DislikedDivergence experts : when it comes to candles which should i consider, the open/close or the high/low ?Ignored
- #521
- Edited 3:50pm May 18, 2016 11:30am | Edited 3:50pm
- Joined Jan 2009 | Status: Trader | 1,987 Posts
- #523
- May 23, 2016 9:03pm May 23, 2016 9:03pm
- Joined Jan 2009 | Status: Trader | 1,987 Posts
Waiting for a cross of the support line.
- #524
- May 23, 2016 9:11pm May 23, 2016 9:11pm
- Joined Jan 2009 | Status: Trader | 1,987 Posts
Confluence of HD lines. A good entry sign would be the cross of Tenkan and Kijun.
- #525
- May 23, 2016 9:19pm May 23, 2016 9:19pm
- Joined Jan 2009 | Status: Trader | 1,987 Posts
Too late on this one. The move has already started across Kijun. It was not a good entry anyway because of the spread too high (14 pips).
- #526
- May 24, 2016 6:28am May 24, 2016 6:28am
- Joined Jan 2009 | Status: Trader | 1,987 Posts
Confluence of HD lines. A good entry sign would be the cross of Tenkan and Kijun. {image}
- #527
- May 24, 2016 8:13am May 24, 2016 8:13am
- Joined Jan 2009 | Status: Trader | 1,987 Posts
Waiting for a cross of the support line. {image}
- #528
- May 25, 2016 12:36pm May 25, 2016 12:36pm
- Joined Jan 2009 | Status: Trader | 1,987 Posts
Entering after an engulfing candle.
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- #531
- May 27, 2016 10:26am May 27, 2016 10:26am
- Joined Jan 2009 | Status: Trader | 1,987 Posts
Another example: 
- Hidden divergence with two indicators
- Retracement at the 76.4 fib level
- Cross of Tenkan and Kijun
- Cross of trendline
This is the second HD in a row (see post #527) on a steady down trend.
- #532
- May 27, 2016 10:55am May 27, 2016 10:55am
- Joined Jan 2009 | Status: Trader | 1,987 Posts
Although we get many favourable signs here for an entry, there seems to be some kind of hesitation starting with a long wick on the trigger candle (circle). I will pass on this one.
- #535
- Edited 6:27pm May 27, 2016 1:33pm | Edited 6:27pm
- Joined Jan 2009 | Status: Trader | 1,987 Posts
On this Friday afternoon, I like to look at smaller TF. I don't trade them usually because they show more noise. In this case, the pattern is clear and all went right: 
I also look for a direct divergence at a smaller timeframe that adds up to the confluence signs. If the risk is too high, I don't enter. When price reaches half the risk, I bring my stop level to breakeven. I get stopped out more often, but I think it is a better way of protecting my capital.
- A start of a trend, in this case downwards
- Hidden divergence with 2 different indicators
- Retracement at a major or minor Fib level, in this case 50
- Cross of the Tenkan and Kijun Ichimoku lines
- Cross of a trendline
- Engulfing candle. In this case, the down wick looks greater than 25% of the whole candle. The ideal engulfing should have its close near high/low.
I also look for a direct divergence at a smaller timeframe that adds up to the confluence signs. If the risk is too high, I don't enter. When price reaches half the risk, I bring my stop level to breakeven. I get stopped out more often, but I think it is a better way of protecting my capital.
- #536
- May 27, 2016 1:40pm May 27, 2016 1:40pm
- Joined Jan 2009 | Status: Trader | 1,987 Posts
Too late on this one too. It doesn't always work, but lots of them do. I wish I could backtest divergence easily.
- #537
- May 27, 2016 1:44pm May 27, 2016 1:44pm
- Joined Jan 2009 | Status: Trader | 1,987 Posts
Here is an opportunity. Waiting for price to cross the trendline. I won't take it if it ever happens because of the 10 pip spread my broker offers me...
- #538
- May 27, 2016 3:47pm May 27, 2016 3:47pm
- Joined Jan 2009 | Status: Trader | 1,987 Posts
Here is one I took. I hesitated at first because of the 6 pip spread and a 10 pip risk. Looks good so far.
- #539
- Edited 7:36pm May 27, 2016 6:47pm | Edited 7:36pm
- Joined Jan 2009 | Status: Trader | 1,987 Posts
Here is a wrapup for the week on the 4hr timeframe. There has been some good opportunities (12) among the 28 pairs that I am following, plus gold and silver. There was barely any opportunity the week before on 4HR but I didn't check lower timeframes. Most of this week's trades were profitable considering RR 1:1, a few are still opened with some loss. You can judge by yourself with the images below.
The number of pips to be made depends on the money management. All suggestions welcome.
The number of pips to be made depends on the money management. All suggestions welcome.
- #540
- May 29, 2016 5:44pm May 29, 2016 5:44pm
- Joined Jan 2009 | Status: Trader | 1,987 Posts
Awaiting another opportunity for price to cross Tenkan-sen downwards and get out of the cloud.
