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EASY H1 trading using divergence and candle sticks

  • #181
  • Mar 30, 2012 2:31am Mar 30, 2012 2:31am
Good morning @ all,


mini divergence on hourly e/u... if i'm right, we have to wait if this hourly candle forms a nice pinbar, inverted hammer or any other reverse sign.

Me already entered, as we had also a bearish divergence on m5.

Attached Image (click to enlarge)
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Regards...

Chriss
  • #182
  • Mar 30, 2012 7:39am Mar 30, 2012 7:39am
The only potential setup I see for now is GBPUSD. I am starting to see divergence in overbought territory. Lets see if we get a bearish candlee to confirm our reversal.
  • #183
  • Mar 30, 2012 7:48am Mar 30, 2012 7:48am
Also, watch the usdchf chart for possible long setup
  • #184
  • Mar 30, 2012 8:27am Mar 30, 2012 8:27am
Quoting PurePrice
The only potential setup I see for now is GBPUSD. I am starting to see divergence in overbought territory. Lets see if we get a bearish candlee to confirm our reversal.
It's forming a double top reversal pattern on gu. and It's also friday. usually after this hour the price movement is very very slow!
If you have to make a mistake, make sure it is a new one
  • #185
  • Mar 30, 2012 8:28am Mar 30, 2012 8:28am
Thanks price.Lets see if she drops

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  • #186
  • Mar 30, 2012 9:59am Mar 30, 2012 9:59am
Quoting PurePrice
The only potential setup I see for now is GBPUSD. I am starting to see divergence in overbought territory. Lets see if we get a bearish candlee to confirm our reversal.

I was in meetings all morning, but looks like GU actually triggered a short after a nice doubletop pinbar tweezer bearish trade setup around 1.6005.

It is now at TP! and whoever took the short trade might want to lock in some profit as TP1 (about 25 pips) is getting hit now and it is Friday
  • #187
  • Mar 30, 2012 10:00am Mar 30, 2012 10:00am
Quoting tex123
Thanks price.Lets see if she drops

Attachment
Good work text looks like you just hit your TP
  • #188
  • Mar 30, 2012 10:01am Mar 30, 2012 10:01am
Quoting Komugi
It's forming a double top reversal pattern on gu. and It's also friday. usually after this hour the price movement is very very slow!

Thanks for following up on this setup as I was not able to and have been in meetings all morning. This one seems to have worked just fine and hit TP1 so far.
  • #189
  • Mar 30, 2012 10:52am Mar 30, 2012 10:52am
Quoting PurePrice
Good work text looks like you just hit your TP
Yes sir Price and thanks #2 postion at break even and free ride. Swissy had a nice pin bar but not the best divergence but still tradeable imo. I'll probably exit with a small loss in the next ten minutes or break even with the swissy.Have a good weekend.
  • #190
  • Mar 30, 2012 11:52am Mar 30, 2012 11:52am
Stumbled across this little RSI Divergence pattern the other day. I call it the Itty-Bitty-Tiny-Little-Winnie RSI Divergence Pattern because it only involves two bars... and because it sounds funny.

This RSI Divergence pattern comes when the price makes a new High/Low, but the bar displayed is a down bar (if new High is made) or a up bar (if a new Low is made). While at this Divergence Bar RSI is showing a decrease (if a new High is made) or a increase (if a new Low is made).

This might sound a little confusing, so I made you a picture (blue lines show the Itty-Bitty-Tiny-Little-Winnie RSI Divergence Bars). You can see that it can point out a number of tops and bottoms pretty well.

Couple of rules:

 

  1. If you make an entry using this pattern, then enter at the High/Low of the Diverging Bar (the bar that displays the pattern; basically the same rule that PurePrice applies to his Divergence Bars).
  2. The Diverging Bar should be the opposite colour of the previous bar
  3. This Divergence pattern should only occur between two bars

P.S. Like all things in the market world, this is not 100% right all the time. There are false signals out there, so be sure to cover your $$$ with a stoploss, or some other fail-safe method.

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  • #191
  • Apr 2, 2012 2:29am Apr 2, 2012 2:29am
hi
today a double top in eur/usd in h1 timeframe in asia zone.
  • #192
  • Apr 2, 2012 8:26am Apr 2, 2012 8:26am
Hope someone picked up on this wonderful RSI Divergence move on EUR/USD. Looks like we even have that Itty-Bitty-Tiny-Little-Winnie RSI Divergence Pattern I mentioned on Friday (marked by grey area)
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  • #193
  • Apr 2, 2012 9:22am Apr 2, 2012 9:22am
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  • #194
  • Edited 10:23am Apr 2, 2012 10:09am | Edited 10:23am
So, we dont use RSI anymore?

I know any of these indicators like RSI, MACD, CCI, SCHOTASTICS can be used for divergence.

But what is this system based on?

thanks
  • #195
  • Apr 2, 2012 11:02am Apr 2, 2012 11:02am
Dear trades,

Thank you all for posting and sharing your trades and setups with the group. However, there has been a few questions about what indicators to use for divergence and why pople use different ones. You could use any of the oscillators you wish for YOUR trading (such as RSI, MACD, CCI, etc.), however this is confusing some traders here and I am getting some questions about it. I would respectfully ask that when you post setups, to please post with RSI (7) as the only indicator. Thanks
  • #196
  • Apr 2, 2012 11:32pm Apr 2, 2012 11:32pm
today morning i traded nzdusd divergence..have a look
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  • #197
  • Apr 3, 2012 3:14am Apr 3, 2012 3:14am
Hi All I am new here and have found this thread very interesting. Would I be correct about the CAD at present?
  • #198
  • Apr 3, 2012 4:08am Apr 3, 2012 4:08am
Quoting planthat
Hi All I am new here and have found this thread very interesting. Would I be correct about the CAD at present?
yes it is.
  • #199
  • Apr 3, 2012 12:33pm Apr 3, 2012 12:33pm
in my experience trading divergence works really well. I'm curious as to why, anyone know the theory behind whats happening in the market while trading off of divergence?

I like your system.
  • #200
  • Apr 3, 2012 9:31pm Apr 3, 2012 9:31pm
Quoting panguFX
in my experience trading divergence works really well. I'm curious as to why, anyone know the theory behind whats happening in the market while trading off of divergence?

I like your system.
When divergence occur the market
1) Decelerate
2) Pullback and make lower/higher highs/lows

When a market trend and then gradually slow down divergence happen.
http://www.forexfactory.com/showthread.php?t=350813
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