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Trading the Cable swings via averages

  • #7,641
  • Mar 1, 2022 2:07am Mar 1, 2022 2:07am
Welcome to a new month. Looking at the monthly chart we see the average has remained as flat as a tack for the past 6 months, phew! when is it going to break into one direction or the other?
  • #7,642
  • Mar 1, 2022 2:14am Mar 1, 2022 2:14am
price reversed at daily bear support, for the rest its all unclear to me
price now in a range between h1 ema swing and h1 bear support
  • #7,643
  • Mar 1, 2022 5:45am Mar 1, 2022 5:45am
Quoting huskyboy
price reversed at daily bear support, for the rest its all unclear to me price now in a range between h1 ema swing and h1 bear support
Yep it looks pretty sloppy keeping in a fairly tight range. Note the 1 hour bull support, price keeps bouncing of it.

I can't see any signals to go long though other than it being the daily pivot level on the 15 min and being in a bullish div there.
  • #7,644
  • Mar 1, 2022 8:11am Mar 1, 2022 8:11am
Thank you so much for your answer Mr Alan <3 Can i ask about the meaning of these numbers: EMA 26, SMA 1, RSI 14, RSI 5, bar 108. Is there any hidden meaning of these numbers : 26,1,14,5 or those are only from your experience sir?
  • #7,645
  • Mar 1, 2022 8:22am Mar 1, 2022 8:22am
Hi Mr Alan can i ask about your answer in post 7635, who is Jazz sir?
  • #7,646
  • Mar 1, 2022 8:39am Mar 1, 2022 8:39am
Quoting miss
Hi Mr Alan can i ask about your answer in post 7635, who is Jazz sir?
Jazz, they call you !!! (lol)
  • #7,647
  • Edited 10:27am Mar 1, 2022 10:15am | Edited 10:27am
Quoting miss
Thank you so much for your answer Mr Alan <3 Can i ask about the meaning of these numbers: EMA 26, SMA 1, RSI 14, RSI 5, bar 108. Is there any hidden meaning of these numbers : 26,1,14,5 or those are only from your experience sir?
These numbers and their respective reasonings have been well explained. You should find the explanations written quite early in this thread.

Check the very first post for the location of the PDFs and read those.
  • #7,648
  • Mar 1, 2022 10:23am Mar 1, 2022 10:23am
And so as I go off to bed the bears have found support to take out the bull support on the 1 hour and I suspect they are headed for the swing arrow (red) as the average attempts to make the LL.
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  • #7,649
  • Mar 2, 2022 10:21am Mar 2, 2022 10:21am
Quite a battle being held here at the 50% D1 zone on the 1 hour chart.

It is starting to look like a failure to make the average LL.

Watch for the bulls finding support.
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  • #7,650
  • Mar 2, 2022 10:58am Mar 2, 2022 10:58am
Quoting Nala66
Quite a battle being held here at the 50% D1 zone on the 1 hour chart. It is starting to look like a failure to make the average LL. Watch for the bulls finding support. {image}
Hi Mr. Alan,

Please help me with this question: What is meaning of ABCD pattern? It's drawn for finding target only or anything else? And after you fingure out ABCD pattern, what are the signals to determine which way will price move, up or down?
  • #7,651
  • Mar 2, 2022 8:39pm Mar 2, 2022 8:39pm
Quoting prohaha
{quote} Hi Mr. Alan, Please help me with this question: What is meaning of ABCD pattern? It's drawn for finding target only or anything else? And after you fingure out ABCD pattern, what are the signals to determine which way will price move, up or down?
ABCD is a particular and specific type of divergence in that it indicates quite nicely the swing levels price will aim for. Also the 50% distance of these moves is also an important level to watch out for. The distance CD is taken from the distance AB. The AC is the divergence.
  • #7,652
  • Mar 3, 2022 3:56am Mar 3, 2022 3:56am
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the way i saw it this morning :
- 2bt 1 FO in RRBED H1 and M5
- 2bt 2 price crossed its ema and made bear support
- 2bt 3 LO hedge in RRBUD m5 at ema swing
- 2bt 4 in RRBED M5 as price failed to take out the ema
- 2bt 5 i expected a lot from this one BUD and HD M5, rsi showed bull strenght, and the H1 printed at that point a BUD, all at the ema H1 ZOO; price failed to
out the ema and dropped real fast, why?
  • #7,653
  • Mar 3, 2022 6:13am Mar 3, 2022 6:13am
Quoting huskyboy
{image}the way i saw it this morning : - 2bt 1 FO in RRBED H1 and M5 - 2bt 2 price crossed its ema and made bear support - 2bt 3 LO hedge in RRBUD m5 at ema swing - 2bt 4 in RRBED M5 as price failed to take out the ema - 2bt 5 i expected a lot from this one BUD and HD M5, rsi showed bull strenght, and the H1 printed at that point a BUD, all at the ema H1 ZOO; price failed to out the ema and dropped real fast, why?
ofcourse the price line on the h1 needs to be connected at the closes of the bars, not at the lows as shown, but the result stays the same.
And for now, can the H1 make bear support?
  • #7,654
  • Mar 3, 2022 9:05am Mar 3, 2022 9:05am
I think we are in a very volatile situation and we should guard ourselves from these violent swings.

I have been taking my signals from the 5 min chart only accepting many quick trades taking whatever they pay.

These trades accumulate a healthy sum during my trading session so all is not so bad.
  • #7,655
  • Edited 12:50pm Mar 3, 2022 9:28am | Edited 12:50pm
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H1 made bear support, next price retested that area in a rsi/rsi bear divergence.
Q: the candle after the bear support retraced and closed above the ema, is the bear support still valid after that retrace and close?
  • #7,656
  • Mar 4, 2022 1:14am Mar 4, 2022 1:14am
Quoting huskyboy
{image}H1 made bear support, next price retested that area in a rsi/rsi bear divergence. Q: the candle after the bear support retraced and closed above the ema, is the bear support still valid after that retrace and close?
No it is not valid since both bars were pointing up, no pivot was formed until the cross over.
  • #7,657
  • Mar 4, 2022 1:24am Mar 4, 2022 1:24am
I didn't trade this section but notice the following points...

!) The bears 'forgot' to find support before taking out the bull support so they went back to find it.

2) The bears were in a bull div when they hit the blue ABCD target.

3) There are a couple of larger targets outstanding.
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  • #7,658
  • Mar 4, 2022 1:41am Mar 4, 2022 1:41am
Quoting Nala66
{quote} No it is not valid since both bars were pointing up, no pivot was formed until the cross over.
Thank you Alan, i thought the support is drawn on the last pullbackcandle's wick of the first pullback after price crosses the ema. So i am wrong in that statement?
  • #7,659
  • Mar 4, 2022 4:08am Mar 4, 2022 4:08am
Quoting huskyboy
{quote} Thank you Alan, i thought the support is drawn on the last pullbackcandle's wick of the first pullback after price crosses the ema. So i am wrong in that statement?
Yes you may call it a continuation of the pull back, meaning that one bar was beaten by the opposition so they couldn't find support there.
  • #7,660
  • Mar 4, 2022 9:27am Mar 4, 2022 9:27am
Well that was close enough for me as I head off to bed. It got with 7 pips or so of the target.
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