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Trading the Cable swings via averages

  • #4,361
  • Aug 1, 2019 5:59am Aug 1, 2019 5:59am
Quoting luckyvictor
{quote} what is the significance of this pivot and actually why is it a pivot please?
The significance is that it is the pivot under attack and was not in divergence. Had the price passed this level then it would have run into divergence (Dashed red line)
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  • #4,362
  • Aug 1, 2019 6:01am Aug 1, 2019 6:01am
Quoting luckyvictor
{quote} what is the significance of this pivot and actually why is it a pivot please?
As to why it was a pivot, well that can easily be seen on my chart because the line chart says it was. A 1 period SMA is exactly the same as a line chart.

See how much harder it is to see these things with candle charts and no SMA
  • #4,363
  • Aug 1, 2019 6:36am Aug 1, 2019 6:36am
Quoting Nala66
{quote} The significance is that it is the pivot under attack and was not in divergence. Had the price passed this level then it would have run into divergence (Dashed red line) {image}
That is why I went for the dashed line on the RSI as there was no clear line of sight with the corresponding previous price pivot.
  • #4,364
  • Aug 1, 2019 7:50am Aug 1, 2019 7:50am
Quoting Nala66
{quote} As to why it was a pivot, well that can easily be seen on my chart because the line chart says it was. A 1 period SMA is exactly the same as a line chart. See how much harder it is to see these things with candle charts and no SMA
Hi Alan

I am sorry for being too stupid to understand this, hopefully i can ask for further clarification.

I would actually look at the 4 bar before your pivot, reason being is the RSI made a peak, and on the price chart, it does look like it is trying to make a high, so I would just draw the ABCD using this information.

And what do you mean by "A 1 period SMA is exactly the same as a line chart", do you mean the close of this candle is the same point as the SMA line? but isnt it a fact because the SMA has only 1 period and calculate using close price?
  • #4,365
  • Aug 1, 2019 4:26pm Aug 1, 2019 4:26pm
Hye Alan,
Can you please post your trades for today and thought process behind them so we could learn from them.
Thanks.
  • #4,366
  • Edited 8:23pm Aug 1, 2019 6:22pm | Edited 8:23pm
Quoting luckyvictor
{quote} Hi Alan I am sorry for being too stupid to understand this, hopefully i can ask for further clarification. I would actually look at the 4 bar before your pivot, reason being is the RSI made a peak, and on the price chart, it does look like it is trying to make a high, so I would just draw the ABCD using this information. And what do you mean by "A 1 period SMA is exactly the same as a line chart", do you mean the close of this candle is the same point as the SMA line? but isnt it a fact because the SMA has only 1 period and calculate using...
Luckyvictor, point A is always the next pivot being "attacked", as Alan would say, or approached by point C.

Point C can be a pivot in the 1SMA, or it can simply be a bar close.

The 1SMA is used to clearly show the pivots in price, like a line chart.

I highly recommend you read the PDFs available in the attachments for this thread.

Cheers
  • #4,367
  • Aug 2, 2019 2:48am Aug 2, 2019 2:48am
Quoting k1w1
{quote} Luckyvictor, point A is always the next pivot being "attacked", as Alan would say, or approached by point C. Point C can be a pivot in the 1SMA, or it can simply be a bar close. The 1SMA is used to clearly show the pivots in price, like a line chart. I highly recommend you read the PDFs available in the attachments for this thread. Cheers
I read through it twice already, but from time to time, I may confuse myself from practical experience or simply forget things, or simply not understanding it correctly.

So to work out point A, we first identify point C, and going back to check the closest price pivot, and claim this one the pivot being attacked, is it correct?
  • #4,368
  • Aug 2, 2019 3:24am Aug 2, 2019 3:24am
Hi guys!

