trading the momentum cycle

[padutrader]

Check out the hourly...

this is the 5 min negative divergence target may be the wedge trend line at least that is what i am hoping for

 

[_eug_]

thanks for posting a chart..
is there not momentum divergence on your chart.
this is a pull back on the hourly and a wedge shape

Can be argued that it is a bullish divergence and we are trending up towards that last resistance level which to me looks like its going to break and we will make new highs. This is a second test so more likely to break. I dont trade euro/usd but i guess all charts are the same...

Also I am just a beginner honing his chart reading skills, that's why I participate in your threads.

 

[smallfil]

That might be a good catch, but there are a half-dozen other technical trades on the chart. No comment on those?

Looks like it broke out of a consolidation pattern and moved up. Still moved up as expected after. I think he is looking at it from a hindsight point of view. You cannot go back in time.
What matters is when you entered "now" and where you exited in the "future."

 

[padutrader]

Your age isn't the issue. If you're bothering to trade at all, you want to make something of your effort... regardless of how old you are.

While the "200 day MA test...." trade ranks very high in my preferreds... it of course is not the only one. Others may not be as reliable/profitable as that but still very good and tradable. You would do well to sniff them out.

There are solid, profitable technical trades which occur EVERY DAY.... not as big and powerful as the previously described "200 MA test"... but still very valuable and worth trading.

you sound like Brooks....according to him...there are trades every 5 min ....i caught all of them ...only problem in 10 years i blew 50 accounts...maybe more...so ...i appreciate what you are saying but once bitten twice shy

 

[_eug_]

Also if you believe in correlated markets, look like Dollar is gaining strength in Gold right now as well. Breakout imminent.

 

[padutrader]

Also I am just a beginner honing his chart reading skills, that's why I participate in your threads.

unfortunately not many post charts.....but i posted the 4 hourly ...it looks like a bottom in the eur usd.....but breakouts are extremely fickle and it may pullback if does then my short will make money....see 5 min chart which i posted, it shows negative divergence...i hope you do learn something

 

[_eug_]

Your negative divergence on the 5 minute chart is a trap, higher time frame trend will over power it..... but who knows anything can happen.

 

[padutrader]

Also if you believe in correlated markets, look like Dollar is gaining strength in Gold right now as well. Breakout imminent.

the charts i posted 4H and 5 min show that break out is imminent but a 40 pip move down in eurusd will not change anything and that is indicated by 5 min technicals

 

[padutrader]

Your negative divergence on the 5 minute chart is a trap, higher time frame trend will over power it..... but who knows anything can happen.

you are right but how will the trap work? a shakeout move down? if you are long eurusd STAY LONG....before any big move the shakeout will come

 

[padutrader]

thanks guys for participating....Baron should give all of us an expensive gift