not a trend reversal, it means we'll retrace upwards back to 30m 50ema
bullish div target reached
might bounce down from here.
Lilmoe's Trading System and Analysis
- #421
- Dec 2, 2008 6:25am Dec 2, 2008 6:25am
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
bullish div target reached
might bounce down from here.
bullish div target reached
might bounce down from here.
If i may get to know what u are saying,are u confirming that the uptrend might continue?
'Cos i think the divergence shows on the 5m tf will indicate a change in the direction of the market for a while,if am wrong please explain with chart.
Thanks.
- #425
- Dec 2, 2008 8:44am Dec 2, 2008 8:44am
- Joined Apr 2007 | Status: Trader | 1,021 Posts
Failure, is a wonderful teacher!
- #426
- Dec 2, 2008 9:13am Dec 2, 2008 9:13am
- | Joined Jun 2008 | Status: Divergence Seeker | 1,749 Posts
- #429
- Dec 2, 2008 9:35am Dec 2, 2008 9:35am
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
+63 pip Entry on pull back
- #433
- Dec 2, 2008 10:16am Dec 2, 2008 10:16am
there was a bullish Div on m30, it took price straight to THAT div's target which was m30 50ema... but now we're a bit over that and VERY close to 1h 50ema.... we should bounce down from there as there is a bearish HD on the 1h chart now.
Thanks bro,
Took the short on the divergence,lloking good for now.But took it with a small lot though.
- #434
- Dec 2, 2008 10:23am Dec 2, 2008 10:23am
- | Joined Jun 2008 | Status: Divergence Seeker | 1,749 Posts
- #435
- Dec 2, 2008 10:45am Dec 2, 2008 10:45am
- Joined Mar 2008 | Status: Still testing and trading | 1,454 Posts
- #436
- Dec 2, 2008 11:18am Dec 2, 2008 11:18am
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
Hey,
How would you pick a good entry now ? 1hr HD bearish div, would you wait for 30mins Gann at least ?
with a bearish HD on 1h, i went short a bit close to 1h 50ema. no need to wait for m30 gann... just short when price touches 50ema. 38.2 fibo of the last fall held it 50 pips from 1h 50ema, but that's close enough.
anyway, after we bounced from 1h 50ema, we also had a 15m bullish HD, where a good long would be at 15m 50ema. both played nicely, and i'm 55 pips plus on that long and closed 2/3 of the short for 140 pips
it's not like u to ask about such easy setups, what's wrong bro?
sorry i wasn't around, just saw ur question.
with a bearish HD on 1h, i went short a bit close to 1h 50ema. no need to wait for m30 gann... just short when price touches 50ema. 38.2 fibo of the last fall held it 50 pips from 1h 50ema, but that's close enough.
anyway, after we bounced from 1h 50ema, we also had a 15m bullish HD, where a good long would be at 15m 50ema. both played nicely, and i'm 55 pips plus on that long and closed 2/3 of the short for 140 pips
it's not like u to ask about such easy setups, what's wrong bro?
I missed the short above, but I took the long, but I entered on the bounce of the upper TF Gann - I think that's the correct way to do it, isn't it ?? Anyway it was approx the same price as the 15min 50ema anyway.
Just wanna check I'm working it right... Sure I'll get back into it.
- #438
- Dec 2, 2008 12:17pm Dec 2, 2008 12:17pm
- Joined Aug 2007 | Status: The Weather Man | 8,859 Posts
yeah I know mate, I got a little cut-up in yesterdays mess and I think I'm doubting everything I do now...
I missed the short above, but I took the long, but I entered on the bounce of the upper TF Gann - I think that's the correct way to do it, isn't it ?? Anyway it was approx the same price as the 15min 50ema anyway.
Just wanna check I'm working it right... Sure I'll get back into it.
when things get messy on a small TF always look at bigger Tfs
and yes, ur entry was correct, and i hope u took some partial profit
