Mtkjong, If I'm not mistaken hidden or reverse divergence is opposite normal divergence and is used for trend continuation rather that reversals

Auslanco - GBP/JPY and GBP/USD (newstrade)

I haven’t gone back through this thread to understand the use of the momentum indicators as you use them but you can spot divergence with them, specially hidden divergence, (the gold lines from the last two highs) All signals of a short Fwiw,

Auslanco - GBP/JPY and GBP/USD (newstrade)

Price is definitely in an uptrend, especially when you view it on higher charts, higher highs and higher lows, but for the short term we may have a good R:R short scalp setup, price has broken south from it’s last 12 to 14 hour support line (dashed) ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

M2B, Thanks, As long as my eyelids will stay open, i'll try. We may go sideways from here till London open, and I would need for price to reset itself and start moving again before I would trust them on a smaller time frame. a

Auslanco - GBP/JPY and GBP/USD (newstrade)

Here’s a long shot to see if it even sets up, We have broken a new low and it looks, short term any way, were in a down trend, so looking to make a new low, shown on the hourly , at prior resistance now support. If price breaks north from it’s small ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

close enough. time for a break. good trades everyone.

Auslanco - GBP/JPY and GBP/USD (newstrade)

let's see if we can make it to here.

Auslanco - GBP/JPY and GBP/USD (newstrade)

If we can get through here we should be good back to the neck line and a chance to break it.

Auslanco - GBP/JPY and GBP/USD (newstrade)

Just having fun small position scalping on this possible smaller H&S. Imho, we are at a point up through 241ish for a longer reversal.

Auslanco - GBP/JPY and GBP/USD (newstrade)

break out which way?

Auslanco - GBP/JPY and GBP/USD (newstrade)

Let's see if she holds but without sellers coming in here, i'd say shes going sideways. fwiw,

Auslanco - GBP/JPY and GBP/USD (newstrade)

bingo.

Auslanco - GBP/JPY and GBP/USD (newstrade)

A H&S is a reversal pattern, not a continuation pattern.

Auslanco - GBP/JPY and GBP/USD (newstrade)

Thank you Mike, The blue fork completed the center median off it's first push, i put in the gold off that last swing and now price has made the center of that, If the blue is still in control it should head south from here, jmho, if price moves out ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

It would have been nice if price would have broken the neckline and made a new low, however look for the blue fork to contain price if the shorts are valid. price moving east or drifting east through the fork and the small H&S is void imho.

Auslanco - GBP/JPY and GBP/USD (newstrade)

Just a chart, for what it's worth.

Auslanco - GBP/JPY and GBP/USD (newstrade)

Here’s a visual to help you along, please note that the pip counts are approximations. If you were able to catch the exact bottom and held on to the very top it would net you about 2200 pips. For purposes of illustration only!, if you could ...

long-run profits impossible with short-term trading?

Update: Stopped out –30 , Looking to sell back around the 3580/3600 level . however we may be looking for a double top of the 12/04 high back around teh 3665 level Open trades: EUR/USD GBP/USD Totals: GBP/USD +13.5 EUR/USD Sell 3537 Stop ...

Euro & Cable Reversals

Update: Glutton for punishment, sell Euro 3537 stops 67 take profit open, holding over the weekend. Open trades: EUR/USD Sell 3537 Stop 3567 Target open GBP/USD Totals: GBP/USD +13.5 EUR/USD + 3.5 Total +17 Cheers, Auxesis

Euro & Cable Reversals

Was away from the screens most of this morning, but imho, we are looking at a short term top and we need to print a few more hourly lows. I doubt if we see much action between here and NY close so will be looking for shorts @ next weeks open. Maybe ...

Euro & Cable Reversals