Disliked{quote} Here on the 5 min chart I have drawn todays ABCD for you. Look how A and C are in divergence. C is lower than A on the price chart but on the RSI C is higher than A. On the price chart A is on the southern side of the EMA and C is on the northern side of the same EMA so we can construct the triangle ABC, The target price is the distance from A to B starting from C. C is always the first close across the EMA. Now we need to look at the signals within and we see a nice HD to go long on. The entry is the HD, the target is D and the stop is...Ignored
Trading the Cable swings via averages
- #8,885
- Mar 7, 2023 7:03pm Mar 7, 2023 7:03pm
- Joined Mar 2016 | Status: Trader | 6,389 Posts
See how the EMA breaks previous levels and price makes it to the next level to drag it along.
Anything such as news is only going to speed up the process.
Anything such as news is only going to speed up the process.
- #8,886
- Mar 7, 2023 7:39pm Mar 7, 2023 7:39pm
- Joined Mar 2016 | Status: Trader | 6,389 Posts
If this move continues the next level down is at 1758.
Yesterday I said we needed the breakaway out of that 4-hour range. The 4 hours did so and ran to the next EMA swing low which is exactly what it should do if the EMA is to break the swing low.
Don't try to read more into the charts than there actually is. Stick to the facts not the theories which may or may not be correct.
Supposed the 4-hour chart was the 5 min chart then we would mark the target as below. 
So we would be short for days and days taking advantage of the pull backs.
Note how price stalled at the first EMA swing low, then made about a 50% retracement in an attempt to break the daily EMA but failed only to go on and hit the target.
The Grey grid is 100 pips wide on the chart so good moves for those wishing to be in the trade for days and days and days (Yawn)
Note how price traded below the daily EMA. Let's take a look at what is on that chart...
This chart puts the movements into perspective. We are just approaching the 50% of D1 and the EMA is about to make a lower swing low with what looks like no chance of price making the next level.
Yesterday I said we needed the breakaway out of that 4-hour range. The 4 hours did so and ran to the next EMA swing low which is exactly what it should do if the EMA is to break the swing low.
Don't try to read more into the charts than there actually is. Stick to the facts not the theories which may or may not be correct.
Supposed the 4-hour chart was the 5 min chart then we would mark the target as below.
Note how price stalled at the first EMA swing low, then made about a 50% retracement in an attempt to break the daily EMA but failed only to go on and hit the target.
The Grey grid is 100 pips wide on the chart so good moves for those wishing to be in the trade for days and days and days (Yawn)
Note how price traded below the daily EMA. Let's take a look at what is on that chart...
This chart puts the movements into perspective. We are just approaching the 50% of D1 and the EMA is about to make a lower swing low with what looks like no chance of price making the next level.
- #8,890
- Mar 10, 2023 5:42am Mar 10, 2023 5:42am
- Joined Mar 2016 | Status: Trader | 6,389 Posts
I am done for the day.
This daily chart should give you all the clues you need...
The bounce at the D1 50% was smack on the button.
This daily chart should give you all the clues you need...
The bounce at the D1 50% was smack on the button.
- #8,891
- Mar 10, 2023 7:48pm Mar 10, 2023 7:48pm
- Joined Mar 2016 | Status: Trader | 6,389 Posts
This time there was no div at the D target, so the price moved onto the EMA swings.
Zooming out we see the pattern continues to keep producing the same results. The gold triangles continue to produce gold for traders.
Who said we don't know where price is going.
This should answer the question of faith in the price movement. There is no I THINK in this at all. These are just the natural swings in sentiment.
Zooming out we see the pattern continues to keep producing the same results. The gold triangles continue to produce gold for traders.
Who said we don't know where price is going.
This should answer the question of faith in the price movement. There is no I THINK in this at all. These are just the natural swings in sentiment.
- #8,894
- Mar 13, 2023 5:35am Mar 13, 2023 5:35am
- Joined Mar 2016 | Status: Trader | 6,389 Posts
Looks like the EMA is going to make the LL so price should hit the 2nd arrow. I was all out at the first arrow.
EMA failed to make the HH so the test is on for the opposite side.
EMA failed to make the HH so the test is on for the opposite side.
- #8,896
- Mar 13, 2023 6:02am Mar 13, 2023 6:02am
- Joined Mar 2016 | Status: Trader | 6,389 Posts
The bulls stopped them from forming the ABCD and now it looks like the bulls are going to try and stop the 5 min EMA making the LL.
We have a battle going on here so I would sit on hands.
Try to stay out of these battle situations at best they are 50 50.
We have a battle going on here so I would sit on hands.
Try to stay out of these battle situations at best they are 50 50.
- #8,898
- Mar 13, 2023 8:06pm Mar 13, 2023 8:06pm
- Joined Mar 2016 | Status: Trader | 6,389 Posts
Today is a simple day for me. With trading on ema, a div and pullback on h1. {image}
Here is the full explanation of that trade and how to manage the risk/reward.
1) Look where the EMA is trying for. (Red horizontal line)
2) Look where the next EMA level is for the target price. (2nd Red line)
Mark these levels on your chart and also on the 5 min chart to see it trend there.
3) The bull div forms and we two bar test it to get our entry and our stop level.
4) Determine the risk, i.e. 1 or 2%. This would yield 2.5 to 5% profit. (minimum)
The reason to have the lines on the 5 min chart helps you to spot the pull backs for additional entries. You can see this in the charts below.
- #8,899
- Mar 13, 2023 11:46pm Mar 13, 2023 11:46pm
Master Alan, need your helps.
EMA has failed to made LL, so it will try to make HH, it will attack swing at 1 or 2 (next HH swing)?
Every small humps in red circles are valid ema swings?
Thank you.
EMA has failed to made LL, so it will try to make HH, it will attack swing at 1 or 2 (next HH swing)?
Every small humps in red circles are valid ema swings?
Thank you.