I am going to post some trades I am making using an interesting divergence indicator to enter then use the trailing stop feature in metatrader to exit after the price moves 200 pips.
We all know that trading with divergence is EASY MONEY.
I am using this indicator which constantly analyzes the peaks on a stochastic RSI indicator and when the divergence is detected it gives me an alert. I then wait until the indicator goes down and touches the 80 rsi when doing a sell or enter a buy when the indicator comes up and touches the 20 line on this indicator. This is an excellent set up I believe.
When you get divergence from this indicator on a 1 hour chart it gives a strong singal to enter a trade. I have found it has about 80% accuracy for entry when you consider both the divergence and the touching of the rsi. The first trade I did was about 2 trading days ago on the GBPJPY.
It draws the trend lines on the peaks of the indicator in red when they are being compared to price and blue when analyzing the valleys and comparing to price.
Spotted the divergence and the cross of the rsi on the 1 hour chart and took a long position which has not closed yet.
Entry: 196.86
Current price: 200.20
Pip increase: 334
Unrealized profit increase in account: 57%
Unrealized profit in dollars: $ 6719
I posted a screenshot of the metatrader to show you the trade as it has not
yet closed.
We all know that trading with divergence is EASY MONEY.
I am using this indicator which constantly analyzes the peaks on a stochastic RSI indicator and when the divergence is detected it gives me an alert. I then wait until the indicator goes down and touches the 80 rsi when doing a sell or enter a buy when the indicator comes up and touches the 20 line on this indicator. This is an excellent set up I believe.
When you get divergence from this indicator on a 1 hour chart it gives a strong singal to enter a trade. I have found it has about 80% accuracy for entry when you consider both the divergence and the touching of the rsi. The first trade I did was about 2 trading days ago on the GBPJPY.
It draws the trend lines on the peaks of the indicator in red when they are being compared to price and blue when analyzing the valleys and comparing to price.
Spotted the divergence and the cross of the rsi on the 1 hour chart and took a long position which has not closed yet.
Entry: 196.86
Current price: 200.20
Pip increase: 334
Unrealized profit increase in account: 57%
Unrealized profit in dollars: $ 6719
I posted a screenshot of the metatrader to show you the trade as it has not
yet closed.
Attached Image (click to enlarge)
