Attachments: Trading the Cable swings via averages

Trading the Cable swings via averages

#5,101
Dec 3, 2019 3:55am Dec 3, 2019 3:55am

Jazz1964
| Joined Apr 2008 | Status: Trader | 942 Posts

Quoting Nala66

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In other words we buy the lower time frame dips.

Ignored

...Like I just did

Trading S/R with PA only. No indicators anymore!

#5,102
Dec 3, 2019 4:29am Dec 3, 2019 4:29am

Nala66
Joined Mar 2016 | Status: Trader | 6,382 Posts

Quoting Jazz1964

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{quote} ...Like I just did

Ignored

Watch out for the divs though because it should be choppy here.

#5,103
Dec 3, 2019 5:30am Dec 3, 2019 5:30am

Nala66
Joined Mar 2016 | Status: Trader | 6,382 Posts

That 3014 on the hour is looming closer....

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#5,104
Dec 3, 2019 5:34am Dec 3, 2019 5:34am

Nala66
Joined Mar 2016 | Status: Trader | 6,382 Posts

Bear Div forming on the hour!!!!!!!!!!!!!!!

Will it give us a big push through?

#5,105
Dec 3, 2019 10:43pm Dec 3, 2019 10:43pm

Nala66
Joined Mar 2016 | Status: Trader | 6,382 Posts

So what's on for today?

Looking at the hour I see the bulls have taken out those HH averages but failed to get across the 3014.

There is a bear div but the bears have not made it back to the EMA.

This is very confusing, I haven't got a clue here to go on at all.

So for now I don't know so I don't trade.

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#5,106
Dec 4, 2019 2:18am Dec 4, 2019 2:18am

Nala66
Joined Mar 2016 | Status: Trader | 6,382 Posts

Looks like the 3014 is taken care of at last the next 1 hour level is 3109 and hopefully it gets a wiggle on.

#5,107
Dec 4, 2019 3:01am Dec 4, 2019 3:01am

Nala66
Joined Mar 2016 | Status: Trader | 6,382 Posts

Gee one more push like this one and price could already be at the 3109

#5,108
Dec 4, 2019 7:23am Dec 4, 2019 7:23am

Nala66
Joined Mar 2016 | Status: Trader | 6,382 Posts

Well it's not quite at the 3109 but that will do me for the day. The EMA has made the HH

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#5,109
Dec 4, 2019 5:14pm Dec 4, 2019 5:14pm

Nala66
Joined Mar 2016 | Status: Trader | 6,382 Posts

Well would you look at that, a couple of minutes later and the target was hit to the pip.

The hour easily took out the 3014 average which means the price itself has to make the next level 3109.

Notice how when it makes the distance it just goes into a hold pattern while the EMA catches up. Some call this consolidation but I prefer HOLDING because this suggest it is waiting for something and that something is the EMA.

Zooming out we see several more levels are looming but we haven't had an ABCD for some time so we may get a decent dip below sometime soon to give us one.

The daily too has made an average HH and price has reached the next level.

Another interesting chart is the weekly with an ABCD taking price to 3370 but I won't hold my breath for that just yet.

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#5,110
Dec 5, 2019 1:19am Dec 5, 2019 1:19am

Nala66
Joined Mar 2016 | Status: Trader | 6,382 Posts

Running for that 3195 in a hurry... I just picked up a very quick single entry 30 pips from the 1 minute support and closed. Thank yer mother for the rabbit.

#5,111
Dec 5, 2019 1:44am Dec 5, 2019 1:44am

Nala66
Joined Mar 2016 | Status: Trader | 6,382 Posts

On that hourly chart the next level is 3159 not 3195, old age creeping in.

#5,112
Dec 5, 2019 7:30am Dec 5, 2019 7:30am

Nala66
Joined Mar 2016 | Status: Trader | 6,382 Posts

It looks like the bulls are failing to make the 3159 so it should turn here to stop the average HH.

We wait and see...but it is also my bed time.

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#5,113
Dec 5, 2019 11:49am Dec 5, 2019 11:49am

limth
| Joined Nov 2009 | Status: Trader | 40 Posts

Quoting Nala66

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Ok so yesterday we set up the white background 5 min chart and normally that is all I have on that chart. However I have 4 23 inch monitors so I can spread myself out a bit, I know some use laptops with smaller screens so for now I am going to add a little more to cater for those folks. This involves the timing of the trade, the approximate time I start work and I call it Bar 108. Switch on your Period Separator and measure 108 bars from it with the rectangle tool. Copy the rectangle and place the copy at the next Period Separator. Now using the...

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Hello Alan, as a newbie, I'm really happy to see u and join you here.

May I know what is the purpose of setting Bar 108 in M5 chart? Is it something to do with the Broker we use? I live in Malaysia (GMT+8) and using HotForex....

#5,114
Dec 5, 2019 4:48pm Dec 5, 2019 4:48pm

Nala66
Joined Mar 2016 | Status: Trader | 6,382 Posts

Oh my would you look at that... Just as I just as go to bed the price decides to hit the 3159. I think I have the solution to this problem but it involves not sleeping at all but I don't know how to manage that yet. Actually one more hour would have been OK.

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#5,115
Dec 5, 2019 4:52pm Dec 5, 2019 4:52pm

Nala66
Joined Mar 2016 | Status: Trader | 6,382 Posts

Quoting limth

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{quote} Hello Alan, as a newbie, I'm really happy to see u and join you here. May I know what is the purpose of setting Bar 108 in M5 chart? Is it something to do with the Broker we use? I live in Malaysia (GMT+8) and using HotForex....

Ignored

Hi and welcome.

The bar 108 on the 5 min chart is just an approximation of the time to expect something to move the market significantly.

We cannot be at the PC all the time so we need to employ some form of time management. the 108 is the approximate time I start to look for trades.

Once I am in the trade and the stops are at break even I can leave it alone to do its thing.

#5,116
Dec 5, 2019 5:17pm Dec 5, 2019 5:17pm

Nala66
Joined Mar 2016 | Status: Trader | 6,382 Posts

It looks to me now like the average will try for the 3159 and price will make the 3205 to drag it there. I suspect this will happen before the NFP (maybe at the 108 open) whereupon it may even run to the next level 3277.

Price is now well above the nearest bull support some 250 pips or so with no sign at all of a turnaround.

Looking here at the weekly there is lot's of room upstairs for it to move as the average attempts the 3022 price attempts the 3741. This requires some strong up moves.

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