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Trading the Cable swings via averages

  • #4,181
  • Jul 16, 2019 8:40am Jul 16, 2019 8:40am
Be very careful taking any longs, it looks like the 1H average is trying for the 24674
  • #4,182
  • Jul 16, 2019 8:16pm Jul 16, 2019 8:16pm
I have posted this before so this just serves as a reminder that the monthly chart is looking at a serious Lower Low
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  • #4,183
  • Jul 17, 2019 3:18am Jul 17, 2019 3:18am
Div on D1, H4, H1 and M15... and then comes this nice HD on M5 to trigger a countertrend entry
Beautiful setup. But there is no guarantee that this will lead to a deeper pullback. But it might. Will watch H1 carefully before deciding further.
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  • #4,184
  • Jul 17, 2019 3:22am Jul 17, 2019 3:22am
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late at screen so missed the first entry, bear RSI/RSI and the retest (hook) around the 108 bar, missed the bear support entry and took the third one, went down and the i saw the bull RSI/RSI M5 so hedged but closed too fast on that retest (and how do you know at that point its a retest?) and stopped out of my short. Renentered short on that bear div M5 and also stooped out. I saw the H1 bull RSI/RSI. Doing something wrong? Comments more than welcome.
  • #4,185
  • Jul 17, 2019 3:42am Jul 17, 2019 3:42am
The trend is very bearish so I was looking for shorts.
108 was the first trade.
Then 25 bars later price tested M5 EMA swing high in div. That's the second trade.
Done.
Trading S/R with PA only. No indicators anymore!
  • #4,186
  • Jul 17, 2019 3:54am Jul 17, 2019 3:54am
Quoting Jazz1964
The trend is very bearish so I was looking for shorts. 108 was the first trade. Then 25 bars later price tested M5 EMA swing high in div. That's the second trade. Done.
great trading, did you ignore the long signal on M5?
  • #4,187
  • Jul 17, 2019 4:16am Jul 17, 2019 4:16am
Quoting huskyboy
{quote} great trading, did you ignore the long signal on M5?
That was my exit. I didn't hedge there, could have done that.
Trading S/R with PA only. No indicators anymore!
  • #4,188
  • Jul 17, 2019 6:48am Jul 17, 2019 6:48am
Hello guys and thanks Alan for the time and effort you put to give us so many useful knowledge.

Does that make any scene?
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  • #4,189
  • Jul 17, 2019 7:44am Jul 17, 2019 7:44am
Quoting fxmars
Div on D1, H4, H1 and M15... and then comes this nice HD on M5 to trigger a countertrend entry Beautiful setup. But there is no guarantee that this will lead to a deeper pullback. But it might. Will watch H1 carefully before deciding further. {image}
Closed for 28 pips. Even though cabel tested and got rejected from the 2-year low at 2380ish, there was no follow through. It might still go higher, but want to close shop for today.
  • #4,190
  • Edited 2:06pm Jul 17, 2019 1:29pm | Edited 2:06pm
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watching this for tomorrow and i believe you can even draw a bigger one
no bull support yet
  • #4,191
  • Jul 17, 2019 2:43pm Jul 17, 2019 2:43pm
Quoting dbb12
Hello guys and thanks Alan for the time and effort you put to give us so many useful knowledge. Does that make any scene? {image}
Sorry, no this is not looking familiar.
Trading S/R with PA only. No indicators anymore!
  • #4,192
  • Jul 17, 2019 8:02pm Jul 17, 2019 8:02pm
The bulls now have support on the Hour chart and it has been tested and is holding... So far
  • #4,193
  • Jul 17, 2019 8:12pm Jul 17, 2019 8:12pm
Based on the southerly direction of the 1 month chart I would expect the bears to break the lower point B before the bulls take out the higher level A.
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  • #4,194
  • Jul 17, 2019 8:26pm Jul 17, 2019 8:26pm
I would be keeping an eye on the 5 min watching for the failures to make HH's and the success of making LL's (averages) at the appropriate time of day (108).

We would then be able to measure the distance left to reach B and set our money accordingly. Hopefully it will be much more than the current 12 pips on the hour.
  • #4,195
  • Jul 17, 2019 8:34pm Jul 17, 2019 8:34pm
For the weekly we can see the average is attempting to take out the 25635 level
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  • #4,196
  • Jul 18, 2019 1:09am Jul 18, 2019 1:09am
Hopefully this is an impulse bar long on the 5 min
  • #4,197
  • Jul 18, 2019 2:03am Jul 18, 2019 2:03am
Is the bear support going to hold? 5min
  • #4,198
  • Jul 18, 2019 2:05am Jul 18, 2019 2:05am
So far so good... Cmon LL
  • #4,199
  • Jul 18, 2019 2:07am Jul 18, 2019 2:07am
A LL now is a break below the 1H EMA
  • #4,200
  • Jul 18, 2019 2:11am Jul 18, 2019 2:11am
Well so far the bull support has failed and the bear support has failed so we are off to a rubbish start
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