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Trading the Cable swings via averages

  • #3,221
  • May 27, 2019 1:25am May 27, 2019 1:25am
Quoting Jazz1964
{quote} Same to you! Today is both UK and US bank holiday
oooh So probably It will be very quiet day .
  • #3,222
  • May 27, 2019 1:26am May 27, 2019 1:26am
I am expecting the average is attempting to make the HH than 2727. If it does then there is a huge open space to the next up level so we may just see a zig zag move.
  • #3,223
  • May 27, 2019 1:28am May 27, 2019 1:28am
Quoting Nala66
I am wondering what will happen when price gets to D here on the 1 hour {image}
I was wondering the same cause its also 50% of a bigger one (yellow one)
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  • #3,224
  • May 27, 2019 1:33am May 27, 2019 1:33am
Quoting witowito
{quote} I was wondering the same cause its also 50% of a bigger one (yellow one) {image}
Yes that is correct I have that drawn in too..Magenta
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  • #3,225
  • May 27, 2019 2:16am May 27, 2019 2:16am
Bear support on the 5
  • #3,226
  • May 27, 2019 2:30am May 27, 2019 2:30am
do you think they will target the days opening gap?
life is a reflection of what we allow ourselves to see
  • #3,227
  • May 27, 2019 2:48am May 27, 2019 2:48am
Quoting mikeeating
do you think they will target the days opening gap?
It is more or less H1 Ema also.
Price getting there with H1 div and m5...
  • #3,228
  • May 27, 2019 2:49am May 27, 2019 2:49am
Quoting witowito
{quote} It is more or less H1 Ema also. Price getting there with H1 div and m5...
your right

also someone told me that putting the 340 MA on your 5 min chart is the same as having the 1hour MA on your 5min chart for reference
life is a reflection of what we allow ourselves to see
  • #3,229
  • May 27, 2019 3:09am May 27, 2019 3:09am
Quoting mikeeating
{quote} also someone told me that putting the 340 MA on your 5 min chart is the same as having the 1hour MA on your 5min chart for reference
12 M5 bars in an hour makes:
12 x EMA(26) = EMA(312)
(12 x 26 = 312)
So a H1 EMA(26) = M5 EMA(312)
Trading S/R with PA only. No indicators anymore!
  • #3,230
  • May 27, 2019 4:09am May 27, 2019 4:09am
Done for today.
With the bear div's on H1, M15 and M5 my take was down. Although countertrend.
First trade was a loss.
Then 2 nice winners.
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Trading S/R with PA only. No indicators anymore!
  • #3,231
  • May 27, 2019 4:23am May 27, 2019 4:23am
Quoting Jazz1964
Done for today. With the bear div's on H1, M15 and M5 my take was down. Although countertrend. First trade was a loss. Then 2 nice winners. {image}
how did you pick that level to close?
life is a reflection of what we allow ourselves to see
  • #3,232
  • May 27, 2019 4:27am May 27, 2019 4:27am
Quoting mikeeating
{quote} how did you pick that level to close?
I moved my stop with M1 bars. That was triggered.
When getting to the H1 EMA it didn't look to stop there.
40 pips for me was at 2697, possibly it will get there
Trading S/R with PA only. No indicators anymore!
  • #3,233
  • May 27, 2019 6:00am May 27, 2019 6:00am
Quoting Jazz1964
Done for today. With the bear div's on H1, M15 and M5 my take was down. Although countertrend. First trade was a loss. Then 2 nice winners. {image}
Very nice and fast.
Market did not care about bank holiday fro UK & US...
Early morning ur daily target and done for the day...
Lovely.Congrat mate.
  • #3,234
  • May 27, 2019 6:16am May 27, 2019 6:16am
Quoting witowito
{quote} Market did not care about bank holiday fro UK & US...
It's not that bank holidays mean less movement per se. What it does mean is that liquidity is low and thus any movement can go unexpectedly quick and wide.
Trading S/R with PA only. No indicators anymore!
  • #3,235
  • May 27, 2019 6:21am May 27, 2019 6:21am
Now let's see if the bears find support on H1.
(Who learned me to think like this? ).
H4 is also below the EMA again.
Trading S/R with PA only. No indicators anymore!
  • #3,236
  • May 27, 2019 7:13am May 27, 2019 7:13am
Quoting Jazz1964
Now let's see if the bears find support on H1. (Who learned me to think like this? ). H4 is also below the EMA again.
Looks like price is trying to find bear support.
let see how this hourly candel close but there is some continuation divergences in H1(aqua color) wich could try to push EMA up to make the HH ¿?
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  • #3,237
  • May 28, 2019 12:59am May 28, 2019 12:59am
Quoting Jazz1964
Now let's see if the bears find support on H1. (Who learned me to think like this? ). H4 is also below the EMA again.
And it found bear support on H4...
Thats means basically continuation of the bear trend?
  • #3,238
  • May 28, 2019 2:10am May 28, 2019 2:10am
shaping up to be another great week, hope you guys got some, I got stopped out of my longs, but the drop down was good
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life is a reflection of what we allow ourselves to see
  • #3,239
  • May 28, 2019 3:12am May 28, 2019 3:12am
Nice trading Mike! Congratzz
I was distracted from screens, unfortunately.
Trading S/R with PA only. No indicators anymore!
  • #3,240
  • May 28, 2019 7:06pm May 28, 2019 7:06pm
Looking at the 1 hour the average having failed the 2727 is now testing the opposite side of 2666 and is just about there.

Yesterday was very choppy and if one didn't get in at the 108 time (as Mike did) then you would probably have run into a lot of trouble in the chop.

On the hour only the one decent signal in the form of a smallish ABCD but even this took about 5 hours to execute.


The lower time frames got us in at the 108 to be short, good old 5 min chart.


A couple of hours ago the bears were in divergence (both regular bullish and RSI bullish) so we should see an attempt to run back up to the average. If the bears can overcome this then watch out for a rather large dive with an impulse bar dragging the EMA to a LL.

Anyway the story should unfold when we get to 108.
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