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Trading the Cable swings via averages

  • #5,201
  • Dec 11, 2019 6:03pm Dec 11, 2019 6:03pm
Looking at the longer term daily chart I see this is progress...

The AB = CD is getting close now.
The EMA swing high is getting close now.
There is a possible local target to 3270 slightly above the D
No sign of a long term short
On a daily basis these are not huge targets to achieve.

So I guess we should be looking for longs on the lower time frames.
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  • #5,202
  • Dec 11, 2019 6:09pm Dec 11, 2019 6:09pm
On the 1 hour chart the EMA has made the HH so it has to reach the 3205 which it did.

Now if the EMA is to make the 3205 then price should pull it up by reaching the 3277.

So once again still looking for those lower time frame longs.
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  • #5,203
  • Dec 12, 2019 8:00am Dec 12, 2019 8:00am
Quoting Nala66
{quote} Hi Kevin You started off well picking the HD but things fall apart after that. Remember this is the open and we expect good movement so once below the EMA we are short. There is a good chance bull divs are not going to work in a bullish manner until we get where we are going so instead of making it to the EMA they make LL's instead. Now if you are worried about them at all you can always hedge them however you have hardly made much money by the time the 1st one sets up after the hook so better to just move the stop to BE. For me I am not...
Thank you very much for the clarification, Alan. Your posts are very helpful!
  • #5,204
  • Dec 12, 2019 8:02am Dec 12, 2019 8:02am
Quoting Jazz1964
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.
Hey Jazz, I hope you are having a great time. It's very good to have you back. You were one of the founding members of this thread and I'm sure that you've mastered this strategy. It feels good to again see your insights. Please keep continuing to post your trades and analysis.
  • #5,205
  • Dec 12, 2019 8:04am Dec 12, 2019 8:04am
Hey Alan and Jazz, we were expecting longs for today, but most of the time, it was shorts. I know that this system doesn't force you stick to one certain bias. I am aware that we can trade both sides, according to the situation. However, I'm confused and curious about how one should deal with the market in today's situation. Can any of you post your analysis or trades for today?! I will be very grateful.
  • #5,206
  • Dec 12, 2019 8:13am Dec 12, 2019 8:13am
Quoting KevinOwens
{quote} Hey Jazz, I hope you are having a great time. It's very good to have you back. You were one of the founding members of this thread and I'm sure that you've mastered this strategy. It feels good to again see your insights. Please keep continuing to post your trades and analysis.
Hi Kevin, thank you for your kind words but remember my FF signature
I had to fight mainly two issues. The first one was my mindset, coming from EA development and trading for the last 10 years or so, I had to get used to taking responsibility for my manual decisions and positions again. Problem solved.
The second issue was chart reading. I gave far too much weight to all those divergences against the trend, expecting a reversal. That gives loss after loss. Now I read the chart with a helicopter view: what are the EMA's telling me? Swing highs and lows? What is the trend on all timeframes (trend reading buy EMA swings). Where are the ZOO's?
Success in Trading = knowledge + experience + hard work.
Go for it!
Trading S/R with PA only. No indicators anymore!
  • #5,207
  • Dec 12, 2019 8:26am Dec 12, 2019 8:26am
Quoting Jazz1964
{quote} Hi Kevin, thank you for your kind words but remember my FF signature I had to fight mainly two issues. The first one was my mindset, coming from EA development and trading for the last 10 years or so, I had to get used to taking responsibility for my manual decisions and positions again. Problem solved. The second issue was chart reading. I gave far too much weight to all those divergences against the trend, expecting a reversal. That gives loss after loss. Now I read the chart with a helicopter view: what are the EMA's telling me?...
Hey Jazz, Thanks for the prompt reply. I am going to save this reply, as you've talked about your transition to being a better trader. However, Can you please elaborate on how you would've traded this day?! I can get more of your insight/mindset from that. Sorry, for being needy. Anyhow, Have a good day!
  • #5,208
  • Dec 12, 2019 11:00am Dec 12, 2019 11:00am
I just did one trade today, was busy autumn gardening and sure a bit cautious because of the elections.
But below here my considerations.
I agreed with Alan's post with an overall Long Bias. (I am not married with such Bias; need to be flexible!)
But we got to see that before 108 we have H1 divergence (within both RSI's), so I would expect to see Price going to the H1 EMA, which it did.
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I wasn't at my screen so early before 108 bar, but here is a nice Long on a ZOO. I definitely like the setup and would have tried it with a tight stop (against the H1 div, I know).
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But be careful, H1 div.
That's why the Long target at the EMA Swing High is a good one.

