Trade I took based off of multiple reasons. Price came back and tested support for the first time, inside candlestick printed, and hidden bullish divergence printed all at the same time!
Divergence and hidden Divergence 122 replies
Extracting Historical Prices but only certain Candle Sticks 0 replies
The Market Explained by candle sticks and price action 124 replies
High's and Lows of Candle Sticks 7 replies
DislikedTrade I took based off of multiple reasons. Price came back and tested support for the first time, inside candlestick printed, and hidden bullish divergence printed all at the same time! {image}Ignored
DislikedHi Piptime and all. I've been using this method for a while now and i must say it great. The problem I've found is that it gets some awkward trades when going against an established trend. The rules don't say a thing about how to manage those kinda scenarios, so piptime, pureprice, everybody, what do we do in situations like that.Ignored
DislikedHi Piptime and all. I've been using this method for a while now and i must say it great. The problem I've found is that it gets some awkward trades when going against an established trend. The rules don't say a thing about how to manage those kinda scenarios, so piptime, pureprice, everybody, what do we do in situations like that.Ignored
DislikedStill no trade presented for us. I imagine price is going continue up to 92.200 area before a small break down. We shall see! {image}Ignored
Disliked.... I know about a veteran trader who learned a lot from his father, a trader also. He says, look for the five "forces" which will bring you the most possible success. TREND, MOMENTUM, S+R levels, Fractals (meant is MTF) check by looking for example in the M15 if a early entry in H1 is developing and the last force is....can`t remember, have to search....maybe whisky for get the balls to get in the trade or something... I will check his name, some pics and all 5 forces for youIgnored
Disliked{quote} I do not think that there is divergence yet on this particular chart. You are drawing the lines from the highs of the candles but I believe that the RSI is based on the close of the candles. On the next chart that you posted the divergence did actually occur as the there was a higher close but the RSI kept going down.Ignored
DislikedHey Wolf, Yes once I see divergence print then I start looking for more reasons to take the trade. Price action (candlesticks), support resist, trend lines, news (if any is coming or just happened). I am a student and continue pursuing knowledge on trading but if someone asked me what to learn to trade divergence I would suggest learning in this order. 1. Support/ Resist 2. Candlestick Analysis (Price Action) 3. Divergence 4. Money Management After you have learned those 4 things I would then suggest demoing for a few months for practice. {image}...Ignored
DislikedPiptime, let us talk a bit about the rsi settings, please. There are many different settings and nobody knows which one is best. I use rsi 5, close because 5 periods are a fib-number (fib is important in timing too), 5 is not too quick and not to slow, but the most important part is the levels. I use 15 and 85 as over S and over B. Very good trades are coming from these levels (any tf) and very, very good trades if you get divergences starting from those levels.Ignored
Disliked{quote} Hey Wolf, I also believe 5 is to fast. I am currently using 10 and have had success with it. In terms of levels I never really thought to trade divergence this way, I know those levels represent overbought/oversold but I like to look at the chart and see where price is at (suppor/resist). Usually when price hits these levels rsi is around 85/15 which adds another reason to take a trade. Wolf thank you for your input, I like to try and learn new things from other traders.Ignored