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- Zelias replied Mar 18, 2019
H1 inference for the shorts was a HD (I've checked it in real time). If you'd missed the entry from the top, you could've added later (the M5 and M1 setup posted). The TPs were either 20 pips (the M5 EMA bump) or 25 pips (ABCD formation) for the ...
- Zelias replied Mar 18, 2019
I'm not the OP, but perhaps we should try and post setups that adhere to the rules explained by Alan in this thread? This way we'll gradually create the same "vocabulary" to trade this system and will develop trust that positions taken by fellow ...
- Zelias replied Mar 18, 2019
To me your buy looks like a very dangerous thing to do - could get lucky for sure, but still... You've got Bear (not Bull) support on M1 and M5, and at the time of your entry the H1 candle was under the H1 Bull support. Just my 2c.
- Zelias replied Mar 5, 2019
Cool, thank you lots!
- Zelias replied Mar 5, 2019
I think I didn't phrase my question correctly. It was not about hedging the hedge (taking profit is perfect), but rather why wait for further confirmation before taking a Long and not take it right after closing the short as the setup was there. ...
- Zelias replied Mar 5, 2019
Hi Alan, I've got a question here: why"Close All" as opposed to going for another Long exactly at the spot where you closed? That was a Bullish RSI divergence (as per my understanding) and our overall bias was Bullish too. RSI was at the extreme on ...
- Zelias replied Mar 5, 2019
... and the M5 Bull support entry, as ordered. image
- Zelias replied Mar 5, 2019
I traded the internal H4 divergence (circled), but it ran at bearish RSI divergence right off the bat so I took profit at the H1 EMA and now waiting for a next signal (perhaps on a retest of the M5 Bull support?). It always seems to get a bit ...
- Zelias replied Mar 1, 2019
Thank you very much indeed, MrMagnet. That's so very kind of you to share! If possible (this is more than we can hope for already), I'd like to second one of the ideas above but with a slight difference - could we perhaps have two types of bullish ...
- Zelias replied Feb 21, 2019
I think I didn't explain myself clearly, so I'll try my best with a picture (usually worth a thousand words lol). image I trade RSI divergences all the time, like the one plotted in "magenta" colour - these are our bread and butter. However, I ...
- Zelias replied Feb 21, 2019
Hi Alan, I've been backtesting 5m alongside H1, so I feel that none my trades were out of context (except when the higher timeframes like H4 and Daily were kicking in, but these are easy to go back to and check on). It's actually the only type of ...
- Zelias replied Feb 21, 2019
You've got to backtest for yourself - I did my backtesting and it turned out these divergences (where price breaks a big pivot but you still look at the origin of the move for the divergence) don't work out profitably in most cases.
- Zelias replied Feb 21, 2019
I don't trust those divergences, so I won't be taking a sell there. Will wait for a better signal.
- Zelias replied Feb 21, 2019
25 pips it is.
- Zelias replied Feb 21, 2019
TP1 hit and 25 pips locked for the Bullish HD EMA divergence. Trailing stops and/or waiting for divergence to show up - whichever comes first... image
- Zelias replied Feb 21, 2019
I didn't see any bullish signals except a sideways bullish support above the EMA, which was negated (at least for me) once it was broken a couple of times. image
- Zelias replied Feb 21, 2019
TP just hit for 50 pips to the pip. image Now there is a potential H1 HD bullish divergence...
- Zelias replied Feb 21, 2019
Here is what I hope is a small contribution to the thread and the way this method is traded in MT4. Over the last week I've tested the below indicator (it's completely Free) to draw horizontal lines (on price, RSIs, EMA swings, etc) hassle-free and ...
- Zelias replied Feb 21, 2019
I was looking at this - HD on 1H and Reg Div on M5: image Trade now to BE (not on MT4 platform) to see if we overcome the M5 Bullish div and the EMA.
- Zelias replied Feb 14, 2019
Thanks, I think I get it a bit better now