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Trading the Cable swings via averages

  • #3,601
  • Jun 17, 2019 7:15am Jun 17, 2019 7:15am
Easy to agree on that. Just that these days we cannot expect the 40 pips move from the start of the thread.
40 pips a day, it's there but often not in one move. And 20 to 30 pips is terrific too.
Trading S/R with PA only. No indicators anymore!
  • #3,602
  • Edited 8:18am Jun 17, 2019 7:57am | Edited 8:18am
yes i have been trading this pair only for 2 years!!!! plenty of money, u can take a 25 pip trade and turn it into 50-75 pips... plus u dont need trades daily to make good money. just my thoughts... 1 pair can make u as much as you want
  • #3,603
  • Jun 17, 2019 10:17am Jun 17, 2019 10:17am
My bonus trade of the day:

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H1 had div between the RSI's at the EMA touch
M5 also divergence there.
That ZOO worked out.

I wonder if you can agree on the green target lines I drew sir.
Trading S/R with PA only. No indicators anymore!
  • #3,604
  • Jun 17, 2019 10:18am Jun 17, 2019 10:18am
H4 EMA heading to a new LL
Trading S/R with PA only. No indicators anymore!
  • #3,605
  • Jun 17, 2019 10:40am Jun 17, 2019 10:40am
hey jazz same trade i took, loving this new strategy.... ill be posting some pics to soon
  • #3,606
  • Jun 17, 2019 2:07pm Jun 17, 2019 2:07pm
Is this going to be a return? should be we cautious when shorting in small timeframe?
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  • #3,607
  • Jun 18, 2019 12:31am Jun 18, 2019 12:31am
Quoting luckyvictor
Is this going to be a return? should be we cautious when shorting in small timeframe? {image}
Sure. That H1 div can bring price back to the EMA. On M5 starting from a div, price has found bull support. Currently forming bear div.
That's just below the EMA 1.2539
I'll wait a bit to get more to bar108

I just noticed you wrote that 10 hours ago. That's not the time I want to trade.
Trading S/R with PA only. No indicators anymore!
  • #3,608
  • Jun 18, 2019 12:44am Jun 18, 2019 12:44am
Quoting Jazz1964
{quote} Sure. That H1 div can bring price back to the EMA. On M5 starting from a div, price has found bull support. Currently forming bear div. That's just below the EMA 1.2539 I'll wait a bit to get more to bar108 I just noticed you wrote that 10 hours ago. That's not the time I want to trade.
H1 clear Div after LL
H4 made new LL and is showing DIV
Daily chart also in Div a very close to also break and make LL
There is a big open space down there to drop to hell but looks like price is being hold and showing reversal signal right?
Back to h4 ema will bring it around 1.2615
Back to h1 ema is 1.255 let see if they attack the ema and found support...
For me not clear now to take a trade
  • #3,609
  • Jun 18, 2019 12:48am Jun 18, 2019 12:48am
Quoting Jazz1964
{quote} Sure. That H1 div can bring price back to the EMA. On M5 starting from a div, price has found bull support. Currently forming bear div. That's just below the EMA 1.2539 I'll wait a bit to get more to bar108 I just noticed you wrote that 10 hours ago. That's not the time I want to trade.
Yes, is quite "old", I do my practice every night (uk time).

One thing that I am sure is, let say in this scenario, h1 has bullish divergence, when trading in 5M, should short be our primary trade or hedge?
  • #3,610
  • Jun 18, 2019 4:50am Jun 18, 2019 4:50am
Okay I am off for now.
I have to say this tight market is still okay to trade. Just keep focused.
I had several trades overall for BE, but then went short at 2540 on H1 bear div and M5 bear HD.
That worked, 2nd position, then I missed the H1 bull HD with M1 bull div.
That should have been the exit. Did a hedge but I didn't trade that well enough. Could have grabbed 30 pips (19 + 11).
Tiny profit today, maybe I'll be back before the US session.
Trading S/R with PA only. No indicators anymore!
  • #3,611
  • Jun 18, 2019 5:11am Jun 18, 2019 5:11am
hi jazz1964. just joined the forexfactory so that i can post in this forum, i have read the whole thread and grasped what allen has told, only bit i am strugling where to put the stop loss. if you can post a chart with the short entry you take today as well where was the stop loss that will be very helpful.
thank you
  • #3,612
  • Jun 18, 2019 6:03am Jun 18, 2019 6:03am
Quoting david321
hi jazz1964. just joined the forexfactory so that i can post in this forum, i have read the whole thread and grasped what allen has told, only bit i am strugling where to put the stop loss. if you can post a chart with the short entry you take today as well where was the stop loss that will be very helpful. thank you
Hi David, welcome.
When the trade works out, it should not make a HH or LL price against. Meaning the stops should be just above the HH or below the LL level. That's for the initial trade when you just enter.
Then when the trade is evolving like we want in favor, then we move the stop to BE. Yes it will get hit often, just accept it to cover your risk.
When we have a runner, we move our stop to secure profits.
Alan can correct/complement

