Disliked{quote} 98% true. To be realy successful we need the 2% missing. Trading with real money makes this little difference. As you know it is the mental hurdle that keeps us away from the money. Technical a 10 year old boy could check the trades and pull the trigger. Even if you trade with very small lots, but real money on the table is the best mental training you can get.Ignored
EASY H1 trading using divergence and candle sticks
Piptime, let us talk a bit about the rsi settings, please. There are many different settings and nobody knows which one is best. I use rsi 5, close because 5 periods are a fib-number (fib is important in timing too), 5 is not too quick and not to slow, but the most important part is the levels. I use 15 and 85 as over S and over B. Very good trades are coming from these levels (any tf) and very, very good trades if you get divergences starting from those levels.
please have a look at this example of rsi 5, set to close, by using the level 85 (15) and checking three timeframes if price touches the level (blue rectangles) . In this case we got a kind of divergence only on M5.
(It is not about beeing right, it is about exchange of experiances
)
Hi Wolf,
That looks good. If you can successfully trade divergence on those timeframes then do it! I am more comfortable on the hourly and its working for me so im not gonna mess with something that is working 
.
Below is my trade for the day. I made a mistake on this trade, I went against my trading rules to test something out and ended up losing out on some profits. But the good news is I still made pips on it. Cheers everyone!
That looks good. If you can successfully trade divergence on those timeframes then do it!
I am more comfortable on the hourly and its working for me so im not gonna mess with something that is working .Below is my trade for the day. I made a mistake on this trade, I went against my trading rules to test something out and ended up losing out on some profits. But the good news is I still made pips on it. Cheers everyone!
Piptime, that was just a simple example of the settings we talked about the other day. Divergences in the H1 are the core we are looking for. What did you try and where did you make a mistake on your trade today? And could you please post your S+R indi please? That would be nice. ....BUT ONLY IF IT IS A FREE ONE. Maybe you paid a lot of money for it. In this case, please tell me where you got it from, thanks.
I have attached the indicator that I use for support and resistance.
I made a mistake of taking trades on the 15min tf. I knew that divergence was printing on the hourly but my impatience led me to try and catch the reversal on the 15 min tf. Unfortunately the reversal didnt happen at the time I took my first trade. It took a little over an hour for the reversal to happen, this causes me to put in my trade to soon.
{file}{file} {quote} Hey Wolf, I have attached the indicator that I use for support and resistance. I made a mistake of taking trades on the 15min tf. I knew that divergence was printing on the hourly but my impatience led me to try and catch the reversal on the 15 min tf. Unfortunately the reversal didnt happen at the time I took my first trade. It took a little over an hour for the reversal to happen, this causes me to put in my trade to soon.
thank you very much for sharing your indicator
I had the same problem about impatience today (again....and again...and again, oh boy). 77 bucks gone, great.
Same old story, losing is only about mental weakness, grrrr.
But with our little strat we will make the money back quickly.
- #1,395
- Nov 5, 2015 10:00am Nov 5, 2015 10:00am
Hey everyone. Here is a classic divergence trade that could have been taken.
Entry at 121.888. Get in right after reversal candle prints, I highlighted the reversal candle.
Exit (for me) would be at 121.678. Would be a nice 220 point gain.
Reasons to take this trade:
1.Divergence
2.Reversal Candlestick
3.Price hit 122.000. When price hits these round numbers it typically likes to reverse for a bit before making another run at it.
Reasons why I exit when I do.
1. I fear the market, yes it is not my friend. How many times have you got in a trade and it goes your way for a bit and then boom it reverses for a loss? Happened to me often when I first began trading. Get your money in and get it out with profits because making money is all that matters in this game, ego does not!
2.The market dropped 200+ pips in one hour, that is more than enough profits for me, I am very happy with that amount and you should be too. Don't be greedy, that will get you in trouble.
3.I know price is going to make another run at 122.000 but I don't know when it will decide to reverse and do that. Therefore I want to get out before it does.
Entry at 121.888. Get in right after reversal candle prints, I highlighted the reversal candle.
Exit (for me) would be at 121.678. Would be a nice 220 point gain.
Reasons to take this trade:
1.Divergence
2.Reversal Candlestick
3.Price hit 122.000. When price hits these round numbers it typically likes to reverse for a bit before making another run at it.
Reasons why I exit when I do.
1. I fear the market, yes it is not my friend. How many times have you got in a trade and it goes your way for a bit and then boom it reverses for a loss? Happened to me often when I first began trading. Get your money in and get it out with profits because making money is all that matters in this game, ego does not!
2.The market dropped 200+ pips in one hour, that is more than enough profits for me, I am very happy with that amount and you should be too. Don't be greedy, that will get you in trouble.
3.I know price is going to make another run at 122.000 but I don't know when it will decide to reverse and do that. Therefore I want to get out before it does.
- #1,398
- Nov 7, 2015 9:38am Nov 7, 2015 9:38am
Here is an example of Exaggerated Divergence that happened today on AUD/USD. A wonderful setup to make some easy pips fast! I marked the divergence on the chart and RSI indicator with a yellow line. {image}
- #1,399
- Nov 7, 2015 10:45am Nov 7, 2015 10:45am
Hi to all, this is the thread that I've been looking for.No complicate indicators and rainbow charts.Simple and cool. Correct me if I'm wrong but isn't this a very cool hidden divergence{image}
- #1,400
- Nov 7, 2015 10:45am Nov 7, 2015 10:45am
{quote} You are doing a good job posting your charts here. Keep up the good work