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Trading the Cable swings via averages

  • #7,341
  • Oct 8, 2021 3:57am Oct 8, 2021 3:57am
Quoting Ansab001
{quote} Hi Alan, There was also a bear H, which I took as well, For both entries there were HD on the 5min ema, I closed them with large pip profits. My question is though did i do the right thing switching like that as I saw the HD show on the 1 hour and looking for entries, I closed my buy when the Hd formed on above the 1h ema and took the sell hedge. I closed this early when i got my bonus pips (i was aiming for just another 10 pips as it means i dont need to get 20 tomorrow.)
Well done those hedges can make all the difference.
  • #7,342
  • Oct 8, 2021 3:59am Oct 8, 2021 3:59am
Quoting prohaha
{quote} Dear Mr. Alan, I've drawn the same ab=cd as below chart. Pls correct me if i'm wrong. {image}
That is how I would draw it yes, nice one.
  • #7,343
  • Oct 9, 2021 11:39pm Oct 9, 2021 11:39pm
Dear Alan.
This Friday, I made a hedge and was stopped out shortly after. My question is: should I move the SL of this Hedge to the BE after we have the next candle closes below the 2BT candle? I understand that stopping out of hedging is part of the game. But I'm learning how to get better at managing hedges.
Please give me an advice. I really appreciate it!
Many thanks!
Have a nice weekend.
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  • #7,344
  • Oct 10, 2021 6:01am Oct 10, 2021 6:01am
Quoting forex.ca
Dear Alan. This Friday, I made a hedge and was stopped out shortly after. My question is: should I move the SL of this Hedge to the BE after we have the next candle closes below the 2BT candle? I understand that stopping out of hedging is part of the game. But I'm learning how to get better at managing hedges. Please give me an advice. I really appreciate it! Many thanks! Have a nice weekend. {image}
You have to try and determine from the higher time frame what the main direction is. From this you can determine your short hedge is little more than a quick scalp.

In other words we would expect the hedge not to be a change in direction in the longer term so take whatever profit from it that you can.

You can see on the 5 min chart this is just a failed retest of the bull support, so a good place to close it.

Never leave your stop sitting idle, the least you could have done was to move it down trailing the price and risking less and less until you close it.
  • #7,345
  • Edited 3:42pm Oct 10, 2021 11:52am | Edited 3:42pm
Quoting Nala66
{quote} You have to try and determine from the higher time frame what the main direction is. From this you can determine your short hedge is little more than a quick scalp. In other words we would expect the hedge not to be a change in direction in the longer term so take whatever profit from it that you can. You can see on the 5 min chart this is just a failed retest of the bull support, so a good place to close it. Never leave your stop sitting idle, the least you could have done was to move it down trailing the price and risking...
Dear Alan
Thanks for taking the time to reply on the weekend.
I still don't understand the red highlighted above.
At the time of Hedge, there is only 1 Bear Support and 1 Bull Support nearby as I have re-marked. I still don't understand what you mean by testing Bull Support.
Otherwise, I totally agree that it's a bad place to hedge in H1 timeframe.
Could you please explain in more detail?
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  • #7,346
  • Oct 10, 2021 10:31pm Oct 10, 2021 10:31pm
Quoting forex.ca
{quote} Dear Alan Thanks for taking the time to reply on the weekend. I still don't understand the red highlighted above. At the time of Hedge, there is only 1 Bear Support and 1 Bull Support nearby as I have re-marked. I still don't understand what you mean by testing Bull Support. Otherwise, I totally agree that it's a bad place to hedge in H1 timeframe. Could you please explain in more detail? {image} {image}
Where you have the bull support the next move was the bear div that you hedged.

When a bear div fails to cross the EMA it will probably make the HH so it should take out your hedge.

Not only did it fail to cross the EMA but it failed to even retest the bull support and bounced off the 1 hour EMA.

There was a lot going on to say long is the right direction
  • #7,347
  • Oct 11, 2021 12:30pm Oct 11, 2021 12:30pm
Quoting Nala66
{quote} Where you have the bull support the next move was the bear div that you hedged. When a bear div fails to cross the EMA it will probably make the HH so it should take out your hedge. Not only did it fail to cross the EMA but it failed to even retest the bull support and bounced off the 1 hour EMA. There was a lot going on to say long is the right direction
Thanks, Alan.
I got it.
I'm still learning how get better in managing hedge. The trade today is a good lesson for that. (-20pips, but it's worth)
  • #7,348
  • Oct 11, 2021 6:39pm Oct 11, 2021 6:39pm
Quoting forex.ca
{quote} Thanks, Alan. I got it. I'm still learning how get better in managing hedge. The trade today is a good lesson for that. (-20pips, but it's worth)
This should have been an easy trade short...IF... you actually wait for the 1 hour signals....
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  • #7,349
  • Oct 11, 2021 7:03pm Oct 11, 2021 7:03pm
And for the AB = CD buffs you can also plot it with this.... Note how price enters the plus/minus box.
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  • #7,350
  • Oct 11, 2021 7:47pm Oct 11, 2021 7:47pm
Quoting Nala66
And for the AB = CD buffs you can also plot it with this.... Note how price enters the plus/minus box. {image}
Thanks, Alan. These boxes are new to me.
I am still trying to get better day by day.
I am grateful to you for your dedication.
  • #7,351
  • Oct 18, 2021 8:40am Oct 18, 2021 8:40am
Hey guys,

Did you see the market today it was so choppy!

