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Trading the Cable swings via averages

  • #2,281
  • Mar 5, 2019 8:29pm Mar 5, 2019 8:29pm
Here is an example of things going wrong and why we should pay attention to the signals.

Sorry about all the lines on the chart but I have numbered the points of interests.

1) This was a regular bullish div which should send the price back to the EMA so we can measure that and indeed it did so.
2) Was where the bulls found support so we would expect price to run up to X
3) Stopped the northern run in the form of a continuation div.
4) The bull support was smashed and the bears found support instead.
5) Is a 50% of the AB continuation div.

As far as I see it at this time is we are in don't know territory, in this case we sit on the side until a bus comes along we can ride on.
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  • #2,282
  • Edited 9:56pm Mar 5, 2019 8:53pm | Edited 9:56pm
I think there is a continuation div on the 1 hr

EDIT - l didn't see alan had already posted it. Im half asleep this morning!

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  • #2,283
  • Mar 5, 2019 8:54pm Mar 5, 2019 8:54pm
Quoting russian30
I think there is a continuation div on the 1 hr {image}
And continuation too on H4.
  • #2,284
  • Mar 5, 2019 10:57pm Mar 5, 2019 10:57pm
Quoting Gilaforex13
{quote} And continuation too on H4.
Correct. The 4 hour and the 1 hour have about the same D target
  • #2,285
  • Mar 6, 2019 1:11am Mar 6, 2019 1:11am
nice bearish div on the 5 and 1min

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  • #2,286
  • Mar 6, 2019 2:10am Mar 6, 2019 2:10am
The key seems to be here on the Daily making things very choppy
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  • #2,287
  • Mar 6, 2019 7:50am Mar 6, 2019 7:50am
Quoting Nala66
The key seems to be here on the Daily making things very choppy {image}
Awesome, I admire your ability to analyze the market. To be honest I don't take any trade for today cause nothing is clear enough to take
  • #2,288
  • Mar 6, 2019 8:10am Mar 6, 2019 8:10am
I am with you Quangvision.
It IS choppy.
Respect.
Trading S/R with PA only. No indicators anymore!
  • #2,289
  • Mar 6, 2019 8:11am Mar 6, 2019 8:11am
div setup on the 1 min might playout

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  • #2,290
  • Mar 6, 2019 8:40am Mar 6, 2019 8:40am
Price is accumulating atm, getting ready for a larger move.
On the H4 (se chart) we are trading below the average, but, as Alan pointed out, the D1 has run into support.
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  • #2,291
  • Mar 6, 2019 10:12am Mar 6, 2019 10:12am
could be another 1 min div setup

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  • #2,292
  • Mar 6, 2019 6:12pm Mar 6, 2019 6:12pm
Well that was difficult trading yesterday, I was only able to scalp profits during my session. Still we can't expect to be on the bigger money everyday and must respect the market for what it is.

I logged in to the platform with interest this morning to see how things worked out overnight and just as I suspected the price ended up pretty much the way it started out, not quite a daily dodgy but close.

Now the interesting thing is this... The daily is under a divergence but has failed to cross the EMA so now we must expect price to make a HH in the days to come. I put a simple channel on the daily and price has broken it long if that has any meaning at all. I was expecting price to drop below the EMA to create a continuation divergence but that hasn't happened.

The average does now appear to want to break the 3096 level so we may see price hit the 3274. That is only about 100 pips away from where it is now.
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  • #2,293
  • Mar 6, 2019 6:36pm Mar 6, 2019 6:36pm
The 26 EMA Humps

The object is for the average to make the HH or LL against previous swings. These levels do give us targets for the price because obviously price has to break the level before the average does.

What is happening with this tool is incorrect in that the lines closes when price closes across it. It should close off when the average closes across it.

We should be comparing average to average and not price to average. As in the example below.

Probably this is just a minor change in the coding of the tool. It could also be coded in such a way that it does close the line on the price cross but then continues in a different color until the average crosses. ( Like in the chart below) Now that would be elegant, two birds with one stone.
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  • #2,294
  • Mar 6, 2019 8:38pm Mar 6, 2019 8:38pm
Quoting Nala66
The 26 EMA Humps The object is for the average to make the HH or LL against previous swings. These levels do give us targets for the price because obviously price has to break the level before the average does. What is happening with this tool is incorrect in that the lines closes when price closes across it. It should close off when the average closes across it. We should be comparing average to average and not price to average. As in the example below. Probably this is just a minor change in the coding of the tool. It could also be coded in such...
Truly hope author would do something to optimize it
  • #2,295
  • Mar 6, 2019 10:53pm Mar 6, 2019 10:53pm
The code was given to one of the guys here and he was having the option put in to continue the line through price until it hit's the ema again. As for protruding through in a different colour, he may consider getting that done as well I guess. He said he would post it here once done.
  • #2,296
  • Mar 6, 2019 11:24pm Mar 6, 2019 11:24pm
Quoting MrMagnet
The code was given to one of the guys here and he was having the option put in to continue the line through price until it hit's the ema again. As for protruding through in a different colour, he may consider getting that done as well I guess. He said he would post it here once done.
That would be nice.

And on that note we see the 1 hour average is trying for the HH but the price is not very impressive.
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  • #2,297
  • Mar 6, 2019 11:41pm Mar 6, 2019 11:41pm
Another 1H ABCD
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  • #2,298
  • Mar 7, 2019 12:33am Mar 7, 2019 12:33am
Thank you for the daily introduction, very valuable.
So we look for Buying.
With the neg.div. within the RSI's in the hourly and M15 just closing below the EMA (neg.div. in RSI's too) it's good to wait, isn't it.
Wait until what?
Trading S/R with PA only. No indicators anymore!
  • #2,299
  • Mar 7, 2019 12:59am Mar 7, 2019 12:59am
5m bear support put in
  • #2,300
  • Mar 7, 2019 1:28am Mar 7, 2019 1:28am
Quoting MrMagnet
5m bear support put in
Yes but the moves are so tiny. We need a big breakout
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