Trading the Cable swings via averages

Quoting mikeeating

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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

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Quoting mikeeating

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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 ) {image}

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Quoting Bydyke

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Long at 2750 as M5 has closed above an old M5 swing hi at 2747. SL at 2734. Basis: Alan's divergence on M30 {image}

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Quoting Gleam

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Too short distance between levels on M5...anyway short again....will see {image}

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Quoting Nala66

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The bulls are having a problem with the bear support {image}

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Quoting Nala66

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{quote} 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. {image}

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Quoting Nala66

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The bulls are having a problem with the bear support {image}

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Quoting mikeeating

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maybe down now {image}

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Quoting Zelias

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{quote} Mike, why do you hedge double your position? Or do you have more positions from the top?

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Quoting mikeeating

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.{quote} Just because of where that support was, so I added more than the original position. Also because of the divrsi. I do move my stops to BE asap

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Quoting Zelias

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{quote} My question was in regards to the sizing of the buy. A hedge would imply putting on an opposite trade equal to the Sum (Total size) of your existing trades. Otherwise, it's not a hedge (it becomes speculation) as per my understanding.

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Quoting mikeeating

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{quote} yes your right I am just using what I have learnt to make some money, but the swings are tight so I have been trying to make the shorter moves more profitable

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