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Trading the Cable swings via averages

  • #401
  • Dec 11, 2018 2:44am Dec 11, 2018 2:44am
Quoting aud
{quote} Not sure if it will update back dated data, but just in case: Menu>Tools>Options>Charts>Max bars in ....... You can type in a value higher than the drop down list.
Thanks I have tried this before but couldn't get it to work for me. Will try again...

Just closed a nice 5 min scalp for 50 pips.
  • #402
  • Dec 11, 2018 2:44am Dec 11, 2018 2:44am
3
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  • #403
  • Dec 11, 2018 2:44am Dec 11, 2018 2:44am
+48 pips
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  • #404
  • Dec 11, 2018 2:50am Dec 11, 2018 2:50am
Quoting aud
{quote} Not sure if it will update back dated data, but just in case: Menu>Tools>Options>Charts>Max bars in ....... You can type in a value higher than the drop down list.
Naw the darn thing does not back date, grrrrr

My fault for not keeping my notebook up to date recording the levels.
  • #405
  • Dec 11, 2018 2:54am Dec 11, 2018 2:54am
Quoting Riaanvw
+48 pips {image}
Well done but again a tad late getting in...

It looks like it may go short now with a div forming on the 1 hour
  • #406
  • Dec 11, 2018 3:08am Dec 11, 2018 3:08am
Thanks Alan, I need to be a bit more nimble on my entries. Div on the 1hr? I don't see it yet?
  • #407
  • Dec 11, 2018 3:13am Dec 11, 2018 3:13am
This i would assume?
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  • #408
  • Dec 11, 2018 3:15am Dec 11, 2018 3:15am
Quoting Riaanvw
Thanks Alan, I need to be a bit more nimble on my entries. Div on the 1hr? I don't see it yet?
The bulls are trying to pull up out of it and no signal on the 5 min

Yellow lines
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  • #409
  • Dec 11, 2018 3:24am Dec 11, 2018 3:24am
Nope, no joy there but we may now get a 5 min scalp div short... About 25 pips back to the EMA
  • #410
  • Dec 11, 2018 3:31am Dec 11, 2018 3:31am
Darn it stopped out for a small loss.

I may quit for a while now because the tick chart keeps stopping due to lack of interest at the moment.
  • #411
  • Dec 11, 2018 3:32am Dec 11, 2018 3:32am
Ok got it, thanks.
  • #412
  • Dec 11, 2018 3:37am Dec 11, 2018 3:37am
5 min has hit its target a break of this to drag up the EMA behind it would result in a large bull move so maybe the bears don't like that.
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  • #413
  • Dec 11, 2018 4:22am Dec 11, 2018 4:22am
Good morning all,

Thanks for your answers Alan. How do you identify that bears have found support? Is by that red circle in the RSI?
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  • #414
  • Dec 11, 2018 4:36am Dec 11, 2018 4:36am
Quoting hocius
Good morning all, Thanks for your answers Alan. How do you identify that bears have found support? Is by that red circle in the RSI? {image}
Ha actually that red circle was not for the bear support but that is exactly where it was.

Bear support... Bears push from above the EMA to cross it and the bulls fail to take it back = Bears FIND support.

Bull support... Bulls push up from below the EMA to cross it and the bears fail to take it back Bull FIND support

So if we have a divergence price should cross the EMA and then we look for the support to continue the move.
  • #415
  • Dec 11, 2018 4:42am Dec 11, 2018 4:42am
At last, PA has hit M5 average. Let's see what happens next
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  • #416
  • Dec 11, 2018 4:42am Dec 11, 2018 4:42am
Here on the 5 min chart we have a bearish divergence taking price back across the EMA.

Note how it was in divergence at the average swing level we use as a target
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  • #417
  • Dec 11, 2018 4:44am Dec 11, 2018 4:44am
Quoting Bydyke
At last, PA has hit M5 average. Let's see what happens next {image}
It hit in divergence so it is a short
  • #418
  • Dec 11, 2018 4:55am Dec 11, 2018 4:55am
It hits the level in divergence.

Divergence returns the price to the EMA.

This stops the EMA making the HH

Price should now test the opposite side if the bears can FIND the support to do so.
  • #419
  • Dec 11, 2018 4:59am Dec 11, 2018 4:59am
So what can happen now?

The bulls could take back the support so price can continue long.

This means if we are short we should get that stop to BE ASAP for each trade we take.

We should also be watching for a potential bullish divergence where we may opt to hedge the trade for insurance.
  • #420
  • Dec 11, 2018 5:04am Dec 11, 2018 5:04am
The bears now have the support so we should be targeting the 2572 level at least

Stop should be at BE
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