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Trading the Cable swings via averages

  • #5,381
  • Jan 16, 2020 6:44am Jan 16, 2020 6:44am
And that was the target, mentioned twice.
1.3072 and 1.3074 are previous swing highs H1
M5 divergence
10 pip reaction
Trading S/R with PA only. No indicators anymore!
  • #5,382
  • Jan 16, 2020 7:55am Jan 16, 2020 7:55am
Retraced meanwhile 50 procent back from the previous h1 ema swing high!!
And did that with m5 div on the top!

That's why Alan calls it the Cable Swing strategy
But i am afraid traders are glued to the divergences and then you can get lost.

Ema's + zoo in different forms + divergence
Trading S/R with PA only. No indicators anymore!
  • #5,383
  • Jan 16, 2020 12:24pm Jan 16, 2020 12:24pm
Quoting Jazz1964
Retraced meanwhile 50 procent back from the previous h1 ema swing high!! And did that with m5 div on the top! That's why Alan calls it the Cable Swing strategy But i am afraid traders are glued to the divergences and then you can get lost. Ema's + zoo in different forms + divergence
and see how it went to the previous h1 ema swing low with a m5 div at the low and completely retraced to that h1 ema swing high!!! At least thats what it did on my m5 chart with a 312 EMA Humps MA breaks line on it (26x12), but i dont see those ema swing lows on my H1 chart with a 26 EMA Humps MA breaks line on it, strange.
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  • #5,384
  • Jan 16, 2020 2:12pm Jan 16, 2020 2:12pm
Quoting huskyboy
{quote} ...At least thats what it did on my m5 chart with a 312 EMA Humps MA breaks line on it (26x12), but i dont see those ema swing lows on my H1 chart with a 26 EMA Humps MA breaks line on it, strange. {image}
I think that has to do with this behavior of the 26 EMA Humps indicator:


Attachment g

Problem is that the line should stay until the EMA breaks the horizontal line (and not Price itself).
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Trading S/R with PA only. No indicators anymore!
  • #5,385
  • Jan 17, 2020 3:57am Jan 17, 2020 3:57am
who got that drop, bear div H1 M5 at prev ema H1 swing high? Now see if the bears find support H1
  • #5,386
  • Jan 17, 2020 4:00am Jan 17, 2020 4:00am
I received this picture from a trader, who took the Short (just like me). Great to see this trading from a ZOO
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Trading S/R with PA only. No indicators anymore!
  • #5,387
  • Jan 17, 2020 4:06am Jan 17, 2020 4:06am
Quoting Jazz1964
I received this picture from a trader, who took the Short (just like me). Great to see this trading from a ZOO {image}
I got the move up not down lol
  • #5,388
  • Jan 17, 2020 4:09am Jan 17, 2020 4:09am
Quoting Jazz1964
I received this picture from a trader, who took the Short (just like me). Great to see this trading from a ZOO {image}
It still hard for me to look at both sides of the trade I guess in time it becomes easier
  • #5,389
  • Jan 17, 2020 4:16am Jan 17, 2020 4:16am
I had 2 short positions that got stopped out followed by the big drop.

Shame.
  • #5,390
  • Jan 17, 2020 4:20am Jan 17, 2020 4:20am
Quoting Jazz1964
I received this picture from a trader, who took the Short (just like me). Great to see this trading from a ZOO {image}
great Jazz, but were you trading before 108, there was a bear H1 div (first Arrow), price didn't get to the EMA ,so price went up and again it ended in a bear RSI/RSI div (second Arrow). How did you trade that, long or short?
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  • #5,391
  • Jan 17, 2020 4:52am Jan 17, 2020 4:52am
Quoting huskyboy
{quote} great Jazz, but were you trading before 108, there was a bear H1 div (first Arrow), price didn't get to the EMA ,so price went up and again it ended in a bear RSI/RSI div (second Arrow). How did you trade that, long or short? {image}
But we should of been looking for long s as we were above the 26 ema ?
  • #5,392
  • Edited 5:41am Jan 17, 2020 4:58am | Edited 5:41am
Quoting huskyboy
{quote} great Jazz, but were you trading before 108, there was a bear H1 div (first Arrow), price didn't get to the EMA ,so price went up and again it ended in a bear RSI/RSI div (second Arrow). How did you trade that, long or short? {image}
I didn't want to short before one of the ZOO's I had in mind:
1.3097 level visible on H4
1.3112 Swing High on H1

First I took a Long with one position with full risk because it was trading with the trend. Closed after the M5 bar closed at divergence.

