Islander and Medici trade the European open | Page 138 | Forex Factory

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Islander and Medici trade the European open

  • #2,741
  • Sep 1, 2010 9:33am Sep 1, 2010 9:33am
So I turned the Detrend Price Oscillator into a histogram (for fun...I was bored in between trades today)

This is what I saw.

1. The histo picked up these two patterns (and CII did not)
A. The HH--LH reversal from the top down
B. The HL--LL reversal from the bottom up

What I noticed is, 4 extra trades on todays chart using the histo bars as they show OBVIOUS divergence from the price. Here are 2 examples.

I'm thinking of using it with CII to find those specific setups mentioned above. I put notes on the attached image...pretty interesting.
Attached Image (click to enlarge)
Click to Enlarge Name: DPO Div_hmmmm.jpg Size: 164 KB
  • #2,742
  • Sep 1, 2010 10:23am Sep 1, 2010 10:23am
LH made by price

HH made by CII=====Bear Div

10 pip inital stop loss

Closed out @ +18

Exited at the cross of the CII signal line through -20 barrier line on CII indy.

-Darren
Attached Image (click to enlarge)
Click to Enlarge Name: bear div +18.jpg Size: 169 KB
  • #2,743
  • Sep 1, 2010 10:36am Sep 1, 2010 10:36am
Quoting pilotui
LH made by price

HH made by CII=====Bear Div

10 pip inital stop loss

Closed out @ +18

Exited at the cross of the CII signal line through -20 barrier line on CII indy.

-Darren
Very nice
  • #2,744
  • Edited 10:55am Sep 1, 2010 10:45am | Edited 10:55am
Sorry if I'm posting too much, but I'm a little more than excited!

Ok this one was using the DPO histogram like I said, 2 posts back.

Clear Bull Div on DPO that CII didn't get...but the strange thing is the DPO misses the Div the CII does get!?

So again, using DPO for the HL--LL setup +15

UPDATE: If I would have used the same exit as the last trade (breach of CII level 80) I would be +33 right now. This is fun!

Wow!
Attached Image (click to enlarge)
Click to Enlarge Name: Bull Div_DPO_+15.jpg Size: 171 KB
  • #2,745
  • Sep 1, 2010 10:53am Sep 1, 2010 10:53am
Quoting medici
Patience pays, as Darren pointed out, and having the confidence to take the setups. It wasn't my best hour either today, but here are the Euro CI div + BB trades from this morning.

Note how the flat/flattening BBs can be used to both temper impatience and give confidence in the setup - in other words, using flat/almost flat BBs as dynamic S/R levels.
That's some good fib map right there!
  • #2,746
  • Edited 2:01pm Sep 1, 2010 12:00pm | Edited 2:01pm
Quoting pilotui
Also, how often do you see (what I thought was rare...in my 4 days of trading div!) a Div pattern on the 5M and the same pattern at the same time on the 15M or higher TF...that has to be a rare occurrence right? Or just coincidence?

Thanks

Darren
Here's an example. An entry this morning that I failed to notice until later....

Also, check CI divergence and BBs on H4 around medium-term turning points, such as the 1.3334 high in the Euro. And the 1.60 high in cable too, for that matter. Not to mention Monday's low in the Euro.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: euro m5 1 sept.gif Size: 27 KB
Click to Enlarge Name: euro m15 1 sept.gif Size: 21 KB
  • #2,747
  • Sep 2, 2010 1:11am Sep 2, 2010 1:11am
Hello, my charts for now. You would better get up earlier Reasons - in euro nicely respected 4h pivot, good entry with min risk, in cable 4h pivot breakout, bottom breakout of triangle, falling 30ma 1m chart, again min risk. Euro closed at bottom of overnight range, cable after rapid drop, as I really didn't want to loose profits.

Greetz
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 02.09.2010m1.gif Size: 30 KB
Click to Enlarge Name: 02.09.2010m1 eu.gif Size: 37 KB
  • #2,748
  • Sep 2, 2010 1:48am Sep 2, 2010 1:48am
Hi Chaps,
Market seems a little upredictable this am - is it because of all the news today??.
still managed a little bite of the cherry, 1min divergence , price outside BB and could do with coming back a bit (straight up to the middle of BB in fact) only wish I had been a bit more aggressive!!

have a nice day.
Attached Image (click to enlarge)
Click to Enlarge Name: thurs0730.gif Size: 23 KB
  • #2,749
  • Sep 2, 2010 3:00am Sep 2, 2010 3:00am
I think I'll just skip my midnight alarm clock next time there is more than 1 News release for the GBP.

The news pretty much paralyzed me today...I pulled off 1 trade for +11

It was a standard HL-LL Short.

I skipped the last 2 long signals from divergence because I didn't know if they were actual retrcements or just news pullbacks before continuing the trend.

Ugh...anyway, I watched the most current long a LL-HL shoot through +15 pips. I could have entered with a 7 pip SL, but just froze.

Hopefully NY will be a little easier on my trigger finger.

