Trading the Cable swings via averages | Page 186 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Identifying Market Swings - Medium and Long Term Trading 619 replies

Trading With Moving Averages 72 replies

Moving Averages Zone Trading 10 replies

HELP! GMMA (Guppy's Multi-Moving Averages) Trading Mehod 3 replies

Via indicator: trading xxxyyy via zzz 0 replies

Attachments: Trading the Cable swings via averages
Exit Attachments

Trading the Cable swings via averages

  • #3,701
  • Jun 24, 2019 10:02am Jun 24, 2019 10:02am
Quoting luckyvictor
{quote} From your example, i think I can imagine the HD. The first, second and third one, the price would have made a LL but the price has snapped back, so it didn't go the opposite direction to the RSI. For the forth one, same reason but change the side, price didnt have the change to make HH but snapped back, otherwise it would look like a regular divergence. So in all these cases, does it mean we can just trade with the direction of the RSI? i.e the first to third, RSI is stepping up, so we except price to go up. and vice versa for the forth...
For the life of me cannot see where you have a problem with the of HDs.

The RSI is a strength indicator, price is attempting a move but has no strength. No strength means weakness the market buys or sells these weaknesses depending whether they are bullish or bearish weaknesses.

Here two more have been added...
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 59 KB
  • #3,702
  • Jun 24, 2019 11:20am Jun 24, 2019 11:20am
Quoting Nala66
{quote} For the life of me cannot see where you have a problem with the of HDs. The RSI is a strength indicator, price is attempting a move but has no strength. No strength means weakness the market buys or sells these weaknesses depending whether they are bullish or bearish weaknesses. Here two more have been added... {image}
What is the period of your yellow MA? It doesn't look like H1 26EMA reflected on M5
  • #3,703
  • Jun 24, 2019 3:45pm Jun 24, 2019 3:45pm
Quoting Nala66
Back to the money management. We may well ask Polly why trading with a $500 account only about 70 cents per pip is put on the line when the account can afford a standard lot being $10 a pip. ....
I read and repeat these posts with great interest! Thank you!
Just one question... who is Polly?
Trading S/R with PA only. No indicators anymore!
  • #3,704
  • Jun 24, 2019 7:18pm Jun 24, 2019 7:18pm
Quoting Jazz1964
{quote} I read and repeat these posts with great interest! Thank you! Just one question... who is Polly?
Polly is simply someone who is trying to learn this parrot fashion. (couldn't find a parrot)
  • #3,705
  • Jun 24, 2019 7:22pm Jun 24, 2019 7:22pm
Quoting luckyvictor
{quote} What is the period of your yellow MA? It doesn't look like H1 26EMA reflected on M5
That is because it isn't the 1 hour it is the next chart up i.e. 15min (78 periods) 15/5x26= 78
  • #3,706
  • Jun 24, 2019 11:54pm Jun 24, 2019 11:54pm
As we approach the open one would think surely today is the day the bulls crack the 2746 average as it struggles to make it in any sort of a hurry.

The 2785 price target is still looming above.

The RSI div has failed to make it back to the EMA so I am expecting a HH.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 70 KB
  • #3,707
  • Edited 1:45am Jun 25, 2019 1:01am | Edited 1:45am
Quoting Nala66
As we approach the open one would think surely today is the day the bulls crack the 2746 average as it struggles to make it in any sort of a hurry. The 2785 price target is still looming above. The RSI div has failed to make it back to the EMA so I am expecting a HH. {image}
rsi crossing each other, rsi 14 showing weakness, it cannot bring the price to ema at now, will it actually have a long term effect? Also looking at H4, there is also a bear div, price to rise 14, do we take this inference and expect the price to go to 2693?
  • #3,708
  • Edited 1:29am Jun 25, 2019 1:15am | Edited 1:29am
M5 bear div brought price quite close back to H1 EMA, <2 pips in between
with M5 bull div going up now, no M5 bear support
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 65 KB
Trading S/R with PA only. No indicators anymore!
  • #3,709
  • Jun 25, 2019 1:57am Jun 25, 2019 1:57am
Quoting Nala66
{quote} For the life of me cannot see where you have a problem with the of HDs. The RSI is a strength indicator, price is attempting a move but has no strength. No strength means weakness the market buys or sells these weaknesses depending whether they are bullish or bearish weaknesses. Here two more have been added... {image}
This simple and clear explanation put a lot in its place in my head.
Thank you very much
  • #3,710
  • Jun 25, 2019 1:59am Jun 25, 2019 1:59am
hi jazz1964 , almost entered same trade as yours , started trailing and get out at 16 pips as market hit my trailing stop. i guess i was trailing too close, have to give some room to it, i have gotten only first entry , what about you. have you got the second entry. as that is still tricky for me
  • #3,711
  • Jun 25, 2019 2:03am Jun 25, 2019 2:03am
I just closed that as it closed just shy of the target. Couldn't be bothered with the odd pip or so.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 69 KB
  • #3,712
  • Jun 25, 2019 2:35am Jun 25, 2019 2:35am
This is the actual math way of doing this and since it has not been there yet I would expect a HH

