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Trading the Cable swings via averages

  • #2,401
  • Mar 17, 2019 4:51am Mar 17, 2019 4:51am
So to clarify, I separate between swing trades and scalps.
Swing trades follow the H1 sentiment.
And scalps are short term trades where the goal is to get the SL to BE and then either take a discretionary profit, or let it run, move the SL along with price, and eventually get stopped out. And sometimes, a scalp taken against the current H1 direction will turn into a swing trade as the H1 sentiment changes. These are the best and most profitable trades, since we can leverage more while scalping due to the tiny SL's.
  • #2,402
  • Mar 17, 2019 7:53am Mar 17, 2019 7:53am
Quoting fxmars
So to clarify, I separate between swing trades and scalps. Swing trades follow the H1 sentiment. And scalps are short term trades where the goal is to get the SL to BE and then either take a discretionary profit, or let it run, move the SL along with price, and eventually get stopped out. And sometimes, a scalp taken against the current H1 direction will turn into a swing trade as the H1 sentiment changes. These are the best and most profitable trades, since we can leverage more while scalping due to the tiny SL's.
It is easy to say that but reality is much complex. It requires a lot of practices and clear mind at all time.
You must use flexible trading tricks to deal with same information on charts daily. Otherwise trading job wouldn't be fun, right?
Gluck on next week trades!
  • #2,403
  • Mar 17, 2019 11:04am Mar 17, 2019 11:04am
I would say that in all cases if one is trading to a plan then there is nothing complicated about it at all.

Plan the trade and trade the plan, there are no thought processes involved, it is simply a matter of execution.

Why people want to include a thinking process is beyond my understanding, the only thing on a traders mind should be the execution of the plan.
  • #2,404
  • Mar 17, 2019 7:42pm Mar 17, 2019 7:42pm
The 4 hour chart is showing the Bulls are about to make the HH average(3225) some time today with the next bullish target sitting at 3404. However as yet there is no signal for the mechanics of doing that.
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  • #2,405
  • Mar 17, 2019 7:47pm Mar 17, 2019 7:47pm
There is nothing very remarkable about the daily either so dropping to the 1 hour we see a bullish holding pattern as the average approaches the 3295 and we still have an ABCD to drag that average over the line for a HH. However the bulls are failing to break that all important 3295 so it is still 50/50 for up or down at this time.
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  • #2,406
  • Mar 17, 2019 10:02pm Mar 17, 2019 10:02pm
Quoting Nala66
The 4 hour chart is showing the Bulls are about to make the HH average(3225) some time today with the next bullish target sitting at 3404. However as yet there is no signal for the mechanics of doing that. {image}
Hi Alan,
Your chart defined 3404 as next swing high, right?
But on my chart it showing 33788, do you know why?
Thanks
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  • #2,407
  • Mar 17, 2019 11:07pm Mar 17, 2019 11:07pm
Quoting quangvision
{quote} Hi Alan, Your chart defined 3404 as next swing high, right? But on my chart it showing 33788, do you know why? Thanks {image}
Yes you are correct, there are two swings there I just selected the higher and more major one.

So the whole thing on the 4 hour looks like this..
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  • #2,408
  • Mar 18, 2019 1:16am Mar 18, 2019 1:16am
So far so good... Looks like a retest of the 1 hour bull support
  • #2,409
  • Mar 18, 2019 3:03am Mar 18, 2019 3:03am
Quoting Nala66
So far so good... Looks like a retest of the 1 hour bull support
Is it good now to go long GBPUSD after test on average, Alan?
  • #2,410
  • Mar 18, 2019 3:04am Mar 18, 2019 3:04am
This bull setup.
  • #2,411
  • Mar 18, 2019 3:31am Mar 18, 2019 3:31am
Hi all,
Trying to buy GU as soon as H1 touching bull support on M1.
Let's see how it runs.
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  • #2,412
  • Mar 18, 2019 3:51am Mar 18, 2019 3:51am
Quoting quangvision
Hi all, Trying to buy GU as soon as H1 touching bull support on M1. Let's see how it runs. {image}
To me your buy looks like a very dangerous thing to do - could get lucky for sure, but still...

You've got Bear (not Bull) support on M1 and M5, and at the time of your entry the H1 candle was under the H1 Bull support. Just my 2c.
  • #2,413
  • Mar 18, 2019 4:02am Mar 18, 2019 4:02am
Quoting Zelias
{quote} To me your buy looks like a very dangerous thing to do - could get lucky for sure, but still... You've got Bear (not Bull) support on M1 and M5, and at the time of your entry the H1 candle was under the H1 Bull support. Just my 2c.
Just try my luck because price usually react to those levels, in this case price hit back average on M1 and I got my long trade to break-even. Now it is stopped me out.
  • #2,414
  • Mar 18, 2019 4:13am Mar 18, 2019 4:13am
Quoting quangvision
{quote} Just try my luck because price usually react to those levels, in this case price hit back average on M1 and I got my long trade to break-even. Now it is stopped me out.
I'm not the OP, but perhaps we should try and post setups that adhere to the rules explained by Alan in this thread? This way we'll gradually create the same "vocabulary" to trade this system and will develop trust that positions taken by fellow members of this thread are in line with what we all trade.

For example, if we were to trade the M1 and M5 in this case, we should've been looking at this:

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Just a suggestion.

PS: well done getting this to BE and it was a possible Hedge trade
  • #2,415
  • Mar 18, 2019 4:36am Mar 18, 2019 4:36am
Well I dunno that was about as straight forwards as it gets. I fail to see why you guys fail to see.
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  • #2,416
  • Mar 18, 2019 4:40am Mar 18, 2019 4:40am
Quoting Nala66
Well I dunno that was about as straight forwards as it gets. I fail to see why you guys fail to see. {image}
Very nice Alan. I couldn't see any inference on H1, can you explain more?
The short trade on your chart, was it a scalp or trade with one-in?
Thanks
  • #2,417
  • Mar 18, 2019 4:46am Mar 18, 2019 4:46am
Yeah I have to admit I was looking for longs as well, at the start I thought I saw the hourly support price and so I tried to catch the divergences on the short side to go long,

always looks so easy in hindsight!
life is a reflection of what we allow ourselves to see
  • #2,418
  • Mar 18, 2019 5:06am Mar 18, 2019 5:06am
H1 inference for the shorts was a HD (I've checked it in real time). If you'd missed the entry from the top, you could've added later (the M5 and M1 setup posted). The TPs were either 20 pips (the M5 EMA bump) or 25 pips (ABCD formation) for the add-on setup.
  • #2,419
  • Mar 18, 2019 5:10am Mar 18, 2019 5:10am
Quoting mikeeating
Yeah I have to admit I was looking for longs as well, at the start I thought I saw the hourly support price and so I tried to catch the divergences on the short side to go long, always looks so easy in hindsight!
Yes, that is why I am asking Alan to explain more on how he could get on to sell so early while at that time we should see price above average and no bearish div on H1 to indicate price gonna to fail making HH.
  • #2,420
  • Mar 18, 2019 5:11am Mar 18, 2019 5:11am
Quoting Zelias
H1 inference for the shorts was a HD (I've checked it in real time). If you'd missed the entry from the top, you could've added later (the M5 and M1 setup posted). The TPs were either 20 pips (the M5 EMA bump) or 25 pips (ABCD formation) for the add-on setup.
Yes, I agree with addon setups rather than selling on the top like Alan's posted charts. Thanks
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