Trading the Cable swings via averages

Quoting KevinOwens

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Hi Alan, Thanks for your continuous support. I have a doubt regarding today's action. I get that Short is the way to go for today, as traded by you and probably Jazz1964. However, I'm confused about how we deal with these few bullish divergences along the way, as drawn in the picture. To me, this is one of the most confusing parts, as these types of situations happen pretty often. Please educate me. {image}

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Quoting MrMagnet

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Here are a bunch of scripts that you all can my make use of that will hopefully make the order process easier. Refer to post #2807 and after for Alan's explanation about using them. These are scripts and go in the scripts folder. If you don't know how to do this then use google as it is a great resource. Script details as follows !Break Even + 1 pip - Adds or moves the stops to break even plus 1 pip. It will work on multiple orders at once. !Close All Open & Pending Orders- Closes all open orders and pending orders. BEWARE - This includes closing...

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Quoting Nala66

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That was the night and bright 5 min charts now look at the 1 hour where the inference comes from {image}

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Quoting Nala66

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{quote} It doesn't matter which side they are draw on if they disagree I just call them divergences. However if the fast RSI is on the inside (that is closest to the 50% level) it indicates weakness. Whereas when it is on the outside it indicates being over extended.

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Quoting Hercs

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{quote} ======== MrMagnet, Thank you for your kindness accorded us all; "paying forward" is great trait and I wish you continued success. Could you please offer us the option to have the "!Break Even + 1 Pip" to change the one-pip to spread +1 and if not, just the option to select our own value seeing that your Script is an ex4-file format and we cannot change that. Changing the stop is already in this format and can be selected according to our preferences. Thanking you in advance. Best wishes, Hercs.

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Quoting limth

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{quote} Hi Alan: Traditionally we draw divergences between Price pivots and RSI indicator, however you've drawn divergences on double RSI, and also Price pivots vs RSI(14), any significant differences between both of them?

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Quoting Jazz1964

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Talking about HD's, did you ladies and gentlemen also shorted the M5 HD back to the M30 EMA? {image} A two-step short, second entry after the M5 two-bar break. Then, at that M30 EMA which is a ZOO (Horizontal previous resistance 1.3150) a Long into the M5 EMA. Day is done. M30 gave nice EMA touches last week and did that again today.

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Quoting logic38

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{quote} HI jazz How do you apply history to your RSI ?

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Quoting Jazz1964

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{quote} I am not sure what you mean Logic38, sorry. Maybe you can explain what you are asking?

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Quoting Nala66

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{quote} 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.

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Quoting limth

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{quote} Hi Alan: Just wanna to get a hang of it...Your bright template automatically applies the 108 bars, however when I on back the Period Separators on my HotForex MT4 and use cursor to measure it from left to right, it is constantly 122 bars, what does it means? Tqvm

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