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Divergence Pip Range Trading

  • #281
  • Feb 1, 2017 3:35pm Feb 1, 2017 3:35pm
I managed to find a trade after the movie, GBPUSD was moving higher on general US Dollar weakness but was coming very close to a good level of resistance around the 1.2650 area. I entered probably a touch too soon at 1.2623 but took a further entry at 1.2644 which was most likely the correct spot. Held them until 1.2615 for a good result.

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  • #282
  • Feb 2, 2017 5:22am Feb 2, 2017 5:22am
Okay, ready for some action after a nice 9 holes of evening golf. Very sweaty but enjoyable.

Lots of fundamental news due out this evening so I'll be treading carefully.
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  • #283
  • Feb 2, 2017 7:32am Feb 2, 2017 7:32am
After watching the absolute carnage on GBP pairs, I'm in a short on EURUSD from 1.0813.

Absolutely huge 400 pip move on GBPAUD and had the urge to try and long it but stayed away and realised that it's simply a one way train and didn't pick any decent entries to catch the ride down.
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  • #284
  • Feb 2, 2017 7:43am Feb 2, 2017 7:43am
Taking my ball and turning in for the night with the stop at -15. Will post chart in the morning, perception probably being affected by the sheer weakness of the GBP.

NFP tomorrow so plenty to look forward to.
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  • #285
  • Feb 3, 2017 4:02am Feb 3, 2017 4:02am
Quoting FlipFlopGC
Taking my ball and turning in for the night with the stop at -15. Will post chart in the morning, perception probably being affected by the sheer weakness of the GBP. NFP tomorrow so plenty to look forward to.
Well, an adventurous trade and probably a fortuitous one and a big advantage of having a broker with extremely good spreads. IC Markets ECN offer zero spread on EURUSD during peak trading hours and this trade missed my stop by 0.1 of a pip. I was in two minds whether to hold it or fold at breakeven (which I did) given the main theme had been broad US Dollar weakness but then the GBP was massively weak and I thought this could in turn drag the Euro down with it. A good thought provoking trade and one perhaps I should have benefited more from?

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First trade of the night tonight came on GBPAUD and was just a straight forward play of the break of the daily low on the back of further weaker GBP news. Given GBPAUDs nature to have dramatic moves it seemed a good possibility that price could accelerate lower towards yesterday's lows. It missed by 2 pips or so but exited the trade for +25 and a good way to start the night.

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  • #286
  • Feb 3, 2017 4:20am Feb 3, 2017 4:20am
I'm currently trying to understand the ichimoku indicator (i started 1 month ago) to include in my methodology but I started to see that after all it doesn't play a great role in my trading because I keep looking to my old methods to confirm my trades. How does ichimoku play a role in your decision, you really use it or is just to comfort your mind? If you didn't use it you will feel the difference?
  • #287
  • Feb 3, 2017 4:27am Feb 3, 2017 4:27am
Quoting Manel9530
I'm currently trying to understand the ichimoku indicator (i started 1 month ago) to include in my methodology but I started to see that after all it doesn't play a great role in my trading because I keep looking to my old methods to confirm my trades. How does ichimoku play a role in your decision, you really use it or is just to comfort your mind? If you didn't use it you will feel the difference?
Hi Manel, this is something that I occasionally think about. It doesn't play a primary key decision maker but I would say I use it to support a trade idea. Whether price is below/above the Tenkan Sen or is price being held in the cloud and look at how price is reacting to it, these are the processes I look at when forming a trade idea.
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  • #288
  • Feb 3, 2017 4:42am Feb 3, 2017 4:42am
Quoting FlipFlopGC
{quote} Hi Manel, this is something that I occasionally think about. It doesn't play a primary key decision maker but I would say I use it to support a trade idea. Whether price is below/above the Tenkan Sen or is price being held in the cloud and look at how price is reacting to it, these are the processes I look at when forming a trade idea.
Thanks for your reply, its the same feeling i get too, not our primary key decision but is something need to feel the pulse of the market
  • #289
  • Feb 3, 2017 6:14am Feb 3, 2017 6:14am
A small trade here on GBPUSD prior to the NFP data later this evening. Whilst GBPUSD was absolutely hosed down yesterday, on the 4 hour chart, price is still by definition in an uptrend and price was reaching the EMA and support level:

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With this in mind and a theory that I have that price will often stay within a defined range prior to NFP data, I felt this was a reasonably low risk trade. I didn't quite time the entry but pulled out 10 pips.

