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Trading the Cable swings via averages

  • #4,721
  • Oct 2, 2019 10:13am Oct 2, 2019 10:13am
And the 5 min is now working on yet another...
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  • #4,722
  • Oct 2, 2019 12:24pm Oct 2, 2019 12:24pm
So another nice rejection off the H4, money in the bank this last couple of days from these alone!

Alan I finished off the chart with the AB=CDs. I am still astounded with the accuracy of this system, only 2 pips to the yellow bar!! Amazing
I know the ABCDs are even better, I am even more amazed by them. Thanks for the lessons earlier Alan, learnt a lot today.

Second chart is the daily where the down move this morning hit the 50% line for the second day in a row.
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  • #4,723
  • Oct 3, 2019 3:00am Oct 3, 2019 3:00am
Hi Alan,

I'm hoping you can help me on my analysis this morning. I missed the downward move at the start of the session.
On H1 I saw the diversion before the session, but H1 EMA was making HH. I would have only traded this back to the EMA, and since it was already passed the EMA, I wasn't looking to short.
After the event I realised that that there was an AB=CD on H1. My understanding this sets a possible target, but is not a reason in itself to take a trade

On M5 I didn't see bear support (if I understand correctly, bear support is when the price falls short of the EMA). However there was divergence at point 1 marked on the chart. Had I entered here, I probably would have been stopped out at point 2.

Given all this....

Did I have enough information to take the trade?
Was I missing anything?
Or should I have left it alone


I took a long trade at 3, based on H1 and m5 divergence, up to point 4. I think this was quite clear, but correct me if I'm wrong

I'd be grateful for your assistance.
Thanks
Neil
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  • #4,724
  • Oct 3, 2019 3:28am Oct 3, 2019 3:28am
Stalled at the H4 EMA again. Bullish Div on the H1 but it needs a close above the EMA for bull support
  • #4,725
  • Oct 3, 2019 3:36am Oct 3, 2019 3:36am
The H4 the gift that keeps on giving... lol Took 20 pips from the bearish div on the M5
  • #4,726
  • Oct 3, 2019 6:00am Oct 3, 2019 6:00am
Quoting bridgstarr
Hi Alan, I'm hoping you can help me on my analysis this morning. I missed the downward move at the start of the session. On H1 I saw the diversion before the session, but H1 EMA was making HH. I would have only traded this back to the EMA, and since it was already passed the EMA, I wasn't looking to short. After the event I realised that that there was an AB=CD on H1. My understanding this sets a possible target, but is not a reason in itself to take a trade On M5 I didn't see bear support (if I understand correctly, bear support is when the price...
Hi bridgstarr here's what I did this morning to catch the drop

I used the 1 minute chart to find the clues, there was a bearish div at 7pm GMT on the M1 marked in yellow on my chart. The H1 already had a bearish Div at this point, I went short here with half my position. 25 minutes later just before the drop there was a bearish HD marked in magenta on my chart, again on the M1, Went short again with the other half of my position and then a few minutes later the drop happened.

At the end of the drop I took the bullish div off the M5 to take us back up again. Anyhow that's how I did it this morning.

Think there was a HD just before the drop on the M5 as well.
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  • #4,727
  • Oct 3, 2019 6:13am Oct 3, 2019 6:13am
Quoting Dubtrader
{quote} Hi bridgstarr here's what I did this morning to catch the drop I used the 1 minute chart to find the clues, there was a bearish div at 7pm GMT on the M1 marked in yellow on my chart. The H1 already had a bearish Div at this point, I went short here with half my position. 25 minutes later just before the drop there was a bearish HD marked in magenta on my chart, again on the M1, Went short again with the other half of my position and then a few minutes later the drop happened. At the end of the drop I took the bullish div off the M5 to take...
Thanks Dubtrader. I appreciate the explanation
  • #4,728
  • Oct 3, 2019 6:31am Oct 3, 2019 6:31am
Quoting bridgstarr
Hi Alan, I'm hoping you can help me on my analysis this morning. I missed the downward move at the start of the session. On H1 I saw the diversion before the session, but H1 EMA was making HH. I would have only traded this back to the EMA, and since it was already passed the EMA, I wasn't looking to short. After the event I realised that that there was an AB=CD on H1. My understanding this sets a possible target, but is not a reason in itself to take a trade On M5 I didn't see bear support (if I understand correctly, bear support is when the price...
I think that was a good effort. The only thing I would add is on the 5 min chart try to develop targets such as I have here...

Also watch for those averages failing to make HH's or LL's
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  • #4,729
  • Oct 3, 2019 6:36am Oct 3, 2019 6:36am
It is very difficult to get a trend going at this time because of the conflict on the 4 hour chart. So quick trades are the name of the game.
  • #4,730
  • Oct 4, 2019 3:42am Oct 4, 2019 3:42am
Had a bit of a tricky morning this morning. I still don't really have a clue what price is doing.

At point 1 on my chart, my bias was long on H1 (Bullish divergence during asian session, EMA making HH and HL), but M5 EMA was a bit messy, so I wasn't sure about a trade. Maybe a two bar test at point A to go long?? Then divergence on M5 means I should close the trade?

At point 2 I was truly confused!. Was there HD divergence on H1? I missed the short anyway.

At point 3 there looked like bullish divergence on H1 and M5. Took a long trade and got stopped out for a couple of pips.