-Darren
  • #2,750
  • Sep 2, 2010 3:40am Sep 2, 2010 3:40am
GM - several potential entries, hope you guys found them too
Attached Image (click to enlarge)
Click to Enlarge Name: sep 2 eu 1m 935 uk.gif Size: 23 KB
Trading Levels with WRBs
  • #2,751
  • Sep 2, 2010 4:25am Sep 2, 2010 4:25am
And here's the Euro action from an M5, CI divergence perspective...
Attached Image (click to enlarge)
Click to Enlarge Name: euro m5 2 sept.gif Size: 30 KB
  • #2,752
  • Edited 5:43am Sep 2, 2010 5:30am | Edited 5:43am
And here is the cable action...slightly harder work, and the fourth entry based on pure S/R rather than divergence.

EDIT: The pullback to the Asian session 76.4% level (first entry) is typical for cable and a sign that the trend will be down for some time.
Attached Image (click to enlarge)
Click to Enlarge Name: cable m5 2 sept.gif Size: 27 KB
  • #2,753
  • Sep 2, 2010 5:33am Sep 2, 2010 5:33am
Quoting medici
And here is the cable action...slightly harder work, and the fourth entry based on pure S/R rather than divergence.

Hi Medici

I'm pleased you posted this because I have been sitting here watching Cable all morning and have been totally indecisive!

Really loving your CI divergence. How often has it let you down?

PS seeing some hidden divergence on Euro/USD so should be looking for a resumption of the uptrend...news aside.
  • #2,754
  • Sep 2, 2010 5:41am Sep 2, 2010 5:41am
Quoting Delite
Hi Medici

I'm pleased you posted this because I have been sitting here watching Cable all morning and have been totally indecisive!

Really loving your CI divergence. How often has it let you down?

PS seeing some hidden divergence on Euro/USD so should be looking for a resumption of the uptrend...news aside.
You're welcome.

Never let me down, signals are reliable, with the caveat that you need to wait for flattening BBs in strong trends, unless you want to scalp counter-trend. Whereas in ranging markets you need not. So takes a bit of reading of PA, context, as always.

Yes, the Euro will be interesting today...shame that the ECB press conference and the US Unemployment Claims release are at the same time....might make it hard to trade. We'll see.
  • #2,755
  • Sep 2, 2010 5:48am Sep 2, 2010 5:48am
Quoting medici
You're welcome.

Never, with the caveat that you need to wait for flattening BBs in strong trends, unless you want to scalp counter-trend. Whereas in ranging markets you need not. So takes a bit of reading of PA, context, as always.

Yes, the Euro will be interesting today...shame that the ECB press conference and the US Unemployment Claims release are at the same time....might make it hard to trade. We'll see.

Good stuff. I tend to use PA and either S&R or fibs but will look at the good ol' BB's.

Thank you to you and Islander for taking the time to coach newbies like me. I have gained so much from a handful of really experienced people at FF (it all started with BRV's No Brainer Trades..). Hopefully, one day I will be able to pay my dues and start helping others.

All the best!
  • #2,756
  • Sep 2, 2010 5:51am Sep 2, 2010 5:51am
Quoting Dr.Scalpall
Hi Chaps,
Market seems a little upredictable this am - is it because of all the news today??.
still managed a little bite of the cherry, 1min divergence , price outside BB and could do with coming back a bit (straight up to the middle of BB in fact) only wish I had been a bit more aggressive!!

have a nice day.
Perhaps because of the big news tomorrow (NFP) and a big move yesterday...maybe people play it safe ahead of NFP.

Thanks for chart What settings do you use for CII on the M1?

Thanks again.
  • #2,757
  • Sep 2, 2010 10:24am Sep 2, 2010 10:24am
Extremes of Bollinger bands, round number (53500), CI divergence and if conservative, an inside bar with lower volume......why didn't I take it......because it didn't have an engraved invitation of course!!

Actually I was too busy watching EJ
Attached Image
  • #2,758
  • Sep 2, 2010 10:45am Sep 2, 2010 10:45am
Quoting luckylady
Extremes of Bollinger bands, round number (53500), CI divergence and if conservative, an inside bar with lower volume......why didn't I take it......because it didn't have an engraved invitation of course!!

Actually I was too busy watching EJ
Ah, the shy luckylady! Thanks for sharing, long-time lurker

I missed that one too, as I was looking elsewhere, but with the momentum up there were stations on the way to jump aboard.

And one thing that was engraved on that level was that it was the 76.4% retracement of the last leg of the uptrend. See attached.

Once again, welcome to the thread, and hope to see you again
Attached Image (click to enlarge)
Click to Enlarge Name: cable h4 2 sept.jpg Size: 120 KB
  • #2,759
  • Sep 2, 2010 11:19am Sep 2, 2010 11:19am
Thanks for the welcome Medici, but I've only been lurking since you started the thread

I've learned an awful lot from this thread, so thank you and Islander of course
  • #2,760
  • Sep 2, 2010 11:24am Sep 2, 2010 11:24am
Quoting luckylady
Thanks for the welcome Medici, but I've only been lurking since you started the thread

I've learned an awful lot from this thread, so thank you and Islander of course
I'm pleased to hear Thanks for letting us know, because it makes it all worthwhile...
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