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Trading the Cable swings via averages

  • #1,561
  • Feb 4, 2019 11:28pm Feb 4, 2019 11:28pm
At this time I am not sure what to make of this situation.

The 1 hour has hit its targeted ABCD and the D is still holding as resistance.

It looks like the EMA is trying for a lower low (Green Line).

The bullish div (dotted line) has not returned price to the EMA so I am guessing price is going to make a lower low. (Maybe)
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  • #1,562
  • Feb 4, 2019 11:46pm Feb 4, 2019 11:46pm
H1 is posting a bullish Alan div. To me that looks like a warning.
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  • #1,563
  • Feb 5, 2019 12:01am Feb 5, 2019 12:01am
Quoting Bydyke
H1 is posting a bullish Alan div. To me that looks like a warning. {image}
That one has run its course running into a continuation div forming the ABCD. So lots of signals at this stage.
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  • #1,564
  • Feb 5, 2019 1:17am Feb 5, 2019 1:17am
Quoting quangvision
Hi David, On your posted chart, I want to ask exact point of your entries. Where text says "entries 1-3", point where trade 1 executed was at close of next green bar. And where text says "hedge in and out", point where hedge in trade executed was close of next green bar. I say we must wait for green bar to be closed to see slow RSI making higher lows, otherwise if it was closed as red bar then slow RSI could make lower lows and of course no div then. Don't you agree? {image}

Hi Q - good questions and I tend to try enter on bar closes as you say. However, with hedges I am still finding my feet as well and tend to be too conservative I guess so if I see a formation indicating a potential divergence I tend to take it to protect profit.
  • #1,565
  • Feb 5, 2019 1:22am Feb 5, 2019 1:22am
Quoting mikeeating
{quote} This has been my biggest hurdle, for the life of me I can never see on the hrly what way it is likely to head and of course I have to assume an entry on the 5 at a divergence which adds to the confusion often getting stopped out....however once I get in and the trade quickly becomes profit I almost never lose thanks to being able to understand where the 5 min levels are and taking hedges at the div signals.
Mike - In addition to the 5m I find Alan's tip about leading the MA with a symbol to be helpful in determining this. Of course, in combination with divergence and Alan's version of ABCD you should form a decent bias.
  • #1,566
  • Feb 5, 2019 1:38am Feb 5, 2019 1:38am
Anyone reading this as a 1H inference?
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  • #1,567
  • Feb 5, 2019 1:43am Feb 5, 2019 1:43am
Quoting simon.says
Anyone reading this as a 1H inference? {image}
Let's see if it holds up at the top of the hour.
  • #1,568
  • Feb 5, 2019 2:05am Feb 5, 2019 2:05am
15Min Chart
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  • #1,569
  • Feb 5, 2019 2:14am Feb 5, 2019 2:14am
This thing is playing silly buggers on the hour between the two 50% levels
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  • #1,570
  • Feb 5, 2019 2:16am Feb 5, 2019 2:16am
Hooray it broke south
  • #1,571
  • Feb 5, 2019 2:18am Feb 5, 2019 2:18am
Quoting simon.says
15Min Chart {image}
Thanks for that, really have to improve my ABCD reading.
Thanks Alan for posting those lvls too.
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  • #1,572
  • Feb 5, 2019 2:19am Feb 5, 2019 2:19am
Caught the HD at 10h00. Hedge close.

Attached Image
.

Actually shouldn't comment in trade as I'll stuff it up...
  • #1,573
  • Feb 5, 2019 2:23am Feb 5, 2019 2:23am
i took the short and have added the hedge now
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life is a reflection of what we allow ourselves to see
  • #1,574
  • Feb 5, 2019 2:24am Feb 5, 2019 2:24am
Quoting simon.says
15Min Chart {image}
Simon take the pivot price is attacking
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  • #1,575
  • Feb 5, 2019 2:25am Feb 5, 2019 2:25am
Quoting davidmaree
Caught the HD at 10h00. Hedge close. {image}. Actually shouldn't comment in trade as I'll stuff it up...
Good for you David! By the time I could think "hmm was that a Hidden Divergence" price had already moved back to EMA. Chose to stay out. Darn it! Currently watching out for entries to jump in.
  • #1,576
  • Feb 5, 2019 2:33am Feb 5, 2019 2:33am
We need to get into some wide open space, this is a choppy situation.
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  • #1,577
  • Feb 5, 2019 2:34am Feb 5, 2019 2:34am
Quoting simon.says
{quote} Good for you David! By the time I could think "hmm was that a Hidden Divergence" price had already moved back to EMA. Chose to stay out. Darn it! Currently watching out for entries to jump in.
PA after HD's is often like that so you have to practice to be quick on the trigger. Stuffed up my hedge as price gapped up about 2 pips just as I put in the order!! Out of hedge at BE fortunately.
  • #1,578
  • Feb 5, 2019 2:37am Feb 5, 2019 2:37am
Quoting Nala66
We need to get into some wide open space, this is a choppy situation. {image}
Here's hoping that bearish turn continues a tad!!
  • #1,579
  • Feb 5, 2019 2:48am Feb 5, 2019 2:48am
Quoting davidmaree
{quote} PA after HD's is often like that so you have to practice to be quick on the trigger. Stuffed up my hedge as price gapped up about 2 pips just as I put in the order!! Out of hedge at BE fortunately.
Later I would appreciate to analyse why that trade (meaning so high). That candle was London open and lasted seconds.
I am asking just to understand the thought behind that trade.
  • #1,580
  • Feb 5, 2019 2:54am Feb 5, 2019 2:54am
Quoting forex_dimi
{quote} Later I would appreciate to analyse why that trade (meaning so high). That candle was London open and lasted seconds. I am asking just to understand the thought behind that trade.
It was a hidden divergence, which suggests that price should return to the EMA.
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