Attachments: Trading Divergences...

Trading Divergences...

#1
First Post: Edited 7:59pm Jul 18, 2019 7:17pm | Edited 7:59pm

catuman37350
| Joined Jun 2019 | Status: Trader | 37 Posts

This is very basic...
It is doing with some success for almost 4 years...

PRESET
Look for divergencies... using TF 1h... Indicators are set Open... RSI 10 (highs and lows must be out of range <30,70>), MACD 5,13,1... both must be ok...

ENTERING LONG
When divergencies are present... enter when price goes up previous high... SL last low plus at least twice the spread... TP open but it can be twice the SL in pips... move to BE when 38.2 retracement is reached...

ENTERING LONG
When divergencies are present... enter when price goes down previos low... SL last high plus at least twice the spread... TP open but it can be twice the SL in pips... move to BE when 38.2 retracement is reached...

REENTERING
When trend has been reversed... enter when price touch the EMA 12... SL last high or low depending the direction of new trend... and divergencies aren´t present...
Also can reentering looking at low timeframes...

MONEY MANAGEMENT
Money Management 1-2% risk...

OTHERS...
I will post presets...
Not suitable for high spread...
Unwise to trade around important news...

Attached Image (click to enlarge)