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Trading the Cable swings via averages

  • #5,821
  • Feb 21, 2020 2:57am Feb 21, 2020 2:57am
It should be the case if the EMA is to take out the HH at A then price should run to B... But which B?
  • #5,822
  • Feb 21, 2020 3:16am Feb 21, 2020 3:16am
Quoting Nala66
It should be the case if the EMA is to take out the HH at A then price should run to B... But which B?
It all depends on the speed of the move, don't you think?
a 50% retracement will be at the ABCD target.
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Trading S/R with PA only. No indicators anymore!
  • #5,823
  • Feb 21, 2020 3:22am Feb 21, 2020 3:22am
Quoting Jazz1964
{quote} It all depends on the speed of the move, don't you think? a 50% retracement will be at the ABCD target. {image}
Well I was watching on my 15 min chart where I have the daily pivots and it ran exactly to R1 so far
  • #5,824
  • Feb 21, 2020 3:25am Feb 21, 2020 3:25am
Quoting Jazz1964
{quote} It all depends on the speed of the move, don't you think? a 50% retracement will be at the ABCD target. {image}
Yes Jazz when the distances are much wider then the action tends to move much more quickly to get the job done.

To me the distances are narrow so not much on offer unless one holds for a long time.
  • #5,825
  • Feb 21, 2020 3:32am Feb 21, 2020 3:32am
It is not far to that 1H target so it can take its sweet time.

It did make that second B so excuse me while I go away and cry a little with the anguish of it all.
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  • #5,826
  • Feb 21, 2020 3:35am Feb 21, 2020 3:35am
Really I should just have moved my stop to BE+1 and then let the trade run to the 1H target. That is the trouble with sitting and watching the trade... We freak ourselves out for no reason.
  • #5,827
  • Feb 21, 2020 3:36am Feb 21, 2020 3:36am
need to enter faster, no hesitation and hedges still are a problem for me
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  • #5,828
  • Feb 21, 2020 3:37am Feb 21, 2020 3:37am
Quoting Nala66
Really I should just have moved my stop to BE+1 and then let the trade run to the 1H target. That is the trouble with sitting and watching the trade... We freak ourselves out for no reason.
excactly
  • #5,829
  • Feb 21, 2020 4:11am Feb 21, 2020 4:11am
Thanks Jazz for post 5801, sorted. Also post 5820, very informative.
However, I could do with some help understanding how to put Des's indicator into my MT4 please.
  • #5,830
  • Feb 21, 2020 4:20am Feb 21, 2020 4:20am
Quoting Nala66
Really I should just have moved my stop to BE+1 and then let the trade run to the 1H target. That is the trouble with sitting and watching the trade... We freak ourselves out for no reason.
No no no Nala66,
Unless it is a bonus trade,
you'll have to sit behind your screens and manage your positions properly.
Trading S/R with PA only. No indicators anymore!
  • #5,831
  • Feb 21, 2020 4:29am Feb 21, 2020 4:29am
Quoting mayflower
Thanks Jazz for post 5801, sorted. Also post 5820, very informative. However, I could do with some help understanding how to put Des's indicator into my MT4 please.
dont have the time to explain, sorry, but google it; here's one link that might help
https://learn.tradimo.com/metatrader...n-metatrader-4
  • #5,832
  • Feb 21, 2020 4:33am Feb 21, 2020 4:33am
Quoting mayflower
Thanks Jazz for post 5801, sorted. Also post 5820, very informative. However, I could do with some help understanding how to put Des's indicator into my MT4 please.
Do you have teamviewer?
if yes, via personal message send me your ID and login and we'll sort it out
Trading S/R with PA only. No indicators anymore!
  • #5,833
  • Feb 21, 2020 4:57am Feb 21, 2020 4:57am
Quoting Jazz1964
{quote} No no no Nala66, Unless it is a bonus trade, you'll have to sit behind your screens and manage your positions properly.
That's very true Jazz but these days I am happy with a few pips per day.
  • #5,834
  • Feb 21, 2020 5:01am Feb 21, 2020 5:01am
I am more interested in the research, trying to figure why things happen.

For example look at this my 1H chart. In blue I have drawn what could possibly be a different ABCD waiting to see the result and then see if this happens a lot. It could be how the market makes corrections, who knows not me, YET
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  • #5,835
  • Feb 21, 2020 2:03pm Feb 21, 2020 2:03pm
2 M5 AB=CD's did the job, H1 ABCD filled
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  • #5,836
  • Feb 21, 2020 4:54pm Feb 21, 2020 4:54pm
Quoting huskyboy
2 M5 AB=CD's did the job, H1 ABCD filled {image}
Very good and well spotted that man, now all we need do is teach you to draw them correctly...Example below.
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  • #5,837
  • Feb 21, 2020 5:42pm Feb 21, 2020 5:42pm
For your diary of events...

I'll let you guys supply your own wordage.
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  • #5,838
  • Feb 22, 2020 12:10am Feb 22, 2020 12:10am
Quoting Nala66
{quote} Very good and well spotted that man, now all we need do is teach you to draw them correctly...Example below. {image}

Alan

Many thanks for this wonderful thread and you time to guiding us on this wondeful method.


I have 2 questions on AB=CD

1.do you ignore RSI in these cases? some of them will give a Continuation DIV in RSI i presume.

2. If I have missed the first leg of the AB , i want to join the CD part , where do you think it's a sensible place to put the Stop loss?
  • #5,839
  • Feb 22, 2020 12:31am Feb 22, 2020 12:31am
Quoting Del62a
{quote} Alan Many thanks for this wonderful thread and you time to guiding us on this wondeful method. I have 2 questions on AB=CD 1.do you ignore RSI in these cases? some of them will give a Continuation DIV in RSI i presume. 2. If I have missed the first leg of the AB , i want to join the CD part , where do you think it's a sensible place to put the Stop loss?
1) for the construction of an AB = CD we do not need the RSI. Actually we don't need it for the ABCD either because the 26EMA serves the same purpose.

2) As price pulls back to the 50% level C on the 1 hour chart it forms a ZOO point for us to look at on the 5 and 1 min charts, if we can see a short signal there then have a go with a low risk entry, then let the money management take over to make the much bigger profit.
  • #5,840
  • Feb 22, 2020 12:37am Feb 22, 2020 12:37am
Quoting Nala66
{quote} 1) for the construction of an AB = CD we do not need the RSI. Actually we don't need it for the ABCD either because the 26EMA serves the same purpose. 2) As price pulls back to the 50% level C on the 1 hour chart it forms a ZOO point for us to look at on the 5 and 1 min charts, if we can see a short signal there then have a go with a low risk entry, then let the money management take over to make the much bigger profit.
Alan

many thanks . It make sense about the SL placement in the retracement.
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