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Trading the Cable swings via averages

  • #3,001
  • May 7, 2019 6:22am May 7, 2019 6:22am
Hey!
Thank you Alan for sharing your method.
Been studying the thread for a few days, currently on page 57.
Quick question on drawing divergences...
Currently on the attached H1 chart, I believe there's RSI-Div (red lines) but at the same time there wouldn't be divergence if I considered the blue lines.
While it seems obvious to use the last point in the chart to finish drawing the divergence, the starting point could be a little tricky.
Is there a rule for drawing the divergence which I am missing?
Thanks in advance for your input.
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  • #3,002
  • May 7, 2019 7:50am May 7, 2019 7:50am
Just popped in to see how you guys read the charts today.

Here was mine..
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  • #3,003
  • May 7, 2019 7:53am May 7, 2019 7:53am
Just to show how went today, after 2 stops i accepted the overbought signal telling me, that today we had a 31.8% retracement to close the hedge, after the previous oversold, after the little div and bears found support.

Thanks Nala, i guess i just needed a little push to accept it

is a bit messy capture but i'm still bit atached to the bill williams analisis as a confirmation of the momentum.
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  • #3,004
  • May 7, 2019 7:57am May 7, 2019 7:57am
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?
A good question but it depends if you have managed to get all your entries on. Obviously the trick is firstly to get the stops all in a profitable position but not the choke the life out of the trade. Then when you feel more confident lock in more and more profits until the objective is reached,

Todays trade took forever and all the time it felt like I would be stopped out for ten pips profit. Then the continuation div kicked in and I was a happy chappy.

The trick is to lose as little as possible and make hay when the sun shines.
  • #3,005
  • May 7, 2019 8:02am May 7, 2019 8:02am
Quoting lokone303
Just to show how went today, after 2 stops i accepted the overbought signal telling me, that today we had a 31.8% retracement to close the hedge, after the previous oversold, after the little div and bears found support. Thanks Nala, i guess i just needed a little push to accept it is a bit messy capture but i'm still bit atached to the bill williams analisis as a confirmation of the momentum. {image}
Ha, your charts look far too over analysed to me . It would make it too hard to see the wood for the trees.

Ask the simple questions.

Are we trading above or below the EMA? Below.
If below have the bears found support. Yes.
So we are short... It is that simple.

We can then look for additional signals to give us confidence our trade is working and the possible target price is looking for.
  • #3,006
  • May 7, 2019 8:08am May 7, 2019 8:08am
At a guess where would you expect this 1H to be heading for.
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  • #3,007
  • May 7, 2019 10:20am May 7, 2019 10:20am
Quoting Nala66
At a guess where would you expect this 1H to be heading for. {image}
I know I know but nobody dares to answer!
Trading S/R with PA only. No indicators anymore!
  • #3,008
  • May 7, 2019 11:23am May 7, 2019 11:23am
Quoting Nala66
At a guess where would you expect this 1H to be heading for. {image}
The average failed to take the swing above to make a HH, so it will probably take the one below where the price is heading to. That means that the price should reach the bottom green levels (at least the upper one)
  • #3,009
  • May 7, 2019 11:17pm May 7, 2019 11:17pm
Yellow - MA HH LL
Brown - AB=CD
Red - ABCD
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  • #3,010
  • May 8, 2019 1:10am May 8, 2019 1:10am
Quoting Aerials
{quote} The average failed to take the swing above to make a HH, so it will probably take the one below where the price is heading to. That means that the price should reach the bottom green levels (at least the upper one)
Well it tried but ran into bullish divergence
  • #3,011
  • May 8, 2019 2:18am May 8, 2019 2:18am
Hi Alan,

Looks as if its trying to head back to the 1H pre NFP ZOO point.

Cheers John
  • #3,012
  • May 8, 2019 4:30am May 8, 2019 4:30am
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  • #3,013
  • May 8, 2019 5:05am May 8, 2019 5:05am
Quoting priyank20
{image}
I look it go down again.
  • #3,014
  • May 8, 2019 5:28am May 8, 2019 5:28am
AB=CD target completed
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  • #3,015
  • May 8, 2019 5:59am May 8, 2019 5:59am
Quoting priyank20
AB=CD target completed {image}
Coolz, did you take the trade?
  • #3,016
  • May 8, 2019 6:17am May 8, 2019 6:17am
Quoting priyank20
AB=CD target completed {image}
Well done.

You have a continuation divergence on the 1H chart and have formed an ABCD triangle from it. I don't like these ones because both B and C are on the same side of the EMA. I like them when they are on opposite sides.

--------------------------------

So everyone should have been paid a good profit today as price has now pushed past the swing low average for much more than 40 pips.

Let's see what tomorrow brings.
  • #3,017
  • May 8, 2019 6:30am May 8, 2019 6:30am
There are actually two AB = CD's on the 1 hour chart the first hitting its target yesterday and the second closing in on its target today.

When measuring these don't forget the + or - at the 50% retracement and attached this to the target area.
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  • #3,018
  • May 8, 2019 7:08am May 8, 2019 7:08am
Whoops I made a mistake drawing this second AB = CD.

The CD line should have started at the 50% level then the + or - to give us D.
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  • #3,019
  • May 8, 2019 4:14pm May 8, 2019 4:14pm
Quoting Nala66
{quote} Ha, your charts look far too over analysed to me . It would make it too hard to see the wood for the trees. Ask the simple questions. Are we trading above or below the EMA? Below. If below have the bears found support. Yes. So we are short... It is that simple. We can then look for additional signals to give us confidence our trade is working and the possible target price is looking for.
is just so beautiful to me all this fibonacci averqages dancing to each other ;D

Working on a much clear Setup (removing stress a lot).

I had all this parafernalia of indicators because this strategy still pretty similar, on a logical way, to the Sleepig alligator setup from bill williams, waiting the aligator to wake up and smell around (creates div) and look for clues of the direction of the breakfast, but your insights on th RSI signals on the CABLE are amazingly precise.

if you didnt done it before, can you tell us from were comes the numbers and the idea to use the RSi of the RSI, besides fast RSI analyze how strong is going the slow RSI and the slow RSI analyze how strong are price movements.

just curious on how you lived the "eureka moment" when you figured all this out. i like this Mad Matthematician things
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  • #3,020
  • May 8, 2019 10:26pm May 8, 2019 10:26pm
Today's 1 hr chart
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