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Trading the Cable swings via averages

  • #6,561
  • Aug 31, 2020 1:00am Aug 31, 2020 1:00am
Quoting 4xscholar
Hi Guys, Does the creation of a telegram group mean there will be less participation in this thread?
Not at all, I am happy to answer any questions.
  • #6,562
  • Aug 31, 2020 1:02am Aug 31, 2020 1:02am
Quoting Nala66
{quote} Not at all, I am happy to answer any questions.
Thank you Alan, I will continue to read the rest of the thread and ask questions where I am stuck.
Hope is the worst indicator...
  • #6,563
  • Aug 31, 2020 6:56pm Aug 31, 2020 6:56pm
Yesterdays ABCD formed early but then took ages to get underway. It seems like it was waiting for me to quit for the day. Anyway it took price to the 3389 level creating a very nice impulse bar to drag the EMA higher.

To me it looks like the action is starting some six or seven hours after the London open which doesn't seem to tie in with anything timewise'
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  • #6,564
  • Sep 1, 2020 1:26am Sep 1, 2020 1:26am
Quoting Nala66
Yesterdays ABCD formed early but then took ages to get underway. It seems like it was waiting for me to quit for the day. Anyway it took price to the 3389 level creating a very nice impulse bar to drag the EMA higher. To me it looks like the action is starting some six or seven hours after the London open which doesn't seem to tie in with anything timewise' {image}
I watched this 70+pip move unfold but had no confidence in taking it. However after reviewing, I realized that there was an RSI Div on M5 and H1. I am relatively new to trading, still trying to make sense of a lot of things. This method however is probably the simplest I have seen.

You mentioned in the thread that we have to take inference from the 1h chart for direction, do I have to draw the EMA swing high/low on the 1 hr as well? I ask because there are instances where they are drawn on 5m as well.

My take on the action yesterday:

I went short on RSI Div and closed the trade when there was another RSI Div(This is where you would hedge, but I am not there yet).
Question is where the oval is: Is this where Bears find support and a place to add a short entry? Was there an entry hear based on one of the Div's? I have also recently learned of hidden div, maybe that?
Last entry was long based on RSI Div. The area is also a level where an average made a swing high in the past.

Thank you again Alan for putting all this together, its an eye opener.
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Hope is the worst indicator...
  • #6,565
  • Sep 1, 2020 7:44pm Sep 1, 2020 7:44pm
Quoting 4xscholar
{quote} I watched this 70+pip move unfold but had no confidence in taking it. {image}
You make the chart look simple but even on this five min chart there is a lot going on. You have to draw on the EMA swing levels because these form the target levels in the future. Once the EMA fails to test the lows it then turns to test the highs, if the EMA is going to test the highs then certainly the price has to go beyond this level to drag the EMA behind it.

Note that after each div there is a hook retesting the div, pending orders are placed above or below these hooks depending on the expected direction. Where you had stopped out was also a hook entry long.

Where you had Out was where the hedge would go expecting the hook. Note how price only made it back about 50% to you In position but failed to cross the EMA because it is a downtrend and not the time to turn the EMA yet.

As I said a lot going on here and not as simple as you imagine.
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  • #6,566
  • Sep 2, 2020 6:06am Sep 2, 2020 6:06am
Good day All,

I took 3 trades today as shown in the pic below. However, I closed them all where I marked "Price-RSI Div". At this point I was aware price has not reached the target in the dotted line below. Needless to say, price went all the way down to test the swing low.

Is there information I need to look at on the chart to tell me to hold the trades or close?

Attached Image
Hope is the worst indicator...
  • #6,567
  • Sep 2, 2020 8:50am Sep 2, 2020 8:50am
Quoting 4xscholar
Good day All, I took 3 trades today as shown in the pic below. However, I closed them all where I marked "Price-RSI Div". At this point I was aware price has not reached the target in the dotted line below. Needless to say, price went all the way down to test the swing low. Is there information I need to look at on the chart to tell me to hold the trades or close? {image}
Unfortunately this happens sometimes when the div is ignored because the price has a target objective.

Because you are taking the inference from the 5 min so it becomes a ZOO point you should drop to the 1 minute to see if that indicated a long.

