REVERSE - IMPULSE System - page 16
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it's very effective. I love it. Thank u forex princess.
Welcome yachli
cant wait to try other pairs. because signal in one currency with harmonic pattern is not often.
forward test on eur jpy harmonic pattern. Dragon
Regular Divegrence Entry
lets see what happens..
already up 40pips
what do you think?
regular divergence ? time to buy?
@yachli: Concerning the divergence, I red in a book called "Trading Divergences" by Alexander Elder that the real regular divergence doesn't suppose only to have that well-known condition ( LL/HH on price, HL/LH on indi ), but also that between the two pivots which define the divergence, the indi should overpass some middle line after the first pivot, and repass again that line in order to form the second pivot. In that book, it was about MACD, so the middle line was the zero line of MACD. In our case, I consider as a dynamic middle line the SMA10 of RSI.
I tested this rule and, for me, it seems that it's a good one.
So, according to Elder's rule, there was no divergence there.
cool
nice system. and lots of signals!!
there was a signal here before. but dissapeared , maybe because of candle close.. but still managed when there is regular divengence!!! @sogard, did you see this?
No. I missed it. It was already evening here - I live in Romania, Europe. It was already enough trading for me at that hour!
But congrats for a good one! So another winner on repainting situation!
Let's count them!
If I would have been connected to the market, I would definitely taken this one!
So, according to Elder's rule, there was no divergence there.
nice refererence regarding divergence.
@Seckit:
Here there are my reasons for the yesterday trade:
H4:
- the price approached a resistance line which resisted
at two previous tentatives of breaking: in 15-17 apr and in 18 apr;
- Sto and RSI were set for a hidden div ( just set, not confirmed );
H1:
- the price approached the weekly pivot ( white continuous line ) and weekly open ( white dot-dash line ) - in the same region with the above H4 line;
So I ANTICIPATED that the price will reverse there and I set some orders accordingly, with SL somewhere above that region. But this kind of anticipation is the long-term death of any account.
Instead, a wise decision were to enter on the M5 divergence ( with a small risk ) and add a position when the same kind of pin-bar has formed ( and closed ) on both H4 and H1. This is kind of a rare event ( like a planets alignment
) and, if occurs near some S/R lines ( like in this case ), it's a good signal to trade.
Welcome yachli
what ZUP version u use princessfx..