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EASY H1 trading using divergence and candle sticks

  • #621
  • May 1, 2012 11:57pm May 1, 2012 11:57pm
Targets achieved on the longs taken yesterday of Gbp/Jpy and Usd/jpy
  • #622
  • May 2, 2012 12:05am May 2, 2012 12:05am
Yep, stoploss on that one.

Quoting bksujal
well the evening star isnt strong for a short
Prices are never too high to begin buying or too low to begin selling.
  • #623
  • May 2, 2012 12:54am May 2, 2012 12:54am
Dear PurePrice,
Thnx alot for sharing your easy method
im a nubie in trading and im on my demo account
just wanna ask that am i setting every thing correct?

http://www.imgbaz.com/uploads/88713359379771237.gif

and in this pix
http://www.imgbaz.com/uploads/15513359379778430.jpg
http://www.imgbaz.com/uploads/82413359379777623.jpg
http://www.imgbaz.com/uploads/89913359379777842.jpg
  • #624
  • May 2, 2012 3:11am May 2, 2012 3:11am
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd120502h1.gif Size: 29 KB
Gone to a better place
  • #625
  • May 2, 2012 3:15am May 2, 2012 3:15am
Gbpjpy also showing a hidden divergence on H1 and constuction pmi is 15 mins away.. But the downwards momentum os still strong imo.
  • #626
  • May 2, 2012 3:28am May 2, 2012 3:28am
hi,

in gbpusd double bottom in progress.wait for another 30 min to finish candle.
  • #627
  • May 2, 2012 3:35am May 2, 2012 3:35am
Quoting Madscientist
Gbpjpy also showing a hidden divergence on H1 and constuction pmi is 15 mins away.. But the downwards momentum os still strong imo.
Oh darn now im gambling..

Entered gbpjpy at .18, round number, divergence with potential pinbar. Awwww...
  • #628
  • May 2, 2012 5:12am May 2, 2012 5:12am
Quoting Madscientist
Oh darn now im gambling..

Entered gbpjpy at .18, round number, divergence with potential pinbar. Awwww...
have you entered long or short and off what time frame? I don't see anything that makes me want to risk my money
  • #629
  • May 2, 2012 5:19am May 2, 2012 5:19am
Quoting Madscientist
Oh darn now im gambling..

Entered gbpjpy at .18, round number, divergence with potential pinbar. Awwww...
pending buystop at 130.17 in gbp/jpy . news done a bad thing.what about ur position madscientist
  • #630
  • May 2, 2012 5:38am May 2, 2012 5:38am
Quoting icarusfx
have you entered long or short and off what time frame? I don't see anything that makes me want to risk my money
Im on a long trade from .18.. Sorry i didnt clarify what trade im taking. Im taking from H1 gbpjpy. As i said just now im sort of gambling on the trade. And still holding the trade until now.
  • #631
  • May 2, 2012 5:46am May 2, 2012 5:46am
Quoting Madscientist
Oh darn now im gambling..

Entered gbpjpy at .18, round number, divergence with potential pinbar. Awwww...
what is ur stop loss level.
  • #632
  • May 2, 2012 5:49am May 2, 2012 5:49am
Quoting vasude
what is ur stop loss level.
I set my stop loss at .87, around 40pips from my entry. Thought if the price breaks there its hard to go back up.

Edit: 1 pip from stoploss. Price will touch it eventually. Ah well lesson learned, dont bloody gamble on forex..
  • #633
  • May 2, 2012 6:01am May 2, 2012 6:01am
Quoting Madscientist
I set my stop loss at .87, around 40pips from my entry. Thought if the price breaks there its hard to go back up.

Edit: 1 pip from stoploss. Price will touch it eventually. Ah well lesson learned, dont bloody gamble on forex..
true, just trade with the rules after all its hard earned money mate
  • #634
  • May 2, 2012 6:12am May 2, 2012 6:12am
Quoting bksujal
true, just trade with the rules after all its hard earned money mate
Yeah.. Need to be more discipline after this. Anyway just curious, why is it when usd getting stronger, yen is going down?
  • #635
  • May 2, 2012 6:39am May 2, 2012 6:39am
Quoting Madscientist
Yeah.. Need to be more discipline after this. Anyway just curious, why is it when usd getting stronger, yen is going down?
If the USD gets stronger, everything else that is paired with it gets weaker

For example if you look at USDJPY, then if traders start demanding USD and going long on USDJPY, then that means they are buying USD and selling JPY. This may have a ripple effect on EURJPY and then possibly GPBJPY, and so on. That is why when you enter any trade you do not want to enter multiple correlated pair trades since you would be increasing your exposure and thereby increasing your risk. Because very likely, as you will notice that if a trade fails on one USD pair, it is very likely to fail (or come very close to it) on the other pairs at the same time. If I want to have more than one position open on diffrent pairs, I divide up my lots so that total of all trades equals my risk %, not each trade, but the total of open positions.
  • #636
  • May 2, 2012 6:41am May 2, 2012 6:41am
watch this pair around 0.8120, as it is struggling with it, and appears that it has put in divergence. We still need bullish candle formation and confirmation.
  • #637
  • May 2, 2012 6:46am May 2, 2012 6:46am
Quoting PurePrice
If the USD gets stronger, everything else that is paired with it gets weaker

For example if you look at USDJPY, then if traders start demanding USD and going long on USDJPY, then that means they are buying USD and selling JPY. This may have a ripple effect on EURJPY and then possibly GPBJPY, and so on. That is why when you enter any trade you do not want to enter multiple correlated pair trades since you would be increasing your exposure and thereby increasing your risk. Because very likely, as you will notice that if a trade fails on...
Thanks for the explanation. Appreciate it..
  • #638
  • May 2, 2012 6:48am May 2, 2012 6:48am
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_2may.gif Size: 23 KB


Line break is also good setup. I saw many times when trying to spot divergencies.
  • #639
  • May 2, 2012 7:02am May 2, 2012 7:02am
http://www.forexfactory.com/showthre...16#post5629816
Gone to a better place
  • #640
  • May 2, 2012 7:05am May 2, 2012 7:05am
Quoting smikester
http://www.forexfactory.com/showthre...16#post5629816
i'm watching gpy/gbp for a long op around 129.70

regards
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