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EASY H1 trading using divergence and candle sticks

  • #701
  • May 3, 2012 10:00am May 3, 2012 10:00am
Quoting icarusfx
sell? thats a strange place to want to sell?

Testing another strategy.....daily box trade.......
The things which hurt, instruct! - Benjamin Franklin
  • #702
  • May 3, 2012 10:00am May 3, 2012 10:00am
you should take a look @ eurcad (1h & 4h shows it best!) perfect little trade :oD
  • #703
  • May 3, 2012 10:03am May 3, 2012 10:03am
Quoting Ezmai
Testing another strategy.....daily box trade.......
thats fine but to enter at just wrong side of a big number like that is asking for downdraw with very little gain esp on a daily strat .....imo

kind regards

testing is good though :o)
  • #704
  • May 3, 2012 10:07am May 3, 2012 10:07am
Quoting PurePrice
it seems tht GU is finally moving above the H1 pinbar and divergence that many posters have talked about earlier. However, it appears there is a falling trendline on H1 that is keeping the Cable down for now. I think if we get and close above 1.6200 decisively, we may have a good shot at a long trade, as that means that the trendline is also broken to the upside and potential breakout

Cable gets bitch-slapped at exactly the previous level just above 1.6200 around 1.6210 and can't hold above the figure (for now)
  • #705
  • May 3, 2012 10:10am May 3, 2012 10:10am
Quoting icarusfx
thats fine but to enter at just wrong side of a big number like that is asking for downdraw with very little gain esp on a daily strat .....imo

kind regards

testing is good though :o)
Noted. Your opinion matters a great deal, thank you. Much in the way of green today?

Ez.
The things which hurt, instruct! - Benjamin Franklin
  • #706
  • May 3, 2012 10:31am May 3, 2012 10:31am
Lets hope things will pick up after NY lunch and not wait till tomorrow morning NFP numbers
  • #707
  • May 3, 2012 10:34am May 3, 2012 10:34am
Quoting Ezmai
Noted. Your opinion matters a great deal, thank you. Much in the way of green today?

Ez.
yeah I did ok :oD i'm still holding afew trades namely gbpusd.... 1st tp @ the pivot (15min entry) 2nd half of the trade stopped out at break even... re-entered @ s1 etc and did it all again lol locked in profit and will sit on it for a while (if possible).

have a nice weekend all, I'm off to Bilbao for a friends stag..... it's going to be a looooong weekend
  • #708
  • May 3, 2012 10:36am May 3, 2012 10:36am
Quoting icarusfx
yeah I did ok :oD i'm still holding afew trades namely gbpusd.... 1st tp @ the pivot (15min entry) 2nd half of the trade stopped out at break even... re-entered @ s1 etc and did it all again lol locked in profit and will sit on it for a while (if possible).

have a nice weekend all, I'm off to Bilbao for a friends stag..... it's going to be a looooong weekend
Thanks and enjoy the long weekend.
  • #709
  • May 3, 2012 10:46am May 3, 2012 10:46am
Quoting icarusfx
yeah I did ok :oD i'm still holding afew trades namely gbpusd.... 1st tp @ the pivot (15min entry) 2nd half of the trade stopped out at break even... re-entered @ s1 etc and did it all again lol locked in profit and will sit on it for a while (if possible).

have a nice weekend all, I'm off to Bilbao for a friends stag..... it's going to be a looooong weekend
Well done you - enoy your weekend - I was in San Sebastian last few weeks - the North is beautiful.
The things which hurt, instruct! - Benjamin Franklin
  • #710
  • May 3, 2012 10:56am May 3, 2012 10:56am
Quoting PurePrice
This system does not use any indicators except for the RSI as an oscillator. The RSI is used as a divergence "leading" indicator to "predict" possible price reversal point. In additon we will also look for a candle stick reversal pattern to solidify our decision. To make things more concrete, we will also look to see these reversal levels are occuring at a logical reactionary price levels, making our odds at winning the trade that much better.

I am not sure if someone else has already covered this way of trading in another thread, but...
I have been looking for quite a while now to find a reliable thread on divergence without to many indicators and I now think I have found it.
If you dont mind Pure Price I will join you in this thread to hopefully start to make some pips.
To date I have only ever lost money in forex but from now I feel confident that this is about to change.
By the way do you trade on NFP DAY.
  • #711
  • May 3, 2012 12:41pm May 3, 2012 12:41pm
Quoting don555
I have been looking for quite a while now to find a reliable thread on divergence without to many indicators and I now think I have found it.
If you dont mind Pure Price I will join you in this thread to hopefully start to make some pips.
To date I have only ever lost money in forex but from now I feel confident that this is about to change.
By the way do you trade on NFP DAY.
I avoid Nfp day as Market usually dead up to announcement and then erratic after. Saying that, there is opportunity at that point for the risk taker
  • #712
  • May 3, 2012 12:57pm May 3, 2012 12:57pm
Quoting bluemosaic
I avoid Nfp day as Market usually dead up to announcement and then erratic after. Saying that, there is opportunity at that point for the risk taker
Thanks bluemosaic
As you are uk based the same as myself what time do you normally trade this method and what pairs do you use.
  • #713
  • May 3, 2012 1:10pm May 3, 2012 1:10pm
Quoting don555
Thanks bluemosaic
As you are uk based the same as myself what time do you normally trade this method and what pairs do you use.
Hi

