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Trading the Cable swings via averages

  • #7,001
  • Jun 1, 2021 9:09pm Jun 1, 2021 9:09pm
Quoting yahya11
{quote} yes you are right but there is no previous indicator's data option in my mt5 and even i dont see on mt4 , template that you gave and another one from jazz1964 have previous indicator's data option in the RSI but in my terminal there is no option {image}
This is crazy I cannot figure why it is missing from your RSI.

Try this template on a new five min chart.
Attached File(s)
File Type: tpl 5 min share.tpl   1.8 MB | 499 downloads
  • #7,002
  • Jun 1, 2021 9:31pm Jun 1, 2021 9:31pm
Quoting yahya11
{quote} yes you are right but there is no previous indicator's data option in my mt5 and even i dont see on mt4 , template that you gave and another one from jazz1964 have previous indicator's data option in the RSI but in my terminal there is no option {image}
if you try Alan's template it still doesn't work, your broker is having problems, you should choose another broker
  • #7,003
  • Jun 2, 2021 1:21am Jun 2, 2021 1:21am
Quoting jewelnguyen
{quote} if you try Alan's template it still doesn't work, your broker is having problems, you should choose another broker
yes i am also sufffering about broker mine is not good with exucation. excuate my order very late , i complaint many times but still not fixed and i am read on a website this is broker is not regulated from any authority. As i am new i dont know much broker if any one tell me the best one then it will be very appreciated
  • #7,004
  • Jun 2, 2021 1:24am Jun 2, 2021 1:24am
Quoting Nala66
{quote} This is crazy I cannot figure why it is missing from your RSI. Try this template on a new five min chart. {file}
thank you so much
  • #7,005
  • Jun 2, 2021 1:31am Jun 2, 2021 1:31am
Quoting jewelnguyen
{quote} if you try Alan's template it still doesn't work, your broker is having problems, you should choose another broker
Sometimes you have to drag the rsi indicator onto the 14 period indi to enable the previous indi data option to appear for the 5 period option
  • #7,006
  • Jun 2, 2021 6:55am Jun 2, 2021 6:55am
Quoting des_b
{quote} Sometimes you have to drag the rsi indicator onto the 14 period indi to enable the previous indi data option to appear for the 5 period option
yes it works ,thank you so much you are amazing
  • #7,007
  • Jun 5, 2021 12:12am Jun 5, 2021 12:12am
Dear Alan,

When leverage is low, we have to increase capital because margin increases.
Do you have any other way to keep profit without increasing capital when leverage is low?

Thank you very much
Jewel
  • #7,008
  • Jun 5, 2021 7:00am Jun 5, 2021 7:00am
Quoting jewelnguyen
Dear Alan, When leverage is low, we have to increase capital because margin increases. Do you have any other way to keep profit without increasing capital when leverage is low? Thank you very much Jewel
No, there is no other way.

All we can do is to make sure our losses are small compared to our winnings.
  • #7,009
  • Jun 8, 2021 1:46am Jun 8, 2021 1:46am
I don't know? This bear support is turning out to be a difficult resistance for the bulls...
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  • #7,010
  • Jun 8, 2021 5:41pm Jun 8, 2021 5:41pm
Quoting Nala66
{quote} No, there is no other way. All we can do is to make sure our losses are small compared to our winnings.
The broker "BlackBull Markets" in New Zealand give Australians 500:1 margin if you are interested.
David
  • #7,011
  • Jun 8, 2021 9:08pm Jun 8, 2021 9:08pm
Now the bears have a new support but they also failed to break the bear support so the situation is getting tighter and tighter for a break to happen.
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  • #7,012
  • Jun 10, 2021 2:32am Jun 10, 2021 2:32am
So the bulls couldn't break the bear supports and are now about to test this lower bull support...

And the average should make a lower low
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  • #7,013
  • Jun 14, 2021 1:57am Jun 14, 2021 1:57am
Hi Alan.

Would you consider this Rsi/rsi bull div valid even though price has crossed the ema multiple times in between the pivots?

Best regards,
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  • #7,014
  • Jun 15, 2021 5:52am Jun 15, 2021 5:52am
Quoting Fantaburk
Hi Alan. Would you consider this Rsi/rsi bull div valid even though price has crossed the ema multiple times in between the pivots? Best regards, {image}
Sorry to be late answering...been away on a trip.

The point of a div is to return the price to the average so it becomes a scalp. Then if it crosses the average and finds support it turns into a trade.

If it fails to make the average then it will make a LL or HH as the case may be so as it approaches the EMA we move our stop to prevent a loss if it turns.

Now what you are showing is the 5 min chart so the distance may not be worth the risk of a trade. We should be taking our inference from the 1 hour chart to benefit from a larger move.
  • #7,015
  • Jun 15, 2021 7:16am Jun 15, 2021 7:16am
No worries at all.

Thanks a million. I think I've wrapped my head around the inference part and scaling in.

We were discussing it in the telegram group the other day. I take it as the div is valid even when the rsi has crossed back and forth of the 50-line then.

Cheers.
  • #7,016
  • Jun 15, 2021 11:03am Jun 15, 2021 11:03am
Quoting Fantaburk
No worries at all. Thanks a million. I think I've wrapped my head around the inference part and scaling in. We were discussing it in the telegram group the other day. I take it as the div is valid even when the rsi has crossed back and forth of the 50-line then. Cheers.
Glad to hear you are discussing stuff in the telegram group...Perhaps you may teach me something I may not of thought of
  • #7,017
  • Jun 16, 2021 6:15am Jun 16, 2021 6:15am
When looking at the supports it is interesting to note that it is usual for a bear support to precede the taking out of a bull support and for a bull support to precede the taking out of a bear support.

So in the 1 hour chart below we see 1 a bear support takes out 2 a bull support.

Then 3 a bull support takes out 1 the bear support. Note in this case 1 and 3 are at exactly the same level.

All supports bearish or bullish become resistances for the opposition. A new support generally needs to be made to take out these resistances.

Whew! I hope that is clear enough...
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  • #7,018
  • Jun 16, 2021 11:56am Jun 16, 2021 11:56am
Hi Alan , i heard that the market makers counter every profitable strategies when they know about them. is that true ? if it is then can it possible to counter our sustem?
  • #7,019
  • Jun 17, 2021 2:42am Jun 17, 2021 2:42am
Quoting yahya11
Hi Alan , i heard that the market makers counter every profitable strategies when they know about them. is that true ? if it is then can it possible to counter our sustem?
The role of a market maker is to facilitate a market, they are not even remotely interested in peoples trading systems.
  • #7,020
  • Jun 17, 2021 8:17am Jun 17, 2021 8:17am
Quoting Nala66
{quote} The role of a market maker is to facilitate a market, they are not even remotely interested in peoples trading systems.
you mean our trading system can work forever
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