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Trading the Cable swings via averages

  • #3,241
  • May 29, 2019 12:39am May 29, 2019 12:39am
Quoting Nala66
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)...
This is how my H1 looks like now... its a bit messy but there are few ABCD to be completed down there around 1.25874 level wich there is also an average H1 swim.
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I was re-reading the pdf yesterday to get better and better the concepts and re-viwing the trades that could happen yesterday. I did not notice in live just in hindsight that trade that mike catch was a text book retest of the H1 bear resistence(where bear founded support) and down to m5 there was clear divergences so as a target after bulls attemp the EMA and fail to find support...New LL.. and it happens. Great trade mike and im happy to be step by step seeing how beauty this Alan`s method is once we know what to look for.
  • #3,242
  • May 29, 2019 1:11am May 29, 2019 1:11am
Quoting witowito
{quote} This is how my H1 looks like now... its a bit messy but there are few ABCD to be completed down there around 1.25874 level wich there is also an average H1 swim.{image} I was re-reading the pdf yesterday to get better and better the concepts and re-viwing the trades that could happen yesterday. I did not notice in live just in hindsight that trade that mike catch was a text book retest of the H1 bear resistence(where bear founded support) and down to m5 there was clear divergences so as a target after bulls attemp the EMA and fail to find...
Your analyses are great, terrific student in Cable Swing Average Class . Perfect analyses of Mike's Short.
He had good reason to take the Long too.
Trading S/R with PA only. No indicators anymore!
  • #3,243
  • May 29, 2019 1:19am May 29, 2019 1:19am
Can we consider this as a bear support or it should be closed below the EMA? the thing is that RSI closed below waterline... thats why it makes me think if is valid or not...
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  • #3,244
  • May 29, 2019 1:20am May 29, 2019 1:20am
Quoting Jazz1964
{quote} Your analyses are great, terrific student in Cable Swing Average Class . Perfect analyses of Mike's Short. He had good reason to take the Long too.
Thnks Jazz... just a beginner so Far. Working hard to get to ur level
  • #3,245
  • May 29, 2019 1:28am May 29, 2019 1:28am
Quoting witowito
Can we consider this as a bear support or it should be closed below the EMA? the thing is that RSI closed below waterline... thats why it makes me think if is valid or not... {image}
For me, it is, especially with that pin. But I don't know how strict Alan is about this.
Trading S/R with PA only. No indicators anymore!
  • #3,246
  • May 29, 2019 1:31am May 29, 2019 1:31am
Quoting witowito
{quote} Thnks Jazz... just a beginner so Far. Working hard to get to ur level
I am not the guru here! Had a hard time myself but getting to consistency lately. Although my problem wasn't understanding, but proper following the plan and execution. Just like you... with hard work and focus. And valuable support from Alan and a few other friends here!
Trading S/R with PA only. No indicators anymore!
  • #3,247
  • May 29, 2019 1:38am May 29, 2019 1:38am
Quoting Jazz1964
{quote} I am not the guru here! Had a hard time myself but getting to consistency lately. Although my problem wasn't understanding, but proper following the plan and execution. Just like you... with hard work and focus. And valuable support from Alan and a few other friends here!
I like whats in the blue box... I think the key of succes...
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  • #3,248
  • May 29, 2019 1:42am May 29, 2019 1:42am
Stopped out my shorts at BE, bears could not found support and now back above the EMA... i think i should hedge this trade but ther was just 6pips profits so i though it did not worth it...
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  • #3,249
  • May 29, 2019 1:43am May 29, 2019 1:43am
I had/have shorts running but started building longs at 1.26550
life is a reflection of what we allow ourselves to see
  • #3,250
  • May 29, 2019 1:52am May 29, 2019 1:52am
My shorts were closed with a small loss (at entry first trade) but I re-entered at the M5 HD
M5 EMA trying to make a lower high now
Trading S/R with PA only. No indicators anymore!
  • #3,251
  • May 29, 2019 1:55am May 29, 2019 1:55am
Quoting mikeeating
I had/have shorts running but started building longs at 1.26550
Did you reverse again, or?
Trading S/R with PA only. No indicators anymore!
  • #3,252
  • May 29, 2019 1:56am May 29, 2019 1:56am
still short start small long
life is a reflection of what we allow ourselves to see
  • #3,253
  • May 29, 2019 1:58am May 29, 2019 1:58am
Quoting Jazz1964
{quote} Did you reverse again, or?
yess at 1.26637
life is a reflection of what we allow ourselves to see
  • #3,254
  • May 29, 2019 2:02am May 29, 2019 2:02am
very tricky today
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life is a reflection of what we allow ourselves to see
  • #3,255
  • Edited 2:23am May 29, 2019 2:08am | Edited 2:23am
Quoting mikeeating
very tricky today {image}
Yep very hard for me..
Now they are at ZOO area in m5 RSI bull diver... So back tom EMA?
  • #3,256
  • May 29, 2019 2:09am May 29, 2019 2:09am
Quoting mikeeating
{quote} yess at 1.26637
this should of been, once I saw that HD at 1.26637 then I started adding as it crossed ema, not sure if that's what I was meant to do, so I scaled in, obviously hard to do when its jumping around
life is a reflection of what we allow ourselves to see
  • #3,257
  • May 29, 2019 2:10am May 29, 2019 2:10am
Quoting witowito
{quote} Yep very hard for me.. Now they are at ZOO area in m5 RSI bull divergencesish ... So back tom EMA?
Im hoping it will go to 1.26315
life is a reflection of what we allow ourselves to see
  • #3,258
  • May 29, 2019 2:15am May 29, 2019 2:15am
Careful with H1 div
and M5 too
I am hedged at 45
Trading S/R with PA only. No indicators anymore!
  • #3,259
  • May 29, 2019 2:32am May 29, 2019 2:32am
Quoting witowito
Can we consider this as a bear support or it should be closed below the EMA? the thing is that RSI closed below waterline... thats why it makes me think if is valid or not... {image}
RSI was at 50.366 so it too was above
  • #3,260
  • May 29, 2019 2:40am May 29, 2019 2:40am
Quoting Nala66
. 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. {image}
Wasn't this exactly the case?
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