Thanks Alan, there’s also that outstanding AB=CD short on the 60m at 3683
Trading the Cable swings via averages
- #6,823
- Apr 8, 2021 3:22am Apr 8, 2021 3:22am
- | Joined Sep 2009 | Status: Trader | 1,425 Posts
perfect Alan
- #6,824
- Apr 8, 2021 3:49am Apr 8, 2021 3:49am
- Joined Mar 2016 | Status: Trader | 6,378 Posts
perfect Alan
Because it is not easy and one has to be alert to the changes as they happen in real time we don't want to be in the trade for too long and die from exhaustion.
Get in, get it done and get out... breath and relax until the next day which will surely come.
Time management is an important aspect along with money and trade managements.
You can see I keep my charting simple but even in this there is a lot to consider, don't make it more difficult than it needs to be.
Amen
- #6,828
- Apr 9, 2021 12:21am Apr 9, 2021 12:21am
- Joined Mar 2016 | Status: Trader | 6,378 Posts
Hi Nala, First up many many thanksgreat education and teaching. I have been a long time voyer...and now wanting to test/evaluate my understanding. can you comment on my markup of todays 5m as at 6:30 platform time. Cheers, Earl (Im in Aus also
) {image}
1) This is a 5 min chart we need some inference from the 1 hour chart to actually trade that short divergence. A look at the 1 hour confirms you do have an inference there because it it touching the EMA i.e. a ZOO point to consider..
2) The std div line is drawn wrong it should have been a tad to the right.
3) Your hidden div is also drawn incorrectly on the fast RSI it should be on the slower RSI and this would give you cause to hedge your shorts.
4) Your AB = CD is also drawn incorrectly CD is drawn from the 50% retracement and any extra is added as a plus or minus.
5) While this AB=CD is underway another in the same direction was formed. The market is dynamic and we should be responding to this.
6) The target for your AB=CD has just been hit so I can post the result now for you.
7) This is the Asian session and has a low probability of making a substantial move.
