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EASY H1 trading using divergence and candle sticks

  • #141
  • Mar 27, 2012 11:00pm Mar 27, 2012 11:00pm
Quoting GDR3k
@ PurePrice, I've dragged this from my chart it shows a move from the other day on EURUSD, notice the red lines drawn on, would you call this divergence?
Yes, it's called Bullish Regular Divergence and is counter trend following.
  • #142
  • Mar 27, 2012 11:28pm Mar 27, 2012 11:28pm
Quoting flash4
hi all
curious to know if this was/is a valid setup
a few bearish candles in there too now
Attachment
Nice high probability Bearish Regular Divergence counter trend - reversal type trade with confirming strong resistance candles and double pin bars below a round number (1.600). The cross of your 5 & 10 MAs could be used for entry.
  • #143
  • Mar 28, 2012 12:34am Mar 28, 2012 12:34am
Hi I'm new here. I like the simplicity and logic of the set ups.
It's late in the Asian session and NZD USD looks like it is setting up nicely
  • #144
  • Mar 28, 2012 2:31am Mar 28, 2012 2:31am
Hello traders,
EJ is going smoothly atm.

On the watch list -possible long setting up on AUD-USD

all the b.
chriz
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  • #145
  • Mar 28, 2012 2:57am Mar 28, 2012 2:57am
Quoting thehenryfam
GDR3k, I could be wrong here, and we definitely should have PP weigh in on this, but I don't typically draw my trend and divergence lines over such long periods (5 days) on an hourly chart. Seems if you go out that far, the information is probably less useful.

Scott
Aye, I've never looked at using divergence before in my trading however this thread has changed that, I took a trade before on audusd showing divergence on the 30m.

USD CAD also showing divergence.
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  • #146
  • Mar 28, 2012 5:43am Mar 28, 2012 5:43am
Hi,

Looks like a divergence may set up on EURNZD.

Thank you traders for posting setups and upcoming setups.

Let us chat and hope we are helpful to each other.

Comments welcome on EurNzd.

thanks
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  • #147
  • Mar 28, 2012 6:04am Mar 28, 2012 6:04am
Quoting GDR3k
Aye, I've never looked at using divergence before in my trading however this thread has changed that, I took a trade before on audusd showing divergence on the 30m.

USD CAD also showing divergence.
I hope it's not on a live

a good pinbar has its open & close between the previous candle

Right now you can see a good pinbar on AUD/USD 30m and H1. good luck!

Note: just to make it clear. you're trading based on 30m not H1. So be cautious, lower time frame louder the noises!
If you have to make a mistake, make sure it is a new one
  • #148
  • Mar 28, 2012 8:32am Mar 28, 2012 8:32am
Quoting GDR3k
@ PurePrice, I've dragged this from my chart it shows a move from the other day on EURUSD, notice the red lines drawn on, would you call this divergence?
Hello GDR3k,

Thanks for posting.

I normally do not go that far back. I usually look at the two most recent peaks/troughs to draw my lines. If you would to go that far, then switch to a higher TF like H4 or daily, and trade off those charts.
  • #149
  • Mar 28, 2012 8:37am Mar 28, 2012 8:37am
Quoting flash4
hi all
curious to know if this was/is a valid setup
a few bearish candles in there too now
Attachment

yes, very valid setup, and I would enter this short trade after the break of the low of the pinbar(s)
  • #150
  • Mar 28, 2012 9:12am Mar 28, 2012 9:12am
Quoting PurePrice
yes, very valid setup, and I would enter this short trade after the break of the low of the pinbar(s)
Hi Pureprice, can you show me where is pinbar candle that you mean? I just want to be clear about pinbar candle in this case.
  • #151
  • Mar 28, 2012 11:10am Mar 28, 2012 11:10am
Hi

Played a buy on today morning pinbar and with RSI divergence on NZDUSD. Currently on a loss, 3 bars after the trade.

RSI below 30, Pinbar, price followed 7 pips above the pinbar, took the buy trade.

Looks like the trade will go against us.

