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Trading the Cable swings via averages

  • #1,161
  • Jan 17, 2019 2:47am Jan 17, 2019 2:47am
maybe a hedge coming up
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM5.png Size: 25 KB
life is a reflection of what we allow ourselves to see
  • #1,162
  • Jan 17, 2019 2:47am Jan 17, 2019 2:47am
I believe we must have all jumped into the boat by now
  • #1,163
  • Jan 17, 2019 2:48am Jan 17, 2019 2:48am
that was a perfect bounce off 1.28315
life is a reflection of what we allow ourselves to see
  • #1,164
  • Jan 17, 2019 2:51am Jan 17, 2019 2:51am
Quoting mikeeating
that was a perfect bounce off 1.28315
Nice catch Mike.
  • #1,165
  • Edited 3:41am Jan 17, 2019 2:59am | Edited 3:41am
Time now to watch out for our bull support and the 2-bar test

The test is passed.

The targets I am seeing are 2971 (H4 average) and 2986 (H1 average). Is there anyone with contrary figures?

Well, there are also 2903 and 2953 on M5
  • #1,166
  • Jan 17, 2019 3:20am Jan 17, 2019 3:20am
Quoting Bydyke
Time now to watch out for our bull support and the 2-bar test The test is passed. The targets I am seeing are 2971 (H4 average) and 2986 (H1 average). Is there anyone with contrary figures?
Could you post the chart? I'm at work and I don't have MT4 here.

Thanks!
  • #1,167
  • Jan 17, 2019 3:28am Jan 17, 2019 3:28am
Quoting hocius
{quote} Could you post the chart? I'm at work and I don't have MT4 here. Thanks!

OK
Attached Image (click to enlarge)
Click to Enlarge Name: GU M5 0117.png Size: 25 KB
  • #1,168
  • Jan 17, 2019 3:34am Jan 17, 2019 3:34am
I see a small RSI bearish div. Maybe a place to hedge.

We also might get a regular bearish div soon.
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  • #1,169
  • Jan 17, 2019 3:43am Jan 17, 2019 3:43am
Quoting hocius
I see a small RSI bearish div. Maybe a place to hedge. We also might get a regular bearish div soon. {image}
You are right and it has played out
Attached Image (click to enlarge)
Click to Enlarge Name: GU M5 0117 B.png Size: 32 KB
  • #1,170
  • Jan 17, 2019 3:49am Jan 17, 2019 3:49am
Here you go if you didn't see these...
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  • #1,171
  • Jan 17, 2019 3:54am Jan 17, 2019 3:54am
Quoting Nala66
Here you go if you didn't see these... {image}
We have now a regular bearish div, right? On the last pullback
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  • #1,172
  • Jan 17, 2019 3:55am Jan 17, 2019 3:55am
We could have waited a tad longer until price hit the average swing target and was still in divergence. This would have been the perfect exit place.
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  • #1,173
  • Jan 17, 2019 3:58am Jan 17, 2019 3:58am
Quoting hocius
{quote} We have now a regular bearish div, right? On the last pullback
Yes, if you must keep on trading but by now we have had the swing down and a swing back up again it may just get messy from here.
  • #1,174
  • Jan 17, 2019 3:59am Jan 17, 2019 3:59am
The Div failed to cross the EMA so we should see a HH,
All that was a test of the bullish support
  • #1,175
  • Jan 17, 2019 4:10am Jan 17, 2019 4:10am
Quoting Nala66
{quote} Yes, if you must keep on trading but by now we have had the swing down and a swing back up again it may just get messy from here.
would you say it's difficult in general to trade at the moment?
life is a reflection of what we allow ourselves to see
  • #1,176
  • Jan 17, 2019 4:16am Jan 17, 2019 4:16am
Quoting mikeeating
{quote} would you say it's difficult in general to trade at the moment?
As Alan said, GU likely pushing north to make average HH as it failed to make LL. Anyway all trades done for today by now with well more than 40 pips target. Cheers
  • #1,177
  • Jan 17, 2019 4:30am Jan 17, 2019 4:30am
Quoting quangvision
{quote} As Alan said, GU likely pushing north to make average HH as it failed to make LL. Anyway all trades done for today by now with well more than 40 pips target. Cheers
Thanks, Im already out I got 45 pips, what I was asking was more about the general choppy behaviour over recent weeks

When its choppy I get anxious , I like the 50 pip in 5 lol
life is a reflection of what we allow ourselves to see
  • #1,178
  • Jan 17, 2019 4:37am Jan 17, 2019 4:37am
Quoting mikeeating
{quote} Thanks, Im already out I got 45 pips, what I was asking was more about the general choppy behaviour over recent weeks When its choppy I get anxious , I like the 50 pip in 5 lol
So refer to the 5 min EMA chart to spot those choppy conditions.
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  • #1,179
  • Jan 17, 2019 4:38am Jan 17, 2019 4:38am
Anyone find their Cycle Lines got messed up over Christmas / New Year.

Mine moved 2 bars to the right on 26th Dec and again on 2nd Jan.
Good Trading
  • #1,180
  • Jan 17, 2019 4:41am Jan 17, 2019 4:41am
I suppose it is a matter of getting used to reading the charts in a way you all may not be used to.

This means practice and lots of it until it becomes second nature to you like driving a car. But still expect to have a bingle from time to time.
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