Then I waited for the ZOO. The first one 1.3097 was obviously countertrend and I wanted to go for a 3-phase entry meaning the first position at lowest risk. I could not get a 2nd and 3rd and got stopped out for a tiny loss.

The next ZOO was just before the News. Divergences on H1 and M15 M5. Because of a possible spike, I decided to go for 1/3 risk with a manual SL.
Exit target was H1 EMA or the M5 M15 EMA swing lows, decided to go for the highest of them.

Attached Image (click to enlarge)
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That first Short that I took is from 1.3097 Level, horizontal resistance to be seen on H4.
Trading S/R with PA only. No indicators anymore!
  • #5,393
  • Jan 17, 2020 6:07am Jan 17, 2020 6:07am
Quoting PhillipmC
{quote} But we should of been looking for long s as we were above the 26 ema ?
Thx Phillip, i knew that but that bear div made me hesitate.
  • #5,394
  • Jan 17, 2020 6:10am Jan 17, 2020 6:10am
Quoting huskyboy
{quote} Thx Phillip, i knew that but that bear div made me hesitate.
Ye me too it's hard in the moment ay..
  • #5,395
  • Jan 17, 2020 6:14am Jan 17, 2020 6:14am
Quoting Jazz1964
{quote} I didn't want to short before one of the ZOO's I had in mind: 1.3097 level visible on H4 1.3112 Swing High on H1 First I took a Long with one position with full risk because it was trading with the trend. Closed after the M5 bar closed at divergence. Then I waited for the ZOO. The first one 1.3097 was obviously countertrend and I wanted to go for a 3-phase entry meaning the first position at lowest risk. I could not get a 2nd and 3rd and got stopped out for a tiny loss. The next ZOO was just before the News. Divergences on H1 and M15 M5....
Thx Jazz, the inportance off levels needs te become clearer in my mind, have to remember that divergences only are the mechanics to get to those levels and divergences around those levels needs to be respected. Lesson from today is that there was a bear div at H1 but not yet at a level, the M5 touched that level in divergence and that was the entry.
  • #5,396
  • Jan 17, 2020 7:10am Jan 17, 2020 7:10am
Quoting huskyboy
{quote} Thx Jazz, the inportance off levels needs te become clearer in my mind, have to remember that divergences only are the mechanics to get to those levels and divergences around those levels needs to be respected. Lesson from today is that there was a bear div at H1 but not yet at a level, the M5 touched that level in divergence and that was the entry.
That's well stated. The sooner you get that the better.
Trading S/R with PA only. No indicators anymore!
  • #5,397
  • Jan 17, 2020 6:28pm Jan 17, 2020 6:28pm
Quoting PhillipmC
{quote} But we should of been looking for long s as we were above the 26 ema ?
It is difficult for me to comment without charts for examples but you are correct to be looking for longs, however the situation changes when confronted with a div or several of them on the 1 hour chart. These would be ZOO hedges or scalps to the short side against the trend. All turnaround trades start off as scalps or hedges and develop into full blown trades.

Had anyone gone long at the 108 then they would have been stopped out for no loss having moved the stop to BE+1. The same thing would have happened even if they went short BE+1.

Then they may have shorted again on the 5 min div and again been stopped out for BE+1. Finally the 5 min price reached average swing high and this was the trigger to short again and paid the money.

The point is that with the money management in place we only lose a little if anything at all by moving the stop. By sticking to the plan 100% would have easily been achieved, indeed much more so even the past losses would have been made up.
  • #5,398
  • Jan 18, 2020 1:17pm Jan 18, 2020 1:17pm
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another fine entry on friday, ABCD on H1, bear support formed on H1 an price ran into C( and other levels) with a divergence on M5 and off to EMA swing low H1. realy have to find those inportant levels when live trading
  • #5,399
  • Edited 1:07pm Jan 20, 2020 12:48pm | Edited 1:07pm
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  • #5,400
  • Jan 21, 2020 2:44am Jan 21, 2020 2:44am
hard trading tonight
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