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Trading the Cable swings via averages

  • #5,561
  • Feb 5, 2020 1:57am Feb 5, 2020 1:57am
It has changed tack towards the 3040, I scalped a couple and out now
  • #5,562
  • Feb 5, 2020 2:02am Feb 5, 2020 2:02am
Quoting Nala66
It has changed tack towards the 3040, I scalped a couple and out now
Now that target is hit...Now what?
  • #5,563
  • Feb 5, 2020 2:42am Feb 5, 2020 2:42am
Quoting Nala66
{quote} Now that target is hit...Now what?
Is this a valid current set up on the 60m?
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  • #5,564
  • Feb 5, 2020 2:46am Feb 5, 2020 2:46am
Quoting mayflower
{quote} Is this a valid current set up on the 60m? {image}
see my post 5552, i placed my B on the lowest RSI point, you placed yours on the lowest price point
  • #5,565
  • Feb 5, 2020 2:55am Feb 5, 2020 2:55am
Quoting huskyboy
{quote} see my post 5552, i placed my B on the lowest RSI point, you placed yours on the lowest price point
I take your point but what confuses me is that Alan put his B on the lowest price close in post 5554
  • #5,566
  • Feb 5, 2020 3:04am Feb 5, 2020 3:04am
Quoting mayflower
{quote} I take your point but what confuses me is that Alan put his B on the lowest price close in post 5554
then maybe its better to wait for Alan
  • #5,567
  • Feb 5, 2020 4:20am Feb 5, 2020 4:20am
Quoting mayflower
{quote} Is this a valid current set up on the 60m? {image}
No
  • #5,568
  • Feb 5, 2020 4:27am Feb 5, 2020 4:27am
Quoting mayflower
{quote} I take your point but what confuses me is that Alan put his B on the lowest price close in post 5554
Well spotted I guess I made a mistake there in post 5554 I was rushing through getting the info down pat.

It should have been on the RSI low.

This is how I currently have my 1 hour chart...
Attached Image (click to enlarge)
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I scalped this long to the Support/resistance level
  • #5,569
  • Feb 5, 2020 4:39am Feb 5, 2020 4:39am
Thanks Alan and Huskyboy
  • #5,570
  • Feb 5, 2020 4:39am Feb 5, 2020 4:39am
Quoting mayflower
{quote} Is this a valid current set up on the 60m? {image}
What you have there is a regular bullish divergence at that bottom spike.

This returns the price to the EMA whereupon it crossed and formed the ABCD giving us the target of D.

Exactly the same situation as the drawing in 5554.

It is just about always the same. Starts with a div, then an ABCD to give the target but we must always be mindful of the 50% level.
  • #5,571
  • Feb 5, 2020 4:43am Feb 5, 2020 4:43am
I closed at the resistance because the bulls have not yet produced a support. They normally require one to take out the other.

So now I am expecting the bulls to find a support on the hour so they can take out the resistance and move on to the D target.
  • #5,572
  • Feb 5, 2020 4:49am Feb 5, 2020 4:49am
Here I have made additions to show the possible bull support. This is all part of the journey up to 3153 which may be stopped by a bear div.
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  • #5,573
  • Feb 5, 2020 4:52am Feb 5, 2020 4:52am
Get's a tad complicated hey! How long did it take to learn to read and write.
  • #5,574
  • Feb 5, 2020 1:27pm Feb 5, 2020 1:27pm
Quoting asoriga
I'm in the US so I try and trade the 16:00 so I usually begin looking at charts around 15:00. Would this be a more acceptable plan of action given my start time. I take inference from the 1HR bear div, zoom into the 5M and take the bear RSI div that broke the 1HR ZOO level at 1.3131. It fails to return price back to 1HR 26 ema so we now expect price move to the next ZOO at 1.3153. We ignore all bear div signals because of this and only look to take them if presented at 1.3153. Now do I take the first bear RSI div in the 5M chart at ZOO 1.3153, or...
lastly i noticed some H1 divergence and Jazz simply answered: " I trade from ZOO's". I think thats your main problem too, seeing divergences everywhere but not all are tradeble.
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Oh yes you point out a bear div (red lines in your chart) but that isn't one, you have to connect the close with a close of a bar.
  • #5,575
  • Feb 5, 2020 5:22pm Feb 5, 2020 5:22pm
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There we go bulls couldn't find support and bears changed the direction down to the lower D target...amazing huh!

The EMA has now made the LL.

This goes to show how we cannot think trades we have to go by the evidence presented to us.
  • #5,576
  • Feb 6, 2020 2:20am Feb 6, 2020 2:20am
This goes to show how we cannot think trades we have to go by the evidence presented to us.

+++++++++... i make that mistake almost daily..trying not to make it right now on the adud
  • #5,577
  • Feb 6, 2020 2:24am Feb 6, 2020 2:24am
20 pip range

ABCD M15 and M30 both have D @ 29715
  • #5,578
  • Feb 6, 2020 2:35am Feb 6, 2020 2:35am
Quoting huskyboy
20 pip range ABCD M15 and M30 both have D @ 29715
MM I have just a ten pip range
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  • #5,579
  • Feb 6, 2020 2:42am Feb 6, 2020 2:42am
Quoting Nala66
{quote} MM I have just a ten pip range {image}
sorry Alan but I don't have that ABCD
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  • #5,580
  • Feb 6, 2020 3:16am Feb 6, 2020 3:16am
is the H1 EMA going to break the 29931 or are the bulls going to stop it?
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