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  • #1,801
  • Mar 22, 2011 5:39am Mar 22, 2011 5:39am
Thanks zee, Mine was applied to the low ... what are the right settings for divergence identification ?

Quoting zee
RSI is usually calculated on close price (check your setting). So using the wick for divergence can be misleading in my opinion.
"A goal without a plan is just a wish" - Antoine de Saint-Exupery
  • #1,802
  • Mar 22, 2011 5:41am Mar 22, 2011 5:41am
Diamond, on your Aud trade, i saw that too, but i did not take it because the price didn't break the high by a pip in first two candles. And when i add the spread it definitely didn't take me in. Do you add one pip plus your spread for an entry level? That would typically require two to three pips above the setup candle high...
  • #1,803
  • Mar 22, 2011 5:47am Mar 22, 2011 5:47am
Quoting diamonddbw
Yellow entry, Green profit, Red Stop, +11.6. Textbook.
hi diamond
not to argue, but if the yellow was the entry i think it wasnt exactly by the rules - not to make them the only thing cast in the stone though.
i think if by the rules, the entry would be on that black vertical line if it went 1 pip over the previous doji's top wick - which closed on cci over +50. thats how i understand it, pls fix me if i am wrong ;-)
and that post i posted before was usd/chf ,,3 days in 70 pips range,
cheers
making money in JimB2468 trading room
  • #1,804
  • Mar 22, 2011 6:14am Mar 22, 2011 6:14am
Hey Divergence and Diamond

A big thank you to you both for the videos! They are great!

All the very best to you.
  • #1,805
  • Mar 22, 2011 6:25am Mar 22, 2011 6:25am
Quoting trzcinek
Thanks zee, Mine was applied to the low ... what are the right settings for divergence identification ?
I'm not sure. Mine is set to Close. I think it works fine, just be careful with the wicks
  • #1,806
  • Mar 22, 2011 6:48am Mar 22, 2011 6:48am
Quoting patient pip
hi diamond
not to argue, but if the yellow was the entry i think it wasnt exactly by the rules - not to make them the only thing cast in the stone though.
i think if by the rules, the entry would be on that black vertical line if it went 1 pip over the previous doji's top wick - which closed on cci over +50. thats how i understand it, pls fix me if i am wrong ;-)
and that post i posted before was usd/chf ,,3 days in 70 pips range,
cheers
Hey PP,

That's the way I am seeing it also...could be wrong.

Jon
  • #1,807
  • Mar 22, 2011 7:34am Mar 22, 2011 7:34am
Div, i need some clarification for entry method when buying. Do you enter when price exceeds high of setup candle by 1 pip?, or do you enter when price exceeds setup candle by 1 pip PLUS the spread? This would require price to exceed the setup candle by two to three pips before entering in most cases.
thanks
  • #1,808
  • Mar 22, 2011 7:41am Mar 22, 2011 7:41am
1 pjp above setup bar chart is ugly though we r in uptrend its not trending at the moment all action was inside the 1 spike bar
  • #1,809
  • Mar 22, 2011 7:44am Mar 22, 2011 7:44am
I took this trade and it lost, I still believe it met all rules, but we may be at a turning point in price

Attached Image (click to enlarge)
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  • #1,810
  • Mar 22, 2011 7:50am Mar 22, 2011 7:50am
Quoting FXwest
I took this trade and it lost, I still believe it met all rules, but we may be at a turning point in price

Attachment
I see huge divergence on both the M15 and H1 charts, so I haven't taken any longs this morning.

Just my 2 cents!
  • #1,811
  • Mar 22, 2011 7:53am Mar 22, 2011 7:53am
Quoting FXwest
I took this trade and it lost, I still believe it met all rules, but we may be at a turning point in price

Attachment
Divergence answered this with his previous post a few minutes ago. Yes, uptrend but very choppy right now. Not the time to take a trade when the chart looks like my 3 year old scribbled on it. Just my thought.
  • #1,812
  • Mar 22, 2011 7:56am Mar 22, 2011 7:56am
Quoting FXwest
I took this trade and it lost, I still believe it met all rules, but we may be at a turning point in price
the set up was ok, but it was 5 minutes before a new, so i didn t take it..
  • #1,813
  • Mar 22, 2011 7:56am Mar 22, 2011 7:56am
watched that one as well but stayed out because of the recent resistance at that level

http://img856.imageshack.us/img856/2328/flag3.jpg
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  • #1,814
  • Mar 22, 2011 7:58am Mar 22, 2011 7:58am
It looks like an aggressive trend change would be around 4200 and a more conservative change around 4140. Anyone else have thoughts on this?
  • #1,815
  • Mar 22, 2011 8:00am Mar 22, 2011 8:00am
At which level does your sell zone (downtrend) starts ?

I would say 1.42210, but not sure about that ...
"A goal without a plan is just a wish" - Antoine de Saint-Exupery
  • #1,816
  • Mar 22, 2011 8:00am Mar 22, 2011 8:00am
Quoting specracer
It looks like an aggressive trend change would be around 4200 and a more conservative change around 4140. Anyone else have thoughts on this?
I agree with these.
  • #1,817
  • Edited 8:01am Mar 22, 2011 8:00am | Edited 8:01am
Looks to me that the 10 SMA has been pointing down for sometime. Should have a nice angle up for a buy.

Just my opinion.
  • #1,818
  • Mar 22, 2011 8:02am Mar 22, 2011 8:02am
Quoting trzcinek
At which level does your sell zone (downtrend) starts ?

I would say 1.42210, but not sure about that ...
4212 for me
  • #1,819
  • Mar 22, 2011 8:04am Mar 22, 2011 8:04am
Quoting Delite
I agree with these.
Same.

Really looking for it to break the 1.4140 area to say it is a downtrend overall. If it breaks the 1.4200 and then re-tests and goes down, maybe time for some short positions. But still "counter trend" in my mind until it goes past 1.4140 or tests and goes back up.
  • #1,820
  • Mar 22, 2011 8:07am Mar 22, 2011 8:07am
good thoughts, thanks
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