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Trading the Cable swings via averages

  • #9,101
  • Jun 12, 2023 6:40am Jun 12, 2023 6:40am
Quoting Nala66
On 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.
Here we go, 20 mins to wait.
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  • #9,102
  • Jun 12, 2023 9:14am Jun 12, 2023 9:14am
Quoting 40PipsAlan
{quote} Here we go, 20 mins to wait. {image}
Price touching the H4 EMA. Closed both trades for around +95. nice
My first trade was taken on Friday based on H4 and D1 divergence and i was expecting a drop and it didnt happen till today.
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  • #9,103
  • Jun 13, 2023 12:50am Jun 13, 2023 12:50am
That was a quickie yesterday only took a couple of hours giving us a nice downward trend on the 5 min chart.
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Looks like today is a rest day with no sign yet of an ABCD formation.
  • #9,104
  • Jun 13, 2023 12:57am Jun 13, 2023 12:57am
Hard to say if we have a new ABCD on the 4 hour because B is sitting on the EMA
  • #9,105
  • Jun 13, 2023 1:39am Jun 13, 2023 1:39am
No ABCD but perhaps a near perfect, Giant AB=CD indicative of direction towards wide open space for a few hundred pips. Or perhaps not, guess we'll find out in due time.
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  • #9,106
  • Jun 13, 2023 2:28am Jun 13, 2023 2:28am
Quoting Fantaburk
No ABCD but perhaps a near perfect, Giant AB=CD indicative of direction towards wide open space for a few hundred pips. Or perhaps not, guess we'll find out in due time. {image}
Yes I missed that one...Well done

I am assuming the 4 hour is trying for the swing high average at 2610
  • #9,107
  • Jun 13, 2023 6:31pm Jun 13, 2023 6:31pm
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.
  • #9,108
  • Jun 14, 2023 2:09am Jun 14, 2023 2:09am
Quoting harry888
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.
I don't use the RSI to find trends this is the role of the higher time frames.

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.
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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.
  • #9,109
  • Jun 14, 2023 3:39am Jun 14, 2023 3:39am
I have 20 pips long profits locked in now. Not sure it will make my 40 because the EMA swing high is very close now and the 1 hour is in div
  • #9,110
  • Jun 14, 2023 3:58am Jun 14, 2023 3:58am
That will do ...32 pips
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  • #9,111
  • Jun 14, 2023 7:29am Jun 14, 2023 7:29am
I just came back for a bo peep and see I would have made the 40 pips.

I have the 1-hour next level at a whopping 1.3080, does anyone have a smaller one than that?

We would have to do a roller coaster ride to climb that high over a long period. Just something to keep in mind for the future.
  • #9,112
  • Jun 14, 2023 7:47am Jun 14, 2023 7:47am
Quoting Nala66
I just came back for a bo peep and see I would have made the 40 pips. I have the 1-hour next level at a whopping 1.3080, does anyone have a smaller one than that? We would have to do a roller coaster ride to climb that high over a long period. Just something to keep in mind for the future.
Is definitely gonna hit that daily ABCD now.
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  • #9,113
  • Jun 14, 2023 8:06am Jun 14, 2023 8:06am
Yep hit that daily easily.

Now look at the wide open space...
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  • #9,114
  • Jun 14, 2023 8:17am Jun 14, 2023 8:17am
The 4 hour AB =CD looks promising too.
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  • #9,115
  • Jun 14, 2023 9:05pm Jun 14, 2023 9:05pm
We have a new ABCD on the hour.
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  • #9,116
  • Jun 14, 2023 9:16pm Jun 14, 2023 9:16pm
The 4 hour AB=CD was hit and price bounced exactly off the D on the daily.

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This may mean the 1 hour ABCD is a short
  • #9,117
  • Jun 15, 2023 5:42am Jun 15, 2023 5:42am
Quoting Nala66
The 4 hour AB=CD was hit and price bounced exactly off the D on the daily. {image} This may mean the 1 hour ABCD is a short
This is looking like more uptrend every minute.
  • #9,118
  • Jun 15, 2023 7:41am Jun 15, 2023 7:41am
Quoting 40PipsAlan
{quote} This is looking like more uptrend every minute.
Definitely sideways at least.

I have won a few and lost a few but I am 12 bucks down so far and ready to quit for the day.
  • #9,119
  • Jun 15, 2023 8:10am Jun 15, 2023 8:10am
One of those days when it just will not trend...I give up for today.
  • #9,120
  • Jun 15, 2023 8:17am Jun 15, 2023 8:17am
Quoting Nala66
One of those days when it just will not trend...I give up for today.
why not?
You have an IQ lower than 90 if you interact with this user.
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