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James16+Rayanmcd(Jan kone) and ME 7 replies

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Jankone M5 thread

  • #4,681
  • Nov 13, 2012 10:07am Nov 13, 2012 10:07am
Some more Trendtrades, these are far from Perfect but can be traded if you know what you are doing.
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  • #4,682
  • Nov 13, 2012 10:21am Nov 13, 2012 10:21am
Here is some more
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  • #4,683
  • Nov 13, 2012 10:27am Nov 13, 2012 10:27am
So could you please specify where do you want your PBs to be located?Because I'm lost a bit I see thatyou don't require them to be at the SMA21 as ryan and jankone do.What's the ideal location for you then?
  • #4,684
  • Nov 13, 2012 10:37am Nov 13, 2012 10:37am
If you trade with the Trend, then you want to see a small retracement and the Pin sticking out at the top of it. Watch out that the retracement is not too big . If it is then you trade it only with divergence. Dont Concentrate on BBīs and Smaīs too much they are more of a "moving S/R indicator" than anything else.
  • #4,685
  • Nov 13, 2012 11:28am Nov 13, 2012 11:28am
Quoting stockEX
If you trade with the Trend, then you want to see a small retracement and the Pin sticking out at the top of it. Watch out that the retracement is not too big . If it is then you trade it only with divergence. Dont Concentrate on BBīs and Smaīs too much they are more of a "moving S/R indicator" than anything else.
Could you please comment on the attached chart? I marked bars where the retracement is rather big but there's no div at all but you still grade them pretty high. And what about CT trades? If the overall trend is down would you take longs at all?
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  • #4,686
  • Nov 13, 2012 11:42am Nov 13, 2012 11:42am
Quoting liopro
Could you please comment on the attached chart? I marked bars where the retracement is rather big but there's no div at all but you still grade them pretty high. And what about CT trades? If the overall trend is down would you take longs at all?
One of the problems I have trading this strategy is that often a PB indicates a CT trade. So does one ignore those or set tight SL & TPs? Or only trade PB in confluence with the trend? Shorter TFs can be a killer. p
  • #4,687
  • Nov 13, 2012 11:46am Nov 13, 2012 11:46am
Quoting piprac
One of the problems I have trading this strategy is that often a PB indicates a CT trade. So does one ignore those or set tight SL & TPs? Or only trade PB in confluence with the trend? Shorter TFs can be a killer. p
It seems that if you treat a trend like stockEX does i.e. zoom out and see then you'll be able to catch quite a few PBs which go with trend. On the other hand if you go jankone's or ryan's way almost all the PBs are going to be CT and those that go with trend will result in losses in most of the cases. Just my opinion though.
  • #4,688
  • Nov 13, 2012 12:10pm Nov 13, 2012 12:10pm
Quoting liopro
Could you please comment on the attached chart? I marked bars where the retracement is rather big but there's no div at all but you still grade them pretty high. And what about CT trades? If the overall trend is down would you take longs at all?
They are not "big" they are "long" .Sorry I should have been clearer about this because itīs important. What I meant was if the retracement is to strong i.e. moves to strong against the trend.
  • #4,689
  • Nov 13, 2012 12:14pm Nov 13, 2012 12:14pm
Quoting piprac
One of the problems I have trading this strategy is that often a PB indicates a CT trade. So does one ignore those or set tight SL & TPs? Or only trade PB in confluence with the trend? Shorter TFs can be a killer. p
Pinbar at Swing High/Low+Divergence=Trade , no further thought required.But setting thight SL&TP for Countertrend trades is a good idea and I recommend it.Also important for CT : Stop at BE once FTA is reached.
  • #4,690
  • Nov 13, 2012 12:19pm Nov 13, 2012 12:19pm
stockEX will you consider it as a good with trend setup? The overall trend is down and PB is a good one.
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  • #4,691
  • Nov 13, 2012 12:40pm Nov 13, 2012 12:40pm
Looks Good, but the Pinbar is not as good as you might think. The "Body" of the pin is above the prior Bar , you want it within the prior bar and only the "Tail" sticking out . Itīs still a good Setup and I would take it, but itīs not perfect.
  • #4,692
  • Nov 13, 2012 1:03pm Nov 13, 2012 1:03pm
Quoting stockEX
Looks Good, but the Pinbar is not as good as you might think. The "Body" of the pin is above the prior Bar , you want it within the prior bar and only the "Tail" sticking out . Itīs still a good Setup and I would take it, but itīs not perfect.
Within he prior bar's body or within the prior bar?
So to summarise:

