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Trading the Cable swings via averages

  • #5,221
  • Dec 16, 2019 3:19am Dec 16, 2019 3:19am
Quoting sspremj
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?
Indeed one hour before London Open
Trading S/R with PA only. No indicators anymore!
  • #5,222
  • Dec 16, 2019 3:36am Dec 16, 2019 3:36am
maybe not the best example but beeing very late at my desk i saw the bear support on the M15 placed and entered the bear div on the M5, targetting the 50% level(and ema swing low) around 1.33385, got stopped out for 24, could have made my target
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  • #5,223
  • Dec 16, 2019 3:38am Dec 16, 2019 3:38am
Quoting Jazz1964
{quote} Indeed one hour before London Open
Thanks,
  • #5,224
  • Dec 16, 2019 3:40am Dec 16, 2019 3:40am
This trade is so common it is well worth specialising in it so I have posted it all below.
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  • #5,225
  • Dec 16, 2019 3:45am Dec 16, 2019 3:45am
So you can see, apart from the entries, the measurements I have made to the 1 hour EMA and to the swing low EMA of the 5 min.

This tells me I have a good chance of getting the required 40 pips and more if required.

Remember when the EMA id going to break one level price will reach the next level. Which it did.
  • #5,226
  • Dec 16, 2019 3:50am Dec 16, 2019 3:50am
Quoting sspremj
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?
This is only an approximate time to start trading sometimes it is a little before and sometimes it is a little after. So don't get to hung up on it
  • #5,227
  • Dec 16, 2019 3:53am Dec 16, 2019 3:53am
It is these averages that we are measuring and trading so even if you are a tad late you can still get in
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  • #5,228
  • Dec 17, 2019 12:14am Dec 17, 2019 12:14am
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.
Hi Jazz, apart from the H1 div, do you have any other bias? It looks like a sup/res or sup/dem as you've drawn on H1.
  • #5,229
  • Edited 2:30am Dec 17, 2019 1:27am | Edited 2:30am
Quoting KevinOwens
{quote} Hi Jazz, apart from the H1 div, do you have any other bias? It looks like a sup/res or sup/dem as you've drawn on H1.
Hi Kevin,
It is trading below the H1 EMA which is making a Lower Low swing. My overall Bias is down. Possibly the election gap will be closed.
What a night. The second leg down started early today, missed it completely.
This is not a market where I feel comfortable, tbh.
Mainly I should try to get in short business from M5 M15 EMA.
But H1 completed an ABCD in divergence
Attached Image (click to enlarge)
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3243/3235 Asian low is obviously a level to watch for at least a retracement back. If we get there it seems to be with div. I will watch this on the M5 for an HD.

3186 previous resistance
3152 previous support and 3163 (edit) H1 EMA swing low
3124 M15 swing low
Trading S/R with PA only. No indicators anymore!
  • #5,230
  • Dec 17, 2019 2:22am Dec 17, 2019 2:22am
The Asian Low was butter.
I hope you guys also took the short from M5 EMA to grab the daily target in one trade.
Trading S/R with PA only. No indicators anymore!
  • #5,231
  • Dec 17, 2019 2:33am Dec 17, 2019 2:33am
Election gap closed! Price at the H1 EMA swing low.
Trading S/R with PA only. No indicators anymore!
  • #5,232
  • Dec 17, 2019 2:35am Dec 17, 2019 2:35am
Quoting Jazz1964
The Asian Low was butter. I hope you guys also took the short from M5 EMA to grab the daily target in one trade.
bull div M5 did not get across the ema so it was a good sign the move would continue in the original direction
  • #5,233
  • Dec 17, 2019 2:51am Dec 17, 2019 2:51am
Look how strong the EMA swing Low is. I took a bonus Long there, after price stalled with M1 div up, into the M1 EMA.
Trading S/R with PA only. No indicators anymore!
  • #5,234
  • Dec 17, 2019 2:56am Dec 17, 2019 2:56am
Quoting Jazz1964
The Asian Low was butter. I hope you guys also took the short from M5 EMA to grab the daily target in one trade.
Yep got in that one from the M5.
Pip Goes The Weasel
  • #5,235
  • Dec 17, 2019 3:05am Dec 17, 2019 3:05am
Quoting Jazz1964
Look how strong the EMA swing Low is. I took a bonus Long there, after price stalled with M1 div up, into the M1 EMA.
the M15 gave good signals to go long from the EMA swing and a huge reg bulldiv on the H1
you could have gotten your daily pips from the short and from the long
  • #5,236
  • Dec 17, 2019 4:56am Dec 17, 2019 4:56am
same as yesterday price reached he next EMA swing low on the M5 but can we say the same as yesterday : when the EMA is going to break one level, price will reach the next level?
  • #5,237
  • Dec 17, 2019 5:16am Dec 17, 2019 5:16am
Quoting huskyboy
same as yesterday price reached he next EMA swing low on the M5 but can we say the same as yesterday : when the EMA is going to break one level, price will reach the next level?
In a steady trend (defined by EMA Swings) ... yes. That's what this system is about.
Trading S/R with PA only. No indicators anymore!
  • #5,238
  • Dec 17, 2019 6:27am Dec 17, 2019 6:27am
Quoting Nala66
It is these averages that we are measuring and trading so even if you are a tad late you can still get in {image}
Hi Alan, thanks for all your posts this year, always makes great reading, have a great Xmas mate, also take care with that heat down there in SA

Cheers Mick
life is a reflection of what we allow ourselves to see
  • #5,239
  • Dec 17, 2019 6:18pm Dec 17, 2019 6:18pm
Cheers Mike and for all you guys following the thread have a great break and don't catch all the fish, leave some for me.
  • #5,240
  • Dec 17, 2019 6:57pm Dec 17, 2019 6:57pm
Quoting Jazz1964
{quote} Hi Kevin, It is trading below the H1 EMA which is making a Lower Low swing. My overall Bias is down. Possibly the election gap will be closed. What a night. The second leg down started early today, missed it completely. This is not a market where I feel comfortable, tbh. Mainly I should try to get in short business from M5 M15 EMA. But H1 completed an ABCD in divergence {image} 3243/3235 Asian low is obviously a level to watch for at least a retracement back. If we get there it seems to be with div. I will watch this on the M5 for an HD....
A couple of corrections to this chart...

This is where we paly detective and ignore the div because we can see where both the EMA and the price are heading. Any bull div is likely to fail.

Remember when the AVERAGE makes a LL price will reach the next level. Both ABCD's and AB = CD"s are the mechanisms for making these targets.

Attached Image (click to enlarge)
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Thanks to Jazz and others for posting their charts this is the only way I can tell what folks are thinking about. I can't read minds only charts so if you don't post how can I make corrections.

By drawing up your charts you also learn a lot more quickly about all the elements we consider and it becomes a winning habit to do so.
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