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Trading the Cable swings via averages

  • #8,301
  • Sep 24, 2022 2:03am Sep 24, 2022 2:03am
Here is the 1-hour chart.

Just look at all that bear support and how the bull supports came to very little.

Not difficult to pick the direction only the distance.
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  • #8,302
  • Sep 25, 2022 5:51am Sep 25, 2022 5:51am
Not sure what is going to happen tomorrow. The higher times frames say there is more downward to come.

The 5 min however has hit its target and not broken it. It may even gap down?

Then we should see a retest of the ABCD target now being a bull resistance.

We'll see.

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  • #8,303
  • Sep 25, 2022 9:21am Sep 25, 2022 9:21am
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  • #8,304
  • Sep 25, 2022 9:24am Sep 25, 2022 9:24am
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  • #8,305
  • Sep 25, 2022 10:43am Sep 25, 2022 10:43am
Quoting parisboy
{image}
Nice pictures but helps me in no way. Wheres the 26EMA and RSI?
Must be posted here by mistake.
  • #8,306
  • Sep 25, 2022 11:11am Sep 25, 2022 11:11am
Quoting 40PipsAlan
{quote} Nice pictures but helps me in no way. Wheres the 26EMA and RSI? Must be posted here by mistake.
I do not use 26EMA and RSI .

But when I trade Cable Swings I use Moving Averages (Centered)
  • #8,307
  • Sep 25, 2022 6:35pm Sep 25, 2022 6:35pm
Quoting Nala66
Not sure what is going to happen tomorrow. The higher times frames say there is more downward to come. The 5 min however has hit its target and not broken it. It may even gap down? Then we should see a retest of the ABCD target now being a bull resistance. We'll see. {image}
Well, that came true the ABCD target did become resistance after the gap down.

Still no sign of the bearish halt. These moves are extreme, and one risks a lot on such trades so I will wait until it settles down a tad because I have no targets.

Going fishing on Thursday so maybe by next Monday things will return to some sort of normal.

Look at the size of the spread, it is bouncing up to 6 pips or so and lots of 30 pip moves in one minute........Phew!!!
  • #8,308
  • Sep 25, 2022 6:47pm Sep 25, 2022 6:47pm
So far, this morning is has made hundreds of pips down and has now recovered 50%.

In fact, that was a tad over 500 pips down.

I expect it to settle a little now.
  • #8,309
  • Sep 25, 2022 6:56pm Sep 25, 2022 6:56pm
The bulls have support on the 1-minute chart but not even reached the EMA on the higher ones. I do have RSI bull div on the hour. So, if this fails the EMA we could see an even LL.

From the support on the 1 minute, it made 80 pips in 9 minutes... phew!
  • #8,310
  • Sep 25, 2022 9:47pm Sep 25, 2022 9:47pm
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What a crazy day and a good opportunity to practice reading the chart at the 1-minute level.

Before I clean up my chart this is what it looks like currently.

The grid is ten pips so we can see some huge moves here.

Missing off this chart is the EMA swing high where price hit.
  • #8,311
  • Sep 26, 2022 1:57am Sep 26, 2022 1:57am
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  • #8,312
  • Sep 26, 2022 2:04am Sep 26, 2022 2:04am
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  • #8,313
  • Sep 26, 2022 2:11am Sep 26, 2022 2:11am
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  • #8,314
  • Sep 26, 2022 2:13am Sep 26, 2022 2:13am
So, for the brave of heart the bull RSI div has returned price to the EMA
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  • #8,315
  • Sep 26, 2022 2:14am Sep 26, 2022 2:14am
What we need to see now is some bull supports to take out those bear supports.
  • #8,316
  • Sep 26, 2022 2:17am Sep 26, 2022 2:17am
Quoting parisboy
{image}
Haven't got a clue what is in your mind
  • #8,317
  • Edited 2:35am Sep 26, 2022 2:21am | Edited 2:35am
Quoting Nala66
{quote} Haven't got a clue what is in your mind

If you do not see Channels and Sinewaves Oscillating around a Trend ., I am sorry for you

Moreover Channel boundaries acts as Support and Resistance

Channel Depth is a good indication of Swing's Amplitude

The Trend is given by the Centered Moving Averages 256 (brown) and 128 (ocre) which are presently UP and more or less Parallel and sometimes merge in the Centerline (middle of the Swing ) which reenforces a) the strength of the Trend and the strength of the Centerline as Support or Resistance
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  • #8,318
  • Sep 26, 2022 2:35am Sep 26, 2022 2:35am
Quoting parisboy
{quote} If you do not see Channels and Sinewaves Oscillating around a Trend ., I am sorry for you Moreover Channel boundaries acts as Support and Resistance Channel Depth is a good indication of Swing's Amplitude
Still don't know what that has to do with this thread.
  • #8,319
  • Sep 26, 2022 2:37am Sep 26, 2022 2:37am
Quoting parisboy
{quote} If you do not see Channels and Sinewaves Oscillating around a Trend ., I am sorry for you Moreover Channel boundaries acts as Support and Resistance Channel Depth is a good indication of Swing's Amplitude The Trend is given by the Centered Moving Averages 256 (brown) and 128 (ocre) which are presently UP and more or less Parallel and sometimes merge in the Centerline (middle of the Swing ) which reenforces a) the strength of the Trend and the strength of the Centerline as Support or Resistance {image}
Would this be the English Channel or the French Channel?
  • #8,320
  • Sep 26, 2022 2:43am Sep 26, 2022 2:43am
Additionally you could have opened a Short position just after Price Action broke Channel's Lower Boundary

Target Price 1. 06780 +/- 0,00120
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