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Trading the Cable swings via averages

  • #3,261
  • May 29, 2019 2:42am May 29, 2019 2:42am
I wonder that is bear support on the 5 now
life is a reflection of what we allow ourselves to see
  • #3,262
  • May 29, 2019 2:47am May 29, 2019 2:47am
Quoting Nala66
{quote} Wasn't this exactly the case?
Perfect analyses! now awaiting the H1 EMA LL
M5 just did that.
Trading S/R with PA only. No indicators anymore!
  • #3,263
  • May 29, 2019 2:51am May 29, 2019 2:51am
Quoting mikeeating
I wonder that is bear support on the 5 now
sure.
Again need to be careful with the M5 reg bull div
but i am not hedged
Trading S/R with PA only. No indicators anymore!
  • #3,264
  • May 29, 2019 2:51am May 29, 2019 2:51am
Bingo I'm done
  • #3,265
  • May 29, 2019 2:54am May 29, 2019 2:54am
Quoting Nala66
Bingo I'm done
tssssssss
that means you didn't hedge but reversed two times?
Trading S/R with PA only. No indicators anymore!
  • #3,266
  • May 29, 2019 2:55am May 29, 2019 2:55am
Bit of a roller coaster here.

Went short, took the hedge long. Closed hedge and added another short.
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  • #3,267
  • May 29, 2019 2:57am May 29, 2019 2:57am
Quoting Nala66
Bit of a roller coaster here. Went short, took the hedge long. Closed hedge and added another short. {image}
perfection
Trading S/R with PA only. No indicators anymore!
  • #3,268
  • May 29, 2019 2:59am May 29, 2019 2:59am
Quoting Nala66
Bit of a roller coaster here. Went short, took the hedge long. Closed hedge and added another short. {image}
Very nice.
I took first short then stoped me out BE and I got frozen looking how price drops without me... i guess the flexibility and speed come with experience
May I ask about that yellow EMA¿?
Thnks
  • #3,269
  • May 29, 2019 3:05am May 29, 2019 3:05am
Quoting witowito
{quote} Very nice. I took first short then stoped me out BE and I got frozen looking how price drops without me...
this was my biggest hurdle was getting a good entry and then watching it run 10 pips and then turn against me in divergence, this usually happens at key levels. Sometimes I hedge but if I'm not sure I just start adding new positions the other way. That way my losses are very small and at the worst usually breakeven.
life is a reflection of what we allow ourselves to see
  • #3,270
  • May 29, 2019 3:08am May 29, 2019 3:08am
I have started to notice now that after 7 months I am starting to see it do similar things over and over. I imagine in my limited experience that this is the key to trading, being less anxious and expecting the unexpected and just managing each event as it unfolds
life is a reflection of what we allow ourselves to see
  • #3,271
  • May 29, 2019 3:10am May 29, 2019 3:10am
Got a question on my first short setup, I took an exit at the price of the first entry.
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But I thought that's a bad place and that was the case this time.
My thought was: I exit right at the middle of price action that decided to go south..... that should become resistance.... so the stop should be higher above price action, making the loss a bit bigger.
What's your thought, Alan?
Trading S/R with PA only. No indicators anymore!
  • #3,272
  • May 29, 2019 3:11am May 29, 2019 3:11am
Quoting mikeeating
I have started to notice now that after 7 months I am starting to see it do similar things over and over. I imagine in my limited experience that this is the key to trading, being less anxious and expecting the unexpected and just managing each event as it unfolds
That was exactly my thought this morning.
Again Alan, thanks so much!
Trading S/R with PA only. No indicators anymore!
  • #3,273
  • May 29, 2019 3:31am May 29, 2019 3:31am
Quoting mikeeating
I have started to notice now that after 7 months I am starting to see it do similar things over and over. I imagine in my limited experience that this is the key to trading, being less anxious and expecting the unexpected and just managing each event as it unfolds
"Experience is the knowledge you learn when you no longer need it"
Trading S/R with PA only. No indicators anymore!
  • #3,274
  • May 29, 2019 3:48am May 29, 2019 3:48am
Quoting Jazz1964
Got a question on my first short setup, I took an exit at the price of the first entry. {image} But I thought that's a bad place and that was the case this time. My thought was: I exit right at the middle of price action that decided to go south..... that should become resistance.... so the stop should be higher above price action, making the loss a bit bigger. What's your thought, Alan?
I would say you were hard done by this, this time. You were done by the retest or what is often called the "J" curve where the stop out is actually the entry point.

