bbmac
Veteren member
- Messages
- 3,584
- Likes
- 789
Graeme;
This is the chart of the 15min gbpusd and you will see up at todays highs there was a bearish divergence pattern (I have cleared the main window of the chart just leaving the oscillators to show the bearish divergence pattern.)
Re your technique to test the divergence , and just to qualify using this example (which probably isn't the best eg) and assuming that this was your trigger chart , price sells off the highs at 1163 area to 1099 before a retrace back up to the 76.4% fib at 1042 area making a lower high with a nice bearish hammer candle, which would have given a good entry re this 'testing the divergence' technique?
My questions are:
1. On what chart do you use the technique, is it the trigger or the intermediate? bearing in mind that using the 1min as a trigger is noisy?
2. You mentioned the 61.8fib, so would you then not take a trade that went back above/below the 61.8 or like this example, if it spiked down or gave a good reversal candle, you would still enter?
Thanx mate.
This is the chart of the 15min gbpusd and you will see up at todays highs there was a bearish divergence pattern (I have cleared the main window of the chart just leaving the oscillators to show the bearish divergence pattern.)
Re your technique to test the divergence , and just to qualify using this example (which probably isn't the best eg) and assuming that this was your trigger chart , price sells off the highs at 1163 area to 1099 before a retrace back up to the 76.4% fib at 1042 area making a lower high with a nice bearish hammer candle, which would have given a good entry re this 'testing the divergence' technique?
My questions are:
1. On what chart do you use the technique, is it the trigger or the intermediate? bearing in mind that using the 1min as a trigger is noisy?
2. You mentioned the 61.8fib, so would you then not take a trade that went back above/below the 61.8 or like this example, if it spiked down or gave a good reversal candle, you would still enter?
Thanx mate.
Attachments
Last edited:
