Anybody know an easy formula for determining strength of divergence? Hidden bullish on the 1H. Thanks magix, saw it on your chart.
Cable Update (GBPUSD)
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Anybody know an easy formula for determining strength of divergence? Hidden bullish on the 1H. Thanks magix, saw it on your chart.
Attachment
On the other hand I will post my 4H chart in a moment with my projections.
UGHHHHH there I go again taking a stab at long term trading. 
"Keep your eyes on the helpers" - Mr. Rogers
The longer it goes on the farther it falls (in this case). But I am not sure that the OSMA is the right tool to be showing this long of a divergence.
On the other hand I will post my 4H chart in a moment with my projections.
Should work Damon, its an oscillator.
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"Keep your eyes on the helpers" - Mr. Rogers
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I will be the number one Manager.
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"Keep your eyes on the helpers" - Mr. Rogers
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"Keep your eyes on the helpers" - Mr. Rogers
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Be ready us$ Bullish wave, More inf check your DX
Hint:Watch out AUD/NZD/EURO Against us$
so what will be G/B
Hint:Watch out AUD/NZD/EURO Against us$
so what will be G/B
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i already make a divergent indicator also (actually i make it for my college graduation, 
) but after i test it, i fill not satisfied enough...,cos it hard to know where the price will really-really stop and turnaround...and after we see (or some time we just 'imagine') it's too late and the price already gone so far...
btw happy trading dud..., don't confuse with what other person said....
) but after i test it, i fill not satisfied enough...,cos it hard to know where the price will really-really stop and turnaround...and after we see (or some time we just 'imagine') it's too late and the price already gone so far... btw happy trading dud..., don't confuse with what other person said....
I will be the number one Manager.
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round dish bottom on 1 min
hate those when i am short
tell myself 1m is 'noise' and have a coffee
"Keep your eyes on the helpers" - Mr. Rogers
- #194,359
- Jan 19, 2010 5:32pm Jan 19, 2010 5:32pm
- Joined Oct 2007 | Status: I'm on a 10 year plan. | 4,309 Posts
Okay, I will have another attempt at a long term trade.
1st - I have opened up 5 sell limit orders starting at 1.6370 - 1.6410 in 10 pip increments. My stop loss is set at 1.6470. If all 5 trades trigger, my complete risk will be 2% so that is acceptable for me.
My trade is based off the 4HR chart's Bearish Engulfing bar. To me, this is the most bearish bar we have seen on this chart since November 17th. Needless to day I think we are in for one heck of a run down.
If you look at the current chart, we have a large bearish bar, but a rising 5SMA. This shows me classic PA divergence. I am almost expecting to see some more long upper tails before this thing heads down. The multiple limit orders are in case we don't.
My target is 1.5550, though I am not married to it, I will let it play out as long as my nerves will hold up.
My target is the 1.618 fib level of the last move up starting Jan 07, at 1200 GMT.
Here is my chart. Long term trading is my weakness, so any input from others would be great.
Enjoy and Green Pips Everyone
P.S. Scalpled 50 pips the last 3.5 hours on GU, so I will most likely spend most of the rest of the night with my wife, but will check in now and again and most likely make a trade or two.
1st - I have opened up 5 sell limit orders starting at 1.6370 - 1.6410 in 10 pip increments. My stop loss is set at 1.6470. If all 5 trades trigger, my complete risk will be 2% so that is acceptable for me.
My trade is based off the 4HR chart's Bearish Engulfing bar. To me, this is the most bearish bar we have seen on this chart since November 17th. Needless to day I think we are in for one heck of a run down.
If you look at the current chart, we have a large bearish bar, but a rising 5SMA. This shows me classic PA divergence. I am almost expecting to see some more long upper tails before this thing heads down. The multiple limit orders are in case we don't.
My target is 1.5550, though I am not married to it, I will let it play out as long as my nerves will hold up
.My target is the 1.618 fib level of the last move up starting Jan 07, at 1200 GMT.
Here is my chart. Long term trading is my weakness, so any input from others would be great.
Enjoy and Green Pips Everyone
P.S. Scalpled 50 pips the last 3.5 hours on GU, so I will most likely spend most of the rest of the night with my wife, but will check in now and again and most likely make a trade or two.
"Keep your eyes on the helpers" - Mr. Rogers
