Trading the Cable swings via averages
{quote} Sorry I did miss the question! Here is the 15-min chart. The part we are looking at is inside the red box. Also added is the risk reward ratio of 1:2. {image} As for the horizontal lines. I use a red one to mark the past swing high average and a green one to mark the past average swing low. Does that cover the question?
Also, on the 4-hour chart you posted there were 5 different divs to take advantage of... {image}
{quote} Thank you Alan, i got this {quote} Regard about H4, i think we have 7 different DIV. I have hightlight them as yellow line on chart below, with 6 is RSI DIV bull and 7 is continous DIV bear with RSI fast at extremely is strong signal for find short ? Please comment if i understand wrong ? {image}
{quote} Yep, these are all good. Now because this is the 4-hour chart we treat these divs as ZOO points. Zones Of Opportunity and we drop to a lower time frame to trade them. Dropping to the 5 min chart we would identify an entry and would see a trend in the expected direction. Moreover, we would see the past swings of the average and determine those as targets. On the charts below you can clearly see the relationship between the charts. The 4-hour was at its EMA, The 5-min was in bear div, On the 5-min we can see plenty of prospective targets....
Just a mere 3% this week. It has been slow going. {image}
{quote} Thank you, Alan. H4 is also a part of reason why i also short yesterday. I still using demo to practice but this is a first time i win this big, gotta safekeeping this chart
{quote} Thank you, Alan. H4 is also a part of reason why i also short yesterday. I still using demo to practice but this is a first time i win this big, gotta safekeeping this chart
Hi Nala66. Just stumbled on this thread, and thanks for sharing your strategy. I have a couple of questions, and please forgive me if these have already be answered, but just want to establish whether this strategy would be applicable to my time frame, as I work full time and can only trade D1 charts, 4H charts at a stretch, and don't want to waste time reading the thread from the beginning and find out after about 200 pages that I can't actually use it for my circumstances. (1) Why the 108 bar? From what I think I understand so far, this is to...
{quote} 1) Yes, the 108 bar is about the London open and is the time I start to look for trades. I am in Australia, so it is about teatime for me round about 5pm depending on daylight saving. 2) Anything to do with long term trading is very inefficient as far as reward for time spent in the trade. Look at the daily chart below...{image} However, during that time there has been many opportunities to counter the trade (Hedge) and also add to the position BUT you have to be there to take advantage. Personally, I wouldn't bother, trading the London...
Here is the workings of the 5-min chart today...{image} If you cannot get the required pips from this then you are doing something wrong.
