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Trading the Cable swings via averages

  • #2,981
  • May 4, 2019 7:49am May 4, 2019 7:49am
Quoting HoangPhuong
{quote} Thanks Mr Nala I have question for Mr Nala. What is HD point? Are we compare RSI slow with line price or SMA?wright or wrong? Have we input entry 1:0.3lot input entry 2:0.6 entry3: 0.9 and wating..end 400 point(40 pip)?if we see div 5M time? So sorry because i dont understand all knowleg you teach in forum. I learn 1M to you. I hope you can teach for me Thanks sir!
Hello Mr. Hoang Phuong!
Are you a trader in Vietnam? If you understand this method, you can ask me for information to facilitate the exchange of this method, my ability to read and understand English is not good so I want to learn more knowledge from those who understand.
  • #2,982
  • May 4, 2019 7:50am May 4, 2019 7:50am
Quoting quangvision
{quote} Hiting target. Yeah yeah
Hello quangvision!
Are you a trader in Vietnam? If you understand this method, you can ask me for information to facilitate the exchange of this method, my ability to read and understand English is not good so I want to learn more knowledge from those who understand.
  • #2,983
  • May 5, 2019 11:10pm May 5, 2019 11:10pm
Quoting hugo0201
{quote} Hello Mr. Hoang Phuong! Are you a trader in Vietnam? If you understand this method, you can ask me for information to facilitate the exchange of this method, my ability to read and understand English is not good so I want to learn more knowledge from those who understand.
Im reply for you.
  • #2,984
  • May 6, 2019 2:41am May 6, 2019 2:41am
The 4H still has a short distance to go to break the 3088 average so I would be on the lookout for a long trade cropping up to carry the average onwards and upwards.

So let's see if the 1H get a bounce off the EMA at this time.

We should see this first at the lower time frames.
  • #2,985
  • May 6, 2019 3:06am May 6, 2019 3:06am
That's my direction too Alan. Today can be slow with the UK bank holiday.
HD on M5 at 10:30 bar.
Trading S/R with PA only. No indicators anymore!
  • #2,986
  • May 6, 2019 3:27am May 6, 2019 3:27am
I see 1 div first 108 bar and 1 HD.
Have buy it?
Have we to do now? Mr.Nala
Attached Image (click to enlarge)
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  • #2,987
  • May 6, 2019 8:21am May 6, 2019 8:21am
Quoting Jazz1964
That's my direction too Alan. Today can be slow with the UK bank holiday. HD on M5 at 10:30 bar.
Oh OK I didn't know it was a holiday. I have only made pips by scalping, guess I will quit for today.
  • #2,988
  • May 6, 2019 8:22am May 6, 2019 8:22am
Quoting HoangPhuong
I see 1 div first 108 bar and 1 HD. Have buy it? Have we to do now? Mr.Nala {image}
Yes but they are going nowhere today.
  • #2,989
  • May 6, 2019 11:23am May 6, 2019 11:23am
Hello.

i'm around 2weeks reading and sumarizing this strategy, and i have 2 doubts/questions.

When you say "RSI it ran into exhaustion" after find support, does it mean a touch the 80/20 level on the RSI or just a divergence or a failure to reach new highs or lows is enough??

an the other one:
i know we have to look deep into the little reactions, but i still having problems when the first retracement/hedge is only getting into 38% sometimes.

Maybe is just the low volume last weeks because european christian holidays there is less money in the market.
i'm from spain (exactly on the opossite side of the planet from AUS ;D ) and we have what we call "semana santa" last 2 weeks, london is closed today, etc...)

i've noticed studying past charts that when the hedge do the perfect 50-61% retracement, the consecuent reacion AB=CD has a very high percentage to appear, but when is a little one retracement to only 38% not always is completed.

Greettings.
  • #2,990
  • May 6, 2019 2:16pm May 6, 2019 2:16pm
Mr Alan.......Hi and thank you for sharing this most impressive strategy taking pips from the market in the most common sense way I have ever seen,I have sent about 1 week reading through this thread and I've understood almost all of you...plain simple English language instructions,nothing is needed to addon here.....the only think that I'm not capable of doing is knowing how to scalp a level when the intended direction has been reversed.......can you explain please if possible, I am on page 70 right now reading....hopefully I complete soon. Thank you.
  • #2,991
  • May 6, 2019 11:38pm May 6, 2019 11:38pm
Hi guys.

