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Trading For Those With a 9-5 Job

  • #5,201
  • May 28, 2015 3:02am May 28, 2015 3:02am
I am confused about what I see. there is conflicting divergence signal on macd?
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  • #5,202
  • May 28, 2015 11:29am May 28, 2015 11:29am
Basic interpretation is that it is bullish when short MA line is above long MA line (like your chart shows). As well if histogram goes positive and is rising (which your chart also shows - until recently that is). All that means is momentum is slowing.

But always look for other factors to confirm entries or exits or market opinion in general. Indicators only "indicate".
  • #5,203
  • May 28, 2015 4:16pm May 28, 2015 4:16pm
Quoting SunTrader
Basic interpretation is that it is bullish when short MA line is above long MA line (like your chart shows). As well if histogram goes positive and is rising (which your chart also shows - until recently that is). All that means is momentum is slowing. But always look for other factors to confirm entries or exits or market opinion in general. Indicators only "indicate".
Agreed SunTrader. That is indeed the interpretation. It is just that I have seen that candle pattern time and time again. And it usually leads to a downmove
If you think you can or cannot do it you are correct
  • #5,204
  • May 28, 2015 5:31pm May 28, 2015 5:31pm
UsdCad

Forgot to add this to the comments on the chart. This can be traded in 2 ways. Short at market with a stop above the high of the inverse hammer (adjusting trade size to account for a stop of 100pips or thereabouts) or go conservative by going for a 32.8% or a 50% fib retracement of the inverse candle (this will make the trade size bigger because of the smaller stop required but you could miss the trade altogether)
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If you think you can or cannot do it you are correct
  • #5,205
  • May 28, 2015 8:05pm May 28, 2015 8:05pm
Quoting Olu
{quote} Agreed SunTrader. That is indeed the interpretation. It is just that I have seen that candle pattern time and time again. And it usually leads to a downmove
Could well be. I didn't give an opinion either way. Now I'll say funnymentally I think down soon. But technically at the moment to me it says up.
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  • #5,206
  • May 28, 2015 9:06pm May 28, 2015 9:06pm
Quoting trexy123
I am confused about what I see. there is conflicting divergence signal on macd? {image}
That's not divergence.
Connect highs/lows on price & indicator.
If price & indicator don't agree, that's "divergence".
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  • #5,207
  • May 28, 2015 9:15pm May 28, 2015 9:15pm
Divergence is when there is a difference between two measurements. Any two measurements. Not just price and indicator.

But as in MACD and its histogram - like the chart shows.
  • #5,208
  • May 29, 2015 1:36am May 29, 2015 1:36am
Quoting Olu
UsdCad Forgot to add this to the comments on the chart. This can be traded in 2 ways. Short at market with a stop above the high of the inverse hammer (adjusting trade size to account for a stop of 100pips or thereabouts) or go conservative by going for a 32.8% or a 50% fib retracement of the inverse candle (this will make the trade size bigger because of the smaller stop required but you could miss the trade altogether) {image}
Hi Olu, much prefer your 1st option for the downside potential with stop.
Reason as:
http://www.forexfactory.com/showthre...80#post8290980
Elliott Wave for optimum entry, exit and risk management of trades
  • #5,209
  • May 29, 2015 5:09am May 29, 2015 5:09am
EurCad
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If you think you can or cannot do it you are correct
  • #5,210
  • May 29, 2015 5:15am May 29, 2015 5:15am
Quoting skyhok
{quote} Hi Olu, much prefer your 1st option for the downside potential with stop. Reason as: http://www.forexfactory.com/showthre...80#post8290980
I am in that camp as well. I like to be in and adjust trade size. Thanks for the link. First I am hearing of the thread. The implication of your chart for the usdcad is dire. It could be the perfect 'sell and hold' long term trade if it plays out as on the chart. Thanks
If you think you can or cannot do it you are correct
  • #5,211
  • Edited 5:48am May 29, 2015 5:17am | Edited 5:48am
Quoting srt
{quote} That's not divergence. Connect highs/lows on price & indicator. If price & indicator don't agree, that's "divergence". {image}
Thanks Srt for the pic. A picture says a thousand words they say. In this case I think it said a million words
If you think you can or cannot do it you are correct
  • #5,212
  • May 29, 2015 5:51am May 29, 2015 5:51am
Quoting SunTrader
{quote}Now I'll say funnymentally I think down soon. But technically at the moment to me it says up. {image}
We are in agreement SunTrader. Yesterday's price action sowed that there was still life in this commodity
If you think you can or cannot do it you are correct
  • #5,213
  • May 31, 2015 11:04am May 31, 2015 11:04am
Hello 9-5'rs,

The question by one follower is "can you trade the monthly's/weekly's."

My answer is yes yes yes and you should be with a 9-5 job.

Olu and I have had many discussions on the big charts...they never lie.

We talked about the Yen trade along time ago as it was at EXTREME ALL TIME HIGHS and had a low 80's target.

Yes, it does take the patience of St. Gabriel but it will vastly improve your profits and mind.

humble golfer

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  • #5,214
  • May 31, 2015 3:00pm May 31, 2015 3:00pm
Quoting golferfx
Hello 9-5'rs, The question by one follower is "can you trade the monthly's/weekly's." My answer is yes yes yes and you should be with a 9-5 job. Olu and I have had many discussions on the big charts...they never lie. We talked about the Yen trade along time ago as it was at EXTREME ALL TIME HIGHS and had a low 80's target. Yes, it does take the patience of St. Gabriel but it will vastly improve your profits and mind. humble golfer {image}

Hi Golfer

Thanks for your post. Indeed I can confirm that we have had discussions about trading the higher timeframes - monthly and weekly. In fact it was our discusssion that made me investigate and move to higher timeframes than what I was doing before. And yes we did talk about that yen move. I got a good bit of the move here and there but I could have gotten more if I stuck solely to the higher timeframe paradigm
Thanks for your post Golfer
If you think you can or cannot do it you are correct
  • #5,215
  • Jun 4, 2015 8:27am Jun 4, 2015 8:27am
EurGbp

I am bearish this pair
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If you think you can or cannot do it you are correct
  • #5,216
  • Jun 4, 2015 9:48am Jun 4, 2015 9:48am
Quoting Olu
EurGbp I am bearish this pair {image}
Hi,

Not on Oil?
I was expecting your post yesterday

"Almost" BEOB, engulfing south, strong divergence on RSI, off clear resistance, towards obvious support by 57-58...
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Slow & steady
  • #5,217
  • Jun 4, 2015 3:28pm Jun 4, 2015 3:28pm
Quoting patapouer
{quote} Hi, Not on Oil? I was expecting your post yesterday "Almost" BEOB, engulfing south, strong divergence on RSI, off clear resistance, towards obvious support by 57-58... {image}
Hi P

Thanks for your post. I wanted to post about oil but got distracted when I saw the eurgbp. Your observation is correct and technically it spells more downside for oil. I did not expect a move back up to 60 though even though it wasnt enough to change/cancel the idea. We just need some $ strength and it will happen very quickly
If you think you can or cannot do it you are correct
  • #5,218
  • Jun 6, 2015 12:06pm Jun 6, 2015 12:06pm
EurGbp
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If you think you can or cannot do it you are correct
  • #5,219
  • Jun 10, 2015 7:11pm Jun 10, 2015 7:11pm
Shorted oil yesterday , a lot of loss now
  • #5,220
  • Jun 10, 2015 7:45pm Jun 10, 2015 7:45pm
Quoting trexy123
Shorted oil yesterday , a lot of loss now
Yesterday was near demand area.
Moving in a sideways channel.
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