Disliked{quote} Works well. I haven't found that many opportunities lately though. I am now more patient and wait for clear patterns such as those in the pic below. I only trade the 4 hr wich gives around 3-5 trades a week. When I find one, I look at higher timeframes (daily, weekly) to confirm the direction of the trend. That is the main force of hidden divergence, it signals a move in the direction of the trend. {image}Ignored
- #663
- Aug 12, 2016 6:59am Aug 12, 2016 6:59am
- Joined Jan 2009 | Status: Trader | 1,987 Posts
Watching closely the Aussie. Might bounce on the trendline.
- #664
- Aug 12, 2016 7:13am Aug 12, 2016 7:13am
- Joined Jan 2009 | Status: Trader | 1,987 Posts
Same for this one. You never know.
- #666
- Aug 12, 2016 7:40am Aug 12, 2016 7:40am
- Joined Jan 2009 | Status: Trader | 1,987 Posts
{quote} Hi Chamane what's the spread on GBPNZD ?
- #671
- Aug 12, 2016 2:26pm Aug 12, 2016 2:26pm
- Joined Jan 2009 | Status: Trader | 1,987 Posts
{quote} Is that by looking at trends or looking at say gbp and if there all headed in 1 direction
I entered at 9:00 EDT when price closed above kijun, tenkan and the downwards trendline on the 4HR timeframe. At that time, there was (and there is still) a clear uptrend on the daily and the weekly timeframes. This is a sign that the Aussie and the kiwi are among the strongest currencies whereas the USD is among the weakest. Unfortunately for me, there were major news on the USD this morning (8:30 and 10:00 EDT) that probably caused a burst on the USD and I got stopped out. A lesson for me as well. But if you look earlier on the 4HR timeframe (dotted lines), there was another successful HD opportunity.
Getting back to currency strength, here are links describing different methods you can use:
link 1
link 2
Personally, I use a combination of the two. I compare price of all the yen pairs with a 200 ema on a 4HR timeframe. Then I rank the currencies accordingly. The yen goes between the negative and the positive results. Then I match the two strongest with the two weakest currencies. I am attaching the spreadsheet I use.
