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Trading the Cable swings via averages

  • #4,161
  • Jul 14, 2019 9:58pm Jul 14, 2019 9:58pm
Quoting RobertMY
I’m looking very happy forward to this new week. Alan, I really beg you, give us this week steady hints on what to look. This would train my view to see the right things at the right time to improve my skills for the future to do it without further hints. And further, I have still big problems with to put the right stop loss points. I achieved to loose a significant amount in my demo account due to the wrong stop losses. And this is very badly affecting my clear view and confidence.
I'll tell you what Robert, how about you giving the hints on where and why you expect price to go. That way I may be able to correct your thinking instead of me spoon feeding all the time.

See how you go...

I am sure many here would also learn a lot and may even contribute.

This should get you started, do you see this on the 30 min chart?
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  • #4,162
  • Edited 11:09pm Jul 14, 2019 10:49pm | Edited 11:09pm
Sure. I see AB and extend at C the length of AB. This defines my target.

Further I see a div in the rsi´s. I am above 1H av, so I look to buy only.

I might see a hook, but I´m not sure if the hook is allowed to be under the 26av if it´s supposed to be a up-hook.
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Trying to safe the world...
  • #4,163
  • Jul 15, 2019 1:00am Jul 15, 2019 1:00am
Quoting RobertMY
Sure. I see AB and extend at C the length of AB. This defines my target. Further I see a div in the rsi´s. I am above 1H av, so I look to buy only. I might see a hook, but I´m not sure if the hook is allowed to be under the 26av if it´s supposed to be a up-hook.{image}
Great!
  • #4,164
  • Jul 15, 2019 1:54am Jul 15, 2019 1:54am
Quoting Nala66
{quote} Great!
Otherwise to hedge if in trade.

But... On 5M I got two good slaps. Bought after price crossed 50%: Went down, stopped out. And then after retracement due of 5M div. second slap. Stupid me.
Trying to safe the world...
  • #4,165
  • Jul 15, 2019 6:51am Jul 15, 2019 6:51am
Very quiet in here. Anyone on this short drawn on the 60m chart? Potential target also correlates to 50% pullback on the 240m chart.
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  • #4,166
  • Jul 15, 2019 7:20am Jul 15, 2019 7:20am
i took this short on the 5m... pretty easy setup
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  • #4,167
  • Jul 15, 2019 7:42am Jul 15, 2019 7:42am
Re. my previous post, price has now hit 50% of it's potential target. Time to be cautious here to see if it bounces or continues on the target.
  • #4,168
  • Jul 15, 2019 8:10am Jul 15, 2019 8:10am
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that HD from LO ran into a regular bull divergence, there wasn't an bear support so what was the reason to short that candle? Its obvious on the M5 chart where we got a bear RSI/RSI at 50 level, but i dont see the inference from H1??? What am i missing??? Thx
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  • #4,169
  • Jul 15, 2019 8:28am Jul 15, 2019 8:28am
Quoting huskyboy
{image} that HD from LO ran into a regular bull divergence, there wasn't an bear support so what was the reason to short that candle? Its obvious on the M5 chart where we got a bear RSI/RSI at 50 level, but i dont see the inference from H1??? What am i missing??? Thx {image}
i personally dont pay attention to all that other stuff, i mainly look at 5m and once in awhile at 1hr... keeping it simple is what works for me
also i been trading div for many years, the extra stuff in this strategy is a bonus to my style
lastly was a 61.8 pullback, dropped very nice
  • #4,170
  • Jul 15, 2019 8:47am Jul 15, 2019 8:47am
Quoting 4xtrader41
{quote} i personally dont pay attention to all that other stuff, i mainly look at 5m and once in awhile at 1hr... keeping it simple is what works for me also i been trading div for many years, the extra stuff in this strategy is a bonus to my style lastly was a 61.8 pullback, dropped very nice
but how do you filter out all these divergences, and i might missed some?
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  • #4,171
  • Edited 9:25am Jul 15, 2019 8:53am | Edited 9:25am
Quoting huskyboy
{quote} but how do you filter out all these divergences, and i might missed some? {image}
sorry man i honestly mix this style in with another style i trade which is a bounce of the 26/100 ema, again this is what works for me. the setup has to be perfect for me to take it. Plus i trade lots on the 1m also...

why i dont post much in here, dont wanna confuse anyone from Alan's style. I just know his style has made my style work even better
  • #4,172
  • Edited 1:59pm Jul 15, 2019 12:51pm | Edited 1:59pm
Quoting Nala66
{quote} I'll tell you what Robert, how about you giving the hints on where and why you expect price to go. That way I may be able to correct your thinking instead of me spoon feeding all the time. See how you go... I am sure many here would also learn a lot and may even contribute. This should get you started, do you see this on the 30 min chart? {image}
HD on LO, price dropped into a regular bull divergence, retested the EMA swing and the EMA 26 (the hook), made bear support and the 2line break gave the entry short again (and that might be the answer for my earlier question why we should short that H1 candle) and completed ABCD on H1. Do we have to watch every time frame?
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  • #4,173
  • Jul 16, 2019 12:17am Jul 16, 2019 12:17am
Well look at that. Right on the button. I've just woken up to find price finally hit the target I posted yesterday. Trouble is, I didn't get taken out of the trade! So what do I do now I wonder? Do I get out straight away or wait for price to have another go?
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  • #4,174
  • Jul 16, 2019 1:51am Jul 16, 2019 1:51am
I held on and it finally blasted it's way through my target taking me out. What now for today then?
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  • #4,175
  • Jul 16, 2019 2:13am Jul 16, 2019 2:13am
Quoting mayflower
I held on and it finally blasted it's way through my target taking me out. What now for today then? {image}
good question
  • #4,176
  • Jul 16, 2019 2:27am Jul 16, 2019 2:27am
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i see this, but dont shoot me if i am wrong, below the EMA so we only should be looking for shorts, but this divergence and the bull RSI/RSI M5 made me enter for a hedge, but it allready appears i am wrong
  • #4,177
  • Jul 16, 2019 3:43am Jul 16, 2019 3:43am
Quoting huskyboy
{image} i see this, but dont shoot me if i am wrong, below the EMA so we only should be looking for shorts, but this divergence and the bull RSI/RSI M5 made me enter for a hedge, but it allready appears i am wrong
That is not drawn correctly.
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  • #4,178
  • Jul 16, 2019 3:54am Jul 16, 2019 3:54am
You guys seem to be loosing the plot as to what this thread is about. Trading Between The Averages.

Divergences only play a part of the story, in fact you don't even need divergences.
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  • #4,179
  • Jul 16, 2019 4:28am Jul 16, 2019 4:28am
Thanks Alan,

Always need that reminder , so easy to get caught up in the nitty gritty of small movements its easy to lose track and end up not seeing the woods for the trees as they say

Cheers...Des
  • #4,180
  • Jul 16, 2019 4:43am Jul 16, 2019 4:43am
This is interesting on the 4 hour.

The average is trying to break the previous average as price then tackles the next average. However at this point it is in divergence so my guess is it will make target before the close of the bar and possibly even pull out of divergence altogether. Not sure what will happen here.
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