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EASY H1 trading using divergence and candle sticks

  • #861
  • May 9, 2012 9:48pm May 9, 2012 9:48pm
Tightend my stop on this trade. Just got taken out on frist profit stop for a gain of 57 pips. Still have 20% of position running stop is at pllus 30 pips approx 22 pips behind current price.

All my other trades from last night are sitting at BE plus spread except AUDJPY stoped out on a trailing stop for +3 pips and EURUSD stopped out for -15 pips.

So at the moment I'm positive 45 pips and counting
Mr pips your coming with me
  • #862
  • May 10, 2012 12:38am May 10, 2012 12:38am
Hello.Does anyone here use or tried Vladimir Ribakov's LST Divergence system?It is a divergence system that gives alerts when there is divergence and a pin bar,hammer e.t.c have formed.Plus details Money Management....Thank you
  • #863
  • May 10, 2012 1:05am May 10, 2012 1:05am
Hy smpprj,

where we can find this system?

regards

Quoting smpprj
Hello.Does anyone here use or tried Vladimir Ribakov's LST Divergence system?It is a divergence system that gives alerts when there is divergence and a pin bar,hammer e.t.c have formed.Plus details Money Management....Thank you
  • #864
  • May 10, 2012 1:22am May 10, 2012 1:22am
I have that system I think that it is a good starting point. His vidos are very good.

I took two quick scalps one off a 37.5 retrace from the AUDUSD candle that formed from todays unemployment news am at +23 pips at the moment.

The other on a 37.5 retrace on USDCAD it is +13 pips at the moment .

I think that maybe the AUDUSD will turn the corner it has made a higher higher and higher low could be indication that it is starting ti head back up.
Mr pips your coming with me
  • #865
  • May 10, 2012 1:44am May 10, 2012 1:44am
Quoting Zokynho
Hy smpprj,

where we can find this system?

regards
I don't think that we are allowed to give urls over these threads but if you want to PM me I will see if I can find the link to his web site for you.
Mr pips your coming with me
  • #866
  • May 10, 2012 2:02am May 10, 2012 2:02am
Just got my 23 pips from USDCAD and 31 pips from AUDUAS retrace trades that I took early today.
Mr pips your coming with me
  • #867
  • May 10, 2012 2:41am May 10, 2012 2:41am
I am not sure about the urls,but just in case Google LST FOREX.
  • #868
  • May 10, 2012 2:58am May 10, 2012 2:58am
watch for potential setup in next few hours on EUR/GBP (short)


Wait for candlestick confirmation before entering though...
  • #869
  • May 10, 2012 3:20am May 10, 2012 3:20am
Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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eurusd and usdchf 4 hours
  • #870
  • Edited 5:13am May 10, 2012 5:02am | Edited 5:13am
Quoting bluemosaic
watch for potential setup in next few hours on EUR/GBP (short)


Wait for candlestick confirmation before entering though...
Bearish engulfing now formed
also (just as an observation) the three candles make 'abandoned baby' pattern - which is a reliable bearish pattern (apparently :-))
Attached Image (click to enlarge)
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  • #871
  • May 10, 2012 5:18am May 10, 2012 5:18am
Quoting bluemosaic
Bearish engulfing now formed
also (just as an observation) the three candles make 'abandoned baby' pattern - which is a reliable reversal pattern
i would be very careful, 4h has bullish regular divergence and pinbar so could be a battle of the bulls and bears.

personally i don't take trade like that 1 hour bearish hidden divergence as thy don't seem to go as far, i think its useful to exit a trade when it appears so if we were in long and bearish hidden appears it might be a good time to take profit.

Just my 2 cents.
  • #872
  • May 10, 2012 5:29am May 10, 2012 5:29am
Quoting julie1585
i would be very careful, 4h has bullish regular divergence and pinbar so could be a battle of the bulls and bears.

personally i don't take trade like that 1 hour bearish hidden divergence as thy don't seem to go as far, i think its useful to exit a trade when it appears so if we were in long and bearish hidden appears it might be a good time to take profit.

Just my 2 cents.
That is useful thanks.
So you normally just take regular divergence on 1h, 4h (and shorter?) timeframes ?
  • #873
  • May 10, 2012 5:42am May 10, 2012 5:42am
Quoting bluemosaic
That is useful thanks.
So you normally just take regular divergence on 1h, 4h (and shorter?) timeframes ?
i mostly look at 1h and 15 min, occasionally even 5 min, i am still adjusting to longer timeframes (1 hour is long for me) still experimenting and trying to find my niche.

