Hi everybody, first I'd like to apologize if this question has been answered already, than you could just write post number and I'll get there an read It thru. I tried to search for the answer thru this thread but I couldn't find it.
When this thread started it was about divergences on rsi, bear/bull and regular. It was about finding support/resistance and look for two bar test. I understand that those are the rules for entry, but to get in the right direction is a little bit harder. I saw you guys draw ABCD patterns and my question is how to draw them right? Where to start? What time frame do you use to draw them? I saw you use the RSI line too.
Is there a willing soul who would take some time to really explain this, maybe with pictures as well.
Once again I apologize if this already has been answered and big thanks to Alan for a wonderful work with this thread!
Hi everybody, first I'd like to apologize if this question has been answered already, than you could just write post number and I'll get there an read It thru. I tried to search for the answer thru this thread but I couldn't find it. When this thread started it was about divergences on rsi, bear/bull and regular. It was about finding support/resistance and look for two bar test. I understand that those are the rules for entry, but to get in the right direction is a little bit harder. I saw you guys draw ABCD patterns and my question is how to draw...
Ignored
This post (https://www.forexfactory.com/showthr...8#post11969838) explains well but many examples were given by Alan subsequent to this. Once you grasp the structure you can evaluate today's 1H chart and see why Alan had 2960 as a potential target.
Hi everybody, first I'd like to apologize if this question has been answered already, than you could just write post number and I'll get there an read It thru. I tried to search for the answer thru this thread but I couldn't find it. When this thread started it was about divergences on rsi, bear/bull and regular. It was about finding support/resistance and look for two bar test. I understand that those are the rules for entry, but to get in the right direction is a little bit harder. I saw you guys draw ABCD patterns and my question is how to draw...
Ignored
Interesting in all this text how you did not mention at all what this is all about. Which is the average swings. The entire other stuff is just the mechanics of price getting to these average swing levels.
Then if we look at the 4main charts together we can see clearly what is happening.
The 4 h is trying to stop the average.
The 1 h Has found bull support
The 5 m is trading above the average
The 1 m is giving us plenty of entry pull backs.
so the 5 min 11.20 bar rsi/rsi div was the valid entry long after H1 bulls support. And for now it looks there's a rsi/rsi bearish div building up on the h1
so the 5 min 11.20 bar rsi/rsi div was the valid entry long after H1 bulls support. And for now it looks there's a rsi/rsi bearish div building up on the h1
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Yes but if looking for an RSI div on the 1 hour you must seek an inference for this from the next higher time frame i.e. the 4 hour. and we are not seeing that as such.
It is a matter of scale. If you suspect a signal on the 1 hour then look to the 5 min for confirmation
still more than 30 minutes left but for now the hour chart looks like building up an bear rsi/rsi, and the 4 hour chart might be preparing for an hidden reg bear div, seems to have trouble making an HH and is fighting its 50 level.
Note how initially I took two trades short today until I realised I am going the wrong way and from then on it was an easy do to reach my fiscal target.
4H has reached the EMA so far stopping it at exactly a double bottom.
1H has reached the 50% level of the ABCD
5m is still trading above the average
1M is still giving good entries long on the pull backs.
If you haven't already made your money man target then from here you need to be careful of a major short robbing you of some profit.
This is why it is best to make a target and quit rather than trying for extra stuff. Just turn off the PC and do something else.
I know your talking about strategies here but I have just made a post of a Forex Trading Keyboard that I am developing if you have a minute please have a look and give me your feedback.
Hi All I know your talking about strategies here but I have just made a post of a Forex Trading Keyboard that I am developing if you have a minute please have a look and give me your feedback. https://www.forexfactory.com/showthread.php?t=903751 Sorry for the intrusion Snipe {image}
Ignored
Here is a specialised tool to track the average. As you can see it turns a nasty color when the average is about to turn.
Trading the Cable swings via averages