I'd appreciate any thoughts and comments on what I have done right or wrong, and what I have missed. Thanks in advance.
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  • #4,731
  • Oct 4, 2019 4:30am Oct 4, 2019 4:30am
Quoting bridgstarr
Had a bit of a tricky morning this morning. I still don't really have a clue what price is doing. At point 1 on my chart, my bias was long on H1 (Bullish divergence during asian session, EMA making HH and HL), but M5 EMA was a bit messy, so I wasn't sure about a trade. Maybe a two bar test at point A to go long?? Then divergence on M5 means I should close the trade? At point 2 I was truly confused!. Was there HD divergence on H1? I missed the short anyway. At point 3 there looked like bullish divergence on H1 and M5. Took a long trade and got stopped...
guess you missed this, at least thats what i think
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  • #4,732
  • Oct 4, 2019 4:32am Oct 4, 2019 4:32am
Quoting huskyboy
{quote} guess you missed this, at least thats what i think{image}
yep!
  • #4,733
  • Oct 4, 2019 4:43am Oct 4, 2019 4:43am
Quoting bridgstarr
Had a bit of a tricky morning this morning. I still don't really have a clue what price is doing. At point 1 on my chart, my bias was long on H1 (Bullish divergence during asian session, EMA making HH and HL), but M5 EMA was a bit messy, so I wasn't sure about a trade. Maybe a two bar test at point A to go long?? Then divergence on M5 means I should close the trade? At point 2 I was truly confused!. Was there HD divergence on H1? I missed the short anyway. At point 3 there looked like bullish divergence on H1 and M5. Took a long trade and got stopped...
H1 was a HD agree with huskyboy. But there are HDs all over the place this morning on the M1 and M5. Also very good regular bullish Divs as well, Very good morning for scalping. Don't think you have done much wrong its just very choppy conditions.

I look at the M1 chart all the time as well as the M5, you can pick off nice trades of the M1

Here's the M1 chart, your point 2 on the M5 was a regular Bearish Div on the M1, just easier to spot earlier IMHO. Also the yellow line is just a series of HDs on the M1. Im up about 40 pips just scalping albeit with a small account atm until I get a proper handle on things.

Anyway hope that helps still learning myself.
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  • #4,734
  • Oct 4, 2019 4:52am Oct 4, 2019 4:52am
Quoting Dubtrader
{quote} H1 was a HD agree with huskyboy. But there are HDs all over the place this morning on the M1 and M5. Also very good regular bullish Divs as well, Very good morning for scalping. Don't think you have done much wrong its just very choppy conditions. I look at the M1 chart all the time as well as the M5, you can pick off nice trades of the M1 Here's the M1 chart, your point 2 on the M5 was a regular Bearish Div on the M1, just easier to spot earlier IMHO. Also the yellow line is just a series of HDs on the M1. Im up about 40 pips just scalping...
That's great. I also use M1, but clearly not to the same effect as you. I'd be very happy with 40 pips today! Thanks for your response
  • #4,735
  • Oct 4, 2019 4:57am Oct 4, 2019 4:57am
Sorry bridgestarr Im giving you wrong info there, the bearish div i have marked out came a bit later, the first drop was from the HD on the hourly chart. But it was an easy to spot HD on the M1.
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  • #4,736
  • Oct 4, 2019 5:13am Oct 4, 2019 5:13am
Quoting bridgstarr
{quote} That's great. I also use M1, but clearly not to the same effect as you. I'd be very happy with 40 pips today! Thanks for your response
Believe me its not that easy every day, I make mistakes all over the place. I just found scalping easy this morning. I'd say Alan has double his quota already. My haul is just a small hill of beans money wise. Still early could yet be a proper breakout, which I will probably miss (; NFP later today maybe that's whats holding things back.
  • #4,737
  • Oct 4, 2019 5:18am Oct 4, 2019 5:18am
Another bearish Div on the M1 just now, would have got you 10 - 12 pips
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  • #4,738
  • Oct 4, 2019 6:50am Oct 4, 2019 6:50am
Up another 60 pips, my lucky day. The power of the M1. 3 trades in a row. I was in love with the H4 the other day but I've dumped her now for the M1lol
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  • #4,739
  • Oct 4, 2019 6:51am Oct 4, 2019 6:51am
Quoting Dubtrader
Up another 60 pips, my lucky day. The power of the M1. 3 trades in a row. I was in love with the H4 the other day but I've dumped her now for the M1lol {image}
Ha Ha, That's great. I've had probably my worst day in 6 months.
  • #4,740
  • Edited 1:40pm Oct 4, 2019 8:31am | Edited 1:40pm
Quoting bridgstarr
{quote} Ha Ha, That's great. I've had probably my worst day in 6 months.
Its getting tricky now, been stopped out twice. Although easily my best day scalping so far all thanks to Alan's system, the signals were crystal clear to me.

Can anyone advise me on this M30 Chart I'm trying to find the C point, is it the first point after the EMA that I should draw the target from? Any help would be appreciated. You see thats the thing I can make 100 pips but i can't draw a chart properly!!

EDIT: The chart is not valid because the B point is not a pivot. I'm still curious about the C point if anyone can help. Where would it be placed if it were a valid chart. Would it be the first closed candle nearest the EMA or at the corner where the the pivot is? I understand C does not have to be a pivot. Thanks guys
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