I found a nice bearish divergence signal on EURJPY pair on 21 June 2013 M15 time frame which gave me +30 pips in advance. In last few hours, EURJPY trend is up about 130 pips. I cannot get into this potential trade because I do not watch the market. But when I open my MT4 I spot a bearish divergence which gave me a SELL signal as follow
Price made higher high but the Stochastic start making lower low. When the price break my trend line, I open SELL position and I close my position when the candle hit the lower Bollinger Bands. As you see the price continue to move lower and break the Bollinger Bands and start making a nice down trend.
I am just a divergence trader and I just open few transactions each days depend on any divergence occurences. Divergence has given me many green pips so far and I do not want to try another system or indicator. Indicator is formed by price movement so there is no such a perfect indicators.
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