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  • #15,061
  • Mar 2, 2010 1:17pm Mar 2, 2010 1:17pm
closed my short @ 88.60... took a small long @ 88.65 on 4hr rsi divergence. Looking for 89.10, stop @ 88.40. Good trades to all!!!

Regards,
  • #15,062
  • Mar 2, 2010 1:19pm Mar 2, 2010 1:19pm
Quoting FX-Petra
closed my short @ 88.60... took a small long @ 88.65 on 4hr rsi divergence. Looking for 89.10, stop @ 88.40. Good trades to all!!!

Regards,
can you provide a chart so I can see what you're talking about?
  • #15,063
  • Mar 2, 2010 1:32pm Mar 2, 2010 1:32pm
Quoting sed34
can you provide a chart so I can see what you're talking about?
On my phone, can't attach a chart. 4hr has nice rsi divergence, so I took the trade.
  • #15,064
  • Mar 2, 2010 1:39pm Mar 2, 2010 1:39pm
Quoting FX-Petra
On my phone, can't attach a chart. 4hr has nice rsi divergence, so I took the trade.
I think this is what he is talking about, see chart below.

I've been shorting the US session, and made a little scalp on the long side when it hit 88.58, already closed for a tiny profit.

Went ahead and opened another short though at 88.71, b/c of how it broke out of the range, to me this looks like a small bounce before retesting ~88.60. I could be wrong, time will tell. I can see the case for both bulls and bears here, depends on your TF.
Attached Image (click to enlarge)
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  • #15,065
  • Mar 2, 2010 1:42pm Mar 2, 2010 1:42pm
Quoting Kas1
trail stop triggered, locked in profit now
...hit my target at 8867, short again from 8870, 8810 target
  • #15,066
  • Mar 2, 2010 9:27pm Mar 2, 2010 9:27pm
Still holding my long @ 88.65. Almost stopped out on the dip. Took another lot @ 88.50 and closed @ 88.70 for some profit. 4hr rsi divergence is still there... so hoping for a bounce to 89.10. We will see!!!

Regards,
  • #15,067
  • Mar 2, 2010 9:52pm Mar 2, 2010 9:52pm
I'd like to go long, but is this a confirmed head/shoulders pattern?

thanks
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  • #15,068
  • Mar 2, 2010 10:29pm Mar 2, 2010 10:29pm
There is a doji on both H1 and H4 timeframe. May be retrace back to 89.00 area?
  • #15,069
  • Mar 3, 2010 12:21am Mar 3, 2010 12:21am
Maybe a bit more up?
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  • #15,070
  • Mar 3, 2010 12:42am Mar 3, 2010 12:42am
Quoting BudFox
I think this is what he is talking about, see chart below.
theory: for divergence, it should be price low versus oscillator low ... u had drawn peak versus low ... a bit confused here .. or is this the hidden version ...?

please correct me.
  • #15,071
  • Mar 3, 2010 12:57am Mar 3, 2010 12:57am
Quoting TheArcher
theory: for divergence, it should be price low versus oscillator low ... u had drawn peak versus low ... a bit confused here .. or is this the hidden version ...?

please correct me.
From Ivestopedia: In TA divergence is considered either positive or negative, both of which are signals of major shifts in the direction of the price. Positive divergence occurs when the price of a security makes a new low while the indicator starts to climb upward. Negative divergence happens when the price of the security makes a new high, but the indicator fails to do the same and instead closes lower than the previous high.

I don't have it drawn quite right, but if you know what to look for it is there. At least i think, hope this doesn't kill my internet credibility.
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  • #15,072
  • Mar 3, 2010 2:54am Mar 3, 2010 2:54am
Well Im still long on both JPY vs GBP and USD

tp 91.16 and 138.07 and keeping this positions open will also generate rollover interest.

also shorting euro and AUD TP on euro= 1.3152
AUD target =.08652
  • #15,073
  • Mar 3, 2010 3:30am Mar 3, 2010 3:30am
Quoting BudFox

Positive divergence occurs when the price of a security makes a new low while the indicator starts to climb upward.
please fret not ... we are all learning new things everyday ... just wanted to highlight that u got ur definition/salients point correct .

maybe this will help ... http://www.babypips.com/school/divergence_trading.html

Positive divergence occurs when the price of a security makes a new low while the indicator starts to climb upward. : in other words , the lows of the indicator makes a higher lows

  • #15,074
  • Mar 3, 2010 3:44am Mar 3, 2010 3:44am
Note the change of approach towards JPY excchange rate by the new elected goverment in Japan. Initially they verbally interweened, what now? no action, what does this tell you?
  • #15,075
  • Mar 3, 2010 9:42am Mar 3, 2010 9:42am
Quoting notoSCUM
Note the change of approach towards JPY excchange rate by the new elected goverment in Japan. Initially they verbally interweened, what now? no action, what does this tell you?
what ?

  • #15,076
  • Mar 3, 2010 9:51am Mar 3, 2010 9:51am
closed my 88.65 short on that last little spike up, @ 88.80. Still think we should get some kind of rebound... will rebuy @ 88.50 1 lot with a stop-reverse @ 88.40. This may have to drop to 87.30 before we get a big rebound. Good trades to all.....
  • #15,077
  • Mar 3, 2010 3:57pm Mar 3, 2010 3:57pm
Quoting Kas1
...hit my target at 8867, short again from 8870, 8810 target
Still in from 8870, no trail yet...took another short at 8845, 8790 target
  • #15,078
  • Mar 3, 2010 5:50pm Mar 3, 2010 5:50pm
Quoting Kas1
Still in from 8870, no trail yet...took another short at 8845, 8790 target

Mind sharing why you think 8790?

Keep in mind this is for the immediate term.
I've been short since yesterday afternoon, sort of looks like a bear flag forming on 15m, I'll be confident in staying a bear as long as we dont break 8870ish, would like to ride this down to 88ish area, looks like it is near the top of its channel right now (can't post a chart right now).
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  • #15,079
  • Mar 3, 2010 6:38pm Mar 3, 2010 6:38pm
Quoting BudFox
Mind sharing why you think 8790?

Keep in mind this is for the immediate term.
I've been short since yesterday afternoon, sort of looks like a bear flag forming on 15m, I'll be confident in staying a bear as long as we dont break 8870ish, would like to ride this down to 88ish area, looks like it is near the top of its channel right now (can't post a chart right now).
...price had closed to a new low for the week with good deviation/increase in candle body and high/low range...8790 was the 4hr pivot extension I was looking at, based on my rules...don't think it could make it further then that for my timeframe...if it gets just above 50% in profit, I will trail...
  • #15,080
  • Mar 3, 2010 6:49pm Mar 3, 2010 6:49pm
Quoting Kas1
...price had closed to a new low for the week with good deviation/increase in candle body and high/low range...8790 was the 4hr pivot extension I was looking at, based on my rules...don't think it could make it further then that for my timeframe...if it gets just above 50% in profit, I will trail...
makes sense, thanks for answering.
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