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"I know one thing, that I know nothing." Sokrates
EurAnalysis Kindergarten 24 replies
Disliked2 moving averages . Best indicator ever. Hehe, were we talking about it year ago? I think yes. I know MACD "works", it has its logic + people all around the globe use it. Imo it is such usefull indicator, because it is combination of lagging moving average with oscillator. But I surely wouldnt trade that "trigger line".
TIgnored
DislikedWhat I am saying is that different technicals point in different directions. You cannot just rely on two or three indicators. If you are trading strictly on technicals, you have to restrict yourself to day trading in H1 and lower time frames and use those technical levels (support/resistance / MAs/ Fibos/ Oscillators) as a means to determine your most optimal entry point in a system of probabilities with the best possible risk/reward ratio.
As for your RSI divergences, yes I agree it looks bullish. My point is that you should not rely on just...Ignored
DislikedThat's where the common mistakes often occur. In my experience, its never the "trigger line."Ignored
DislikedWell not exactly confused, but more of surprised and unable to judge fast. I know precisely why I put my entry where I put it. Why would I put it there otherwise? Right now, well I just got rode over by volkswagon full of hippies. I saw them coming, I almost didnt sleep whole week and was analyzing every word BB said. I was reading all the news and saw all the hype, first everyone saying how Bubbles will fire, than wild wild west shootout between Draghi and Germans, than direct charge by QE supporters all around, and then horrible NFP justifying...Ignored
DislikedSo, here goes. I am still watching Grade 2 cycles now, where this move already appeares to be trend (defined by break of last wave high, beeing 17/06/2012). Momentum analysis confirms that. Those are 180,90,30 day momentums and divergence already appeared on 30 and 90, confirming Grade 2 wave is about to make a correction down. 6 month momentum is still clear sea.
Btw, those numbers aint precise ofc, since *.csv exported from MT4 has some missing numbers (like Saturdays), but as I said, I am working on it. So month should be like 26 days etc....Ignored
Dislikeddepends on if you used a smaller TF in relation to a larger TF chart as a trigger. I use a 1M TF as a trigger all the time for larger TF charts. That and with targeting a exact price sometimes in a continuation on a up or down trend.Ignored
DislikedThat certainly is one way. There are many other ways also. You just need to pick and choose what's comfortable. Phanti recently wrote an ebook. Worth reading, imo.Ignored
Disliked..For the below chart did you used the 6M, 3M and 1M dataset seperately for each line graph?Ignored
DislikedEdit: Btw, I dont want to sound like I actually trade divergences, it really is just a supportive tool for me and currently, I am trying to make such a system, which will tell me in what time period divergences occur. Just another idea, I think you already know how I work .
TIgnored
DislikedTom, good work on Excel
For the below chart did you used the 6M, 3M and 1M dataset seperately for each line graph?
Anyways it looks good for my short entry @ 1.2815.Ignored
DislikedThought you shorted at 1.2770 earlier? Only way you could have gotten the 1.2815 short is in the last 10 minutes of trading after 16:50 EST.
Isn't that kind of risky when markets popped in the 45 minutes of trading as if anticipating a gap up on Monday. Plus the fact that equities markets (DOW/S&P) both closed at new yearly highs. They say that you get smelly fingers from trying to pick bottoms, but you also get dirty fingers from trying to pick tops.
Best of luck with it!Ignored
DislikedYes, divergence occurs when price starts consolidating. How do I filter out consolidation from divergence? Huh, really dont understand mate. But I would like to.
But as I said, I dont trade it, it is just support tool. I just want to know on what time frames "the others" see divergence.
TIgnored
DislikedMay I ask what is so special about 3126, that you have decided to plant your Fibo there?
Edit: Rofl 1,3xx? Are you sure? . Click.
Thx,
TIgnored
DislikedMay I ask what is so special about 3126, that you have decided to plant your Fibo there?
Thx,
Edit 4 lagooi: Rofl 1,3xx? Are you sure? . Click.
TIgnored