Nice trade as soon as I turned on the computer. With trend at bottom off lower BB.
Attached Image (click to enlarge)
hmm.. actually I don't like BB too much.. in any case thank you for the advice....
Here I'm exploring the power of this fast divergence on a relative slow TF like 4H..
The div I've shown is called hidden divergence..
maybe in this chart it is more clear..
I'm testing hidden div too, still relatively new... some good hidden div ones on lower TF last night worked well hmm
- #698
- Jul 20, 2009 9:09am Jul 20, 2009 9:09am
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
Interesting, thanks. Haven't considered much to hold these 15 min trades for days, seems like it would create a lot of variance, but I guess if partial profits are taken, should decrease that. Also u/c had broken through a key resistance area pretty hard, should have considered that I suppose. I just saw asian session approaching, thought that resistance level might be restested, and me be taken out. I like the ideas you are saying, they do seem difficult though.
Curious, what would have made you thought to sell and hold? Or are you [b]always taking...
what does variance exactly mean?
at first, it would be very confusing for a trader to transform a M5/M15 trade into H1, H4 or Daily & up trade.
aside from experience & screen time (if u can monitor trade/chart progression, if u have more free time), It all boils down to flexibility & expectations: a scalper +/- M5/M15 trader usually will not expect his/her trade to last very long (several hours, days etc).
if u are a scalper, u usually expect to take scalping trades & profits/losses.
Yes, the solution is having 2 or more lots/positions or taking partial profits AND knowing the underlying trend.
again this brings me back to my point in my previous posts that "higher TF trading is recommended. lesser stress & bigger profits."
Maybe, what u can do is this &/or take trades based on and directly from H1, H4 & up charts
Decide whether u want to trade purely short TF charts or if u want to incorporate higher TF trading.
Hope this helps
- #699
- Jul 20, 2009 9:15am Jul 20, 2009 9:15am
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
Hello,
Thanks for the previous reply guys,it was very helpfull to me!
Now I have posted EUR/JPY chart. The question is, would you take this trade?
You can se #1 and #2, 1 is not divergence so no trade, 2 is divergence so yes it is trade. I did not take it because I was not sure and want to get confirmation from the experts
Thank you
1 & 2 are tradeable. #2 has a nice long nose. both have bull.div on RSI
if #1 is the small PB above "1", it has a bull.div as shown in lefteye's subsequent post
both PB's nose protruded outside Bolli lower band, plus notice the 131.90- 132 PPZ (based on that chart; see the left side where this area was former resistance)
