Trading the Cable swings via averages

Quoting KyBakka

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{quote} That impressive Nala, can you explain more about your entry. Thank you.

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Quoting Nala66

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{quote} That is funny because the cost of not hedging is the loss of profit far greater than any fees incurred. You know your trade is safe no matter which way it goes, let's call it the cost of insurance.

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Quoting Nala66

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{quote} Actually the entry is simple. Price crosses the EMA from above and the bears find support in that the bulls fail to take it back across the EMA to the long side. Now this can happen and that is why we have a stop and that the 1st entry is just dipping our toes in. We then add entries as our confidence grows and all this happens about the time of the 108 bar. We can also see that on the 1 hr chart we are trading below the average so that also means shorts are on the table.

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Quoting Mic_FX

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Can we this consider a good trade? {image}

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Quoting KyBakka

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{quote} Thank you Nala, just one more question, do you hedge when RSI go below 20 zone ? and when do you remove the hedge ?

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Quoting Nala66

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{quote} I think you mean bulls meet resistance. The trade for the day is well past so at this stage you are just scalping the remnants. Yep it would make a nice scalp.

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Quoting rosalieone

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Could we have an upside for GBPNZD ? {image}

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Quoting Nala66

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{quote} I didn't actually get a chance to hedge today. I hedge when I get a divergence and remove the hedge also on the opposite divergence. Like this I didn't take this because I am done for the day {image}

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Quoting rosalieone

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what about a nice eurcad {image}

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Quoting ppxdf

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{quote} OMG!!!!! CABLE only, dude!!! Cable means GBP/USD currency ONLY !!!!

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Quoting diamonddbw

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{quote} ++++++++++++++++++++ Post 206: Don't think you've shown us this look yet. I speaking about divergence drawn on opposite sides of RSI 14. Not sure how to interpret the meaning of this one. Would you talk a little about this please? Thanks

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Quoting Nala66

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Normally a trade has three parts... 1) Starts with divergence. 2) Bulls or bears FIND support. 3) Divergences prompts a close or a hedge. Yesterdays was a little different from the norm because the divergence was held over from the previous day (Monday) and held all through the Asian session. Below on the 5 min chart we see... A) Was the divergence B) Bears FOUND support C) Prompted the hedge or close. {image}

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Quoting Nala66

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Normally a trade has three parts... 1) Starts with divergence. 2) Bulls or bears FIND support. 3) Divergences prompts a close or a hedge. Yesterdays was a little different from the norm because the divergence was held over from the previous day (Monday) and held all through the Asian session. Below on the 5 min chart we see... A) Was the divergence B) Bears FOUND support C) Prompted the hedge or close. {image}

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