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Price of GBP/USD closed above the cloud at 6 PM GMT. Placed a buy order at 1.4808 with a take-profit target at 1.4888, and a stop-loss below the cloud at 1.4750. Carried the trade over the weekend because British Pound remained above the cloud but did not hit the take-profit target by the Friday close.
The strength of the Pound continued. Finally, the target was hit at 5:15 AM GMT.
Looks like divergence is forming. Waiting for confirmation.
I opened a sell limit at 1.5015 which was filled at midnight GMT. And the price went as high as 1.5068 before it reversed. The take-profit and stop-loss was 100 pips. The price started to head south after London opened. The target, 1.4915, was hit at around 9:25 GMT. It’s a good day. 100 pips of profit.
Looks like we have a divergence here in British Pound - Dollar pair. Let’s see if the 1.5015 to 1.5040 holds. If it does, I’ll enter a sell order.
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.
