DOUBLE BOTTOM: TRADE TAKEN (manual entry 2 pips late) Interesting side note: Leading up to the double bottom is some regular divergence, but I have noticed that only one brick retracements don't really work out that well especially when using only 7 ...

New System Test: RENKO 7

hidden bearish divergence image

New System Test: RENKO 7

A good charts with several examples

New System Test: RENKO 7

Thank you for posting. In answering your first question, If I understand you correctly, there really doesn't need to be a particular size to the retracement. I think up to 3 or 4 bricks would still be fine. On the other end of the spectrum, if you ...

New System Test: RENKO 7

CLASSIC DIVERGENCE I didn't take either of these trades as I didn't see them, but they are a good illustration of classic divergence and they both satisfy the conditions of this system. I like to see the RSI at least at 70 but preferably at 80 for ...

New System Test: RENKO 7

THE DOUBLE TOP Entry Rule: Once the second top has printed, we wait for one reversal confirmation brick to print, then enter both positions. Here is the first trade taken (was one pip late in entering manually) NOTE: This doesn't technically fit the ...

New System Test: RENKO 7

Money management parameters: Risk: 2% SL: 28 pips (4 bricks) TP1: 33 pips (a bit less than 5 bricks) TP2: 49 (7 bricks) Two equal sized positions will be opened (1% each). If TP1 is hit, then the SL for the second position will be moved to BE. ...

New System Test: RENKO 7

Popular opinion is that rising interest rates make fixed income investments (bonds, money market, etc.) more attractive, hence money would flow out of gold and into these fix income investments. In reality, the historical correlation between rising ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

I will just let your statement speak for itself.

XAU/USD & XAG/USD - Gold & Silver Traders Thread

Oil dropped about 1.5% during the first couple of hours of the London session.

USD/CAD

I don't trade stocks either, but that doesn't imply I can't pick a winner or analyze a companies future prospects. A mature person with manners would say something like: "Anything is plausible, but in my opinion (insert productive, respectful ...

XAU/USD & XAG/USD - Gold & Silver Traders Thread

Thank you. I know I can always count on you for a snide comment.

XAU/USD & XAG/USD - Gold & Silver Traders Thread

Because Nostradamus said so

USD/JPY Discussion

Looks like we may see a 60 pip gap up to start

USD/JPY Discussion

I don't trade gold but I like to draw squiggly lines. Long term weekly view:

XAU/USD & XAG/USD - Gold & Silver Traders Thread

Divergence can be a fickle whore, but eventually she will get paid. Going to be an interesting week. I imagine a lot of retail stops were collected below 130. Have the bulls been beaten into submission? A break of support back down towards 1.28 or a ...

USD/CAD

It seems these two competitors have an inflated view of themselves

Geppy vs. GJscalper - a duel to the death!

Also holding and adding. All US red data comes in worse than expected. Oil surging again today, up nearly 8% in the last two days, and yet UCAD has held support at 129.5. That speaks for itself. Is market moving money waiting to push this down to ...

USD/CAD