Yes am in UK - In west/south west. Where are you?
I trade this method between around 8am and 8pm UK time. This tends to be when I am in front or near a computer anyway

I tend to stick with main pairs e/u, u/j, usd/cad, usd/chf, aud/usd, nzd/usd, eur/gbp etc.. Not so keen on g/u but will sometimes look at it. Tend to stick to pairs with max 3 pip spread on my broker - igindex.

Have only been trading this method for past month but really like it so far. Have been trading forex on/off for past few years with limited success...

cheers
  • #714
  • May 3, 2012 1:17pm May 3, 2012 1:17pm
Quoting bluemosaic
Hi

Yes am in UK - In west/south west. Where are you?
I trade this method between around 8am and 8pm UK time. This tends to be when I am in front or near a computer anyway

I tend to stick with main pairs e/u, u/j, usd/cad, usd/chf, aud/usd, nzd/usd, eur/gbp etc.. Not so keen on g/u but will sometimes look at it. Tend to stick to pairs with max 3 pip spread on my broker - igindex.

Have only been trading this method for past month but really like it so far. Have been trading forex on/off for past few years with limited success...

cheers...
I am 6 miles from the centre of Exeter.
Thanks for the info.
  • #715
  • May 3, 2012 1:57pm May 3, 2012 1:57pm
Quoting don555
I have been looking for quite a while now to find a reliable thread on divergence without to many indicators and I now think I have found it.
If you dont mind Pure Price I will join you in this thread to hopefully start to make some pips.
To date I have only ever lost money in forex but from now I feel confident that this is about to change.
By the way do you trade on NFP DAY.

Welcome aboard, and I hope that this is what you are looking for and that you are here to stay .. good luck with your trading.

I would trade carefully, and just be aware that price maybe spikey around NFP announcment time + 1 hour. and before that, market usually is dead until the announcement.
  • #716
  • May 3, 2012 2:14pm May 3, 2012 2:14pm

Hi Pure Price,

I knew you meant that on the news. I totally agree with you on that.

This is one of the good forums and I appreciate traders posting setups without deviating from the original method.

We should make this one of the most active forums in FF.

One of the best methods, very simple, well thought out by PurePrice.

thanks
  • #717
  • May 4, 2012 1:25am May 4, 2012 1:25am
Good afternoon guys.. Quite a quiet day today eh.. Any thought on today's trades? Still holding short trades on eurusd and eurjpy for yesterday's divergence.. Going good on eurjpy but still stalling on eurusd..
  • #718
  • May 4, 2012 2:06am May 4, 2012 2:06am
Quoting Madscientist
Good afternoon guys.. Quite a quiet day today eh.. Any thought on today's trades? Still holding short trades on eurusd and eurjpy for yesterday's divergence.. Going good on eurjpy but still stalling on eurusd..
Morning all. Market very quiet pre-NFP announcement later. I might take a look at the market after the announcement but into Friday afternoon/weekend, the market becomes quiet anyway. Also there is a bank holiday here in the UK on Monday so markets will be closed.
  • #719
  • May 4, 2012 2:42am May 4, 2012 2:42am
Quoting bluemosaic
Morning all. Market very quiet pre-NFP announcement later. I might take a look at the market after the announcement but into Friday afternoon/weekend, the market becomes quiet anyway. Also there is a bank holiday here in the UK on Monday so markets will be closed.
Oh I didnt know UK will be on holiday on Monday. Yeah the calm before the storm, thats what people say. Anyway here's the trade I took from yesterday on eurusd. I'm not sure if it falls into divergence category.

Please, feel free to comment, thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd h1 div.gif Size: 18 KB
  • #720
  • May 4, 2012 3:23am May 4, 2012 3:23am
Quoting Madscientist
Oh I didnt know UK will be on holiday on Monday. Yeah the calm before the storm, thats what people say. Anyway here's the trade I took from yesterday on eurusd. I'm not sure if it falls into divergence category.

Please, feel free to comment, thanks.
Thanks for posting. I notice that the RSI divergence start point was not below 30. Do you take any divergence or normally keep to the < 30 or > 70 rule used within this thread?
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