Trading GBPUSD off hidden divergence on 5 minute chart live this morning on Youtube live this morning. The setup was a standard setup off of hidden divergence using a 5-minute chart. However, when using the 5-minute chart, there is no option of going down in time to identify your exit. In this case, the risk on the trade was $24.50 per contract and Gail exited the trade early because the stochastics was overbought.
Trading GBPUSD Off Hidden Divergence Live this Morning
Using the 5-minute chart, the stochastics indicated hidden divergence and the risk on entry was $24.50 per contract. Fifteen minutes after entry, Gail opted to take profits as the price had moved above her strike and the Stochastics was indicating the market was overbought. Remembering a trader’s primary job is to take profits, Gail opted to exit the trade.
In this case, price did go above the area that Gail anticipated but she had already taken profits. Then as expected price reversed and returned to the prior area where Gail originally entered the binary option.
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