Trading the Cable swings via averages

Well think about it...

Price is trading below the average so a bull div can only initially be regarded as a scalp or a hedge. Is it worth the risk or better to wait for a short signal?

Getting very close to that 2542 (post 3919)

I'm waiting for it, looks like that 5m div failed

If we use the 5 min as the inference chart then we have to look to the 1 min for the entries

Hi Alan,

Rookie trader here. Been reading your thread for a while now, honestly appreciate what you've been doing. Kudos to you.
Mind having a look at my chart, I found somewhat of a Bear Div, since price is below EMA, the bear div would be a confirmation for a further bear dive right? Apologies if I'm missing something. Still in the process of reading the entire thread.

Once again, truly appreciate your work here.

so alan we can use 15 minute charts to find refrence and zoo points if 1 hour is not clear. also please tell me when to break even a trade as i am having some difficulty in it. either i am too early or i am late, like today i was in profit of 9 pips in long trade but did not break even it , later i got stopped out

using H1 as inference, looking at M5, we should be looking to go long?

Alan

At the time of trading, would you consider this as two bar test btw? I entered in the green bar in the circle as the previous bar close above the bottom, also taking the inference from H1, but obviously it failed.

Why did you go long? The drawn divergence was not in place at this time yet. Just asking, maybe I missed something.

at that time, looking at the H1, it was in the oversold zone already

Here are a bunch of scripts that you all can my make use of that will hopefully make the order process easier. Refer to post #2807 and after for Alan's explanation about using them.
These are scripts and go in the scripts folder. If you don't know how to do this then use google as it is a great resource.

Script details as follows

!Break Even + 1 pip - Adds or moves the stops to break even plus 1 pip. It will work on multiple orders at once.
!Close All Open & Pending Orders- Closes all open orders and pending orders. BEWARE - This includes closing orders on other pairs that are open at the same time
!Close All Open Orders Only - Closes all open orders only.This excludes pending orders. BEWARE - This includes closing orders on other pairs that are open at the same time
!Remove All Stops - Removes all stops on open orders. Ideal for hedge trades
!Remove Take Profit - Removes all take profits on open orders. Ideal for hedge trades
!Remove Trade Lines - Removes and reinstates the take profit, order and stop loss lines on your charts. Double click the script for the lines to disappear or re appear.

!Market Order Buy T1 - Opens a buy at market order. T1 = .01 lot, 10 pip stop loss, 40 pip take profit
!Market Order Buy T2 - Opens a buy at market order. T2 = .02 lot, 10 pip stop loss, 40 pip take profit
!Market Order Buy T2 - Opens a buy at market order. T3 = .03 lot, 10 pip stop loss, 40 pip take profit
!Market Order Sell T1 - Opens a sel at market order. T1 = .01 lot, 10 pip stop loss, 40 pip take profit
!Market Order Sell T2- Opens a sell at market order. T2 = .02 lot, 10 pip stop loss, 40 pip take profit
!Market Order Sell T3- Opens a sell at market order. T3 = .03 lot, 10 pip stop loss, 40 pip take profit

!Pending Order Buy T1 - Places a buy stop order 10 pips above current price. T1 = .01 lot with no stops or take profit.
!Pending Order Buy T2 - Places a buy stop order 10 pips above current price. T1 = .02 lot with no stops or take profit.
!Pending Order Buy T3 - Places a buy stop order 10 pips above current price. T1 = .03 lot with no stops or take profit.
!Pending Order Sell T1 - Places a sell stop order 10 pips under current price. T1 = .01 lot with no stops or take profit.
!Pending Order Sell T2 - Places a sell stop order 10 pips under current price. T1 = .02 lot with no stops or take profit.
!Pending Order Sell T3 - Places a sell stop order 10 pips under current price. T1 = .03 lot with no stops or take profit.

Now you might be thinking this is great but my lot sizes are bigger so these wont work for me. So what I'll do is teach you just about everything I know about MT4 coding in about 30 seconds and how to change them.

To modify the scripts to suit yourself do the following -
1. Download the MQ4 files to your computer
2. Double click on the MQ4 file and this will open Meta Editor and place the source code for the script within it.
3a. With the market orders you may make changes to Stop loss in pips, Take profit in pips and Amount of lots.
3b. With the pending orders you may make changes to the lot size and pip amount the order is placed away from current price
4. Once you have made the changes click the compile button and this will automatically save an .ex4 file in the same location as the MQ4 file. There should be no errors for it to compile and make the .ex4 file
5. Copy and paste the .ex4 file into your mt4 platform script folder
6. Restart MT4 and it is ready for testing.
7. See the 2 screen shots for the Meta Editor as a reference.

Now all that is out of my head I have room in there for more analysis. I'll leave it with you!

and some more

But wait there's more

And last of all screen shots for Meta Editor to edit the scripts

let's hear of everybody's great exploits in the market today.

Wow they took it all the way down 1 of the low's from 12-12-2018 which is 2483

could be a lot of buying opportunities over the next coming weeks

I had a big failure today. I want to share my thinking and hopefully people can correct me.

I am looking for long opportunity all day, because

1. From H1, I saw that a oversold situation was there, and during the time in the circle, price has already drop so much and RSI couldn't catch up, therefore, I saw a RSI/RSI divergence forming.

2. drop down to M5, there are a lot of bullish divergence signal, since price in H1 made LL already, so I consider they are reversal signals.

3. In M5, RSI 14 was so low and RSI 5 was on top of it, didn't really travel to the extreme 20 zone, so I consider they selling was weakening.

However, today is a big drop, so should go for short, but I don't know what evidence I could find to support this action.

Can you please share how you trade today please? Many many thanks

ITS NFP today....

but according to Alan, we just need to look at the price action, the signals

Yes but turn off the ray on your lines it makes for confusion.