The last two questions by lokone and acsstnt are very closely related.

When the days trading begins for us about the 108 5 minute bar and the RSI is way down in the basement (exhaustion at 20% if you like) it would be logical to assume that the next move the market is going to make is upwards for the session but we cannot simply assume this. We thus look for something else like a divergence and make a tentative entry.

A tentative entry always starts off as a scalp and our hope is that we are correctly orientated to add additional entries, thus turning the scalp into a trade.

This results in the trade being a 1st, 2nd and 3rd entry. Our lot size entries grow as we become more sure of the direction but it can still turn and bite our bum so we keep the stop moving tightly until we get it to BE where we can the relax a tad. We use the signals we see to make these additional entries and can often fail in our attempt to double our account but we keep trying.

Once we do double our account say $1000 then we have a sum of money extracted from the market we can trade without risking our own money. At this stage I opt for just 2 entries of half each so I continue to risk a little with the potential to win a lot.

Hope this helps
  • #2,992
  • May 7, 2019 12:52am May 7, 2019 12:52am
Yesterday I didn't trade too well. But hey.... our losses are small compared to winners!
I had this ZOO marked up on my chart, it's the 50% retracement of the NFP move.
Attached Image (click to enlarge)
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Trading S/R with PA only. No indicators anymore!
  • #2,993
  • May 7, 2019 1:08am May 7, 2019 1:08am
As for today, I am looking for Long business:
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I still have an H4 AB=CD and an ABCD target to reach:
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I am cautious due to H1 neg. div building up:
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At this very moment no interesting M5 entry to spot.
Trading S/R with PA only. No indicators anymore!
  • #2,994
  • May 7, 2019 1:59am May 7, 2019 1:59am
Looks like I missed a nice M5 entry
Attached Image (click to enlarge)
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Trading S/R with PA only. No indicators anymore!
  • #2,995
  • May 7, 2019 2:08am May 7, 2019 2:08am
Quoting Jazz1964
Looks like I missed a nice M5 entry {image}
I am waiting for the signal for longs to be formed near H1 EMA
  • #2,996
  • May 7, 2019 3:13am May 7, 2019 3:13am
Quoting Jazz1964
Yesterday I didn't trade too well. But hey.... our losses are small compared to winners! I had this ZOO marked up on my chart, it's the 50% retracement of the NFP move. {image}
Price is approaching your ZOO. Plan still stands?
  • #2,997
  • Edited 3:48am May 7, 2019 3:14am | Edited 3:48am
In hindsight, on M5 there was bearish HD around bar108, in line with what we saw developing on H1.
Attached Image (click to enlarge)
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H1 didn't make the EMA HH and Bulls didn't find support.
Let's see if bears find support now.
Trading S/R with PA only. No indicators anymore!
  • #2,998
  • May 7, 2019 3:53am May 7, 2019 3:53am
Quoting quangvision
{quote} Price is approaching your ZOO. Plan still stands?
That ZOO was reached yesterday in my afternoon. It's not of value anymore.
I posted that pic to show market structure.
Trading S/R with PA only. No indicators anymore!
  • #2,999
  • May 7, 2019 4:14am May 7, 2019 4:14am
One question about SL. When we open trade and a bit later hopefully it starts to go our way we than move SL to BE!
But let's say that our target is about 50 pips away, do you guys move your SL anymore or do you keep it at BE all the way till the target is hit?
  • #3,000
  • May 7, 2019 4:30am May 7, 2019 4:30am
Quoting Green-Pips1
One question about SL. When we open trade and a bit later hopefully it starts to go our way we than move SL to BE! But let's say that our target is about 50 pips away, do you guys move your SL anymore or do you keep it at BE all the way till the target is hit?
You sure should secure profits. It should have been published in the pdf which David made from Alan's posts.
Trading S/R with PA only. No indicators anymore!
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