Trading the Cable swings via averages

Quoting Dubtrader

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Hourly Chart {image}

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Quoting Dubtrader

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H4 {image}

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Quoting bridgstarr

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Good evening/morning, Hopefully you can unpick some of my confusion from the day's events. Sorry its a bit long winded At point 1 there was HD on H1 and on m5, therefore long entry on 2 bar test, aiming for the target around point 2 from the asian ABCD on M5. Only one entry as it is below EMAs. This was probably the only clear bit for me. At point 2 we have hit the target, and we have divergence on M5, so maybe an opportunity to short, but I should be expecting price to cross H1 EMA, so I have a conflict. I'm not sure what to do. Is there and answer...

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Quoting bridgstarr

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Good evening/morning, Hopefully you can unpick some of my confusion from the day's events. Sorry its a bit long winded At point 1 there was HD on H1 and on m5, therefore long entry on 2 bar test, aiming for the target around point 2 from the asian ABCD on M5. {image}

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Quoting quangvision

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Hi Alan, Since starting of this week 4 Nov 19, my ICMarkets MT4 platform changed their time from GMT+3 to GMT+2. I am not sure if your broker did such change. My concern is if the time change would affect the bar 108 on the chart. Because server time change would change the starting bar of the date on hourly therefore bar 108 would not the same. Please help me to clarify that

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Quoting Nala66

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{quote} 1) You are correct here except for the target. We expect the div to return price to the EMA which it did but it failed to close above it so now we expect a LL. We got this LL briefly but again it was a HD on the hour. So back to the EMA and this time it closed above to form our ABCD> This was easy to predict because if price is to now go down it needs to setup the ABCD to do so. That means we should have expected this close above the EMA for it to form. At that same time we were travelling long on a target as you rightly pointed out on the...

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Quoting Nala66

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Now we see that we cannot get an ABCD on the 1 hour because both prices are on the same side of the EMA. You should be getting an idea of how the sentiment is manipulated into positions to form a working structure of the price action. {image}

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Quoting bridgstarr

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Was that move up predictable? I saw nothing on higher timeframe. On M5 I saw the divergence at point 1, but wasn't expecting price to go above the previous swing high, especially since it hit the swing high in divergence. At point 3 the price hit the next EMA swing, and then continued on up with the M5 and M1 in divergence. What did I miss? {image}

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Quoting bridgstarr

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Was that move up predictable? I saw nothing on higher timeframe. On M5 I saw the divergence at point 1, but wasn't expecting price to go above the previous swing high, especially since it hit the swing high in divergence. At point 3 the price hit the next EMA swing, and then continued on up with the M5 and M1 in divergence. What did I miss? {image}

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Quoting Nala66

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{quote} I haven't seen a trade setup at all today so I am quitting...There is always another day.

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Quoting bridgstarr

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Was that move up predictable? I saw nothing on higher timeframe. On M5 I saw the divergence at point 1, but wasn't expecting price to go above the previous swing high, especially since it hit the swing high in divergence. At point 3 the price hit the next EMA swing, and then continued on up with the M5 and M1 in divergence. What did I miss? {image}

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Quoting 44johnw

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{quote} There was bullish HD on the H4 which pushed price up to the EMA. Bounced off the EMA with bearish Div. Cheers John

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