1. If the overall "zoomed out" trend is up you take good PB which is located anywhere as long as retracement isn't too steep.
2. If retracement too steep you take PB with div.
3. If there's CT PB you take it as well as long as there's good div in place.

Am I right so far?
  • #4,693
  • Nov 13, 2012 1:52pm Nov 13, 2012 1:52pm
Quoting liopro
Within he prior bar's body or within the prior bar?
So to summarise:

1. If the overall "zoomed out" trend is up you take good PB which is located anywhere as long as retracement isn't too steep.
2. If retracement too steep you take PB with div.
3. If there's CT PB you take it as well as long as there's good div in place.

Am I right so far?
Correct, except I donīt take Pinbars anywhere, only at good locations.
  • #4,694
  • Edited 2:56pm Nov 13, 2012 2:25pm | Edited 2:56pm
So this is the point I didn't quite understand. May I ask you to write a short list of those "good locations"? I believe it's the most important thingMuch appreciated,mate!
P.S Why on your last chart you marked one of the bars with "bad location"? What is that bad about it? I presume that the second setup from left is very much the same except the bad one is on the top of the steep retracement.
  • #4,695
  • Nov 13, 2012 9:18pm Nov 13, 2012 9:18pm
Hi Pals,

This is EU M15.

Is this the perfect pinbar according to the trade setup?
Adding 4H S/R (Recent SR), THV4 TZPivotD(black), HoursChannels_v1 help me much in supporting decision to trade

Thank you..

http://images.forexfactory.net/attach/png.gifPerfect PinBar.png
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  • #4,696
  • Nov 14, 2012 7:00am Nov 14, 2012 7:00am
stockEX, how would you define XJPY pairs trend today? It seems that it sort of flat-up.Agree?
  • #4,697
  • Nov 14, 2012 10:50am Nov 14, 2012 10:50am
GJ H4

here's a nice pin , larger timeframe - on GBP JPY - I don't normally use MAs myself - but thought I would take a look at the 55 and 200 (EMA)
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  • #4,698
  • Nov 14, 2012 11:55am Nov 14, 2012 11:55am
Quoting liopro
So could you please specify where do you want your PBs to be located?Because I'm lost a bit I see thatyou don't require them to be at the SMA21 as ryan and jankone do.What's the ideal location for you then?
Well so here is what I want to see from these setups. If we are in a general Downtrend like this, then I want to see a downmove (sellers are in controll) then a retracement(buyers get into the market), and then a Pinbar(buyers get shaken off,take profit or get their stops hit).If that happens itīs likely that the downtrend will continue, so I get in.If you then have a Situation where there is not much working against your trade(S/R, Pivotzones,Big round numbers) then thats a good location.

PS : Can you see now what my Problem with the Bad Location Bar is?
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  • #4,699
  • Nov 14, 2012 12:00pm Nov 14, 2012 12:00pm
This would be Perfect locations for Pinbars. Unfortunately there were none
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  • #4,700
  • Nov 14, 2012 12:54pm Nov 14, 2012 12:54pm
Quoting stockEX
Well so here is what I want to see from these setups. If we are in a general Downtrend like this, then I want to see a downmove (sellers are in controll) then a retracement(buyers get into the market), and then a Pinbar(buyers get shaken off,take profit or get their stops hit).If that happens itīs likely that the downtrend will continue, so I get in.If you then have a Situation where there is not much working against your trade(S/R, Pivotzones,Big round numbers) then thats a good location.

PS : Can you see now what my Problem with the Bad Location...
Not really The only problem I can see is that this PB isn't at the top high. Could you elaborate on it a bit please?
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