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How Wags Trades - TAS System

  • #241
  • Jun 27, 2020 12:51pm Jun 27, 2020 12:51pm
Another one for NZDCAD, is this valid entry? There is hidden bearish divergence on Price and OBV Rule 2 (Short term divergence)
Also rule 5, Price to OBV showing divergence between MA's. Rule 6 probably comply as well and seems price react off Big round number, which in this case is 8800.
Saying that longer term trend is up, so probably should be looking for Buy rather than sell, which again i am aware of but apart from that does this fit our strategy?
Attached Image (click to enlarge)
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  • #242
  • Jun 27, 2020 2:07pm Jun 27, 2020 2:07pm
Hey Paul,

so how do you decide your stoploss and tp? I know you mentioned in post 1 that you set SL to 100 but is that always the case? How do you use ATR in this case then? Can you give an example of your trade management using ATR. Let’s say the pair is USDCAD and the average daily range is 75 pips. Do you still set your SL to 100 and tp is always 2:1 so 200 pips (as you said in your first post) is this how you would enter given that the entry conditions are there?
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  • #243
  • Jun 28, 2020 8:30am Jun 28, 2020 8:30am
Hey Paul
Apology for bombarding with few post since yesterday but just getting in to this strategy, so waiting for your comment. I am sure i haven't got all right, so posting few example to understand different scenario from your feedback whenever you get time.
EURUSD long term trend up, short term in downward consolidation.
Looking for just Buy signal.
currently on H2, hidden bullish divergence and also Price below MA while OBV above MA.
Is this valid setup with entry around 1.12 (which is rejected couple of time already, target as 1.1400 and SL as 1.1150 (below previous low swing)
Attached Image (click to enlarge)
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  • #244
  • Jun 28, 2020 8:54am Jun 28, 2020 8:54am
Quoting tiestobob
Hey Paul, so how do you decide your stoploss and tp? I know you mentioned in post 1 that you set SL to 100 but is that always the case? How do you use ATR in this case then? Can you give an example of your trade management using ATR. Let’s say the pair is USDCAD and the average daily range is 75 pips. Do you still set your SL to 100 and tp is always 2:1 so 200 pips (as you said in your first post) is this how you would enter given that the entry conditions are there?

Hi Bob

I do not use fixed SL of 100 pips , i showed an example in section 2 of the first post but here is a rough example of how i use ATR of H1 candle for my SL and TS

ATR of 10 to 15 = 50 pips

ATR of 15 to 25 = 75 pips

ATR of 25 to 35 = 100 pips
  • #245
  • Jun 28, 2020 8:55am Jun 28, 2020 8:55am
Quoting Thakkx
Hey Paul Apology for bombarding with few post since yesterday but just getting in to this strategy, so waiting for your comment. I am sure i haven't got all right, so posting few example to understand different scenario from your feedback whenever you get time. EURUSD long term trend up, short term in downward consolidation. Looking for just Buy signal. currently on H2, hidden bullish divergence and also Price below MA while OBV above MA. Is this valid setup with entry around 1.12 (which is rejected couple of time already, target as 1.1400 and SL...
He said he doesn't apply this strategy to hidden divergences. Just regular divergences.
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  • #246
  • Jun 28, 2020 9:20am Jun 28, 2020 9:20am
Quoting tiestobob
{quote} He said he doesn't apply this strategy to hidden divergences. Just regular divergences.
Isnt their regular divergence as well as price is downtrend, making LL and OBV is uptrend, making HL. Still Newbie, so not sure why i mentioned hidden and not regular divergence
  • #247
  • Jun 28, 2020 9:21am Jun 28, 2020 9:21am
Quoting Thakkx
Hey Paul Apology for bombarding with few post since yesterday but just getting in to this strategy, so waiting for your comment. I am sure i haven't got all right, so posting few example to understand different scenario from your feedback whenever you get time. EURUSD long term trend up, short term in downward consolidation. Looking for just Buy signal. currently on H2, hidden bullish divergence and also Price below MA while OBV above MA. Is this valid setup with entry around 1.12 (which is rejected couple of time already, target as 1.1400 and SL...

Hi Thak

Rather than go through everyones individual setups i will post again what i like to see when entering a trade, i will only use a selling example but obviously it will be vice versa for buying

Seperate window long term below, the two rectangles show the zoomed out example of how it should look leading up to a trade

See below how all MA's and OBV are showing complete agreement with no real retracement of the OBV 50 ema back towards the OBV 200 MA's

Attached Image (click to enlarge)
Click to Enlarge Name: euraud-h1-oanda-division7.png Size: 55 KB


Next i have added two rectangles on price where there is divergence in price to OBV and there is great value to sell

Attached Image (click to enlarge)
Click to Enlarge Name: euraud-h1-oanda-division7-2.png Size: 56 KB


Its as simple as that, there are more smaller trades to be had on the screen but this is the basic strategy, combine it with price rejection off the RN's etc

This is how i like to trade this straegy, of course others may be able to use it in a different manner and make pips but thats up to them

