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Trading the Cable swings via averages

  • #7,621
  • Feb 24, 2022 3:25am Feb 24, 2022 3:25am
Quoting Nala66
{quote} Can you show an example of what you mean on a chart?
Here it is
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  • #7,622
  • Edited 4:17am Feb 24, 2022 3:46am | Edited 4:17am
failed to take out prev high, bearish strenght, 2bt, just my opinion
  • #7,623
  • Feb 24, 2022 4:06am Feb 24, 2022 4:06am
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AB=CD filled
  • #7,624
  • Feb 24, 2022 8:53am Feb 24, 2022 8:53am
Quoting tbyen
{quote} Here it is {image}
Oh, I think I see what you are getting at.

The hook is simply a retest of the div so in this case you would be looking to short because the div was bearish. So you place your pending order in a position to be picked up when the price turns south again.

There is no actual signal for a hook because it is a signal in itself.

You could look at the fact that the fast RSI didn't close above the slow RSI, something I do myself a fair bit for an entry.
  • #7,625
  • Feb 24, 2022 9:01am Feb 24, 2022 9:01am
Looking at the daily chart we see the bounce of the 50% ABCD level and price looks like heading for the D1
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  • #7,626
  • Feb 24, 2022 9:57am Feb 24, 2022 9:57am
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Strange, i got a bear rsi/rsi at the daily indicating the drop.
And what's the meaning of that horizontal line on your rsi14?
  • #7,627
  • Feb 24, 2022 7:11pm Feb 24, 2022 7:11pm
Quoting huskyboy
{image}Strange, i got a bear rsi/rsi at the daily indicating the drop. And what's the meaning of that horizontal line on your rsi14?
Sorry that line is just one I use to continue checking the chart, I forgot to remove it.

The AB = CD on your chart I dismissed because C had exceeded a 61.8 retrace.

All those pips down and it just failed to hit the D1 (Incredible) Then it has bounced back to the bear resistance
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  • #7,628
  • Feb 25, 2022 8:57am Feb 25, 2022 8:57am
Hi Mr Alan, can i ask which template should we use? Because in the night template the SMA1 apply to close but in the bright template the SMA1 apply to both high and low. Which is better? Thanks Mr Alan.
  • #7,629
  • Feb 25, 2022 10:03am Feb 25, 2022 10:03am
Quoting miss
Hi Mr Alan, can i ask which template should we use? Because in the night template the SMA1 apply to close but in the bright template the SMA1 apply to both high and low. Which is better? Thanks Mr Alan.
The SMA1 should be applied to all because it represents a line chart enabling you to clearly see the pivot swings.

By applying it to the both the high and low you get a range of values price moved in but we don't really need this.
  • #7,630
  • Feb 25, 2022 11:59am Feb 25, 2022 11:59am
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daily overvieuw, got the LO pips but gave some back in the ranging area to catch the long. It took 4 hours to get price to the H1 ema after that RRBUD (rsi/rsi bull div)
  • #7,631
  • Edited 1:13pm Feb 25, 2022 12:51pm | Edited 1:13pm
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perfect setup short, that H1 bull candle ended in a regular bear div (BED, red arrow candle), the next candle went higher towards the bear support, the M5 did this in a RRBED (rsi/rsi bear div), the 2bt gave the first entry, price went down to its ema, broke it but failed to make the bear support and so retraced to the 50% of the M5 ABCD(to make the hook), fast rsi showed bear strenght while making this hook and 2bt gave the second entry, price broke the ema, made BES, and 2bt at C-level gave the third entry. Just my opinion
  • #7,632
  • Feb 25, 2022 7:16pm Feb 25, 2022 7:16pm
Quoting huskyboy
{image}daily overvieuw, got the LO pips but gave some back in the ranging area to catch the long. It took 4 hours to get price to the H1 ema after that RRBUD (rsi/rsi bull div)
Well read and great charting
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  • #7,633
  • Feb 25, 2022 7:18pm Feb 25, 2022 7:18pm
Quoting huskyboy
{image} perfect setup short, that H1 bull candle ended in a regular bear div (BED, red arrow candle), the next candle went higher towards the bear support, the M5 did this in a RRBED (rsi/rsi bear div), the 2bt gave the first entry, price went down to its ema, broke it but failed to make the bear support and so retraced to the 50% of the M5 ABCD(to make the hook), fast rsi showed bear strenght while making this hook and 2bt gave the second entry, price broke the ema, made BES, and 2bt at C-level gave the third entry. Just my opinion
Good stuff but this was way outside my trading time.
  • #7,634
  • Feb 26, 2022 10:33am Feb 26, 2022 10:33am
Hi Mr Nala,i am new to your system. I have just read until page 6 but can i have some questions: 1.If i read all the posts in this thread is that enough for me to make money? 2. Can you share me how to succeed with your system in 1 year? Is that possible? How many hours can i practice to master in the system? Hope that other traders dont laugh at me. I want to follow only one system. I saw some traders feel this system difficult to follow so they give up or they combine with other systems to make a new system. Hope that Mr Nala can send me some motivation so i can persist in learning and practicing. Thank you Mr Nala!
  • #7,635
  • Feb 26, 2022 11:20pm Feb 26, 2022 11:20pm
Quoting miss
Hi Mr Nala,i am new to your system. I have just read until page 6 but can i have some questions: 1.If i read all the posts in this thread is that enough for me to make money? 2. Can you share me how to succeed with your system in 1 year? Is that possible? How many hours can i practice to master in the system? Hope that other traders dont laugh at me. I want to follow only one system. I saw some traders feel this system difficult to follow so they give up or they combine with other systems to make a new system. Hope that Mr Nala can send me some...
Hello Miss.

