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Learning How to Spot the Correct Divergence... Beginner Inside

  • #61
  • Sep 15, 2013 2:45pm Sep 15, 2013 2:45pm
I entered here because of the divergence and the double bottom ... what do you think guys ?
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  • #62
  • Sep 15, 2013 2:52pm Sep 15, 2013 2:52pm
ChfJpy
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  • #63
  • Sep 15, 2013 3:13pm Sep 15, 2013 3:13pm
Quoting Muhammad Ezz
EurGbp: it looks like it's going down more and more inside the channel .... but it looks like it's going really bullish on the divergence side .. and both on the daily chart {image} {image}
If you want a good area to enter long on eurgbp, see the green area on my chart below
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  • #64
  • Sep 15, 2013 3:16pm Sep 15, 2013 3:16pm
Quoting jen101
Thanks Smikester.. By the way, I think you might be better off drawing the divergences yourself, rather than relying on some indicator. I found that they often missed some good ones and gave you rubbish.
You're right. And if we run the divergence indicators that I posted alongside each other it confirms your theory to be correct.
Gone to a better place
  • #65
  • Sep 15, 2013 3:24pm Sep 15, 2013 3:24pm
Quoting GDR3k
{quote} If you want a good area to enter long on eurgbp, see the green area on my chart below {image}

You know what, You're probably right it sounds really strong area
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  • #66
  • Sep 15, 2013 6:35pm Sep 15, 2013 6:35pm
where do you guys put a SL when trading a channel ? ... I think I won't and just exit when a breakout happens ? .. and for the target what do you think about the tp area on the chart ? .... thx in advance
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  • #67
  • Sep 16, 2013 1:44am Sep 16, 2013 1:44am
Let me play devil's advocate now .

All divergences are drawn on lagging indicators based on historical data. No matter how you manipulate historical data, you are always going to get historical and any projection is only a best guess. So then why are divergences leading? Is it the elastic band effect that says the price has to ping back? Says who?

Sorry Smikester for the negativity again .
  • #68
  • Sep 16, 2013 10:41am Sep 16, 2013 10:41am
USD CHF H4
+HD
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THERE IS NO SYSTEM
  • #69
  • Sep 16, 2013 10:57am Sep 16, 2013 10:57am
Quoting samansadeghi
USD CHF H4 +HD {image}

I think it's going to take that dive first before rising
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  • #70
  • Sep 16, 2013 11:14am Sep 16, 2013 11:14am
I think this is a descent chance with a little sl just below the low
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  • #71
  • Sep 16, 2013 11:16am Sep 16, 2013 11:16am
and there's a bullish channel forming too ( higher lows ) which support the theory
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  • #72
  • Sep 16, 2013 11:55am Sep 16, 2013 11:55am
-RD
GBPCHF H4
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THERE IS NO SYSTEM
  • #73
  • Sep 19, 2013 2:03am Sep 19, 2013 2:03am
-RD
GBPCHF H4
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THERE IS NO SYSTEM
  • #74
  • Sep 19, 2013 3:27am Sep 19, 2013 3:27am
Quoting samansadeghi
-RD GBPCHF H4 {image}
Good catch
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  • #75
  • Sep 19, 2013 3:33am Sep 19, 2013 3:33am
I would recommend this in case you want to learn about different divergences.

http://www.babypips.com/school/high-...g-divergences/

important rules

http://www.babypips.com/school/9-rul...vergences.html
  • #76
  • Sep 19, 2013 4:10am Sep 19, 2013 4:10am
Quoting XharpScalper
I would recommend this in case you want to learn about different divergences. http://www.babypips.com/school/high-...g-divergences/ important rules http://www.babypips.com/school/9-rul...vergences.html

those 2 lessons are were I started 2 weeks ago I can tell every word inside those articles thanks for trying to help bro
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  • #77
  • Sep 19, 2013 4:48am Sep 19, 2013 4:48am
Quoting samansadeghi
-RD GBPCHF H4 {image}
I applied CCI(7) to GBPCHF H4 and there are no divergences at the moment, maybe bullish one forming if the price stalls. I don't know which is the best indicator or length to use, but I have in the past found CCI(7) to be useful, so it's sort of stuck.

I'd be wary of shorting that for now, because if you look on the daily, it may bounce back up on the 23.6 fib.
  • #78
  • Sep 19, 2013 5:09am Sep 19, 2013 5:09am
I am sure you will love this attachment. Print it out and put it on your desk
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  • #79
  • Sep 19, 2013 5:12am Sep 19, 2013 5:12am
Quoting Muhammad Ezz
{quote} those 2 lessons are were I started 2 weeks ago I can tell every word inside those articles thanks for trying to help bro
thats good.
  • #80
  • Sep 19, 2013 5:17am Sep 19, 2013 5:17am
Quoting jen101
{quote} I applied CCI(7) to GBPCHF H4 and there are no divergences at the moment, maybe bullish one forming if the price stalls. I don't know which is the best indicator or length to use, but I have in the past found CCI(7) to be useful, so it's sort of stuck. I'd be wary of shorting that for now, because if you look on the daily, it may bounce back up on the 23.6 fib.

try it on a higher time frame maybe!
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