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  • #441
  • Dec 2, 2008 2:20pm Dec 2, 2008 2:20pm
If we enter trades using divergence on lower tf,what should be our exit point?
I discover divergence don't play long in the lower tf.
Thanks for the response.
  • #442
  • Dec 2, 2008 2:24pm Dec 2, 2008 2:24pm
Quoting hiswords
Lilmoe,
sorry for disturbing you,i want u to please confirm if what i have here is a bullish divergence the 15m chart.
Thanks
it is when MACD is set for 12.26.9, but for 5.34.9

so i would consider that a week classic bullish div. but it still can play out. but what u're actually seeing here is a bullish HD as well.

as long as we don't go lower, this could play out for more upside. and for better confirmation, if we close above m15 gann, we could see 140.55 as a first target, then 142 as a second target.

but i'm worried, however, about this close below 1h gann...
  • #443
  • Dec 2, 2008 2:40pm Dec 2, 2008 2:40pm
Bearish HD on 5min chart, good short of 50ema which is also bounce from UTF Gann
  • #444
  • Dec 2, 2008 2:43pm Dec 2, 2008 2:43pm
Quoting Crispin
Bearish HD on 5min chart, good short of 50ema which is also bounce from UTF Gann
yep, target should be m5 gann... not very rewarding though as a first TP. but i took that trade anyway
  • #445
  • Dec 2, 2008 2:46pm Dec 2, 2008 2:46pm
Quoting lilmoe
yep, target should be m5 gann... not very rewarding though as a first TP. but i took that trade anyway
hehe sweet... What do u make for 30 mins thou, it's showing a bullish HD with a possible invert H&S forming.

If you have 2 TF's showing HD in the opposite direction, I assume the higher TF is always stronger ?

Thanks
  • #446
  • Dec 2, 2008 2:51pm Dec 2, 2008 2:51pm
Quoting lilmoe
it is when MACD is set for 12.26.9, but for 5.34.9

so i would consider that a week classic bullish div. but it still can play out. but what u're actually seeing here is a bullish HD as well.

as long as we don't go lower, this could play out for more upside. and for better confirmation, if we close above m15 gann, we could see 140.55 as a first target, then 142 as a second target.

but i'm worried, however, about this close below 1h gann...

Will u advise to change my macd to 5.34.9?
Or is it this setting that u use on a lower tf
  • #447
  • Dec 2, 2008 2:51pm Dec 2, 2008 2:51pm
Quote
Bearish HD on 5min chart, good short of 50ema which is also bounce from UTF Gann

I dont see the HD? How about a chart, lol, so i can see it. I shorted off the 50ema bounce anyway, closed it out for 40 pips.

Thanks
  • #448
  • Dec 2, 2008 2:52pm Dec 2, 2008 2:52pm
Quoting Crispin
hehe sweet... What do u make for 30 mins thou, it's showing a bullish HD with a possible invert H&S forming.

If you have 2 TF's showing HD in the opposite direction, I assume the higher TF is always stronger ?

Thanks
yes but the lower TF plays out first, and in that case, make ur TPs and SLs minimum.

by the way, target reached for that bearish HD on m5. we just hit m5 gann. i took half off there, rest at b/e easy 40 pips there. hope u got it.

now if we close ABOVE m15 gann, i think we're up for more targets upwards.
  • #449
  • Dec 2, 2008 2:56pm Dec 2, 2008 2:56pm
Quoting Cdawg
I dont see the HD? How about a chart, lol, so i can see it. I shorted off the 50ema bounce anyway, closed it out for 40 pips.

Thanks
Sure, sorry - it's not always easy for me to post charts in the office.
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  • #450
  • Dec 2, 2008 2:59pm Dec 2, 2008 2:59pm
Thanks Crispin, that makes perfect sense to me now
  • #451
  • Dec 2, 2008 2:59pm Dec 2, 2008 2:59pm
Quoting hiswords
Will u advise to change my macd to 5.34.9?
Or is it this setting that u use on a lower tf
this is very much up to u. in the matter of fact, u don't need the same MACD indicator i use at all. if u have an indicator that u prefer, there's no problem in using that, stochastics work as well...

i use that setting myself because i found it a bit more rewarding. but 12.26.9 is a bit "safer" as some would say.
  • #452
  • Dec 2, 2008 3:00pm Dec 2, 2008 3:00pm
Quoting lilmoe
yes but the lower TF plays out first, and in that case, make ur TPs and SLs minimum.

by the way, target reached for that bearish HD on m5. we just hit m5 gann. i took half off there, rest at b/e easy 40 pips there. hope u got it.

now if we close ABOVE m15 gann, i think we're up for more targets upwards.
Yep, I got the 40 too..

Close above 15mins Gann ? I guess your seeing the bullish HD there same as 30 mins..


