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Trading the Cable swings via averages

  • #2,901
  • Apr 25, 2019 6:14am Apr 25, 2019 6:14am
Quoting mikeeating
almost at a H4 target
I assume you mean the 2853 average swing low
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  • #2,902
  • Apr 25, 2019 8:48am Apr 25, 2019 8:48am
Easy +35 pips on the pocket.
I was expecting this trade on my previous post.
So many pips today so far. Cheers :d
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  • #2,903
  • Apr 26, 2019 12:09am Apr 26, 2019 12:09am
On M15
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  • #2,904
  • Apr 26, 2019 12:52am Apr 26, 2019 12:52am
Quoting Nala66
{quote} I assume you mean the 2853 average swing low {image}
yes just missed by 7 pips!
life is a reflection of what we allow ourselves to see
  • #2,905
  • Apr 26, 2019 2:08am Apr 26, 2019 2:08am
Quoting mikeeating
{quote} yes just missed by 7 pips!
Yep ran into the bullish divergence I was waiting for on the 1H. Now looking to see if the bulls can find support.
  • #2,906
  • Apr 26, 2019 2:22am Apr 26, 2019 2:22am
Quoting priyank20
On M15 {image}
Not drawn correctly
  • #2,907
  • Apr 26, 2019 2:26am Apr 26, 2019 2:26am
Looks like the support at 2898 on the hour is holding.
  • #2,908
  • Apr 26, 2019 4:38am Apr 26, 2019 4:38am
Market is ranging currently. The best way is to skip this London session but come back on New York session.
  • #2,909
  • Apr 26, 2019 9:44am Apr 26, 2019 9:44am
Quoting Nala66
{quote} Not drawn correctly
Hey Alen,

Is this correct, on 1 hour
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  • #2,910
  • Apr 26, 2019 9:49am Apr 26, 2019 9:49am
Same on M15
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  • #2,911
  • Apr 26, 2019 11:44am Apr 26, 2019 11:44am
Quoting priyank20
{quote} Hey Alen, Is this correct, on 1 hour {image}
When drawing these you must look at the pivot being attacked. We cannot just select the ones that look nice
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  • #2,912
  • Apr 26, 2019 11:47am Apr 26, 2019 11:47am
Quoting Nala66
{quote} When drawing these you must look at the pivot being attacked. We cannot just select the ones that look nice {image}
Thanks a lot Alen
  • #2,913
  • Apr 26, 2019 11:48am Apr 26, 2019 11:48am
In the case above it cannot be true because the yellow line I drew does not have a line of sight on the RSI.

Now if you look at my plotting on my 1 hour you see we have two signal (blue completed and yellow in progress)
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  • #2,914
  • Apr 26, 2019 11:56am Apr 26, 2019 11:56am
Drawn again on 1 hour
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  • #2,915
  • Edited 12:19pm Apr 26, 2019 12:04pm | Edited 12:19pm
Quoting Nala66
In the case above it cannot be true because the yellow line I drew does not have a line of sight on the RSI. Now if you look at my plotting on my 1 hour you see we have two signal (blue completed and yellow in progress) {image}
I appreciate your patience,Alen. What is line of sight on RSI?
  • #2,916
  • Apr 27, 2019 2:45am Apr 27, 2019 2:45am
Quoting priyank20
{quote} I appreciate your patience,Alen. What is line of sight on RSI?
The line drawn must not cut through any point of the RSI it must have a clear run from point to point.

Line of sight simply means we cannot see round corners.

Now it is all very well creating these targets but it is very difficult to trade them because we just don't no which way it is going to hit them either above or below. So I just regard them as the ZOO points where I look to trade them back again.

Just as a swing high or low of the average is a ZOO point where price may falter and turn.

