james16 Chart Thread
Pretty glad I was sleeping when this one showed up as it would have given me a headache.
1 Hour Pinbar with divergence at the big 0.7000
But not a massive bar compared to that recent onslaught of the USD against most pairs
Probably would have passed.. especially as it occured in the Asian session;
i think another analogy is a car moving at a certain speed:
if u step into the gas pedal, the car moves fast(er) {in (bearish) divergence, this is the price first high/lower high; indicator lower high}
if u remove your feet from the pedal, the car still moves/moves fast, but not as fast as when your feet was on the pedal {in (bearish) divergence, this is the price 2nd high/higher high; indicator lower high}
Hello all,
I was recommended to this thread by Geofract. There's certainly a lot to take in. I have recently got into PA after years wasted on the smaller TF's. It's good to find like minded traders looking for the same set ups. I look forward to sharing some ideas with you all in the coming weeks and months.
Nice analogy SC!
I visualize Hidden Divergence as being a similar thing;
1) Price (the car) makes an initial high, for a given amount of gas (the MACD reading)
2) Price Retraces
3) Price makes another attempt at a new high using even more gas (higher MACD reading) but FAILS to make a new high
Eventually gas runs out, and the price/car rolls down the hill
(Image from Babypips)
Let's go over the setup itself. The 1.7400 is not a Big (or Bold) Round Number, just a RN. Not saying that RNs aren't important, they are especailly on this pair. BRNs are the .7500, .7000. .8000, .6500, etc.
The PB's size is a bit small, but showed a good rejection near not at the .7400. Meaning if the PB was bigger and showed a break up and through and then down the .7400 then now we're talking nice. But it was PB at swing High and worked out nicely to its targets. PA is a powerful thing.
The traffic on the setup,...
These PPZ work indeed, lol.
May the force be with you,
