How about this one Alan? I missed it
More good dollar news crashed GU down.
More good dollar news crashed GU down.
Attached Image (click to enlarge)
Trading the Cable swings via averages
- #9,404
- Apr 12, 2024 2:27am Apr 12, 2024 2:27am
- Joined Mar 2016 | Status: Trader | 6,378 Posts
{quote} Can you explain more detail about the targeting? When to H1-ema and when to next H1-ema swing level? Thank Alan!
The first this is I use a red horizontal for the average tops and a green horizontal for the average bottoms.
I have the EMA averages of the 1H, 2H, 4H and the daily on this one chart. This provides the classic rainbow rollover of averages.
The grid on this chart is 50 pips wide.
No other indicator is needed to trade this method.
We have to work out by analysis what has transpired on the chart.
The lines A, B, C, D and E are this analysis. The line x has been broken so this can be deleted from the chart being redundant.
We have a bear divergence at the top to give us our entry and we can see the nearest target average swing low (B) is 70 pips away.
Now we do the math and let 70 pips equal 2% to work out our entry lot size. The initial stop would then be 35 pips or 1%. This is a great trade to be in because the lot size required leaves us plenty of money to add to the position. Even if we let this single trade run to D we make more than 8% profit.
Currently the price has tested D several times and now the EMA has broken C so price should test the next level E.
Why didn't the price stop at B or even C. Well, we can see these levels have already been tested previously.
Hope this helps a tad.....
- #9,405
- Apr 12, 2024 2:32am Apr 12, 2024 2:32am
- Joined Mar 2016 | Status: Trader | 6,378 Posts
I hope that last post was not too much of a headache.
Take a look at this 15-minute chart and then reach for the tablets.
Take a look at this 15-minute chart and then reach for the tablets.
- #9,406
- Apr 12, 2024 2:40am Apr 12, 2024 2:40am
- Joined Mar 2016 | Status: Trader | 6,378 Posts
The higher the time frame the longer it takes for the charts to set up.
Guess what this 4-hour chart is going for?
A bull divergence could easily stop it.
Guess what this 4-hour chart is going for?
A bull divergence could easily stop it.
- #9,407
- Edited 5:43am Apr 12, 2024 4:06am | Edited 5:43am
- Joined Apr 2019 | Status: Trader | 1,996 Posts
- #9,408
- Apr 12, 2024 5:41am Apr 12, 2024 5:41am
- Joined Mar 2016 | Status: Trader | 6,378 Posts
Did you all guess correctly on the 4-hour chart???????
- #9,411
- Apr 12, 2024 5:49am Apr 12, 2024 5:49am
- Joined Mar 2016 | Status: Trader | 6,378 Posts
{quote} No boss, I dont have that line on my chart. Cant see where you got it from
- #9,414
- Apr 14, 2024 10:14am Apr 14, 2024 10:14am
{quote} This is a big question but maybe a refresher is needed. Glad you picked the 1-hour chart because there is not too much to explain there. The first this is I use a red horizontal for the average tops and a green horizontal for the average bottoms. I have the EMA averages of the 1H, 2H, 4H and the daily on this one chart. This provides the classic rainbow rollover of averages. The grid on this chart is 50 pips wide. No other indicator is needed to trade this method. We have to work out by analysis what has transpired on the chart. The lines...
How about the bull-div at the E level. Where should I target, to the H1-ema or to A-level.
Thank Alan!
{quote} Hi Kev, my Skype has now changed, and I have lost all my contacts from previous. Also, all the email records I had are also gone into the digital black hole. Send me a private post with your email and I will establish a new connection.
.. I have dropped you a DM 
- #9,416
- Edited 4:59am Apr 15, 2024 4:15am | Edited 4:59am
- Joined Mar 2016 | Status: Trader | 6,378 Posts
- #9,418
- Apr 15, 2024 10:50am Apr 15, 2024 10:50am
- Joined Mar 2016 | Status: Trader | 6,378 Posts
{quote} Alan, could you please provide me with a detailed explanation of your process for analyzing price and determining your trading action if you have a long position from that bull-div? Thank you.
This is best viewed at the 5 min level where we see a bull div take price back to the 1-hour EMA. BUT, look what happens!
Price runs into a bear div so expect a LL than the previous bull div some 60 pips or so.
See the charts below in the red boxes.
Even now price cannot hold support above the EMA and on the 5 min we see it test the average swing low from a bear div.
Is there something about this you don't understand?
- #9,419
- Apr 15, 2024 11:16am Apr 15, 2024 11:16am
- Joined Mar 2016 | Status: Trader | 6,378 Posts
As I have said many times in the past hidden divergence is a great way to trade.
Just look at the options here on the 1-hour chart...
We can also see that price is banging its head on the 2-hour EMA.
Each HD has at least made it back to the 1-hour average and then some.
Just look at the options here on the 1-hour chart...
We can also see that price is banging its head on the 2-hour EMA.
Each HD has at least made it back to the 1-hour average and then some.