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Trading the Cable swings via averages

  • #581
  • Dec 17, 2018 3:30am Dec 17, 2018 3:30am
I was long but I am out at the moment
  • #582
  • Dec 17, 2018 3:34am Dec 17, 2018 3:34am
I am expecting the average to break this 2619 but it seems to be struggling a lot.
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  • #583
  • Dec 17, 2018 4:34am Dec 17, 2018 4:34am
Quoting Nala66
I am expecting the average to break this 2619 but it seems to be struggling a lot. {image}

Both regular and Alan's divergences on M5. Are the bulls now tiring?

Meanwhile, I exited my long at 2612. At the side line for now
  • #584
  • Dec 17, 2018 5:05am Dec 17, 2018 5:05am
Quoting Bydyke
{quote} Both regular and Alan's divergences on M5. Are the bulls now tiring? Meanwhile, I exited my long at 2612. At the side line for now
I am only seeing regular bull divergence and no RSI divergence... Can you post charts?
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  • #585
  • Dec 17, 2018 5:11am Dec 17, 2018 5:11am
Quoting Nala66
{quote} I am only seeing regular bull divergence and no RSI divergence... Can you post charts? {image}
Isn't that a bearish div? Price is going up and above the EMA and the regular divergence is going down.
  • #586
  • Dec 17, 2018 5:58am Dec 17, 2018 5:58am
Quoting Nala66
{quote} I am only seeing regular bull divergence and no RSI divergence... Can you post charts? {image}

Here we are: points A, B and C on the chart.

I was carried away with the trade. The bulls are certainly in it. The last M30 candle says it all. But for the last M15 candle, I would have entered another long. Once M15 posts up, I am in.
Attached Image (click to enlarge)
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  • #587
  • Dec 17, 2018 6:01am Dec 17, 2018 6:01am
Quoting Bydyke
{quote} Here we are: points A, B and C on the chart. I was carried away with the trade. The bulls are certainly in it. The last M30 candle says it all. But for the last M15 candle, I would have entered another long. Once M15 posts up, I am in. {image}
I think that B line is wrong. You put it from fast to slow RSI, you must put it from slow to slow. Then you'll see there isn't alan's div there.
  • #588
  • Edited 6:15am Dec 17, 2018 6:04am | Edited 6:15am
PA filled my buy order at 2627. And I am out at 2646.


At present, there is regular divergence on M5 and M15
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: GU M15 1217.png Size: 15 KB
  • #589
  • Dec 17, 2018 6:06am Dec 17, 2018 6:06am
Well there we go, hit the expected target on the hour.
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  • #590
  • Dec 17, 2018 6:19am Dec 17, 2018 6:19am
Just missed the trip from 2646 to 2606 as I was posting. I will heed Alan's advice next time.

On a good note, the market has now opened up
  • #591
  • Dec 17, 2018 6:21am Dec 17, 2018 6:21am
Price hits the 1 hour target in RSI divergence on the 5 min
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  • #592
  • Dec 17, 2018 6:59am Dec 17, 2018 6:59am
Quoting Nala66
Price hits the 1 hour target in RSI divergence on the 5 min {image}
Hi Alan,
Overbought RSI H1 + price closed below MA high on H1 + div on M5 leads to above sell trade, right?
TP is around 2596 and I bet we can only get first stage trade on, right?
  • #593
  • Dec 17, 2018 7:11am Dec 17, 2018 7:11am
Quoting hocius
{quote} I think that B line is wrong. You put it from fast to slow RSI, you must put it from slow to slow. Then you'll see there isn't alan's div there.

You're right. it was a slip. You must have noticed that the other similar div are correctly drawn. Below is the correction
Attached Image (click to enlarge)
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  • #594
  • Dec 17, 2018 9:38am Dec 17, 2018 9:38am
It's like the bears have found support on M5 at 2614
  • #595
  • Edited 6:19pm Dec 17, 2018 5:10pm | Edited 6:19pm
Quoting quangvision
{quote} Hi Alan, Overbought RSI H1 + price closed below MA high on H1 + div on M5 leads to above sell trade, right? TP is around 2596 and I bet we can only get first stage trade on, right?
Kerrect in all respects... Well done

Sorry there was actually an error I don't know where you got the TP from. Since this is a scalp trade, we simply hold until a div tells us not to. In this case the RSI bull div (5 min) came at the 1 hr EMA so we would be expecting price to go long again there.

We can actually just keep moving along with the bouncing ball. The main trade is done so scalp away until your heart is content or stops ticking.
  • #596
  • Dec 17, 2018 6:18pm Dec 17, 2018 6:18pm
Well it's that time of the year we are getting ready to celebrate the past and look forwards to the future.

My trading has tapered off this last week or so due to being exhausted by endless shopping trips and preparations for a well deserved vacation.

I have drawn down my account back to the good old 1K start up ready for the new year activities. I normally don't get back into the swing of things until mid January, that's is like a 1 month rest from all things technical. No TV, phones, internet just the sand, sea and sunshine for a couple of weeks.

Don't worry though I will still be here until Christmas.
  • #597
  • Dec 17, 2018 8:23pm Dec 17, 2018 8:23pm
Quoting Nala66
Well it's that time of the year we are getting ready to celebrate the past and look forwards to the future. My trading has tapered off this last week or so due to being exhausted by endless shopping trips and preparations for a well deserved vacation. I have drawn down my account back to the good old 1K start up ready for the new year activities. I normally don't get back into the swing of things until mid January, that's is like a 1 month rest from all things technical. No TV, phones, internet just the sand, sea and sunshine for a couple of weeks....
Marion Bay??
  • #598
  • Dec 18, 2018 12:51am Dec 18, 2018 12:51am
Quoting Paullum
{quote} Marion Bay??
That's foreshore
  • #599
  • Dec 18, 2018 12:57am Dec 18, 2018 12:57am
Hi Alan

I know this is basic but just wanted to check in case you could add anything (Im still in the process of recognising the divergences)

In reference to yesterday would you agree the charts below best describe the decision to go long?

thanks
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life is a reflection of what we allow ourselves to see
  • #600
  • Edited 2:33am Dec 18, 2018 1:32am | Edited 2:33am
Alan's divergence on M5. Getting set to pull the trigger.

Trigger pulled at 2628
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