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Trading the Cable swings via averages

  • #8,961
  • Mar 29, 2023 2:52am Mar 29, 2023 2:52am
Nice one, I was watching TV and still got paid.
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  • #8,962
  • Mar 29, 2023 6:51am Mar 29, 2023 6:51am
Hi Alan, I have problem figure out which target the price is gonna make, for example in this 5 mins chart, I see that the price have been failed making a HH, and it going to retest the opposite site, but I have problem at figure out which in the following 2 points should be the next place, could you please help indicate further?
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  • #8,963
  • Mar 29, 2023 5:16pm Mar 29, 2023 5:16pm
Quoting Fiona96
Hi Alan, I have problem figure out which target the price is gonna make, for example in this 5 mins chart, I see that the price have been failed making a HH, and it going to retest the opposite site, but I have problem at figure out which in the following 2 points should be the next place, could you please help indicate further? {image}
Well Fiona there is such a lot going on here the explanation may be very confusing.

Instead of heaps of words I hope the chart below explains stuff a bit better for you.

Remember when looking for entries you should also be looking for the target to see if it is worth the risk. In this case the A and B (Blue) are the best options being larger targets the entry size is less and thus the risk is less also.

I think it is a very high risk to go for small pip targets, so I don't bother with them and just keep plotting.
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If you need more explanation let me know.
  • #8,964
  • Mar 29, 2023 5:39pm Mar 29, 2023 5:39pm
Just look at how long this one hour sat on the D1 50%
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  • #8,965
  • Mar 30, 2023 1:11am Mar 30, 2023 1:11am
I closed this 2 pips short fearing it was not going to make the D.

The D1 failed by just 1 pip which generally means it will test the opposite side.
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  • #8,966
  • Mar 30, 2023 1:16am Mar 30, 2023 1:16am
I think it is just time wasting here to let the EMA make the HH
  • #8,967
  • Mar 30, 2023 1:25am Mar 30, 2023 1:25am
That was a good solid run by the bulls not once breaking the EMA to scare us on the 5 min.
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A lot of it outside of my trading time.
  • #8,968
  • Mar 30, 2023 1:36am Mar 30, 2023 1:36am
What a bugger, it made it and I missed out on two pips.
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  • #8,969
  • Mar 30, 2023 1:41am Mar 30, 2023 1:41am
Now this is interesting. There are no pull back pivots on the hour chart so it is not currently possible for a new ABCD to form.

We still have that 4 hour target though.
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  • #8,970
  • Mar 30, 2023 1:44am Mar 30, 2023 1:44am
It is only about ten pips away and may make it this 4 hour bar with 16 mintes to go.
  • #8,971
  • Mar 30, 2023 1:44am Mar 30, 2023 1:44am
I managed 20 pips on that one.
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  • #8,972
  • Mar 30, 2023 1:48am Mar 30, 2023 1:48am
Then we have the daily to consider since it has passed the D 50% it may well run onto the D
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  • #8,973
  • Mar 30, 2023 1:49am Mar 30, 2023 1:49am
Quoting 40PipsAlan
I managed 20 pips on that one. {image}
Well done, easy peasy once you have faith hey!
  • #8,974
  • Mar 30, 2023 1:51am Mar 30, 2023 1:51am
Quoting Nala66
{quote} Well done, easy peasy once you have faith hey!
Shame its gonna hit the H4 D1. Never mind
  • #8,975
  • Mar 30, 2023 6:57am Mar 30, 2023 6:57am
Quoting Nala66
{quote} Well Fiona there is such a lot going on here the explanation may be very confusing. Instead of heaps of words I hope the chart below explains stuff a bit better for you. Remember when looking for entries you should also be looking for the target to see if it is worth the risk. In this case the A and B (Blue) are the best options being larger targets the entry size is less and thus the risk is less also. I think it is a very high risk to go for small pip targets, so I don't bother with them and just keep plotting. {image} If you need more...
Thank you Alan,
I got this full triangle today, as for your explanation.
But I still get confuse with the 3 entries, I only success manage to enter once and wait till the end, haha.
How can I find the way to get with the second and third entry?
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  • #8,976
  • Mar 30, 2023 7:09am Mar 30, 2023 7:09am
Quoting Nala66
I closed this 2 pips short fearing it was not going to make the D. The D1 failed by just 1 pip which generally means it will test the opposite side. {image}
What is your pink line that you point failed by one pip, Alan?
  • #8,977
  • Mar 30, 2023 7:28am Mar 30, 2023 7:28am
Quoting Fiona96
{quote} What is your pink line that you point failed by one pip, Alan?
The Magenta line is the 4 hour EMA.

The failure I referred to was the ABCD1 target that failed by 0ne pip.
  • #8,978
  • Mar 30, 2023 7:31am Mar 30, 2023 7:31am
Quoting Fiona96
{quote} Thank you Alan, I got this full triangle today, as for your explanation. But I still get confuse with the 3 entries, I only success manage to enter once and wait till the end, haha. How can I find the way to get with the second and third entry? {image}
You need to find one on the hour chart with a larger target so that you will see a trend on the 5 min with pull backs for additional entries.
  • #8,979
  • Mar 30, 2023 7:35am Mar 30, 2023 7:35am
Quoting Fiona96
{quote} Thank you Alan, I got this full triangle today, as for your explanation. But I still get confuse with the 3 entries, I only success manage to enter once and wait till the end, haha. How can I find the way to get with the second and third entry? {image}
There was no triangle there, you just got lucky
  • #8,980
  • Mar 30, 2023 7:40am Mar 30, 2023 7:40am
Here are the last three triangles on the hour chart...All completed.
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