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Trading the Cable swings via averages

  • #9,501
  • Apr 29, 2024 9:05am Apr 29, 2024 9:05am
Quoting 40PipsAlan
Todays trade taken out at BE. H1 and M15 showing divergence. Maybe my 40 pip target should have been the H1 EMA instead as that is where some more divergence popped up. Never mind {image}
Yep, difficult to trade with price on the daily EMA!
  • #9,502
  • Apr 29, 2024 11:06am Apr 29, 2024 11:06am
Quoting Nala66
{quote} Yep, difficult to trade with price on the daily EMA!
2 X BE and a $20 loss.
End the day losses recovered and $2 up. Try again tomoz.
  • #9,503
  • Apr 30, 2024 1:14am Apr 30, 2024 1:14am
Quoting 40PipsAlan
{quote} 2 X BE and a $20 loss. End the day losses recovered and $2 up. Try again tomoz.
Actually, I lost a tad yesterday and then made it up again. I wasn't going to mention that though.
  • #9,504
  • Apr 30, 2024 2:40am Apr 30, 2024 2:40am
Another tricky day right on the H4 EMA. H1 looking for Bear support. Could also say daily is looking for bull support
  • #9,505
  • Apr 30, 2024 3:25am Apr 30, 2024 3:25am
Last day of the month and I have just made my monthly profit target.

Yesterday's wins and losses made a huge difference to my ratio of profits for losses.

It ended up it cost $1 for each $5.96 of profit.

Still, that gives me a baseline to improve upon.
  • #9,506
  • Apr 30, 2024 3:37am Apr 30, 2024 3:37am
44 wins and just 7 losses.

That is just over 6 wins for each loss.

I just thought it would be interesting to measure my performance something I normally don't do.

Keeping stats like this just adds to the pressure of trading by adding an additional challenge.

I much prefer to set myself a monthly target and gear everything towards that goal.
  • #9,507
  • Apr 30, 2024 3:55am Apr 30, 2024 3:55am
Back to the use of hidden divergence...

Here on the daily we have the red line, but it has chopped into the pivot shown so that cannot be divergence.

But look at the green line it just made it past the pivot when according to the history of the RSI it would have been in divergence.

It snapped back at that point to make it HIDDEN.

Check it out on your own charts...
Attached Image (click to enlarge)
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Cool uh!

Taking it back to the EMA was a nice 230 or so.
  • #9,508
  • Apr 30, 2024 4:02am Apr 30, 2024 4:02am
The point of identifying these bigger moves is that if we are not all the time long, we could be looking at a serious drawdown if not protected with stops.

Now as 40 said above we could be looking at a bull support forming to take price to an average swing high level.
  • #9,509
  • Apr 30, 2024 4:07am Apr 30, 2024 4:07am
Just take a look at the monthly and despite all the swings up and down the market has kept the average in a 70-pip range. This has been going on for months now.

When is it going to break out?
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  • #9,510
  • Apr 30, 2024 4:10am Apr 30, 2024 4:10am
11 Pips back up to the daily open price. Recovered todays loss trying a short trade.
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  • #9,511
  • Apr 30, 2024 4:39am Apr 30, 2024 4:39am
Quoting Nala66
44 wins and just 7 losses.
And how many BE's have you endured?
  • #9,512
  • Apr 30, 2024 4:48am Apr 30, 2024 4:48am
Check out the short term 15-min...
Attached Image (click to enlarge)
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A hidden div at the ZOO point.
  • #9,513
  • Apr 30, 2024 4:51am Apr 30, 2024 4:51am
Quoting Fantaburk
{quote} And how many BE's have you endured?
I don't tend to get any of those because I lock in a few when the price allows me to.
  • #9,514
  • Apr 30, 2024 5:22am Apr 30, 2024 5:22am
Quoting 40PipsAlan
11 Pips back up to the daily open price. Recovered todays loss trying a short trade. {image}
I guessing you are just in profit?
  • #9,515
  • Apr 30, 2024 5:25am Apr 30, 2024 5:25am
Quoting Nala66
{quote} I guessing you are just in profit?
Yes boss. Past 2 days have been rubbish and all over the place.
  • #9,516
  • Apr 30, 2024 5:27am Apr 30, 2024 5:27am
Quoting 40PipsAlan
{quote} Yes boss. Past 2 days have been rubbish and all over the place.
I hope you closed.
  • #9,517
  • Apr 30, 2024 5:30am Apr 30, 2024 5:30am
Quoting Nala66
{quote} I hope you closed.
Currently long again. M15 has found bull support and looking to reach the last EMA swing high.
  • #9,518
  • Apr 30, 2024 5:39am Apr 30, 2024 5:39am
I can't draw fast enough to keep up...
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  • #9,519
  • Apr 30, 2024 5:41am Apr 30, 2024 5:41am
If this current bear HD fails then you may make that average swing high
  • #9,520
  • Apr 30, 2024 5:50am Apr 30, 2024 5:50am
The tick chart is barely moving, not much interest.

Price is bouncing off the C of the ABCD
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