Trading the Cable swings via averages | Page 302 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Identifying Market Swings - Medium and Long Term Trading 619 replies

Trading With Moving Averages 72 replies

Moving Averages Zone Trading 10 replies

HELP! GMMA (Guppy's Multi-Moving Averages) Trading Mehod 3 replies

Via indicator: trading xxxyyy via zzz 0 replies

Attachments: Trading the Cable swings via averages
Exit Attachments

Trading the Cable swings via averages

  • #6,021
  • Mar 10, 2020 10:38pm Mar 10, 2020 10:38pm
For your diary of events

So the bulls could not take out the bear support suggesting the target is to the short side on the hour chart.

On the 5 min we saw the bulls unable to break the swing high level...so they are going to test the swing low which they did.

They smashed this to test both the next level and subsequently the one after also. If you pair them off as I have done you will see if the average is to make the lower low then the price will reach the next level.

Note how when price reached this final level on the 5 min it was a div, so we go long if we want more money than we can poke a stick at.

This whole process took a whole day but paid very nicely. I don't like to be in a trade for so long, in fact I would have been asleep for most of this.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 96 KB
  • #6,022
  • Mar 11, 2020 2:02am Mar 11, 2020 2:02am
WOW that was quick! Shame I had my security EA set to 50 pips TP
Trading S/R with PA only. No indicators anymore!
  • #6,023
  • Mar 11, 2020 2:05am Mar 11, 2020 2:05am
hope nobody has been killed
Trading S/R with PA only. No indicators anymore!
  • #6,024
  • Mar 11, 2020 2:11am Mar 11, 2020 2:11am
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 250 KB
Trading S/R with PA only. No indicators anymore!
  • #6,025
  • Mar 11, 2020 2:12am Mar 11, 2020 2:12am
Quoting Jazz1964
WOW that was quick! Shame I had my security EA set to 50 pips TP
I choose to stay away. Congratulations on your quick 50pips trade. However, can you please tell me your entry criteria and any zoos? I can't figure out how I could've entered it.
Edit: You just posted it. Thanks!
  • #6,026
  • Mar 11, 2020 2:20am Mar 11, 2020 2:20am
Look where the spike stopped on the H4
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 59 KB
Trading S/R with PA only. No indicators anymore!
  • #6,027
  • Mar 11, 2020 2:28am Mar 11, 2020 2:28am
Quoting Jazz1964
Look where the spike stopped on the H4 {image}
Oh yes! like a bill hitting the wall and bouncing back.
  • #6,028
  • Mar 11, 2020 2:55am Mar 11, 2020 2:55am
I missed out on the short but just caught the long nicely....Out now
  • #6,029
  • Mar 11, 2020 2:56am Mar 11, 2020 2:56am
Quoting Jazz1964
Look where the spike stopped on the H4 {image}
That is where I went long Jazz
  • #6,030
  • Mar 11, 2020 3:09am Mar 11, 2020 3:09am
Quoting Nala66
{quote} That is where I went long Jazz
Terrific.
That's what i wrote in the past, I want to have the flexibility and speed to look for such spots to reverse.
At the other hand, an unexpected bank rate decision like today can end up with a far bigger spike than we saw right now.
Trading S/R with PA only. No indicators anymore!
  • #6,031
  • Mar 11, 2020 3:12am Mar 11, 2020 3:12am
Sold at 1.29346
Trading S/R with PA only. No indicators anymore!
  • #6,032
  • Mar 11, 2020 3:37am Mar 11, 2020 3:37am
Quoting Jazz1964
{quote} Terrific. That's what i wrote in the past, I want to have the flexibility and speed to look for such spots to reverse. At the other hand, an unexpected bank rate decision like today can end up with a far bigger spike than we saw right now.
Well when the short was on I had just gone to the loo so I missed that.

On my 5 min chart I have the swing levels for each time frame colour coded the same as the EMA for those time frames so I can see just by looking at the 5 min where the various levels are. I was ready to add another trade if this pulled a few pips more down to the daily S1 which it failed to hit by about 5 pips.

