Double Bottom .. 10 Pips saved{image}
Exciter135
{quote} Thks rozeweb for sharing a promising and simple strategy. When you can, pls explain what candle of the second bottom confirms the completion of the second bottom and the divergence and what is the trigger for you to jump in? Thank you so much once again. Exciter135
There different rules for entry and Exit . It is better to draw support and resistance areas first or insert Daily pivots. On these areas divergence works very well.
Look at chart what I mean for 2nd Candle. Actually I am reading a course so I have very less time. Soon I will add more filters, money management , entry exit rules. S&R Pivots.. I will tell everything
{quote} I agree, MACD divergence is a great tool but is to use with some filters IMHO. Can't wait to hear more from roze
Please Note , support and resistance areas are very very important in all types of strategies. So for better results you should draw S&R . I will also explain how to draw S&R ..
{quote} Yes It is correct divergence
im trading live, with several accts, i was thinking of using this strategy as it is straight forward
However there are still some missing pieces to the puzzle
Such as SL
and when to enter.. looking at the image, which bar would be a good entry once divergence is spotted.. cheers
Even with that small TP i still got a loser on my hands... just a small trade whilst i practice
. You have to earn money with only money management .It is very simple but high win rate strategy with out any filter . You can put RSI or any indicator as an filter . You can put trendline to enter . Although it was a good setup but trend was up .
Anyway practice it you will learn many things. I have updated my thread and just added Hidden Divergence which is more powerful than regular Divergence.