Dislikedaussie had a nice run to attempt parity but alas it fell short ~~
"remember in my room Raz I said" .Ignored
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Dislikedaussie had a nice run to attempt parity but alas it fell short ~~
"remember in my room Raz I said" .Ignored
DislikedHey guys,
Wow look what happens when Im not watching whats going on in here...I can see we have every opinion available direction-wise, time will tell who is right or wrong, Im not convinced either way for now. Im looking at my charts and they say down, it doesnt make a lot of sense (US economy = bucket of shit) but thats what they say...so Im standing aside for now. Tom youre a clever guy you said a lot of things (often right) in a short period of time, so I respect your opinion. Still, among other things its August, and we saw an all-time high in aussie and eur less than three weeks ago do you think this (long term) uptrend is able to turn around completely in such a short time? Im not convinced yet. Frankly I dont really care one way or other, but I will not be buying aussie again unless I have a confirmation on 4hr+ tf that things are moving up again. For me that means we must be making higher highs and higher lows.
And for gods sake LIGHTEN UP out there, man you guys need a holiday ....take care, RazIgnored
DislikedHi Razl,
in this case, the bullish hidden divergence would be if the price makes a higher low vs the oscillator making a lower low between the same two points on the chart. As you can see we don't quite have the condition yet (because stoch hasn't turned and we don't know if price has bottomed out already), but the stoch is already lower than it was in January, even though price isn't - so I'm keeping an eye on it.
PS - Personally I think divergence is the best way to use oscillators; I don't use it by itself as an entry signal but as an early warning sign it proves to be very accurate, especially when you use it on a higher time frame.Ignored
DislikedI am not saying it will drop straight down but we will see 8500 area before we ever see the 9500 again. Every count and every chart I look at says the same thing, I have tried to find an alternative count taking it back up but there just isnt one I can find at this point.Ignored
DislikedThanks PP,
why did I always use it the other way around, I always thought that if the indicator showed the opposite to price it was an indication that price would follow the indicator...so if we drew a trendline on price we would have an uptrend but on the indicator it was a downward trendline, it meant price would drop...in any case now for confirmation you are looking for a higher low on a higher timeframe is that right? Vs a lower low on the indicator? Thankyou will have a closer look...RazIgnored
DislikedThanks PP,
why did I always use it the other way around, I always thought that if the indicator showed the opposite to price it was an indication that price would follow the indicator...so if we drew a trendline on price we would have an uptrend but on the indicator it was a downward trendline, it meant price would drop...in any case now for confirmation you are looking for a higher low on a higher timeframe is that right? Vs a lower low on the indicator? Thankyou will have a closer look...RazIgnored
DislikedHi Raz,
You were thinking of regular Divergence which signals a reversal, whereas Hidden Divergence signals a continuation. Hidden divergence is stronger than regular.
Regular Hidden
Price LL /HH HL/LH
Indicator HL/LH LL/HH
The reasoning for the Hidden divergence is particularly convincing if the indicator is in Over bought/sold territory: So in an up trend, price has made a higher low (says up-trend continue, yes), whilst indicator (oscillator) has made a lower low ( more oversold so up, yes).
In a downtrend, price makes a lower high whilst indicator signals more overbought.
I hope this helps,
IanIgnored
DislikedI'm no Raz but I think I'll answer this one for her if she's still busy shopping for those Jimmy Choo's?
See, she loves to sail. She has this beautiful yacht Aussie. When there is wind, she points the boat into the wind. Then she hoists the mainsail and raises the jib. She turns the boat left and right to adjust the angle, until finally the wind is at her back, then she just runs with the wind. When the wind starts to die out, she anchors and goes tanning. When the weather gets bad, she docks and goes shopping. She doesn't sail when it's bad out there, it's very dangerous!
Darn, Raz, when are you going to finally get those sassy jeans!
Have a good weekend!Ignored
DislikedYes that's right, it must be higher low (price) vs lower low (stoch) otherwise it doesn't count. And what you described before is regular divergence; hidden divergence just works the other way around.
Here is the divergence cheat sheet I keep handy for when I need a reminder.Ignored
DislikedYeah, I also find that when sailing along nicely with the wind behind me and I try changing direction, The large boom swings across and tries to smack me around the ears if I am not careful!
Ignored
DislikedThanks PP Motu and everyone nice contributions, I will definitely print up those examples for sure...exactly what we need when we are sitting on our hands waiting for these corrections (? Can we call them corrections when they last so long haha) to end...take care all RazIgnored
DislikedI am not saying it will drop straight down but we will see 8500 area before we ever see the 9500 again. Every count and every chart I look at says the same thing, I have tried to find an alternative count taking it back up but there just isnt one I can find at this point.Ignored
DislikedWith RBA hinting rate cuts and USD strengthening with potential rate increases, AUDUSD might be toast. No idea how low it can drop. It may never come back up again. Your thoughts?Ignored