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Hidden divergence

  • #3,961
  • Jun 14, 2020 7:49am Jun 14, 2020 7:49am
There will be many opportunities for HD pattern trading this week. Here are some other situations developing on the Daily charts:

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Again, we need strong convergence signals before entering trades, but I am optimistic that there will be a few.
  • #3,962
  • Jun 14, 2020 11:34am Jun 14, 2020 11:34am
Here are the trends at the start of the week given by a tool on Investing.com.
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  • #3,963
  • Jun 15, 2020 4:14am Jun 15, 2020 4:14am
Quoting chamane
Here are the trends at the start of the week given by a tool on Investing.com. {image}
I think that to follow those signals we should check fo overbought/oversold situation- important filter..
  • #3,964
  • Jun 15, 2020 6:21am Jun 15, 2020 6:21am
Quoting vitall
{quote} I think that to follow those signals we should check fo overbought/oversold situation- important filter..
It gives an edge. Here is an interesting link on the subject IMO. OB/OS zones can be checked, but I would also verify the resistance/support levels. Knowing the big picture, it helps in our decision. I nevertheless stick to my rules especially if there are many convergence signals. For instance, GBPAUD is in a bearish trend according to the tool (see my previous post), but there were a HD pattern setup indicationg a pullback. Knowing the big picture, I secured the trade at breakeven as soon as I could. In the picture, we can see the clear downtrend and the pullback on the Daily chart and the bullish HD pattern setup of the pullback on the 4HR chart. In my case, my profit level matches a resistance zone.
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  • #3,965
  • Jun 15, 2020 10:21pm Jun 15, 2020 10:21pm
Here is an interesting setup. Bullish Hidden Divergence pattern on the Daily chart during a clear uptrend and Bullish Regular Divergence pattern on the 4HR Timeframe at the same time. On the 4Hr chart, price crossed the trendline upward and so did the MACD with the zero line. This is a winning situation most of the time. If not sure enough, you can switch to the 15 min chart and take all signals during the time MACD is over the zero line on the 4HR timeframe. Right now, a similar setup can be found on many Aussie and Kiwi pairs.
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  • #3,966
  • Jun 15, 2020 10:37pm Jun 15, 2020 10:37pm
Quoting chamane
{quote} It gives an edge. Here is an interesting link on the subject IMO . . .
Chamane, thanks for an interesting link and I would like to ask you about the ROC: is this data taken from the current candle (open) or from the last candle (close)? in your analysis how do you prefer?
Humble & Kalcker CLO2 = Covid killer
  • #3,967
  • Jun 15, 2020 10:59pm Jun 15, 2020 10:59pm
Quoting jusiur
{quote} Chamane, thanks for an interesting link and I would like to ask you about the ROC: is this data taken from the current candle (open) or from the last candle (close)? in your analysis how do you prefer?
Hi jusiur,

The data is taken from the close of the weekly candle. Actually, the strength analysis can be done during the weekend before the markets start off. You can view how it's done in that video.
  • #3,968
  • Jun 15, 2020 11:21pm Jun 15, 2020 11:21pm
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EU H4 looks interesting ...
Whatever is happening right now has happened before and will happen again.
  • #3,969
  • Jun 15, 2020 11:24pm Jun 15, 2020 11:24pm
market shot up right after trump said he's gonna print more money to stimulate the economy.

i dont give much hope for EU go furthur up as Asian market is pretty much 75% negatively corelated to european.

HD after RD. Price pulling up to 618 level. Maybe a good time to short.
Whatever is happening right now has happened before and will happen again.
  • #3,970
  • Jun 15, 2020 11:30pm Jun 15, 2020 11:30pm
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Now we are at weekly resistance level, and currently in the ABC correction with B finished (hopefully if im correct) at 618 level. Looking for reverse pattern in H1 as H4 already gives us HD signal.
Whatever is happening right now has happened before and will happen again.
  • #3,971
  • Jun 15, 2020 11:36pm Jun 15, 2020 11:36pm
Because the wave 3 is 2618 of wave 1, this has been a strong trend up. So the correction might not be as deep as usual to 50%. But if head and shoulder really formed and confirmed, i would at least expect the 382 level. good luck guys.
Whatever is happening right now has happened before and will happen again.
  • #3,972
  • Jun 16, 2020 7:50am Jun 16, 2020 7:50am
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Set up my tiny mini sell grid with stop loss over 1.1350 and went to bed before euro session opened up last night. Now pocketed all profits.
Whatever is happening right now has happened before and will happen again.
  • #3,973
  • Jun 16, 2020 3:54pm Jun 16, 2020 3:54pm
Quoting mnmnmmnnmnmn
{image} Now we are at weekly resistance level, and currently in the ABC correction with B finished (hopefully if im correct) at 618 level. Looking for reverse pattern in H1 as H4 already gives us HD signal.
Nice call mnmnmmnnmnmn. I took advantage of it.
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  • #3,974
  • Jun 16, 2020 7:57pm Jun 16, 2020 7:57pm
Inresting setup to observe as a double bullish HD pattern (Daily and 4HR) is developing. Regular bullish Divergence pattern on the 1HR TF, awaiting for entry signals.
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  • #3,975
  • Jun 17, 2020 11:13pm Jun 17, 2020 11:13pm
Quoting chamane
{quote} Nice call mnmnmmnnmnmn. I took advantage of it. {image}
Chamane,

Hope you have pocketed some profit from the last drop two days ago. Now as we can see on the chart. GU has news tonight and EU will be affected also. I believe on this one your macd will give you the final signal for entry real soon in several hours. We 'll see. You will, I wont cuz I have to sleep. Good luck if you are trading this.

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Whatever is happening right now has happened before and will happen again.
  • #3,976
  • Jun 17, 2020 11:21pm Jun 17, 2020 11:21pm
Same as UJ, still undergo the downtrend. I believe the target will be met in no time.
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Whatever is happening right now has happened before and will happen again.
  • #3,977
  • Jun 17, 2020 11:28pm Jun 17, 2020 11:28pm
I'm bored today. Did some analysis on the majors.

Aussieeee....
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Whatever is happening right now has happened before and will happen again.
  • #3,978
  • Jun 17, 2020 11:30pm Jun 17, 2020 11:30pm
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CAD daily charts shows strong signals. Do not let it go this opportunity. US is still in trouble, Powell said inflation is still so far away.
Whatever is happening right now has happened before and will happen again.
  • #3,979
  • Jun 17, 2020 11:33pm Jun 17, 2020 11:33pm
EU pulling up quick during asian, same trick as a couple of days ago, then slam down during euro session. Nothing new. aaahhhhhhhhhhh.

I finally learned to trade only one pair. EU only! haha not bad actually when you focus just on one target and get good at it.

Chamane, your eyeballs are on so many pairs. Why dont you code yourself an ea, with order triggering on MACD zero line cross. So whenever you see a pattern then throw the EA onto the chart with preset stop losses then walk away. Just a suggestion buddy.
Whatever is happening right now has happened before and will happen again.
  • #3,980
  • Jun 18, 2020 12:45am Jun 18, 2020 12:45am
Quoting mnmnmmnnmnmn
EU pulling up quick during asian, same trick as a couple of days ago, then slam down during euro session. Nothing new. ~~
Seems to have spent most of the week within Mondays range.
Good Trading
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