So, question - in this case when we have bullish HD and we don't have a higher TF Gann to bounce off - it's best to wait a close above that TF's Gann/50ema ( 15mins in this case right now ) ??

cheers buddy

Edit... sorry I guess we bounce the "lower" TF Gann as it's the reverse
  • #453
  • Dec 2, 2008 3:21pm Dec 2, 2008 3:21pm
Quoting Crispin
So, question - in this case when we have bullish HD and we don't have a higher TF Gann to bounce off - it's best to wait a close above that TF's Gann/50ema ( 15mins in this case right now ) ??

reverse
well, those are very rare cases, and when we do here are the possibilities.

1) 50% - 61.8 fibo
2) if we missed that or got stopped out for any reason here are some other resorts:

a) if it forms a double bottom (in the case of bullish HD) we take the trade again with minimum stop loss
b) we wait for the lower TF to close above gann AND 50ema

3) the targets would be a bit different (double bottoms are an exception). and in the case of a bullish HD it's called a 1-2-3 (or abcd) buy setup. and sell setup for a bearish HD of course. possible targets are:

1) FE 61.8
2) FE 100.

do u know how to place FEs on your chart?
  • #454
  • Dec 2, 2008 3:26pm Dec 2, 2008 3:26pm
Quote
So, question - in this case when we have bullish HD and we don't have a higher TF Gann to bounce off - it's best to wait a close above that TF's Gann/50ema ( 15mins in this case right now ) ??

I was thinking all the same idea, the HD on the 30 min, PA is above the 5SMA, and a bit below the Gann & 50ema, and ofc the daily pivot is a ways off and the CCI is round 0

On the 15 TF, its just crossing the 50EMA. and above Gann & 5sma, CCI is again round 0.

So under these conditions, neither set of conditions for the two sets of rules are met. So would you let it play out and just wait till all the conditions are met?
  • #455
  • Dec 2, 2008 3:26pm Dec 2, 2008 3:26pm
Quoting lilmoe
well, those are very rare cases, and when we do here are the possibilities.

b) we wait for the lower TF to close above gann AND 50ema

do u know how to place FEs on your chart?
So in this case now where we have the 30 mins bullish HD, yep I see that close above 15mins Gann and 50 ema make sense.

Not really tried FE's, just the usualy fib pulling
  • #456
  • Dec 2, 2008 3:27pm Dec 2, 2008 3:27pm
Quoting lilmoe
well, those are very rare cases, and when we do here are the possibilities.

1) 50% - 61.8 fibo
2) if we missed that or got stopped out for any reason here are some other resorts:

a) if it forms a double bottom (in the case of bullish HD) we take the trade again with minimum stop loss
b) we wait for the lower TF to close above gann AND 50ema

3) the targets would be a bit different (double bottoms are an exception). and in the case of a bullish HD it's called a 1-2-3 (or abcd) buy setup. and sell setup for a bearish HD of course....
here's a chart showing the FE setup:
we also have a broken trendline (green), do u see it?

again, we have a bullish HD on m30, we didn't have a 50ema to go long at, nor a higher TF gann.. so it means we need a close below the lower TF gann (m15 in this case), and better a close above 50ema of that lower TF. we also look for a breakout, and in this case we do have a breakout of the green TL. but still it's better to wait for a m15 close above 50ema.

this will render a buy setup with FEs placed as shown in the chart

hope that makes sense bro.

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  • #457
  • Dec 2, 2008 3:28pm Dec 2, 2008 3:28pm
Quoting Crispin
So in this case now where we have the 30 mins bullish HD, yep I see that close above 15mins Gann and 50 ema make sense.

Not really tried FE's, just the usualy fib pulling
FE's with hidden divergence are VERY powerful. gives u a very good idea where price is heading.
  • #458
  • Dec 2, 2008 3:29pm Dec 2, 2008 3:29pm
Quoting Cdawg
I was thinking all the same idea, the HD on the 30 min, PA is above the 5SMA, and a bit below the Gann & 50ema, and ofc the daily pivot is a ways off and the CCI is round 0

On the 15 TF, its just crossing the 50EMA. and above Gann & 5sma, CCI is again round 0.

So under these conditions, neither set of conditions for the two sets of rules are met. So would you let it play out and just wait till all the conditions are met?
Yeah definately need to wait for the close above 15mins 50ema to be sure.

But for me at this time of night, markets are slow and I don't usually like to trade much
  • #459
  • Edited 3:46pm Dec 2, 2008 3:30pm | Edited 3:46pm
Does anyone think long position on gj 5m tf is valid?

Ouch!!!!!!
too much breaking and retracing on the 5m tf,it closed above gann and even 50ma and every other conditions tallying,but it went down so soon
Lilmoe,i think i better stick to 15min for entrance and use 5min to get my exit positions.
  • #460
  • Dec 2, 2008 3:33pm Dec 2, 2008 3:33pm
Quote
But for me at this time of night, markets are slow and I don't usually like to trade much
Ah, I'm just demo trading right now, trying to get a better grasp on how to trade this way.
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