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EASY H1 trading using divergence and candle sticks

  • #161
  • Mar 28, 2012 1:56pm Mar 28, 2012 1:56pm
Binyamin,

I also took the aud usd and also EurAud earlier, and they both failed.

But, I think we will have more winners than losers.

Also, correct stop losses and 1:2 risk to reward should make you profit.

You have to win only 40 to 50 percent of your trades to be profitable if you use a 1:2 RR
  • #162
  • Mar 28, 2012 5:01pm Mar 28, 2012 5:01pm
I would also like to thank you PurePrice for taking the time and effort to create this excellent teaching resource.
It's a great help when you point out the differences between a good trade which didn't work out and a losing trade which was a wrong entry.
  • #163
  • Mar 28, 2012 5:46pm Mar 28, 2012 5:46pm
Quoting PurePrice
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

Finally this pair moved as expected and is now sitting at TP1. IF you took the short trade here, you may want to consider booking some profit here at TP1
Attached Image (click to enlarge)
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  • #164
  • Mar 28, 2012 5:48pm Mar 28, 2012 5:48pm
Quoting Porty4
I would also like to thank you PurePrice for taking the time and effort to create this excellent teaching resource.
It's a great help when you point out the differences between a good trade which didn't work out and a losing trade which was a wrong entry.
You are welcome. I will try my best to comment on setups when I can, but I have the curse of having a fulltime job (9 to 5:30 NY time)
  • #165
  • Mar 28, 2012 7:15pm Mar 28, 2012 7:15pm
A potential divergence on D at A-J
A gr8 thread indeed.
Keep posting, pls.
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  • #166
  • Mar 28, 2012 7:18pm Mar 28, 2012 7:18pm
Quoting PurePrice
You are welcome. I will try my best to comment on setups when I can, but I have the curse of having a fulltime job (9 to 5:30 NY time)
I've got the joys of a full time job too so I appreciate the effort you put in. Any comments will be gratefully received.
Cheers and thanks again
  • #167
  • Mar 28, 2012 9:57pm Mar 28, 2012 9:57pm
hi there, nice thread heres my entry au long.
Attached Image (click to enlarge)
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  • #168
  • Mar 28, 2012 9:59pm Mar 28, 2012 9:59pm
Quoting yongezy
A potential divergence on D at A-J
A gr8 thread indeed.
Keep posting, pls.
H4 showing the PA entering into the lower zone with fakey.
On H1, PA is also entering the lower zone and PB is seen at the top.
Let's see how this pair turns out.
Attached Image (click to enlarge)
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  • #169
  • Mar 29, 2012 2:54am Mar 29, 2012 2:54am
Heads up, EURJPY 1hr....
  • #170
  • Mar 29, 2012 5:29am Mar 29, 2012 5:29am
Quoting GDR3k
Heads up, EURJPY 1hr....
Do you mean you long E-J?

I have this pair short, looking down further or BE to me.
Attached Image (click to enlarge)
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  • #171
  • Mar 29, 2012 5:35am Mar 29, 2012 5:35am
Quoting yongezy
H4 showing the PA entering into the lower zone with fakey.
On H1, PA is also entering the lower zone and PB is seen at the top.
Let's see how this pair turns out.
Another H4 bearish candle shown in a-j.
May exit it in next candle, let's see.
Attached Image (click to enlarge)
Click to Enlarge Name: aj.gif Size: 34 KB
  • #172
  • Mar 29, 2012 6:15am Mar 29, 2012 6:15am
i wish i had 2 lot on au 2 days ago! . 1 for TP1, another for maximum profit !. anyway, probably there's a second chance on EJ Daily. Good luck everybody!
If you have to make a mistake, make sure it is a new one
  • #173
  • Mar 29, 2012 7:08am Mar 29, 2012 7:08am
Here is the chart of H1 NZDUSD showing divergence in oversold territory and hammer candle formation. Note that it is a small sized candle and it is just before NY open ... so something to watch for as I, myself, do not trade just before a session open.
Attached Image (click to enlarge)
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  • #174
  • Mar 29, 2012 7:39am Mar 29, 2012 7:39am
Hi,

I appreciate you posting the charts.

But please remember that you are posting MACD divergences that is totally different from what Pure Price started. He started it on RSI.

The issue is that if tomorrow, someone brings in CCI divergence, and someone else brings in Schotastics divergence, the whole thing is now a different trading method and will confuse traders.

Too many additions and variations to the original concept will distract traders and not give them enough time to practice one concept.

I do not have an issue of you having the MACD, but the issue here is absence of RSI, the main indicator of the whole concept.

I have no intention to confront you, please do not take it personal.

Just include RSI also, that is the whole idea behind this method.

Pure Price can feel free to comment.

thanks
  • #175
  • Mar 29, 2012 7:41am Mar 29, 2012 7:41am
Here we go
Attached Image (click to enlarge)
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  • #176
  • Mar 29, 2012 10:19am Mar 29, 2012 10:19am
I just looked at my charts and I have triggered long trade on EJ.
Attached Image (click to enlarge)
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  • #177
  • Mar 29, 2012 12:44pm Mar 29, 2012 12:44pm
Pure Price,

thank you for sharing your method. What I liek about it and whats different from all the other threads is that you post live charts instead of after the fact .... really helps us see what you're seeing ...

I was hoping you could tell us the pairs you trade and since you've been trading this a while how may trades you get on average (roughly) each week

thx again
  • #178
  • Mar 29, 2012 2:07pm Mar 29, 2012 2:07pm
Quoting PurePrice
I just looked at my charts and I have triggered long trade on EJ.

Now that it has moved +20 pips, I locked profit as the trading day is getting late in NY and usually dies at about this time.
  • #179
  • Mar 29, 2012 2:12pm Mar 29, 2012 2:12pm
Quoting fugly
Pure Price,

thank you for sharing your method. What I liek about it and whats different from all the other threads is that you post live charts instead of after the fact .... really helps us see what you're seeing ...

I was hoping you could tell us the pairs you trade and since you've been trading this a while how may trades you get on average (roughly) each week

thx again

I normally look at all the major pairs, plus EJ and GJ. I dont look at the exotic pairs. That should give you about 8 pairs, but you only need to glance at those charts for about 2 minutes every hour to spot a setup. Once you have a setup, you could place a set and forget pending order. You can always look at the historical charts to get an idea how many setups you will get, as I do not trade all the time and wont be a fair measure of the system to use me as a gauge. I sleep during frankfort/london and I work full-time during NY session.
  • #180
  • Mar 29, 2012 4:09pm Mar 29, 2012 4:09pm
Quoting PurePrice
Now that it has moved +20 pips, I locked profit as the trading day is getting late in NY and usually dies at about this time.

This position is now sitting at about +40 pips and close to TP1 as the NY session closes down, it is a good point to cash in your TP1.

Also, if you have taken AU or NU long positions, they are also sitting at TP1. you should consider closing part of your position at this point as these trades hit TP1
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