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Trading the Cable swings via averages

  • #3,401
  • Jun 5, 2019 4:18am Jun 5, 2019 4:18am
Quoting simon.says
{quote} I can't see any pivot at your A point Mike. The pivot is above, so it's not drawn correctly.
thanks Simon, I have corrected it, what about the one over the RSI, does that need to be going (slanted) the other way?
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life is a reflection of what we allow ourselves to see
  • #3,402
  • Jun 5, 2019 4:25am Jun 5, 2019 4:25am
Quoting mikeeating
{quote} thanks Simon, I have corrected it, what about the one over the RSI, does that need to be going (slanted) the other way? {image}
Because the line on the chart is now pointing in the same direction as your slow RSI line, it is no longer a valid ABCD.
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  • #3,403
  • Jun 5, 2019 4:32am Jun 5, 2019 4:32am
Quoting simon.says
{quote} Because the line on the chart is now pointing in the same direction as your slow RSI line, it is no longer a valid ABCD. {image}
ok thanks, that's what I thought, should get it soon
life is a reflection of what we allow ourselves to see
  • #3,404
  • Jun 5, 2019 4:35am Jun 5, 2019 4:35am
looks like the 5m swing just broke
life is a reflection of what we allow ourselves to see
  • #3,405
  • Jun 5, 2019 4:59am Jun 5, 2019 4:59am
Quoting mikeeating
looks like the 5m swing just broke
Yes and the support is still holding and has just been tested
  • #3,406
  • Jun 5, 2019 5:09am Jun 5, 2019 5:09am
You also have a div triangle now on the 5 min

See on the underside of the RSI the line is sloping down.

On the underside of price the line is sloping up.

B is the pivot being tested by C
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  • #3,407
  • Jun 5, 2019 5:13am Jun 5, 2019 5:13am
We can see there were two possible places for C so this gives us a range.

We can see the move has failed at the bullish 50%
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  • #3,408
  • Jun 5, 2019 5:18am Jun 5, 2019 5:18am
At that 50% level we would call this a ZOO point and check the lower time frame in this case the 1 min and there we have bearish divergence.
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  • #3,409
  • Jun 5, 2019 5:20am Jun 5, 2019 5:20am
Of course these moves are only tiny so we would not get too excited about trading them.

Hope that helps Mike.
  • #3,410
  • Jun 5, 2019 5:28am Jun 5, 2019 5:28am
Quoting Nala66
Of course these moves are only tiny so we would not get too excited about trading them. Hope that helps Mike.
Thanks thats great as always
life is a reflection of what we allow ourselves to see
  • #3,411
  • Jun 5, 2019 6:02am Jun 5, 2019 6:02am
We have just had a 50% retracement of the up move.

The AB = CD takes it to 2740 ???????
  • #3,412
  • Jun 5, 2019 7:54pm Jun 5, 2019 7:54pm
Well it made the 2740 to be exact it was 2743.

Now things are getting very interesting and complex.

We have both an ABCD (two options = range) and an AB = CD to contend with. This makes the chart a tad difficult to follow so I have colour coded the two.

All in all it looks like some good moves ahead of us, I would prefer the long option to get price into the wide open space above.

Pity the price does not do what I want it to so don't jump the gun, wait for the 108 signals.
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  • #3,413
  • Jun 5, 2019 11:54pm Jun 5, 2019 11:54pm
Quoting Nala66
Well it made the 2740 to be exact it was 2743. Now things are getting very interesting and complex. We have both an ABCD (two options = range) and an AB = CD to contend with. This makes the chart a tad difficult to follow so I have colour coded the two. All in all it looks like some good moves ahead of us, I would prefer the long option to get price into the wide open space above. Pity the price does not do what I want it to so don't jump the gun, wait for the 108 signals. {image}
It is very interesting how a continuation Div (ABCD) make things harder or complex for direction.
I was looking at this at H1 before considering the pictures u share... But as u told me last day we looking for failure so I guess that the continuation div tell us that price/EMA can fail and go in the other direction. so as u saying let see whats 108 brings and how price act at h1 EMA.
I dont really know how to act in this situation or when jump in if is a long play today.
Thanks for sharing chart by the way.
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  • #3,414
  • Jun 6, 2019 1:32am Jun 6, 2019 1:32am
Good day,
The next swing point ,2630, is at confluence with the 61.8% retracement, possibly our C
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Price Action Lives Here
  • #3,415
  • Jun 6, 2019 1:51am Jun 6, 2019 1:51am
5m is in divergence and London is in 10 minutes
life is a reflection of what we allow ourselves to see
  • #3,416
  • Jun 6, 2019 1:52am Jun 6, 2019 1:52am
Quoting Halalisani1
Good day, The next swing point ,2630, is at confluence with the 61.8% retracement, possibly our C {image}
Interesting hey
  • #3,417
  • Jun 6, 2019 1:53am Jun 6, 2019 1:53am
Quoting mikeeating
5m is in divergence and London is in 10 minutes
Yep looking at that for starters but will wait a tad a see what happens here
  • #3,418
  • Jun 6, 2019 3:05am Jun 6, 2019 3:05am
Lost a bit getting started there but got it back
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  • #3,419
  • Jun 6, 2019 3:18am Jun 6, 2019 3:18am
I need it to hit the 2696
  • #3,420
  • Jun 6, 2019 3:21am Jun 6, 2019 3:21am
Quoting Nala66
I need it to hit the 2696
didnt u cosider a hedge when it got in the h1 ema and m5 overbought? also m15?
I had couple of lost trying to long it at bottom, then a lost trying to short it... and now seated on my hands
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