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Trading the Cable swings via averages

  • #8,221
  • Sep 16, 2022 2:48am Sep 16, 2022 2:48am
Quoting ThanksDana
{quote} I wonder where is master's entry today. and how many entries he have .
I got one in today for +36. That will do me
I think progress is being made with 2 weeks of profits overall.
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  • #8,222
  • Sep 16, 2022 3:04am Sep 16, 2022 3:04am
Still working on this divergence indi. Will post when I am happy with it.
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  • #8,223
  • Sep 16, 2022 9:48am Sep 16, 2022 9:48am
Just sneek in with another +38. Have a good weekend guys.
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  • #8,224
  • Sep 17, 2022 1:24am Sep 17, 2022 1:24am
Quoting ThanksDana
{quote} I wonder where is master's entry today. and how many entries he have . TP hit at ABCD H4 and go deeper. Thanks our master for this win {image}
Well, it was a messy start for me not having a target to aim for, but I got my pips eventually.

Known as a box trade, some may find this interesting, I find them impossible to stop, except in hindsight.
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  • #8,225
  • Sep 17, 2022 1:35am Sep 17, 2022 1:35am
I'll show what a mess my 5 min chart was in
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You can see how scary this was where my entries were. They were very tight, and I was expecting a loss here, but it came good. Trusting the signals in spite of the danger. Once price broke out of the top box, I moved the stops to protect from loss with a huge sigh of relief.
  • #8,226
  • Sep 17, 2022 1:42am Sep 17, 2022 1:42am
Quoting 40PipsAlan
Just sneek in with another +38. Have a good weekend guys. {image}
Well done for picking this ABCD. It made it exactly to D; I was asleep by this time.
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  • #8,227
  • Sep 17, 2022 1:44pm Sep 17, 2022 1:44pm
Quoting 40PipsAlan
Just sneek in with another +38. Have a good weekend guys. {image}
Just reviewing my previous trades to make things sink in hopefully. So much easier with hindsight. Trading long against the H1 EMA trend so my target was the H1 EMA, tick. I got the alert for a new ABCD on the M5 and the H1 looked to have a tweezer bottom earlier in the day so I figured it was about time for a H1 EMA test.
We got a break of the M5 EMA with bull support followed by the hook and then up it went. Obviously I went in too early but it turned good in the end.
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  • #8,228
  • Sep 17, 2022 2:10pm Sep 17, 2022 2:10pm
My first trade yesterday at our normal LO time was based on the terrible GBP news so I jumped on the short albeit late due to work commitments. I couldn't see any H1 inference apart from the one 2 hours previous.
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  • #8,229
  • Sep 17, 2022 10:10pm Sep 17, 2022 10:10pm
Quoting 40PipsAlan
{quote} Just reviewing my previous trades to make things sink in hopefully. So much easier with hindsight. Trading long against the H1 EMA trend so my target was the H1 EMA, tick. I got the alert for a new ABCD on the M5 and the H1 looked to have a tweezer bottom earlier in the day so I figured it was about time for a H1 EMA test. We got a break of the M5 EMA with bull support followed by the hook and then up it went. Obviously I went in too early but it turned good in the end. {image}
Couple of corrections here...
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  • #8,230
  • Sep 17, 2022 10:11pm Sep 17, 2022 10:11pm
Quoting 40PipsAlan
My first trade yesterday at our normal LO time was based on the terrible GBP news so I jumped on the short albeit late due to work commitments. I couldn't see any H1 inference apart from the one 2 hours previous. {image}
I don't look at the news at all because it distracts from the reality of the charts
  • #8,231
  • Sep 18, 2022 3:01am Sep 18, 2022 3:01am
Quoting Nala66
{quote} Couple of corrections here... {image}
Cheers boss. Does that also mean my Bear support is off as well?
Bull support needs to take out bear support for a long trade.
  • #8,232
  • Sep 18, 2022 4:25am Sep 18, 2022 4:25am
Quoting 40PipsAlan
{quote} Cheers boss. Does that also mean my Bear support is off as well? Bull support needs to take out bear support for a long trade.
If your line is pointing to the top of the blue bar which it looks like it is, then it is fine.

With the green ABCD I have corrected it has hit the target on my 5 min chart.
  • #8,233
  • Sep 18, 2022 11:21am Sep 18, 2022 11:21am
Could this be the epiphany that I have been waiting for:-
1. break of the 26 EMA and Bear support found. I expect some traders went short here also being below the H1 EMA. This proved to be the wrong trade as we had bullish divergence a candle later.
2. Enough time to get to BE at around 16 pips should it reverse.
3. Bear support null and void on the close of this candle. Somewhere along the thread i got confused in that bull support needed to be above bear support. Now I see its just price breaking Bear suppport to render it void. Its now the turn of the bulls to find support and take it upwards.
4. Bull support on this candle that also doesnt close below the EMA. Also bullish divergence. I expect the candle before would have also been good for a tester trade long.
Tester long trade with small lots at this point. Goes against human nature placing a long trade on a bear candle but I need to get over this. Anyway TP is the H1 EMA. Job done. Just need more practice in real time.

p.s UK Bank hols tomorrow so taking the day off.
Keep practicing guys. This strategy is a winner.
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  • #8,234
  • Sep 19, 2022 12:47am Sep 19, 2022 12:47am
Both the Bull and Bear supports have fascinated me for years.

They often transpose from one to the other.

See on the 5 min chart here. On the left we have bull support and price went on to find a second one.

Then we get the bear support to take out the bull. But what about the first bull support where is the bear support to take that out.

Well by extending the red line of the first bull support we can see it transposes into a bear support which we can now call bull resistance.

Then if we look at the EMA we see it is trying to make the LL, there being no bull support above it. Thus, if the EMA is trying for a LL then most certainly price do the same because it is impossible for the EMA to make a LL if the price does not since price leads the EMA to its destination.

Got it, good!
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  • #8,235
  • Sep 19, 2022 1:04am Sep 19, 2022 1:04am
Now let's introduce another bull support into the mix.

See how the bears tried a couple of times to find support to be able to take it out but failed with the bulls voiding their attempts.

So, we end up with no bear support to take out the bull support.

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This bull support is still current until it is taken out and some can grow very old running off the chart. It is a good idea to keep a diary of them for future reference.
  • #8,236
  • Sep 19, 2022 1:30am Sep 19, 2022 1:30am
And there you go. Paid me 15 pips, thank you very much.
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  • #8,237
  • Sep 19, 2022 1:34am Sep 19, 2022 1:34am
Now can the bulls find support to take out the bear one. Or will the bears find support to take out the bull one.

Best wait and see hey!
  • #8,238
  • Sep 19, 2022 1:36am Sep 19, 2022 1:36am
The tension is building...........
  • #8,239
  • Sep 19, 2022 1:41am Sep 19, 2022 1:41am
Neither side has it yet the bears voided the bull effort.
  • #8,240
  • Sep 19, 2022 1:44am Sep 19, 2022 1:44am
I think the bears still have the ability to eat up the whole liquidity underneath.
WARNING: This post warps space and time in its vicinity.
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