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Trading the Cable swings via averages

  • #3,661
  • Jun 20, 2019 2:43am Jun 20, 2019 2:43am
Quoting witowito
bull looking for support after testing the ema and failing with bulls div...{image} Dangerous cause also bear div... dont know if i should hedge at D...
great entry Wito, i was completely wrong focussing on a short setup, keep doing that over and over again
  • #3,662
  • Jun 20, 2019 2:50am Jun 20, 2019 2:50am
Quoting huskyboy
{quote} great entry Wito, i was completely wrong focussing on a short setup, keep doing that over and over again
Proably i should not hedge or close my long at least until H1 swing 1.2725/27 ...
I close hedge with small lost and then used 2 bar setup to close longs...
Not big profits but at least moving forward... lets see if later there is more pips to achive the daily target
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Its full of bears Div which price is ignoring... magnets to h1 target i guess
  • #3,663
  • Jun 20, 2019 3:30am Jun 20, 2019 3:30am
Quoting david321
{quote} witowito i am curious why you buy at that point as bull divergence came a little later, can you specify what you was looking at that time before entreing the buy trade
Maybe i just got lucky in this one but i saw this at the EMA so it worth a try, i almost got stopped out at london open but then it moves in my direction nicely.
I should add at the bulls support also but this will come with experience... I hope it helps
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I am at very beginning with this method so dont take me as an example just wait for alan or some old members who knows what they are doing to confirm u my thoughts...
  • #3,664
  • Jun 20, 2019 3:36am Jun 20, 2019 3:36am
yes any thing new to learn will help witowito, i too took first a short entry but later seeing the bull divergence i took long but closed it after recovring the loss from short trade.
as i am just focusing on finding the trades and try to live trade these
  • #3,665
  • Jun 20, 2019 4:21am Jun 20, 2019 4:21am
Well price has hit the 2727 (again) This time it looks like it may push through as it holds to allow the average to take on the 2692 swing level.
  • #3,666
  • Jun 20, 2019 4:36am Jun 20, 2019 4:36am
2785 looks like a good number now.
  • #3,667
  • Jun 20, 2019 4:40am Jun 20, 2019 4:40am
I target for 1.2747 first
H1 small EMA wobble
Trading S/R with PA only. No indicators anymore!
  • #3,668
  • Jun 20, 2019 4:48am Jun 20, 2019 4:48am
The 4H chart looks like it needs a pull back. Not found support yet.
  • #3,669
  • Jun 20, 2019 5:16am Jun 20, 2019 5:16am
Quoting Nala66
The 4H chart looks like it needs a pull back. Not found support yet.
Hi Nala!

This two bars doesn't mean that bulls found support on H4?

Thank you.
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  • #3,670
  • Jun 20, 2019 5:54am Jun 20, 2019 5:54am
Quoting fxpractice
{quote} Hi Nala! This two bars doesn't mean that bulls found support on H4? Thank you. {image}
U can check at PDF page 31 till 36...
There are lots of examples there.
I copy a link where to download it since it has been asked over and over lately :
https://mega.nz/#!ZLhQhSqb!Jtv0DAuBL...yoMwijcYBPAIyw

I hope it helps
  • #3,671
  • Jun 20, 2019 6:05am Jun 20, 2019 6:05am
The 240m chart has always caused problems in that there are different four hour start and finish times. My last 240m candle came at 08:00hrs (the London open) this morning. It has just closed at 12:00hrs and just started a new one. This is my chart and it tells me we have already had bullish support.
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  • #3,672
  • Jun 20, 2019 7:23am Jun 20, 2019 7:23am
Quoting fxpractice
{quote} Hi Nala! This two bars doesn't mean that bulls found support on H4? Thank you. {image}
No it has to be a pull back bar that fails to close across the EMA
  • #3,673
  • Jun 20, 2019 7:27am Jun 20, 2019 7:27am
Quoting mayflower
The 240m chart has always caused problems in that there are different four hour start and finish times. My last 240m candle came at 08:00hrs (the London open) this morning. It has just closed at 12:00hrs and just started a new one. This is my chart and it tells me we have already had bullish support. {image}
Yep very different. But look at how mine turned exactly on the average swing point.
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  • #3,674
  • Jun 20, 2019 6:51pm Jun 20, 2019 6:51pm
Well as suspected yesterday was just a holding pattern allowing the EMA to catch up a tad to price as it heads for the 2692. It should break through this swing during the Asian session today.

I still have 2785 as a potential target which takes price up into the wide open space the bears have been protecting for some time now. Still no indication for a short trade and I suspect at 108 we should see it going north a tad. This means we buy the 5 min dips.
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  • #3,675
  • Jun 20, 2019 7:52pm Jun 20, 2019 7:52pm
Now back to Polly.

It is vital for newbie traders to keep their money under total control. So many lose their first, 2nd, 3rd and so on accounts because they are simply out of control. It may seem like small potatoes initially but the idea is to develop discipline at this stage of the game not fast bucks.

Recall newbie Polly has $500 and during month 1 has to make $28 a day.

What happens if only $20 is made on day 1. Most would try to make it up the next day and immediately they are out of control as they chase losses.

The correct thing to do is to divide the deficit by the number of days left in the month because this is the bottom line target. This makes the deficit very tiny and a much safer to trade for. About an additional 42c a day.

What if Polly doesn't make a profit at all and actually loses $10. Again divide by the days left in the month which would increase the daily target by about 52 cents.

The third scenario is that Polly makes a killing and goes $10 over the daily target. This would reduce the following days in the month by about 42 cents.

Keeping everything under control with low risk relative to the size of the account is the tortoise and the hare situation.

One can almost guarantee that a spectacular win will crop up at some stage during the month, we live for those days or should I say survive until they arrive.

This is what the three scenarios would look like.
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  • #3,676
  • Jun 21, 2019 1:37am Jun 21, 2019 1:37am
Quoting Nala66
...The correct thing to do is to divide the deficit by the number of days left in the month because this is the bottom line target. This makes the deficit very tiny and a much safer to trade for. .... {image}
Terrific MM and a clean path to get the monthly target reached. Thank you!
Trading S/R with PA only. No indicators anymore!
  • #3,677
  • Jun 21, 2019 1:58am Jun 21, 2019 1:58am
Quoting Nala66
Well as suspected yesterday was just a holding pattern allowing the EMA to catch up a tad to price as it heads for the 2692. It should break through this swing during the Asian session today. I still have 2785 as a potential target which takes price up into the wide open space the bears have been protecting for some time now. Still no indication for a short trade and I suspect at 108 we should see it going north a tad. This means we buy the 5 min dips. {image}
Why don't we treat this as bearish div signal (in attached) please?
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  • #3,678
  • Jun 21, 2019 4:03am Jun 21, 2019 4:03am
39 pips done. 33 from a short and 6 from a hedge. Enjoy the weekend all!
Trading S/R with PA only. No indicators anymore!
  • #3,679
  • Jun 21, 2019 6:30am Jun 21, 2019 6:30am
Ideally you want to trade in the direction of the trend. The 1h bulls found support so we are looking for longs on the 5m dips. Any divergence is a scalp back to the ema or a hedge on any open long trades. There were a 5 divergences that didn't do anything which tells me that its a strong bull market at that time and price was dragging the ema up to the 2692 ema hump target. The daily was also bull divergence so we can't be surprised that the divergences didn't do anything on the lower time frames IMO.
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  • #3,680
  • Jun 21, 2019 6:31am Jun 21, 2019 6:31am
Quoting luckyvictor
{quote} Why don't we treat this as bearish div signal (in attached) please? {image}
See above
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