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EASY H1 trading using divergence and candle sticks

  • #301
  • Apr 12, 2012 7:52am Apr 12, 2012 7:52am
i'm short on gbp usd.

divergence nzd usd too.
  • #302
  • Apr 12, 2012 8:27am Apr 12, 2012 8:27am
Hi Kempo,

I would like to clarify where the divergence in nzd usd is? I could not find any. Can you please post the chart, if you can, please.

Also, there is no bearish candle stick price action.

On eurusd, there is a bearish railroad track, well, almost.

Can you please explain nzd usd?

thanks
  • #303
  • Apr 12, 2012 9:10am Apr 12, 2012 9:10am
Hi guys (PurePrice nad rest of participants),
First time posting here. I was always interested in dev trading but could not find good teacher.
I have one question and this is about your SL and targets. I find out that on EU, if differance in pips fro high of dev to low of triger bar is more then 40 pip i would not take the trade. I set SL above high of dev formation and but not more then 35-40 pip and aim fo 35 pip profit. If differance is smaler, like 25 pip I set my SL and target acordingly.

I just noticed GU div close to daily R2 and at 62.8 fib.
Please check the picture and comet please. SL 40 target 45 (GU needs more room than EU I guess). This is live trade.

Thanks and best regards.

sasa
Attached Image (click to enlarge)
Click to Enlarge Name: gu sell dev trade 12.04.2012..gif Size: 26 KB
  • #304
  • Apr 12, 2012 9:52am Apr 12, 2012 9:52am
Hi, one more dev is forming. lets see how the clos of the candle will be. It would be better is daily R2 was hih but lets not be misers. Market is deciding.
I will put sell stop order if it close as dev.

BR

Sasa
Attached Image (click to enlarge)
Click to Enlarge Name: eu sell dev trade 12.04.2012..gif Size: 24 KB
  • #305
  • Apr 12, 2012 11:49am Apr 12, 2012 11:49am
See chart...

Olu

BTW I believe we will be getting lots of divergences later on because of the run up in price today. All because of a rumour??? of stimulus from china. If this rumour is denied in the asian session then down we go
Attached Image
If you think you can or cannot do it you are correct
  • #306
  • Apr 12, 2012 2:55pm Apr 12, 2012 2:55pm
Possible setup.

What do you think??

Fernando
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.jpg Size: 126 KB
  • #307
  • Apr 12, 2012 3:06pm Apr 12, 2012 3:06pm
Quoting Fnisthal
Possible setup.

What do you think??

Fernando
imho it is a real signal. gbpusd had a massive, divergence busting upday today and is in need of some retracement. I am overall bearish long term on this pair so I will be taking the break of the low of the signal candle

Olu
If you think you can or cannot do it you are correct
  • #308
  • Apr 12, 2012 4:13pm Apr 12, 2012 4:13pm
Hi PurePrice,

Just a comment off the topic but are you the same PurePrice that competed in the Sure Fire Trading Challenge a while back? If you are then how did you make out there? I was cheering for you....Why? because I'm originally from Vancouver, yup another Canuck!

Nice simple system you have here and we haven't even talked about hidden RSI divergence yet showing trend continuation patterns

Good Stuff..... T-Wolf
  • #309
  • Apr 12, 2012 6:53pm Apr 12, 2012 6:53pm
hi guys,

I think nzdusd is setting up for a good divergence on 1 hour chart.

comments welcome.

thanks
  • #310
  • Apr 12, 2012 7:03pm Apr 12, 2012 7:03pm
Hi

The one hour candle just closed, looks like it is not a bearish candle. But RSI did not make any new high.

So, waiting for a bearish candle formation and if it does, may be then the divergence can be played.

thanks
  • #311
  • Apr 12, 2012 7:26pm Apr 12, 2012 7:26pm
Quoting thunderwolf
Hi PurePrice,

Just a comment off the topic but are you the same PurePrice that competed in the Sure Fire Trading Challenge a while back? If you are then how did you make out there? I was cheering for you....Why? because I'm originally from Vancouver, yup another Canuck!

Nice simple system you have here and we haven't even talked about hidden RSI divergence yet showing trend continuation patterns

Good Stuff..... T-Wolf
Hi T-Wolf,

Yep, it is me , the same guy that competed in SFTC. Unfotunately, id didnot go so well cuz i got myself disqualified by making a trade against the rules. Oh well.

But I am glad you are digging this system. Canucks always welcome
  • #312
  • Apr 12, 2012 7:37pm Apr 12, 2012 7:37pm
Quoting forexnubie
Hi

The one hour candle just closed, looks like it is not a bearish candle. But RSI did not make any new high.

