{quote} {image} I am a silent follower of this great thread and strategy and i am not following cable anymore, but when i read Alan's vieuw on that chart i needed to react and maybe i see things completely wrong, i still want to share what i saw on that chart. When you say Alan that there is no divergence in the US session, i immediately saw that RSI/RSI bull divergence in the M5, giving you an entry considering the oversold H1 RSI. The divergence was retested (hook) and gave the posible second entry. The final third entry could have been after...
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You are correct there was an RSI div that I missed on the 5 min.
Damn that was a fast move this morning
I missed the boat, did anyone manage to get that long with 3 trades on.
there was bull divergence on the 5 min chart
I was looking at a possible buy but at a slightly lower level around 1.31174 which is also the daily open level, and the 5 min ma level i thought this
would be a good zoo point, my 5 min ABC gave me
!.31258 which is where price shot up from.
Its taken me a while to learn this,now I will wait until tomorrow to look for trades.
Damn that was a fast move this morning I missed the boat, did anyone manage to get that long with 3 trades on. there was bull divergence on the 5 min chart I was looking at a possible buy but at a slightly lower level around 1.31174 which is also the daily open level, and the 5 min ma level i thought this would be a good zoo point, my 5 min ABC gave me !.31258 which is where price shot up from. Its taken me a while to learn this,now I will wait until tomorrow to look for trades.
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It was fast indeed, I got only 1 on but have since taken shorts and longs.
{quote} It was fast indeed, I got only 1 on but have since taken shorts and longs.
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Good job Alan
Yes I see some good bull support around 1.31404 for long scalps, I need more confidence to take anything after the initial move, as i have been burnt too much in the past.
I sold at the 60 ma and 5 min ma level zoo points, with some bear divergence only to be stopped out, by the bounce up from the 1.31068 area.
Reentered again sell at 1.31246 target is 1.30740 60 ma level
I sold at the 60 ma and 5 min ma level zoo points, with some bear divergence only to be stopped out, by the bounce up from the 1.31068 area. Reentered again sell at 1.31246 target is 1.30740 60 ma level
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I wouldn't base my TP on the 1 hour. it can and does pull back on you too much. Look at the 1 hour for ZOO points to be traded at the 5 min level.
{quote} I wouldn't base my TP on the 1 hour. it can and does pull back on you too much. Look at the 1 hour for ZOO points to be traded at the 5 min level. {image}
Someone asked about ZOO points... Well here on the 1 hour chart is a sampling of most of them over the last three days. I'll leave it to you guys to work out the why's and what nots. Add the chart to your diary for study. {image}
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Thank for the chart Alan, that makes it very clear and easy to understand when you show all the zoo points like that.
Trading the Cable swings via averages
