Hi, hoping someone can help, working my way through the thread currently, but can't find or I'm missing something on how AB=CD is obtained. If I've understood correctly, A and B are histroical swing low's / high's closed price that have not yet been met and C is obtained by taking the midpoint of AB and D I'm not sure. If you can point me to the post that gives the details or a detailed reply that would be great. Also anyone else see divergences in their dreams when you were working your way through this!!
Trading the Cable swings via averages
- #9,248
- Nov 13, 2023 3:34am Nov 13, 2023 3:34am
- Joined Mar 2016 | Status: Trader | 6,383 Posts
Hi, no expectations and I think you’ve taken my reply in the wrong tone. Feedback is a gift and as a result of yours I’m rereading and looking at pics posted to see where I’ve misunderstood. Thanks for your time and may you continue to bag your daily 50.
If you get your trade on at C the stop should be at the 75% level. This is a 1:4 risk/reward with a single entry. Multiple entries result in higher rewards.
This is why we look for the signals at the 1-hour time frame, so we have a good distance to travel and the opportunity to add to our winning position.
Treat the C level as a possible ZOO point to enter on the lower time frames.
Note an AB = CD is not the same as an ABCD triangle.
- #9,251
- Nov 13, 2023 4:19am Nov 13, 2023 4:19am
- Joined Mar 2016 | Status: Trader | 6,383 Posts
Here on the 30min chart is an actual example.
Note how the 75% level (our stop) was tested a couple of times.
We shouldn't be risking more than 1% so we are rewarded with 4%
This was only a 16.5 pip move and took about 4 hours.
The target D level was a ZOO point short to pay much more in a quicker time continuing the trend down.
Then look at the blue AB =CD. On the lower time frame, we would have seen the 75% was the entry level with the stop at the 100%. This was a 1:5 risk/reward.
Then the blue D was the ZOO point to start looking for longs.
Interesting are they not! The trick is always in the math of higher rewards than losses and not moving the stops once committed to the trade.
Set and forget. You either make a small loss or you reap a good reward.
These are good signals to specialize in since your losses and wins have predetermined levels, not just wild guesses.
Note how the 75% level (our stop) was tested a couple of times.
We shouldn't be risking more than 1% so we are rewarded with 4%
This was only a 16.5 pip move and took about 4 hours.
The target D level was a ZOO point short to pay much more in a quicker time continuing the trend down.
Then look at the blue AB =CD. On the lower time frame, we would have seen the 75% was the entry level with the stop at the 100%. This was a 1:5 risk/reward.
Then the blue D was the ZOO point to start looking for longs.
Interesting are they not! The trick is always in the math of higher rewards than losses and not moving the stops once committed to the trade.
Set and forget. You either make a small loss or you reap a good reward.
These are good signals to specialize in since your losses and wins have predetermined levels, not just wild guesses.
- #9,256
- Edited 2:35am Nov 21, 2023 2:16am | Edited 2:35am
- Joined Mar 2016 | Status: Trader | 6,383 Posts
- #9,259
- Nov 22, 2023 8:50pm Nov 22, 2023 8:50pm
- Joined Mar 2016 | Status: Trader | 6,383 Posts
Yesterday's move was nice as it hit the 1-hour D level in HD a great ZOO point was produced yielding far more than the required 40 pips.
Keep an eye out for the Hidden Divs they pay well.
Keep an eye out for the Hidden Divs they pay well.
- #9,260
- Nov 22, 2023 8:59pm Nov 22, 2023 8:59pm
- Joined Mar 2016 | Status: Trader | 6,383 Posts
On the 5 min chart we see the EMA taking out the lower levels as price reached the next level. Business as usual.
The trouble is that it didn't happen on my watch. I had to settle for several smaller trades earlier.
The trouble is that it didn't happen on my watch. I had to settle for several smaller trades earlier.