Trading the Cable swings via averages | Page 337 | 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

  • #6,721
  • Dec 14, 2020 9:11pm Dec 14, 2020 9:11pm
Quoting Michele2020
{quote} I can see clearly on your chart that the bulls failed to break the 50%...but yours is the previous one...meaning the one detected by me is wrong?
Yes the red one.

A =Apex
B = Bottom
C is the Challenging pivot attacking the next pivot on the left which is B
  • #6,722
  • Dec 14, 2020 9:51pm Dec 14, 2020 9:51pm
Quoting Michele2020
Good Morning Alan, This is the setup I could work out for today. On the H1 chart, I think we have an ABCD kind of pattern, but it seams that prices are not going to follow it on the upside. Is this correct? Are the 2 support areas market correctly? if not, why? I tried to draw the target lines for the H1. Are there any others in the way? For some reasons, I am totally unable to draw the targets on the M5....really not confident with any of them. Thanks.{image}{image}
Hi Michele,

Your lines must not cut through peaks/valleys when you are looking for divs as highlighted in the chart
Attached Image (click to enlarge)
Click to Enlarge Name: 2b6d9d6b26f4bd3f1b30cdd6c02f9ae4.png Size: 213 KB
Hope is the worst indicator...
  • #6,723
  • Dec 14, 2020 11:41pm Dec 14, 2020 11:41pm
Quoting 4xscholar
{quote} Hi Michele, Your lines must not cut through peaks/valleys when you are looking for divs as highlighted in the chart {image}
Hi, thanks a lot for pointing this out. Was totally unaware....thanks!!
  • #6,724
  • Dec 15, 2020 8:15am Dec 15, 2020 8:15am
Well on H1 i saw a little divergence near support, switched to m5 to find rsi/price divergence
Started selling but got stoped out.
The bullish divergence would be a fast winner but at this point i stoped trading
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Captura de tela de 2020-12-15 13-05-50.png Size: 81 KB
Click to Enlarge Name: Captura de tela de 2020-12-15 13-11-14.png Size: 77 KB
MTN
  • #6,725
  • Dec 18, 2020 11:04pm Dec 18, 2020 11:04pm
Quoting mayflower
{quote} try going to post 60
Thanks for the help.
The system looks good, yet to trade it as spotting the divergences needs a bit of practice. It's easy to overlook them.
On an average how many setups per day occur on the M5?


Thank you, Alan for sharing your system.
  • #6,726
  • Dec 19, 2020 3:48pm Dec 19, 2020 3:48pm
Hello Alan here i am again kkk.

There a few things i do not understand yet.

-When you say that you look for shorts below The ema you mean the h1 ema?
- When you se a divergence on m5 do you take a stage 1 Lot at The divergence or you wait for a Cross above/below price?

Thank you
MTN
  • #6,727
  • Dec 21, 2020 3:31am Dec 21, 2020 3:31am
Quoting DuncanMac
{quote} Thanks for the help. The system looks good, yet to trade it as spotting the divergences needs a bit of practice. It's easy to overlook them. On an average how many setups per day occur on the M5? Thank you, Alan for sharing your system.
The point is to only take a tentative trade until we become more enthusiastic about being correct and then compound the profits with additional entries to reach our daily objective.

It is not a question of how many entries per day but has more to do with which way London is taking the price. We cannot trade all day else we would go nuts.
  • #6,728
  • Dec 21, 2020 3:34am Dec 21, 2020 3:34am
Quoting Marcelomtn
Hello Alan here i am again kkk. There a few things i do not understand yet. -When you say that you look for shorts below The ema you mean the h1 ema? - When you se a divergence on m5 do you take a stage 1 Lot at The divergence or you wait for a Cross above/below price? Thank you
Basically I mainly use the five min chart with the higher time frames suggesting the direction to look for. So yes if we are below the 5min EMA I am looking to short until the situation changes.
  • #6,729
  • Dec 21, 2020 10:40pm Dec 21, 2020 10:40pm
Quoting Nala66
{quote} The point is to only take a tentative trade until we become more enthusiastic about being correct and then compound the profits with additional entries to reach our daily objective. It is not a question of how many entries per day but has more to do with which way London is taking the price. We cannot trade all day else we would go nuts.
I did some backtracking looking for setups and found some good moves were indicated by the system.

