got out at the doji at my weekly pivot in green for 15 pips...
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Since I haven't started trading the GU yet, I totally missed that trade. However, a good question I have here is the previous swing on the GU (see chart) was a 123, however it was out of context (not a reversal) but would have been a winner.
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Joined Jul 2010
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Status: Building Edge SandwEdges
|280 Posts
Okay - the setup appeared valid - but it followed a 5 wave pattern off the previous low and a subsequent divergence - so it was a good one to miss. Fail.
I remembered Div mentioning having to be careful with larger bars. Previous high was 1.3968. If we were to enter at that break, SL would have to be more than 25 pips.
Is necessary that the cci of the trigger bar is below or above 50 to enter?
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A bar with CCI below 50 in a downtrend will be seen as the trigger bar. I believe that naturally, if the next bar were to break the low of the trigger bar, the value will be below 50 as well.
A divergence has appeared on the EU chart guys. I am out if it breaks the MA
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Good call. Had moved my stop to just above the doji candle after trigger. Only had a 30% of trade still open. Netted 9 pips. Now looks like we both should have waited. But I never saw divergence on the eu set up. Did You?
Good call. Had moved my stop to just above the doji candle after trigger. Only had a 30% of trade still open. Netted 9 pips. Now looks like we both should have waited. But I never saw divergence on the eu set up. Did You?
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I did not really see a significant down move (e.g. 5 wave move). I thought that divergence usually only happens at the end of a move.
Looked to me like the trend was going down on the 5 min chart.
Waited for a pullback. Did not like what was happening and closed the trade for about 9 pips. It will most likely drop like a stone now. LOL. Good trading to all. Ray
Took a few liberties with this trade because of bearish attitude of EJ.
Price had retraced back to sma. Finally set up a trigger bar. Entered 1 pip below just in time for a bearish surge. Understanding this trade also had no divergence, I exited with 11 pips.
Definitely not a perfect set up, but more a trade of opportunity.
Looked to me like the trend was going down on the 5 min chart.
Waited for a pullback. Did not like what was happening and closed the trade for about 9 pips. It will most likely drop like a stone now. LOL. Good trading to all. Ray
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I'm with you on that analysis. The last few days have spoiled us for rapid return to trend moves.
