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EASY H1 trading using divergence and candle sticks

  • #901
  • May 11, 2012 6:59am May 11, 2012 6:59am
It appears to me that the USDCAD is once again stuck at long term ressistance it has reached this level several times over the pas months.
Their also appears to be divergence forming. I think that if the price falls from here it will drrop like a LEAD ballon the trigger I think will be todays news release. Time to get ready for a hopefully profitable ride. But then whet do I Know I'm just an old dog learning new ticks.
Mr pips your coming with me
  • #902
  • May 11, 2012 7:08am May 11, 2012 7:08am
Correct me if I am wrong, but isnt EUR/JPY forming hidden bearish divergence on M30 with bearish engulfing candle around strong resistance area right at the moment + bearish MACD divergence (21,34,8) on M5? (I am new to the divergence world so excuse me if I got it all wrong)
  • #903
  • May 11, 2012 7:26am May 11, 2012 7:26am
5 min to go then we know what will happen to CAD will it be up or down place your betts
Mr pips your coming with me
  • #904
  • May 11, 2012 7:32am May 11, 2012 7:32am
Just locked in 13 pips on the CAD news release
and took out frist TP @+30
Mr pips your coming with me
  • #905
  • May 11, 2012 8:09am May 11, 2012 8:09am
Have closed all my trades for this week as I have to be at work in another 6 hours need my sleep.
This week has been pretty good am up 12.2%, 231 pips for ta
he week. Today made 258 pips or added 4.9% to this account.

Ithink I like useing Divergence on the one hour time frame.

Everyone have a profitable day.
Mr pips your coming with me
  • #906
  • May 11, 2012 8:24am May 11, 2012 8:24am
ok here are my trades for today

EUR/JPY +24
EUR/USD +15
NZD/USD +29
USD/CAD +30
USD/JPY +12

overall result: +110 pips

usd/chf is still running (short)
gbp/usd is in recovery
aud/usd recovers

I reccommend you to watch divergences on line chart sometimes it easier to spot them
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur jpy 1h.gif Size: 14 KB
Click to Enlarge Name: eur jpy 5 min.gif Size: 16 KB
Click to Enlarge Name: eur usd 1h.gif Size: 16 KB
Click to Enlarge Name: nzd usd 1h.gif Size: 17 KB
Click to Enlarge Name: nzd usd 5 min.gif Size: 16 KB
Click to Enlarge Name: usd cad 1h.gif Size: 17 KB
Click to Enlarge Name: usd cad 5 min.gif Size: 15 KB
  • #907
  • May 11, 2012 8:25am May 11, 2012 8:25am
....and the last one....
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usd jpy 1h.gif Size: 18 KB
Click to Enlarge Name: usd jpy 5min.gif Size: 17 KB
  • #908
  • May 12, 2012 9:43am May 12, 2012 9:43am
Next week i will try do some improvements on my exit positions.You can see that my entries are goog but I cut my winners to early sometimes.
  • #909
  • May 13, 2012 1:37am May 13, 2012 1:37am
Quoting Zokynho
Next week i will try do some improvements on my exit positions.You can see that my entries are goog but I cut my winners to early sometimes.
For exits i am trying this method. I have a script that I can set risk % then place lines across my chart named SL,PE (pending entry) TP1,TP2,TP3 (set exit percent of position for each TP level)
Example if you wish to exit 60% at TP1, 20% TP2 20% TP3 the script will adjust each order to the correct lot size so that the whole order is not greater than the set risk percent or total risk lots that you set.

