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Trading the Cable swings via averages

  • #321
  • Dec 4, 2018 1:48am Dec 4, 2018 1:48am
Quoting Bydyke
Regular div on the hourly. Waiting to see if PA can break the EMA average at 2741 {image}
I see what you are doing. You are comparing price to the fast RSI instead of the slow 14 period.

The fast RSI is used to compare with the slow RSI.
  • #322
  • Dec 4, 2018 2:14am Dec 4, 2018 2:14am
50 pips go up in one minute, so crazy
  • #323
  • Dec 4, 2018 2:30am Dec 4, 2018 2:30am
Quoting KyBakka
50 pips go up in one minute, so crazy
Yep I could only get one trade on.
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  • #324
  • Dec 4, 2018 3:05am Dec 4, 2018 3:05am
Quoting Nala66
{quote} I see what you are doing. You are comparing price to the fast RSI instead of the slow 14 period. The fast RSI is used to compare with the slow RSI.

Thanks. Meanwhile we can say we now have Bull Support on M5 at 2746
Attached Image (click to enlarge)
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  • #325
  • Dec 4, 2018 3:35am Dec 4, 2018 3:35am
Quoting Bydyke
{quote} Thanks. Meanwhile we can say we now have Bull Support on M5 at 2746 {image}
Yep exactly I placed a stage 2 trade there and a stage 3 a little ways up and now I am done for the day.

I got about 55 pips from the earlier stage 1 trade.

So the trades looked like this...
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  • #326
  • Dec 4, 2018 4:05am Dec 4, 2018 4:05am
Regular divergence on M5 and M30
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: GU M5B.png Size: 22 KB
  • #327
  • Dec 4, 2018 7:51am Dec 4, 2018 7:51am
No chart pictures from me today
Have been trading all day for a lousy 2% profit.
I missed the Long completely.
Later on, I was in a 3 stage Short, had to leave my PC, came back and found it closed at my stop just below the 3rd, with only 0.1 pip room above grrrrr.
It hit TP after that.
Well, that's life.

I have to say I like this system very much. Scaling-in is great and the hedging is strong.
I still have to fight myself a bit, I was biased Short for a reason but I should quit such additional analyses.
Trading S/R with PA only. No indicators anymore!
  • #328
  • Dec 4, 2018 7:57am Dec 4, 2018 7:57am
Quoting Bydyke
Regular divergence on M5 and M30 {image} {image}
Be careful, your red lines don't start at the same bar! They should.
Trading S/R with PA only. No indicators anymore!
  • #329
  • Dec 4, 2018 7:59am Dec 4, 2018 7:59am
Quoting Jazz1964
No chart pictures from me today Have been trading all day for a lousy 2% profit. I missed the Long completely. Later on, I was in a 3 stage Short, had to leave my PC, came back and found it closed at BE with only 0.1 pip room above grrrrr. It hit TP after that. Well, that's life. I have to say I like this system very much. Scaling-in is great and the hedging is strong. I still have to fight myself a bit, I was biased Short for a reason but I should quit such additional analyses.
Hi, Actually i was also biased short this morning and did not check the news calendar and was caught with my pants down!! Now busy fighting back my loss!
  • #330
  • Dec 4, 2018 8:37am Dec 4, 2018 8:37am
Quoting Goyatrade
{quote} Hi, Actually i was also biased short this morning and did not check the news calendar and was caught with my pants down!! Now busy fighting back my loss!

Alan's system doesn't border with news. Once your set-up is right, the news makes it easier to make the pips
  • #331
  • Dec 4, 2018 6:36pm Dec 4, 2018 6:36pm
Quoting Bydyke
{quote} Alan's system doesn't border with news. Once your set-up is right, the news makes it easier to make the pips
That is correct, by the time we hear the news it is history, let alone analyse the consequences of it. Our stops are there to take care of business should something happen to threaten us. I don't even look at the news events, I am far too busy trading the factual signals we see, remember we should avoid distractions when trading and that includes not being in any forums viewing the banter of others, including me. Let the charts alone do the talking for you.

Here is something of passing interest on the 1 hour chart...
Attached Image (click to enlarge)
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The averages continue to make LH's and LL's but the price is forming a trumpet pattern as the price swings get larger and larger.

We can see the average is poised to make yet another LL.
  • #332
  • Dec 5, 2018 1:48am Dec 5, 2018 1:48am
Doesn't look like there is much on offer so far.

Can't tell if the bears are going to break the 2703 average swing low or if the bulls are going to stop them.
  • #333
  • Dec 5, 2018 2:50am Dec 5, 2018 2:50am
Morning all, took this initial 5min
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  • #334
  • Dec 5, 2018 2:50am Dec 5, 2018 2:50am
And then also this 15min 2bar test
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  • #335
  • Dec 5, 2018 2:50am Dec 5, 2018 2:50am
Target reached.
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  • #336
  • Dec 5, 2018 3:22am Dec 5, 2018 3:22am
Quoting Riaanvw
Target reached. {image}
Well done!

I took almost the same and I too am done.

Not too difficult hey!
  • #337
  • Dec 5, 2018 4:19am Dec 5, 2018 4:19am
Hi Alan,

First of all, I want to thank you for sharing such a wonderful method. I need to ask you about the current trade on the m5; are you suppose to close the trade and open an opposite trade (hedge) when you see a divergence against you, as explained in the chart. Thank You.
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  • #338
  • Dec 5, 2018 4:24am Dec 5, 2018 4:24am
Thanks Alan and thanks to you for showing your method with your charts and all other explanations, its not too difficult no.
  • #339
  • Edited 6:42am Dec 5, 2018 5:56am | Edited 6:42am
Quoting mickmack5
Hi Alan, First of all, I want to thank you for sharing such a wonderful method. I need to ask you about the current trade on the m5; are you suppose to close the trade and open an opposite trade (hedge) when you see a divergence against you, as explained in the chart. Thank You. {image}
Hi Alan, I also marked the same while I was in my trade earlier although I never took it I just wanted to diarise it to see what would happen had I taken the hedge so not sure if it would have been a valid hedge either because it did happen at the previous 5min ema high level as well?
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  • #340
  • Edited 6:26am Dec 5, 2018 5:57am | Edited 6:26am
Hedge stopped out
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