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Attachments: Trading the Cable swings via averages
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Trading the Cable swings via averages

Quoting prohaha
{quote} Waiting your response to my Q1. Regards
A holding pattern is simple where the price tends to just bounce up and down while staying beyond the EMA. This allows the EMA more time the make a HH or LL.

See the holding pattern here on the 15 min chart. It holds above the EMA until the EMA makes the HH even though the price does not and then it collapses via the bear div.
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Really struggled today. No loss but so many breakeven.

Always on Monday!

How did everyone else do today?
Quoting Ansab001
Really struggled today. No loss but so many breakeven. Always on Monday! How did everyone else do today?
I wonder why, the signals were clear enough.
Nice ZOO on the 1 hour with a nice entry signal on the 15 min and a target of the 1 hour EMA swing low.
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Quoting Nala66
{quote} I wonder why, the signals were clear enough. Nice ZOO on the 1 hour with a nice entry signal on the 15 min and a target of the 1 hour EMA swing low. {image}

Its the timing of it Alan, I can really only trade till 9 30am gmt time(soemtimes 10 30am gmt), which is annoying as I see the signal and unless i'm home i can take it later in the day.

But there is always Monday!
Quoting Ansab001
{quote} Its the timing of it Alan, I can really only trade till 9 30am gmt time(soemtimes 10 30am gmt), which is annoying as I see the signal and unless i'm home i can take it later in the day. But there is always Monday!
Well I haven't tried this because like you it is out of synch with my time to trade.

What I am saying is change the pairs but keep the strategy. Instead of trading in the morning look for a pair that begins in your evening, it may not move as much as the European market but it may provide you with more opportunity.

Let me know what pairs are better suited and I will monitor them for a while to see how they perform. The chances are they will be cheaper also and this means you can get more bang for your buck in terms of lots.
Here below is the AUD/JPY and I just plotted it the way I would normally do and the results are the same... it obeys the rules.

We have a bear div at the top which makes and breaks the EMA.

We have the green ABCD triangle hitting its target.

This was followed by a HD returning price to the EMA.

Then we had the yellow ABCD again hitting its target, it may well run to the blue AB = CD however I do see an RSI div at this time.
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Not sure if this suits timewise but it shows the methods work fine.
Quoting Nala66
{quote} I wonder why, the signals were clear enough. Nice ZOO on the 1 hour with a nice entry signal on the 15 min and a target of the 1 hour EMA swing low. {image}
Hi Alan,

I'm using your concept to read the chart infomation and interpret its meaning but Money management is what I want to focus on and it is my weakness.
A three stage entry is totally best way to do when price go according to the plan we predict. However, if life was that simple we would all be rich. I got a lot of SL and BE+ because of moving SL quickly.
So, could you show us your reaction when you were wrong? For example, you got SL for entry 2 or 3, what would you do? (relate to signal to re-entry what if price keep moving forward without any pullback? lot size of the following entry, equal or double?, and so on)

Regards.
Quoting Nala66
{quote} Well I haven't tried this because like you it is out of synch with my time to trade. What I am saying is change the pairs but keep the strategy. Instead of trading in the morning look for a pair that begins in your evening, it may not move as much as the European market but it may provide you with more opportunity. Let me know what pairs are better suited and I will monitor them for a while to see how they perform. The chances are they will be cheaper also and this means you can get more bang for your buck in terms of lots.
95% of the tiem GBP and USD is fine.

Another pair worth watching may be GBPJPY.

Unfortunately you will need tor recalculate your stops etc, due to the high spread. But it works well.
Hi Mentor Alan, How are you? i have a question that my winning rate is very good about 70% or more but when i lose a trade, one losing trade loss lot of money more than 7 winning trades gain. so how to manage this, how to set stops?
Quoting yahya11
Hi Mentor Alan, How are you? i have a question that my winning rate is very good about 70% or more but when i lose a trade, one losing trade loss lot of money more than 7 winning trades gain. so how to manage this, how to set stops?
Same Question as yours, waiting for Alan's response!
Ok gents, I think you need to study the thread slightly more, no way should you have a 70% win rate and still loose money.

let me show you how i take a s/l

Please see the chart below

There was a hd on the 7am gmt candle. Your stop loss should be measured at the tail of that candle (as it can close and remove the HD)

So calculate what you are willing to loose (i.e % wise) to that s/l. Here I like to drop down to lower t/f and i have a generic sl of 10 pips.