I am trying to set my trades so that the frist TP is 80% of total and the R/R is 1 to 2 and let the remaining 20% go with a trailing stop. For thisto work I have to set the frist profit level at approx 2.4 times the stoploss this will still return twice the risk even if the remaining 20% of your trade is stoped out at break even. You still can get away with a strick rate of around anly 40% winning trades and still be in profit. It is all about how much you risk with each trade in the frist place I usually risk no mora than 1% per trade and try noy to have more than total of 6% total risk at any one time.
This I learned the hard way only after blowing a 14K account becaus I thought I new better
If you can stick to this or something simller it may not appear as though your doing much but you eill make good profit and at the same time be saveing your account through the times when you have drawdowns
Mr pips your coming with me
  • #910
  • May 13, 2012 7:35am May 13, 2012 7:35am
hy fx probe thank you for your help I appreciate it but I am using different type of mm so this method would't be much of help for me but if it profitable for you great

Quoting FXprobe
For exits i am trying this method. I have a script that I can set risk % then place lines across my chart named SL,PE (pending entry) TP1,TP2,TP3 (set exit percent of position for each TP level)
Example if you wish to exit 60% at TP1, 20% TP2 20% TP3 the script will adjust each order to the correct lot size so that the whole order is not greater than the set risk percent or total risk lots that you set.

I am trying to set my trades so that the frist TP is 80% of total and the R/R is 1 to 2 and let the remaining 20% go with a trailing stop. For...
  • #911
  • May 14, 2012 6:53am May 14, 2012 6:53am
Anyone taken any nice trades today or seeing potential setups?

I missed the nice bearish divergence on the USD/JPY a few hours ago..
  • #912
  • May 14, 2012 6:58am May 14, 2012 6:58am
for today;a succesful triple divergence example.
Attached Image (click to enlarge)
Click to Enlarge Name: uj.PNG Size: 63 KB
  • #913
  • May 14, 2012 7:04am May 14, 2012 7:04am
Quoting fantom
for today;a succesful triple divergence example.
thanks - yep - thats the one I missed as away from computer

  • #914
  • May 14, 2012 7:05am May 14, 2012 7:05am
Great trade fantom i missed it see it to late


Quoting fantom
for today;a succesful triple divergence example.
  • #915
  • May 14, 2012 7:11am May 14, 2012 7:11am
Hey Guys,
i'm new to this method and I was wondering if there are enough trading opportunities every day from opening until closing of new york to make at least 30 pips/day. I back from school at 13:00 (1 hour before the opening of NY) so I can trade only in those hours.

Thanks,

Luca
  • #916
  • May 14, 2012 7:15am May 14, 2012 7:15am
Quoting Luchetto93
Hey Guys,
i'm new to this method and I was wondering if there are enough trading opportunities every day from opening until closing of new york to make at least 30 pips/day. I back from school at 13:00 (1 hour before the opening of NY) so I can trade only in those hours.

Thanks,

Luca

Definitely - obviosuly not guaranteed as markets are not guaranteed but just look through some of the posts (even recently the trades from Zokynho, Fxprobe etc._ and you will good wins each day.

I have been trading this method for a month and win rate of 75% (including several mistakes which would have improved rate more..)
  • #917
  • May 14, 2012 7:18am May 14, 2012 7:18am
Quoting bluemosaic
Definitely - obviosuly not guaranteed as markets are not guaranteed but just look through some of the posts (even recently the trades from Zokynho, Fxprobe etc._ and you will good wins each day.

I have been trading this method for a month and win rate of 75% (including several mistakes which would have improved rate more..)
I've seen lot of pips made during this month from all traders, but i can trade just NYO till the end of NY.. That's why i was asking that question.

Thanks
  • #918
  • May 14, 2012 7:19am May 14, 2012 7:19am
Quoting Luchetto93
I've seen lot of pips made during this month from all traders, but i can trade just NYO till the end of NY.. That's why i was asking that question.

Thanks
No idea about just NY but don't see why not.
I trade London open (8am) to around 7-8pm (mid US)
  • #919
  • May 14, 2012 7:25am May 14, 2012 7:25am
PurePrice the owner of this thread is only trading ny session so there is some good opportunities every day.we trade this strategy on majors so you can see trade every day at least on 1 pair

regards
  • #920
  • May 14, 2012 7:27am May 14, 2012 7:27am
good result Bluemosaic,
you using mm of pureprice or your own?

regards

Quoting bluemosaic
Definitely - obviosuly not guaranteed as markets are not guaranteed but just look through some of the posts (even recently the trades from Zokynho, Fxprobe etc._ and you will good wins each day.

I have been trading this method for a month and win rate of 75% (including several mistakes which would have improved rate more..)
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