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Trading the Cable swings via averages

  • #2,241
  • Mar 5, 2019 2:03am Mar 5, 2019 2:03am
Looks like price is trying for the 3210
  • #2,242
  • Mar 5, 2019 2:05am Mar 5, 2019 2:05am
Hi, is there anybody trading bullish RSI div on H4?
  • #2,243
  • Mar 5, 2019 2:39am Mar 5, 2019 2:39am
Quoting quangvision
Hi, is there anybody trading bullish RSI div on H4?
I traded the internal H4 divergence (circled), but it ran at bearish RSI divergence right off the bat so I took profit at the H1 EMA and now waiting for a next signal (perhaps on a retest of the M5 Bull support?). It always seems to get a bit choppy/messy when the M5 and H1 EMA converge, so I'm being more picky and taking profits faster (personal preference).

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Weekly has already given us Regular divergence, but I feel like Daily should too before we turn, so have my bias slightly erring to the upside despite the down movements over the past few trading days. Don't ignore any good signals on lower timeframes ofc - they just need a bit more patience before they go. Happy hunting!
  • #2,244
  • Mar 5, 2019 2:40am Mar 5, 2019 2:40am
Quoting quangvision
Hi, is there anybody trading bullish RSI div on H4?
I am looking to take longs on the lower time frame because of it.
  • #2,245
  • Mar 5, 2019 3:04am Mar 5, 2019 3:04am
Closed my longs in favour of the hedge short (=20 pips so far) hedge has almost made the difference up.
  • #2,246
  • Mar 5, 2019 3:06am Mar 5, 2019 3:06am
Closed the hedge also, 5 pips to go...later
  • #2,247
  • Mar 5, 2019 3:06am Mar 5, 2019 3:06am
Quoting Nala66
Closed my longs in favour of the hedge short (=20 pips so far) hedge has almost made the difference up.
I need your charts, Alan
  • #2,248
  • Mar 5, 2019 3:14am Mar 5, 2019 3:14am
Bit messy again today...
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  • #2,249
  • Mar 5, 2019 3:45am Mar 5, 2019 3:45am
That's it I'm done with 15 bonus pips
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  • #2,250
  • Mar 5, 2019 3:52am Mar 5, 2019 3:52am
Quoting Zelias
{quote} I traded the internal H4 divergence (circled), but it ran at bearish RSI divergence right off the bat so I took profit at the H1 EMA and now waiting for a next signal (perhaps on a retest of the M5 Bull support?). It always seems to get a bit choppy/messy when the M5 and H1 EMA converge, so I'm being more picky and taking profits faster (personal preference). {image} Weekly has already given us Regular divergence, but I feel like Daily should too before we turn, so have my bias slightly erring to the upside despite the down movements over...
... and the M5 Bull support entry, as ordered.

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  • #2,251
  • Mar 5, 2019 4:00am Mar 5, 2019 4:00am
Quoting Nala66
Bit messy again today... {image}
Hi Alan,

I've got a question here: why"Close All" as opposed to going for another Long exactly at the spot where you closed? That was a Bullish RSI divergence (as per my understanding) and our overall bias was Bullish too. RSI was at the extreme on M1 and price didn't close below the M5 EMA.

Thanks
  • #2,252
  • Mar 5, 2019 4:16am Mar 5, 2019 4:16am
Testing the bull support from a bear div is very iffy
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  • #2,253
  • Mar 5, 2019 4:27am Mar 5, 2019 4:27am
Quoting Zelias
{quote} Hi Alan, I've got a question here: why"Close All" as opposed to going for another Long exactly at the spot where you closed? That was a Bullish RSI divergence (as per my understanding) and our overall bias was Bullish too. RSI was at the extreme on M1 and price didn't close below the M5 EMA. Thanks
Exactly but my hedge was short so of course I close if the price is going back up, which it did giving me those extra pips.

I could have hedged the hedge but what would be the point if I know it is going higher.
  • #2,254
  • Mar 5, 2019 4:35am Mar 5, 2019 4:35am
Quoting Nala66
{quote} Exactly but my hedge was short so of course I close if the price is going back up, which it did giving me those extra pips. I could have hedged the hedge but what would be the point if I know it is going higher.
I think I didn't phrase my question correctly. It was not about hedging the hedge (taking profit is perfect), but rather why wait for further confirmation before taking a Long and not take it right after closing the short as the setup was there. Just want to make sure I'm not missing anything
  • #2,255
  • Mar 5, 2019 4:51am Mar 5, 2019 4:51am
Quoting Zelias
{quote} I think I didn't phrase my question correctly. It was not about hedging the hedge (taking profit is perfect), but rather why wait for further confirmation before taking a Long and not take it right after closing the short as the setup was there. Just want to make sure I'm not missing anything
Because we are under a bear div threatening to cross the EMA but the point I closed was a bull signal so I have both a bear signal and a bull signal = close and wait and see.

Here I have added more info...
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  • #2,256
  • Mar 5, 2019 5:02am Mar 5, 2019 5:02am
So we have seen where the 5 min failed so we test the opposite side.....
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  • #2,257
  • Mar 5, 2019 5:06am Mar 5, 2019 5:06am
Quoting Nala66
{quote} Because we are under a bear div threatening to cross the EMA but the point I closed was a bull signal so I have both a bear signal and a bull signal = close and wait and see. Here I have added more info... {image}
Cool, thank you lots!
  • #2,258
  • Mar 5, 2019 5:27am Mar 5, 2019 5:27am
This one may be new to you all ...
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  • #2,259
  • Mar 5, 2019 5:28am Mar 5, 2019 5:28am
Quoting Nala66
This one may be new to you all ... {image}
That's mean bull will come?
  • #2,260
  • Mar 5, 2019 5:31am Mar 5, 2019 5:31am
I see bull div on M15.
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