Trading the Cable swings via averages

Bingo it just hit.

New signal forming on the 1 hour

I'm still not sure about this one because the A point was a Dodgy so I have two targets 2890 and 2894. I closed at the lesser one to be on the safe side.

Off to bed now so I will have to wait until morning to find out how this played out.

Well I still think it was the 2890 for this setup so I will make a note to include those Dodgy Doji's in future.

I was thinking this is strange because the bulls ran to the target without even finding support. So if this is the case there may be a higher target on the agenda. This would also be the case if the EMA is to make the HH.

Now if it going to make this HH then price should run to the next level 2947 and look what happened while I was asleep.

We also had an outstanding target at 2919 and price was so keen to get there it gapped to it.

Who said we can't plot where price is going without a crystal ball. Just going to polish mine....

GREAT Stuff Thks

Currently I see this as being a holding pattern while the EMA continues to rise heading for the HH.

This is often a dangerous place to trade because the bears may try to stop it.

It was in HD at the top so it may make the EMA and stop it.

Still we sit and wait for a proper signal.

There is still no sign of any bearish activity with this run now at about 38 days of daily climb.

People just don't seem to get that we have to have the odd pull back but these hardly causing the collasp, just creating new opportunities.

See here below how the daily continues to climb but on the 1 hour and 4 hour there have been many opportunites to trade both ways. On the 5 min chart there has been millions of opportunities.

Looking at the markets this way we can readily determine the bias we wish to trade via the time we have available. Obviously the best bias for the past month or so has been bullish if we traded the daily chart however this does not mean that if we are trading the hourly chart we cannot get some nice shorts in..

Watch for those divs that try to stop the average and turn it.

Did anyone not see this on the 60m? It couldn't have been more pip perfect. Price is still stuck in this Daily range since mid October.

It is also went to exactly 50% of an upward move on the 240m

Here you go, corrected your chart

Second round for today

Talk about YoYo trading yesterday was a blast for profits but one had to be on the ball keeping a close eye on the moves.

Divergence kept stopping and reversing the action. I didn't hedge at all but just kept up with the changes until I reached my daily PT.

Below is the mess my charts made. What is missing is the 15 min chart where price shot from the Daily S! to the Daily R! where it again ran into div. I have included this below.

So at the end of the month we see the daily average continues to rise and wonder if the monthly will actually break long for a change.

Finally after 3 days! the 1 hour makes the target.

Once this EMA makes the HH (red circle) sometime today, then we can start looking for a new signal and target.

Zooming out we can see there are some nice distances to make should the price decide to get a wiggle on to drag that average even higher. For the average to make the 2963 we should see price making the 3014.

A break short and we may see the 2914 tested.

4 hr target (yellow) was finally hit while I was on the loo... Too much information hey! Should see some southerly movement not.

H4 EMA swing is going for a HH

Yes I think we mentioned that the other day. It also makes me think the 1 hour will just make a holding pattern as those next two EMA highs are attacked and then a price push to 3014. If it was going to short I think we would have seen a bearish div.

Nicely pointed out Jazz

In other words we buy the lower time frame dips.