Trading the Cable swings via averages

Quoting fxpractice

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{quote} Hi Alan. Could we say that average is currently sandwiched between its Hi and Low? And it has to beat one of two levels and find support to continue to appropriate direction? Thank you {image}

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Quoting luckyvictor

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{quote} by delay I mean a confirmation of the peak or trough. For example this morning, I was actually watching the market, and on the M5, I got the feeling the area where I circle can be a trough, but only when the trough was made, i know it is not travelling further down to south, so I end up entering at around 1.26750. In the bar that I put the arrow. How can I improve on entering please? {image}

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Quoting Nala66

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{quote} Why did you wait so long? Why are you taking the entry based just on the 5min chart? What was your ZOO point to influence your decision? What is your money management system? If you wait so long for the entry you run the risk of being stopped out by the hook which is a retest of the div. I spoke of this earlier today,

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Quoting luckyvictor

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{quote} Thanks for your question

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Quoting Nala66

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{quote} Well this all sounds fine to me and you seem to be getting a handle on the thinking process. All you need to do is practice a tad and not be afraid of losing a little when the rewards are so great. Well done....

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Quoting luckyvictor

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{quote} Really?I was expecting something in my current method could be wrong. May I have another question please? 26 EMA and 14 RSI, how do we combine the information from both of them to give us a better edge to trade the next move? For example, when price is raising above the 26 EMA, we see rsi is above 50, and vice versa, but really we dont need the 26 EMA to show us the duplicate info. So am I missing some other important message from the use of them?

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Quoting Nala66

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{quote} That is correct but without the EMA it would be difficult to tell if the average is making HHs or LLs. Also it is these swing highs and swing lows that give us the potential targets for price to hit. See here on the 1 min chart how it ran to the 5min swing level. At that point it was way down in the dumps on the RSI so we would expect a bounce there. {image}

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Quoting 4xtrader41

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here are a few trades i took, Personally i am a 1 minute trader, so the 2nd picture attached was my NY trade did about 70 pips with my stack {image} {image}

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Quoting luckyvictor

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{quote} I saw this and I traded this as well, but I didn't get that far, I exited at the beginning of the flag, in M1, it is where you have the first bull div (on your graph it is above the text Jun 16:43, sorry was on my mobile so could not take pic) How do you have the confidence to keep it running please? This is the mindset I am lacking

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Quoting 4xtrader41

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{quote} I’ve been training for about 6 years Once I enter my trade it’s managed from a higher timeframe i.e. 5 minute Also once I’m up a little bit I place my stops at breakeven and honestly a lot of times, I watch YouTube take my mind off things, also price never broke the 78EMA allowing it to keep going down Yes but not least patients trades always go where you believe they will go after you exit the trade patience is needed in this game

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Quoting luckyvictor

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{quote} May I just understand your method is, set the target, and forget it? Even force yourself out from the environment so that you don't keep watching it and let your pre-decision ( set TP SL) to work?

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Quoting Nala66

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Here is an example of the hook, you can see late entries are exposed to it. {image}

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Quoting huskyboy

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{quote} could someone pls point out the hook? Thx

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Quoting huskyboy

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{quote} could someone pls point out the hook? Thx

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Quoting 4xtrader41

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{quote} What do u mean it’s labeled in the picture ?? It’s like a divergent W

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