Trading the Cable swings via averages

Quoting Pettra

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{quote} Good morning Alan. Thanks for the hard work yesterday, I understand 100% what you said yesterday, that's a relief. Question please, have a look at my picture, don't know if I identified those correctly 1. 2 bar test found on M5 + bear div on M5 (at the same time RSI div bear on H1): entry1 and SL1 ~3pips - 0.29LOT 2. After it going down bear found support but price broke it up 3. Another bear RSI div found so we enter entry2? SL almost the same as SL1 - 0.58LOT 4. After that exit when bull RSI div found? around 13pips profit for both entry...

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Quoting DuncanMac

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Alan, a request from me. Whenever you have time please post a few screenshots of current/past trades with the RSI divergences marked and your entry and exit arrows. No need of explanation. I'd like to figure the entries/exits out on my own. Also an alert post from you when you see a divergence buliding up that you think can lead to a trade will be helpful. I'd like to know if my idea of a divergence matches yours. Thanks.

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Quoting Nala66

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When a div forms counter to the trend (EMA slope)it is likely to fail to cross the EMA and Find support unless the div forms at the end of the 'EVENT'

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Quoting Nala66

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I just closed this trade at the arrow {image}

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Quoting Pettra

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{quote} Hi Alan, received notification about new post but didnt have time till now. Today the first date NZ open all the restaurant and bar, so everyone gone crazy already outside ) Hope you had a great day. Two small questions first 1. Did you enter at the 2 bear support found? Or which point did you enter and why you exit? 2. When a div forms counter to the trend (EMA slope)it is likely to fail to cross the EMA and Find support unless the div forms at the end of the 'EVENT' >> since I dont understand what EVENT mean, I translate it to:...

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Quoting Nala66

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{quote} The Event is simply the distance I speculate price should hit. In the chart below I have 1 short trade and 4 long trades expecting the price to hit the level in the red circle which was the next average swing high level. Same old story really, it rarely changes these actions. Once this EVENT is over price is in div so we get the current pull back. The chart below shows my entries... {image}

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Quoting Nala66

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1) Because I was trading to what I perceived to be the target (red circled) from what I thought the short target was expecting the bounce up. 2) 2 was closed at the pull back from the EMA because the div failed to cross and find support which means price is going to make a LL, which it did. 3 was that LL but it was a bear div so long again. Of course there were stops but they were never threatened. 3) I couldn't consider 4 as a hedge because I had already closed my short at the arrow. 4) See answer 3 5) I do use the RSI but folded it out of the...

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Quoting Pettra

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{quote} Thanks Alan, my head is spinning now about which signal is worth entering, which not, looks like I still have a lot to learn, haha May I ask how you use the indicator to detect hidden divergence please? You posted it before but I never know how. Cheers, Peter

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Quoting Nala66

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{quote} The RSI you thought was a Bollinger band is actually an RSI with its history of movement. The RSI is constantly repainting until the bar closes (red lines) how high or low it actually went is shown by the black lines. Below is the 1 hour chart on which I have marked three divs. The first is the common garden variety being a bear div. Number 2 is a bullish hidden div. Look at the price at that point and see it just dipped below the prior pivot. Look at the RSI and the history shows it never getting below that same pivot. It was in divergence...

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Quoting Pettra

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{quote} Thanks Alan, I get it now, appreciate your help. I see you around this time a lot - when London market open, did you usually check during this time? Peter

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Quoting prohaha

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{quote} Let me Petta, It's timing, at bar 108 when Frankfurt market open. It means before London market open one hour. By the way, I think you should stay calm, read the whole thread again and again. The answers of your all questions are already made by Mr.Alan and the others.

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Quoting Nala66

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I don't really mind answering questions anew, there is such a lot to consider it is difficult to take it all in.

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