Sitting and waiting with my cuppa.....nothings telling me up or down yet 
Enter Signature
Cable Update (GBPUSD)
- #260,862
- Oct 18, 2010 4:10am Oct 18, 2010 4:10am
- Joined Jul 2007 | Status: Trader | 5,392 Posts
Sitting and waiting with my cuppa.....nothings telling me up or down yet
I wonder if any buyers were tempted in by the 1hr pinbar candle close ?? There was 1 and 5min bullish divergence at the lows.
G/L
http://www.easy-upload.net/fichiers/z.2010101811106.gif
ex member
- #260,863
- Oct 18, 2010 4:16am Oct 18, 2010 4:16am
- | Joined Sep 2010 | Status: Use Yours :) | 397 Posts
I wonder if any buyers were tempted in by the 1hr pinbar candle close ?? There was 1 and 5min bullish divergence at the lows.
G/L
http://www.easy-upload.net/fichiers/z.2010101811106.gif
I must confess i nearly did
but the other TF's did not give me the confidence to pull the trigger.
Enter Signature
- #260,864
- Oct 18, 2010 4:17am Oct 18, 2010 4:17am
I wonder if any buyers were tempted in by the 1hr pinbar candle close ??
Yes I did look at it especially as Euro/USD is on its way back up slowly and Swissy/USD is now going down slowly, so yes I may well try for a small long buy ..... up about 20 pips or so........
- #260,865
- Oct 18, 2010 4:24am Oct 18, 2010 4:24am
- | Joined Sep 2009 | Status: Trader | 1,188 Posts
I wonder if any buyers were tempted in by the 1hr pinbar candle close ?? There was 1 and 5min bullish divergence at the lows.
G/L
http://www.easy-upload.net/fichiers/z.2010101811106.gif
. I've been trying to use it myself to improve my entries. I wonder if you could give me some advice please?If I'm seeing classic bullish divergence developing on the M5, is it best to wait for the stochs to put in a confirmed higher low before taking the divergence seriously? i.e. a new low with a higher stoch value on each side of it.
OR
Is it enough that price is lower and the stochs are higher?
Hope you can help.
Thanks
- #260,870
- Oct 18, 2010 4:36am Oct 18, 2010 4:36am
- | Membership Revoked | Joined Oct 2010 | 2,745 Posts
just go to europe.... dont need to change anything...
- #260,871
- Oct 18, 2010 4:37am Oct 18, 2010 4:37am
- Joined Jul 2007 | Status: Trader | 5,392 Posts
For me, the answer to your question is that so long as I have a price action trigger in a repeating set-up that includes certain repeating patterns of divergence and crucially at a pre-identified potential support/resistance/sbr/rbs zone/factors I will act...In this instance for example I had regular immediate bullish divergence on 1min trigger supported by similar on 5min at those pre-identified potential support factors, 1min set-up is shown below:
http://www.easy-upload.net/fichiers/...1018113232.gif
It was supported by a 5min regular divergence based set-up shown below and the double divergence in the osma told me that on the last 2 legs down to a lower price , momentum was waning on that t/f....see below the double regular immediate bullish divergence in the osma oscillator (white)
http://www.easy-upload.net/fichiers/...0101811347.gif
So No I do not wait for the 'confirmed' higher low in the oscillator or in your stochs case for the lines to cross or something, as I have a confluence of other factors in my set-ups that give me the confidence to act at a good price action trigger on the t/f I am entering on...I only act at such divergence based proprietary repeating set-ups beit hidden or regular divergence only at pre-identified potential supp/res/sbr/rbs factors....The more confluence in respect of potential supp/res/rbs/sbr factors the better and the more confluence re repeating set-ups on t/f's above that used for the trigger the better. I have rules re this and act accordingly re risk. This confluence is where the highest probability trading opportunities are.
Hope this helps.
G/L
http://www.easy-upload.net/fichiers/...1018113232.gif
It was supported by a 5min regular divergence based set-up shown below and the double divergence in the osma told me that on the last 2 legs down to a lower price , momentum was waning on that t/f....see below the double regular immediate bullish divergence in the osma oscillator (white)
http://www.easy-upload.net/fichiers/...0101811347.gif
So No I do not wait for the 'confirmed' higher low in the oscillator or in your stochs case for the lines to cross or something, as I have a confluence of other factors in my set-ups that give me the confidence to act at a good price action trigger on the t/f I am entering on...I only act at such divergence based proprietary repeating set-ups beit hidden or regular divergence only at pre-identified potential supp/res/sbr/rbs factors....The more confluence in respect of potential supp/res/rbs/sbr factors the better and the more confluence re repeating set-ups on t/f's above that used for the trigger the better. I have rules re this and act accordingly re risk. This confluence is where the highest probability trading opportunities are.
Hope this helps.
G/L
I know you're the master of divergence on the lower timeframes bbmac
If I'm seeing classic bullish divergence developing on the M5, is it best to wait for the stochs to put in a confirmed higher low before taking the divergence seriously? i.e. a new low with a higher stoch value on each side of it.
OR
Is it enough that price is lower and the stochs are higher?
Hope you can help.
Thanks
ex member
- #260,872
- Oct 18, 2010 4:38am Oct 18, 2010 4:38am
- | Joined May 2008 | Status: Trader | 1,413 Posts
you are long going for right now...what is your reason?are you targeting 50% fibo and that move down?
The area below marked by the white arrow looked like a very likely place to reverse, whilst also providing a small SL
- #260,874
- Oct 18, 2010 4:45am Oct 18, 2010 4:45am
- | Joined Sep 2009 | Status: Trader | 1,188 Posts
For me, the answer to your question is that so long as I have a price action trigger in a repeating set-up that includes certain repeating patterns of divergence and crucially at a pre-identified potential support/resistance/sbr/rbs zone/factors I will act...In this instance for example I had regular immediate bullish divergence on 1min trigger supported by similar on 5min at those pre-identified potential support factors, 1min set-up is shown below:
http://www.easy-upload.net/fichiers/...1018113232.gif...
. I'd like to have a play with that osma indicator. Any ideas where I can find that version?Thanks again
- #260,875
- Oct 18, 2010 4:51am Oct 18, 2010 4:51am
- Joined Jul 2007 | Status: Trader | 5,392 Posts
Thanks bbmac, very helpful stuff
Thanks again
Just remember confluence is king and price action is the trigger.
G/L
ex member
- #260,878
- Oct 18, 2010 5:49am Oct 18, 2010 5:49am
- | Membership Revoked | Joined Oct 2010 | 2,745 Posts
