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Trading the Cable swings via averages

  • #8,421
  • Oct 12, 2022 11:38am Oct 12, 2022 11:38am
Quoting Nala66
{quote} This is not even close to being an ABCD. It is simply a bear divergence.
Thank Alan.
  • #8,422
  • Oct 12, 2022 1:37pm Oct 12, 2022 1:37pm
Quoting LFrZero
{quote} Thank Alan.
Hey, why dont you use the indicator made for detecting the abcd´s, just look at post 7337 from Alan, hope it helps.
  • #8,423
  • Oct 12, 2022 10:52pm Oct 12, 2022 10:52pm
Quoting huskyboy
{quote} Hey, why dont you use the indicator made for detecting the abcd´s, just look at post 7337 from Alan, hope it helps.
Thank huskyboy. I really appreciate that.
  • #8,424
  • Oct 13, 2022 2:42am Oct 13, 2022 2:42am
Well this isnt looking good. Everything all jammed around the H4 EMA. Time to go fishing Alan?
  • #8,425
  • Oct 13, 2022 6:43am Oct 13, 2022 6:43am
Looks like its getting a wiggle on to go somewhere. H1 above the EMA so looking for long trades. M5 found some bull support so jumped in for a tester trade. Closed this trade for 63 pips after some M5 divergence showing. jumped in again for another trade up to the next H1 Average level at 1.12001.
Got myself 0.6% today after deciding not to go fishing.
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  • #8,426
  • Edited 5:57am Oct 14, 2022 5:02am | Edited 5:57am
Todays trading for 0.5% on the account. Not too bothered about lotsizing yet, more interested in consistent +profits daily and weekly. Action around the H1 EMA a bit intense for me but practice makes perfect. Took the hedge when divergence showed on the M5. Second hedge was expecting a pullback to the H1 EMA but got a big spiky candle instead. H1 failed to make a HH average so expecting it to have another go at the last average at 1.12004.
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  • #8,427
  • Oct 14, 2022 6:45am Oct 14, 2022 6:45am
Quoting 40PipsAlan
Todays trading for 0.5% on the account. Not too bothered about lotsizing yet, more interested in consistent +profits daily and weekly. Action around the H1 EMA a bit intense for me but practice makes perfect. Took the hedge when divergence showed on the M5. Second hedge was expecting a pullback to the H1 EMA but got a big spiky candle instead. H1 failed to make a HH average so expecting it to have another go at the last average at 1.12004. {image}
Lets do a bit more down to the H1 average and call it 1% for the day.
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  • #8,428
  • Oct 14, 2022 2:12pm Oct 14, 2022 2:12pm
I modded a MTF moving average line for anyone that wants it. Saves doing multiples of 26 for each chart. Obviously the relevant candle needs to close before the line moves on.
Attached File(s)
File Type: ex4 NalaD1.ex4   12 KB | 198 downloads
File Type: mq4 NalaD1.mq4   5 KB | 194 downloads
File Type: ex4 NalaH1.ex4   12 KB | 170 downloads
File Type: mq4 NalaH1.mq4   5 KB | 301 downloads
File Type: ex4 NalaH4.ex4   12 KB | 179 downloads
File Type: mq4 NalaH4.mq4   5 KB | 189 downloads
File Type: ex4 NalaM5.ex4   12 KB | 186 downloads
File Type: mq4 NalaM5.mq4   5 KB | 188 downloads
File Type: ex4 NalaM15.ex4   12 KB | 185 downloads
File Type: mq4 NalaM15.mq4   5 KB | 227 downloads
  • #8,429
  • Oct 14, 2022 8:25pm Oct 14, 2022 8:25pm
Well go figure this for a challenging week.

Talking about the three ABCD's on the 1-hour chart here.

(A) Went southwards to the D1 where it hit a bull div sending it back to the D

(B) Used the 4-hour EMA and went southwards to D1 where it hit a bull div sending it back to D.

(C) Is stuck in the 50% ranges. Though I suspect it will target D1. It has been 50% long and 50% short.

For the EMA level to break X price should reach Y which is what it did.

Currently the bears are holding support which was a nice 100 pip short.

So much information to digest and analyze this one chart. Any amount of ZOO points for consideration and a ton of profit to be had.
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  • #8,430
  • Oct 17, 2022 8:12pm Oct 17, 2022 8:12pm
As per usual once the target is reached look for the bear Div which came providing a very nice ZOO point to short.

This is supposed to return price to the EMA but so far, the bulls are holding.

It looks to me like the EMA is trying for the EMA swing high at Y.

I am leaving the green ABCD on the chart to see f price runs down to D1
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  • #8,431
  • Oct 17, 2022 8:19pm Oct 17, 2022 8:19pm
When that 1-hour div provided a ZOO point we look to the 5 min and see a bear HD there to short.
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  • #8,432
  • Oct 19, 2022 10:22pm Oct 19, 2022 10:22pm
Master Alan,
Have you traded recently, can you share some charts?
  • #8,433
  • Oct 20, 2022 1:55am Oct 20, 2022 1:55am
Quoting LFrZero
Master Alan, Have you traded recently, can you share some charts?
I have been trading but using small lots on the fast charts due to the volatility. Many trades taken for about + or - 10 pips in the direction of the 5 min trend.

On my 1-hour chart I am watching to see if the EMA is going for the LL at A. This should send the price down to B but it just looks flat at this time.

We can see the 1 -hour has closed the gap but it is stuck at the 50% of D1.

I cannot figure the direction just now, so I am just sitting on hands.
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  • #8,434
  • Oct 20, 2022 1:58am Oct 20, 2022 1:58am
Looking at the 5 min chart we see all the EMA's are quashing together so we may be in for a big break away, but which way?
  • #8,435
  • Oct 20, 2022 2:04am Oct 20, 2022 2:04am
Just an observation on the 1-hour.

If price breaks above the EMA, then price has to close above 1.12821 to avoid another ABCD. That would be one heck of a big bar so I would suspect price will go for the current D1 before making a new ABCD. D1 is at 1.11406
  • #8,436
  • Oct 20, 2022 3:50am Oct 20, 2022 3:50am
Well, it looks like the D1 is the target as I said. The average swing low is very low so after D! I would expect to see a bull div sending it back across the EMA to form another ABCD which I would expect to be long.

Note I am looking at quite some time in the future to form these familiar setups we see so often. A lot can happen in the short time so I am still scalping albeit getting nice shorts.
  • #8,437
  • Oct 20, 2022 3:55am Oct 20, 2022 3:55am
The 5 min chart has done the deed for me, I was expecting it to hit X but maade enough long before.
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  • #8,438
  • Oct 20, 2022 3:59am Oct 20, 2022 3:59am
Anyone taking the 5 min hear HD previously (as I did) should note that although it made the EMA the bears did not find support so the stop needs to be tightened for a couple of pips profit.
  • #8,439
  • Oct 20, 2022 4:07am Oct 20, 2022 4:07am
If the 5 min takes out X I would then be looking at the daily S1 because there is room for it on the 1-hour D1
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  • #8,440
  • Oct 20, 2022 4:29am Oct 20, 2022 4:29am
This doesnt look like M1 trending to me. Slow and painful going down.
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