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EASY H1 trading using divergence and candle sticks

  • #661
  • May 2, 2012 9:53am May 2, 2012 9:53am
Quoting streetcry
Keep eyes on AU guys could be a nice hammer

Agreed. Be cautious of the 10300 figure though as it may present some resistance and price might struggle to break above it in short term
  • #662
  • May 2, 2012 10:10am May 2, 2012 10:10am
Quoting bluemosaic
thanks very much - very helpful

think it has now just broken the PA bar...
I struggle (like many others) to know where to place my TP. Should I just aim for 1xAL, 2xSL, at obvious S/R zone etc..

I find as price pauses/drops a little I also end up bailing out... only for it to carry onwards and upwards... (in case of a long :-))
  • #663
  • May 2, 2012 10:12am May 2, 2012 10:12am
aus/usd nzd/usd and usd/cad
  • #664
  • May 2, 2012 10:20am May 2, 2012 10:20am
Quoting bluemosaic
I struggle (like many others) to know where to place my TP. Should I just aim for 1xAL, 2xSL, at obvious S/R zone etc..

I find as price pauses/drops a little I also end up bailing out... only for it to carry onwards and upwards... (in case of a long :-))
always the big question... many answers and the all depend on what your expecting from your trade and what your stop is etc etc

try slpitting your trade in 2, 1st tp at say 1xsl or s&r then letting the other run until xxxx you get the idea.

we could be hear all day on this one, but as they say it's not jumping out of the plane that kills you it's the landing!
  • #665
  • May 2, 2012 10:22am May 2, 2012 10:22am
Quoting icarusfx
always the big question... many answers and the all depend on what your expecting from your trade and what your stop is etc etc

try slpitting your trade in 2, 1st tp at say 1xsl or s&r then letting the other run until xxxx you get the idea.

we could be hear all day on this one, but as they say it's not jumping out of the plane that kills you it's the landing!
thanks - will give that approach a go

:-)
  • #666
  • May 2, 2012 11:14am May 2, 2012 11:14am
stop 3 pips below the low of the hammer.

Olu
If you think you can or cannot do it you are correct
  • #667
  • May 2, 2012 3:21pm May 2, 2012 3:21pm
Same here. Just registered a nice 3% gain on this trade, making up for my loss on GJ last evening.

Scott

Quoting Olu
stop 3 pips below the low of the hammer.

Olu
Prices are never too high to begin buying or too low to begin selling.
  • #668
  • May 2, 2012 4:43pm May 2, 2012 4:43pm
Quoting Olu
stop 3 pips below the low of the hammer.

Olu
Trade closed for +27 pips

Olu
If you think you can or cannot do it you are correct
  • #669
  • May 2, 2012 9:05pm May 2, 2012 9:05pm
Quoting Olu
Trade closed for +27 pips

Olu

Might get another AU long setup soon .. looks like it is diverging for now arounf the previous lo of 1.0285 for now. Lets watch and see
  • #670
  • May 3, 2012 1:03am May 3, 2012 1:03am
Quoting PurePrice
Might get another AU long setup soon .. looks like it is diverging for now arounf the previous lo of 1.0285 for now. Lets watch and see
also a double bottom has formed on the 1H chart
  • #671
  • May 3, 2012 2:01am May 3, 2012 2:01am
Quoting bksujal
also a double bottom has formed on the 1H chart
Not sure that it has the momentum to drive very high - will also hit downward trend line- just something to be wary of
  • #672
  • May 3, 2012 3:46am May 3, 2012 3:46am
AU Bull div play on

GU soon
  • #673
  • May 3, 2012 4:06am May 3, 2012 4:06am
Quoting 2013

GU soon
Not seeing that at all - can you post a chart?
  • #674
  • May 3, 2012 4:49am May 3, 2012 4:49am
I think he's expecting gu to drop a little bit below yesterday's low. If it does, we might see a divergence but quite a strong rejection aroung the .60 level. So no divergence for now.

Or maybe he's using 1st may low as a divergence? Can 2013 clarify about this? Thanks..
  • #675
  • May 3, 2012 4:56am May 3, 2012 4:56am
see eur/usd double bottom in progress may go long in ny session
  • #676
  • May 3, 2012 5:17am May 3, 2012 5:17am
Quoting bluemosaic
Not seeing that at all - can you post a chart?
I check H4 for confirm then see H1 start playing
Attached Image(s) (click to enlarge)
Click to Enlarge Name: guh4.gif Size: 6 KB
Click to Enlarge Name: gu.gif Size: 9 KB
  • #677
  • May 3, 2012 6:36am May 3, 2012 6:36am
Looks promising divergence and pin bar on USD/CAD 1H
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 20 KB
  • #678
  • May 3, 2012 6:52am May 3, 2012 6:52am
its also happening in xauusg

Olu
If you think you can or cannot do it you are correct
  • #679
  • May 3, 2012 6:56am May 3, 2012 6:56am
In case you were not aware of this, there is market moving events coming up in about 45 minutes in the form of ECB press conference, which usually tends to shake the market, and no technical analysis, no matter how good it is, is going to hold if the conference brings on any surprizes.

There is also ISM manufacturing out of the USA about 1.5 hours after that.

Also tomorrow, big NFP announcement, and that also tends to move the market in nice spikey fashion.


There is a few setups in play now with the USD pairs, but i would not take on any positions until after the press conference, but that is just me, and you trade what you feel comfortable with and whatever way you feel is best for you.

Good luck to all.
  • #680
  • May 3, 2012 6:58am May 3, 2012 6:58am
Quoting bluemosaic
Looks promising divergence and pin bar on USD/CAD 1H
If next candle close below pin bar's open its a fake signal imo, we need to be above to confirm
swing it!
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