In other words we are looking for the failures at or close to the levels we have determined to be zones of opportunity (ZOO)

Here below we can see these zones in operation as we watch the 1H and 5M in conjunction.
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  • #2,917
  • Apr 27, 2019 3:30am Apr 27, 2019 3:30am
Quoting Nala66
{quote} The line drawn must not cut through any point of the RSI it must have a clear run from point to point. Line of sight simply means we cannot see round corners. Now it is all very well creating these targets but it is very difficult to trade them because we just don't no which way it is going to hit them either above or below. So I just regard them as the ZOO points where I look to trade them back again. Just as a swing high or low of the average is a ZOO point where price may falter and turn. In other words we are looking for the failures...
Wow!!! Doubts are getting cleared. Thanks a ton Alen.

I have 2 more questions

  1. Do we hedge trades also at 5 min Div forming at ZOO points?
  2. I am having trouble deciding if price will hold or cross average after Div. If you can please explain it a bit more. For e.g. on yesterday's 5 min chart, when 1st price failed to cross average after 1 hr 50% and made HH, when and where we should have exited our hedge and when it again made HH in div near target, how we should have hold our position?

  • #2,918
  • Apr 27, 2019 6:19am Apr 27, 2019 6:19am
Quoting priyank20
{quote} Wow!!! Doubts are getting cleared. Thanks a ton Alen. I have 2 more questions Do we hedge trades also at 5 min Div forming at ZOO points? I am having trouble deciding if price will hold or cross average after Div. If you can please explain it a bit more. For e.g. on yesterday's 5 min chart, when 1st price failed to cross average after 1 hr 50% and made HH, when and where we should have exited our hedge and when it again made HH in div near target, how we should have hold our position?
Let's be clear here, we do not have to hedge at all, it is simply a tool we can use to gather our daily pips in a safer manner than exiting and re-entering.

We may not know if the div is actually going to cross the EMA but by placing that div as a hedge we have protected the entire trade from loss.

If price fails to cross the EMA we assume a HH is going to be made by price so it would stop out the hedge and our prime position would continue to make money until we hedge again (maybe). Hedging does no harm to the trade itself it serves as an insurance policy.

If the hedge does cross the EMA then it may go on to stop out the primary trade. All this time we are simply trying to accrue our daily pips so we can pack up for the day.

Once we have doubled the initial account in this fashion we have some pocket money to risk so the game changes somewhat and we may enter trades for the full lot size instead of a 1,2 and 3 entry.

To put this in money terms a 1,2,3 for me is $3, $6 and $9 per pip. This adds up to 1.8 lots which for me returns $25 per pip. 40 x 25 = $1000.

Once I have this first $1000 I can risk a tad more so may go with a 1 and 2 entry of 0.9 and 0.9 which is still 1.8 or $25 per pip.

However the risk is now 0.9 x 10 on the initial entry or $12.50 per pip being $125. This is a $125 risk of the $1000 profit which means I can attempt the win 8 times before touching my own money.

Now my situation may not be the same as others because the variables are the leverage and the base currency.
  • #2,919
  • Apr 27, 2019 7:11am Apr 27, 2019 7:11am
Thank you so much Alen.
  • #2,920
  • Edited 5:23am Apr 28, 2019 2:09am | Edited 5:23am
Hi.Immediately am asking forgiveness for the text translated with the help interpreter Google.I want to thank Alan for the trading system. Reading its the third day . That's very interesting.Here are two screenshots of the screen .Thank you This is a very interesting system .Thanks again for the science and I will read You further .Alan.
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Hi.read Your post 1370 ,69 page. Your last post is 2918 .I remember the slow rise of the price in the lower shadow on the arrow and the sharp movements in the second shadow on the arrow .it's dangerous.( on the chart there is a color MT5 indicator in the horizontal position indicates the flat.the average between the two extremes and the approximate middle .) I thought the price is the fast rsi versus the slow rsi in time and no direction.I began to think otherwise.Just the third day studying Your experience .
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it is useless to drag the price indicator !thanks Alan ,!!!
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