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Trading the Cable swings via averages

  • #6,921
  • Apr 20, 2021 6:53am Apr 20, 2021 6:53am
Quoting yahya11
{quote} hi Alan , how you draw these 12345 what is the logic and rule to draw them
Hi yahya11,
I've known for a long time that I can use RSI for counting waves but I don't care. Thanks to Master Alan's inspiration, I did a preliminary study of this method this morning.
Attached Image (click to enlarge)
Click to Enlarge Name: a8770c7a282ba436a2e528f53d1853dc.png Size: 372 KB

You can see reference here
https://elliottwave-forecast.com/ell...-elliott-wave/

Hope that can help you

Happy trading
  • #6,922
  • Apr 20, 2021 8:41pm Apr 20, 2021 8:41pm
Quoting jewelnguyen
{quote} Hi yahya11, I've known for a long time that I can use RSI for counting waves but I don't care. Thanks to Master Alan's inspiration, I did a preliminary study of this method this morning. {image} You can see reference here https://elliottwave-forecast.com/ell...-elliott-wave/ Hope that can help you Happy trading
I think we are straying off subject here and introducing additional concepts.
  • #6,923
  • Apr 20, 2021 10:46pm Apr 20, 2021 10:46pm
Quoting Nala66
{quote} I think we are straying off subject here and introducing additional concepts.
OK Master, let's stop talking about counting wave here

Happy trading
  • #6,924
  • Apr 21, 2021 6:50am Apr 21, 2021 6:50am
Hi Alan,

Master, are you okay?
  • #6,925
  • Apr 22, 2021 12:18am Apr 22, 2021 12:18am
Quoting jewelnguyen
Hi Alan, Master, are you okay?
Yes, I was tad busy yesterday.
  • #6,926
  • Apr 26, 2021 1:46am Apr 26, 2021 1:46am
On the 1 hour the bears have support at 3907 and the bulls are now trying to break this resistance level.
  • #6,927
  • Apr 26, 2021 1:56am Apr 26, 2021 1:56am
Quoting Nala66
On the 1 hour the bears have support at 3907 and the bulls are now trying to break this resistance level.
Hi, Alan

Glad you came back, master

Happy trading
  • #6,928
  • Apr 26, 2021 2:06am Apr 26, 2021 2:06am
Ok the next bear support is at 3954 so I guess the bulls will try for this resistance
  • #6,929
  • Apr 26, 2021 4:27am Apr 26, 2021 4:27am
Some indicators I switched from mt4 to mt5

Hope to be able to help anyone in need

Happy trading
Attached File(s)
File Type: mq5 emaClor.mq5   26 KB | 363 downloads
File Type: mq5 Mano Rounder.mq5   13 KB | 305 downloads
File Type: mq5 MTF_EMA.mq5   24 KB | 353 downloads
File Type: mq5 vertical_time_lines.mq5   8 KB | 329 downloads
  • #6,930
  • Apr 27, 2021 6:39pm Apr 27, 2021 6:39pm
Hi Alan,
I'm still not used to viewing bar charts so I don't understand the two-bar test examples. Please help me, show me the latest 2-bar test example.

Thank you very much, Master
Jewel
  • #6,931
  • Apr 27, 2021 10:47pm Apr 27, 2021 10:47pm
Quoting jewelnguyen
Hi Alan, I'm still not used to viewing bar charts so I don't understand the two-bar test examples. Please help me, show me the latest 2-bar test example. Thank you very much, Master Jewel
This is the 1 hour chart showing the two bar test examples. I have made all 5 different colours for you to distinguish the differences.

1) Is a bear div so we test from the previous bar and include the div bar. Stops are always above the div bar..

2) Is a bull div so stop goes below the div bae.

3) Is an RSI bear div so stop goes above the div bar.

4) is a bull div so stop goes below the div bar.

5) Is an RSI bear div so stop goes above the div bar.

Now all 5 of these divs present us with ZOO points for consideration. At the lower time frames we can get better entries and the two bar test would apply there also.
Attached Image (click to enlarge)
Click to Enlarge Name: 722660d69761c0e7700ffc8f43e33e83.png Size: 159 KB
  • #6,932
  • Apr 28, 2021 12:27am Apr 28, 2021 12:27am
Quoting Nala66
{quote} This is the 1 hour chart showing the two bar test examples. I have made all 5 different colours for you to distinguish the differences. 1) Is a bear div so we test from the previous bar and include the div bar. Stops are always above the div bar.. 2) Is a bull div so stop goes below the div bae. 3) Is an RSI bear div so stop goes above the div bar. 4) is a bull div so stop goes below the div bar. 5) Is an RSI bear div so stop goes above the div bar. Now all 5 of these divs present us with ZOO points for consideration. At the lower time frames...
Ok, Thanks you very much, Master

Jewel
  • #6,933
  • Apr 28, 2021 12:48am Apr 28, 2021 12:48am
Quoting Thankyoualan
Thanks alan for sharing with us. I have two questions: My DIV 1, DIV 4 looks like the above is valid. Did we entry after the candle was closed? {image}
You would be watching - hopefully - and as soon as it runs into div you would drop to the lower timeframe chart and look for the entry there. This way you would be entering actually on the wick of the 1 hour bar. Don't forget the stop saves you if you are wrong and this stop would be based on the lower time frame you entered on.

The close of the 1 hour would confirm you have a div and it didn't push through it but this would cause a wider stop. Remember to compound the trade to maximise the profit potential and move the stops when practical.
  • #6,934
  • Apr 28, 2021 3:53am Apr 28, 2021 3:53am
Quoting Thankyoualan
alan you can share the transaction today.I tried to get div h1 from m5 but it was difficult.Luckily I still got 5 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: 8c09a2cb3f07a03b26a3d495201b04d3.png Size: 168 KB
  • #6,935
  • Apr 28, 2021 4:02am Apr 28, 2021 4:02am
The market is very choppy so the divs are swinging wildly. When the market is trending we would expect to see some of these divs fail.
  • #6,936
  • Apr 28, 2021 7:33am Apr 28, 2021 7:33am
Thanks for sharing Alan! Looking forward to this.
  • #6,937
  • Apr 28, 2021 10:05am Apr 28, 2021 10:05am
Quoting jewelnguyen
{quote} Hi yahya11, I've known for a long time that I can use RSI for counting waves but I don't care. Thanks to Master Alan's inspiration, I did a preliminary study of this method this morning. {image} You can see reference here https://elliottwave-forecast.com/ell...-elliott-wave/ Hope that can help you Happy trading
Thank you so much for sharing I really appreciate your effort
  • #6,938
  • Apr 28, 2021 10:08am Apr 28, 2021 10:08am
Quoting Nala66
{quote} This is the 1 hour chart showing the two bar test examples. I have made all 5 different colours for you to distinguish the differences. 1) Is a bear div so we test from the previous bar and include the div bar. Stops are always above the div bar.. 2) Is a bull div so stop goes below the div bae. 3) Is an RSI bear div so stop goes above the div bar. 4) is a bull div so stop goes below the div bar. 5) Is an RSI bear div so stop goes above the div bar. Now all 5 of these divs present us with ZOO points for consideration. At the lower time frames...
Hi Alan, This is really needed topic that you discuss but i am so sorry i can't really understand so much bars there please explain only one then i will understand all accordingly
  • #6,939
  • Apr 28, 2021 9:56pm Apr 28, 2021 9:56pm
Quoting Thankyoualan
Thank you very much alan. I was afraid to lose when this candle appeared and after I cut the order the price went up. I don't know how to handle these situations. in the last position is a valid HD? {image} {image}
We have discussed this at length what you are referring to is the dreaded Hook where the divergence is retested.

I makes us panic somewhat fearing the loss of any profits we may have made. Had you hedged at the top div then you would have had nothing to fear.

The HOOK is also another long opportunity if you missed out on the Div and the HOOK is often very fast at producing profits. The stop is still below the Div bar.

I see we have finally made and broken the bear support (3954) having left behind two bull supports now. The next bear support is up at 4052, this of course is a bull resistance.
  • #6,940
  • Apr 28, 2021 9:59pm Apr 28, 2021 9:59pm
Quoting yahya11
{quote} Hi Alan, This is really needed topic that you discuss but i am so sorry i can't really understand so much bars there please explain only one then i will understand all accordingly
Not sure what you are asking here. We were only talking about a two bar test of a divergence. This is done rather than a trend line which is most often very late.
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