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Trading the Cable swings via averages

  • #1,901
  • Feb 19, 2019 7:21am Feb 19, 2019 7:21am
It's like it's time for our bull support on M5. Meanwhile, M15 's rally has alligned
  • #1,902
  • Feb 19, 2019 10:19am Feb 19, 2019 10:19am
Is there anybody please summarize today's trades? Thanks
  • #1,903
  • Feb 19, 2019 5:59pm Feb 19, 2019 5:59pm
Quoting quangvision
Is there anybody please summarize today's trades? Thanks
Hi Q, I was late to the party (turned out to be less stressful than the normal session, lol), but if you entered at the correct time this is how I see it. There were two typical entry areas (first one Alan pointed out yesterday after RSI div), and you would've needed to be switched on at hedge time.

My entries were at the start of a new ABCD just before the US session.

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  • #1,904
  • Feb 19, 2019 6:00pm Feb 19, 2019 6:00pm
Quoting Nala66
See what the next hour brings I am hoping for the 2949 minimum
Spot on again!!
  • #1,905
  • Feb 19, 2019 7:15pm Feb 19, 2019 7:15pm
OK let's use the top down approach.

Daily.. We see the bears failed a previous continuation div (1) and the bulls went on to hit the D target.

Then we have this 2nd continuation div where the bears failed at the 505 level. The bears also failed to make the EMA LL and the fast RSI was way down in the basement. At the 50% level we see an RSI div and expect that div to get back across the EMA. So a couple of good clues there as to what is going on in the longer term i.e. IT IS BULLISH.

Remember price is going to take out those EMA swings long before the EMA does and all the moves are predicted in advance by the signals we observe. Absolutely nothing whatsoever to do with news. Price is purely driven by structure and circumstance.
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  • #1,906
  • Feb 19, 2019 7:27pm Feb 19, 2019 7:27pm
Dropping now to the 4 hour and again we see the indications of the price action in the structure, all the information is there, not in the news, theories or planetary alignments.

We see the move started with a regular bullish divergence leading price to the first (1) continuation div and this continued long to hit its D target. Then it moved a tad through this D target to again set up a new much larger continuation div (2).

Any guesses yet as to where price is heading...
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  • #1,907
  • Feb 19, 2019 7:50pm Feb 19, 2019 7:50pm
Now down we go to the hour which brings us into the realm of what is happening when we start to get interested in taking a trade. Our bias is to be long but we also now the higher time frames can wriggle like a king brown so we stay wary.

I was hoping for the 2949 to be broken because that puts price in that wide open space I mentioned last week or so and price should attack the 3118 for the average to break the 2949.. This is why we get those larger than life moves and we should always be on the look out for them and this should be a topic of discussion for this thread to be more beneficial. Thars gold in them thar words.

So what do we see, yep as someone already pointed out a nice continuation div to drag that EMA where we want it putting price in that wide open space to attack the 3118.
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  • #1,908
  • Feb 19, 2019 7:50pm Feb 19, 2019 7:50pm
Quoting Nala66
Dropping now to the 4 hour and again we see the indications of the price action in the structure, all the information is there, not in the news, theories or planetary alignments. We see the move started with a regular bullish divergence leading price to the first (1) continuation div and this continued long to hit its D target. Then it moved a tad through this D target to again set up a new much larger continuation div (2). Any guesses yet as to where price is heading... {image}
Very nice thanks Alan. So likely scenario is long to region around D (EMA swing high there too), and then short toward EMA as RSI div seems to be setting up on 4H.
  • #1,909
  • Feb 19, 2019 7:57pm Feb 19, 2019 7:57pm
Then we plummet to the 5 min where the story is the same old same old which we should all know off by heart by now.

However there is something we should note. Look at the 5 min EMA chart, it has not left any pivots behind on this push up. This in itself is an indication price has no intention of coming south for the winter, at least not in a hurry. If it did turn it would do a series of step downs battling at each step,
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  • #1,910
  • Feb 19, 2019 8:00pm Feb 19, 2019 8:00pm
Quoting davidmaree
{quote} Very nice thanks Alan. So likely scenario is long to region around D (EMA swing high there too), and then short toward EMA as RSI div seems to be setting up on 4H.
I don't see an RSI Div as being of any value until price reaches its D target so be cautious with these shorts. It is a long way south for the Div to take price back to the EMA so I would wait and see in this case.
  • #1,911
  • Feb 19, 2019 8:44pm Feb 19, 2019 8:44pm
Well this thread is now rapidly closing on some 2000 posts with 100 subscribers some of which I have had the pleasure of talking to on Skype.