But whatever time frame i see a trade i always check 1 lower and 1 higher to make sure there is not opposite signals. if signals are same eg bullish regular possibly forming on 1 hour and has formed on 15 min i jump in and don't wait for 1 hour confirmation, but i watch the trade and exit sooner if 1 hour does not confirm.

I am trying to train myself to hold for longer times. but once a 5 min trader always a 5 min trader it seems. Finding it a challenge to watch profit taken back in retraces. I have held a few trades overnight recently, but i dont go to bed til after 2 am cos i want to watch and makes sure its "OK" lol so it really isn't my style. and to be able to sleep i had to only use micro lots, and then you get lots of pips and not much money, its hard to find a happy medium.

so i got 80 pips on my overnight euro trade - 8 bucks yippee, gonna get rich real kwik when it takes all night to make 8 bucks lol. i also held a aususd overnight - not great for micro lots as swap took a buck lol.

all a learning process, seems in forex the more you know, the more you you need to know more.
  • #874
  • May 10, 2012 5:54am May 10, 2012 5:54am
Quoting julie1585
I am trying to train myself to hold for longer times. ... Finding it a challenge to watch profit taken back in retraces. .

all a learning process, seems in forex the more you know, the more you you need to know more.
I know exactly what you mean. Am trying to focus on 1hour charts too - I still peak at 15min charts. I did start on daily and 4h timeframes but found the stop loss pips and retracements just too much to deal with.

I also like being in and out of a trade in a day - preferring to close all trades before sleeping. Found myself worrying overnight otherwise!

I really like this thread, the system and the contributors
  • #875
  • May 10, 2012 6:07am May 10, 2012 6:07am
Quoting bluemosaic
Bearish engulfing now formed
also (just as an observation) the three candles make 'abandoned baby' pattern - which is a reliable bearish pattern (apparently :-))
Just hit target for +35 pips gain

big sigh of relief...
  • #876
  • May 10, 2012 6:44am May 10, 2012 6:44am
hello all.
i identified a nice divergence on cableH1.iam not able to call it hidden divergence because cable is in downtrend and HD is continuation divergence.in any way great profit on the chart.
easy pips for all
Attached Image (click to enlarge)
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  • #877
  • May 10, 2012 7:00am May 10, 2012 7:00am
Quoting bluemosaic
I know exactly what you mean. Am trying to focus on 1hour charts too - I still peak at 15min charts. I did start on daily and 4h timeframes but found the stop loss pips and retracements just too much to deal with.

I also like being in and out of a trade in a day - preferring to close all trades before sleeping. Found myself worrying overnight otherwise!

I really like this thread, the system and the contributors

The thing is with the longer time frames if you use proper
MM it's not realy much of a problem having bigger stops.
You just adjust your lot size so your percent stays the same.
You get less setups but the ones you get are better and give higher profit
Just have to get used to sitting on the side lines for longer.
Mr pips your coming with me
  • #878
  • May 10, 2012 7:13am May 10, 2012 7:13am
it "appears" for now that the majors are breaking out of the dominnat downtrend channel that has taken place for the past couple days. GU with the BOE decision has now closed above the falling channel and above the previous support level of 1.6150. Not sure if there will be contiuation of price in the long direction, but maybe worth keeping an eye on this one
  • #879
  • May 10, 2012 7:15am May 10, 2012 7:15am
Hi,

I'm trying to narrow in on just one or two trading methods that perform reasonable consistent across pairs.

Currently I trade engulfing and pin bar candles off bollinger upper/lower bands when stoch is overbought/oversold (only daily charts). I'm averaging 64% wins, but the reward to risk ratio is low at 1.14 to 1.

Could someone share with me the win% and reward to risk ratio that you are experiencing using the 1HR method in this thread?

Thanks,

John
  • #880
  • May 10, 2012 12:24pm May 10, 2012 12:24pm
Quoting bluemosaic
Just hit target for +35 pips gain

big sigh of relief...
Well done on this one it is the first time I have heard of this pattern I will need to keep my eyes open in the future for this pattern.
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