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Trading the Cable swings via averages

  • #1,501
  • Jan 31, 2019 5:27pm Jan 31, 2019 5:27pm
Down to the weekly and we see the bulls looking for support. The bears have completed the AB = CD some time ago and in doing so ran into divergence.
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  • #1,502
  • Jan 31, 2019 5:38pm Jan 31, 2019 5:38pm
Then we are down to the daily and things start to look real exciting as the bulls are approaching a wide open space. This area would be full of those lovely 100/200 pip moves we like so much. But let's not hold our breath just yet.
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  • #1,503
  • Jan 31, 2019 8:02pm Jan 31, 2019 8:02pm
Quoting Nala66
So this morning and my 5 min chart looks like this.. {image}
Stunningly accurate. Perhaps we can refer to your take on equilibrium as Alan's fork!
  • #1,504
  • Jan 31, 2019 9:18pm Jan 31, 2019 9:18pm
Quoting davidmaree
{quote} Stunningly accurate. Perhaps we can refer to your take on equilibrium as Alan's fork!
Alan's Best Calculated Destination = ABCD
  • #1,505
  • Feb 1, 2019 2:38am Feb 1, 2019 2:38am
Look at this latest ABCD on the 5 min how it failed at the 59% level turned north and hit the target on the opposite side.

The strange thing with these is they then turn and will often go for the original target, in this case the short one. weird!
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  • #1,506
  • Edited 3:21am Feb 1, 2019 2:49am | Edited 3:21am
Target is point D short, or if not directly then looking for failure at 50% toward long D target
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.
  • #1,507
  • Feb 1, 2019 3:18am Feb 1, 2019 3:18am
Nice

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  • #1,508
  • Feb 1, 2019 3:20am Feb 1, 2019 3:20am
Quoting Nala66
Look at this latest ABCD on the 5 min how it failed at the 59% level turned north and hit the target on the opposite side. The strange thing with these is they then turn and will often go for the original target, in this case the short one. weird! {image}
And there we go... Weird huh!
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  • #1,509
  • Feb 1, 2019 3:23am Feb 1, 2019 3:23am
Quoting davidmaree
Nice {image}
David B should be 1 pivot to the right. That is the current pivot under attack
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  • #1,510
  • Feb 1, 2019 3:27am Feb 1, 2019 3:27am
Quoting Nala66
{quote} David B should be 1 pivot to the right. That is the current pivot under attack {image}
Ah, ok thanks Alan. You have mentioned that before so needs to sink in
  • #1,511
  • Feb 1, 2019 3:39am Feb 1, 2019 3:39am
And another one bites the dust
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  • #1,512
  • Feb 1, 2019 3:41am Feb 1, 2019 3:41am
Once you get your eye in you will be seeing them all over the place.
  • #1,513
  • Feb 1, 2019 3:51am Feb 1, 2019 3:51am
Still waiting for these two on the hour..
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  • #1,514
  • Feb 1, 2019 4:22am Feb 1, 2019 4:22am
Missed all that analysis!! (would have lot homework..)
Don't know if trades were correct. Trades taken at rectangular boxes. the 2nd trade was closed at db+2pips (for spread). At the 2nd picture is the 4th trade taken only till last profit level (in the meanwhile a hedge trade was taken and that trade was closed couple of pips above that trade.
The first trade sl moved at previous tp level. Divergence but candle not closed.
PS see that news candle, don't know if was right not closed that trades at that candle - same time was looking 1h chart.
PS2 don't know if that divergence saw at 1h chart was right. Decision was based on that divergence plus 26ema rejection, plus London open price direction.
PS3 Maybe hedging should have closed at 26ema, but wasn't sure if it was retracement or reversal that time (I was thinking all the time that today is NFP day and market cannot be trusted today). I think also trade 4 was wrong. Great risk with few pips profit
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  • #1,515
  • Feb 1, 2019 4:53am Feb 1, 2019 4:53am
Quoting forex_dimi
Missed all that analysis!! (would have lot homework..) Don't know if trades were correct. Trades taken at rectangular boxes. the 2nd trade was closed at db+2pips (for spread). At the 2nd picture is the 4th trade taken only till last profit level (in the meanwhile a hedge trade was taken and that trade was closed couple of pips above that trade. The first trade sl moved at previous tp level. Divergence but candle not closed. PS see that news candle, don't know if was right not closed that trades at that candle - same time was looking 1h chart. PS2...
Well you seem to have made a good job of it anyway...

Starting with the 1 hour div...on time line.

Hedged the 5 min bull divs and closed them for a profit ( a tip here is to close them when you see the bear signal because it is trending down)

What news candle? I never ever look at the news.
  • #1,516
  • Feb 1, 2019 5:00am Feb 1, 2019 5:00am
Well guys if you haven't got your 40 pips worth yet ( you are not trying)

It looks to me like the 1 hour has a little ways to go but price is stalling at the 5 min 50% so there is reason enough to close all now.
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  • #1,517
  • Feb 1, 2019 6:12am Feb 1, 2019 6:12am
Hi Alan,
I do see the effectiveness of using AB-CD pattern. I have some concerns, please help:
1/ A,B,C points are defined by continuation divs, if price below average then we are looking for bearish divs. Draw ABC will show where price would hit next, either upper or lower D. At first posts, you said we measure targets using swing averages and now comes AB=CD. How can we use it correctly along with swing averages?
2/ Is there any better tool to draw AB=CD pattern on MT4 or we have to draw 4 seperate lines to connect 4 points?
Thanks
  • #1,518
  • Feb 1, 2019 10:39am Feb 1, 2019 10:39am
Afternoon all, took these trades
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  • #1,519
  • Feb 1, 2019 10:39am Feb 1, 2019 10:39am
Added
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  • #1,520
  • Feb 1, 2019 10:39am Feb 1, 2019 10:39am
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