Trading the Cable swings via averages

It hesitated a lot there, divergence indeed and pins.

Yeah, the peaks and valleys on RSI on the beginning of this thread, right?!

https://www.forexfactory.com/showthr...6#post11718316
https://www.forexfactory.com/showthr...6#post11726566
These posts contain good examples.

Thanks Jazz.

Jazz

This in my latest attempt at ABC triangle

Is it correct?

Del

I am successful with trading from a ZOO. As a kid I hated them because they stink, but the older I get, the more interested I am.
Today before 108 bar Price came into a Zoo (Zone of Opportunity) from Sunday night (H1 chart).
M5 showing divergence within both RSI's.
I Sold with a 3-step entry, 3rd entry a bit late probably. It worked. Reached my daily target via profit taking, bounce on M1 EMA, hesitation, and re-entry.

Look how beautiful the AB=CD worked. BC was 50% retracement. At D, Price ended after News a little above the M5 and M15 EMA Swing Low.

Here is your picture with a correction.

Got it?
(I am not sure if we normally call "A" what I called A on this picture but for the method that doesn't matter).

Now I am curious to see if the Bulls or the Bears will find support on the H1 EMA. That EMA is flattish now.
If the Bulls will get in control it might go to 1.3072.
If the Bears are going to do the job, than it's 1.2914 with the EMA printing a Lower Swing High

On H4 they are fighting its EMA.

.


Thanks Jazz

Nice work this morning Jazz.
Trading off the zoo.

H4 trying to find Bull support.
H1 Bulls defending their position in this resistant/Support area (upper pins yesterday / lower pins today)
M15 Bears found support
M5 Bears found support

I lost some up to now in that mess but I am short now

will keep it tight

Out at EMA swing low M15 M5

That exit at 1.30266 would have been a great entry Long up to the 1.3072

Nala´s on my (very small) list of best traders I know, and I´m not a newbie. Here´s a PowerPoint summary, of the key concepts from the first 10 pages.
In my understanding: trade between the levels of the HTF, enter on the first half, on the LTF.
I hope it is useful.
All the best.

That's a precise projection

Jazz, how to manage the SL off that second long, I first set it to BE +1, then after that pullback i placed it there and got stopped out. Do we let it at BE +1 and going for the target, next swing H1?
afk

A few notes on that.
I don't see that second entry as a separate trade, you are just more or less Long from that terrific Buy entry from the bottom (Well done!) So a BE+1 makes no sense to me.
Alan mentions he takes 50% exits which would have been executed. I doubt he will do that in this case.
The exit you took, a tiny bit below the noise, is almost asking for that to occur, which it did.

I suggest you draw EMA swing highs and swing lows as horizontal lines on your chart. You would have seen that M5 has 3 of such lines around current high. M15 has an exact swing high there..... time to get out of your trade! That's something like 30 pips from your first entry.
Check the exit of my short and several other exits which I posted lately. often at such highs and lows because I watch the swings and other S/R carefully.
Then check if (if!) you want to buy again, cheaper.

Also there are the hedges. I am not a specialist on that.
In this case, I don't see a div at the top, so no hedge this time.

like you say, no divergence up there so I guessed it would go higher, thx Jazz