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Trading the Cable swings via averages

  • #1,381
  • Jan 27, 2019 10:20pm Jan 27, 2019 10:20pm
Quoting mikeeating
{quote} Alan that is the four hour chart does it matter? while Im asking should we be taking in consideration 4 hr or Daily at all? I have just been working on 5 and 60 for direction and entry, if we are going to have a change of direction wont we see it first on the 1hr before the 4?
Sorry that was a typo I mean 4 hour.

Yes we would see it first however the 4 hour is giving me a heads up for the 1 hour and thus we get down to the 5 min.

The only time I pay much attention to the 4 hour is when it is approaching the levels. If I am taking any inference from it then look what I see on the 1 hour below..

Nothing as yet is telling me there is a short on offer.
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  • #1,382
  • Jan 27, 2019 11:07pm Jan 27, 2019 11:07pm
If we look at the weekly chart it puzzles me a tad because it can be drawn like this, indicating a short is due.

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Or like this ( Yellow )
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Or even like this which I suspect is the right way..
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One thing is for sure I am not going to wait 4, 8, 12 hours to find out.
  • #1,383
  • Jan 28, 2019 1:00am Jan 28, 2019 1:00am
Quoting Nala66
On the 1 hour chart it may simply be holding while the EMA attempts the HH. P.S. I note Bydyke you don't have the EMA swing levels on your 1 hour chart so you are missing this vital piece of the analysis process. {image}

I do have them on another chart (the H4 swing levels) but as you have taught us I notice that the H1 swing levels are the most efficient among all the TFs.

Looking at your H4 chart, I am more convinced about my reliance on Alan div. You must have noticed that I rarely emphasize the regular div. On your chart are 3 regular divs but it was only when the Alan div appeared (even though smaller in length) that PA responded.
  • #1,384
  • Jan 28, 2019 1:07am Jan 28, 2019 1:07am
Am in at 3192 on M5 run.

Am uncomfortable with the bullish Alan div on H1 but so far so good
Attached Image(s) (click to enlarge)
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  • #1,385
  • Jan 28, 2019 1:10am Jan 28, 2019 1:10am
Also looking at the H1 where the RSI 5 is at extreme and RSI 14 is still above 50. But being patient
  • #1,386
  • Jan 28, 2019 1:15am Jan 28, 2019 1:15am
The 5M has now made a lower average high and a lower average low - will it fail to break the next level lower and reverse higher? Is that the question we need to ask ourselves Alan?
  • #1,387
  • Jan 28, 2019 1:19am Jan 28, 2019 1:19am
look like Bull div on the 5

If it fails to cross EMa then lower low?
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life is a reflection of what we allow ourselves to see
  • #1,388
  • Jan 28, 2019 1:45am Jan 28, 2019 1:45am
another?
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life is a reflection of what we allow ourselves to see
  • #1,389
  • Jan 28, 2019 1:46am Jan 28, 2019 1:46am
Quoting mikeeating
look like Bull div on the 5 If it fails to cross EMa then lower low? {image}

At present, that bullish M5 Alan div has failed to propel PA to the M5 average. The old H1 swing hi at 3180 is standing firm. The bears have taken out M5, M15 and M30 averages and are now targeting the H1 average at 3158.

I know Alan doesn't approve of this one: but EMA 200 on M5 at 3179 is now a stumbling block for the bulls. As it is, the old H1 average swing lo at 3147 is beckoning.
But London is opening in 15 minutes and things may change
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  • #1,390
  • Jan 28, 2019 1:48am Jan 28, 2019 1:48am
yep, but not a lot of buying power at the moment. 10 pips off the H1 26 EMA and then the battle begins
  • #1,391
  • Jan 28, 2019 1:54am Jan 28, 2019 1:54am
Yeah, no divergence either on the 60 that I could see
life is a reflection of what we allow ourselves to see
  • #1,392
  • Jan 28, 2019 1:59am Jan 28, 2019 1:59am
Quoting mikeeating
Yeah, no divergence either on the 60 that I could see
The last one was a bullish one Friday about this time. However, we may (or not) get one in the next hour if price reverses.
  • #1,393
  • Jan 28, 2019 2:03am Jan 28, 2019 2:03am
Just closed short on M5, bulls are probably coming: H1 fast RSI oversold but slow RSI not even touch MA, looking to buy again with bullish M5 div forming
  • #1,394
  • Jan 28, 2019 2:06am Jan 28, 2019 2:06am
My shorts at 3192 and 3177 still running. Hoping to exit at 3158 (H1 average) if PA shows any bullish tendencies at that point, ie, 4 pips away. If the bulls don't show up, I will hold them to 3147.
  • #1,395
  • Jan 28, 2019 2:11am Jan 28, 2019 2:11am
Interesting - my H1 average is 1.3163. Which broker do you use Bydyke?
  • #1,396
  • Jan 28, 2019 2:19am Jan 28, 2019 2:19am
Quoting pakeha
Interesting - my H1 average is 1.3163. Which broker do you use Bydyke?

I believe you are right because it is EMA 26. I am yet to thrash it out with Alan but I use EMA 29 because it seems to attract PA better

Meanwhile, have you noticed the Alan div on M15? Let's see whether the Londoners can revive the bulls
  • #1,397
  • Edited 2:33am Jan 28, 2019 2:23am | Edited 2:33am
Quoting pakeha
Interesting - my H1 average is 1.3163. Which broker do you use Bydyke?
Is this wrong then?

edit sorry I thought you were talking about the swing average target
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life is a reflection of what we allow ourselves to see
  • #1,398
  • Edited 2:59am Jan 28, 2019 2:24am | Edited 2:59am
yeah, know what you mean - I have always used the 34 LWMA, which funnily enough is almost the same as the 26EMA. But at the end of the day, they are all just lines so I will go with Alan's 26 EMA and how it matches the RSI 50 at the cross.
  • #1,399
  • Jan 28, 2019 3:07am Jan 28, 2019 3:07am
Bullish Allan DIv on the H1 now
  • #1,400
  • Jan 28, 2019 3:11am Jan 28, 2019 3:11am
Quoting pakeha
Bullish Allan DIv on the H1 now
Yup, I am waiting for M5 bullish support to jump on.
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