Trading the Cable swings via averages

Quoting 40PipsAlan

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{quote} 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. {image}

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Quoting 40PipsAlan

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H4 ABCD at the 50% Level. H1 showing RSI divergence at a previous EMA average . Time to close Buy trades I think. Pullback coming.

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Quoting 40PipsAlan

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All that waiting through the ranging period paid off today for around +70 pips. Nice {image}

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Quoting prohaha

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{quote} If you don't mind, can you make details on your chart for others inference?

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Quoting prohaha

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{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}

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Quoting prohaha

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{quote} Hi Master Alan, Pls don't ignore my question. Thanks for your patiance.

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Quoting 40PipsAlan

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H1 close over the EMA=wait. Bear support candle is next candle (doesnt close back over the EMA) Look for entry on the M5 ( I waited for the previous range to break first) Nice +65 pips. Closed when M5 showed some divergence {image}

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Quoting Nala66

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{quote} Gee whiz I can barely remember what I did yesterday let alone 4 months ago. What PROBABLY happened was that I moved my stop too early causing the stop out. Then I would have got back in at the top of that spike because it was the average swing high level and may have been in div on the 1 min chart. I suspect many traders would have been short especially when the bears found support, that spike would have surprised all, the market does not like surprises and reacted accordingly. If we don't mark the average swing highs and lows on our charts...

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Quoting Nala66

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{quote} Best to always include the previous swing highs and lows on the chart to plot the potential targets....thus {image}

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Quoting prohaha

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{quote} Here below is the 1 hour chart which I can not find out any interesting ZOO points. On 5 hours from bar 108, price is flattened around EMA26 so in this case, do you keep awaiting to the signals once you plot some potential Zoo points? or you drop to lower timeframe to get the signals? {image}

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Quoting prohaha

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{quote} Here below is the 1 hour chart which I can not find out any interesting ZOO points. On 5 hours from bar 108, price is flattened around EMA26 so in this case, do you keep awaiting to the signals once you plot some potential Zoo points? or you drop to lower timeframe to get the signals? {image}

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