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Trading the Cable swings via averages

  • #981
  • Jan 10, 2019 4:26am Jan 10, 2019 4:26am
Quoting Zelias
{quote} In real time of trading I actually considered this earlier one as 2 bar test and RSI divergence. Not sure which one of the two is correct (perhaps both, or neither lol) {image} Alan, could you check and let us know, pls?
You are correct
  • #982
  • Jan 10, 2019 4:28am Jan 10, 2019 4:28am
Quoting mikeeating
{quote} yeah I hedged up into the EMA and now gone short again but maybe two early but it looks like bears have support {image}
Correct thing to do...well done
  • #983
  • Jan 10, 2019 4:30am Jan 10, 2019 4:30am
Quoting Gleam
{quote} Hi, Alan. Thank you.Can it be call hidden divergence in yellow dotted line? {image}
Yep...well done
  • #984
  • Jan 10, 2019 4:43am Jan 10, 2019 4:43am
OK you guys are again missing the poin of what the 1hr chart is telling you.

Price has crossed the EMA so that would have been seen as a downtrend on the lower time frames.

Then it has to make a pull back on the hour to FIND bearish support, so if trading short on the lower timeframe you would hedge this pull back.

The 1 hour has FOUND bear support so it continues south... Take off the hedge and pocket the profit.

Where does it look like it is going on the hour chart... Then take signals in that direction and hedge the signals in the opposite direction.
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  • #985
  • Jan 10, 2019 9:23am Jan 10, 2019 9:23am
Hi Alan,

got a question on 2 bar test.

When the next bar did not break the 2 bar test line, do I wait for more bars to form and break the trendline eventually OR do I abandon the current div trade and wait for a new div trade to setup and then enter?

Thanks
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  • #986
  • Jan 10, 2019 5:22pm Jan 10, 2019 5:22pm
Quoting mickmack5
Hi Alan, got a question on 2 bar test. When the next bar did not break the 2 bar test line, do I wait for more bars to form and break the trendline eventually OR do I abandon the current div trade and wait for a new div trade to setup and then enter? Thanks {image}
G'day mickmac

First off how can this be a two bar test if you are testing 4 bars?

I have corrected your chart but what you should be also asking yourself is the Div is not far from the EMA so would this trade be worth the effort.

If you take the same scenario on the 1 hour chart then the numbers of obtainable pips increases and you trade these 1 hr pips at the 5 min level in the required direction.
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  • #987
  • Jan 10, 2019 10:49pm Jan 10, 2019 10:49pm
Morning all, took this long off the 60ema
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  • #988
  • Jan 10, 2019 11:34pm Jan 10, 2019 11:34pm
Quoting Riaanvw
Morning all, took this long off the 60ema {image}
Strange Riaan I only see a short RSIDiv on the hour at this time
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  • #989
  • Jan 11, 2019 12:11am Jan 11, 2019 12:11am
Ok with that last 1hr div that printed It will probably be a stop out then.
  • #990
  • Edited 12:54am Jan 11, 2019 12:31am | Edited 12:54am
So would I be right in my thinking that -with the current Bearish Div, once we cross the 1hr EMA our target would be the last swing which would be 1.27382 (23 pips)

And then depending on the reaction on this level, if we find bearish support our next target would be the 1.25875? (146 pips) edit: or we hedge

edit: I just added another level as this is also a swing on the 4HR ( not sure of that matters but its in the middle 1.26369 )
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life is a reflection of what we allow ourselves to see
  • #991
  • Jan 11, 2019 12:37am Jan 11, 2019 12:37am
Hi all..

Short.. It can be too early.. but it for learning, will see ..
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  • #992
  • Jan 11, 2019 12:41am Jan 11, 2019 12:41am
Quoting Gleam
Hi all.. Short.. It can be too early.. but it for learning, will see .. {image}
yeah im in the same place pretty much, we are early to trade but our trades are late entry lol ( well I have the stop at break even so hooray)
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life is a reflection of what we allow ourselves to see
  • #993
  • Jan 11, 2019 1:05am Jan 11, 2019 1:05am
would this of been bullish divrsi?
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life is a reflection of what we allow ourselves to see
  • #994
  • Jan 11, 2019 1:11am Jan 11, 2019 1:11am
Quoting mikeeating
would this of been bullish divrsi? {image}
Same here....BE. H1 closed bellow EMA
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  • #995
  • Jan 11, 2019 1:17am Jan 11, 2019 1:17am
Quoting Gleam
{quote} Same here....BE. H1 closed bellow EMA {image}
I did almost hedge there as it was 5 min level swing area, but I didnt, but have re entered and at BE again
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life is a reflection of what we allow ourselves to see
  • #996
  • Jan 11, 2019 1:27am Jan 11, 2019 1:27am
I dunno if its just me, but it seem's like its as choppy as anything lately, whatever happened to our support within 15 min of open and then 50 pips in 5 min? lol
life is a reflection of what we allow ourselves to see
  • #997
  • Jan 11, 2019 1:29am Jan 11, 2019 1:29am
Too short distance between levels on M5...anyway short again....will see
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  • #998
  • Jan 11, 2019 1:52am Jan 11, 2019 1:52am
Quoting Gleam
Too short distance between levels on M5...anyway short again....will see {image}
May HD forming on H1, moving average support level reached on M5, London opening in 10 min. BE
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  • #999
  • Jan 11, 2019 1:58am Jan 11, 2019 1:58am
Quoting mikeeating
would this of been bullish divrsi? {image}
No it would have been a bearish div but failed the two bar test to take it short
  • #1,000
  • Jan 11, 2019 1:59am Jan 11, 2019 1:59am
Long at 2750 as M5 has closed above an old M5 swing hi at 2747. SL at 2734. Basis: Alan's divergence on M30
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