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Trading the Cable swings via averages

  • #4,681
  • Sep 27, 2019 4:26am Sep 27, 2019 4:26am
Quoting huskyboy
failed to cross ema M5, whats now the target short?
Duuno trying to figure that out. Maybe it ranges here for a while until a target shows up

Does this look right, even though the target has been hit, just practicing.

AB=CD on the M30
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  • #4,682
  • Sep 27, 2019 4:51am Sep 27, 2019 4:51am
Quoting huskyboy
failed to cross ema M5, whats now the target short?
Ranging sideways...We need to see a breakout
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  • #4,683
  • Sep 27, 2019 6:56am Sep 27, 2019 6:56am
Guys am I on the right track here with these charts.

My charts should come with a financial health warning, use at your own risk! lol

M5 and M15
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Click to Enlarge Name: GBPUSDM15.png Size: 49 KB
  • #4,684
  • Edited 9:36am Sep 27, 2019 7:35am | Edited 9:36am
Looks like the next pivot was the correct one marked in purple on the M5

Edit. Magenta Purple line is not correct
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  • #4,685
  • Sep 27, 2019 8:19am Sep 27, 2019 8:19am
So we have a rejection off the M15 chart and bearish divergence on the H1 atm. Turning point or will it reload?
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  • #4,686
  • Sep 28, 2019 3:16am Sep 28, 2019 3:16am
Here are a whole pile of 1 hour ZOO points for your consideration.

The idea is to recognise these then drop to the 5 min chart and trade the directions. Obviously if the trend is down and we are trading below the average then the shorts will ultimately pay more as they continue to make LL's.

Note how the divs at 5. 7, 9 and 11 never made it back across the EMA so price makes LL's.

5,8,10 and 12 are continuation divs, without target other than probable LL's.

2 was a regular bear divergence putting a halt to the bull support (1) This bear div did find support but not before the threat of the hook at 3.

Lastly (I think) was the HD at 5.

All this time we are watching the decent of the EMA as it attempts to make the LL which it did do.

Can you see how the two bar teat fits in here. The only problem one was number 8 with a nasty hook threat. This threat would have been dealt with on the 5 min chart.

So a nice bear trend for this last week and the target levels all have been reached.
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  • #4,687
  • Sep 29, 2019 6:03pm Sep 29, 2019 6:03pm
Quoting Nala66
Here are a whole pile of 1 hour ZOO points for your consideration. The idea is to recognise these then drop to the 5 min chart and trade the directions. Obviously if the trend is down and we are trading below the average then the shorts will ultimately pay more as they continue to make LL's. Note how the divs at 5. 7, 9 and 11 never made it back across the EMA so price makes LL's. 5,8,10 and 12 are continuation divs, without target other than probable LL's. 2 was a regular bear divergence putting a halt to the bull support (1) This bear div did...
Great Explanation Alan! Thanks.
David
  • #4,688
  • Sep 30, 2019 7:28am Sep 30, 2019 7:28am
M5 AB=CD. Messy chart but effective

Alan loved your last post. Such clarity when you lay out the bigger picture. Thankyou
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  • #4,689
  • Oct 1, 2019 2:21am Oct 1, 2019 2:21am
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this M5 AB=CD caught me -13, wonder what was the signal upwards?
  • #4,690
  • Oct 1, 2019 2:49am Oct 1, 2019 2:49am
Quoting huskyboy
{image} this M5 AB=CD caught me -13, wonder what was the signal upwards?
Bullish Div on the M1 for the up move
  • #4,691
  • Oct 1, 2019 2:51am Oct 1, 2019 2:51am
And bearish Div on the M5 for the down move
  • #4,692
  • Oct 1, 2019 2:51am Oct 1, 2019 2:51am
Quoting Dubtrader
{quote} Bullish Div on the M1 for the up move
thx, are you trading M1?
  • #4,693
  • Oct 1, 2019 2:55am Oct 1, 2019 2:55am
Attached Image (click to enlarge)
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for the moment i cant find anything else, that last bar seems to be forming a bear RSI/RSI, and the same bear RSI/RSI on the M30
  • #4,694
  • Oct 1, 2019 2:57am Oct 1, 2019 2:57am
Quoting huskyboy
{quote} thx, are you trading M1?
Trade on M5 but always have M1 open on a different screen. I use 3 screens, always have M5 and M1 open and then switch between other time frames as necessary on the third screen.
  • #4,695
  • Oct 1, 2019 3:01am Oct 1, 2019 3:01am
Quoting Dubtrader
{quote} Trade on M5 but always have M1 open on a different screen. I use 3 screens, always have M5 and M1 open and then switch between other time frames as necessary on the third screen.
same here, 3 screens, one for overvieuw and ff, other 2 devided H1/M5 and M15/M30, hardly looking at M1; difficult morning so far
  • #4,696
  • Oct 1, 2019 3:04am Oct 1, 2019 3:04am
Quoting huskyboy
{image} for the moment i cant find anything else, that last bar seems to be forming a bear RSI/RSI, and the same bear RSI/RSI on the M30
Neither can I. Should be a target now on the H1 it just closed with continuation Div. Small target though. 15M and 30M both have bearish divs atm. I need to look around some more
  • #4,697
  • Oct 1, 2019 3:21am Oct 1, 2019 3:21am
Quoting Dubtrader
{quote} Neither can I. Should be a target now on the H1 it just closed with continuation Div. Small target though. 15M and 30M both have bearish divs atm. I need to look around some more
there's the short we've been expecting
  • #4,698
  • Oct 1, 2019 4:28am Oct 1, 2019 4:28am
All I see is a choppy market and as such I like to stay clear of them and just sit on the side awaiting better times.

If we look at the 4 hour we see very little on offer as the average gradually makes a try for the LL
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  • #4,699
  • Oct 1, 2019 7:04am Oct 1, 2019 7:04am
Quoting Dubtrader
{quote} Neither can I. Should be a target now on the H1 it just closed with continuation Div. Small target though. 15M and 30M both have bearish divs atm. I need to look around some more
Attached Image (click to enlarge)
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and again it was respected. I didn't trade it
  • #4,700
  • Oct 1, 2019 7:49am Oct 1, 2019 7:49am
Daily Chart, hope I have it drawn correct
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