Divergence Pip Range Trading

Will call it a night here and get some sleep. Back tomorrow.

Another day is upon us.

It'll be interesting to see if the continued weak US Dollar comes through again.

First trade of the night with GBPAUD. I think the more examples I look at, the more I realise the best examples are when price flattens out like in the example and the AO makes a significantly lower high (for a sell). Over the weekend I'm going to catalogue all of the trades and see if the data backs up my initial thoughts.

what time frame are you trading? 1hr or 30mins

ven

Hi Ven,

Take less than 2 minutes and read the first post, all answers there.

I'm watching GBPUSD for a potential trade and everything is pointing to a long entry but I'm just not set on it yet. I thought I'd highlight the importance of the mental side of trading. GBPUSD may indeed rally meaning the trade would win but I'm not comfortable entering here due to a few doubts and I'd much prefer to attempt a long trade around 1.2435-40 area. 10 pips doesn't sound a lot but if I'm only looking for 10-15 pips, that is essentially my whole edge.

Never be afraid to walk away from a trade if it doesn't feel right. Remember, there are always better setups waiting.

With the above in mind, I got an entry at 1.2442 and had a target of 1.2455 which was where price last had support and could potentially become resistance.

The reason for wanting to wait for 1.2440 area is the following:



Price reverted higher from this point yesterday after the initial leg higher.

Pip range chart:



+13 pips and will call it a night.

Hi everyone,

As mentioned in post 383, I missed this setup as I was busy making my son's dinner.

Couldn't ask for a cleaner setup to start the day. Hopefully some more to come tonight.

Well, some great data out of the UK which has caused GBP pairs to fly.

I had a trade pre news where I felt a bounce could be possible and closed it prior to the news as I didn't want to be exposed to an essential 50/50 move. Closed for +1

Well, absolutely nothing of interest so will bow out and try again tomorrow.

Last day of the week and hopefully some good trades upcoming.

A tough trade here on EURAUD. It was a toss up between EURAUD and GBPAUD as both presented a very similar setup and due to the positioning of the Euro, I felt EURAUD might have the better chance of coming good. Whilst I gained +10, it was tough to watch as the target was missed by 0.3 pips for +20. And to add insult, GBPAUD hosed home.

Last trade of the night with EURUSD, keeping it simple and won't let this run too far if the upside looks to continue.

+10 and that'll do for a pretty quiet week. Back on Monday.

Have a good weekend everyone.

Hello one and all,

last week of March coming up and hopefully some good movement ahead.

I've done a little video to start the week:

First set of trades have finished. I jumped the gun a little with my initial entry before the London open and paid the price as it went north fairly smartly.

However, I'll often average in if I feel the setup is still valid. The 2nd entry was at 1.6480 which is a key area in terms of resistance. I view all of my trades as a series of expectations and over the long term it works out. I exited for -4 and +20 respectively.



I also have a trade running on EURUSD but as has been custom lately, it is moving at the proverbial snail's pace.

Whilst waiting for EURUSD to make its mind up, GBPAUD presented another opportunity.

Price found itself forming a tight range whilst ever so slightly making higher highs whilst the AO made a sharper lower high. As has been my focus lately, this seemed a strong setup. I originally was targeting +20 but moved it to +25 when price seemed to have some momentum behind it but once it started bouncing off 1.6465 area I was getting ready to exit. The confirmation was on the close above the Tenkan Sen and closed it for +15.

Here's the EURUSD trade/s. I broke it down into 2 trades. The first trade was from 1.08662 and came within a few pips of +15. The key decider in exiting for +2.5 was that price failed to make headway into the cloud. It managed to close within it but immediately rejected it and started to edge higher again. I much prefer to see a continuation of the move so closed it out.

The 2nd attempt was following the same original trade but at a better entry at 1.08688 but again price refused to clear the Tenkan Sen and the Senkou Span A and I closed it for +1. So all in all not a big result but a profit is always welcome and considering price has reverted higher again by 20 pips, I consider it a good result.

Last trade of the night on GBPUSD. It broke to new daily/session highs and was looking very over cooked and spotted what I thought was a good entry. Closed it out maybe too early at +10 but it's late here and time for some rest. Back tomorrow.