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EASY H1 trading using divergence and candle sticks

  • #221
  • Apr 9, 2012 6:33pm Apr 9, 2012 6:33pm
Here is one that I caught too late today and didn't get to enter. Would have been another win, though. Anyone grab this one?

Scott
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd.gif Size: 14 KB
Prices are never too high to begin buying or too low to begin selling.
  • #222
  • Apr 9, 2012 7:54pm Apr 9, 2012 7:54pm
Quoting thehenryfam
Here is one that I caught too late today and didn't get to enter. Would have been another win, though. Anyone grab this one?

Scott
You suppose to enter at a pin or engulfing. Your last 2 trades was neither.
Riding the order flow
  • #223
  • Apr 9, 2012 7:57pm Apr 9, 2012 7:57pm
looks like divergence, right? is this still considered divergence if we have a triangle?

thanx, great system!.
Attached Image (click to enlarge)
Click to Enlarge Name: wen.gif Size: 22 KB
  • #224
  • Apr 9, 2012 9:13pm Apr 9, 2012 9:13pm
Hmmm... well, the CADJPY was clearly an engulfing, and the NZDUSD was for all practical purposes an engulfing candle also (the close of the previous candle was 0.82329 and the open of the engulfing candle was 0.82325, so less than half a pip of difference. It's not like it gapped down 3 pips or something. Not sure about PurePrice's thought on that, but I'm comfortable taking that trade. I have attached both charts again with the engulfing candles marked so they can be easily seen.

Scott

Quoting Binyamin
You suppose to enter at a pin or engulfing. Your last 2 trades was neither.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cadjpy-1.gif Size: 14 KB
Click to Enlarge Name: nzdusd-1.gif Size: 14 KB
Prices are never too high to begin buying or too low to begin selling.
  • #225
  • Apr 9, 2012 9:43pm Apr 9, 2012 9:43pm
Quoting thehenryfam
Hmmm... well, the CADJPY was clearly an engulfing, and the NZDUSD was for all practical purposes an engulfing candle also (the close of the previous candle was 0.82329 and the open of the engulfing candle was 0.82325, so less than half a pip of difference. It's not like it gapped down 3 pips or something. Not sure about PurePrice's thought on that, but I'm comfortable taking that trade. I have attached both charts again with the engulfing candles marked so they can be easily seen.

Scott
No that is absolutely not an engulfing. The whole of the previous bar have to be covered by the engulfing bar. But if it makes you money in the long run fine just keep trading it.
Riding the order flow
  • #226
  • Apr 10, 2012 3:11am Apr 10, 2012 3:11am
Hallo Traders,

my english is not so good (sorry). I have a Indicator that shows automatic divergences on RSI. Can anyone set a Alert to this indicator. Look todays M15 Divergence on the chart. Thanks.
  • #227
  • Apr 10, 2012 3:13am Apr 10, 2012 3:13am
Here the indicator.
Attached Image (click to enlarge)
Click to Enlarge Name: div.jpg Size: 70 KB
Attached File(s)
File Type: mq4 Divergence Petr 1.mq4   65 KB | 1,315 downloads
File Type: ex4 Divergence Petr 1.ex4   99 KB | 1,086 downloads
  • #228
  • Apr 10, 2012 7:12am Apr 10, 2012 7:12am
There were a couple trades in the overnight period (US). I caught the EUR/USD short before going to bed. Divergence plus bearish engulfing equals another win. Good week thus far!

Scott
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 14 KB
Prices are never too high to begin buying or too low to begin selling.
  • #229
  • Apr 10, 2012 7:59am Apr 10, 2012 7:59am
So I identified these 2 setups from the 9/4 and 10/4. They seem like perfect setups to me - the GBPUSD trade is triggered by the pin bar marked, entry occurs 2 bars later and the SL and TP levels are marked. Half closed at 12.8 pips, the rest closed at 25.6 pips.

Likewise for the USDCHF chart, the bullish engulfing bar marked triggers the trade and entry occurs 2 bars later. Again the SL and TP levels are marked. Half closed at 16.3, the rest closed at 32.6.