The 2746 average looks set to be busted at last.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 74 KB
  • #3,713
  • Jun 25, 2019 3:07am Jun 25, 2019 3:07am
I think London got the job done quickly so they can nip down to the pub.

Price is bouncing along the 5 min support
  • #3,714
  • Jun 25, 2019 4:28pm Jun 25, 2019 4:28pm
Quoting david321
hi jazz1964 , almost entered same trade as yours , started trailing and get out at 16 pips as market hit my trailing stop. i guess i was trailing too close, have to give some room to it, i have gotten only first entry , what about you. have you got the second entry. as that is still tricky for me
I am sorry I missed your post. Sometimes I got the idea that updating the forum on my side is a bit messy or delayed.
Yes I was in with 2 positions. Right after the M5 bull test I took the 2nd at the 2 bar break.
Trading S/R with PA only. No indicators anymore!
  • #3,715
  • Jun 25, 2019 4:32pm Jun 25, 2019 4:32pm
Hi Alan

How do we trade today's chart? I am doing revision, working with your method, but I don't really see any signal (I guess I am just looking for div but don't see any).
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 52 KB
  • #3,716
  • Jun 25, 2019 8:03pm Jun 25, 2019 8:03pm
Quoting luckyvictor
Hi Alan How do we trade today's chart? I am doing revision, working with your method, but I don't really see any signal (I guess I am just looking for div but don't see any). {image}
Today for me was following the trend down using continuation divergence as marked on my chart.

Cheers Paul
Attached Image (click to enlarge)
Click to Enlarge Name: MetaTrader - AxiTrader (2).png Size: 65 KB
  • #3,717
  • Jun 25, 2019 8:26pm Jun 25, 2019 8:26pm
For me I went long at the 108 and closed at the 1H target where is was also a bear div. Could have taken a short there but I was done for the day.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 104 KB
  • #3,718
  • Jun 25, 2019 8:31pm Jun 25, 2019 8:31pm
Well that was a surprise yesterday again the bulls failed to take out the 2746 turn and attacked the opposite side which it hit.

It seems they just don't want the bulls to get into that big empty space.

Where do we go from here? Well I await the 108 and see what crops up.
  • #3,719
  • Jun 25, 2019 8:41pm Jun 25, 2019 8:41pm
Quoting luckyvictor
Hi Alan How do we trade today's chart? I am doing revision, working with your method, but I don't really see any signal (I guess I am just looking for div but don't see any). {image}
I don't see your 108 time line.

You have high and low averages on the price making it difficult to see the closes. You only need 1 single SMA at 1 period set to close and this will superimpose a line chart.
  • #3,720
  • Jun 25, 2019 8:41pm Jun 25, 2019 8:41pm
Alan, I'm a long-time lurker, first-time poster. I wanted to say thank you very much for the time and care you've taken to outline your trading system. Reading through the thread, it's very obvious you've honed your craft over many years of experience and success.

I did have one fairly straight-forward question -- and please forgive me if this has already been addressed in a previous post -- but at what point do you actually execute a trade order? For example, after seeing the appropriate divergence printed, do you then wait for some form of candle confirmation (e.g. a doji) or for price to break a previous candle's high/low before actually entering your order/s?

Cheers
4 traders viewing now