Trading the Cable swings via averages | Page 376 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Identifying Market Swings - Medium and Long Term Trading 619 replies

Trading With Moving Averages 72 replies

Moving Averages Zone Trading 10 replies

HELP! GMMA (Guppy's Multi-Moving Averages) Trading Mehod 3 replies

Via indicator: trading xxxyyy via zzz 0 replies

Attachments: Trading the Cable swings via averages
Exit Attachments

Trading the Cable swings via averages

  • #7,501
  • Jan 10, 2022 1:10pm Jan 10, 2022 1:10pm
[quote=mayflower;13847802]As we begin another year I thought I would reflect on what this particular thread -

Great post-Mayflower.
Allan is on my shortlist of top traders. Clearly.
The lessons learned from him, generously given, are priceless.
Personally, I still use divergence as one of the most important filters, also hedge is there, and the 26 MA.
  • #7,502
  • Jan 11, 2022 2:38am Jan 11, 2022 2:38am
The daily is getting very close to the ABCD target and may even make it today...
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 49 KB
  • #7,503
  • Jan 11, 2022 3:26am Jan 11, 2022 3:26am
Quoting Nala66
The daily is getting very close to the ABCD target and may even make it today... {image}
Master chart reading
Can you reup EMA level indicator, Alan?
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_1.png Size: 88 KB
  • #7,504
  • Jan 11, 2022 3:40am Jan 11, 2022 3:40am
Attached File(s)
File Type: ex4 26 EMA Humps_MA breaks Line.ex4   23 KB | 396 downloads
  • #7,505
  • Edited 5:38pm Jan 11, 2022 5:27pm | Edited 5:38pm
Quoting mayflower
As we begin another year I thought I would reflect on what this particular thread - started just over three years ago now by Alan Dewett, set out to do. He stated the method was ‘trading Cable only via a very effective but simple method based upon the evidence presented by the market and not what I may think will happen down the track.’ After nearly 7,500 posts by hundreds of different participants from all over the world I would like to find out where people are at with this trading method. Alan is very generous with his time and offers to help...
I last posted in this fine thread (and FF) on 21 February 2020. Crikey time flies...

Alan set me on the path to an intensive study of "price action" -- and in a much broader and significantly more helpful sense than just candlestick patterns (the "james16" thread is where I first started on FF and, in hindsight, it was elementary school compared to what Alan teaches).

Since then, I've also closely studied Mack's "PATS" methodology (futures) and spent hundreds of hours reviewing charts and demo trading in my evenings, with a determined view to making futures daytrading a profession.

Am I there yet? Not quite. But I'm on the cusp, and it really is true what they say; most people (me included) have to put in a tremendous amount of work to get to the point where they can call themselves "traders".

I remain very grateful to Alan for freely sharing his hard-won expertise with anyone who cares to engage.

Cheers
  • #7,506
  • Jan 11, 2022 8:05pm Jan 11, 2022 8:05pm
Quoting Nala66
The daily is getting very close to the ABCD target and may even make it today... {image}
Well it made the ABCD now I am wondering if price will test the bear support/bull resistance...
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 61 KB
  • #7,507
  • Jan 11, 2022 8:10pm Jan 11, 2022 8:10pm
If we look at an even longer term i.e. the monthly we see the possibility of a HH. I wouldn't be holding my breath for this because it takes so long and there will be pull backs along the way.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 54 KB
  • #7,508
  • Jan 12, 2022 4:23am Jan 12, 2022 4:23am
Quoting Nala66
If we look at an even longer term i.e. the monthly we see the possibility of a HH. I wouldn't be holding my breath for this because it takes so long and there will be pull backs along the way. {image}
I agree. There're a lot of ZOO in weekly chart.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDWeekly.png Size: 62 KB
  • #7,509
  • Jan 12, 2022 5:58am Jan 12, 2022 5:58am
And on a monthly basis, you can't count at all.
  • #7,510
  • Jan 12, 2022 10:28am Jan 12, 2022 10:28am
It has tested the bull resistance. Now is it going to try for a HH. I think that it will be the limit of this current up move since we are looking at an RSI div at a ZOO point.

