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EASY H1 trading using divergence and candle sticks

  • #801
  • May 8, 2012 9:34am May 8, 2012 9:34am
Quoting Madscientist
Took NU long trade at .7902 and GU long trade at .6140.. Sl around 30pips will take half at + 30pips or so.. How about you guys, anyone took the trade?
Closed all trades. Red pips today for me. Cheers
  • #802
  • May 8, 2012 9:46am May 8, 2012 9:46am
potential short entry here at parity (1.0000) on this pair, as it is showing divergence on H1 at a very big numbr 1.0000 ... there seems to be some resistance here, and at 1.0030-1.0050 area if 1.0000 gets taken out.
  • #803
  • May 8, 2012 10:19am May 8, 2012 10:19am
Quoting PurePrice
potential short entry here at parity (1.0000) on this pair, as it is showing divergence on H1 at a very big numbr 1.0000 ... there seems to be some resistance here, and at 1.0030-1.0050 area if 1.0000 gets taken out.
Cant see divergence on 1 hr chart with pin-bar or engulfing candle.
  • #804
  • Edited 10:46am May 8, 2012 10:25am | Edited 10:46am
Quoting don555
Cant see divergence on 1 hr chart with pin-bar or engulfing candle.
Think still waiting to see if we get confirmation. I have taken a screenshot of the current setup where I think divergence is - now waiting to see if current candle will form pin. My feeling is that if we do get a short, it is pullback before continuation of strong trend up (ie.. counter-trend trade)

ps: please ignore 50SMA - forgot to remove it before posting image
Attached Image (click to enlarge)
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  • #805
  • May 8, 2012 10:45am May 8, 2012 10:45am
Quoting don555
Cant see divergence on 1 hr chart with pin-bar or engulfing candle.

Tha candle formation has not happened yet. I was just alerting to a possible potential setup at this level. Yes, we stil need to get the bearish candle formation before entering.
  • #806
  • May 8, 2012 10:46am May 8, 2012 10:46am
Quoting bluemosaic
Think still waiting to see if we get confirmation. I have taken a screenshot of the current setup where I think divergence is - now waiting to see if current candle will form pin. My feeling is that if we do get a short, it is pullback before continuation of strong trend up (ie.. conuter-trend trade)

ps: please ignore 50SMA - forgot to remove it before posting image

Thanks for posting. This is correct
  • #807
  • May 8, 2012 11:01am May 8, 2012 11:01am
Hey there PurePrice, nice spot on the USDCAD. the divergence occured at a very nice spot if viewed from the daily chart! I let it pass as well, the trigger wasn't there..
Riding the order flow
  • #808
  • May 8, 2012 12:22pm May 8, 2012 12:22pm
Guys,

My first post and my first trade on this method but on H4 on UJ.. I am expecting a triangle breakout on the upside will move to BE on +20 and will ride till +50..

Please comment...

Moreover, if you guys see there is a divergence on the daily even.
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  • #809
  • May 8, 2012 12:43pm May 8, 2012 12:43pm
Quoting onefineday
Guys,

My first post and my first trade on this method but on H4 on UJ.. I am expecting a triangle breakout on the upside will move to BE on +20 and will ride till +50..

Please comment...

Moreover, if you guys see there is a divergence on the daily even.
I was watching the very same. However I was a little confused on where to put entry and SL could you say what your thoughts are on this. Are you waiting for a breakout of the trendline with a lttle retracement then confirmation.
  • #810
  • May 8, 2012 12:52pm May 8, 2012 12:52pm
Quoting SteelerKeith
I was watching the very same. However I was a little confused on where to put entry and SL could you say what your thoughts are on this.
Honestly, this is a comeback trade for me after 3 months. I was looking for a good system and liked this one. So I am taking this more for the heck of it.

Anyhow, just to answer your question: I am playing 2x on this one. My entry is at 79.80, target 80.30, SL 8 pips below the lowest low which is at 79.63 for me.. ie SL = 79.55. Other than that I will move to BE if it touches 80.

Honestly, there are better ways to get into this trade like when the price closes above 80, since that is a psychological level, near last high, holds 55EMA Weekly and Weekly Pivot. So there is a lot of wood at that level. I took this trade for the heck of it and at present I am risking less than 0.1% on this trade... more like a comeback. So do plan as you seem fit.

