Feeaga's Forex

Bolly Bands on Cable

2005-09-18T19:12:00.000-07:00

5 Min GBP

1 Min GBP

Positive divergence on both time frames and a break of the 20, 2 Bollinger band.

Fib Levels on the Cable

2005-09-13T17:52:00.000-07:00

I usually don't follow the cable but it gives me an idea of where the EUR may go so I decided to look at the most recent price moves and this is what I discovered.

On August 30th the cable reached a 38.2% fib level shown on the daily chart, if you look at the hourly chart bellow you can see there was positive divergence at this critical support level. A very nice 200-300 pip move in four days depending how aggressive one is.

Recently the cable reached a 61.8% fib level (daily chart) coupled with negative divergence on the hourly chart shown bellow. These technicals may have captured the psyche of the market or it could just be fundamentals at play but the cable dropped a staggering 315 pips in eight days, not a bad position to have.

I have never placed a position trade before, I primarily like intra day trades, but I can't ignore such a large move. While I take 5-20 pips a day from the market with great content I could take a 200-300 pips in a single position.

Now I'm not too familiar with the roll over interest but I assume that a healthy profit could have been made here. In the future I will be looking at larger charts with an intent to demo a few trades and see how my analysis fares.

Any questions or comments are welcome.

Cheers

2005-09-09T19:28:00.000-07:00

Long time no post, its been a busy couple of weeks for me.

Today there was a nice reversal at S1 at 8:00am est.

Have a great weekend

Cheers

2005-08-30T19:08:00.000-07:00

15 min EUR/USD
Today I found myself with a double bottom with divergence on OsMA & MACD with a CCI 14 hook @ ~200

A closer look on the 5 min you can see a nice reverse hammer with the CCI Hook as well as divergence on all other indicators. This all happened just under S.05 (M1), I find that there is usually a reversal at M1 or S1 after the London session once one of these supports are breached.

There is also reverse divergence on the 5 min chart, a possible retest of M1?

Hope everyone had a productive day

Cheers

2005-08-28T20:05:00.000-07:00

1 Hour negative divergence & at 61.8 Fib level

There is a nice entery on the five min chart, a good way to start the week off.

Cheers

Divergence Anyone?

2005-08-24T18:52:00.000-07:00

Today there was divergence at M1 which hesitated at the pivot and hesitated at R1 before resting at M4 after the US session.

Long time no post

2005-08-23T19:58:00.000-07:00

15 min EUR/USD

5 min EUR/USD

Divergence on both time frames at the Pivot and R1.

2005-08-16T18:35:00.000-07:00

Today there was some nice action, 2 positive divergence trades one in no mans land (between pivots) and one at S1.

Then there was a retracement to the 38.2 fib level that was also M1.

Cheers

2005-08-12T14:38:00.000-07:00

15 min EUR/USD

There was negative divergence on both the 15 and 5 min chart at M3 today.

5 Min EUR/USD

2005-08-10T16:19:00.000-07:00

5 min eur/usd

1 min eur/usd

August 9, 2005

2005-08-09T17:37:00.000-07:00

15 min Euro/USD
We had Negative divergence before the London Session right above R1 I like to consider anything above R1 an oversold area and the negative divergence simply confirms it for me.

I have also included a tredline (dotted line) that is at the Pivot Point it was once support and then became resistance after the break by the pivot point (notice the retest).
5 min

The negative Divergence is seen on the 5 min chart

There was also positive divergence at the central pivot point (counter trend trade) but stopped and retested the new support (trend line) and continued on its course.

Total range for the Euro today was 85 pips from 2 am EST to 9:40 am EST.

Happy trading everyone.

Any Ideas?

2005-08-04T14:54:00.000-07:00

I encountered this trade today.

I first reaction was a retracement so I plotted my Fib %

I waited to see what would happen, I first entered at the 32.8% because it seemed like the 34wma was a support
but price continued to swoon past the 50% mark to 61.8%.
Then I also noticed there was hidden divergence with a some bearish candles (doji). Of course price continued to swoon down. I ended closing the trade negative only to find out there was further upward movement.

My question is, should I have kept the trade open past the 61.8% mark being that I had entered at 32.8% mark? I was -17 pips at that point and I usually only keep a stop of 10-15 pips.

Also any ideas about the trade itself did I jump in to early would anyone else have tried this venture?

Or is this one of those trades that where never ment to be?

Better luck tomorrow after the news.

Cheers

August 4, 2005

2005-08-04T07:15:00.000-07:00

Today there was a double top at a resistance point, I did not take that trade even though there was a good short signal.

With a little patience one always finds a nice trade @5:30am EST. there was positive divergence at what I'd like to call a new found support level (1.2304)

Notice the positive divergence and a trend line that was once resistance now become support.

