Sign up for PayPal and start accepting credit card payments instantly.
Forex eBook - Read and Learn

Earn Over $10,000 USD - Sign up as an affiliate and start earning thousands of dollars online.

29 May 2007

How to benefit without Divergent Bar

How to benefit without Divergent Bar


Not all moves form Divergent Bars signaling us for change in movement direction.
A sample is USDCAD 4 hours chart here. The lack of Bearish Divergent Bar cannot stop trader to make some profit.

The long down side move has stopped for a while ranging in a narrow path. Yesterday attempt to break down this range was unsuccessful, but formed a Bearish Fractal signal. This and previously two taken fractals have to sharp our attention. This decision was supported by Bullish fractals going in down direction too; last one failed taking 1.0885 level.

Using Balance line signals I've put few sell stop orders - just in case. It doesn't seem to me that the down move could continue. Today we see that trader have to obey signals!

Stop Loss is moved below last order so I'm in a free trade now waiting for more signals.

Why not?!

No comments: