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Trading the Cable swings via averages

  • #4,281
  • Jul 24, 2019 3:04am Jul 24, 2019 3:04am
This is weird... That down bar hitting the ABCD has disappeared?
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  • #4,282
  • Jul 24, 2019 3:14am Jul 24, 2019 3:14am
Quoting Nala66
This is weird... That down bar hitting the ABCD has disappeared? {image}
Hey Mr Alan.
Im back from holidays so i will be back here as usual...
At my chart it end up in a big HD with a wick wich was also at ur D target
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m5 at that time also stopped at an old ema level with RSI and Regular Div so i guess it was good chance for scalp long wich is looking now like the trade of the day...
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Im still removing the dust from my mind after vacations so dont know if my analysis is correct...
  • #4,283
  • Jul 24, 2019 3:17am Jul 24, 2019 3:17am
Now it looks like the 1H is targeting the opposite side
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  • #4,284
  • Jul 24, 2019 3:19am Jul 24, 2019 3:19am
Quoting witowito
{quote} Hey Mr Alan. Im back from holidays so i will be back here as usual... At my chart it end up in a big HD with a wick wich was also at ur D target{image} m5 at that time also stopped at an old ema level with RSI and Regular Div so i guess it was good chance for scalp long wich is looking now like the trade of the day... {image} Im still removing the dust from my mind after vacations so dont know if my analysis is correct...
Yep clearly your chart also shows a hit of D
  • #4,285
  • Jul 24, 2019 3:32am Jul 24, 2019 3:32am
Well I don't know, it failed on the 5M to reach the D target running into an reg bear div and an RSI div to boot.
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  • #4,286
  • Jul 24, 2019 3:38am Jul 24, 2019 3:38am
Now we have the Hook on the 5m
  • #4,287
  • Jul 24, 2019 3:50am Jul 24, 2019 3:50am
And yet another RSI div to take it back up? Perhaps the next 4 hour bar will be clearer and cleaner
  • #4,288
  • Jul 24, 2019 3:56am Jul 24, 2019 3:56am
My thoughts on this are the 4H was just stalling holding out until the end of its bar time. The D target has been hit now.
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  • #4,289
  • Jul 24, 2019 4:00am Jul 24, 2019 4:00am
The 30M chart has a slightly higher target as we have entered into the range.
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  • #4,290
  • Jul 24, 2019 4:32am Jul 24, 2019 4:32am
So the average on the hour failed to make B so with the impulse bar to the long side we should see price get back to A
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  • #4,291
  • Jul 24, 2019 5:09am Jul 24, 2019 5:09am
Quoting Nala66
So the average on the hour failed to make B so with the impulse bar to the long side we should see price get back to A {image}
My H1 looking like this.(i hope its drawn carrectly)
There are many H1 div and based also on Fast RSI way too up 50% of abcd could be a ZOO point for a retracement isnt it?
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m5 ema levels with div already holding price and sending it back to test ema i can see
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  • #4,292
  • Jul 24, 2019 5:56am Jul 24, 2019 5:56am
IT just rally straghit away to target... no pullback no nothing ...lol
  • #4,293
  • Jul 24, 2019 5:58am Jul 24, 2019 5:58am
Quoting witowito
{quote} My H1 looking like this.(i hope its drawn carrectly) There are many H1 div and based also on Fast RSI way too up 50% of abcd could be a ZOO point for a retracement isnt it?{image} m5 ema levels with div already holding price and sending it back to test ema i can see{image}
On my chart your A point was not a pivot so I have the one before that making the target a tad bigger.

Ha while I am typing it just hit it.
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  • #4,294
  • Jul 24, 2019 6:00am Jul 24, 2019 6:00am
So there we go, the failure of B lead to the success of A without even stopping for a support.
  • #4,295
  • Jul 24, 2019 6:04am Jul 24, 2019 6:04am
Now while we are here loooook carefully at the 1H chart.

Price has climbed above the EMA swing so it cannot possibly find another ABCD here because both sides are on the same side of the EMA.

That is not to say they can't meet with divergence just not the ABCD type.

So the blue line here is just a regular divergence
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  • #4,296
  • Jul 24, 2019 6:49am Jul 24, 2019 6:49am
Quoting Nala66
Here is the terminal. You see Polly is perfectly on track to make the target for the end of the month without even breaking into a sweat. {image}
I wanted to know how is Polly doing if u still managing ^ her account^

I read about this challenge when i was at holidays and found it very interesting cause market have been hard lately (maybe just for me) so i was wondering how ^she^ will perform...
  • #4,297
  • Jul 24, 2019 7:19am Jul 24, 2019 7:19am
We need to see the bulls hold onto this and find support.
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  • #4,298
  • Jul 24, 2019 7:23am Jul 24, 2019 7:23am
Quoting witowito
{quote} I wanted to know how is Polly doing if u still managing ^ her account^ I read about this challenge when i was at holidays and found it very interesting cause market have been hard lately (maybe just for me) so i was wondering how ^she^ will perform...
Well in real life I have not been able to catch up with her to see if she is going to trade or not so I have stopped trading that account for now and will restart if she takes it up.
  • #4,299
  • Jul 24, 2019 8:43am Jul 24, 2019 8:43am
Quoting Nala66
{quote} This is a great illustration of practical trading all should take note of. Well done. We see from this chart the trend was down so loading began at the hidden div in the long (wrong) direction. Since it was a short distance to A we would probably only get two trades on. These two trades are hedge at A in the short (trending) direction and the shorts are closed for a profit which would pay for the hedge stop if that had happened.(it didn't so we are all good in the short direction now) The Hook would have given the opportunity to place the...
Hi Alan

What RSI div is there at C please?
  • #4,300
  • Jul 24, 2019 11:26am Jul 24, 2019 11:26am
Quoting luckyvictor
{quote} Hi Alan What RSI div is there at C please?
I think from what i see and read that there is an AB=CD pattern wich is a retracment of 50% +- a box... so u aim for that target...
No Div need it in this scenario from what i remember from PDF
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