Attached Image
Trading S/R with PA only. No indicators anymore!
  • #3,613
  • Jun 18, 2019 6:19am Jun 18, 2019 6:19am
thank you jazz for posting the chart. that clarify a lot, so you move the stop loss to breakeven as soon as you can. i was having difficulty in putting the stoploss and then moving it to breakeven which was causing me to loss more trades, this will surely help a lot
one more thing do you wait for a bear candle in bear divergence and a bull candle in bull divergence.
  • #3,614
  • Jun 18, 2019 7:14am Jun 18, 2019 7:14am
Quoting david321
... one more thing do you wait for a bear candle in bear divergence and a bull candle in bull divergence.
I don't have an unambiguously answer on that. Sometimes I want to see a bar closed in my favored direction, but often enough I take it earlier to get the trade on as soon as possible, to get the stop tight and the target quicker.
Again, Alan may want to edit here.
Trading S/R with PA only. No indicators anymore!
  • #3,615
  • Jun 18, 2019 7:47am Jun 18, 2019 7:47am
Maybe it is good to discuss the BE exit if you want to shine your light on this, Alan.
I sometimes doubt the relevance of that since it totally depends on the entry itself. Sure we got to get our trade on at a good price.
But is a trade wrong when we tend to run into negative territory (after being in profit first)?
Or is a trade only then wrong when from chart perspective it is getting wrong?
Trading S/R with PA only. No indicators anymore!
  • #3,616
  • Jun 18, 2019 8:03am Jun 18, 2019 8:03am
Quoting Jazz1964
Maybe it is good to discuss the BE exit if you want to shine your light on this, Alan. I sometimes doubt the relevance of that since it totally depends on the entry itself. Sure we got to get our trade on at a good price. But is a trade wrong when we tend to run into negative territory (after being in profit first)? Or is a trade only then wrong when from chart perspective it is getting wrong?
yeah probably for me when to move to BE to dont get stopped out and then see the trade in ur favor or where to hedge is what is being the toughest stuff to manage, maybe this just come with experience and hours of charts
  • #3,617
  • Jun 18, 2019 8:31am Jun 18, 2019 8:31am
i am having mixed result so far, mostly i think i am entring late and when trade goes 2 3 pips against me i start to panic as i have not used bigger lots in past.
so many times when trade start moving in the plus after going negative sometime , i tend to close it early fearing it will go negative again. it is the fear of loss which is stoping me from doing progress. can anyone help me how to overcome it
  • #3,618
  • Jun 18, 2019 9:28am Jun 18, 2019 9:28am
Quoting david321
i am having mixed result so far, mostly i think i am entring late and when trade goes 2 3 pips against me i start to panic as i have not used bigger lots in past. so many times when trade start moving in the plus after going negative sometime , i tend to close it early fearing it will go negative again. it is the fear of loss which is stoping me from doing progress. can anyone help me how to overcome it
Start trading 0.01 lots with one position on a real account. I suggest the 2nd and 3rd entry are for later on. Especially the 3rd.
And make many kilometers before you go to 0.02 lots.
Read the thread and/or the pdf so many times that you can dream it.
Only start with slowly increasing lot size when you trade well.
Trading S/R with PA only. No indicators anymore!
  • #3,619
  • Jun 18, 2019 9:31am Jun 18, 2019 9:31am
yes i think you are right, i am trading live , i only need to do it slow with minimum lots until i master it . thank you for your advice.
i have request for you and other experienced traders , please post your charts often with the divergence and your entry so that we can match our charts with
them and learn from it
  • #3,620
  • Jun 18, 2019 1:44pm Jun 18, 2019 1:44pm
Quoting Jazz1964
{quote} Read the thread and/or the pdf so many times that you can dream it.
Hi Jazz1964!
Where could I find the PDF file?
Thank you
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