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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #3,921
  • Aug 26, 2010 5:22pm Aug 26, 2010 5:22pm
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  • #3,922
  • Aug 26, 2010 5:25pm Aug 26, 2010 5:25pm
Hi, first time post here -- and was attempting to put on a chart --please at the green chart only above -- euro/usd -- it looks like a nice divergence set occured today at 10:40am eastern -- can anyone confirm if ths was a valid set up -- cheers--
  • #3,923
  • Aug 26, 2010 6:23pm Aug 26, 2010 6:23pm
Quoting pbw
Hi, first time post here -- and was attempting to put on a chart --please at the green chart only above -- euro/usd -- it looks like a nice divergence set occured today at 10:40am eastern -- can anyone confirm if ths was a valid set up -- cheers--
Affirmative. Fiber showed divergence, as did aussie. I personally like the div on aussie best. Look at the shape of the rsi. It's uninterrupted, like an inverted W, unlike the div shown on fiber, which is more squiggly, so to speak. Also, the second rsi high on the aussie chart was more clearly lower than the first rsi high, so the div signal was stronger. The second high of the fiber rsi was also lower than the first rsi high, but you almost have to verify this by placing a horizontal line over the first rsi high. While it's still divergence, it's not A+, so to speak. The more obvious the divergence, the better. The aussie chart shows a prime example.

Another thing to look out for with these setups is outer BB penetration. The second high that fiber made (i.e. price, not rsi), did not penetrate the upper BB. The second high of aussie did penetrate the upper BB. BB penetration adds strength to the signal. It shows exhaustion. So if I had to choose, I would have taken the aussie short over the fiber short without a doubt, even though with hindsight, both would have worked out quite nicely.

But to summarize, yes, what you indicated on the green fiber chart is indeed divergence.

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It's not about how much you make, it's about how much you don't lose.
  • #3,924
  • Edited 7:15pm Aug 26, 2010 7:04pm | Edited 7:15pm
Hi everyone good thread..

pinbars on M5


when talking about candles, Im first thinking about D1, next H1 ( h4 dif. timezones )

but isnt M5 too fast for candle trading... the more traders are looking at something the better the edge... but candles on M5 isnt that noise ?


M1 zoomed out, a double top @ the Pivot.. you dont need to wait for a M5 candle




.
Follow the Trend, thats all
  • #3,925
  • Aug 26, 2010 7:13pm Aug 26, 2010 7:13pm
EU H1

2 pins @ MA 200

the other one is MA 100
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Follow the Trend, thats all
  • #3,926
  • Aug 27, 2010 1:15am Aug 27, 2010 1:15am
Quoting pauly
Hi everyone good thread..

pinbars on M5


when talking about candles, Im first thinking about D1, next H1 ( h4 dif. timezones )

but isnt M5 too fast for candle trading... the more traders are looking at something the better the edge... but candles on M5 isnt that noise ?


M1 zoomed out, a double top @ the Pivot.. you dont need to wait for a M5 candle




.
I know some guy who's trading candle formations on M1, and he does very well doing it

they work on every timeframe
Never whishing, always trading.
  • #3,927
  • Aug 27, 2010 4:45am Aug 27, 2010 4:45am
Quoting Hova
I know some guy who's trading candle formations on M1, and he does very well doing it

they work on every timeframe
Hehe exactly, infact it's not even the candles, it's just the understanding of price. attached is m1
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  • #3,928
  • Aug 27, 2010 7:04am Aug 27, 2010 7:04am
Quoting Sim
Hehe exactly, infact it's not even the candles, it's just the understanding of price. attached is m1

interesting chart Sim, im curious though.. how much does the spread come into play with your trading on the 1m? It seems to me with such small stops/ targets the spread (if your using a non commissioned based broker, such as Oanda- as far as I know) will be a significant portion.

However it does appear to me that you know what you are talking about and I was curious where you learned to read price like that. My pa education is mainly a product of the J16 thread and FF in general. I am slowly working through pring on price and I guess the book about reading price bar by bar would help to.

I basically trade a variation of this m5 method, looking for 4:1 on each trade, only with the trend. I'm not so much looking to learn your style as to where you got your education on reading price. But thanks for the post and I look forward to snooping around your profile/old posts. haha Take Care!

