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Trading the Cable swings via averages

  • #9,521
  • Apr 30, 2024 5:55am Apr 30, 2024 5:55am
I'll call it quits there so you guys can concentrate.
  • #9,522
  • Apr 30, 2024 5:58am Apr 30, 2024 5:58am
Quoting Nala66
I'll call it quits there so you guys can concentrate.
The daily open is often a tough nut to crack.
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File Type: ex4 Daily_Open Line.ex4   8 KB | 153 downloads
  • #9,523
  • Apr 30, 2024 12:42pm Apr 30, 2024 12:42pm
Not doing so well this week. Currently $10 up and the charts are all over the place with the EMA all converging together. My last trade I closed out due to big candles and little movement but my initial thoughts to go short proved correct. Looks like the M15 is attempting to hit the last EMA swing low but we now have divergence showing up. Try again tomorrow
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  • #9,524
  • May 1, 2024 3:09am May 1, 2024 3:09am
H4 looking for bear support. H1 divergence to take us back to the H1 EMA or bounce off the daily open. H4 EMA is nearby. target will be 1.24314 if we get a bounce off. Currently long as M5 and M15 have bull support and divergence. Watching carefully.
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  • #9,525
  • May 1, 2024 4:21am May 1, 2024 4:21am
Quoting 40PipsAlan
H4 looking for bear support. H1 divergence to take us back to the H1 EMA or bounce off the daily open. H4 EMA is nearby. target will be 1.24314 if we get a bounce off. Currently long as M5 and M15 have bull support and divergence. Watching carefully. {image}
Now at BE +2
  • #9,526
  • May 1, 2024 5:58am May 1, 2024 5:58am
Hi everyone and thanks Alan for such strategy,
im novice trader and new here can anyone guide me how I can go through this thread in short time? And please share the recent templates of this strategy.. wish best for all
  • #9,527
  • May 1, 2024 6:29am May 1, 2024 6:29am
Quoting 40PipsAlan
{quote} Now at BE +2
Kicked the long out for BE +2 and now going short.
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  • #9,528
  • Edited 12:36pm May 1, 2024 9:20am | Edited 12:36pm
Quoting 40PipsAlan
{quote} Kicked the long out for BE +2 and now going short. {image}
Short trade hit SL.
A daily range of 30 pips is no good at all.
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  • #9,529
  • May 1, 2024 12:34pm May 1, 2024 12:34pm
Quoting Adnan2005
Hi everyone and thanks Alan for such strategy, im novice trader and new here can anyone guide me how I can go through this thread in short time? And please share the recent templates of this strategy.. wish best for all
You will need to understand the concept of RSI divergence and hidden divergence. You should be able to get the basics from the first 100 pages of the thread.
I recommend a separate chart for each GU tf. Daily,H4,H1,M15 and M5 so you can plot the EMA swing HiLo for each. I believe Nala plots all the EMA swings with different colours for each tf and I have tried that but found it very confusing with lines everywhere. Add a 26EMA to each chart along with the RSI/14 and RSI/5 and you are good to go. Identify the ZOO areas and find the divergence to put a trade on. SL is 20 pips, TP is 40 pips and each trade is 1% of available equity.
The start of London Open is when we watch for a trade.

A
  • #9,530
  • May 2, 2024 12:58am May 2, 2024 12:58am
I only traded this bit yesterday. In the red circle.
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The big move came whilst I was sleeping.
  • #9,531
  • May 2, 2024 1:06am May 2, 2024 1:06am
Quoting Adnan2005
Hi everyone and thanks Alan for such strategy, im novice trader and new here can anyone guide me how I can go through this thread in short time? And please share the recent templates of this strategy.. wish best for all
Welcome Adnan. This is not so much of a strategy but rather a method of reading the charts to determine signal entries, target distance and stop for risk management.

This is not something you can master in a few minutes of reading. You have to study the reasons behind the price action and determine what the charts are saying. If you cannot read the charts and understand their meanings, then you will find it very difficult to be consistently profitable.
  • #9,532
  • May 2, 2024 3:19am May 2, 2024 3:19am
This thing is flat. Waiting to see some M5 RSI/14 hitting OB or OS before I do any more trading.
  • #9,533
  • May 2, 2024 3:37am May 2, 2024 3:37am
Hope everyone is on the bear HD...

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I bailed out at the daily pivot because I got a visitor.
  • #9,534
  • May 2, 2024 3:49am May 2, 2024 3:49am
Quoting Nala66
Hope everyone is on the bear HD... {image} I bailed out at the daily pivot because I got a visitor.
M5 RSI divergence too.
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  • #9,535
  • May 2, 2024 3:59am May 2, 2024 3:59am
Quoting Nala66
Hope everyone is on the bear HD... {image} I bailed out at the daily pivot because I got a visitor.
Adding some M15 EMA swing targets. Price has tested the last swing high. Might go retest the last one but got some hurdles to jump first.
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  • #9,536
  • May 2, 2024 4:58am May 2, 2024 4:58am
I'm back and price has barely moved?
  • #9,537
  • May 2, 2024 4:59am May 2, 2024 4:59am
With bear HD's on the 1H, 15M, 5M we should be heading for the swing low averages.
  • #9,538
  • May 2, 2024 5:09am May 2, 2024 5:09am
On the 5M the averages are starting to bunch up, maybe a big move later to break them up.
  • #9,539
  • May 2, 2024 6:21am May 2, 2024 6:21am
daily sell target is still on the table 260 Pips away. I will probably die from old age before it gets there.
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  • #9,540
  • May 2, 2024 9:10am May 2, 2024 9:10am
That will do +35 pips. Took forever
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