Trading the Cable swings via averages | Page 142 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Identifying Market Swings - Medium and Long Term Trading 619 replies

Trading With Moving Averages 72 replies

Moving Averages Zone Trading 10 replies

HELP! GMMA (Guppy's Multi-Moving Averages) Trading Mehod 3 replies

Via indicator: trading xxxyyy via zzz 0 replies

Attachments: Trading the Cable swings via averages
Exit Attachments

Trading the Cable swings via averages

  • #2,821
  • Apr 10, 2019 3:48am Apr 10, 2019 3:48am
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 33 KB
  • #2,822
  • Apr 10, 2019 3:55am Apr 10, 2019 3:55am
Quoting ZenNy
hi there, is there a post in this interesting thread which summirise clearly specific entries and exits, something like this: Long entries: (on the 5m TF)prices below the 26 ema, RSI (5 and 14) oversold, both showing bullish divergence, RSI (5) > RSI (14). Long exits: (on the 5m TF)prices crosses above 26 ema, prices hits previous high, both RSI showing bearish divergence. Filter: Prices on the hourly time frame above the 26 ema. I thank you in advance.
Not really if only life was that simple hey.

I have shown the key points to watch for and the underpinning reasons for everything I have stated.
  • #2,823
  • Apr 10, 2019 3:58am Apr 10, 2019 3:58am
At present the targets are so small I can't get that 2nd trade on at all.
  • #2,824
  • Apr 10, 2019 3:58am Apr 10, 2019 3:58am
Quoting Nala66
{quote} Not really if only life was that simple hey. I have shown the key points to watch for and the underpinning reasons for everything I have stated.
Thanks anyway.....I will read more...anyway went short 3080, targeting 3055...
trading is simple but is simple is not easy.
  • #2,825
  • Apr 10, 2019 4:10am Apr 10, 2019 4:10am
Quoting Nala66
{image}
I am very glad you shared that hidden divergence indicator, it does a great job.
Trading S/R with PA only. No indicators anymore!
  • #2,826
  • Apr 10, 2019 5:32am Apr 10, 2019 5:32am
Quoting Nala66
When I see a div at a ZOO point, I see potential. Going Long I can measure the distance from the div point to the EMA and know I have to get at least my first two trades on ASAP before price get's to that EMA. T3 would be a pending order at least 40 pips from the target and above the EMA. So if I can see we are say 15 pips from the EMA at the div I can hit the script to enter T! and place pending orders at T! + 5 for T2 and T1 +20 for T3 Then I need to be able to move all stops to T1 + 1 Then T2 + 1 When T3 is triggered all stops to BE+1 Finally...
What about a hedge all open trades feature by way of a button on the chart. Kind of like a trade manager ea maybe.
  • #2,827
  • Apr 10, 2019 7:46am Apr 10, 2019 7:46am
Quoting MrMagnet
{quote} What about a hedge all open trades feature by way of a button on the chart. Kind of like a trade manager ea maybe.
The hedge is a funny one to apply.

If I am 1st and 2nd entry short. My hedge is often 3rd entry long.

What this means is the first two trades are locked in plus there is a new 1st entry long, if this starts to pan out I close the shorts for not much profit.

In lot size terms the two shorts equal 3 + 6 = 9 short

So the hedge is 9 + 3 = 12 long.

I still need to get another 6 lots on which I may do at the next hedge.

It gets a tad complicated and I think it is better done manually.

Good thought though.
  • #2,828
  • Apr 10, 2019 7:53am Apr 10, 2019 7:53am
Quoting ZenNy
{quote} Thanks anyway.....I will read more...anyway went short 3080, targeting 3055...
Better if you state why you went short so we can see the reasoning behind it.

Something like this
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 96 KB
  • #2,829
  • Apr 10, 2019 8:22am Apr 10, 2019 8:22am
2 Shorts on pound, after the news. Short late at 1.3088 (had that level into my mind even if I wanted to short earlier), because of the divergence.
At that time price was close to EMA (I know mistake, but price could not pass 1.31lvl and had HD in 1hour chart)
2nd trade was risky, because to close to 1st one (I think 7-8pips), was based on EMA bull rejection with fixed target of 15pips which was also the EMA swing.

PS Alan that triangle in 5min is it correct taken?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd-m5-international-capital-markets-2.png Size: 188 KB
Click to Enlarge Name: gbpusd-m5-international-capital-markets-3.png Size: 189 KB
  • #2,830
  • Apr 10, 2019 9:33am Apr 10, 2019 9:33am
Quoting Nala66
{quote} Better if you state why you went short so we can see the reasoning behind it. Something like this {image}
Hi Alan,
How can you always take very precise entry points?
While I did see those signals and took the trade and lost.
Can you give some ideas on these?
Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM5.png Size: 45 KB
  • #2,831
  • Edited 10:13am Apr 10, 2019 9:46am | Edited 10:13am
1 trade that didn't work. Long at 1.3063. Market tried to do go to 50lvl but failed, divergence, D/2. Target normally is the EMA which price did, but got greedy. Moved price to BE, but don't expect much.