All the Best
OFD
  • #811
  • May 8, 2012 12:56pm May 8, 2012 12:56pm
Quoting SteelerKeith
I was watching the very same. However I was a little confused on where to put entry and SL could you say what your thoughts are on this. Are you waiting for a breakout of the trendline with a lttle retracement then confirmation.
Thamk you for your reply
  • #812
  • May 8, 2012 1:30pm May 8, 2012 1:30pm
Just spotted this bullish divergence on A/U 1H charts:
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 21 KB
  • #813
  • May 8, 2012 2:11pm May 8, 2012 2:11pm
Hey guys here are my result for today:

eur usd:+30
gbp usd:+16
usd cad:+25
aud usd:+20

total score:91 pips



Quoting bluemosaic
Just spotted this bullish divergence on A/U 1H charts:
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aud usd.gif Size: 16 KB
Click to Enlarge Name: eur usd.gif Size: 17 KB
Click to Enlarge Name: gbp usd.gif Size: 18 KB
Click to Enlarge Name: usd cad.gif Size: 18 KB
  • #814
  • May 8, 2012 2:19pm May 8, 2012 2:19pm
Quoting Zokynho
Hey guys here are my result for today:

eur usd:+30
gbp usd:+16
usd cad:+25
aud usd:+20

total score:91 pips
Although your trades are wins you don't seem to be entering from H1 pin bars or engulfing. Mind if you explain your rules?
Riding the order flow
  • #815
  • May 8, 2012 2:31pm May 8, 2012 2:31pm
Hy Binyamin,

I am using a little bit different money management rules and I am more agrressive

Sometimes looking lower tf to confirm my entries

As this is PA trading, watching few confirmations and my whole knowledge about forex, but first tool is rsi divergence.

i will not enter if divergence is not here

i hope that help a little

regards


Quoting Binyamin
Although your trades are wins you don't seem to be entering from H1 pin bars or engulfing. Mind if you explain your rules?
  • #816
  • May 8, 2012 2:33pm May 8, 2012 2:33pm
Quoting Zokynho

Sometimes looking lower tf to confirm my entries

As this is PA trading, watching few confirmations and my whole knowledge about forex, but first tool is rsi divergence.
Though you are did not share your entry method in this post. I kind of get what you mean.
Riding the order flow
  • #817
  • May 8, 2012 2:41pm May 8, 2012 2:41pm
Quoting Binyamin
Though you are did not share your entry method in this post. I kind of get what you mean.
Am not sure I do..

Whilst I do not want to stray from the core strategy/rules of this thread, I am intrigued as to what the entry method is that you are using.

For divergence to occur then surely there must be two points on price and two points on the indicator (RSI) between which we observe the divergence. We can use the candles ie.. pin or engulfing to effectively indicate the point at which the second price anchor/point of the divergence is defined.

Any further info would be of interest. As I said, really not looking to stray from core methodology on this thread..

well done on your trades today :-)
  • #818
  • May 8, 2012 2:44pm May 8, 2012 2:44pm
Quoting bluemosaic
Am not sure I do..

Whilst I do not want to stray from the core strategy/rules of this thread, I am intrigued as to what the entry method is that you are using.

For divergence to occur then surely there must be two points on price and two points on the indicator (RSI) between which we observe the divergence. We can use the candles ie.. pin or engulfing to effectively indicate the point at which the second price anchor/point of the divergence is defined.

Any further info would be of interest. As I said, really not looking to stray from core...
Well I don't think he is interested in sharing more than he said. But he did hint that he use lower timframes. And I can see how it can work out.
Riding the order flow
  • #819
  • May 8, 2012 2:46pm May 8, 2012 2:46pm
yesterday i posted trades so you can look my criteria of entering trades. this is easy and good method just to follow pureprice rules in long run, but if you look on other tf and using good s i r lvls,draw trendlines etc. to see whole picture results will be even better



Quoting Binyamin
Though you are did not share your entry method in this post. I kind of get what you mean.
  • #820
  • May 8, 2012 2:49pm May 8, 2012 2:49pm
Quoting Zokynho
yesterday i posted trades so you can look my criteria of entering trades. this is easy and good method just to follow pureprice rules in long run, but if you look on other tf and using good s i r lvls,draw trendlines etc. to see whole picture results will be even better
Thanks for sharing. In my opinion I think your GU trade today wasn't a valid divergence.
Riding the order flow
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