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Trading the Cable swings via averages

  • #7,661
  • Mar 4, 2022 5:28pm Mar 4, 2022 5:28pm
Ha Ha, I wake up to find it exactly hit the target and bounced off it for almost another 50 long pips. On my trusty 5 min chart it was in bullish divergence when it hit.

By the way I take the one hour target line and put it on my five min chart (below). If you look at the price chart in conjunction with the two speed RSI's You will see plenty of short signals, look for them as the price pulls back to the EMA.
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  • #7,662
  • Mar 4, 2022 5:56pm Mar 4, 2022 5:56pm
Now I am wondering if this huge AB = CD (green) is on the cards.
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  • #7,663
  • Mar 4, 2022 7:51pm Mar 4, 2022 7:51pm
Quoting Nala66
{quote} 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.
Sorry sir, I mean what should we do since ABCD is formed? I've noted as attc below
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  • #7,664
  • Mar 5, 2022 1:07am Mar 5, 2022 1:07am
Quoting prohaha
{quote} Sorry sir, I mean what should we do since ABCD is formed? I've noted as attc below {image}
Well if price is trading below the average then look for the shorts to take it to the lower target.

If price is trading above the average then look for the longs to take it to the top target.
  • #7,665
  • Mar 7, 2022 3:17pm Mar 7, 2022 3:17pm
Target reached.

I cannot see anymore targets just yet.
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  • #7,666
  • Mar 8, 2022 5:54pm Mar 8, 2022 5:54pm
I awake and finally see a signal. An ABCD has formed and already bounced at the D1 50% level.

Could this be a start of the rollover? Always a hard thing to do to trade at the EMA level.
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  • #7,667
  • Mar 8, 2022 6:03pm Mar 8, 2022 6:03pm
Looking at the daily chart it would appear the bears are not done yet with the average trying to make a LL and the next bear resistance way down there at 2918.
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  • #7,668
  • Mar 9, 2022 5:08am Mar 9, 2022 5:08am
Hi Alan.

Would you keep the smaller ABCD when price hits the bigger 50% to the pip twice?
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  • #7,669
  • Mar 9, 2022 5:37am Mar 9, 2022 5:37am
Quoting Fantaburk
Hi Alan. Would you keep the smaller ABCD when price hits the bigger 50% to the pip twice? {image}
I always opt for the smallest target, that way I am not disappointed if it makes the larger one.

So my chart looks like this and easily made my required pips.

I often wonder about the blue one I have here because the point C is a tad higher than the previous one so I wonder if it is a correction of sorts.
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  • #7,670
  • Mar 11, 2022 2:43am Mar 11, 2022 2:43am
And as this is often the case I cannot tell if the red or the blue was the target...
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  • #7,671
  • Edited 3:34am Mar 11, 2022 2:58am | Edited 3:34am
My guess is that the bulls will now test the 3112 Resistance.

Edit:... Made it easily.
  • #7,672
  • Mar 11, 2022 3:36am Mar 11, 2022 3:36am
Now can the Bulls find support above the EMA to go on and target the 3161 average swing high
  • #7,673
  • Mar 11, 2022 3:45am Mar 11, 2022 3:45am
Quoting Nala66
Now can the Bulls find support above the EMA to go on and target the 3161 average swing high
Check out to see if you can see 1.34 in the equation
  • #7,674
  • Mar 11, 2022 8:40am Mar 11, 2022 8:40am
Quoting Nd10
{quote} Check out to see if you can see 1.34 in the equation
Well not at all. The bulls didn't find support so why would it be long.

Best option is short off the AB = CD which takes it down to 2977
  • #7,675
  • Mar 15, 2022 8:40am Mar 15, 2022 8:40am
Here you go
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File Type: ex4 #MA_in_Color.ex4   12 KB | 290 downloads
  • #7,676
  • Mar 17, 2022 4:43pm Mar 17, 2022 4:43pm
Been a good week for trading with lots of signals to have a go at.

The 1 hour chart below shows the ZOO points I came across and the green ones are the ones I had a go at.

Just thought I would post it for those interested. I left off the RSI lines for you to work out for yourself and give you the exercise.
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  • #7,677
  • Mar 17, 2022 4:56pm Mar 17, 2022 4:56pm
By saving screenshots of the 1 hour like the above, marking them yourself as appropriate , you get a good grip on the trades available.

I save mine in a folder called 'A Week At The ZOO' and normally do this over the weekend.

I have also changed my money management plan but I don't know how it will pan out for a year or so. As they say though, so far so good.

Hope everyone is making barrels of bucks.
  • #7,678
  • Mar 18, 2022 5:25am Mar 18, 2022 5:25am
Quoting Nala66
By saving screenshots of the 1 hour like the above, marking them yourself as appropriate , you get a good grip on the trades available. I save mine in a folder called 'A Week At The ZOO' and normally do this over the weekend. I have also changed my money management plan but I don't know how it will pan out for a year or so. As they say though, so far so good. Hope everyone is making barrels of bucks.
Please share us your new money management, Sir.
  • #7,679
  • Mar 18, 2022 8:01am Mar 18, 2022 8:01am
Quoting prohaha
{quote} Please share us your new money management, Sir.
I am reluctant to share it just yet because I need to prove to myself it works out as I imagine it should. Imagination is not proof.

Give me at least 100 days to test this.
  • #7,680
  • Mar 19, 2022 12:55am Mar 19, 2022 12:55am
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