I did notice that on your H4 screen that was strong downward trend and looking at higher TF is something i like to also use in combination with H1 entry for but not an essential for all my entries
  • #248
  • Jun 28, 2020 9:24am Jun 28, 2020 9:24am
Quoting Thakkx
{quote} Isnt their regular divergence as well as price is downtrend, making LL and OBV is uptrend, making HL. Still Newbie, so not sure why i mentioned hidden and not regular divergence

I should correct what i said a few days ago about hidden divergence, I do not use hidden divergence for entry if there is no Divergence but i do use it to help confirm entries but not on its own for entry
  • #249
  • Jun 28, 2020 9:28am Jun 28, 2020 9:28am
Hey Thak

Take a look how my NJ trade now looks after entry a few days ago, i could see the pattern forming in my head, not saying price cannot turn against me but im using the setup i look for

If this is a start of a new downtrend then i could be in for a lot of pips, if not i will look for a new entry, already at break even so not losing money and closed one trade for tiny profit also

Attached Image (click to enlarge)
Click to Enlarge Name: nzdjpy-h1-oanda-division7.png Size: 68 KB
  • #250
  • Jun 28, 2020 9:43am Jun 28, 2020 9:43am
a good entry setup

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 126 KB


Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 143 KB
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  • #251
  • Jun 28, 2020 9:56am Jun 28, 2020 9:56am
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 130 KB
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  • #252
  • Jun 28, 2020 12:45pm Jun 28, 2020 12:45pm
Quoting Wags
{quote} Hi Thak Rather than go through everyones individual setups i will post again what i like to see when entering a trade, i will only use a selling example but obviously it will be vice versa for buying Seperate window long term below, the two rectangles show the zoomed out example of how it should look leading up to a trade See below how all MA's and OBV are showing complete agreement with no real retracement of the OBV 50 ema back towards the OBV 200 MA's {image} Next i have added two rectangles on price where there is divergence in price...
Okay so the first and foremost rule for this strategy to enter the trade is Price verses OBV against the Moving Averages. Rule 5 on this post
Local and Hidden Divergence along with Round Number Price Reaction are just for confirmation and not use in isolation for entering the trade, right?
  • #253
  • Jun 28, 2020 12:56pm Jun 28, 2020 12:56pm
Quoting Thakkx
{quote} Okay so the first and foremost rule for this strategy to enter the trade is Price verses OBV against the Moving Averages. Rule 5 on this post Local and Hidden Divergence along with Round Number Price Reaction are just for confirmation and not use in isolation for entering the trade, right?

your trying to hard, trade it on demo and learn by your mistakes, everything you need is already on this thread
  • #254
  • Jun 29, 2020 4:40am Jun 29, 2020 4:40am
Hi Paul
Thanks for the great system.Just sharing if it is ok with you.Started trading live from Friday on 5/15 mins time frame.Took 1 trade on UC +18 on Friday. 4 trades today 3 winners 1BE. Result so far is very encouraging. Traded EA, GJ & G C. I only took trade when OBV crossed 50ema follow by a retest.
Attached Image(s) (click to enlarge)
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  • #255
  • Jun 29, 2020 4:47am Jun 29, 2020 4:47am
Good Morning from UK

Added another entry to NJ

Attached Image (click to enlarge)
Click to Enlarge Name: nzdjpy-h1-oanda-division7.png Size: 61 KB
  • #256
  • Jun 29, 2020 5:54am Jun 29, 2020 5:54am
Quoting 10QFX
Hi Paul Thanks for the great system.Just sharing if it is ok with you.Started trading live from Friday on 5/15 mins time frame.Took 1 trade on UC +18 on Friday. 4 trades today 3 winners 1BE. Result so far is very encouraging. Traded EA, GJ & G C. I only took trade when OBV crossed 50ema follow by a retest. {image} {image}

Hey There

Looks interesting and anyone is welcome to show and fork in this strategy, great sucess so far

Just wondering on first image is there any reason you didnt take the trade when it crossed previously with retest? or maybe you did

Cheers Paul
  • #257
  • Jun 29, 2020 7:33am Jun 29, 2020 7:33am
First lost today.-13. Lesson learned trying counter trend trade
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  • #258
  • Jun 29, 2020 7:52am Jun 29, 2020 7:52am
Quoting 10QFX
First lost today.-13. Lesson learned trying counter trend trade {image} {image}

I was just looking at a sell trade for EA on my strat, looks like a possible sell if this candle shows rejection from the area, Higher TF is taken into account with this H1 entry

Attached Image (click to enlarge)
Click to Enlarge Name: euraud-h1-oanda-division7.png Size: 67 KB
  • #259
  • Jun 29, 2020 8:27am Jun 29, 2020 8:27am
Quoting 10QFX
First lost today.-13. Lesson learned trying counter trend trade {image} {image}
M1 and M5 reminds me of my Binary Options days lol, great excitement , not like the Higher TF
  • #260
  • Jun 29, 2020 10:18am Jun 29, 2020 10:18am
NZDUSD worked well,
NZDJPY is a bit slower than rest of NZD pairs
Attached Image (click to enlarge)
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