Cheers

August 3, 2005

2005-08-03T15:13:00.000-07:00

There was a large run up this morning, a nice entry point was at the mid point between the pivot and R1 (Hidden Divergence).

Also there was a nice entry at R2 (hidden divergence & CCI ZLR on a 1 min chart shown bellow).

These are demo trades and I used MT4 instead of GTS's platform today, reason being GTS does not have a decent histogram or CCI to spot the hidden divergence trades but MT4 does not have the MACD that the other platform has, any ideas?

Notice the Hidden Divergence and the ZLR on CCI off the bounce or R2.

Happy Trading.

August 01, 2005

2005-08-01T14:18:00.000-07:00

Today we had had a total of 5 divergence trades.
Four regular divergences and one hidden divergence, here is the picture of the 5 min chart. I have also attached a 1 min chart that corresponds with the 5 min chart.

The 1 min chart is used to acquire a better entry.

July 29, 2005

2005-07-29T14:39:00.000-07:00

Thank God it's Friday

Alright today was a good day for trading we had positive divergence at a support (1 & 5 min charts) which was a good trade up to the pivot.

I like to stay away from the news because of the iritic moves but there is usually a nice trade when the dust settles.

Later on we had negative divergence (15 & 5 min charts) even though it was not at a resistance level it was a good trade nun the less because of the candle formations.

After the large swoon in price there was an inverted hammer (bullish) a retest of the pivot and hidden divergence an indicator to close the trade and possible go long.

1 min chart positive divergence

I hope enjoys their weekend see everyone on Monday.

July 28, 2005

2005-07-28T14:36:00.000-07:00

Today there was some good action, first we had a retest of the Pivot point @ a 50% fib level and hidden divergence on the 5 min, I also noticed that there was regular divergence on the 1 min (please see chart below).

Later on there was a double top with regular divergence a nice entry for a short.

After a small swoon in price we had hidden divergence an indication to go long.

Regular Divergence on the 1 min

Hope everyone had a productive day and I just wanted to thank
Soul Trader http://soultraderdiary.blogspot.com/2005/06/hidden-divergence.html
and Graemenash http://www.graemenash.co.uk/blog/hiddiv.gif
for the hidden divergence posts, they have been very helpful.

Cheers.

July 27, 2005

2005-07-27T15:34:00.000-07:00

Today we had a 61.8 Fib level retested after a break of the mid point between the Pivot and S1 with multiple bearish hammers.

After the news today we had MACD divergence on both 15 and 5 min charts at S1, this was a good entry point due to the confluence of indicators to buy.

Later on we had a large move in price we had breached the pivot and where at a 38.2 Fib level with Hidden Divergence (not show on chart).

2 Trend trades and 1 reversal trend trade today.

July 26, 2005

2005-07-26T14:21:00.000-07:00

There was a nice trade in the morning at 8:40 est. when we had a bounce off S2 with positive divergence. My exit was the bounce of the trend line.

Monday July 25, 2005

2005-07-25T16:07:00.000-07:00

Today was a productive day for me, I took two signals off the 5 min chart of the Euro/USA.
First we had a few bearish candles coupled with divergence a nice opportunity to go short and exit at trend line i.e. support
Second we had a retest of the NY high which also had MACD divergence and created a 1-2-3 pattern also another nice short entry. I exited early from the trade because of the price projection that I calculated.

Today was good for 40 pips (15pips first trade and 30 pips for the second)

Wednesday July 20, 3005

2005-07-20T13:25:00.000-07:00

I typically do not like to trade on news days but what else is there to do in the morning? There was a support at 1.2089 that was tested three times, I entered at the retest of the broken trend line (bold line) and exited what appeared to be resistance between 1.2089 and the pivot. Total for the day: 16 pips…

Tuesday July 19, 2005

2005-07-19T14:27:00.000-07:00

15 Min chart EUR/USD 7:45am EST we have a doji and positive divergence on MACD

5 Min chart there is also positive divergence and a bullish hammer that coincides with the doji on the 15 min chart

I bought at the close of the Doji @ 1.1964

I jumped in a little early but I still had a signal to go long, the trade went against me 12 pips but the RR tracks that I saw form kept me in the trade. I also check my 5 min and I also saw RR.

The trade was closed at 10:55 am EST because I felt that the support was going to hold, notice how it looks like a double top.

There was a definite reentry at 11:25am EST. price touch the 50% fib level and there was hidden divergence (5min MACD Histogram), but I already had a good run for the day and I don't like to trade past 11am.

First Post...

2005-07-12T18:35:00.000-07:00

Hello everyone, I will be posting all of my demo trades along with my charts. I intend to make this blog an online trading journal, all questions or comments are welcome. Happy trading.