Divergence Pip Range Trading

Hi one and all, (I'm confident it is just one reader, haha)

It's very rare I trade before the European open but I was watching the Aussie data release at 10.30 local time and I saw a nice setup and thought it was a good opportunity.

Here's the 15 minute chart showing price reaching the 85 EMA and also the cam level. I love these confluences.



On the pip range chart, price made a higher high whilst the AO didn't. The trade took an awful lot longer than I anticipated and teased me several times with 1.3945 area. I extended my original TP by 6 pips to 1.3937 for a nice +29 pip trade to start the day.



Plenty of data to come tonight/today.

A frustrating trade on GBPAUD. I saw the bounce from daily lows and felt price had reached a level where it had a chance of going lower again. Price made a series of bearish pinbars and the AO made a nice setup.

Perhaps targeted a bit too much at 1.5918 and had the opportunity to take +23 but didn't and ended up closing for +3. I certainly didn't want to let the trade turn into a loss. And the golden rule is, there are always better setups.

Perhaps a slightly fortuitous trade here but I knew I wanted to be out pre BOE announcement.

After exiting my first GBPAUD trade for +3, I waited for a new setup. GBPAUD rallied higher but again looked like faltering with some bearish PA.

Exited for +15.

Last day of the week, let's see what it has to offer. Fingers crossed for a good night.

Got some action on GBPAUD, could be an interesting trade.

GBPAUD trade has finished and it took a couple of bites to get it right. Intially entered on the belief it was rallying at the start of the London open for a potential to reverse. The mistake I made was entering without any sign of it slowing down and I wasn't really that close to any useful support/resistance levels. That being said, I let the trade develop and once the double top was made and the AO made a significant lower high, I took that as a good sign and entered again. A good result overall with +10 and +30 respectively.



Also had a trade on EURUSD as it's not correlated to GBPAUD. This trade had a lot to do with where it was positioned in relation to resistance. It was around 4 pips shy of a level I felt would be a key area and decided it was a worthwhile trade. I always view my trades as a series of expectancy and as I long as I feel I have an edge by entering at the correct level, I'll always take the trade.



I also have started a new community for flip flop traders and the link is in my profile.

Last trade of the night on EURAUD, lets see how it goes.

Target hit, time for some sleep . Chart to follow in the morning.

Woke up too late to catch the charts before the weekend close.

EURAUD was bouncing along and the AO made a decent higher low and felt it was a good chance of going higher.



Hopefully more of the same this week.

Bit of a slow start to the week thus far, waiting for some action!

Still haven't had a trade but did manage to put together a quick video...

Grabbed a trade on GBPAUD, let's see how it goes.

Taken +22 which is short of overall target but struggling to stay awake. Chart to follow in the morning.

Sleep is overrated! Nice one though.

Only the one trade last night and perhaps a fortunate exit. GBPAUD had the look of bouncing from well used support and as I hadn't had a trade yet, I probably entered a few pips too soon. I was originally looking for a 30+ pip trade but it was getting close to midnight and I was extremely tired and wanted to bank some pips. I closed the trade for +22 which turned out to be a smart exit as the Pound dropped significantly not long after that.

However, as the great Gary Player has said, '' The more I practice, the luckier I get.''

Attached Image (click to enlarge)

''The more I practice, the luckier I get''.

One of my favourite quotes!

Busy Asian session with plenty of movement, hoping some opportunities arise during London session.

First trade of the night with EURAUD. I'd been watching it climb all day and I was extremely tempted to get involved earlier but past experience has taught me to wait for my window and that paid off again.

It'll be interesting to see if the upside momentum can continue or will revert back into the downtrend?

Post news trade on GBPUSD, it had a mighty rise and 1.2460 for me was just too good an area to turn down for a chance that it might come off several pips.

+14 pips.

By exiting the GBPUSD trade, it allowed me to short EURUSD which was right on session highs. It was also well over its usual ADR and similar to GBPUSD, felt it was a worthy level at getting a reversal.