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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #3,941
  • Aug 31, 2010 11:19am Aug 31, 2010 11:19am
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
That's awesome bro. Keep it up and congrats
  • #3,942
  • Aug 31, 2010 11:40am Aug 31, 2010 11:40am
Thnx Sim


Quoting Sim
That's awesome bro. Keep it up and congrats
FxHome
  • #3,943
  • Aug 31, 2010 11:52am Aug 31, 2010 11:52am
Quoting Muhammad989
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..
Oh Yes, I´ve read it....

Bye
If I Change, the whole World changes!
  • #3,944
  • Aug 31, 2010 11:44pm Aug 31, 2010 11:44pm
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 ....
Awesome Muhammad.
Congratulations!


Quoting davidnorman
Hi all new to this thread, very much enjoyed reading most of the content !!....
Hello Dave,
u did not specify which pair or instrument this is.
anyway, yes it's a valid pin.
if u took it, notice price failed to breach that pin's high. that area must be resistance.beyond your chart, it seems price did go further down.

Keep posting Sir!


Quoting Forex Girl
Scott,
Could You please verify my questions on chart below??
....
Hello Forex Girl,
if i may...
1. yes he is referring to that BUOB
2. i cant see clearly if there's div
but yes, personally, that small PB is a good buy: tight stop, with trend, & off the low BB.... PLUS 1.0550ish resistance turned support
  • #3,945
  • Sep 1, 2010 7:34am Sep 1, 2010 7:34am
Quoting Dhb
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.

Attachment
Thanks for the feedback, always good to be reminded

This is one of the things I used to struggle a lot and still am sometimes. Div with clean consecutive highs/lows are definitely my targets. I have spent fair amount of screen time, and somethings have became 'visual' to me.

In this case, the visual of the div and the lows as circled in yellow was good and strong enough for me. But your point about consecutives is well taken, and they are my preference too when they happen.
Attached Image (click to enlarge)
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  • #3,946
  • Sep 1, 2010 7:36am Sep 1, 2010 7:36am
Quoting supremeChaos
Awesome Muhammad.
Congratulations!



Hello Dave,
u did not specify which pair or instrument this is.
anyway, yes it's a valid pin.
if u took it, notice price failed to breach that pin's high. that area must be resistance.beyond your chart, it seems price did go further down.

Keep posting Sir!



Hello Forex Girl,
if i may...
1. yes he is referring to that BUOB
2. i cant see clearly if there's div
but yes, personally, that small PB is a good buy: tight stop, with trend, & off the low BB.... PLUS 1.0550ish resistance turned support
Thank you, SumpremeChaos, for your support!
If I Change, the whole World changes!
  • #3,947
  • Sep 1, 2010 11:48am Sep 1, 2010 11:48am
hi, could some confirm if this was a valid set up at about 9:15am today --wed.
Attached Image (click to enlarge)
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  • #3,948
  • Sep 1, 2010 7:15pm Sep 1, 2010 7:15pm
Quoting pbw
hi, could some confirm if this was a valid set up at about 9:15am today --wed.
Your charts are a bit too small to see..could you post one zoomed in or let me know which pair and what time (est) and I'll take a look

Scott
  • #3,949
  • Sep 1, 2010 7:17pm Sep 1, 2010 7:17pm
Quoting Forex Girl
Scott,

Could You please verify my questions on chart below??

Thank you
Hi Forex Girl,

Thanks supreme for answering. Yes, that is the BUOB I was referring to. Personally, the second pin I wouldn't take because it was below the mid-bb and the 21ema, and it was a bit small. If the tail of the pin had pierced the mid-bb/21ema and closed above this area then I would have probably taken it.

The BUOB that took out my stop (the second one I had pointed out in my chart) is more of what I look for in terms of location. However, I didn't take that one because it was trading right into the highs. If there was more room to get my stop to BE I would have taken it. I like to see my trend continuation setups right at that sweet spot by the mid-bb and 21ema.

Hopefully that helps. Let me know if you have any other questions.

