The video on Implicit Divergence is up! http://www.youtube.com/watch?v=FPBMX...=TLNwKr1OzuULA Enjoy!g.
The video on Implicit Divergence is up! http://www.youtube.com/watch?v=FPBMX...=TLNwKr1OzuULA Enjoy!
Explanation and presentation is outstanding. Way that you present this new concept is very good. Sometimes I think why you put this much effort to help others for nothing and that is you.........
So here we go my first question on this presentation.......
Pl see the uploaded chart of UJ. As you have mentioned implicit divergence is ha penning right before the fake out which we don't like to see.
80% effort, 20% luck
- #544
- Sep 9, 2013 7:57am Sep 9, 2013 7:57am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
{quote} Just closed it out at BE+ as, I did not like how price is unable to close above the 150 EMA on the H4 TF. Yeah the Asian session has been closed for 2 hours and even with the LO, it does not want to move. {image} {image}
Just that I tend to be very very picky in selecting my trades, but when I do enter them I am willing to give them space and time to work out. You would have noticed this on the GJ trade too when I actually moved the stop back into the red a bit to give price a little more of a chance to work for me.
Never mind though, I am sure it was a great learning experience which was the initial intent anyway
g.
I believe . . .
- #546
- Sep 9, 2013 8:13am Sep 9, 2013 8:13am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
{quote} Hi ghous, The highlighted phrase is the very essence of this thread. Please correct me if I'm wrong.
g.
I believe . . .
- #548
- Sep 9, 2013 8:19am Sep 9, 2013 8:19am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
guys pl see this chart. HHR just below the BRN. Pl comment on this.... {image}
The blue area you identified is the problem area for me along with the other consolidation in the area. The current pull back to the HHR has been right off it, and even a second rejection at the HHR will push price back into the same area. Not a comfortable situation for sure.
g.
I believe . . .
- #549
- Sep 9, 2013 8:23am Sep 9, 2013 8:23am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
{quote} g.... Explanation and presentation is outstanding. Way that you present this new concept is very good. Sometimes I think why you put this much effort to help others for nothing and that is you.........
Implicit divergence prior to a fake out (or even after a fake out) is actually good.
The consolidation you pointed out on UJ is not implicit divergence. The market is essentially going sideways with a lot of choppiness within a tight range. In the case of implicit divergence the trend will still feel like its intact as every bar will make an effort to actually push past the prior bar.
g.
I believe . . .
- #550
- Sep 9, 2013 8:25am Sep 9, 2013 8:25am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
EURCAD {image}
Glad it worked out for you.
g.
I believe . . .
- #552
- Sep 9, 2013 10:46am Sep 9, 2013 10:46am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Nice video master!Btw Im happy now - i caught a quite good entry
webinars? lol. Not anytime soon
g.
I believe . . .
- #553
- Sep 9, 2013 10:48am Sep 9, 2013 10:48am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Here is something I am looking at with interest.
Potential fake out setup off the prior swing high and 10.3 BRN.
Awaiting a close below the HHR
. . .
g.
Potential fake out setup off the prior swing high and 10.3 BRN.
Awaiting a close below the HHR
. . . g.
I believe . . .
- #554
- Sep 9, 2013 4:27pm Sep 9, 2013 4:27pm
- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
{quote} Yeah well, waiting to see if price could breach the LLS would have kept you in. Its always the last resort. This is essentially why a close above the LLS is so important. But I don't think cutting the trade out after all that waiting was a bad idea. Just that I tend to be very very picky in selecting my trades, but when I do enter them I am willing to give them space and time to work out. You would have noticed this on the GJ trade too when I actually moved the stop back into the red a bit to give price a little more of a chance to work...
I eventually came to the same conclusion.
GBP/DDK almost hit the tp but, I am keeping a tight leash on it as, this is a prominent PPZ.
- #556
- Sep 9, 2013 10:49pm Sep 9, 2013 10:49pm
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Ghous and fellow traders: I'm really enjoying and learning a lot from this thread, very clear, a lot of charts nice clear examples. Looking forward to learn more from you guys. BTW. Im really new to forex (one month maybe) I decided the learn only price action since everything else (indicators) is just a reflection of the PA. Hey lamertrader I took the same trade as you, well maybe couple hours after. (Demo).
You really mean all that just 1 month into this business?
This is unfair.
g.
I believe . . .
{quote} WOW! You mean you won't be starting off with 10 indicators on the chart? You mean the naked charts appeal more than those flashy screens reminiscent of professional work? You mean you actually want to start off studying the most crucial indicator first, which is price and not start the other way round? You really mean all that just 1 month into this business? This is unfair.
Completely unfair
- #559
- Sep 9, 2013 11:19pm Sep 9, 2013 11:19pm
- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
{quote} WOW! You mean you won't be starting off with 10 indicators on the chart? You mean the naked charts appeal more than those flashy screens reminiscent of professional work? You mean you actually want to start off studying the most crucial indicator first, which is price and not start the other way round? You really mean all that just 1 month into this business? This is unfair.
Isn't this much prettier?
- #560
- Sep 9, 2013 11:27pm Sep 9, 2013 11:27pm
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Ghous, at the moment I cannot trade due to personal and financial difficulties, but reading this thread caused a knee jerk reaction with me, I have tried to trade horizontal S/R on the larger time frames before, wether they are SFP or resistance that became support or visa versa. I have never had a handle on what the price action looks prior to touching/penetrating the line to stack the odds in my favor. I will be paying attention to the thread very carefully.
G.
I believe . . .