I like thisIt's clear.... it should be by now. And otherwise, I dare to ask. Let's get it done, practice and experience. Thank you Alan! Can you pls post the colored grid indicator?
Trading the Cable swings via averages
- #302
- Dec 1, 2018 11:00pm Dec 1, 2018 11:00pm
- | Joined Apr 2008 | Status: Trader | 1,040 Posts
Good Trading
- #303
- Dec 2, 2018 1:35am Dec 2, 2018 1:35am
- Joined Mar 2016 | Status: Trader | 6,378 Posts
Attachment g
On the 5 min chart the 2760 average was the one be broken. To break this level price itself makes it to the next level which was 2745 which is enough to easily make the 50 pips required.
Then for the average to break this 2745 level price moves on to the next level 2739
The 1 hour chart has not yet finished because the EMA is trying to break the average swing at 2754
{quote} Do you mind saying how you selected the average swing low target of 2745? There are m5 swing targets either side of this one. The2745 target looks good on the h1 chart.
Then for the average to break this 2745 level price moves on to the next level 2739
The 1 hour chart has not yet finished because the EMA is trying to break the average swing at 2754
- #309
- Dec 3, 2018 5:34am Dec 3, 2018 5:34am
- Joined Mar 2016 | Status: Trader | 6,378 Posts
{quote} Hi Nala, the trade happen so soon before Bar 108, how we should deal with this ?
Well on the weekend I said the bears on the 1 hour had not yet finished but they were close enough to keep an eye on them from the open of the week. That would have presented the whole trade to you.
However from about bar 108 there was also bullish divergence on the 5 min but not enough of a target left to get the full 50 pips.
Then shortly after the bar 108 gave us a bearish divergence, the price target has been hit so this is a good likely short and as we watch the 1 hour we see the average again fails to make the HH so it is once again going to try for the LL
My charts look like this at the present
Don't worry about the ABC triangle you see here that is a whole different study than what I have presented.
- #310
- Edited 6:03am Dec 3, 2018 5:52am | Edited 6:03am
- | Joined Sep 2009 | Status: Trader | 1,252 Posts
HI Alan. I refer to your Post 306. Your chart appears a little different from mine. On the H1 chart I have 2 regular divergences, A and B but in yours there is only A. Is there an explanation for it? As you can see, my parameters for the RSI is the same as yours {image}
Trading S/R with PA only. No indicators anymore!
- #319
- Dec 3, 2018 8:51pm Dec 3, 2018 8:51pm
- Joined Mar 2016 | Status: Trader | 6,378 Posts
Handling rejection via those infernal stops.
When we place a trade we also set the stop to limit the damages done by being wrong. Once the trade gets under way it is important to tease the stop into a breakeven situation and it is this stop that gets hit the most. This is all par for the course in trading if possible we lose nothing by covering our risk.
This can be a pain or rather a nuisance because we spend time looking, plotting and all for naught.
Look at this piece of chart where there was a bearish divergence in 4 different positions indicating a turn is on the cards. Taking a trade at each of them would have resulted in three break even stop outs to get to the fourth which paid us a few bob.
The reason for this is that only the 5 min chart is being used here, there is no inference from a higher time frame indicating a short is on offer.
Changing the time frame to a 1 hour (Shown as inset) you would see that the div at 4 was on the EMA, precisely the position we should be looking for a scalping entry.
I know know there are RSI divs on the underside
When we place a trade we also set the stop to limit the damages done by being wrong. Once the trade gets under way it is important to tease the stop into a breakeven situation and it is this stop that gets hit the most. This is all par for the course in trading if possible we lose nothing by covering our risk.
This can be a pain or rather a nuisance because we spend time looking, plotting and all for naught.
Look at this piece of chart where there was a bearish divergence in 4 different positions indicating a turn is on the cards. Taking a trade at each of them would have resulted in three break even stop outs to get to the fourth which paid us a few bob.
The reason for this is that only the 5 min chart is being used here, there is no inference from a higher time frame indicating a short is on offer.
Changing the time frame to a 1 hour (Shown as inset) you would see that the div at 4 was on the EMA, precisely the position we should be looking for a scalping entry.
I know know there are RSI divs on the underside
