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Trading the Cable swings via averages

  • #6,061
  • Mar 12, 2020 2:50am Mar 12, 2020 2:50am
Darn it now it looks ok.
  • #6,062
  • Mar 12, 2020 2:51am Mar 12, 2020 2:51am
Quoting Nala66
{quote} I closed for 20 pips don't like the looks of this now.
Agree
Trading S/R with PA only. No indicators anymore!
  • #6,063
  • Mar 12, 2020 2:53am Mar 12, 2020 2:53am
Quoting huskyboy
{quote} but there was no signal on the M5
With a div on the hour look where the RSI was on the 5, how much lower would you expect it to go?
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  • #6,064
  • Mar 12, 2020 2:53am Mar 12, 2020 2:53am
Quoting huskyboy
{quote} but there was no signal on the M5
Now you make the M5 div more important than the EMA swings.
Price ended on M15 several Swing lows and on the M5 which you mentioned on exact EMA swing low.
That with RSI being relatively on low values when you look to the left.
Trading S/R with PA only. No indicators anymore!
  • #6,065
  • Mar 12, 2020 3:25am Mar 12, 2020 3:25am
bearish mode now, prev H1 bar bear div, no signal on M5 besides the high of the RSI
there was a bear signal M5 sorry
  • #6,066
  • Mar 12, 2020 3:30am Mar 12, 2020 3:30am
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Hourly already gave a bear div
M5 did it too
I was too picky
Trading S/R with PA only. No indicators anymore!
  • #6,067
  • Mar 12, 2020 3:33am Mar 12, 2020 3:33am
Quoting huskyboy
bearish mode now, prev H1 bar bear div, no signal on M5 besides the high of the RSI there was a bear signal M5 sorry
This time M5 did give a bear div,
plus we were on a swing level (grey)
Trading S/R with PA only. No indicators anymore!
  • #6,068
  • Mar 12, 2020 3:37am Mar 12, 2020 3:37am
can we draw this AB=CD
Attached Image (click to enlarge)
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  • #6,069
  • Mar 12, 2020 4:22am Mar 12, 2020 4:22am
You may be thinking there is no target for the hour but don't forget the good old 4 hour has a target and it has hit the 50% level.
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  • #6,070
  • Mar 12, 2020 4:24am Mar 12, 2020 4:24am
Quoting huskyboy
can we draw this AB=CD{image}
I wouldn't because A and B are not on opposite sides of the EMA so they are not swings but rather a continuation.
  • #6,071
  • Mar 12, 2020 4:39am Mar 12, 2020 4:39am
Just to remind one has to set the Triangle_Max Size value of Des' Target indicator to a much higher value than the default 48 pips if you want to get it drawing triangles on higher TF's like H4
Trading S/R with PA only. No indicators anymore!
  • #6,072
  • Mar 12, 2020 4:41am Mar 12, 2020 4:41am
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I think we may possibly have Daily targets as well !!

Cheers...Des
  • #6,073
  • Mar 12, 2020 5:28am Mar 12, 2020 5:28am
Quoting des_b
{image} I think we may possibly have Daily targets as well !! Cheers...Des
Des I think that one was cancelled. See how price pushed back up above the EMA when it came back below it did not set a new ABCD.

I think this is the way they are cancelled.
  • #6,074
  • Mar 12, 2020 5:31am Mar 12, 2020 5:31am
Finally I have made my profit. Some long most short.
  • #6,075
  • Mar 12, 2020 5:32am Mar 12, 2020 5:32am
Quoting Nala66
{quote} Des I think that one was cancelled. See how price pushed back up above the EMA when it came back below it did not set a new ABCD. I think this is the way they are cancelled.
Thanks Alan,
always great to get your input, I will hopefully get some time this weekend to have a look at the Indi and will incorporate this "Cancellation" into it

Cheers...Des
  • #6,076
  • Mar 12, 2020 5:34am Mar 12, 2020 5:34am
Quoting des_b
{quote} Thanks Alan, always great to get your input, I will hopefully get some time this weekend to have a look at the Indi and will incorporate this "Cancellation" into it Cheers...Des
I am not sure if this is a fact but it seems logical that there must be a way to cancel them.

Have to have a look at some past ones and see if this holds true.
  • #6,077
  • Mar 12, 2020 6:19am Mar 12, 2020 6:19am
So I missed the 108 entry long and missed the big short.
Both were there to grab by following the system.
I took a Long for -10 pips.
Took 3 BE+1
Then took a Short for 15 pips to get me in Green.
I am done for today to prepare a journey for tomorrow. I will be back on Monday. Enjoy weekend folks.
Trading S/R with PA only. No indicators anymore!
  • #6,078
  • Mar 12, 2020 6:27am Mar 12, 2020 6:27am
Quoting Jazz1964
{image} Hourly already gave a bear div M5 did it too I was too picky
Hi Jazz,
great trading this week (Again!), if you get a chance at some point in the next few days could you possibly expand on how you are able to place your trades at the extreme points, I have noticed how you are often buying and selling at the edges of moves. I appreciate the identification of Div's on ZOO points but when you have identified this as a Buy or Sell what makes you Buy and Sell at such good places. I appreciate this might be just down to experience and can't be quantified but would be great to get your perspective
Cheers...Des
  • #6,079
  • Mar 12, 2020 7:49am Mar 12, 2020 7:49am
Quoting des_b
{quote} Hi Jazz, great trading this week (Again!), if you get a chance at some point in the next few days could you possibly expand on how you are able to place your trades at the extreme points, I have noticed how you are often buying and selling at the edges of moves. I appreciate the identification of Div's on ZOO points but when you have identified this as a Buy or Sell what makes you Buy and Sell at such good places. I appreciate this might be just down to experience and can't be quantified but would be great to get your perspective Cheers...Des...
Hard to say indeed. I hesitate to answer this....Are you going to make rules out of it?
It should be a combination of:
Lot of GBPUSD chart time
I indeed focus a lot on Zoo's including the EMA swings and EMA itself, because they should do what is expected: turn price.
Often an extreme is formed at the close of a bar so I watch these bars to get to its close.
It sure has to do with this thought: I want to enter (e.g.) Long, ...where would I expect the Sellers to take profit (=doing the same I want to do = Buying)?
Because of the previous sentence, often it starts with a bit of a quicker move over a bit of a larger distance.
Trading S/R with PA only. No indicators anymore!
  • #6,080
  • Mar 12, 2020 8:35am Mar 12, 2020 8:35am
Thanks Jazz,
I will try to take on board what you said and incorporate it into my trading as I can definitely see the logic in trying to Buy/Sell at the extremes
Cheers...Des
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