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Trading the Cable swings via averages

  • #2,781
  • Apr 9, 2019 3:38am Apr 9, 2019 3:38am
Thanks saw the post and will re-read the whole thread (again) next week at Catholic Easter. Now posting a 1h chart with a smaller triangle (not so sure if it is correct
Attached Image (click to enlarge)
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  • #2,782
  • Apr 9, 2019 4:15am Apr 9, 2019 4:15am
I hope this helps.
A is the pivot that the price was attacking before we could get a C point.
So how do we arrive at C? We arrive at C because price has pushed the RSI above the level it was at when pivot A formed.
We then measure the distance between A and B which is my grey box and place it on C. The rest you know. It either goes up or down to test 50% of the predicted move or it goes up or down to the measure target.
Attached Image (click to enlarge)
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  • #2,783
  • Apr 9, 2019 4:20am Apr 9, 2019 4:20am
Ok you seem to have the AB = CD's down ok.

Now why on the 5 min has price shot up and then shot down again?
  • #2,784
  • Apr 9, 2019 4:32am Apr 9, 2019 4:32am
Quoting Nala66
Ok you seem to have the AB = CD's down ok. Now why on the 5 min has price shot up and then shot down again?
I think you are going to have to tell us Alan.
  • #2,785
  • Apr 9, 2019 4:34am Apr 9, 2019 4:34am
bull rsi/rsi on h1 09.00 candle, reg bear div h1 10.00 candle, both confirmed on the m5, test 50%level predicted move
  • #2,786
  • Apr 9, 2019 4:40am Apr 9, 2019 4:40am
Quoting mayflower
{quote} I think you are going to have to tell us Alan.
I will when a couple have had a go.

Nothing that I haven't already told about.
  • #2,787
  • Apr 9, 2019 4:42am Apr 9, 2019 4:42am
Hi Alan,
is it anything to do with attempting to push up on the H4 and hitting previous HH on the MA29, just a guess
Cheers...Des
  • #2,788
  • Apr 9, 2019 4:53am Apr 9, 2019 4:53am
Quoting Nala66
Ok you seem to have the AB = CD's down ok. Now why on the 5 min has price shot up and then shot down again?
Hi Alan,
Both shot up then down because of bullish & bearish RSI on H1.
Is this correct?
  • #2,789
  • Apr 9, 2019 5:03am Apr 9, 2019 5:03am
Quoting quangvision
{quote} Hi Alan, Both shot up then down because of bullish & bearish RSI on H1. Is this correct?
The question was on the 5 min chart, nothing to do with the 1 hour which hasn't had time to do the moves. Well maybe it has but I wasn't referring to that. That was a good inference though.
  • #2,790
  • Apr 9, 2019 5:16am Apr 9, 2019 5:16am
Alan,

Ill have another go as my other attempt was rubbish, was it HD's (apologies if i have drawn these incorrectly)

Cheers...Des
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM5.png Size: 56 KB
  • #2,791
  • Apr 9, 2019 5:17am Apr 9, 2019 5:17am
Hello. From here in the UK it looks like the price was affected by Brexit news: Buying the headlines, then selling the details. So the news moved the price but then it returned back to it's expected path (pretty much).
  • #2,792
  • Apr 9, 2019 5:20am Apr 9, 2019 5:20am
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD-5-minutes.png Size: 95 KB
  • #2,793
  • Apr 9, 2019 5:42am Apr 9, 2019 5:42am
OK … When the session begins I tend to watch the 5 min intently for the signals produced there.

For this I need to show the two RSI indicators.

The first was a bull RSI div (D1) but the run up ran into a bear div so we either close or hedge depending on your circumstance.

The run down went to another RSI div (D2) so it was now set up to pass the latest swing high average which it did convincingly with an impulse bar taking it to and above the target level.

This then pulled back because it was a reg bear div. but the bulls found support (dotted green).

From the support the price ran up and into trouble with A HD sending it back below the EMA where it then ran into another HD of a bullish nature..

Now the price action is contained between the two average swings.

The point is that every move was indicated by a signal on the 5 min chart.
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  • #2,794
  • Apr 9, 2019 5:54am Apr 9, 2019 5:54am
Quoting Nala66
OK … When the session begins I tend to watch the 5 min intently for the signals produced there. For this I need to show the two RSI indicators. The first was a bull RSI div (D1) but the run up ran into a bear div so we either close or hedge depending on your circumstance. The run down went to another RSI div (D2) so it was now set up to pass the latest swing high average which it did convincingly with an impulse bar taking it to and above the target level. This then pulled back because it was a reg bear div. but the bulls found support (dotted green)....
I have nothing to question these moves. Signals-driven moves.
As a starter, I always look for inference on higher TFs like H1 first before drilling down to lower tfs for entries.
Trading absolutely based on M5 still too complicated for me to react ontime.
  • #2,795
  • Apr 9, 2019 5:59am Apr 9, 2019 5:59am
Quoting Nala66
...The point is that every move was indicated by a signal on the 5 min chart. {image}


I saw them all and acted well today. Just that I did not take another trade on the HD since I was done.
Trading S/R with PA only. No indicators anymore!
  • #2,796
  • Apr 9, 2019 6:02am Apr 9, 2019 6:02am
Quoting Nala66
{quote} The question was on the 5 min chart, nothing to do with the 1 hour which hasn't had time to do the moves. Well maybe it has but I wasn't referring to that. That was a good inference though.
Thx Alan, great explanation as Always, but weren't those moves to be seen on the h1, every move had its divergence. Only it was everytime in the candle that was built up or are such divergence signals not to be trusted
  • #2,797
  • Apr 9, 2019 6:12am Apr 9, 2019 6:12am
Quoting Nala66
{quote} You have nothing to fear but fear itself. Numbers are only simple mathematical processes i.e 40 pips x $25 = $1000. However I will get to the money management in due course.
Interesting thread.....will be reading more......
trading is simple but is simple is not easy.
  • #2,798
  • Apr 9, 2019 7:01am Apr 9, 2019 7:01am
Quoting Jazz1964
{quote} I saw them all and acted well today. Just that I did not take another trade on the HD since I was done.
So was I, that was why I had time to comment.
  • #2,799
  • Apr 9, 2019 7:03am Apr 9, 2019 7:03am
Quoting huskyboy
{quote} Thx Alan, great explanation as Always, but weren't those moves to be seen on the h1, every move had its divergence. Only it was everytime in the candle that was built up or are such divergence signals not to be trusted
In this case the two primary moves were to be seen, but I saw several more on the 5 min.
  • #2,800
  • Apr 9, 2019 7:03am Apr 9, 2019 7:03am
OK lets see what tomorrow brings.
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