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Zelias Jan 11, 2019 4:28am | Post# 1021

Alan's divergence on M15. Most likely, the bulls will now come back. Let's wait and see {image}
Agreed. From my observations, either a deeper correction (taking place now) for more downside, or the bulls stepping in harder (not supported by H1 at present, but the H1 candle is still open and with the news anything could happen). GL

Bydyke Jan 11, 2019 4:29am | Post# 1022

For my last entry, didn't wait for my SL. Exited the moment M15 closed at 2747 after touching 2762, for a loss of 3 pips.

That is the risk that results whenever a trade is taken without the confirmation provided by a bull or bear support

Bydyke Jan 11, 2019 5:11am | Post# 1023

Entered long at 2737. Exited at 2770. Didn't want to take chances as the bull support is yet to manifest. Have put a buy order at 2772.

Time now to get our bull support and I am eyeing 2752.

M5 has just done a hi-lo. Advisable to remove all longs for now until the bull support is ascertained

mikeeating Jan 11, 2019 6:01am | Post# 1024

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always good to go back and revisit the moves and knowledge donated before. So much gold in this thread
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quangvision Jan 11, 2019 6:11am | Post# 1025

Bearish RSI Div H1 infers failed effort to pull average to break last swing highs. Found entry on M5, let's see how it turns out.
Thanks

Gleam Jan 11, 2019 6:17am | Post# 1026

always good to go back and revisit the moves and knowledge donated before. So much gold in this thread {image}
Yah I agree....and very very big thanks to Alan for such valuable knowledge.
Spend a good time in weekend..

Zelias Jan 11, 2019 6:19am | Post# 1027

Bearish RSI Div H1 infers failed effort to pull average to break last swing highs. Found entry on M5, let's see how it turns out. Thanks
What bearish RSI div on H1? Care

Nala66 Jan 11, 2019 6:25am | Post# 1028

{quote} Hi Alan, Just to confirm, you draw your Bear support from the bar furthest to the left (purple arrow, where your yellow line begins), correct? Or is it from either my right arrow or your yellow arrow? {image} Thanks
I put the first pink arrow directly above the bear support.

Nala66 Jan 11, 2019 6:29am | Post# 1029

Alan's divergence on M15. Most likely, the bulls will now come back. Let's wait and see {image}
And they sure did firing on all cylinders while I was busy watching the cricket.

Nala66 Jan 11, 2019 6:30am | Post# 1030

Im out now. Thanks again Alan for invaluable insight {image}
Good stuff Mike

Riaanvw Jan 11, 2019 6:31am | Post# 1031

I took a stop on my long this morning of 10 pips after seeing the 1hr Div afterwards which Alan pointed out. I have a chart on GBP AUD I would like to post just for visual purposes to show some more things to consider in the valley area with the 2 bar tests, any objections on posting GBP AUD?

Zelias Jan 11, 2019 6:33am | Post# 1032

{quote} I put the first pink arrow directly above the bear support.
Hope the cricket game was/is nice. The one we've been playing has been great

Do you mean that my first pink arrow (furthest to the left) is where bear support is drawn from?

Nala66 Jan 11, 2019 6:38am | Post# 1033

always good to go back and revisit the moves and knowledge donated before. So much gold in this thread {image}
Exactly Mike and print them off once a week for reference

Nala66 Jan 11, 2019 6:41am | Post# 1034

{quote} Hope the cricket game was/is nice. The one we've been playing has been great Do you mean that my first pink arrow (furthest to the left) is where bear support is drawn from?
MMM I thought that was a copy of my chart...Yes the first pink arrow.

Nala66 Jan 11, 2019 6:42am | Post# 1035

I took a stop on my long this morning of 10 pips after seeing the 1hr Div afterwards which Alan pointed out. I have a chart on GBP AUD I would like to post just for visual purposes to show some more things to consider in the valley area with the 2 bar tests, any objections on posting GBP AUD?
Go right ahead Riaan if it helps folks to understand the processes.

Nala66 Jan 11, 2019 7:09am | Post# 1036

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Examples of some Bull and Bear supports on the 1 min chart
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Riaanvw Jan 11, 2019 7:15am | Post# 1037

Examples of some Bull and Bear supports on the 1 min chart {image}
Thanks Alan

Riaanvw Jan 11, 2019 7:17am | Post# 1038

2 Attachment(s)
{quote} Go right ahead Riaan if it helps folks to understand the processes.
Ok so I had this trade that I took but afterwards noticed my stops being in the wrong place and yes we want tight stops but we also need to look at how the Divergence is being formed as well....
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Riaanvw Jan 11, 2019 7:23am | Post# 1039

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+50 pips
Not sure if you guys are into the whole supply/demand thing but here goes...

We dont want the reliability of the setups to be skewed just because our stops are in the wrong place so sometimes we might need to have bigger stops because we dont want it to stop us out and then go on to target either so look at how this divergence was formed. I have marked it on the chart as a demand level so if the divergence is formed like this we just need to be aware of it and accept that bigger stop on this type of divergence formation might be necessary
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Riaanvw Jan 11, 2019 7:23am | Post# 1040

See how initially I had my stops in the wrong place but then moved them to below the demand bar


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