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Trading the Cable swings via averages

  • #4,621
  • Sep 23, 2019 3:22am Sep 23, 2019 3:22am
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this is what i am looking
  • #4,622
  • Sep 23, 2019 3:40am Sep 23, 2019 3:40am
Hi Husky, here's what I have slightly different, played out well on Friday
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  • #4,623
  • Sep 23, 2019 4:16am Sep 23, 2019 4:16am
Quoting Dubtrader
Hi Husky, here's what I have slightly different, played out well on Friday {image}
thx Dubtrader but why is that C level at that point?
  • #4,624
  • Sep 23, 2019 4:30am Sep 23, 2019 4:30am
Quoting huskyboy
{quote} thx Dubtrader but why is that C level at that point?
I think the chart was drawn on Friday, its just the first point below the 26 EMA to make Point C on the opposite side of A . The Bar before closed on the EMA so I just picked the one below.

Its my first post so could be wrong!!!
  • #4,625
  • Sep 23, 2019 4:56am Sep 23, 2019 4:56am
Here's what I have on the H4

Again could be wrong, just trying to learn by putting it out there. I'll probably get me a severe ticking off from Alan for posting crappy charts!!
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  • #4,626
  • Sep 23, 2019 7:09am Sep 23, 2019 7:09am
Hi there,

I am trying your system. My first trade has been with gold just two minutes ago. Lets see!

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  • #4,627
  • Sep 23, 2019 10:02am Sep 23, 2019 10:02am
Quoting huskyboy
{image} this is what i am looking
Looks like your spot on huskyboy, my chart was a carryover from Friday.

Here's my updated H4. Please correct me if I have it drawn wrong.
Attached Image (click to enlarge)
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  • #4,628
  • Sep 23, 2019 12:19pm Sep 23, 2019 12:19pm
Quoting Dubtrader
{quote} Looks like your spot on huskyboy, my chart was a carryover from Friday. Here's my updated H4. Please correct me if I have it drawn wrong. {image}
Attached Image (click to enlarge)
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The EMA swing was reached with a bull div; that div took price back up but ran into a bear div taking price to that 50% level.
  • #4,629
  • Sep 23, 2019 5:59pm Sep 23, 2019 5:59pm
is this div on the 4h still valid?
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  • #4,630
  • Sep 23, 2019 8:50pm Sep 23, 2019 8:50pm
and this on the daily has a div that was also divving down to the 5, but again it's broken. what to expect next? or are they null and void at this point?
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  • #4,631
  • Sep 24, 2019 12:45am Sep 24, 2019 12:45am
Quoting blessedchuck
and this on the daily has a div that was also divving down to the 5, but again it's broken. what to expect next? or are they null and void at this point? {image}
Hi blessedchuck. Here's my daily chart. As you can see there is a second Bearish Div formed most recently that you have not drawn in. Its probably easier to spot if you use bar charts. Personally I would consider that Div to be still valid. Not sure about the H4 as it is 6 bars back now, but I guess its valid until another Div comes along. Some of the other guys may have better answers than me on both of these questions as I'm only learning myself. Hope that helps.
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  • #4,632
  • Sep 24, 2019 2:44am Sep 24, 2019 2:44am
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not much off direction to be seen allthough i would favour the shorts cause H1 below its ema and rejecting from it + bear div. Any thoughts ???
  • #4,633
  • Sep 24, 2019 3:02am Sep 24, 2019 3:02am
Supreme court ruling on the suspension of Parliament due at 10.30 am GMT this morning. Could be fireworks after that. Which way from there? No idea. Just something to be aware of.
  • #4,634
  • Sep 24, 2019 5:13am Sep 24, 2019 5:13am
I don't think this strategy incorporates news as an indicator.
MT4 Demo Return This Week: na
  • #4,635
  • Sep 24, 2019 6:36am Sep 24, 2019 6:36am
Quoting mckenzie3184
I don't think this strategy incorporates news as an indicator.
No it doesn't but I saw no harm in giving a heads up to those in other parts of the world who may not be so aware of the Brexit goings on today in the supreme court.

Anyway here's a target that I see on the H1 atm. Please correct me if anybody sees a problem with the chart thanks.
  • #4,636
  • Sep 24, 2019 6:37am Sep 24, 2019 6:37am
Quoting Dubtrader
{quote} No it doesn't but I saw no harm in giving a heads up to those in other parts of the world who may not be so aware of the Brexit goings on today in the supreme court. Anyway here's a target that I see on the H1 atm. Please correct me if anybody sees a problem with the chart thanks.
And I forgot the chart
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  • #4,637
  • Sep 24, 2019 7:14am Sep 24, 2019 7:14am
Quoting Dubtrader
{quote} No it doesn't but I saw no harm in giving a heads up to those in other parts of the world who may not be so aware of the Brexit goings on today in the supreme court. Anyway here's a target that I see on the H1 atm. Please correct me if anybody sees a problem with the chart thanks.
Ah, cool.
MT4 Demo Return This Week: na
  • #4,638
  • Sep 24, 2019 7:18am Sep 24, 2019 7:18am
Quoting Dubtrader
{quote} And I forgot the chart {image}
if your target is down i have the same. i don't understand what those little lines above and below price means yet. lol
  • #4,639
  • Sep 24, 2019 11:11pm Sep 24, 2019 11:11pm
Quoting Nala66
Now that would have been fine except the situation changed. The pattern changed from a pennant to a wedge and that has a different calculation. The thing to note is the double bottom and the target is the height of the wedge taken at the breakout point. So we have another AB = CD. If I am not around to call these changes then I am at fault for calling them in the first place. So I DO NOT DO THAT {image}
Alan, this is great, thank you. Do you use any other shapes to determine AB=CD patterns?

Cheers
  • #4,640
  • Sep 25, 2019 2:28am Sep 25, 2019 2:28am
I guess every one plotted this one and that is why it went so fast...
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