Trading the Cable swings via averages

How about that for stopping the average right on the button. Price may well run to D now at 1.14485.

See how it manipulated the price so it couldn't make another ABCD.

As I said before it has to close above 1.12821

Got a couple % today when the pound shot up today. recovering losses from the last couple days getting caught out on the ranging. More practice needed

What can I say about this... Once again exactly both ways.

Now is it going for the big red one today?

Waiting on a pullback to get my second trade on. This thing aint slowing down.

Bing- bloody-o it finally made it.

Nice one Alan. Spot on Analysis and nearly 2% for the day. Just looking for the post explaining the ABCD calculation. Fibs on swing HiLo and fib extension 1.27 says Google but not looking the same as the ABCD indicator for some reason. Have a good weekend

For the newbies this is the big picture of the weeks action.

We had two ABCD's giving a great battle. Once again, we see the smaller one hit the D and turn to hit the D1.

Pips all over the place both up and down.

Now we are looking at the hour to see if it can close out of the div it is currently in.

The calc is always A minus B

The result is both added to and taken from C to give us the destinations D and D1.

It has nothing to do with the Fib.

With two minutes to go it is almost out of the bull div.

Ended in a bull div confirmed on the 5 min chart.

No chance of a new ABCD on the 5 because both will be on the same side if price crosses the EMA.

Still got a chance for one on the hour should the bulls manage to break the EMA.

Any questions before I clean up my charts for the weekend?

Yes boss. how to find ABC points?

5 min never made the EMA so stops should advance to protect account.

Gee mate I have been over this time and time again.

The 26 EMA is the same as the 50% water line of the RSI. They are one and the same line.

So, if you can see the div on the RSI straggling the 50% it is the same as straggling the EMA. In other words, you don't even need the RSI to spot it.

A is on one side of the EMA and C is on the opposite side. B is the highest or lowest point between A and C.

D is the destination being equal to A - B from C.

In effect what is happening is there is a contest between A and B where both the bulls and the bears are winning their respective long and shorts.

The sentiment stored between A and B swings 100% from C.

Money is not added into the pool it just swings from one hand to the other.

Looks like the 4 hour is trying for the EMA swing low at 1.10876 but that is not enough to pull down the EMA to its next level.

Maybe the bulls are still in control as the EMA keeps making HH's and the bears are failing to make LL's

Of course, if it just hangs around this area the EMA will make it.
Whoops forgot the picture...

The daily chart is still in a range...

Don't forget in a downtrend look for the bear divs to take price to LL's
Even on the 5 min chart we can score 20 pips or more.

On the 4-hour price easily made the EMA swing low but not nearly enough to pull down the EMA very much at all as I expected.

Since it has failed, we would expect it to test the swing high average which it has done before. No ABCD to give us a clue

The next swing high is way up at 1.16125, definitely not too far for this pair. Interestingly there is a huge AB = CD which takes price up way beyond this level.

Alas we may be talking about weeks or even months ahead. Time will tell.