Quote:
Originally posted by forexgreenland:
[QB] [10:00:53] Stalion : BUY STOP ON GBPUSD@ 1.7635, 1ST TARGET @ 1.7713, 2ND TARGET @ 1.7755,
40
pip stop loss..
We are looking at approximately 120 pips here,$120 minilot,$1200 standard lots on cable [/QB]
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Quote:
Originally Posted by Stuart14
Can't win them all Forexgreenland
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Yes, Stuart, nothing is 100% perfect in trading as well as in life..Though we got stopped out on 40 pips, 7 pips less to hit
our target,we still locked in profits of +20 or more pips along the way..If you noticed, price on the cable(GBPUSD)
eventually shot through our target points, with more extra pips for good measure.
Quote:
Originally Posted by Onwukarisa
Hello mystikal,
Please when using MACD for divergences what should i use: the trough that form when red and blue lines cross or the
histogram of the MACD . Please Advise.
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Onwuka Arisa
***************
Hi Onwuka, if you observed, we used the MACD Histogram from the 1st chart to ascertain whether there was
divergence or not. The Macd Histogram told us that price was overbought and buying pressure was reducing, which was
a precursor to the downward movement on the charts. In order words, MACD Histogram was telling us that the bullish
momentum was tapering off. There was also a bearish hammer and a trendline break to the downside, telling us to cover
our longs.
If I had to choose between the trough that form when the red and blue lines cross(MACD proper) or MACD Histogram,
I'll choose the Hisogram because it is much faster...Notice from the chart above that MACD was trailing behind its
Histogram, which would have been quite slow in forwarning us to cover our longs or take profits at that level on the
charts.
Anyways, we learn from our mistakes.
140 pips less our 40 pips that was stopped out on the 9th, which gave us 100 pips net, $100 minilot,$1000 standard lot
on Friday.