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Trading the Cable swings via averages

  • #7,181
  • Edited 1:01pm Jul 27, 2021 12:43pm | Edited 1:01pm
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  • #7,182
  • Jul 27, 2021 9:08pm Jul 27, 2021 9:08pm
Quoting huskyboy
{image}
hi dear husky, how to set these indicators on tradingview
  • #7,183
  • Jul 28, 2021 4:24am Jul 28, 2021 4:24am
Quoting Nala66
If you have done this correctly you should now have a completely white chart with only the current price line showing. Next we are going to add the average which is a 26 period EMA as a double thickness black line So open the navigator select Moving Averages and set the parameters like this... {image}
Thank you for describing it with images.
  • #7,184
  • Jul 28, 2021 8:43am Jul 28, 2021 8:43am
Quoting yahya11
{quote} hi dear husky, how to set these indicators on tradingview
Attached Image (click to enlarge)
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  • #7,185
  • Jul 28, 2021 11:45am Jul 28, 2021 11:45am
Quoting huskyboy
{quote} {image}
thanks a lot
  • #7,186
  • Jul 28, 2021 1:03pm Jul 28, 2021 1:03pm
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comments more than welcome
  • #7,187
  • Jul 28, 2021 10:48pm Jul 28, 2021 10:48pm
Quoting huskyboy
{image} comments more than welcome
This is an excellent interpretation of chart reading and written chart comments.

I would strongly advise newbies to do exactly the same thing on a daily basis because it serves to get your mind in the zone and realize how price action flows and how we can respond to it making nice consistent profits.
  • #7,188
  • Jul 29, 2021 1:36am Jul 29, 2021 1:36am
Quoting huskyboy
{image} comments more than welcome
hi huskyboy,

Could you please explain some terms and acronyms.
What is 'bus', 'bed', 'rrbud', 'rrbed' ?

Thank you very much
  • #7,189
  • Jul 29, 2021 1:43am Jul 29, 2021 1:43am
why the market is so slow ans less volatile?
  • #7,190
  • Jul 29, 2021 2:52am Jul 29, 2021 2:52am
Quoting jewelnguyen
{quote} hi huskyboy, Could you please explain some terms and acronyms. What is 'bus', 'bed', 'rrbud', 'rrbed' ? Thank you very much
When starting out it is best to use a white background so you can readily print them off and add your own words and comments to them each day.

It gets to be a long winded operation if we write the full wording so acronyms familiar to us are made use of.

So for example a bull divergence would result in a bud and a bear one would result in a bed. A bull support would be a bus, bear would be a bes.

There isn't a great deal of room on the chart for writing long text so using terms familiar to yourself makes use of the space available.

It may be a good project for someone to write a glossary of terms used and the relevant explanations.
  • #7,191
  • Jul 29, 2021 2:57am Jul 29, 2021 2:57am
Quoting yahya11
why the market is so slow ans less volatile?
Since 108 the market has moved over 20 pips, what do you want? Blood!
  • #7,192
  • Jul 29, 2021 1:35pm Jul 29, 2021 1:35pm
Quoting jewelnguyen
{quote} hi huskyboy, Could you please explain some terms and acronyms. What is 'bus', 'bed', 'rrbud', 'rrbed' ? Thank you very much
thought everyone would understand, my mistake. Like Alan already mentioned :
- bud : regular bull divergence
- bed : regular bear divergence
- rrbud : rsi/rsi bull divergence
- rrbed : rsi/rsi bear divergence
- bus : bull support
- bes : bear support
- hd : hidden divergence
- 2bt : 2 bar test
and those not on that chart (cause i knew that these aren't so obvious)
- bust : bull strenght
- best : bear strenght
  • #7,193
  • Jul 29, 2021 1:51pm Jul 29, 2021 1:51pm
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Alan whats your thought on this one.
  • #7,194
  • Jul 29, 2021 9:23pm Jul 29, 2021 9:23pm
Quoting huskyboy
{image}Alan whats your thought on this one.
It would appear to me you use the 30 min and the 15 min quite a bit whereas I use the 60 min and 5 min mostly but that is only a minor thing.

I don't even have a 30 min chart but I can see stuff well enough on yours. Check out all the fast RSI pushes below the waterline where the slow remains above, these are what I refer to as bears oversold (beos) but look where they then push up again and fail to cross the slow RSI, this is what I refer to as bull weakness (buwk). So by applying two bar tests on both these fast lows and highs we can score more pips.

There is an obvious bed at the very top and it would appear it has been tested with the hook (h) so it may well test the EMA now.

So this adds quite a few more acronyms to the list. Good job (HB), there's another acronym
  • #7,195
  • Jul 29, 2021 10:15pm Jul 29, 2021 10:15pm
Here is another 1 hour chart I use just to draw on, no RSI.

It takes quite a few days to complete these moves so I don't want to add the clutter to my main chart. I have cleaned the chart up a tad to make things clearer.

What we are looking at here is two AB = CD's with their plus or minus (red boxes) from the 50% levels.

You can see where I am asking myself questions, i.e. ZOO points. There are many more questions asked but these were on other charts.
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  • #7,196
  • Jul 30, 2021 2:28am Jul 30, 2021 2:28am
Quoting Nala66
Here is another 1 hour chart I use just to draw on, no RSI. It takes quite a few days to complete these moves so I don't want to add the clutter to my main chart. I have cleaned the chart up a tad to make things clearer. What we are looking at here is two AB = CD's with their plus or minus (red boxes) from the 50% levels. You can see where I am asking myself questions, i.e. ZOO points. There are many more questions asked but these were on other charts. {image}
Hi mentor, what is the concept of plus and minus? pleas explain
  • #7,197
  • Jul 30, 2021 4:09am Jul 30, 2021 4:09am
signal 108 m30, entry m5, 20 pip move
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  • #7,198
  • Jul 30, 2021 6:18am Jul 30, 2021 6:18am
Quoting yahya11
{quote} Hi mentor, what is the concept of plus and minus? pleas explain
AB is the move we are measuring.
C is the 50% return of the move.
We measure CD to equal AB

Now is not always exactly on the 50% sometimes a tad more and sometimes a tad less so we measure this difference and allow for it when making the target D.
  • #7,199
  • Jul 30, 2021 6:26am Jul 30, 2021 6:26am
Quoting huskyboy
signal 108 m30, entry m5, 20 pip move {image}
On your 5 min you have a green square saying bull strength, I would call this bear weakness because it is the bears that are failing.
  • #7,200
  • Jul 30, 2021 8:38am Jul 30, 2021 8:38am
Quoting Nala66
{quote} AB is the move we are measuring. C is the 50% return of the move. We measure CD to equal AB Now is not always exactly on the 50% sometimes a tad more and sometimes a tad less so we measure this difference and allow for it when making the target D.
when return of the move is more than 50% we minus those extra pips and when D formed we add them in D ?
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