Using Awesome Oscillator Divergence to Trade
Found the Awesome Oscillator divergence on the 1-hour chart in three currency pairs earlier, EUR/USD, EUR/JPY, and GBP/USD.
I placed a limit sell order for EUR/USD at 1.3570 at around 6 GMT, but it was not touched. The price went as high as 1.3565 and then turned south.
The sell orders for EUR/JPY and GBP/USD were both filled. For EUR/JPY, I placed the limit sell at 137.00, with 100 pips take-profit and stop-loss. The order was filled at around 7:30 GMT. The price went as high as 137.42 before it reversed. 5 hours later, our 100-pip take-profit target was reached.
The British Pound sell order was also a winner. The limit sell was filled at 1.4930 at around 6:45 GMT. The take-profit and stop-loss was also 1:1, 100 pips. The price went as high as 1.4960 before it reserved. About 6 hours later, our take-profit target was hit. Another 100 pips of profit.
