EASY H1 trading using divergence and candle sticks | Page 27 | Forex Factory

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EASY H1 trading using divergence and candle sticks

  • #521
  • Apr 27, 2012 2:02pm Apr 27, 2012 2:02pm
I dont know about the other broker but theres a reversal div on my chart on H4 eurusd.. Im outside now, ill post the chart later.. Cheers guys..
  • #522
  • Apr 27, 2012 4:09pm Apr 27, 2012 4:09pm
Quoting kempo
Nice trade madscientist
Personnally, I prefer stop the trade before a big news.
I am a little gamer....

have a nice week end.
Thanks kempo. Basically I just following PurePrice rules of entering, but I seperated H1 and H4 and trade them independently.

Anyway, to follow up on my earlier post, basically H1 chart should be the same as kempo's chart, maybe there is a slight difference on the H4 chart.

Will think about it over the weekend. Cheers

Regards
Madscientist
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd h4 div 27-4.gif Size: 19 KB
  • #523
  • Apr 27, 2012 8:12pm Apr 27, 2012 8:12pm
Hi Pureprice,

Thanks for starting this thread. I, by chance, happen to read this thread about a week ago and have started to use it for some for my entry especially when there is a divergence. So far it has help me in my entry.

Also must thank you for explaining hidden divergence which i always find difficulty understanding.

Thanks
  • #524
  • Apr 27, 2012 8:19pm Apr 27, 2012 8:19pm
I trade divergence on H4 using OsMA and stochastics.

H1 is a little harder as there are more fakeouts but candlesticks formation on support and resistance do give a decent run
  • #525
  • Apr 28, 2012 4:39am Apr 28, 2012 4:39am
Spotted this on the Usd/Cad 30M chart also the 4H chart is showing a divergence. Went long offcourse on a demo account
Attached Image (click to enlarge)
Click to Enlarge Name: usd cad.gif Size: 18 KB
  • #526
  • Apr 28, 2012 4:50am Apr 28, 2012 4:50am
very nice system and approach. but i dont rely on paint indicators i more rely on true facts trading.what pit traders and banks do i belive they move the price and not the indicators and they use very few indicators. 50-150 pips per day is more than enough.
  • #527
  • Apr 29, 2012 4:01am Apr 29, 2012 4:01am
Quoting TravoltaImp
very nice system and approach. but i dont rely on paint indicators i more rely on true facts trading.what pit traders and banks do i belive they move the price and not the indicators and they use very few indicators. 50-150 pips per day is more than enough.
Yeah i agree with the fact that the the banks and institutional parties that moves the market. But we only can predict the levels of price that they usually place orders, supply and demand levels etc. but from what i experienced the levels sometimes were ignored ad the fundamentals change ie what the investors think, risk on or risk off and so on. For a newbie like me its hard to incorporate all those things together, still learning up until today. Im glad that you made 50-150 pips a day, it does not often happen to me.gj

For me no matter how much indicators that you use in your trading, it all comes to the basic of price reading ie candlestick analysis. I might use this method to strenghten my reason to enter trades. Maybe i might not catch trades everyday, but my target is around 100pips gain a week, therefore i think its ok for me.

Anyway, did a simple visual backtest run on eurusd for a year, looks good to me.
Took all divergence trade r:r ratio more the 1 for all trades, and i dont filter it with other technicals or fundamentals. Averages 30pc gain per month.. Too lazy to have a detail backtest haha sorry..

Regards
Madscientist
  • #528
  • Apr 29, 2012 2:43pm Apr 29, 2012 2:43pm
Quoting rpvrpv
Thank you for showing this way of trading.
For the people having problems to identify divergence, maybe this might help.
Install the RSI indicator and after that install the divPeak indicator in the rsi windows.
Thank you very much indeed RPVRPV i just read first 5 page of this Thread and just wanna say that the divPeak Indicator that you shared, makes me crazy! thats gr8 <3
  • #529
  • Apr 30, 2012 3:38am Apr 30, 2012 3:38am
Quoting PurePrice
What oscillator are you using and with what settings? Also what time frame are you looking at?

