Trading the Cable swings via averages

Quoting 40PipsAlan

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I am long as well. M5 RSI Divergence didnt cross the EMA but did a retest. Went Long. Now at BE {image}

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Quoting Nala66

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On the 5 min neither the bulls nor bears can find support at this time. Better to wait it out and sit on hands.

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Quoting 40PipsAlan

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Lets try this again. M5 divergence Now at BE. I think its gonna be another rubbish NFP day again. Yep. BE hit. {image}

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Quoting Nala66

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{quote} What was your target price based on? If you don't know that then you cannot place stop to equal risk

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Quoting Dongpo741

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Is this a good place to try?{image}

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Quoting 40PipsAlan

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A M1 chart I can relate to. Bear support and Break of M5 EMA and retest. Gets me to BE. Seeing lots of Bear divergence of higher TF. {image}

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Quoting Nala66

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{quote} The 1 min chart is always going to give you the earliest entries with the least risk, don't underestimate its power in a rapid market. The 5 min would lead the way to looking for an entry on the 1 min. Below we see the 5 and 1 hour. We determine our target distance and let this number represent our risk appetite such as 1 or 2%. We then begin to close up our stop further reducing the risk. Once we get it to BE we can go to sleep and dream of millions in the bank. This trade was about 3 hours duration, and we would start to go insane watching...

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Quoting 40PipsAlan

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{quote} Good stuff Alan. The problem is given the bear divergences on the higher TF I had a downtrend at the forefront of my mind also with a 100 pip drop from the NFP news. At no point did I consider buy trades. I need to stop thinking what will happen and look at whats in front of my eyes. I will check the charts in a bit to see what the EMA are telling me. Empty my mind is my new mantra.

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