So these look great on paper - now I just need to catch them happenning live!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GU 0200GMT 10.4.12 Setup.jpg Size: 212 KB
Click to Enlarge Name: UC 2300GMT 9.4.12 Setup.jpg Size: 204 KB
  • #230
  • Apr 10, 2012 4:58pm Apr 10, 2012 4:58pm
Traders what do think about this one?

Possible recovery in the stock market i.e good alcoa results and very oversold

Olu
Attached Image (click to enlarge)
Click to Enlarge Name: audusd-1H-10042012-2245uk.jpg Size: 122 KB
If you think you can or cannot do it you are correct
  • #231
  • Apr 10, 2012 6:58pm Apr 10, 2012 6:58pm
Quoting Olu
Traders what do think about this one?

Possible recovery in the stock market i.e good alcoa results and very oversold

Olu
Trade cancelled. New low. This is why it is good to wait for the engulfong candle or pinbar/hammer

Olu
If you think you can or cannot do it you are correct
  • #232
  • Apr 10, 2012 7:41pm Apr 10, 2012 7:41pm
Quoting Olu
Trade cancelled. New low. This is why it is good to wait for the engulfong candle or pinbar/hammer

Olu
Traders

I might have spoken too soon. Yes the double bottom has gone. The divergence on the hourly is still intact and the current candle is just about to engulf the previous candle.

How does it look on your charts?

Olu
If you think you can or cannot do it you are correct
  • #233
  • Apr 10, 2012 8:45pm Apr 10, 2012 8:45pm
Unfortunately, I just got out of a meeting and missed that setup. Looks like a pretty good one, Olu. Good luck.

Scott

Quoting Olu
Traders

I might have spoken too soon. Yes the double bottom has gone. The divergence on the hourly is still intact and the current candle is just about to engulf the previous candle.

How does it look on your charts?

Olu
Prices are never too high to begin buying or too low to begin selling.
  • #234
  • Apr 10, 2012 9:53pm Apr 10, 2012 9:53pm
Hi,

That was a good one Olu, but I missed that too. But if you look carefully, in between you had a bearish setup.

To all, keep posting and alerting us of the possible setups!

Fernando
  • #235
  • Apr 11, 2012 1:19am Apr 11, 2012 1:19am
Quoting Olu
Trade cancelled. New low. This is why it is good to wait for the engulfong candle or pinbar/hammer

Olu
Exactly - don't try to guess what is going to happen. Wait for the strong candles and divergence then act on those. Guessing is just gambling
  • #236
  • Apr 11, 2012 5:33am Apr 11, 2012 5:33am
The Euro

Please note the candle hasnt closed yet. It still has 30 minutes to go at the time of grabbing this chart

BTW: Hope some took some of the aud trade.

Olu
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-1h-11042012-1130uk.JPG Size: 62 KB
If you think you can or cannot do it you are correct
  • #237
  • Apr 11, 2012 5:37am Apr 11, 2012 5:37am
Yes cable is similar also at nice level let's hope formation is similar at turn of hr
  • #238
  • Apr 11, 2012 5:53am Apr 11, 2012 5:53am
Yeah they both look promising trades. Im new to this thread and the RSI Divergence system, but it looks very promising.

How are you guys getting on with it?

What the win/loss ratio like?

Im looking forward to getting involved in this thread and sharing alerts etc...

Think Im gonna jump in on the EURUSD

Good luck
  • #239
  • Apr 11, 2012 6:24am Apr 11, 2012 6:24am
Quoting Olu
The Euro

Please note the candle hasnt closed yet. It still has 30 minutes to go at the time of grabbing this chart

BTW: Hope some took some of the aud trade.

Olu
The close was a qualifying candle. But we have not taken out the low of the candle. IMHO as long as the high of the candle is not taken out this is still a possibility

Olu
If you think you can or cannot do it you are correct
  • #240
  • Apr 11, 2012 6:27am Apr 11, 2012 6:27am
Yeah Ive got my pending order in place.
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