Trading the Cable swings via averages

Quoting Nala66

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Here is the open today... On the hour we see a HD with a target level above. On the 5 min we see an RSI div and we are low on the RSI. Now you enter on the 5 min with your first trade with a ten pip stop. Even if you do get stopped out it is for peanuts. {image}

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Quoting luckyvictor

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{quote} Missed the HD, still finding difficult, need more experience. So actually, am I right to say that any long opportunity at the moment is hedge/scalp? We are still shorting primary?

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Quoting Nala66

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{quote} On which time frame are you referring because I see a div to short the 5 min....I just closed it.

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Quoting Nala66

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I am trying to get the point across for the Money management and Hope this drawing I just did helps. See how the 1,2,3, entry is the safest way we can get in but this does not always turn out to be the primary paying trade. A signal at the top causes us to hedge. The hedge is a safety net it doesn't matter which way price goes we have locked in the profit. So we are safe again. Hopefully as shown in the drawing price moves down so we can add to our hedge because all our funds are freed up to do so. We close the longs with a TP stop. We may now hedge...

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Quoting Nala66

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{quote} How many times do I have to say immediately. I am watching and seeing this looks like it is going to close in a div...waiting, waiting YES! CLICK I am in

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Quoting fxpractice

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{quote} Hi Alan! All this happens only after seeing the signal on the H1 timeframe, right? J just want to be sure and I mean the fist entry only. Because for the further entries 5 min or 1 min signal is enough. Is that correct? I apologize for repeating if the question has already been asked.

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Quoting Jazz1964

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Let me put some volume in the market so it starts moving

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Quoting Nala66

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See the hook.. Often the best trade of the session. {image}

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Quoting Nala66

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That was the signal and here is the entry {image}

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Quoting Nala66

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I am trying to get the point across for the Money management and Hope this drawing I just did helps. See how the 1,2,3, entry is the safest...{image}

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Quoting Nala66

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That was the signal and here is the entry {image}

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Quoting luckyvictor

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{quote} How can we catch this one live? Do we constantly looking at M1? Because looking at M5, rsi was still traveling south, how do we expect a bull div might form?

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Quoting Nala66

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{quote} I just looked up that you are in the UK so you understand soccer hey! If a player is offside the ref blows the whistle irrespective of whether the player was running towards the goal. It is exactly the same thing with the div, in this case an RSI div. We can see it is offside and closes in that position so click we blow the whistle. It may well run a tad further but ten pips is a long way. In this case it ran 2 pips and was still in div, then the div kicked in. That is why we have a very small 1st entry so we risk very little.

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