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Trading the Cable swings via averages

  • #3,541
  • Jun 14, 2019 3:26am Jun 14, 2019 3:26am
Quoting Jazz1964
{quote} Seems you have your fast RSI incorrectly attached. You have to set the parameters to "Apply to: First Indicator's Data" End then I don't see anything diverging on your lines. Maybe start to re-read the thread?
Jazz1964, It was attached absolutely correctly.
There is no any divergence on my chart, that was interesting....
  • #3,542
  • Jun 14, 2019 3:35am Jun 14, 2019 3:35am
Quoting fxpractice
{quote} Jazz1964, It was attached absolutely correctly. There is no any divergence on my chart, that was interesting....
No its not good attached... It should looks like this...
Notice the arrow between indicators
Attached Image (click to enlarge)
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  • #3,543
  • Jun 14, 2019 3:36am Jun 14, 2019 3:36am
Quoting Jazz1964
{quote} That's a divergence between both RSI's. One goes up, the other goes down. It has been called Alan's Div in this thread. That's not yet on Wikipedia.
I see, haven't seen this form before, I would have thought the first yellow peak should be above the dotted white line, so when you draw the divergence line, it makes a cross
  • #3,544
  • Jun 14, 2019 4:48am Jun 14, 2019 4:48am
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 109 KB

The hedges taken on M1 and M5... that's the hardest part.... when to hedge and when to reverse.
Trading S/R with PA only. No indicators anymore!
  • #3,545
  • Jun 14, 2019 5:03am Jun 14, 2019 5:03am
Quoting witowito
{quote} No its not good attached... It should looks like this... Notice the arrow between indicators {image}
witowito, I think you are right.
But I just don't have the option of "previos indicator data" or "first indicator data" in my RSI parameters window.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 142 KB
  • #3,546
  • Jun 14, 2019 5:06am Jun 14, 2019 5:06am
Quoting fxpractice
{quote} witowito, I think you are right. But I just don't have the option of "previos indicator data" or "first indicator data" in my RSI parameters window. {image}
be sure to take the RSI from here and bring it to the window with the first RSI
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 36 KB
Trading S/R with PA only. No indicators anymore!
  • #3,547
  • Jun 14, 2019 5:07am Jun 14, 2019 5:07am
Seems to be a few problems afoot.

At the 108 open what was the hour up to... = Touching the EMA this is a ZOO point is it not?

Now did we have a div entry on the 5 min = yes.

Do we have a target = yes I posted it.

Did the bears find support = yes...I posted that
Attached Image (click to enlarge)
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  • #3,548
  • Jun 14, 2019 5:14am Jun 14, 2019 5:14am
This trade went 42 pips so there is no need to hedge unless you are greedy.

A hedge is only used when our primary trade is failing to make the required pips. Once the hedge is working the primary trade can be taken off and the hedge finishes the job.

We don't have to hedge at all it is just a safer method.
  • #3,549
  • Jun 14, 2019 5:24am Jun 14, 2019 5:24am
Quoting Nala66
This trade went 42 pips so there is no need to hedge unless you are greedy. A hedge is only used when our primary trade is failing to make the required pips. (...)
that's a tough consideration during the trading. What's your opinion on my second and third hedge, Alan? Was the primary trade in a convincing move?
Trading S/R with PA only. No indicators anymore!
  • #3,550
  • Jun 14, 2019 5:28am Jun 14, 2019 5:28am
Quoting Jazz1964
{quote} be sure to take the RSI from here and bring it to the window with the first RSI {image}
Jazz1964, thanks a lot.
I found it)
  • #3,551
  • Jun 14, 2019 5:37am Jun 14, 2019 5:37am
Quoting Jazz1964
{quote} that's a tough consideration during the trading. What's your opinion on my second and third hedge, Alan? Was the primary trade in a convincing move?
Good question and about time we got one.

If we are trading below the average any long can only be potentially a scalp or a hedge. Now if this does not cross the EMA we close it for whatever pips it makes and rely on the primary trade to continue to do its business.

If we make say 5 pips from a hedge we can shorted the primary target by that same 5 pips to achieve our aim.

So it makes sense to take hedges when one has the skill to do so.

I am not really interested in the skilled people so much as getting those less experienced up to speed with the programme.

If I can help then I am happy to do so. I also appreciate all the help I can get in respect of what I have outlined.

Nice trading Jazz...well done
  • #3,552
  • Jun 14, 2019 5:41am Jun 14, 2019 5:41am
When we look at this chart it shows the action much more clearly
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 30 KB
  • #3,553
  • Jun 14, 2019 5:43am Jun 14, 2019 5:43am
Quoting Nala66
When we look at this chart it shows the action much more clearly {image}
I always have a screen with the M1 M5 H1 H4 white charts. Makes trading more clear for sure.
Trading S/R with PA only. No indicators anymore!
  • #3,554
  • Jun 14, 2019 5:43am Jun 14, 2019 5:43am
I don't see any bull divergence on the hour so no reason yet to suspect a direction change.
  • #3,555
  • Jun 14, 2019 5:44am Jun 14, 2019 5:44am
There you go guys, listen to Jazz he has it nailed
  • #3,556
  • Jun 14, 2019 6:11am Jun 14, 2019 6:11am
Now look at the 2631 and question whether it is a ZOO point or not... Was there a Div on the 5 min?

This would be a good place to hedge i.e. at a zoo and in div.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 87 KB
  • #3,557
  • Jun 14, 2019 6:13am Jun 14, 2019 6:13am
Quoting Nala66
{quote} Good question and about time we got one. If we are trading below the average any long can only be potentially a scalp or a hedge. Now if this does not cross the EMA we close it for whatever pips it makes and rely on the primary trade to continue to do its business. If we make say 5 pips from a hedge we can shorted the primary target by that same 5 pips to achieve our aim. So it makes sense to take hedges when one has the skill to do so. I am not really interested in the skilled people so much as getting those less experienced up to speed...
Close it if cross EMA on M5, right Alan?
  • #3,558
  • Jun 14, 2019 6:13am Jun 14, 2019 6:13am
When would we expect this hedge to end... When it runs into a bear div
  • #3,559
  • Jun 14, 2019 6:15am Jun 14, 2019 6:15am
Can someone attempt to draw the ABCD on the 1 hour chart?
  • #3,560
  • Jun 14, 2019 6:20am Jun 14, 2019 6:20am
We also have an AB = CD down to 2616
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