Top and Bottom M5 Trade

If I think I dont want to spend much time I use M 5 TO get in and get out
and if I think some currency can be a traded on a longer term then I look into H1 for a little longer trade

yes divergence i use in whatever time frame I am in

Here are cherry picked examples of what I said in my previous post.

http://i46.tinypic.com/29aruro.jpg

Here is a nice setup. Waiting for the 5min chart to show long signal before entering. I am using ADX(14) as a confirmation tool. Same pattern is occuring with NZDUSD right now as it is closely correlated to AUDUSD.

http://i46.tinypic.com/w8x56o.jpg

I closed the EU Trade 1.3544 tp 1.3588 Trade still going strong

Refer my yesterdays post of EU and GU at 24 pip running post 46

Can you please post the ADX_Adv indicator? I like it.

TY

I made only +6 pips on my last trade, I entered too late on it. This is another setup that should be nice. Classical divergence on the OSMA and hidden divergence on the MACD lines. Waiting for the 5min signal to short.

http://i49.tinypic.com/23lxpjn.jpg

This one paid off, but I was not there to enter it. Anyway, I am more watching than trading for real right now. The only hesitation I would have had is that ADX was under 20 when the signal appeared.

http://i47.tinypic.com/neyk2s.jpg

Thank you for the indicator.

Here is why I think it is important to wait for the cross of a trend line or support/resistance after divergence. An entry at the vertical line would have been stopped out. Also ADX seems to be useful to confirm the signal.

http://i46.tinypic.com/33elweg.jpg

Good Point

I am attaching the EJ H1 CHART where you marked the vertical line and then I flipped to M 5 CHART and you can see the MACD bars how it is

Took long on GJ SL BE +10 PIP from M 5 CHART

Here is a nice trade for +20 pips on a 5 min chart. I could have entered after the break of the trendline, but decided to wait for the break of resistance.

http://i45.tinypic.com/28kpqio.jpg

EU is giving many trades up down

Took one short for 40 pip in EU and GJ long out for 15 pip

EU short as per chart

Raising Price decling MACD +25 PIP

Placed another short at 1.3619 . EU was not able to break the TL
drawn this morning and MACD was weak.

harigp,

I'm trying to figure out what are your entry points. If I understand correctly, you entered (2nd green arrow - 1.3619) once you realized price did not go beyond the trendline? What would be your SL and TP levels then? I personally would have waited for a confirmation of the the MACD line cross or ADX short or even GANN HiLo (10). For stop loss, last swing high and profit at the 61.8 Fib level. What do you think?

I am more looking for divergence before entering any signal like 1rst green arrow with confirmation from ADX and GANN.

Thanks

http://i46.tinypic.com/2dqvb09.jpg

The entry was pureley looking at the MACD bars in M 5 and also IN H 1
eventhough the MACD was above zero line i noticed decline in bars. I keep in my thoughts always the PA Vs MACD bars .

PA GOING up but MACD bars H1 shows decline I look for rally in M5 to short by looking into TL and the MACD cross over indicator

PA going down but MACD bars HI shows up trend I look for dip in M 5 to
go long

I also draw HORIZONTEL LINES in M 5 to know the previouse high and Low

Except the crazy move some time back the overall trend was bearish to short eu

The current move up also I expected because 1.3550 is strong support and my short was closed little above that price.

My SL was 1.3650

Here is another trade I took. I closed at half my profit target because MACD was crossing for short and price and volume were kind of slowing down. I waited for divergence on a higher timeframe (30 min) and then for price closing in a long Gann signal. I put a vertical line on the next openig bar and switch to 5 min chart and wait for a new long signal after a retracement. Good for +17 pips.


http://i45.tinypic.com/dvivmh.jpg

See the attached chart I just picked one currencey pair EUgbp

I marked in M 5 in vertical line from Asia till new york open the activities. The bulls pushed up the price even during some part of new york and the MACD reading shows decline. you are ready to short but at
what level draw a horizontel line on the last up move and see whether the price is going to cross the horizontel line if no you can short the next canlde after the pin bar if available or next closed bear candle