Never lost any money thank god, got a good sell which yielded me about 18 pips.

How did you all do?

I spotted some hds from the 1 hr, at best scalped 6-8 pips per trade as priced kept crossing the 1hr like it was nothing.

Reached about 30 pips and called it a day. Price is just very undecided.

my charts 5min and 1 hour below.

Alan what was your interpenetration of Monday?
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  • #7,352
  • Oct 18, 2021 9:05am Oct 18, 2021 9:05am
Quoting Ansab001
Hey guys, Did you see the market today it was so choppy! Never lost any money thank god, got a good sell which yielded me about 18 pips. How did you all do? I spotted some hds from the 1 hr, at best scalped 6-8 pips per trade as priced kept crossing the 1hr like it was nothing. Reached about 30 pips and called it a day. Price is just very undecided. my charts 5min and 1 hour below. Alan what was your interpenetration of Monday? {image} {image}
Well done on getting 30 pips I couldn't see anything worth trading today
  • #7,353
  • Oct 18, 2021 9:47am Oct 18, 2021 9:47am
Quoting Ansab001
Hey guys, Did you see the market today it was so choppy! Never lost any money thank god, got a good sell which yielded me about 18 pips. How did you all do? I spotted some hds from the 1 hr, at best scalped 6-8 pips per trade as priced kept crossing the 1hr like it was nothing. Reached about 30 pips and called it a day. Price is just very undecided. my charts 5min and 1 hour below. Alan what was your interpenetration of Monday? {image} {image}
Like I always say it is very hard trading when the price just sits on the 1hr EMA causing it to flatline.

The good news is that it never stays like this for too long.
  • #7,354
  • Oct 19, 2021 2:44am Oct 19, 2021 2:44am
I know yesterday was somewhat flat but isn't this a potential target on the 60m?
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  • #7,355
  • Oct 19, 2021 3:17am Oct 19, 2021 3:17am
yes problem for me was happened at a time I can't trade. Today is interesting too.

Right now there is no evidence of a sell on the 1hour, so i bought on the 1.37683 support and did a couple of hedges.

Pips made, 13,6,13,5. Market is choppy and scrappy again.

However the chart is clearer. The 1H is forming a div, but this may not happen for hours. So I will keep an eye on this and when the sell comes (if im unlucky may come when im not there) Be a good selll least to ema 1h!)

Also watch 1H ema it is going for the next HH then you may see the turn.
  • #7,356
  • Edited 2:25pm Oct 19, 2021 2:04pm | Edited 2:25pm
just to update today.

Great day, a cool 30 pips made later on too.

Just to show on the one hour there were 1 hd signal (waiting forever for them)
I was not sure about it tbh, but using the support lines i took the sell at the close with s/l being just above R61.

I added a 2ed Entry on the next candle with R61 again being the S/LS. TP was last price level 1.38012
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  • #7,357
  • Oct 19, 2021 9:40pm Oct 19, 2021 9:40pm
What I saw...
The 1 hour was nicely placed at a ZOO point and the lower times frames were in bear divs at this time indicating a short was on offer.

However I didn't have a target to aim for since the 1 hour wasn't in div I should not expect it to make the EMA.

On the lower time frames price found bear support in the 5 min but not on the 15 min so not very strong for the bears.

I could only see a scalp short making two entries.
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  • #7,358
  • Edited 6:01am Oct 20, 2021 5:41am | Edited 6:01am
Quoting Nala66
Currently I see this as being a holding pattern while the EMA continues to rise heading for the HH. This is often a dangerous place to trade because the bears may try to stop it. It was in HD at the top so it may make the EMA and stop it. Still we sit and wait for a proper signal. {image}
Hi Alan,

There are some questions stuck in my head when I did the research on your thread, hoping you point out some :

1. In Post 5086, what is meaning of term "A holding pattern"?

2. How to set up Quartiles tool base on Fibo and how to use it to figure out C point of AB=CD pattern?

3. How did you deal with the reduce of leverage so far? My broker has ASIC certificate but there is nothing change in leverage, it's still 1:500

Regards
  • #7,359
  • Oct 21, 2021 6:54am Oct 21, 2021 6:54am
Potential AB=CD alert
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  • #7,360
  • Edited 6:26pm Oct 21, 2021 10:08am | Edited 6:26pm
Quoting prohaha
{quote} Hi Alan, There are some questions stuck in my head when I did the research on your thread, hoping you point out some :
1. In Post 5086, what is meaning of term "A holding pattern"?
2. How to set up Quartiles tool base on Fibo and how to use it to figure out C point of AB=CD pattern?
3. How did you deal with the reduce of leverage so far? My broker has ASIC certificate but there is nothing change in leverage, it's still 1:500 Regards
I've already found your subject as "The Quartile Trader" on FF, so Question 2,3 are all clear. Waiting your response to my Q1.

Regards
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