That is about all you can do in this situation.
  • #6,568
  • Sep 2, 2020 9:27am Sep 2, 2020 9:27am
Thank you Alan,

I need to go over the "ZOO Point section" of this thread to understand them better.
Hope is the worst indicator...
  • #6,569
  • Sep 2, 2020 9:30am Sep 2, 2020 9:30am
Quoting Nala66
Intro. My name is Alan, been trading for donkeys years. Now specialise in trading Cable only via a very effective but simple method based upon the evidence presented by the market and not what I may think will happen down the track. I am going to start this thread with the chart setups and then move on to what to look for, timing, targeting, money management etc.. and whatever else I find relevant at the time of writing. Overview... If you don't believe Price is always trying to make HH or LL averages then it is pointless for you to continue reading...


Guys please I'm new in the forex community and I'm now catching up. A fried have me an EA. All it's parameters are accurate and I've been able to mount it successfully on its pair. The smiling emoji is present and there are no recorded errors in the journal section. A backrest give a positive feed without any error. Till now,it's not been able to initiate a trade pair. Please I need help.
  • #6,570
  • Sep 2, 2020 8:57pm Sep 2, 2020 8:57pm
Quoting 4xscholar
Thank you Alan, I need to go over the "ZOO Point section" of this thread to understand them better.
ZOO or Zone Of Opportunity simply means that a higher time frame indicates a level where something may be about to happen so we drop to a lower time frame to get confirmation of this happening.
  • #6,571
  • Sep 2, 2020 9:09pm Sep 2, 2020 9:09pm
Quoting SirRichie
{quote} Guys please I'm new in the forex community and I'm now catching up. A fried have me an EA. All it's parameters are accurate and I've been able to mount it successfully on its pair. The smiling emoji is present and there are no recorded errors in the journal section. A backrest give a positive feed without any error. Till now,it's not been able to initiate a trade pair. Please I need help.
Not sue what you are asking here. I don't get involved with EA's and such.
  • #6,572
  • Sep 2, 2020 11:16pm Sep 2, 2020 11:16pm
Quoting Nala66
{quote} ZOO or Zone Of Opportunity simply means that a higher time frame indicates a level where something may be about to happen so we drop to a lower time frame to get confirmation of this happening.
These will come in handy to avoid closing trades early. Thank you
Hope is the worst indicator...
  • #6,573
  • Sep 4, 2020 12:25am Sep 4, 2020 12:25am
Good day,

Yesterday's charts showed me flames. I managed to catch the long(Not marked on the chart) at London open. The 1H was in Bearish Div 2 hrs later, I am completely missing the signals on the 5 min chart for the short entry. Can I please have assistance identifying these?

The dotted line on the M5 is a previous swing high/low.

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Hope is the worst indicator...
  • #6,574
  • Sep 4, 2020 3:10am Sep 4, 2020 3:10am
Tonight I was looking for a pullback on the hr as it was in divergence

.. my 3 entries as below. I was working on the 5 min but snapped it on the one min.

The main thing to always remember is the swing's on the EMA, as price behaviour erratically around it, but the swings give you a sensible direction IMO
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life is a reflection of what we allow ourselves to see
  • #6,575
  • Sep 4, 2020 3:20am Sep 4, 2020 3:20am
Crossed the hour ema and looking for support, On the 5min, the last 3 swings have been broken but is overbought
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life is a reflection of what we allow ourselves to see
  • #6,576
  • Sep 4, 2020 3:23am Sep 4, 2020 3:23am
stop at BE
life is a reflection of what we allow ourselves to see
  • #6,577
  • Sep 4, 2020 3:26am Sep 4, 2020 3:26am
waiting for a long entry
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life is a reflection of what we allow ourselves to see
  • #6,578
  • Sep 4, 2020 3:43am Sep 4, 2020 3:43am
longs away
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life is a reflection of what we allow ourselves to see
  • #6,579
  • Sep 4, 2020 3:55am Sep 4, 2020 3:55am
second entry already in profit, waiting for the next failure, very profitable evening
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life is a reflection of what we allow ourselves to see
  • #6,580
  • Sep 4, 2020 4:06am Sep 4, 2020 4:06am
price is dragging the ema up to 13008 ish
life is a reflection of what we allow ourselves to see
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