DislikedOn the hour waiting for the possible Red ABCD setup though the Blue one would be much better... {image} Depends how long it can stay above the EMA.Ignored
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Trading the Cable swings via averages
- #9,103
- Jun 13, 2023 12:50am Jun 13, 2023 12:50am
- Joined Mar 2016 | Status: Trader | 6,379 Posts
That was a quickie yesterday only took a couple of hours giving us a nice downward trend on the 5 min chart.
Looks like today is a rest day with no sign yet of an ABCD formation.
Looks like today is a rest day with no sign yet of an ABCD formation.
- #9,108
- Jun 14, 2023 2:09am Jun 14, 2023 2:09am
- Joined Mar 2016 | Status: Trader | 6,379 Posts
Hi Master, Thank you for share your system, but I am still very bad in catching the reversal of the prices by use divergen of RSI from the Zoo point, And I realized that when we follow the trend, price above EMA we buy, and if price below EMA we sell , that we will have a higher win rate. So could you advise how many setup that we can use the RSI to catch the continue trend. Thank you again Master.
So, I look at the hour chart mostly to try and determine what price is attempting to do.
Then by looking at the 5 min chart I can trade the trend according to what the 1 hour is saying.
Consider the chart below...
There are four trades on it. 3 Green and 1 Red.
The 1st green was a direct result of an ABCD. It has a stop of 20 pips and a profit target of 40 pips. This equates to a 1% risk and a 2% reward.
The 2nd green was a result of the bull div. It has a stop of 20 pips and a profit target of 40 pips. This equates to a 1% risk and a 2% reward. However I would not take this trade because I was asleep.
The 3rd green comes from the larger red one telling me to be long. It has a stop of 20 pips and a profit target of 40 pips. This equates to a 1% risk and a 2% reward.
The 4th red is off the dive expecting to test the opposite side. It has a stop of 20 pips and a profit target of 40 pips. This equates to a 1% risk and a 2% reward.
Note all four of the trades are exactly the same size it is up to you how you plan your attack.
The trends for each trade would be seen better on the 5 min chart where additional entries may be made. The entries also will be seen better on the 5 min chart.
- #9,116
- Jun 14, 2023 9:16pm Jun 14, 2023 9:16pm
- Joined Mar 2016 | Status: Trader | 6,379 Posts
The 4 hour AB=CD was hit and price bounced exactly off the D on the daily.
This may mean the 1 hour ABCD is a short
This may mean the 1 hour ABCD is a short
- #9,120
- Jun 15, 2023 8:17am Jun 15, 2023 8:17am
- Joined Dec 2022 | Status: Trader | 2,427 Posts
You have an IQ lower than 90 if you interact with this user.