Scott
  • #3,950
  • Sep 1, 2010 8:34pm Sep 1, 2010 8:34pm
Quoting pbw
hi, could some confirm if this was a valid set up at about 9:15am today --wed.
like Scott said, your chart is very small.

looking exclusively at your chart, it looks like it's eurusd.
correct me if im wrong... on that right chart, i can see a BEOB with MACD div.
there was RSI div (u were using RSI14). i think if it were RSI6, there's a good chance that it would've shown a better div.

unless u have been using them profitably/comfortably for a long while now, i suggest u trim your indicators to 1-2 (instead of the current 3: Fast Stochastic, MACD, RSI). that 3 indicators are essentially saying the same thing.
  • #3,951
  • Sep 2, 2010 3:04am Sep 2, 2010 3:04am
Attached Image (click to enlarge)
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Double top with divergence. Does this count?
Gone to a better place
  • #3,952
  • Sep 2, 2010 3:07am Sep 2, 2010 3:07am
not normally as not swing high or low.. also note most double tops bottoms have div anyway
  • #3,953
  • Sep 2, 2010 3:28am Sep 2, 2010 3:28am
Thanks Sim. I'll have to read the thread.
Gone to a better place
  • #3,954
  • Sep 2, 2010 3:57am Sep 2, 2010 3:57am
Quoting smikester
...
Double top with divergence. Does this count?
yes, but price was heading into 0.8300 (u can also see PPZ/price cluster/support right at that area). plus up trend is pretty strong (gbp pretty weak)
  • #3,955
  • Sep 2, 2010 4:26am Sep 2, 2010 4:26am
Hello Jack,

what a great analysis,possibly the best way to sort out the M5 thanks for this..

please do post some more trends

Thanks
Albert.
  • #3,956
  • Sep 2, 2010 5:12am Sep 2, 2010 5:12am
Hello Albert,
whose Jack?
are u referring to Jankone, perhaps?
  • #3,957
  • Sep 2, 2010 6:30am Sep 2, 2010 6:30am
Hello Supreme,

Is this a good Price Action Analysis? R:R = 1:1; TF 1H

Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: aussie beob.gif Size: 45 KB
If I Change, the whole World changes!
  • #3,958
  • Sep 2, 2010 7:14am Sep 2, 2010 7:14am
Quoting Forex Girl
Hello Supreme,

 Is this a good Price Action Analysis? R:R = 1:1; TF 1H
Hello!
well, this is not exactly a trade according to this method.

if are into trading IBs, then personally i would've entered after the first IB (first red bar after the high) or after the second IB. (remember the RSI div formed on that blue bar, so i would like to enter as near to that high as possible for a tight stop)
a better (conservative) entry, IMHO, would be right below those lows (0.9080ish)... this way, u eliminate the risk of price stalling there or bouncing/reversing there.

btw, u should not concern yourself too much of R/R. u must depend on PA(price action) &/or S/R mainly for your exit decisions...
think about it: will u not exit a trade because u havent reached your desired R/R (1:1, for example), despite price telling u that it has reached a potentially strong S/R?
READ this post by mbqb11 to get enlightened
  • #3,959
  • Sep 2, 2010 8:24am Sep 2, 2010 8:24am
1st trade of the month .....chart
Attached Image (click to enlarge)
Click to Enlarge Name: 2 sep eu sell pb.gif Size: 26 KB
FxHome
  • #3,960
  • Sep 2, 2010 9:15am Sep 2, 2010 9:15am
Quoting supremeChaos
Hello!
well, this is not exactly a trade according to this method.

if are into trading IBs, then personally i would've entered after the first IB (first red bar after the high) or after the second IB. (remember the RSI div formed on that blue bar, so i would like to enter as near to that high as possible for a tight stop)
a better (conservative) entry, IMHO, would be right below those lows (0.9080ish)... this way, u eliminate the risk of price stalling there or bouncing/reversing there.

btw, u should not concern yourself too much of R/R. [u]u...
Oh my God, when I think I am understanding it, something goes wrong....
You are right.
Thank for your support!
If I Change, the whole World changes!
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