In the pic above you can also see a setup for the first Short of the day.
And of course, there were many great short setups further on:
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Trading S/R with PA only. No indicators anymore!
  • #5,209
  • Dec 12, 2019 4:22pm Dec 12, 2019 4:22pm
Wow, from dipping to the depths it's now gone to the moon!!!!
  • #5,210
  • Dec 12, 2019 5:21pm Dec 12, 2019 5:21pm
Quoting Jazz1964
I don't have any M5 swing highs marked above here on my chart anymore.
Quoting Nala66
{quote} Neither do I. Have to use the higher time frame ones.
Trading S/R with PA only. No indicators anymore!
  • #5,211
  • Dec 12, 2019 6:11pm Dec 12, 2019 6:11pm
Every hour that passes now is really going to drag that 1H EMA skywards.

The daily is well into that wide open space and the monthly is on track to hit its target (3615).

The weekly has crashed through the D of the ABCD and is on track to hit the EMA swing high of 3760.
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I hope everyone made bucket loads of money because I wasn't trading yesterday nor today.
  • #5,212
  • Dec 12, 2019 6:19pm Dec 12, 2019 6:19pm
Here is a shot of my daily showing and AB =CD for a change.

Note also how the EMA is about to make the HH and this big push we have just had looks nothing more than an impulse bar to get it over the line... Funny that huh!
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  • #5,213
  • Dec 13, 2019 6:23pm Dec 13, 2019 6:23pm
The bear div on the hour chart sent price back to the EMA, that's a lot of pips, you guys must have made a fortune.

The bears have not found support as yet running into a tiny RSI bull div, it is hovering on the EMA now.
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  • #5,214
  • Dec 14, 2019 4:15am Dec 14, 2019 4:15am
Quoting Nala66
...you guys must have made a fortune. ...
Just my daily target No greed here. I kept on being disciplined.
Trading S/R with PA only. No indicators anymore!
  • #5,215
  • Dec 16, 2019 2:25am Dec 16, 2019 2:25am
Today's trading from my marked Zone of Opportunity:
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That's how it is done.
Define the ZOO, as marked on the H1 chart.
Do the analyses when price gets there.
Keep your risk tight.
Go.
Trading S/R with PA only. No indicators anymore!
  • #5,216
  • Dec 16, 2019 2:31am Dec 16, 2019 2:31am
Quoting Jazz1964
Today's trading from my marked Zone of Opportunity: {image} That's how it is done. Define the ZOO, as marked on the H1 chart. Do the analyses when price gets there. Keep your risk tight. Go.
Well done Jazz
  • #5,217
  • Dec 16, 2019 3:07am Dec 16, 2019 3:07am
I'm done now too.
It hit my line before but still had the spread to go....
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  • #5,218
  • Dec 16, 2019 3:10am Dec 16, 2019 3:10am
I have turned the lads $60 into $502

He should be happy with that for Crissy.
  • #5,219
  • Dec 16, 2019 3:17am Dec 16, 2019 3:17am
Hi,

My server time is GMT+3, how to place the 108 cycle bars then. Should it coincide with 1 hour before London open in 1 Hour Chart?
  • #5,220
  • Dec 16, 2019 3:18am Dec 16, 2019 3:18am
Quoting Nala66
I'm done now too. It hit my line before but still had the spread to go.... {image}
That's a beauty Alan!
Trading S/R with PA only. No indicators anymore!
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