Simple Forex System Trading

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.

4/16 Updates

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.