Price is also at the 50% retracement of the down move on the weekly chart.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 60 KB
  • #7,511
  • Jan 12, 2022 6:21pm Jan 12, 2022 6:21pm
This daily chart is very difficult to plot at this time, for me anyway. It has exhausted all I know of price movement having hit the ABCD, taken out the bull resistance and stopped on the average swing high. Where to from here for me would just be guesswork so, time to sit on hands.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 49 KB

On the 1 hour chart price is confronted with an area of strong resistance but it could well be that the average is trying for the HH.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 85 KB

The best I could suggest is to expect a choppy situation and if it makes a break then hope you are on the right side.
  • #7,512
  • Jan 13, 2022 5:45pm Jan 13, 2022 5:45pm
As I thought would happen the price hardly moved and would have required several entries in both directions to make the 40 pips, maybe more because it would have been hard to get the 3 lots on. The Grey areas are a 40 pip grid.

Need to see a bullish or bearish support to determine which swing high or low is targeted.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 40 KB
  • #7,513
  • Jan 14, 2022 12:25am Jan 14, 2022 12:25am
Quoting Nala66
As I thought would happen the price hardly moved and would have required several entries in both directions to make the 40 pips, maybe more because it would have been hard to get the 3 lots on. The Grey areas are a 40 pip grid. Need to see a bullish or bearish support to determine which swing high or low is targeted. {image}
ABCD swing high
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 34 KB
  • #7,514
  • Jan 14, 2022 2:42am Jan 14, 2022 2:42am
In fact we now have two potential long targets which now include this AB=CD shown here on the 15m chart.
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2022-01-14 at 08.39.23.png Size: 58 KB
  • #7,515
  • Jan 14, 2022 6:48am Jan 14, 2022 6:48am
Quoting tbyen
{quote} ABCD swing high {image}
I might have this completely wrong but is this not a Sell target?
  • #7,516
  • Jan 14, 2022 7:45am Jan 14, 2022 7:45am
Hi Des, well that is why I only observe and don't post very often. I don't want to mislead anyone and rightly or wrongly it was my belief that it was a potential long AB=CD. Since my last post price has decided to go short, however, I would be interested to know why you think it was a sell 50 minutes ago and what the actual target should be?
  • #7,517
  • Jan 14, 2022 8:13am Jan 14, 2022 8:13am
Quoting mayflower
Hi Des, well that is why I only observe and don't post very often. I don't want to mislead anyone and rightly or wrongly it was my belief that it was a potential long AB=CD. Since my last post price has decided to go short, however, I would be interested to know why you think it was a sell 50 minutes ago and what the actual target should be?
Hi Mayflower,
did not make any trades but there was a Div on the 1H at around 11:00 am bar, only suggested it was a sell triangle as the cross was from above 26Ma to below 26Ma. Again this might be wrong but that was my thinking

Cheers Des
  • #7,518
  • Jan 14, 2022 10:31am Jan 14, 2022 10:31am
You guys seem to be picking it correctly'

The ABCD on the hour was hit and this was followed by a bear div being our ZOO point.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 45 KB

So we drop to the 5 min and low and behold we have a div entry. Prior to this bear div there was a bull div to take price long for 20 pips or so.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 48 KB
  • #7,519
  • Jan 14, 2022 10:58am Jan 14, 2022 10:58am
Quoting Nala66
You guys seem to be picking it correctly' The ABCD on the hour was hit and this was followed by a bear div being our ZOO point. {image} So we drop to the 5 min and low and behold we have a div entry. Prior to this bear div there was a bull div to take price long for 20 pips or so. {image}
Sold exactly that.
Attached Image (click to enlarge)
Click to Enlarge Name: H1.jpg Size: 50 KB
  • #7,520
  • Jan 14, 2022 12:24pm Jan 14, 2022 12:24pm
There you go Tbyen, not an ABCD swing high but an ABCD swing low hit to the pip. I posted an AB=CD to go long. It almost hit the target but turned south. I was stopped out for +2 pips. I went short and managed to pick up a few pips (but not all) on the way to the ABCD low target. Noted what you said as well Des, thank you.
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2022-01-14 at 18.17.03.png Size: 54 KB
13 traders viewing now, 1 is registered:
mohmmad89Z