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Trading the Cable swings via averages

  • #8,501
  • Nov 1, 2022 8:13pm Nov 1, 2022 8:13pm
Quoting Fantaburk
{quote} I am sure Alan would say the hints of good dollar news was right there in the charts prior. H1 bouncing of bear support, which coincided with 50% of the latest ABCD-target. In a bearish RSI/RSI-div with a 2bar test. Kinda bearish signs. It has just hit the D-level on the opposite side. All easy to spot in hindsight though I admit.
Hit the nail right on the head here. I was about to write this up this morning when I read this of yours.

Here is the picture though...

Attached Image (click to enlarge)
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Just look at how perfect this is. We have the 5 counts, the 50%D, the bear RSI div, the failure of the average swing high, all leading to the D1 target. It hits the target exactly and, in a bull div which should send it back to the EMA which it did.
  • #8,502
  • Nov 1, 2022 8:16pm Nov 1, 2022 8:16pm
Quoting fribes
Hi Guys, I just wondered if someone could let me know if i am drawing these ABCD patterns correctly. It's on the 1hr timeframe these two? All the best, Bill {image}
These look fine to me.

One thing to add though and that is to put both sides on north and south. This will show you when price is ranging between the two 50% levels and often the price will hit one side D and turn around to hit the other side D1
  • #8,503
  • Nov 1, 2022 8:19pm Nov 1, 2022 8:19pm
Our primary function is to find the weakness and exploit it.
  • #8,504
  • Nov 1, 2022 9:02pm Nov 1, 2022 9:02pm
Quoting 40PipsAlan
{quote} sort of matches the ABCD indi. Do we need to draw these by hand? {image} {file}
Hey Alan, do you know what settings you use to just get the one triangle showing the D, D1 levels. I seem to get quite a few differeng triangles like below?
Attached Image (click to enlarge)
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  • #8,505
  • Nov 1, 2022 9:36pm Nov 1, 2022 9:36pm
Quoting fribes
{quote} Hey Alan, do you know what settings you use to just get the one triangle showing the D, D1 levels. I seem to get quite a few differeng triangles like below? {image}
Hello

You should set this to FALSE

Attached Image (click to enlarge)
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Cheers,
  • #8,506
  • Nov 1, 2022 9:54pm Nov 1, 2022 9:54pm
Dear master Alan,
Lately, your RSI upper/lower threshold is 70-30, not 80-20.
Does it affect the analysis?
  • #8,507
  • Nov 1, 2022 11:14pm Nov 1, 2022 11:14pm
Hi Guys,

I know that's its way too early but i was wondering whether you think this is a valid potential trade and if the analysis is right?

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  • #8,508
  • Nov 1, 2022 11:31pm Nov 1, 2022 11:31pm
Quoting fribes
Hi Guys, I know that's its way too early but i was wondering whether you think this is a valid potential trade and if the analysis is right? {image}
Please notice that price is stuck between EMA H4 and H1.
This is where bull and bear find their support.
Price can move to either directions.
We should wait to see who found support, i.e who is the winner.
Then we trade with them.
  • #8,509
  • Nov 2, 2022 1:13am Nov 2, 2022 1:13am
On hour, price is at EMA swing high and rsi/DIV-->ZOO
EMA successful take LL.
ab=cd.
Attached Image (click to enlarge)
Click to Enlarge Name: 21360586_ ICMarketsSC-Demo02 - Tai khoan demo - Raw Trading Ltd - [GBPUSD,H1] 02_11_2022 1_06_57 CH. Size: 51 KB
  • #8,510
  • Nov 2, 2022 3:26am Nov 2, 2022 3:26am
A RSI Bull Div sent price back to EMA M5, made some 2BT and bull found support there.

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 29 KB

I expect it to move and reach the target in an AB = CD on H1.
There is another 2BT on H1 too.

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 28 KB
  • #8,511
  • Nov 2, 2022 3:28am Nov 2, 2022 3:28am
Quoting LFrZero
Dear master Alan, Lately, your RSI upper/lower threshold is 70-30, not 80-20. Does it affect the analysis?
Not at all I don't even know why I have them on the chart at all.
  • #8,512
  • Nov 2, 2022 3:30am Nov 2, 2022 3:30am
Quoting fribes
{quote} Hey Alan, do you know what settings you use to just get the one triangle showing the D, D1 levels. I seem to get quite a few differeng triangles like below? {image}
Is this the tool you are speaking of because I didn't write the code for it. I draw mine by hand.
  • #8,513
  • Nov 2, 2022 3:36am Nov 2, 2022 3:36am
I see you guys are counting waves. I don't do this I am counting pivot swings because I think I have found a relationship between the 4 and 5 to the price distance but there are a few variations, so I am still studying it.
  • #8,514
  • Nov 2, 2022 3:39am Nov 2, 2022 3:39am
Earlier today I took a trade and walked away, later I discovered I had placed the trade in the wrong direction.

I have since go on top again and made a nice profit. I went long on a bear div, I need more sleep I think.
  • #8,515
  • Nov 2, 2022 3:42am Nov 2, 2022 3:42am
Quoting DLTravel
A RSI Bull Div sent price back to EMA M5, made some 2BT and bull found support there. {image} I expect it to move and reach the target in an AB = CD on H1. There is another 2BT on H1 too. {image}
When you post charts can you include the time frames because it takes a lot of time to track them down, Thanks.
  • #8,516
  • Nov 2, 2022 3:44am Nov 2, 2022 3:44am
Quoting Nala66
I see you guys are counting waves. I don't do this I am counting pivot swings because I think I have found a relationship between the 4 and 5 to the price distance but there are a few variations, so I am still studying it.
I am sorry I may put some numbers in wrong place.
Despite that I am using EWP, because I don't know your method yet, but I did use pivot (EMA 1) instead of price.
I think the pivot acting better than candle wicks, too.

Cheers,
DL
  • #8,517
  • Nov 2, 2022 3:44am Nov 2, 2022 3:44am
Quoting Nala66
{quote} When you post charts can you include the time frames because it takes a lot of time to track them down, Thanks.
Noted with thanks Alan.

I am sorry about that.
  • #8,518
  • Nov 2, 2022 3:57am Nov 2, 2022 3:57am
Quoting DLTravel
{quote} I am sorry I may put some numbers in wrong place. Despite that I am using EWP, because I don't know your method yet, but I did use pivot (EMA 1) instead of price. I think the pivot acting better than candle wicks, too. Cheers, DL
Well, there are over 200 rules to EWP so good luck with that lot.
  • #8,519
  • Nov 2, 2022 4:01am Nov 2, 2022 4:01am
Don't know why the spread is so high today!
  • #8,520
  • Nov 2, 2022 4:08am Nov 2, 2022 4:08am
Quoting Nala66
{quote} Well, there are over 200 rules to EWP so good luck with that lot.
Yes, you are right.
Counting every EWP wave is a daunting task and not neccessary in deed.
I often pass through consolidation area, wehre price is choppy.
Simply, I only count some clear waves to filter false Div signals.
When we have wave 5 together with a Div, that's a reliable signal.

Cheers,
DL
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