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Trading the Cable swings via averages

  • #8,361
  • Sep 28, 2022 12:37pm Sep 28, 2022 12:37pm
Another roller coaster day at one point dragging the account down by -2.5%. However a good recovery made in the US session bringing the weekly loss to -0.4%
All to play for in the next 2 days.
  • #8,362
  • Sep 28, 2022 1:44pm Sep 28, 2022 1:44pm
Quoting Del62a
{quote} Parisboy Can you please start your own thread with your posts and photos. I am sure your method works , so please start your own thread and post your photos there. I am sure you will have many subscribers. I have been a follower of the Cable swing thread for the past 3 years and most people who come here respect this thread and learn a lot from Alan's teachings. This will help traders who like the Cable swing method focus on what Alan is teaching us on this thread.

Seriously do I have to take into account the opinion of a groupie who post 1 message per month ? you are grotesque
  • #8,363
  • Sep 28, 2022 2:32pm Sep 28, 2022 2:32pm
Looks like the BOE bond buying did the trick and got things moving again.
I am trying to look at the big picture of EMA break and retest on all TF and not so much on divergence. As always hindsight is a wonderful thing and the picture looks to have these features, we just need to spot these in real time. I have switched to pending orders waiting on the top of the retest candle for when price comes back up again. If it doesnt and crosses back over the EMA then i can close the pending order. If only I had held my trades a bit longer. dam
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  • #8,364
  • Sep 28, 2022 9:07pm Sep 28, 2022 9:07pm
Quoting ThanksDana
{quote} Dear Master, At red point B: you short because of bear RSI div on M1, bear RSI div on M5, hook figure and market at EMA 30 as resistence. Are there any other reasons to short at B ? I have some questions: 1. why you don't short at A with bear regular div 2. And on M5 it seem we don't have bear RSI div {image}
Well you might note these are about the 50% retracements of the Divs
  • #8,365
  • Sep 28, 2022 9:20pm Sep 28, 2022 9:20pm
Quoting 40PipsAlan
Well that big spike took me by surprise. Too quick to get my SL moved and then went and took my SL out. Dam UK government stepping in to buy Bonds to stabilize the markets.
This is why I gave the warning of possible huge spikes in a matter of minutes.
  • #8,366
  • Sep 28, 2022 9:27pm Sep 28, 2022 9:27pm
Watch out for all these ZOO points on the hour. The grid is 50 pips so some of these are huge moves.

The big moves should easily be paying for any small losses.

For example, the last RSI div here would have possibly got you stopped out but if we look at the 5 min chart, we see we are trading below the average so a long trade would be iffy.
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  • #8,367
  • Sep 28, 2022 9:57pm Sep 28, 2022 9:57pm
Quoting parisboy
{quote} Seriously do I have to take into account the opinion of a groupie who post 1 message per month ? you are grotesque
Boy you have some mouth on you.

People here are trying very hard to learn somethings of value and they don't for one minute have to put up with the class idiot.

Your method of trading is totally out of sync with what we are doing here and as such has no merit.