Now below is the 5 min chart. As I see the HD forming i look for an entry point which in the 5 min is the cross over of the 5 min ema.

Now here using the 1 hr reference I measured for it stop, it has to cross 8 pips. So my stop loss from the 5min to the tail of the current 1 hr would be 8 pips.

I keep my s/l 10 but you can keep it. As I see price go my way i lower the s/l.

You dont need to do this, but its more calculated you can use a generic stop loss when you go in the lower tf. As price goes my way i lower the s/l until its break even. Remember we expect price to atleast reach the 1hr ema. We also have support lines we can use as reference.

If prices reaches great for me it was 16 pips to ema 1hr but i expect it to go down slightly more. There is also additional trade you could have added with tight s/l like the start of the 8am candle with a s/l to the 5min.

With the trades you put on with s/l you should reach your target.

Also make sure you have a target for the trade. It can be 20,30,40 pips whatever your goal is.

But your main key is turning the market in your favour, so as long as you hit b.e you hsould be laughing, as you can bank pips along the way as it goes your way.
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Quoting yahya11
Hi Mentor Alan, How are you? i have a question that my winning rate is very good about 70% or more but when i lose a trade, one losing trade loss lot of money more than 7 winning trades gain. so how to manage this, how to set stops?
hi yahha11,

Could you upload a recent example of a loss, and how much you lost.
As well as a couple of examples of wins.
I am curious how one loss can wipe out several wins.

(I don't trade this method, but I thought it has a robustness about it that I like.)
Here is my 5min chart template.... Let me know if this helps Halalisani1
Attached File(s)
File Type: tpl 5 min full.tpl   1.8 MB | 532 downloads
No Sir it doesn't work
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Price Action Lives Here
Quoting Halalisani1
No Sir it doesn't work {image}

Try this,
Attached File(s)
File Type: tpl My Bright Template.tpl   2 KB | 193 downloads
File Type: tpl My Night Template.tpl   16 KB | 221 downloads
File Type: ex4 #MA_in_Color.ex4   12 KB | 216 downloads
File Type: ex4 Alans_Target Targets V2.1.ex4   80 KB | 243 downloads
Quoting Halalisani1
No Sir it doesn't work {image}
You probably don't have all the tools plugged in.

Try adding the two tools Ansab001 shows above.

It should only work on the 5 min chart because the ema numbers change for different time frames.

You will also need
Attached File(s)
File Type: ex4 26 EMA Humps_MA breaks Line.ex4   23 KB | 242 downloads
I am left the opinion the dollar has reached its monthly objective and we may well see a long journey back to the top.

Breaking the average swing low at 3284 will change my opinion/
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Quoting Nala66
I am left the opinion the dollar has reached its monthly objective and we may well see a long journey back to the top. Breaking the average swing low at 3284 will change my opinion/ {image}

I am with you there!
Quoting Ansab001
{quote} Try this, {file} {file} {file} {file}
Can you explain to me how to use the Alans_target indicator please? It draw like 50 lines on the chart and I have no idea what Triangle_MaxSize, Active_Triangles, etc. mean. Thanks a ton
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Quoting Pettra
{quote} Can you explain to me how to use the Alans_target indicator please? It draw like 50 lines on the chart and I have no idea what Triangle_MaxSize, Active_Triangles, etc. mean. Thanks a ton {image}
Triangle_MaxSize is the maximum number of bars to be considered before drawing a triangle, 48 seems to work pretty well, if the indicator is drawing too Many lines try reducing Historical_Bars

Cheers...Des
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