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Trading the Cable swings via averages

  • #541
  • Dec 14, 2018 5:51am Dec 14, 2018 5:51am
Thank you so much Alan, your tutor is very great. Now, i know when its open and close. And very profitable. God bless you.
  • #542
  • Dec 14, 2018 8:21am Dec 14, 2018 8:21am
Quoting Nala66
Anyone catch some or all of the 33 pip up move on the 1 hour div while I was away? {image}
Not me no , I was done after the short target was reached.
  • #543
  • Dec 14, 2018 9:15am Dec 14, 2018 9:15am
This is Period Separator Indicator for MT4 instead of Cycle line tool. I think this is more practical.
Attached File(s)
File Type: ex4 PeriodSeparator.ex4   11 KB | 652 downloads
  • #544
  • Dec 14, 2018 9:44am Dec 14, 2018 9:44am
Quoting Nala66
Anyone catch some or all of the 33 pip up move on the 1 hour div while I was away? {image}

I entered at 2615 and exited with 42 pips. I was so engrossed with the bearish trend from old habit, to act on the H1 div but I waited until the retrace dissipated its energy before shorting again at 2598 and exiting at 2556 for another 42 pips.

Alan, have you seen why everybody is singing about you. The blessing of God Almighty shall be permanent in your life and that of your family, in Jesus Name
  • #545
  • Dec 14, 2018 10:06am Dec 14, 2018 10:06am
Quoting Nala66
Anyone catch some or all of the 33 pip up move on the 1 hour div while I was away? {image}
Hi Nala,
Can you explain how you can get into that 33 pips up?
I guess you get in right on the open of H1 bar at 11:00 and set TP for above MA swing high and don't care about bear divs on M5 after entry until it hit your intial TP, right?
I am trying to digest your lessons and put into practicing here.
Thanks
Attached Image (click to enlarge)
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  • #546
  • Dec 14, 2018 10:15am Dec 14, 2018 10:15am
Quoting quangvision
{quote} Hi Nala, Can you explain how you can get into that 33 pips up? I guess you get in right on the open of H1 bar at 11:00 and set TP for above MA swing high and don't care about bear divs on M5 after entry until it hit your intial TP, right? I am trying to digest your lessons and put into practicing here. Thanks {image}
Is it normal that I don't have divergence on my RSI there?
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 65 KB
  • #547
  • Dec 14, 2018 10:24am Dec 14, 2018 10:24am
Quoting hocius
{quote} Is it normal that I don't have divergence on my RSI there? {image}
Mine shows divergence between the 2 rsi's. Do you have the rsi5 set to the "previous indicator's data:?
  • #548
  • Dec 14, 2018 10:28am Dec 14, 2018 10:28am
Quoting pakeha
{quote} Mine shows divergence between the 2 rsi's. Do you have the rsi5 set to the "previous indicator's data:?
Ohh It was that. I had it on close. Thank you!
  • #549
  • Dec 14, 2018 5:39pm Dec 14, 2018 5:39pm
Quoting hocius
{quote} Is it normal that I don't have divergence on my RSI there? {image}
I had the same problem and there are two reasons. Your MT4 provider is using a different weekly start time to Alans provider. The other reason is if you have dropped the 5 rsi on to the 14 rsi without using the previous indicator data field as explained by Alan. Make sure you are using the generic rsi in mt4 as some rsi's dont have the previous data field. I worked this out when mine didnt match.

Cheers Paul
  • #550
  • Dec 14, 2018 5:44pm Dec 14, 2018 5:44pm
Phew! I am glad we got that RSI sorted, it just goes to show how missing a little from the instructions how it can have a profound effect.

OK as I awake and look back at the hourly chart I see price did make the B target price and it did so in divergence so back to the EMA it goes

So now I hope your are getting the idea that the swings of the averages are the resistance levels price is always trying to overcome and a support is a break of the average with a failure to get back across the average. Neither of these has anything to with tops and bottoms of price action.

So what are we expecting now?