Edit.
The trade closed at 25pips!, posting updated picture
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd-m5-international-capital-markets.png Size: 192 KB
Click to Enlarge Name: gbpusd-m5-international-capital-markets-5.png Size: 189 KB
Click to Enlarge Name: gbpusd-m5-international-capital-markets-6.png Size: 195 KB
  • #2,832
  • Apr 10, 2019 10:11am Apr 10, 2019 10:11am
Quoting quangvision
{quote} Hi Alan, How can you always take very precise entry points? While I did see those signals and took the trade and lost. Can you give some ideas on these? Thanks {image}
Not all divergences work. If so we would have found the holy grail , you have to pick the divergence where you expect that price has exhausted.
I can only speak for myself now (I am not an expert, thus my analysis could be wrong): Price did a triple top that time, but based to the system was also higher lows and also see few candles before, bull support 3 times. The short this period is risky. I also took a short much earlier, but had more than 1 reason to take it not only divergence (see post in 141page).
My ideal price for taking short today was near 1.31 level (I wanted the market to do 1.31 and later pick the trade), which market did after the news.
Moreover even if Alan doesn't accept news, those candles were about 1 hour (I think less) before Euro interest rate decision.
But even if you have taken the 1st entry, your loss you have been around 5? pips. There is no system that is 100% correct. If you have 5 pips loss but lets say 10-20pips gains, at the end you have a plus into your account.
  • #2,833
  • Edited 9:37pm Apr 10, 2019 9:26pm | Edited 9:37pm
Quoting quangvision
{quote} Hi Alan, How can you always take very precise entry points? While I did see those signals and took the trade and lost. Can you give some ideas on these? Thanks {image}
I would ask why are you looking to short the market in the first place since the 1H has been above the EMA all day. You should be looking for the pull backs to go long.

Once the hour has reached a ZOO point then look to short.

Now if you are intent on taking the shorts on the 5m signals you have to bear in mind always these are just scalps or hedges because you are trading above the EMA. This means you have to move those stops to BE and be prepared to be stopped out. This happens a lot with scalps because you are just guessing that it is a turnaround point, sometimes you can be right though.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 92 KB
  • #2,834
  • Apr 10, 2019 9:31pm Apr 10, 2019 9:31pm
Quoting Nala66
{quote} I would ask why are you looking to short the market in the first place since the 1H has been above the EMA all day. You should be looking for the pull backs to go long. Once the hour has reached a ZOO point then look to short. {image}
Hi Alan,
Can you please describe more details on these ZOO points?
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 95 KB
  • #2,835
  • Apr 10, 2019 9:44pm Apr 10, 2019 9:44pm
I haven't put them all on this 1H chart but you should be able to see plenty of ZOO points here to be traded at the 5 min level.

If you just trade the 5m level alone without any reference to the 1H chart you may only be looking at a couple of pips.

Taking the inference from the 1H is going to produce many more pips per trade. It has a high probability of making the 40 pips. Some of your 1H inferences may fail also. We are dealing with probabilities here not certainties, I get stopped out heaps of times for BE's or small losses. That is par for the course when trading the trick is to push hard when winning and compound it for a huge risk/reward.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 65 KB
  • #2,836
  • Apr 10, 2019 9:49pm Apr 10, 2019 9:49pm
Quoting Nala66
I haven't put them all on this 1H chart but you should be able to see plenty of ZOO points here to be traded at the 5 min level. If you just trade the 5m level alone without any reference to the 1H chart you may only be looking at a couple of pips. Taking the inference from the 1H is going to produce many more pips per trade. It has a high probability of making the 40 pips. {image}
I also had these horizontal lines on my chart but I didn't confirm those ZOO points as on your chart.
Because some of ZOO points not even touch these horizontal lines.
Can you advice whether it is important to look for ZOO when price touches or just to be near the horizontal lines?
That is why I am confusing for now.
  • #2,837
  • Apr 10, 2019 10:17pm Apr 10, 2019 10:17pm
On 5 Mins
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 27 KB
  • #2,838
  • Apr 10, 2019 11:51pm Apr 10, 2019 11:51pm
if i am drawing AB=CD correctly, yesterday it just touched 5 min target and came down
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 49 KB
  • #2,839
  • Apr 11, 2019 2:09am Apr 11, 2019 2:09am
1 Hour ABCD
Attached Image (click to enlarge)
Click to Enlarge Name: April chart.jpg Size: 171 KB
  • #2,840
  • Apr 11, 2019 2:37am Apr 11, 2019 2:37am
Sorry guys, I was a little bit too quick. The pivot under attack was the prior one which finished right after London open.
Attached Image (click to enlarge)
Click to Enlarge Name: April chart12.jpg Size: 168 KB
6 traders viewing now