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Trading the Cable swings via averages

  • #1,881
  • Feb 18, 2019 3:59am Feb 18, 2019 3:59am
Quoting Nala66
{quote} Yes so this locked up the trade then I took a new trade long at the second div I was looking at it like this {image}
OK no worries thanks

I can see your drawing them differently but i can also see why because price is falling but rsi rising ....but in regards to how I am drawing them is it correct? because it seems to be working well lately
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life is a reflection of what we allow ourselves to see
  • #1,882
  • Feb 18, 2019 4:12am Feb 18, 2019 4:12am
Quoting mikeeating
{quote} OK no worries thanks I can see your drawing them differently but i can also see why because price is falling but rsi rising ....but in regards to how I am drawing them is it correct? because it seems to be working well lately {image}
Yes you seem to be.

Let me see if I can explain this so it makes sense...

From the top I managed to get 6 trades on. Now this is either going to continue down and make my pips for the day or I am going to have to hedge at some point.

The latter was the case in this case so I hedge the 6 trades long on that first div you rightly pointed out. This div did not make the EMA so it is going to make the LL which it did but again in div so I started a new long trade there (the original is all locked up safely) I moved all the stops for the shorts so all the stops are in the same position in a winning situation.

This second div took out all those short stops leaving me with two trades long and I only needed a tad over 20 pips which it made easily, the rest was a bonus.
  • #1,883
  • Feb 18, 2019 4:19am Feb 18, 2019 4:19am
Quoting Nala66
{quote} Yes you seem to be. Let me see if I can explain this so it makes sense... From the top I managed to get 6 trades on. Now this is either going to continue down and make my pips for the day or I am going to have to hedge at some point. The latter was the case in this case so I hedge the 6 trades long on that first div you rightly pointed out. This div did not make the EMA so it is going to make the LL which it did but again in div so I started a new long trade there (the original is all locked up safely) I moved all the stops for the shorts...
Thanks, yes it makes perfect sense and every week it gets clearer, I usually hedge at those signals, sometimes slightly late, but it always ends up being worth it, sometimes though if the hedge is not at 5 min swing level, I umm and ahh and then you know the rest !!
life is a reflection of what we allow ourselves to see
  • #1,884
  • Feb 18, 2019 4:28am Feb 18, 2019 4:28am
The trades are all over the place, the more we can load in the better our hedge will be.

Trade with a view to loading up as much as we can for the hedge using the signals like this..
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  • #1,885
  • Feb 18, 2019 5:57am Feb 18, 2019 5:57am
Finally the bullish move weakens and we can close.

The point is we loaded up on shorts for a good sized hedge which then paid the bills.

It could have gone the other way and loading up on the shorts may have made the distance so we would not have needed the hedge at all.
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  • #1,886
  • Feb 18, 2019 9:52am Feb 18, 2019 9:52am
Quoting Nala66
Finally the bullish move weakens and we can close. The point is we loaded up on shorts for a good sized hedge which then paid the bills. It could have gone the other way and loading up on the shorts may have made the distance so we would not have needed the hedge at all. {image}
Hi Alan, can you please help me with my questions written on your chart? Thanks
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  • #1,887
  • Feb 18, 2019 5:54pm Feb 18, 2019 5:54pm
Quoting quangvision
{quote} Hi Alan, can you please help me with my questions written on your chart? Thanks {image}
Not quite sure what the questions are here but let's have a go.

Your first white circle was a hedge of the down move shorts this locks in all the profits so far made. Now the last time I did this I made the mistake of putting a stop which I moved to B/E on the hedge this was an error on my part which no one picked up so I didn't mention it.

Once a trade is hedged no stops long or short are required.

This div did not even make the EMA let alone cross it so we are going to see a LL, which we did. This LL was also a div so was the start of a new trade long and a good opportunity to close the shorts for the profit they have made. So now I am left with two trades long which did the business effecting the close all.

The next trade, which I did not take because I am done for the day, started with the HD so we load what we can with shorts the hedge then came at the bull support which was also an RSI div which we expect to cross the EMA. It did cross so we close the shorts and get ready to hedge the hedge if required. On the way up we can add to our hedged longs because we have the opportunity to do so. Then we need to hedge the hedge at the top which was an RSI div and the whole of the profits would be locked in. This depends on how much profit has been made, I say quit when done because over trading is a bad idea.

Now suppose we did hedge this hedge we would even now be that same trade because price has just gone sideways for hours, we have had a few opportunities to add to the short hedge and balanced this locking in more profit with long corrective hedges. However we do it the require sum is added to our profitable account.
  • #1,888
  • Feb 18, 2019 5:59pm Feb 18, 2019 5:59pm
Quoting Nala66
{quote} On the way up we can add to our hedged longs because we have the opportunity to do so.
I noticed you wrote this last night and I cant believe I missed or didn't think of it, makes perfect sense, no wonder you clock it up so quick as the new trade could turn into 40 pips beyond and it doesn't matter about the original short as long as you close it in profit and adding to the new trade compounds your profit
life is a reflection of what we allow ourselves to see
  • #1,889
  • Feb 18, 2019 10:26pm Feb 18, 2019 10:26pm
Quoting mikeeating
{quote} I noticed you wrote this last night and I cant believe I missed or didn't think of it, makes perfect sense, no wonder you clock it up so quick as the new trade could turn into 40 pips beyond and it doesn't matter about the original short as long as you close it in profit and adding to the new trade compounds your profit
That is correct Mike we push if the market shoves but we always protect as we go.
  • #1,890
  • Feb 19, 2019 12:56am Feb 19, 2019 12:56am
Just before Frankie open we have bear support on 1h and MA turning.
  • #1,891
  • Feb 19, 2019 1:18am Feb 19, 2019 1:18am
Quoting davidmaree
Just before Frankie open we have bear support on 1h and MA turning.
Yep but the 1 hour has previously reached the D target.

I am going to wait a tad to see what happens with the EMA on the hour.
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  • #1,892
  • Feb 19, 2019 1:21am Feb 19, 2019 1:21am
5 min RSI bull div has crossed the EMA looking for bull support
  • #1,893
  • Feb 19, 2019 3:12am Feb 19, 2019 3:12am
Looks like we are looking for bull support on the hour now. I hedged at the top with the 5 min div
  • #1,894
  • Feb 19, 2019 3:14am Feb 19, 2019 3:14am
It's just tightroping the D1 average at the moment.
Can it find support?
  • #1,895
  • Feb 19, 2019 3:19am Feb 19, 2019 3:19am
My 5 min chart looks like this now
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  • #1,896
  • Feb 19, 2019 3:21am Feb 19, 2019 3:21am
Quoting fxmars
It's just tightroping the D1 average at the moment. Can it find support?
Yes and my daily looks like this
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  • #1,897
  • Feb 19, 2019 3:24am Feb 19, 2019 3:24am
See what the next hour brings I am hoping for the 2949 minimum
  • #1,898
  • Feb 19, 2019 5:21am Feb 19, 2019 5:21am
Is this ABCD pattern correct from the 1 hr?

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  • #1,899
  • Edited 6:21am Feb 19, 2019 6:02am | Edited 6:21am
It's like the bulls have resumed their song; powered by M30 and H4 bullish Alan divs
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  • #1,900
  • Edited 7:07am Feb 19, 2019 6:47am | Edited 7:07am
The M5 rally/run is back on track. That of M15 will soon follow. Those of M30 and above are still intact.

1.05 pm GMT: 35 pips in a twinkle! Who says GU is not a darling.
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