On my platform, it doesnot show divergence with RSI(7) set to Close
stoch 8,5,5 on the 1h (but I also trade on 15min).... I also use rsi 7, I look to take trades into sup/res areas I also like to trade with momentum.

kind regards
  • #530
  • Apr 30, 2012 4:18am Apr 30, 2012 4:18am
hi guys.

taken a divergence trade on gbpusd H1, take note that there is no divergence emerge on H4, so its kinda gambling taking this trade.

also kinda have a long bias on gbpusd, but bias has crushed me a lot of time, thus i just trade what i see on the chart lol.

anyway, the pic of gbpusd H1 divergence trade (the bottom one)
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd h1 div 30-4.gif Size: 18 KB
  • #531
  • Apr 30, 2012 4:49am Apr 30, 2012 4:49am
Quoting Madscientist
hi guys.

taken a divergence trade on gbpusd H1, take note that there is no divergence emerge on H4, so its kinda gambling taking this trade.

also kinda have a long bias on gbpusd, but bias has crushed me a lot of time, thus i just trade what i see on the chart lol.

anyway, the pic of gbpusd H1 divergence trade (the bottom one)
trade taken
  • #532
  • Apr 30, 2012 5:01am Apr 30, 2012 5:01am
Quoting Madscientist
hi guys.

taken a divergence trade on gbpusd H1, take note that there is no divergence emerge on H4, so its kinda gambling taking this trade.

also kinda have a long bias on gbpusd, but bias has crushed me a lot of time, thus i just trade what i see on the chart lol.

anyway, the pic of gbpusd H1 divergence trade (the bottom one)
Morning!

well I like that trade, it's got alot of things going for it...

@ a nice big number
@ historical resistance
@ stochs & rsi rolling over on 1h 4h and dailys
@ range upper limits
oh and divergence lol

it is against the trend so not sure if it's a keeper...tp near the daily pivit and leave a bit on the table to run (not not)

kind regards
  • #533
  • Apr 30, 2012 5:05am Apr 30, 2012 5:05am
Quoting bksujal
trade taken
Hope it goes well. Anyway traded eurusd this morning for the divergence we talked about last friday, but i guess its late to post the screenshot. But it seems to go well, 30-40 pips on eurusd is enough for me..

Regards
  • #534
  • Apr 30, 2012 5:10am Apr 30, 2012 5:10am
Quoting Madscientist
Hope it goes well. Anyway traded eurusd this morning for the divergence we talked about last friday, but i guess its late to post the screenshot. But it seems to go well, 30-40 pips on eurusd is enough for me..

Regards
yea I remember very well the chart you showed on Friday did you take the trade? Great going

Regards
  • #535
  • Apr 30, 2012 5:29am Apr 30, 2012 5:29am
Quoting bksujal
yea I remember very well the chart you showed on Friday did you take the trade? Great going

Regards
I took one before my broker closes and one more this morning. Its not really following PurePrice's rules (sorry PurePrice ) but i monitored the price from friday's rally and i love the fact that after such a strong momentum upwards price cannot break the .3260-.3270 level and still its a divergence up there. here is the trade on eurusd.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd h4 div 27-30-4.gif Size: 21 KB
  • #536
  • Apr 30, 2012 5:37am Apr 30, 2012 5:37am
whats ur target? 3190-3200?
  • #537
  • Apr 30, 2012 5:46am Apr 30, 2012 5:46am
Quoting bksujal
whats ur target? 3190-3200?
Yep around that level. but its not into the US session yet so will keep the trade and see either they will push the price back up or continue to drop. I'm also eyeing for potential hidden divergence on eurusd H4. Need to be extra cautious here..
  • #538
  • Apr 30, 2012 6:00am Apr 30, 2012 6:00am
ive been observing these banks drop the euro in the euro session and buy in US session
  • #539
  • Apr 30, 2012 7:48am Apr 30, 2012 7:48am
Quoting Madscientist
hi guys.

taken a divergence trade on gbpusd H1, take note that there is no divergence emerge on H4, so its kinda gambling taking this trade.

also kinda have a long bias on gbpusd, but bias has crushed me a lot of time, thus i just trade what i see on the chart lol.

anyway, the pic of gbpusd H1 divergence trade (the bottom one)
Aww bad US data, kinda scared to hold short especially on cable.
Closed gbpusd short trades at .6240.. Still holding eurusd shorts though.

Ok closed eurusd. Saw a hidden divergence on H1 but i dont know it is valid or not.
  • #540
  • Apr 30, 2012 8:01am Apr 30, 2012 8:01am
hello,

Buy eur usd: hidden divergence in h1 + nice candelsticks.

price follow triangle in h4.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur usd h1.gif Size: 15 KB
Click to Enlarge Name: eur usd H4.gif Size: 15 KB
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