Any comments, advise, suggestions, reasons that i should have avoided the trade etc, welcome.

thanks
  • #152
  • Edited 11:29am Mar 28, 2012 11:16am | Edited 11:29am
Quoting alphine
Hi Pureprice, can you show me where is pinbar candle that you mean? I just want to be clear about pinbar candle in this case.
Hello Alpine,

I dont know how to draw on a chart that was posted by someone else. But i was referring to the two consecutive pinbars on the chart that went betweeen hi of 1.6000 and low of 1.59500
  • #153
  • Mar 28, 2012 11:26am Mar 28, 2012 11:26am
Quoting forexnubie
Hi

Played a buy on today morning pinbar and with RSI divergence on NZDUSD. Currently on a loss, 3 bars after the trade.

RSI below 30, Pinbar, price followed 7 pips above the pinbar, took the buy trade.

Looks like the trade will go against us.

Any comments, advise, suggestions, reasons that i should have avoided the trade etc, welcome.

thanks

The trade looks valid to me, and you just happen to hit a loss. As long as you had a proper SL set for you position, that should be a small loss.

Do not kill yourself over one losing trade and don't ever let anyone tell you that you will win 100% of your trades. This is no holy grail. We are hoping for a small edge to win some trades, not all. Losses are part of trading and you should always be ready to expect that, and if they happen, you should be ready to accept the losses, take them in stride and move on to the next trade. Go in each trade expecting to lose and knowing how much you will lose before you even hit the trigger button. That is how this business is run. Consider your loss to be an expense of running the business, no business is run without expenses, and no business makes money without spending money. As long as you control your losses, and your trading system gives you an edge and you exercise sound money management you will be in the black at the end of the month.
  • #154
  • Mar 28, 2012 11:32am Mar 28, 2012 11:32am
thank you pure price.

Good explaination on Money Management.

I am not very concerned about the loss as I trade only Micro lots. Just wanted to confirm if I was trading it right.

Your reply gave me confidence because my entry was right. I am not too concerned about the loss.

Just wanted to confirm if I was trading right, in the first place.

I would rather take a small loss with right trading because there is always another trade.

thanks
  • #155
  • Mar 28, 2012 11:33am Mar 28, 2012 11:33am
We still have about 30 minutes to go for the close of the candle, but this is the only pair that looks like it may have a potential setup. The pair is at parity (again) which should present a barrier to the upside. I looks like we may have divergence in overbought zone on RSI. We just need that nice bearish candle formation now (likely in the form of a pinbar) ... lets wait and see what she does
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  • #156
  • Mar 28, 2012 11:36am Mar 28, 2012 11:36am
Quoting forexnubie
thank you pure price.

Good explaination on Money Management.

I am not very concerned about the loss as I trade only Micro lots. Just wanted to confirm if I was trading it right.

Your reply gave me confidence because my entry was right. I am not too concerned about the loss.

Just wanted to confirm if I was trading right, in the first place.

I would rather take a small loss with right trading because there is always another trade.

thanks
You traded according to the rules and followed the plan, and that is about all you could do really. Will get em next time as I think so far we have picked way many more winners than losers, and some of the winners went to TP2 giving us an overall positive outsome.
  • #157
  • Mar 28, 2012 11:40am Mar 28, 2012 11:40am
Great reply, Pure Price.

Full of confidence.

Great that you are helping traders and analyzing their trades and training them, helping them understand the divergence.

I really appreciate it.

thanks
  • #158
  • Mar 28, 2012 11:43am Mar 28, 2012 11:43am
Quoting forexnubie
Great reply, Pure Price.

Full of confidence.

Great that you are helping traders and analyzing their trades and training them, helping them understand the divergence.

I really appreciate it.

thanks
You are most welcome. I am glad to help, and certainly hope you are getting some trading tips out of this thread that might come in handy with your trading career.
  • #159
  • Mar 28, 2012 12:16pm Mar 28, 2012 12:16pm
Hi there is this a valid but failed setup on AU H1 today? Thanks

Please ignore those MAs
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Riding the order flow
  • #160
  • Mar 28, 2012 12:52pm Mar 28, 2012 12:52pm
would anyone have any comments for this set up, a trade from support?
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