Seeing everything was oversold on the lower time frames I figured price had to pull up somewhat and it did well past the C level of the ABCD 4H.

This is all part of my preparation process. Looking for the possible levels and marking the 5 min with them.
  • #6,033
  • Mar 11, 2020 3:39am Mar 11, 2020 3:39am
Quoting Jazz1964
Sold at 1.29346
See I would not have done that because the 5min failed to make the swing low LL so it should make the HH. Price has done that but there is a huge open space to the next level.

Sorry about the chart delay I had to clean it up a tad..
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 61 KB
  • #6,034
  • Mar 11, 2020 3:46am Mar 11, 2020 3:46am
Whoops I have cleaned off the swing low green line.... You guys should have it on your chart anyway
  • #6,035
  • Mar 11, 2020 3:49am Mar 11, 2020 3:49am
Quoting Nala66
{quote} Well when the short was on I had just gone to the loo so I missed that. On my 5 min chart I have the swing levels for each time frame colour coded the same as the EMA for those time frames so I can see just by looking at the 5 min where the various levels are. I was ready to add another trade if this pulled a few pips more down to the daily S1 which it failed to hit by about 5 pips. Seeing everything was oversold on the lower time frames I figured price had to pull up somewhat and it did well past the C level of the ABCD 4H. This is all...
Let me think on that, Prolly I have a question for you.

But now I need to watch my new short for a bit. BTW nice entry at the exact top.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 6 KB

Yes my bias is still down, although I have seen the M5 Bull support.
Talking about a bonus trade here. Risk is -0.5 pip and target M5 EMA Swing Low.
Trading S/R with PA only. No indicators anymore!
  • #6,036
  • Mar 11, 2020 3:55am Mar 11, 2020 3:55am
Last week we talked about the BE+1 exits which occurs often.
I then said they happen more often when our entries are weak.
On today's chart you can see how I try to enter on extremes, to the rate of BE+1 exits becomes smaller.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 54 KB

Yes, my second short is a BE+1 while I could have taken profit just above the M5 EMA (or as soon as the M5 bull support was proven) but this is a bonus trade for me (low risk exit or big profit).
Trading S/R with PA only. No indicators anymore!
  • #6,037
  • Mar 11, 2020 4:00am Mar 11, 2020 4:00am
Quoting Nala66
{quote} Well when the short was on I had just gone to the loo so I missed that. On my 5 min chart I have the swing levels for each time frame colour coded the same as the EMA for those time frames so I can see just by looking at the 5 min where the various levels are. I was ready to add another trade if this pulled a few pips more down to the daily S1 which it failed to hit by about 5 pips. Seeing everything was oversold on the lower time frames I figured price had to pull up somewhat and it did well past the C level of the ABCD 4H. This is all...
Can you please elaborate a bit on the Daily S1 level, with a chart please? Looks like I am lost on that.

Very nice that you have the Swing leveld of HTF charts on your M5. That sure should help.
Trading S/R with PA only. No indicators anymore!
  • #6,038
  • Mar 11, 2020 4:11am Mar 11, 2020 4:11am
Quoting Nala66
{quote} See I would not have done that because the 5min failed to make the swing low LL so it should make the HH. Price has done that but there is a huge open space to the next level. Sorry about the chart delay I had to clean it up a tad.. {image}
It is important that you mention that, I kinda stand corrected.
Though we were at a ZOO in div, so it is not bad to expect a move to the M5 EMA, which it almost touched with a 22 pips move.
Trading S/R with PA only. No indicators anymore!
  • #6,039
  • Mar 11, 2020 4:27am Mar 11, 2020 4:27am
And there we go... The 5 min makes the HH average.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 56 KB
  • #6,040
  • Mar 11, 2020 4:32am Mar 11, 2020 4:32am
Quoting Jazz1964
{quote} Can you please elaborate a bit on the Daily S1 level, with a chart please? Looks like I am lost on that. Very nice that you have the Swing leveld of HTF charts on your M5. That sure should help.
Yeah Jazz I keep the daily pivots on my 15 min chart because I don't use it much. When the pivots line up approximately with targets then it gives added confirmation.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 44 KB
7 traders viewing now