Chris
  • #3,929
  • Aug 27, 2010 7:30am Aug 27, 2010 7:30am
Quoting stoli7188
interesting chart Sim, im curious though.. how much does the spread come into play with your trading on the 1m?...
Ahh I don't want to divert from the thread which is awesome in itself.. but quickly I will say that it's all screen time!! Impossible to put into words hahah.. will PM you some deeper thoughts on why I don't think 'reading' price is ever actually taught, for two reasons a) because it would take so much effort and is invaluable b) it's so personal has to be self-taught
  • #3,930
  • Aug 27, 2010 3:36pm Aug 27, 2010 3:36pm
Quoting pauly
EU H1

2 pins @ MA 200

the other one is MA 100
Hi Pauly,

I have been hearing the importance of how to use ema200. Could you explain me How to use ema200 with this PinBar & Price Action System?

Thank You
If I Change, the whole World changes!
  • #3,931
  • Aug 30, 2010 8:09am Aug 30, 2010 8:09am
ct/div setup, but it was approaching news time and decided not to take it. seems made the right decision because the big spread at news time would hit the stop.
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  • #3,932
  • Aug 30, 2010 12:02pm Aug 30, 2010 12:02pm
Imho, there was no div at the time, dhh.

When you do CT's, make sure all parameters are A+. Have a look at the aussie chart I posted on the previous page. That chart shows a prime example of proper divergence. Consecutive highs, piercing of the extreme BB, M-shaped RSI, no squiggly stuff in between. That's what you should be looking for if doing CT's.

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It's not about how much you make, it's about how much you don't lose.
  • #3,933
  • Aug 30, 2010 8:19pm Aug 30, 2010 8:19pm
Quoting Dhb
Imho, there was no div at the time, dhh.
...
i believe he plotted a div 6-7bars prior the bars u used to plot a div. (referring to the left side of the div)
  • #3,934
  • Aug 31, 2010 3:03am Aug 31, 2010 3:03am
Hi SC,

I believe you're right about that. But that still would not have been proper divergence, imho.

Hopefully my chart explains things a little bit better for those who might still be wondering what I'm on about.

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It's not about how much you make, it's about how much you don't lose.
  • #3,935
  • Aug 31, 2010 7:58am Aug 31, 2010 7:58am
Hope someone else got in on this one too. After taking a bunch of marginal setups that didn't fully retrace or weren't in a good trend and getting burned, I waited for a clear trend and a full retracement to the mid-bb and 21 ema area.

USDCAD 5 Minute BUOB/2 bar pin. Simple. Trades like these remind me that they are well worth waiting for and skipping all the mediocre and iffy ones that show up in between.


Scott
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  • #3,936
  • Aug 31, 2010 8:32am Aug 31, 2010 8:32am
HI all I M glad to share it that i hve done 8 trades in month of august and 7 wins 1 loss .which i posted all of my trads .i m very happy to see this result i hope september is more relaible for me bcoz i learn from my trads ..need comments welcome.

Muhammad
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  • #3,937
  • Aug 31, 2010 9:10am Aug 31, 2010 9:10am
Quoting scott087
Hope someone else got in on this one too. After taking a bunch of marginal setups that didn't fully retrace or weren't in a good trend and getting burned, I waited for a clear trend and a full retracement to the mid-bb and 21 ema area.

USDCAD 5 Minute BUOB/2 bar pin. Simple. Trades like these remind me that they are well worth waiting for and skipping all the mediocre and iffy ones that show up in between.


Scott
Scott,

Could You please verify my questions on chart below??

Thank you
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If I Change, the whole World changes!
  • #3,938
  • Aug 31, 2010 9:21am Aug 31, 2010 9:21am
Quoting Muhammad989
HI all I M glad to share it that i hve done 8 trades in month of august and 7 wins 1 loss .which i posted all of my trads .i m very happy to see this result i hope september is more relaible for me bcoz i learn from my trads ..need comments welcome.

Muhammad
Hi Muhammad,

Great Job!!! Where you´ve posted your trades??? Do you have the Setups or charts??

Cheers!!
If I Change, the whole World changes!
  • #3,939
  • Aug 31, 2010 11:07am Aug 31, 2010 11:07am
Hi all new to this thread, very much enjoyed reading most of the content !!

any help greatly app...There is no divergense however it is with the trend I think ?

Dave
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  • #3,940
  • Aug 31, 2010 11:18am Aug 31, 2010 11:18am
hi forex girl if u read previous posts from 3,5,6,9,11,17,24,25,august u can find my post trade place and trade done pics..



Quoting Forex Girl
Hi Muhammad,

Great Job!!! Where you´ve posted your trades??? Do you have the Setups or charts??

Cheers!!
FxHome
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