So, waiting for a bearish candle formation and if it does, may be then the divergence can be played.

thanks
Yes, we have what looks like divergence on NU, RSI in overbought area, but no bearish candle formation. Being the Tokyo session, this will be slow moving but who knows, this might surprise us.
  • #313
  • Apr 12, 2012 10:07pm Apr 12, 2012 10:07pm
Quoting PurePrice
Yes, we have what looks like divergence on NU, RSI in overbought area, but no bearish candle formation. Being the Tokyo session, this will be slow moving but who knows, this might surprise us.
Hi Pure price,.

nice to be here with your simple method
I want to ask you,
am I correct to short on EU?

cause i'm junior, please you teach me how to draw short line?
I'm just able to draw trendline, not the short one like you did and others.

thanks,.
  • #314
  • Apr 12, 2012 10:15pm Apr 12, 2012 10:15pm
Quoting hargiyo84
Hi Pure price,.

nice to be here with your simple method
I want to ask you,
am I correct to short on EU?

cause i'm junior, please you teach me how to draw short line?
I'm just able to draw trendline, not the short one like you did and others.

thanks,.

this is my chart
Attached Image (click to enlarge)
Click to Enlarge Name: eu1h.gif Size: 68 KB
  • #315
  • Apr 12, 2012 10:45pm Apr 12, 2012 10:45pm
Hargiyo, Looks like you are drawing rays. Double click your trendline and go to properties then to parameters and click on the box where it says ray.. You should not have a check mark in the box. Then you can draw your line as short or long as you want it.
  • #316
  • Apr 13, 2012 5:20am Apr 13, 2012 5:20am
Hi Pureprice and all,

I found your system just the other day and I must say its the most brilliant and simple to understand divergence system I have seen, this one will really entice me onto longer time frames. So well done and thank you PurePrice and others for your contributions.

Was wondering at 1 on my chart do you consider flat RSI to be a valid signal, it did produce a nice trade of 92 pips, but is this coincidence, do you prefer the RSI to be sloping down for short or is flat ok.

I traded the Aussie down (2 on chart) last night altho i know my entry was too early i didn't wait for bearish candle, got excited about the divergence. Had to sit and sleep through a long period before divergence was confirmed but turned into a nice trade with a little help from China this morning.

If people are looking for good exits I find pivots to be excellent for tp1 and tp2. also stop loss if combined with top of candle and a high/low/or pivot it can provide wonderful resistance/suport.

oh and now at 3 divergence and bullish momentum for aussie, anyone going long?

Thanks for input
Julie
Attached Image (click to enlarge)
Click to Enlarge Name: audusd divergence.jpg Size: 108 KB
  • #317
  • Apr 13, 2012 5:26am Apr 13, 2012 5:26am
Quoting julie1585
Hi Pureprice and all,

I found your system just the other day and I must say its the most brilliant and simple to understand divergence system I have seen, this one will really entice me onto longer time frames. So well done and thank you PurePrice and others for your contributions.

Was wondering at 1 on my chart do you consider flat RSI to be a valid signal, it did produce a nice trade of 92 pips, but is this coincidence, do you prefer the RSI to be sloping down for short or is flat ok.

I traded the Aussie down (2 on chart) last night altho...
Count me in... it appears I am 10pips too late

Olu
If you think you can or cannot do it you are correct
  • #318
  • Apr 13, 2012 5:47am Apr 13, 2012 5:47am
Divergence is a great leading indicator if used correctly, but i`ve noticed most people read the oscillators wrong..

If your oscillator is set to "close" then you must measure the closing price of the bar not the high/low of the bar.

Easy mistake, done loads myself. Hope that makes sense.
Seek not to change the world; seek only to change your mind about the world
  • #319
  • Edited 6:44am Apr 13, 2012 6:05am | Edited 6:44am
Quoting forexnubie
Hi Kempo,

I would like to clarify where the divergence in nzd usd is? I could not find any. Can you please post the chart, if you can, please.

Also, there is no bearish candle stick price action.

On eurusd, there is a bearish railroad track, well, almost.

Can you please explain nzd usd?

thanks
Hi forexubie, sorry i have not seen your question.

I'll try to explain to you and i hope you understand me because i don't speak english very well.

For see a divergenge, i look the chart like PUREPRICE said, and, for help me, I look the chart with the price line, not with candelstick.
I use that with a resistance with some candelstick.

Yesterday, it doesn't work... but holy graal doesn't exit.
I hope you understand now?
Try this on DEMO first!

edit: look on aud usd at the resistance 1,0442 yesterday... the divergence was'nt clear but, with the priceline, it was look better

Have a nice day!

Here an example nzd usd :
Attached Image(s) (click to enlarge)
Click to Enlarge Name: nzd usd chart1.jpg Size: 49 KB
Click to Enlarge Name: nzd usd chart2.jpg Size: 42 KB
  • #320
  • Apr 13, 2012 6:07am Apr 13, 2012 6:07am
Quoting gez40
Divergence is a great leading indicator if used correctly, but i`ve noticed most people read the oscillators wrong..

If your oscillator is set to "close" then you must measure the closing price of the bar not the high/low of the bar.

Easy mistake, done loads myself. Hope that makes sense.
Good point. This might mean earlier entries... I wonder if PurePrice considered this

Olu
If you think you can or cannot do it you are correct
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