Is there any special reasoning for using a divergence between the Rsi5 and Rsi14, as compared to Rsi to price?
Do you consider this type of divergence more significant or accurate?
  • #6,730
  • Dec 22, 2020 12:14am Dec 22, 2020 12:14am
Quoting DuncanMac
{quote} I did some backtracking looking for setups and found some good moves were indicated by the system. Is there any special reasoning for using a divergence between the Rsi5 and Rsi14, as compared to Rsi to price? Do you consider this type of divergence more significant or accurate?
There are many ways of finding divergence between an indicator and the price so why should divergence on the indicator itself be so different. As the name implies, indicators are just that they do not always come good on their indications but they are a start to make a tentative trade risking a little.
  • #6,731
  • Jan 14, 2021 2:24am Jan 14, 2021 2:24am
Quoting Nala66
At last it is Friday and our small group of traders are all set and raring to kick off trading together on Telegram. I know of no better way of getting a handle on trading than working together and seeing in real time what is happening in the market. We have both a trading plan and a fiscal plan with timelines for achievements taking people forwards to a substantial income to be self employed in this exciting business. I have set the schedule so that it is easily achievable by all and no doubt some will far exceed it and excel with their personal...

How do I join TELEGRAM please?
  • #6,732
  • Jan 14, 2021 3:26am Jan 14, 2021 3:26am
Quoting Michele2020
{quote} How do I join TELEGRAM please?
Hello Muchele
send me a PM please
Chris
  • #6,733
  • Jan 14, 2021 7:02pm Jan 14, 2021 7:02pm
Quoting Elsaloon
{quote} Hello Muchele send me a PM please Chris

Hi Chris

Was hoping you may have room for one more to join the Telrgram group.

Cheers John
  • #6,734
  • Jan 14, 2021 11:55pm Jan 14, 2021 11:55pm
Quoting Elsaloon
{quote} Hello Muchele send me a PM please Chris
Hi Chris,

May I join again too. I had joined before but due to inactivity I was kicked out at the time as I was unable to participate in the group then due to unavoidable circumstances. I am requesting for a second chance.

Cheers.
  • #6,735
  • Jan 15, 2021 9:12am Jan 15, 2021 9:12am
Quoting cylon
{quote} Hi Chris, May I join again too. I had joined before but due to inactivity I was kicked out at the time as I was unable to participate in the group then due to unavoidable circumstances. I am requesting for a second chance. Cheers.
Hi
send me a pm please
Chris
  • #6,736
  • Jan 22, 2021 1:50pm Jan 22, 2021 1:50pm
Quoting Elsaloon
{quote} Hi send me a pm please Chris
Hi Chris,

I have sent you a PM. Please check.

Thanks.
  • #6,737
  • Jan 27, 2021 12:13am Jan 27, 2021 12:13am
Have you guys seen this in Australia? I thought only Germany was clamping down on traders!

Here´s the link: https://financefeeds.com/oanda-plays...1100-leverage/


"From 29 March 2021, ASIC’s product intervention order will:

  1. restrict CFD leverage offered to retail clients to a maximum ratio of:

    1. 30:1 for CFDs referencing an exchange rate for a major currency pair
    2. 20:1 for CFDs referencing an exchange rate for a minor currency pair, gold or a major stock market index
    3. 10:1 for CFDs referencing a commodity (other than gold) or a minor stock market index
    4. 2:1 for CFDs referencing crypto-assets
    5. 5:1 for CFDs referencing shares or other assets

  2. standardise CFD issuers’ margin close-out arrangements that act as a circuit breaker to close-out one or more a retail client’s CFD positions before all or most of the client’s investment is lost
  3. protect against negative account balances by limiting a retail client’s CFD losses to the funds in their CFD trading account, and.."

  • #6,738
  • Jan 27, 2021 6:32am Jan 27, 2021 6:32am
Yes I received notification from my broker on the 07/12/2020 of the coming changes as you have outlined above.

The net effect is that in order to continue to make 1k a day for 40pips travelled one needs to have a minimum account of 13k approx.

It would be more difficult to actually double the account because we would need to make about 500 pips.

So set about doubling the account multiple times now so you have the asset to make your 1k a day by the time of the new rulings.
  • #6,739
  • Feb 1, 2021 2:37am Feb 1, 2021 2:37am
Folks,
not sure this applies to everyone but IC Markets can transfer your account to IC Global Markets (Seychelles Based) which gives you access to the same leverage however you will not get the same protection as you had with an ASIC account, just letting people know in case this is useful
Cheers...Des
  • #6,740
  • Feb 1, 2021 3:11am Feb 1, 2021 3:11am
Global prime are ECN and doing 1;100, /200 , not sure how they get around this
life is a reflection of what we allow ourselves to see
5 traders viewing now