{quote} I'm not sold on it reversing to the upside right now, maybe it takes another dive for the low? If so, I will get in for at least 10pips
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See when I decide to be conservative this what I get, a missed opportunity. Lucky for me I have Black Ops to play, and I can just sit and wait for another opportunity on another pair or maybe this one.
{quote} See when I decide to be conservative this what I get, a missed opportunity. Lucky for me I have Black Ops to play, and I can just sit and wait for another opportunity on another pair or maybe this one. {image}
When you see structure for divergence it typically means that the trend is going to be changing soon, soon when? Well, it took this particular pair around 2hrs to finally go up after seeing divergence. This is why patience is very important because you want to limit your drawdown and not be exposed to market fluctuations. It sounds much easier on paper than actually trading it live but your entrance would be when a 30min candle or 1hr candle starts to go green in-conjunction with the 5min timeframe if that makes sense, keep your targets logical because you want to increase your chances of having a winning trade.
When you see structure for divergence it typically means that the trend is going to be changing soon, soon when? Well, it took this particular pair around 2hrs to finally go up after seeing divergence. This is why patience is very important because you want to limit your drawdown and not be exposed to market fluctuations. It sounds much easier on paper than actually trading it live but your entrance would be when a 30min candle or 1hr candle starts to go green in-conjunction with the 5min timeframe if that makes sense, keep your targets logical...
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I would also add that when using the indicators like the OSMA, I use that to easily spot Hidden Divergences, when the MACD goes positive and closes above the 0, that typically means the trend is about to change. Just look back at the history of the MACD and it will give you even a better idea when the trend is changing.
{quote} I would also add that when using the indicators like the OSMA, I use that to easily spot Hidden Divergences, when the MACD goes positive and closes above the 0, that typically means the trend is about to change. Just look back at the history of the MACD and it will give you even a better idea when the trend is changing.
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Perfect example, MACD goes positive, trend changes.
MACD (Moving Average Convergence Divergence) is a popular technical analysis tool that helps traders spot trend changes, momentum shifts, and potential reversal points by showing the relationship between two moving averages of a stock's price, revealing trend strength and direction
What this is called is a break of structure followed by a check down = bullish
I also removed the OSMA it is not needed because I do not trade Hidden Divergences too often on the 5min chart.
