Dislikedmeh... maybe 50% of the time. It can also mislead you the other 50% of the times you use it.Ignored
may cause errors also with the rules of jim?
james16 Chart Thread
- #64,704
- May 25, 2010 2:09am May 25, 2010 2:09am
- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
just a small correction:
it's a regular bearish div, not hidden div.
novice198 said it, but u did not 'copy-paste' correctly
Yes, LoL
I always mistake Hidden and Regular Div.
- #64,706
- May 25, 2010 2:33am May 25, 2010 2:33am
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
Jonnyislost,
nice BEOB off a round number too (0.6700)
nice BEOB off a round number too (0.6700)
- #64,707
- May 25, 2010 2:37am May 25, 2010 2:37am
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
Jonnyislost,
nice BEOB off a round number too (0.6700)
Has a lot going for it but I could never justify trading into this mess (the yellow square) no matter how good the setup. Looks like a trouble area every few pips!
Also I was sleeping when this showed up
- #64,709
- May 25, 2010 2:53am May 25, 2010 2:53am
divergence is a very strong indication that price will retrace...it doesnt tell you when it will retrace or how far...but thats what price aciton and PPZ's are for!
UCHF 1HR with RSI (6) is a classic textbook example of divergence.
It is a useful additional confluence tool when taking trades against the trend i.e. PA @ swing high etc + divergence etc.
- #64,711
- May 25, 2010 3:03am May 25, 2010 3:03am
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
also, he marked a PPZ (1.1590ish) which price was heading into.
if anyone would take it short/sell, it's better to place an order below that PPZ (to avoid a 'hump/mini-roadblock in the road')
divergence does not necessarily entail a reversal. sometimes, it just means 'temporary decrease in trend strength'
in this $chf chart, uptrend is strong. since the BEOB did not break, & price in fact went above the BEOB, this tells us up trend is still in play.
- #64,712
- May 25, 2010 3:07am May 25, 2010 3:07am
SC, not necessarily comment on these facial expression, just was kidding,no offence there
in fairness to him (lovejoy80), that BEOB has not broken, so technically there was no trade.
also, he marked a PPZ (1.1590ish) which price was heading into.
if anyone would take it short/sell, it's better to place an order below that PPZ (to avoid a 'hump/mini-roadblock in the road')
divergence does not necessarily entail a reversal. sometimes, it just means 'temporary decrease in trend strength'
in this $chf chart, uptrend is strong. since the BEOB did not break, & price in fact went above the BEOB, this tells us up trend is still in play....
- #64,715
- May 25, 2010 3:10am May 25, 2010 3:10am
- | Commercial User | Joined Feb 2008 | 4,633 Posts
in fairness to him (lovejoy80), that BEOB has not broken, so technically there was no trade.
also, he marked a PPZ (1.1590ish) which price was heading into.
if anyone would take it short/sell, it's better to place an order below that PPZ (to avoid a 'hump/mini-roadblock in the road')
divergence does not necessarily entail a reversal. sometimes, it just means 'temporary decrease in trend strength'
in this $chf chart, uptrend is strong. since the BEOB did not break, & price in fact went above the BEOB, this tells us up trend is still...
I wasn't looking @ PA...I was showing that we had divergence and price retraced...where did it retrace to...exactly where you'd expect it to retrace to the PPZ and also a breakout and pullback scenario too.
Your sentence in bold was what I was trying to get across...you can expect a a decrease in trend strenght which often means a slight retracement (could obviously led onto a full blown reversal) but divergence doesnt tell you when and how much price is going to retrace, just that it is likely that we will have a pause / retrace in the current trend.
- #64,717
- May 25, 2010 3:12am May 25, 2010 3:12am
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
SC, not necessarily comment on these facial expression, just was kidding,no offence there
no problem Sir
- #64,718
- May 25, 2010 3:13am May 25, 2010 3:13am
- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
In the meantime I missed this USD/CAD DBLHC..
Still, I am starting to notice I even missed them., must be a tiny bit of progress.
Still, I am starting to notice I even missed them., must be a tiny bit of progress.
