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    Thread: zahidmehmood‎'s trading journal

    1. #21
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      Quote Originally Posted by ilyas_ili View Post
      I understand, I used RSI only to look for the divergences on Bitcoin because we can not measure this one with the resistance at the moment due to the all time high prices but i think you are right. unfortunately the price reacted a bit last night as i was expecting but that was all of the sudden and couldn't catch it.

      thanks by the way and hey listen follow this thread to upload pictures on your thread, you are half way there. you are posting links but you can post thumbs view as well which will be much easier for us to view picture.
      http://forum.mt5.com/showthread.php?...arts-with-ease
      thanks brother for your advice, I'll definitely post my analysis as you suggested because before I didn't know. and as far as trading bitcoin is concerned, I personally don't look very much into it because there are so many currency pairs to look for.


    2. The Following User Says Thank You to zahidmehmood For This Useful Post:

      ilyas_ili (11-22-2017)

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    4. #22
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      Thank you brother, using the divergence to trade is absolutely very important and we must try not to miss out, and as you mention its works more in the 4hrs and 1hr chart, which I see as the best way of trading. Using the the smaller time frame will not give us exactly what we want and we will be open to huge loss


    5. The Following User Says Thank You to sonibark For This Useful Post:

      zahidmehmood (11-22-2017)

    6. #23
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      Quote Originally Posted by sonibark View Post
      Thank you brother, using the divergence to trade is absolutely very important and we must try not to miss out, and as you mention its works more in the 4hrs and 1hr chart, which I see as the best way of trading. Using the the smaller time frame will not give us exactly what we want and we will be open to huge loss
      yeah I have also noticed in the past few months that mostly when trend changes or continues after a correction on either H4 or Daily TF, then usually at that time regular divergence or hidden divergence forms.


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      NikitaBelle (11-22-2017)

    8. #24
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      Quote Originally Posted by zahidmehmood View Post
      well today market hits my 20 pips stop loss and now returning again within channel so I took again entry on GbpJpy because on M15 it is still divergent, I am uploading new picture of my second entry with a target of 100 pips, currently it is in 20 pips plus running.

      As I told you first time GbpJpy trade got me out of the market, so I took a 20 pips loss, but turns out it was just a fakeout move by market makers so when it came back again into a channel I took a sell trade on GJ again for 20 pips stop loss, because it was regular divergence formed as well, now it is running in +50 pips, I am uploading current status
      Attached Images  


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      ilyas_ili (11-22-2017)

    10. #25
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      Quote Originally Posted by zahidmehmood View Post
      As I told you first time GbpJpy trade got me out of the market, so I took a 20 pips loss, but turns out it was just a fakeout move by market makers so when it came back again into a channel I took a sell trade on GJ again for 20 pips stop loss, because it was regular divergence formed as well, now it is running in +50 pips, I am uploading current status
      impressive work mate, one of the best thing you have done is the locked thing on break even. keep the good charts posting, by the way can you explain about the Bollinger Band indicator? as your RSI is doing all the work exactly like the simple RSI indicator but the Bollinger Band what is the use of it here?
      I'm not RANDOM you just can't think as FAST as me


    11. The Following User Says Thank You to ilyas_ili For This Useful Post:

      zahidmehmood (11-22-2017)

    12. #26
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      Quote Originally Posted by ilyas_ili View Post
      impressive work mate, one of the best thing you have done is the locked thing on break even. keep the good charts posting, by the way can you explain about the Bollinger Band indicator? as your RSI is doing all the work exactly like the simple RSI indicator but the Bollinger Band what is the use of it here?
      thanks for your comment mate, I appreciate it, now as far as bollinger bands in indicators window mixed with RSI is concerned, well it is called TDI (Trade Dynamic Index), it has two purposes.

      1. As you can see it in picture, I have set the default RSI levels 25 and 75 i.e over bought and over sold, but mostly market reverses before touching these levels, so TDI helps me indicate a reversal when RSI line is about to touch upper or lower bollinger bands, ofcourse its not 100% accurate but I use it only as confluence (as indicated with small arrows).

      2. Secondly when distance between upper and lower BB decreases, it's called SQUEEZ, which means that there is a strong breakout coming either upward or downward (as indicated with big arrows).

      To find out SQUEEZ, we can also put default BB in our main window as well, I hope this helps.
      Attached Images  
      Last edited by zahidmehmood; 11-22-2017 at 09:54 AM.


    13. The following 2 users say Thank You to zahidmehmood for this useful post.

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    14. #27
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      Last night I also took entry on EU, there was a nice regular bullish divergence on H1, and also it was in a channel and it made regular bullish divergence on M15 as well, I closed it in +40 pips
      Attached Images    


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      MartyFish (11-22-2017)

    16. #28
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      Quote Originally Posted by ilyas_ili View Post
      impressive work mate, one of the best thing you have done is the locked thing on break even. keep the good charts posting, by the way can you explain about the Bollinger Band indicator? as your RSI is doing all the work exactly like the simple RSI indicator but the Bollinger Band what is the use of it here?
      It is good for traders to be working with the trading strategy that will give them the rest of mind. The bollinger band is a good trading indicator, i have being using it for long, it is better than the RSI in my view, because the RSI is designated mainly for the reversal trading only, while the bollinger bands will trade the both trend and the reversal. Above all, traders should be sure of what they are doing in the both of them.


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      zahidmehmood (11-22-2017)

    18. #29
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      Quote Originally Posted by ajagbeolegba View Post
      It is good for traders to be working with the trading strategy that will give them the rest of mind. The bollinger band is a good trading indicator, i have being using it for long, it is better than the RSI in my view, because the RSI is designated mainly for the reversal trading only, while the bollinger bands will trade the both trend and the reversal. Above all, traders should be sure of what they are doing in the both of them.
      You are right brother, but one thing I must tell you that any indicator or any strategy can be profitable as long as you practice and back test it so much that it starts giving you the profit, it is all about learning and experience.


    19. #30
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      Guys I also found a very nice bearish setup on EurAud, if we look at its Daily TF, it is nicely holding a channel and on H1 TF, we can see that it has formed already bearish divergence and also formed Head & Shoulder Pattern and we can see that clearly it has broken its neck line, so there is a 300 pips drop expected, I have posted both the pictures.

      https://postimg.org/image/7xy80asxx

      https://postimg.org/image/wtrnnsflx
      yesterday I posted this analysis on EurAud Daily TF and today I found good entry on H1 TF, on H1 market formed hidden bearish divergence and also its in a channel and on M5 it also formed regular bearish divergence, so I took the trade with stop loss of 20 pips.
      Attached Images      


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