Trading the Cable swings via averages

Quoting Nala66

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{quote} 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. {file}

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Quoting davidmaree

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{quote} Thank you for this Alan. Applied it and specifically looked at yesterday's example that you gave. As you correctly pointed out the indicator did pick up bar A as being HD because both RSI max and RSI were below the pivot RSI with price having exceeded the pivot price. However, if you consider bar B the indicator shows the RSI below the pivot RSI and RSI max above the pivot RSI so in this case it would be a "maybe"? I did observe this bar forming yesterday and it was HD in real time but one can possibly consider the close of that bar as reference...

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Quoting Nala66

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{quote} I must be thicker than I "Thought" I was (In this sense not a swear word) We are looking at X as the pivot in question. A passed X on the price but not on the RSI = HD. I cannot see what B is all about, the RSI went with it to pass X and it closed at a lower low on both the price and the RSI? Now if you look at D it was a double top but where was the RSI at that particular time, hard to tell. To me it looks like the RSI was a Lower {image}

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Quoting Nala66

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{quote} 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. {file}

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Quoting MrMagnet

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Alan, would you still call this a bull support with both rsi and price closing with a lower low than previous but it is a bull candle body? Thanks in advance. {image}

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Quoting Nala66

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{quote} ... I have been given permission to share the tool so have a look at it. ...{file}

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Quoting Jazz1964

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In line with the H1 chart from two posts above, I took 40 pips with this trade: {image}

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Quoting quangvision

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{quote} Congrats, I saw but didn't take it because don't want to risk while price still above MA

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Quoting Jazz1964

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In line with the H1 chart from two posts above, I took 40 pips with this trade: {image}

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Quoting Nala66

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{quote} Interesting how we take the trades a tad differently not that you were incorrect. {image}

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Quoting Nala66

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{quote} Interesting how we take the trades a tad differently not that you were incorrect. {image}

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Quoting Jazz1964

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{quote} How did you trade it then? I see the div's you draw did their job / bring back to EMA. Did you trade in line with something as I did, meaning focus on a short setup? Your vertical '108' line is now one hour earlier than mine. I shifted mine because I want it one hour before London open. What about that?

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Quoting quangvision

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{quote} Hi Alan, Can you please enlighten me on what inference you took on H1 to have those entries? At the time, I saw regular bearish div on H1 but price still above MA so I hesitated to take the short trade. Do you think "price above MA on H1" could be something we can ignore when consider taking short trade on lower timeframe?

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Quoting quangvision

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I got my 40 for today. ZOO on H1 at 50% level with bullish RSI div. {image}

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