I would hope that some of the stuff makes sense and indeed makes money for you.

I think it is high time we had a recap in the form of a summary so I will start to make a few notes and write one maybe this weekend.

If you fully understand all I have written then congratulations you have achieved a great deal, far more than you would have if you had paid for this practical information rather than some highly priced theoretical nonsense.

You can refer to this as the LOSS method being Logic, Observation, Signal and Success. Quite an appropriate name for traders don't you think.

Once I write and post the summary I was thinking of starting another thread where we can post our daily observations with a view to predicting the price action and leaving this thread for any remaining questions. I would like your views on that because I believe working together is a much faster way of becoming more familiar with the LOSS method. Who knows you may have something to add that even I haven't considered already.
  • #1,912
  • Feb 19, 2019 9:07pm Feb 19, 2019 9:07pm
A comprehensive summary and condensing your methodology would be great. Presently only able to spend less time than I wish I found it a little difficult to absorb all you were doing as you went - I have most of it but am not clear on some aspects. I for one would really appreciate your condensing everything.
Thank you muchly for your efforts and sharing. I am watching from QLD. - so happy for you mate.
  • #1,913
  • Feb 19, 2019 9:13pm Feb 19, 2019 9:13pm
Quoting Nala66
Well this thread is now rapidly closing on some 2000 posts with 100 subscribers some of which I have had the pleasure of talking to on Skype. I would hope that some of the stuff makes sense and indeed makes money for you. I think it is high time we had a recap in the form of a summary so I will start to make a few notes and write one maybe this weekend. If you fully understand all I have written then congratulations you have achieved a great deal, far more than you would have if you had paid for this practical information rather than some highly...

You have been extremely generous Alan, and I'm sure have the gratitude of many here for your method and your patience. Fully support your idea for a LOSS method thread.
  • #1,914
  • Feb 19, 2019 9:43pm Feb 19, 2019 9:43pm
I joined this thread very late on but I have still had great success with using the strategy. It took a while to get my head around some of the concepts but it has definitely been worth the time. Thank you so much for sharing Alan.
  • #1,915
  • Feb 19, 2019 11:05pm Feb 19, 2019 11:05pm
Quoting Nala66
Well this thread is now rapidly closing on some 2000 posts with 100 subscribers some of which I have had the pleasure of talking to on Skype. I would hope that some of the stuff makes sense and indeed makes money for you. I think it is high time we had a recap in the form of a summary so I will start to make a few notes and write one maybe this weekend. If you fully understand all I have written then congratulations you have achieved a great deal, far more than you would have if you had paid for this practical information rather than some highly...
I am so thankful for all the support you have extended to us during last 3 months here in FF. You were totally helpful and supportive in this thread and I learned a lot. A new thread on longer time frame will give us another chance to learn more about Forex with your support as before. I am sure that your commitment will make all of the difference here in this forum.
If you don't build your DREAM, Someone will hire to help build theirs ...
  • #1,916
  • Edited 1:25am Feb 20, 2019 1:07am | Edited 1:25am
Quoting Nala66
Well this thread is now rapidly closing on some 2000 posts with 100 subscribers some of which I have had the pleasure of talking to on Skype. I would hope that some of the stuff makes sense and indeed makes money for you. I think it is high time we had a recap in the form of a summary so I will start to make a few notes and write one maybe this weekend. If you fully understand all I have written then congratulations you have achieved a great deal, far more than you would have if you had paid for this practical information rather than some highly...
Thank you so much, Alan for this practical information. Summary your methodology would be great. Good idea about daily observations with a view to predicting the price action . I would be grateful if you include more detailed information about rules of drawing ABCD to your summary. Thanks.
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  • #1,917
  • Feb 20, 2019 1:34am Feb 20, 2019 1:34am
5 min regular bull div
  • #1,918
  • Feb 20, 2019 1:45am Feb 20, 2019 1:45am
No Bull support so we move the stop to BE ready to be stopped out, no support so no second trade as yet
  • #1,919
  • Feb 20, 2019 1:46am Feb 20, 2019 1:46am
Alan, wasn't 09h35 bull support? Got second stage on atm.
  • #1,920
  • Feb 20, 2019 1:50am Feb 20, 2019 1:50am
Place pending buy order just above the 5 min latest high just in case we get an impulse bar
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