If you have something to say of relevance then fine, if not then say it where people are prepared to listen.
  • #8,368
  • Sep 28, 2022 9:57pm Sep 28, 2022 9:57pm
Going fishing today be back on Monday.
  • #8,369
  • Edited 3:13am Sep 29, 2022 3:03am | Edited 3:13am
Quoting Nala66
Going fishing today be back on Monday.
Looking like a good shout Alan. H4 EMA close by and H1 deciding which way to go. Divergence says up but I am waiting for price to get out the box.
Tight range on the M5.
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  • #8,370
  • Sep 29, 2022 4:46am Sep 29, 2022 4:46am
Nice got my 1% today. Going fishing too
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  • #8,371
  • Sep 29, 2022 4:58am Sep 29, 2022 4:58am
Quoting 40PipsAlan
Nice got my 1% today. Going fishing too {image}
i lied. Stuck at work for the next 5 hours
  • #8,372
  • Sep 29, 2022 2:18pm Sep 29, 2022 2:18pm
After today's lucky trades i want to keep momentum going by monitoring todays charts specifically the H1 zoo points. These will be where price interacts with the EMA on H1 and H4/D1 along with SR levels. Attached M5 picture shows my trades today and I then watched the H4 EMA Zoo box. We are above the H1 EMA so I am looking for long trades only and I see 3 opportunities where the EMA gets broken and bull support level achieved. I then drop to the M1 chart for a better view of the action.
Trade 1. Vertical on the left is where the M5 bull support tells me to look closer. We get a break of the M1 EMA and retest for M1 Bull support and a run up of 30 pips to get us to BE at least. I expect Alan can tell us where the exit here was. I am still getting to grips with divergence.
Trade 2. Not seeing much of use here.
Trade 3. Another EMA break and retest before the big run up for lots of pips. Shame I didn't put a trade on.
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  • #8,373
  • Sep 30, 2022 2:08am Sep 30, 2022 2:08am
First trade of the morning missed whilst traveling to work. 55 pip movement.
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  • #8,374
  • Sep 30, 2022 1:53pm Sep 30, 2022 1:53pm
Roller coaster week finally over. Demo ended up -$8 down for the week. Will recover that next week. On with the chart studying.
  • #8,375
  • Oct 2, 2022 2:21pm Oct 2, 2022 2:21pm
So whats the analysis on GU for our trading time (Frankfurt open).
Daily Chart trying to stop the average going any lower. Bear support only
H4 is above the EMA and trying to get higher. We have Bull support.
H1 is above the EMA and trying to get higher. We have Bull support. Price currently ranging on a ABCD 50% level.
M15 we have Bull support.
On the M5 we have an ABCD triangle and tight range. Bull and bear support yet to be maintained.
So my bias is long for now and awaiting to see what happens at market open. It could go either way.
  • #8,376
  • Oct 3, 2022 2:28am Oct 3, 2022 2:28am
Quoting 40PipsAlan
So whats the analysis on GU for our trading time (Frankfurt open). Daily Chart trying to stop the average going any lower. Bear support only H4 is above the EMA and trying to get higher. We have Bull support. H1 is above the EMA and trying to get higher. We have Bull support. Price currently ranging on a ABCD 50% level. M15 we have Bull support. On the M5 we have an ABCD triangle and tight range. Bull and bear support yet to be maintained. So my bias is long for now and awaiting to see what happens at market open. It could go either way.
Today missed big move of cable, it so quickly
  • #8,377
  • Oct 3, 2022 12:30pm Oct 3, 2022 12:30pm
What a day. I too missed the big 120 pip run up caused by the chancellor doing a u turn on the mini budget done only 10 days ago which caused the pound to crash last week. I then spent much of the day trying some long trades on the M5 ending up with -1% on the account. Then the bad US news popped along and pushed the pound up 100 pips to the daily EMA which I also missed. Maybe tomorrow will be different.
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  • #8,378
  • Oct 4, 2022 3:44am Oct 4, 2022 3:44am
Managed to grab +0.5% today and kicked out by my trail stop.
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  • #8,379
  • Oct 5, 2022 12:46am Oct 5, 2022 12:46am
Quoting 40PipsAlan
What a day. I too missed the big 120 pip run up caused by the chancellor doing a u turn on the mini budget done only 10 days ago which caused the pound to crash last week. I then spent much of the day trying some long trades on the M5 ending up with -1% on the account. Then the bad US news popped along and pushed the pound up 100 pips to the daily EMA which I also missed. Maybe tomorrow will be different. {image}
It doesn't matter what the cause is. It is the effect we are interested in.

Look at this 4-hour chart for two AB = CDs in a row.
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  • #8,380
  • Oct 5, 2022 7:01am Oct 5, 2022 7:01am
This time I drew it on the 30 min chart and another one bites the dust
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