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Trading the Cable swings via averages

  • #9,081
  • Jun 1, 2023 5:10am Jun 1, 2023 5:10am
Quoting 40PipsAlan
{quote} Dang I went short.
If we look at the lower times frames for the entries rather than just guess we are better off.

If you went short then this 1M chart should tell you otherwise.
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  • #9,082
  • Jun 1, 2023 5:24am Jun 1, 2023 5:24am
Anyone still long should recall we have a higher target on the 4H
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  • #9,083
  • Jun 1, 2023 7:53am Jun 1, 2023 7:53am
So, looking a little longer term we have...
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Price may hold for a while to allow the EMA to catch up a tad.
  • #9,084
  • Jun 2, 2023 1:30am Jun 2, 2023 1:30am
So it made the above and then consolidated to let the EMA climb higher as I predicted.

Now there is no way for a new ABCD to form at this time on the hour chart so back to the waiting game.

To me the bigger problem is we are still sitting on the Monthly EMA (3months now) we need a big break.
  • #9,085
  • Jun 4, 2023 12:25am Jun 4, 2023 12:25am
For Monday we need to be careful. The daily failed the 50% of D and is now sitting exactly on C again.

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Is it going to bounce or cross? Well, this would be pure guesswork, so I am on the fence with this until I get a signal to the contrary.

The one-hour chart is also a bit ambiguous.
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I need to sit on my hands to warm them up anyway.

The story should unfold as we approach the London open.
  • #9,086
  • Jun 4, 2023 11:54pm Jun 4, 2023 11:54pm
Quoting godwi
{quote} Please CYLON, is the indicator on the indicator window of the chart you posted, is it CCI OR RSI, and please what are the settings, thanks
I see Nala66 has answered your question. I downloaded the template from this thread. It had been uploaded a while back.
  • #9,087
  • Edited 1:08am Jun 5, 2023 12:31am | Edited 1:08am
Hi Alan, Is this ABCD drawn correctly? it on 4H timeframe. Thank you.{edited timeframe to 4H}
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  • #9,088
  • Jun 5, 2023 1:03am Jun 5, 2023 1:03am
Hi Alan, i am back from working away and want to get back into trading with your system. I too struggle with the ABCD getting them correct. Would appreciate any help just to simply show us how to draw them out correctly. I tried last time but think i drew them wrong.
  • #9,089
  • Jun 5, 2023 2:04am Jun 5, 2023 2:04am
The Indi does an excellent job of painting the ABCD for you but it seems to me:
The C point is the candle close over the EMA.
The A point has a lower close than C (in the case of sell ABCD) which also creates RSI divergence with the C point.
And the B point is the highest close between A and C (for a Sell ABCD).
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  • #9,090
  • Jun 5, 2023 4:24am Jun 5, 2023 4:24am
Just looking over some previous H4 ABCD results with Nalas idea of a reverse pending trade at the 50% level and TP at the D to catch the bad ones. Doesnt look too sad so far.
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  • #9,091
  • Jun 5, 2023 11:00am Jun 5, 2023 11:00am
Which Indi are you referring to. I'm still back in end of 2019 with my reading. Thanks.
  • #9,092
  • Jun 5, 2023 12:06pm Jun 5, 2023 12:06pm
Quoting newfie4x
Which Indi are you referring to. I'm still back in end of 2019 with my reading. Thanks.

ABCD Indicator works well.
Attached File(s)
File Type: ex4 Alans_Target Targets V2.1.ex4   80 KB | 218 downloads
  • #9,093
  • Jun 5, 2023 5:19pm Jun 5, 2023 5:19pm
Thank you.
  • #9,094
  • Jun 6, 2023 3:16pm Jun 6, 2023 3:16pm
Quoting Nala66
For Monday we need to be careful. The daily failed the 50% of D and is now sitting exactly on C again. {image} Is it going to bounce or cross? Well, this would be pure guesswork, so I am on the fence with this until I get a signal to the contrary. The one-hour chart is also a bit ambiguous. {image} I need to sit on my hands to warm them up anyway. The story should unfold as we approach the London open.
That price is definitely glued to that Daily C Point.
  • #9,095
  • Jun 8, 2023 1:44am Jun 8, 2023 1:44am
Quoting 40PipsAlan
{quote} That price is definitely glued to that Daily C Point.
Yep, just drifting along the RSI 50% level.
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We need that break to make better trades.
  • #9,096
  • Jun 8, 2023 1:50am Jun 8, 2023 1:50am
This last ABCD on the hour was hard to trade. It changed its mind twice.
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  • #9,097
  • Jun 8, 2023 2:20am Jun 8, 2023 2:20am
I can't see any setups forming at this time so I will just walk away and trade another day.
  • #9,098
  • Jun 9, 2023 2:26am Jun 9, 2023 2:26am
Seems the price respected the ABCD I posted on post 9087 on the 4H timeframe. Earlier price had hit the 50% before retracing to C then started going up and just got to almost hitting the D.{edit: I hope the plotting is correct as per Alan's teaching}
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  • #9,099
  • Edited 3:08am Jun 9, 2023 2:52am | Edited 3:08am
Quoting cylon
Seems the price respected the ABCD I posted on post 9087 on the 4H timeframe. Earlier price had hit the 50% before retracing to C then started going up and just got to almost hitting the D.{edit: I hope the plotting is correct as per Alan's teaching} {image}
heres mine. H4 buy ABCD is hit and there is another buy ABCD on the daily almost near target.
Seems to be ranging between the 50% on another daily ABCD.
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  • #9,100
  • Jun 12, 2023 2:43am Jun 12, 2023 2:43am
On the hour waiting for the possible Red ABCD setup though the Blue one would be much better...
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Depends how long it can stay above the EMA.
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