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Not sure i'll stay up for NFP (11.30pm local time) as it's been a massive week on which I'll expand on over the weekend. Will see how i'm feeling.
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  • #290
  • Feb 3, 2017 7:29am Feb 3, 2017 7:29am
Quoting FlipFlopGC
A small trade here on GBPUSD prior to the NFP data later this evening. Whilst GBPUSD was absolutely hosed down yesterday, on the 4 hour chart, price is still by definition in an uptrend and price was reaching the EMA and support level: gbpusd-h4-international-capital-markets (2).png;2171002 With this in mind and a theory that I have that price will often stay within a defined range prior to NFP data, I felt this was a reasonably low risk trade. I didn't quite time the entry but pulled out 10 pips. gbpusd-m3-international-capital-markets (23).png;2171005...
Hey flip flop! Looks like thing s are going well for you. Keep up the good work
  • #291
  • Feb 3, 2017 7:01pm Feb 3, 2017 7:01pm
Thanks, Hann, hope your trading is going well.
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  • #292
  • Feb 6, 2017 3:17am Feb 6, 2017 3:17am
Another week begins!

A small trade on EURUSD and the timing was everything. Whilst I don't trade from time based charts, I do often pay attention to the time I am entering a trade. From my perspective quite frequently you will see a large sized move followed immediately by a retrace on the time based charts. This is more prevalent during a ranging period and not a trending move. +11 pips.

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  • #293
  • Feb 6, 2017 4:00am Feb 6, 2017 4:00am
I've spoken about the daily open level fairly recently and another trade from the activity on the daily open level on GBPAUD.

Price descended to the opening area and the AO made a substantially higher low. +25.


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Most likely done for the night but will keep an eye out for any further setups.
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  • #294
  • Feb 7, 2017 2:44am Feb 7, 2017 2:44am
An interesting start to the day with some very large moves firstly in AUD pairs earlier in the day and then to kick off the London session the Pound went on an absolute tear. I haven't found the source yet, maybe some stops being triggered plus a rebound in USD strength.

Anyway, I was focusing on GBPAUD going into the London open and whilst the 1st entry was a little duff, the 2nd felt much better.

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  • #295
  • Feb 7, 2017 3:50pm Feb 7, 2017 3:50pm
I did a further trade last night that seemed to take forever to develop and I ended up going to bed before a final result eventuated as I was just too tired. EURAUD after drifting off prior to the UK session spent most of the UK session ambling upwards until it reached a good level of potential resistance at 1.4015 area. Price continued to make tops whilst the AO made much lower highs. Took +20.

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  • #296
  • Feb 8, 2017 2:03am Feb 8, 2017 2:03am
Hump day is here!

A little bit of a frustrating trade despite it being a good result. I was extremely cautious that the range was only 44 pips on GBPAUD and I took the approach of going in with half size to potentially add to the trade if it kept going higher which I felt it could do. However, price pretty much reversed straight off the 1.6400 level and managed to take +21 pips or 11 pips at full size.

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  • #297
  • Feb 8, 2017 2:34am Feb 8, 2017 2:34am
GBPAUD going up and down like a yoyo.

Here's a 15 min chart and why I was interested in the long:

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Given the overall trend is still currently long aswell, it seemed a logical trade. I added to the trade once price had cleared the Tenkan San and a good trade for +30 overall.

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  • #298
  • Feb 8, 2017 7:21am Feb 8, 2017 7:21am
Blimey, what an insanely boring UK session that was! Tedious to watch but grinding away can sometimes be that way.

Last trade of the night on EURUSD prior to NY open with price seeming to find support on at the 1.0645 area. Took +23 which is actually the best result I've had on EURUSD for quite some time.

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  • #299
  • Feb 9, 2017 3:56am Feb 9, 2017 3:56am
Morning. An interesting trade here on GBPAUD. The Pound pumped higher on order flow given there was no news being reported on the wires and GBPAUD reached a good level of potential activity. More than likely entered a touch too soon but given the volatility it was always going to be tricky picking the perfect entry. The exit is an interesting part as I had my target set at 1.6455. I'm still searching for what has caused the dump but price has firmly accelerated to session lows.

Attached Image (click to enlarge)
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  • #300
  • Feb 9, 2017 5:42am Feb 9, 2017 5:42am
Final trade of the night with GBPUSD popping to session highs and straight into the cam level on the time based chart. These work time and time again and cannot iterate how reliable and how useful I find them. I have also decided to remove the CCI from my charts and will stick with just the AO.

Price had failed to clear 1.2555 a few times and originally had my TP at 1.2552 but extended it down to 1.2548 on the priviso once it broke, it should skittle a few pips further which it duly did. A good end to a solid evening's work.

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Back tomorrow.
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