Good luck!


EDIT:
just saw your latest post.
if u find the lower TFs less stressful, then keep at it.
regardless, james16 thread is still recommended.http://cdn.forexfactory.com/images/s...im/winking.gif

hello supremeChaos,

thanks for your answer. Im very sorry for sounding a bit "rude" or something.. english is not my mothertongue so sometimes it's quite difficult to find the right words at the right place..
my posts here are never meant to sound harsh or something because i am very grateful for all the people here posting there thoughts and knowledge!

hence.. thanks for your post, too! I'm looking forward to trading setups like this because to me they seem to be high probability setups..On nice trending days i think i will take the "normal" jankone/ryanmcd setups, too i.e. without the extrac onfirmation of bouncing off a previous s/r line in direction of the trend but only in conjunction with mid bb/21 ema..certainly a little discretion is needed but i hope with the basic knowledge given by all you seniors here and a lot of practice we have a good basis to be profitable in this business..

so, once again, thanks to all you contributors here and keep on posting,please!


kind regards!

xeqter,
Macht nichts
Bitteschön, kein problem
Bitte, gern geschehen
Das habe ich gern für Dich gemacht
(source: Internet)

English is not my first language too
im pretty sure u were not trying to be disrespectful. probably u were excited ('hey you!')

if u havent yet, spend more time on james16 thread too.

Keep on posting... i'll try my best to help here whenever i can.
im forever a Boy Scout

Here is something I'm watching......

First chart (1 Hour) identifies a good area to watch - 1.45

Second chart (5 Min) I'm looking for entries

There is also a small-ish Weekly Bullish Pin giving extra weight to this potential setup

No trade here - was a fake-out rather than break-out.

But I will continue to watch this area - maybe something will happen on a larger time-frame?

I like these sorts of setups, especially at big round numbers because you can get some amazing R/R ratios.

I tend to keep my stop below the round number to give the trade room to move. Sure, you often get stopped out but when you get a runner is can be huge.