I am not suggesting for one moment that this is the way for anyone to trade. It is simply the way I trade and I have taken great pains to show what I am looking for in terms of Timing, Entries, Targets and Money Management. It is not a system as such rather a systematic way of looking at things and solving for X in order to make a profit.

Q1) Reading is not going to give you any skills. If I read a book about brain surgery would you let me operate on you, I think not. Rather you need to look at the elements and identify them on your charts and see for yourself if what I have described holds true. I get it wrong sometimes too, that is why I have a MM plan to protect myself. For you to make money you could specialize in any or all I have described and even add in your own twist which I would be happy to hear about.

Q2) Not sure about it taking you a year since I have put in many years to save you the time. If you want to follow just one so called system then set up your charts specifically for it alone. For example Hidden Divergence pays well so just learn that process and practice it to see what can go wrong. Once one method is mastered and profitable you may move to add another such as an AB = CD or the more difficult ABCD always in every case using your Money Management.

As far as others laughing at you, aim at you having the last laugh. Though I don't think anyone is laughing we all had to start somewhere. Anyone can develop a system which is generally associated with one way to trade and if it works consistently then who am I to say they are wrong. There are thousands of books on systems and the grass is always greener or so it would seem if we drop everything and go down their path. This is common for traders to do so thy become Jack of all trades and master of none, but that is their choice.

I am not Mr Nala, my name is Alan and you are welcome to call me that.

The people who 'Get It' are mostly the people who ask questions so they can fully understand.

Wish you luck...
  • #7,636
  • Feb 27, 2022 8:42pm Feb 27, 2022 8:42pm
On the daily chart we see the bears have found support...
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  • #7,637
  • Feb 28, 2022 3:35am Feb 28, 2022 3:35am
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Alan is that last BES BUR area correctly drawn or is it the high of the first pullback candle? Thx
  • #7,638
  • Feb 28, 2022 5:02am Feb 28, 2022 5:02am
Quoting huskyboy
{image}Alan is that last BES BUR area correctly drawn or is it the high of the first pullback candle? Thx
I always take it as the first close across the EMA.

Like this...
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  • #7,639
  • Feb 28, 2022 12:03pm Feb 28, 2022 12:03pm
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its obvious now, it wasn't this morning, always the same
  • #7,640
  • Feb 28, 2022 8:35pm Feb 28, 2022 8:35pm
Quoting huskyboy
{image}its obvious now, it wasn't this morning, always the same
Remember to keep the swing targets in mind all the time...

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This helps to keep your direction on track.

For example when trading above the average the bear signals are hedges and the bull signals are opportunities to add to the position.
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