The HD you have was not a HD on my chart the HD came much earlier and was followed with a couple more.

That said it shows just how quick you need to get back in the saddle.
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  • #3,275
  • May 29, 2019 4:02am May 29, 2019 4:02am
Quoting witowito
{quote} Very nice. I took first short then stoped me out BE and I got frozen looking how price drops without me... i guess the flexibility and speed come with experience May I ask about that yellow EMA¿? Thnks
Ha, yes this is the fault of Jazz. He reminded me of something I wrote about long ago but as yet I have not been able to find the writing.

In essence we put the next higher time frame EMA on the chart and thus we see some strange things happen.

If you would like to put them on divide the next time frame by the number of bars you are looking at and multiply by 26.

Thus 1m into 5m = 5 x26 = 130EMA
5m into 15m = 3 x 26 = 78EMA
15m into 1H = 4 x 26 = 104 EMA

I wouldn't put more than the very next chart on because we have to keep an eye on the RSI also.

I will continue to look for my writings on the subject.
  • #3,276
  • May 29, 2019 4:46am May 29, 2019 4:46am
If you look at the differences between the trade Jazz took and the short I took you should be able to see that my trade was a failed average high

When Jazz took the trade price bounced off the average low. If price bounces off a an average swing then there is no way for the average to make the LL.

Hope you can see this subtle difference
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  • #3,277
  • May 29, 2019 5:36am May 29, 2019 5:36am
Quoting Nala66
If you look at the differences between the trade Jazz took and the short I took you should be able to see that my trade was a failed average high When Jazz took the trade price bounced off the average low. If price bounces off a an average swing then there is no way for the average to make the LL. Hope you can see this subtle difference {image}
So making a resume too see if understood it correctly:
1)Price went to H1 EMA & average swim m5 and shows Divergences(HD) and fast RSI overbough at that level(where Jazz and my self took shorts)
2)Price start moving down breaking the EMA but could not find bear support (RSI made a J instead of HOOK) ... Bulls Diver at average swim and back up to test the EMA and the HH average swim.
3)Now price attemp to make HH average swim but again in RSI DIV and with the bigger picture in mind fails (also H1 EMA around that level) U took the short looking for LL average swim and the rest is history of how to get ur beautiful daily pips...
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  • #3,278
  • May 29, 2019 5:50am May 29, 2019 5:50am
Quoting witowito
{quote} So making a resume too see if understood it correctly: 1)Price went to H1 EMA & average swim m5 and shows Divergences(HD) and fast RSI overbough at that level(where Jazz and my self took shorts) 2)Price start moving down breaking the EMA but could not find bear support (RSI made a J instead of HOOK) ... Bulls Diver at average swim and back up to test the EMA and the HH average swim. 3)Now price attemp to make HH average swim but again in RSI DIV and with the bigger picture in mind fails (also H1 EMA around that level) U took the short looking...
Yes correct.

Now observe if the 5m average is to make the LL price will also have to cross the 15m EMA (an advantage of having the two on the same chart)

Then this 15m average will also attempt to make the LL via the domino effect.

All this time we would be looking for something to stop this happening and would hedge it as insurance.
  • #3,279
  • May 29, 2019 5:56am May 29, 2019 5:56am
We could also observe the 15 min chart and see the 15 average has been travelling below the 1hour average and at our time of interest we had an RSI div right at the ZOO point of the 1H EMA
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  • #3,280
  • May 29, 2019 6:14am May 29, 2019 6:14am
On the 1H we could be looking at 2586 as the next lower level to visit.
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