Monday, 24 October 2011

This is why I love AO Divergence

EUR/USD Hourly

Whenever I see a divergence, I'll be looking for a false break, a tight pattern or fail to break new high (abc pattern).

For this one there was a false break with bearish divergence bar, sell at 1.3879 (one tick below bdb low). Closed half of my position near support at 1.3830, + 49 pips and Closed half at 1.3770 (close above the green line), +109 pips... Total profit, +79 pips.


Monday, 17 October 2011

My Favorite abc Pattern on EUR/USD

EUR/USD Hourly

There is a potential abc pattern in the making with double divergence, wait for a false break, near high or a saddle point, tight pattern like in my previous setup...

Previous Setup:

Divergence in price and AO, go down to point a with tight pattern and then rebound to point b, fail to break previous high, come back down again and break the down fractal, enter sell at 1.3766, close half of my position at 1.3700 (near the support) just in case it breaks the support level, but it fails then close half at the bdb (point c) high at 1.3711.. total profit + 60 pips..

and now I'm waiting for another abc pattern...

Monday, 10 October 2011

EUR/USD Potential abc pattern

EUR/USD Hourly

We got an early signal of reversal, divergence between price and AO. Now I'm waiting for a saddle point, tight consolidation pattern or break support area to confirm the abc pattern...

Similar pattern on AUD/USD hourly chart...

UPDATE
EUR/USD Hourly

Failed to make abc pattern, price move higher break up fractal and AO also increasing.. oh well until next setup..

Tuesday, 4 October 2011

EUR/USD Breakout - Continuation Pattern

EUR/USD Hourly

Sideways throughout the day, then it breaks its support level, break the down fractal, a continuation pattern, Euro news still bad, 4 hour and daily chart all pointing down trend, and I missed it T_T

If you zoom out to 15 min chart, we'll have a nice entry there...

EUR/USD 15 min

Break the support level then it bounce back before it went back down again and break the down fractal (fractal below the support level). Sell at 1.3305. I'm lookin at 1.3200 now on my screen, a 100 pips move...

Oh well until next opportunity : )

Monday, 3 October 2011

GBP/USD

GBP/USD Hourly
Waiting for continuation pattern...

Sunday, 2 October 2011

GBP/USD Trade (26 - 30 sep)

GBP/USD Hourly

Same double top pattern with divergence like EUR/USD here but this one fail, enter fractal 2 breakout, missed fractal 1 breakout, sell at 1.5580, then price rebound at support, close my position at 1.5600 for -20 pips loss.

EUR/USD Trade (26 - 30 Sep)

EUR/USD Hourly

Double top with divergence between AO and Price, then it formed an abc pattern. Missed fractal 1 breakout, enter on fractal 2 breakout, sell at 1.3520, then i just got out for 100 pips at 1.3420..

Don't have the guts back then to add on, fractal no 3 and 4 breakout, still learning to wants what the market wants :)