Anyone looking at this short signal? Correct me if I'm wrong please.
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  • #4,369
  • Aug 2, 2019 5:21am Aug 2, 2019 5:21am
Quoting Djinerro
Hi guys! Anyone looking at this short signal? Correct me if I'm wrong please. {image} {image}
I did take that short entry but unfortunately I was only able to take 2 positions and missed the 3rd one because I had to leave my laptop just for few minutes.
  • #4,370
  • Aug 6, 2019 5:22am Aug 6, 2019 5:22am
Quoting haris1211
Hye Alan, Can you please post your trades for today and thought process behind them so we could learn from them. Thanks.
Sorry for the late reply, I am a tad busy with other stuff for the next few weeks. Not much time for any trading other than a few quick scalps.
  • #4,371
  • Aug 7, 2019 1:35am Aug 7, 2019 1:35am
Quoting Nala66
{quote} Sorry for the late reply, I am a tad busy with other stuff for the next few weeks. Not much time for any trading other than a few quick scalps.
have a nice time with whatever you are doing and thanks for your great system
  • #4,372
  • Aug 7, 2019 11:24pm Aug 7, 2019 11:24pm
So Simon how did you go with that quartile trade yesterday. The first one would have stopped you out and depending whether you moved the stop at all would have been a loser, This was then followed by the winner. Cool uh!

Noting how it dragged the average past the previous swing high.

This was a 3:1 Trade less the loser = 2:1 i.e. 10% winnings
Attached Image (click to enlarge)
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  • #4,373
  • Aug 8, 2019 5:48pm Aug 8, 2019 5:48pm
Just curious...

Has anyone come across a helpful RSI divergence indicator that gives signals according to bar closes (not highs/lows)?

Even better would be one which also showed divergences between the fast and slow RSIs.

Cheers
  • #4,374
  • Aug 9, 2019 12:52am Aug 9, 2019 12:52am
Quoting Nala66
So Simon how did you go with that quartile trade yesterday. The first one would have stopped you out and depending on whether you moved the stop at all would have been a loser, This was then followed by the winner. Cool uh! Noting how it dragged the average past the previous swing high. This was a 3:1 Trade less the loser = 2:1 i.e. 10% winnings {image}
I didn't take any trades yesterday, but I will for sure try to catch some today. We'll see how it goes. Wish me luck.
  • #4,375
  • Aug 9, 2019 1:42am Aug 9, 2019 1:42am
Quoting k1w1
Just curious... Has anyone come across a helpful RSI divergence indicator that gives signals according to bar closes (not highs/lows)? Even better would be one which also showed divergences between the fast and slow RSIs. Cheers
I had one a while back but lost it when I had a PC crash.

It would show not only the continuation divs but also put the target on the price chart.

So if I had one once it must be possible to make a new one.
  • #4,376
  • Aug 9, 2019 1:49am Aug 9, 2019 1:49am
Quoting simon.says
{quote} I didn't take any trades yesterday, but I will for sure try to catch some today. We'll see how it goes. Wish me luck.
Here is another example on the 1 hour... Again the first attempt failed but the second was massive.
Attached Image (click to enlarge)
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  • #4,377
  • Aug 9, 2019 7:17am Aug 9, 2019 7:17am
Hye Alan,
I just sent you a PM i hope you'll find time to respond to that.
Thanks
  • #4,378
  • Aug 11, 2019 5:38pm Aug 11, 2019 5:38pm
Quoting Nala66
{quote} I had one a while back but lost it when I had a PC crash. It would show not only the continuation divs but also put the target on the price chart. So if I had one once it must be possible to make a new one.
Alan, was it custom made like your hidden divergence indicator (which is brilliant), or did you simply find it somewhere on the internet?

All of the divergence indicators I've seen connect bar highs/lows and not the closes. I've also never seen one plot divergences between fast and slow RSIs.

It would be an awesome tool if it did exist!

Cheers
  • #4,379
  • Aug 11, 2019 6:41pm Aug 11, 2019 6:41pm
I may have a rather silly question, but hopefully people can all share how they see and think.

With the GBPUSD being so bearish, how do you trade? How do you evaluate the signal?

When a bearish signal come, how far can it still travel?

When a bullish signal come, how strong or real can it be?

I know the answer may well be in the technical analysis from the graph itself, but looking at the global picture, looks like it is way too low that a (dead cat) bounce may occur anytime
  • #4,380
  • Aug 11, 2019 6:52pm Aug 11, 2019 6:52pm
Quoting k1w1
{quote} Alan, was it custom made like your hidden divergence indicator (which is brilliant), or did you simply find it somewhere on the internet? All of the divergence indicators I've seen connect bar highs/lows and not the closes. I've also never seen one plot divergences between fast and slow RSIs. It would be an awesome tool if it did exist! Cheers
If you can accurately describe what it is that you want you can get it made by posting a job on MQL5 in the Freelance section. It will cost you anywhere from $30.00 USD and above depending how complex the code is.

https://www.mql5.com/en/job
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