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Trading the Cable swings via averages

  • #9,121
  • Jun 16, 2023 2:23am Jun 16, 2023 2:23am
Wouldn't you know it. It must have waited for me to shut down yesterday and then kicked off.
  • #9,122
  • Jun 16, 2023 2:36am Jun 16, 2023 2:36am
I have run out of swing high targets until we get to 1.308 on the hour chart'
  • #9,123
  • Jun 20, 2023 2:49am Jun 20, 2023 2:49am
Exact hit of the D1 on the hour. Small target for such a length of time.
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  • #9,124
  • Jun 21, 2023 3:53am Jun 21, 2023 3:53am
Quoting davidmaree
For those interested I've attached my crib notes for Alan's method, which essentially is a dump of many of Alan's and some other's posts to date. TOC is as follows: {image} This pdf file is 20MB so had to be split to upload here. 7-zip or Winzip should recombine them when files are placed in the same directory, and then extracting the 001 file. Because of another FF upload quirk, before doing this you have to delete the .zip at the end so file names before extraction should be: Alan method posts.zip.001 Alan method posts.zip.002 {file} {file} For...

all links are expired. Anyone has pdf files pls help email me: [email protected]. Thanks
  • #9,125
  • Jun 21, 2023 1:22pm Jun 21, 2023 1:22pm
Quoting titan6868
{quote} all links are expired. Anyone has pdf files pls help email me: [email protected] ("[email protected]"). Thanks
You dont need those pdf to learn Nalas system. Reading thru the thread is all you need. I am still grappling with it myself but hopefully things are improving.
  • #9,126
  • Jun 23, 2023 2:31pm Jun 23, 2023 2:31pm
Just plotting and reviewing the years ABCD H1 Chart to date. Not all buys and shorts reach the intended target, some are continuation trades and some are reversal. So now studying the M5 charts at the H1 ABCD to see whats going on.
  • #9,127
  • Jun 24, 2023 3:52am Jun 24, 2023 3:52am
Quoting 40PipsAlan
Just plotting and reviewing the years ABCD H1 Chart to date. Not all buys and shorts reach the intended target, some are continuation trades and some are reversal. So now studying the M5 charts at the H1 ABCD to see whats going on.
I am much more comfortable using the average swings as opposed to using ABCD's. These are just additional indicators to me.
  • #9,128
  • Jul 7, 2023 10:25pm Jul 7, 2023 10:25pm
Well, that was a fairly sad twenty days for the ABCD's with only 6 signals given.
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Currently on the hour it looks like the average is trying for a HH but the next level is way up at 1.308 about 250 pips away.

So, will the bears stop the bulls making the HH or will we see a bear div indicating the bears are going to stop them?

Remember the bulls only have to sit pat consolidating to allow the EMA to catch up.
  • #9,129
  • Jul 10, 2023 1:12am Jul 10, 2023 1:12am
Well so far the bears have stopped the average making a HH but can they roll it over?
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  • #9,130
  • Jul 11, 2023 4:04am Jul 11, 2023 4:04am
[quote=Nala66;11710135]Intro.
Hi I am trying to edit my charts as you described it, but can't put the RSI indicators in one (example the 14 period and 5 period) it indicates seperately

What trading platform does it work on, MT4?
  • #9,131
  • Jul 11, 2023 5:54am Jul 11, 2023 5:54am
[quote=Dienie;14493299]
Quoting Nala66
Intro. Hi I am trying to edit my charts as you described it, but can't put the RSI indicators in one (example the 14 period and 5 period) it indicates seperately What trading platform does it work on, MT4?
Yes MT4
  • #9,132
  • Jul 11, 2023 5:55am Jul 11, 2023 5:55am
Finally the 4 hour has hit D.
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  • #9,133
  • Jul 11, 2023 6:15am Jul 11, 2023 6:15am
[quote=Dienie;14493299]
Quoting Nala66
Intro. Hi I am trying to edit my charts as you described it, but can't put the RSI indicators in one (example the 14 period and 5 period) it indicates seperately
This is my 5 minute template.

If you have all the parts it should work for you.
Attached File(s)
File Type: tpl 5MEMA.tpl   28 KB | 323 downloads
  • #9,134
  • Jul 21, 2023 2:42pm Jul 21, 2023 2:42pm
Squeezed +70 on that last ABCD. Didnt quite hit my target as yet and took me out on the trail stop.
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  • #9,135
  • Jul 22, 2023 6:33am Jul 22, 2023 6:33am
The last couple of ABCD's met the D1 almost at the same time.

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It looks like you missed the last one .
  • #9,136
  • Jul 24, 2023 8:39pm Jul 24, 2023 8:39pm
Quoting Nala66
{quote} 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. {image} 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...
Did you adjust a little bit of your stop loss from 10 pips to 20 pips?
  • #9,137
  • Jul 25, 2023 10:46am Jul 25, 2023 10:46am
Quoting prohaha
{quote} Did you adjust a little bit of your stop loss from 10 pips to 20 pips?
No, the aim is to make minimum 2% profit with a maximum 1% risk.

So, if the target is 50 pips and 2% the risk is 25pips and 1%.

If the target is 20 pips and 2% the risk is 10 pips and 1%.

These two targets yield the same result but with the larger pip distance I can reduce the risk by placing a series of multiple lots. By doing this I can decrease the risk of 1% and increase the reward beyond 2%. It is simply a matter of putting the math on our side.
  • #9,138
  • Jul 25, 2023 10:59am Jul 25, 2023 10:59am
I should have thought this was a simple thing to understand by now.

Consider the chart below...
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Look how many opportunities there are to add to the long position whilst incrementally moving the stop accordingly.

The 1% risk was never even remotely threatened.

By the way this is the AJ pair which I have been looking at lately and find it behaves in just the same way. Always testing the swing high and low averages.
  • #9,139
  • Jul 25, 2023 12:03pm Jul 25, 2023 12:03pm
Quoting Nala66
{quote} That stopped me out too, but I got back in again. $112.05 profit for that trade, so I only need about $3 today to keep up the daily average.
At post #8783, you were stopped out by that long tail. However you still got back in trade and made a good profit. So, Could you pls clarify the way you deal with that situation? I don't know how to get back after that Stoploss hunt.
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  • #9,140
  • Jul 25, 2023 12:45pm Jul 25, 2023 12:45pm
Quoting prohaha
{quote} At post #8783, you were stopped out by that long tail. However you still got back in trade and made a good profit. So, Could you pls clarify the way you deal with that situation? I don't know how to get back after that Stoploss hunt. {image}
Figured I would take a closer look at this too on the M5 chart. We got the initial entry point from the H1 divergence and the M5 runs into divergence for the big spike up to retest last average high. Guessing this was NY open time which then retraced back to resume the downward trend. A couple hours later we get another EMA average test which also failed to take it higher so we get another couple of chances to get back in again. Is all very good if you have the time to sit and watch the chart for 8 hours.
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