Well a bounce off B with a div sends the price back upwards to test the EMA. If it breaks it then needs to find support to tackle the new A level. If it does break then we can expect a new LL below B. Either option will be sorted by the time Europe opens on Monday
Attached Image (click to enlarge)
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  • #551
  • Dec 14, 2018 5:47pm Dec 14, 2018 5:47pm
Quoting Paullum
{quote} I had the same problem and there are two reasons. Your MT4 provider is using a different weekly start time to Alans provider. The other reason is if you have dropped the 5 rsi on to the 14 rsi without using the previous indicator data field as explained by Alan. Make sure you are using the generic rsi in mt4 as some rsi's dont have the previous data field. I worked this out when mine didnt match. Cheers Paul
Thanks Paullum I am sure others find these tips useful.
  • #552
  • Dec 14, 2018 5:50pm Dec 14, 2018 5:50pm
Quoting Mic_FX
This is Period Separator Indicator for MT4 instead of Cycle line tool. I think this is more practical. {file}
Also you might want to just set a cheap wall clock to the time on your charts, that's what I have.
  • #553
  • Dec 14, 2018 9:39pm Dec 14, 2018 9:39pm
Quoting quangvision
{quote} Hi Nala, Can you explain how you can get into that 33 pips up? I guess you get in right on the open of H1 bar at 11:00 and set TP for above MA swing high and don't care about bear divs on M5 after entry until it hit your intial TP, right? I am trying to digest your lessons and put into practicing here. Thanks {image}
Look for the two bar test in the Valley area. Here was a 3 bar test but with an inside bar to long on the break above from see notes on chart.
Attached Image (click to enlarge)
Click to Enlarge Name: 5min_long_from_1hr_div.png Size: 50 KB
  • #554
  • Dec 14, 2018 10:46pm Dec 14, 2018 10:46pm
Quoting Nala66
{quote} Also you might want to just set a cheap wall clock to the time on your charts, that's what I have.
Never thought of that! The simplest idea is usually the best.

Some other options:

A wonderful indi on FF called P4L Clock. Overkill for what we want, but you could set it to just display your broker's time and Frankfort's time (presently bar 108).

If you are using Windows, the clock (bottom right on the task bar) can be set to show three different times.
Good Trading
  • #555
  • Dec 14, 2018 10:56pm Dec 14, 2018 10:56pm
Quoting pakeha
Like many of you, I think Alan has done an amazing job with this thread. ~~ Cheers {image}
Thanks for that. I've seen a few pdfs made from FF posts "that can be a bit of a mess" that do not encourage multiple readings/study. Yours does which is fitting because it will be the most useful.

Cheers
Good Trading
  • #556
  • Dec 15, 2018 12:49am Dec 15, 2018 12:49am
Quoting Riaanvw
{quote} Look for the two bar test in the Valley area. Here was a 3 bar test but with an inside bar to long on the break above from see notes on chart. {image}
One could see it like this, however I see it a tad differently.

What Riaan has here is a regular bullish divergence but look more carefully and you will see there were three of these possibilities, two prior to the one shown. In other words the 1 hour bar was still on its way down. On the close of the 1 hour the 5 min was still in divergence both with the regular one and the RSI shown on my chart as number 2.

This caused the price to cross the EMA but then it ran into div again, number 3. This sends it back across the EMA once more until it runs into yet another div at the 1 hour B level, number 4. This too was a regular bullish divergence of which there were 2 possibilities however the 1 hour was still on its way down only to close in divergence making the latter one (4) being the one to take.

so if traded over the whole day then the moves would look like this...
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 63 KB


P.S. I made it look pretty like your charts...cool uh!

On the 1 hour chart this would be in these positions...
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 31 KB
  • #557
  • Dec 15, 2018 4:10am Dec 15, 2018 4:10am
Quoting Nala66
Anyone catch some or all of the 33 pip up move on the 1 hour div while I was away? {image}
I caught it.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 68 KB


I am still not happy enough with my trading but I am very sure I'll get there. My analyses are mostly spot-on, just the execution is not always good.
With another week I should be good. Then I'll go for the three stages (didn't use that this week).

Thanks again Alan. Terrific stuff and terrific teaching.
Trading S/R with PA only. No indicators anymore!
  • #558
  • Dec 15, 2018 4:36am Dec 15, 2018 4:36am
Quoting Nala66
So what are we expecting now? Well a bounce off B with a div sends the price back upwards to test the EMA. If it breaks it then needs to find support to tackle the new A level. If it does break then we can expect a new LL below B. Either option will be sorted by the time Europe opens on Monday {image}
I don't get that. Did you mean: "If it does not break...."?
Trading S/R with PA only. No indicators anymore!
  • #559
  • Dec 15, 2018 4:50am Dec 15, 2018 4:50am
Quoting Nala66
{quote} One could see it like this, however I see it a tad differently. What Riaan has here is a regular bullish divergence but look more carefully and you will see there were three of these possibilities, two prior to the one shown. In other words the 1 hour bar was still on its way down. On the close of the 1 hour the 5 min was still in divergence both with the regular one and the RSI shown on my chart as number 2. This caused the price to cross the EMA but then it ran into div again, number 3. This sends it back across the EMA once more until...
Thank so much Alan!
Your charts and explanation makes sense to me. For this specific scenario, a bit experience with price action required, on long H1 downbar, down momentum should prevent any bullish M5 divs from being entried until it closed. Because first moments of new bar right after big downbar normally make some retracements. And ofcourse, it is good for scalps/hedges and TP set to MA.
Btw from Alan MM lessons, how many lots should we enter for these scalps/hedges?
  • #560
  • Dec 15, 2018 8:07am Dec 15, 2018 8:07am
Quoting Jazz1964
{quote} I don't get that. Did you mean: "If it does not break...."?
Sorry yes a typo If it does NOT break.

Nice to see someone is paying attention.
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