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Trading the Cable swings via averages

  • #2,501
  • Mar 21, 2019 4:50am Mar 21, 2019 4:50am
Quoting Nala66
Interesting charts, did you guys not see this ABCD {gold} on the hour. It hasn't made the complete target yet but well over my 40 pips traded at the 5 m level {image}
Yes I have that on my chart all day long already
I also have this H4 chart:
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Trading S/R with PA only. No indicators anymore!
  • #2,502
  • Mar 21, 2019 5:10am Mar 21, 2019 5:10am
just to confirm with everyone, is this bullish divergence now appearing on the 1H

Cheers...Des
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  • #2,503
  • Mar 21, 2019 5:32am Mar 21, 2019 5:32am
Quoting Nala66
Interesting charts, did you guys not see this ABCD {gold} on the hour. It hasn't made the complete target yet but well over my 40 pips traded at the 5 m level {image}
Target reached by now.
I like.

At Des: I think that was proper, yes, should bring price back to EMA, but the bearish continuation div which meanwhile hit its target is possibly more important and overruled the divergence you mentioned.
What is your take on that, Alan?
Trading S/R with PA only. No indicators anymore!
  • #2,504
  • Mar 21, 2019 5:33am Mar 21, 2019 5:33am
Quoting Nala66
{quote} Thanks very much. I believe there is a difference between a system and being systematic. The former implies a hard and fast approach that could be coded to form a robot. The latter looks at all the variables that are constantly changing and thereby ridiculously difficult to code across all the time frames to boot. By initially defining each element with words on the chart one learns to identify the possible ZOO points where trades can be taken with a tentative approach allowing for the fact we could be wrong. This is why the trade has staggered...

Yep for a global approach, brain is the best algo I found
I use a max 12p SL with your method so that's quite the same. Thanks for the clear explanation.

Congrats to everyone enjoy this morning ride, pretty easy from H4 ZOO perspective.
Alan, how did you manage this one, how to add 2nd and 3rd entry when it happen so fast ? M1 ?
And then take out all profit on +40p (distance from the first entry) ? I only get one entry and trailed at +50p
  • #2,505
  • Mar 21, 2019 6:01am Mar 21, 2019 6:01am
Quoting Jazz1964
{quote} Target reached by now. I like. At Des: I think that was proper, yes, should bring price back to EMA, but the bearish continuation div which meanwhile hit its target is possibly more important and overruled the divergence you mentioned. What is your take on that, Alan?
Target broken, now it should be kept going down until 1.31011 (H1 swing low)
  • #2,506
  • Mar 21, 2019 6:23am Mar 21, 2019 6:23am
I got an AB=CD targeting 1.3103
Trading S/R with PA only. No indicators anymore!
  • #2,507
  • Mar 21, 2019 6:36am Mar 21, 2019 6:36am
Quoting Nala66
{quote} Where was this failed HD David
It was within bar 108 Alan. Multiple entries probably better this time as pullback was around 5 pips, but overall HD's seem to give really good value with all-in entries because of the strong reactions you get, as you've frequently mentioned.

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  • #2,508
  • Mar 21, 2019 7:48am Mar 21, 2019 7:48am
Quoting davidmaree
{quote} It was within bar 108 Alan. Multiple entries probably better this time as pullback was around 5 pips, but overall HD's seem to give really good value with all-in entries because of the strong reactions you get, as you've frequently mentioned. {image}
Found it, that was bar 118. Your stop must have been a tad too tight.
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  • #2,509
  • Mar 21, 2019 7:51am Mar 21, 2019 7:51am
Quoting Nala66
{quote} Found it, that was bar 118. Your stop must have been a tad too tight. {image}
Hi Alan,
How can you confirm it was a HD while you should have observed it live, no?
  • #2,510
  • Mar 21, 2019 7:58am Mar 21, 2019 7:58am
Quoting Jazz1964
I got an AB=CD targeting 1.3103
Just touched your 50% level Jazz
  • #2,511
  • Mar 21, 2019 8:00am Mar 21, 2019 8:00am
Quoting quangvision
{quote} Hi Alan, How can you confirm it was a HD while you should have observed it live, no?
That is a special RSI you see on the chart. The pink lines show the high and low history of the RSI. So where that vertical dotted line is I can see the RSI did not make the HH but the price did.
  • #2,512
  • Mar 21, 2019 8:04am Mar 21, 2019 8:04am
Bears may be looking for support now on the 5 min
  • #2,513
  • Mar 21, 2019 8:05am Mar 21, 2019 8:05am
They got it but can they hold it?
  • #2,514
  • Mar 21, 2019 8:10am Mar 21, 2019 8:10am
Quoting Nala66
{quote} That is a special RSI you see on the chart. The pink lines show the high and low history of the RSI. So where that vertical dotted line is I can see the RSI did not make the HH but the price did.
I wonder if you can share it
  • #2,515
  • Mar 21, 2019 8:18am Mar 21, 2019 8:18am
Quoting quangvision
{quote} I wonder if you can share it
I have just asked permission from the coder. So wait and see.
  • #2,516
  • Mar 21, 2019 9:25am Mar 21, 2019 9:25am
I just got +35 pips. So good so far this week
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  • #2,517
  • Mar 21, 2019 3:40pm Mar 21, 2019 3:40pm
Quoting Nala66
{quote} That is a special RSI you see on the chart. The pink lines show the high and low history of the RSI. So where that vertical dotted line is I can see the RSI did not make the HH but the price did.
Alan, since this indicator only records the high/low of the RSI I don't think it will point out some HD's. In the scenario below A was the pivot whereas B was HD but because price traveled to point C the HD is not recorded.
Attached Image (click to enlarge)
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  • #2,518
  • Mar 21, 2019 4:06pm Mar 21, 2019 4:06pm
Déjà vu on Daily. Regular div runs into continuation div for new levels of interest

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  • #2,519
  • Mar 21, 2019 4:22pm Mar 21, 2019 4:22pm
Most recent 5m with some decent targets. Like how the continuation div targets line up both ways with the swing HH/LL.

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  • #2,520
  • Mar 21, 2019 5:37pm Mar 21, 2019 5:37pm
Quoting davidmaree
{quote} Alan, since this indicator only records the high/low of the RSI I don't think it will point out some HD's. In the scenario below A was the pivot whereas B was HD but because price traveled to point C the HD is not recorded. {image}
I don't quite understand what you are saying here David.

The RSI (pink) lines are showing the history of the regular 14 period RSI so as your B passes A on the price I have a record of whether it did the same on the RSI. If the RSI failed then it was a HD to place a tentative trade on.

I have been given permission to share the tool so have a look at it.

This is a completely separate RSI, Do not overlay on top of existing ones. I usually squash it down when not in use.
Attached File(s)
File Type: ex4 RSI_Hidden.ex4   11 KB | 904 downloads
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