Your thread should be labelled as a must read for all aspiring traders. It is the essence of what trading is about. Plainly and simply you have nailed it!
I've noticed that you have never mentioned using hidden divergence in any of your posts. So my question is do you consider hidden divergence, when looking for continuation of a trend?
Thank you for sharing your methodology.....T-Wolf
Ignored
Someone finally mentioned Hidden Divergences!
I know them as reversals and the important characteristic of them is that they are signals which correspond to the continuation of a trend rather than divergences, which are counter-trend signals.
I have a RSI Paint indicator which paints reversals and divergences but it is only available commercially that i am aware of and costs $90. There are free mt4 indicators for divergences but not reversals.
What is interesting is the sheer number of divergences on a chart which don't become appharrent until they are automatically painted. This indicator has shown me that most divergences don't work- and can't be successfully traded on their own per se - but Divergence requires them to be confirmed by a number of factors which is why he is able to trade them successfully.
I have no affiliation with the seller of this indicator - but find reversals to be great indicators of changes in momentum.
Yes, I agree with you, vince. I also traded this signal. It fits the rule - trend, ma , cci, 1pip next bar.... This system may not be 100% successfull, it still is a very high probabiltity system, and the essential, following trend, is what makes it perfect.
Anyway, it's important to DO NOT miss the following 2nd signal.
This chart is my on going trade, eurusd 15M. Just about to win.
As my previous posts, to draw HH HL, you must first deside how large a pullback will be called a pullback(based on "art" and experience), thus, "s" is the last HL, any smallers pullbacks as the white circles are not "HL", thus when S is taken out, down trend happens and I was in.
LOL, I was in on Friday night, very risky, spread is too large....
Could you please answer this, I'm still confused about "no +1pip next bar then one more shot...", see my chart:
no +1pip next to trigger bar, so wait for an entry ANY bars later?
