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Trading the Cable swings via averages

  • #9,541
  • May 2, 2024 12:18pm May 2, 2024 12:18pm
Quoting 40PipsAlan
That will do +35 pips. Took forever {image}
Anyone else spot the M5 divergence at a previous swing level? Time to close the trade
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  • #9,542
  • May 3, 2024 2:50am May 3, 2024 2:50am
This bear div on the 1H should send price back to the EMA but the bears are struggling so watch out for the HH.

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When struggles are on like this better to sit on hands for a tad.
  • #9,543
  • May 3, 2024 3:13am May 3, 2024 3:13am
Quoting Nala66
This bear div on the 1H should send price back to the EMA but the bears are struggling so watch out for the HH. {image} When struggles are on like this better to sit on hands for a tad.
H1 HD forming
  • #9,544
  • May 3, 2024 4:06am May 3, 2024 4:06am
Hopeless at the moment.
  • #9,545
  • May 3, 2024 4:10am May 3, 2024 4:10am
Quoting Nala66
Hopeless at the moment.
here we go Al. M15 divergence too
  • #9,546
  • May 3, 2024 4:21am May 3, 2024 4:21am
I just don't see what is going on here at the moment. I will sit it out until things become clearer. Price should be coming down not going up!
  • #9,547
  • May 3, 2024 4:26am May 3, 2024 4:26am
H1 is testing a previous EMA swing level and making a double top as tested here before. Could also break it
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  • #9,548
  • May 3, 2024 4:31am May 3, 2024 4:31am
All I can see is both the weekly and the monthly are testing the EMA.
  • #9,549
  • May 3, 2024 4:37am May 3, 2024 4:37am
Nope this is too risky, I will walk away and maybe check in later. It is Friday after all.
  • #9,550
  • May 3, 2024 4:44am May 3, 2024 4:44am
Quoting Nala66
Nope this is too risky, I will walk away and maybe check in later. It is Friday after all.
And NFP day too
  • #9,551
  • May 3, 2024 4:58am May 3, 2024 4:58am
Quoting 40PipsAlan
{quote} And NFP day too
Ah yes, I forgot about that. 2.5 hours from now.
  • #9,552
  • May 3, 2024 5:48am May 3, 2024 5:48am
Quoting Nala66
I just don't see what is going on here at the moment. I will sit it out until things become clearer. Price should be coming down not going up!
Looks like it simply was grinding for h4 D-level
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  • #9,553
  • May 3, 2024 6:43am May 3, 2024 6:43am
Quoting Fantaburk
{quote} Looks like it simply was grinding for h4 D-level {image}
Yes, you are correct. I didn't have that charted.

I must be getting old or something.
  • #9,554
  • May 3, 2024 7:37am May 3, 2024 7:37am
I'm happy. See ya on Monday
  • #9,555
  • May 3, 2024 9:26am May 3, 2024 9:26am
A tough week but managed 6.16% so happy with that. Have a good weekend guys. Bank holiday Monday coming up so might be a bit quieter.
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  • #9,556
  • Edited 2:06pm May 3, 2024 1:52pm | Edited 2:06pm
I like to review each days action to see where I can improve things, I hope Nala doesnt mind me pitching in with these. I must admit I didn't see this H1 divergence from way back yesterday but Nala did and mentioned price was moving down very slow and to expect a HH. Some of us might have jumped into a short or 2 based on the M5 bear supports circled on the M5 chart on the right. As you can see the M5 was showing bull divergence all the way to the reversal point and should have been a warning to get out of the short trade and standby for a bit. Bearing in mind that's its an NFP day and now not far from the event.
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  • #9,557
  • Edited 2:35pm May 3, 2024 2:16pm | Edited 2:35pm
This next H1 divergence would have been a stop loss in my opinion. Dropping to the M5 chart we see bear divergence there as well and probably dive in with a short and the nearest M5 bear support. Not every trade can be a winner but lucky for me i had a pending buy trade in case another HH was about to happen.
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  • #9,558
  • May 3, 2024 2:37pm May 3, 2024 2:37pm
Quoting 40PipsAlan
This next H1 divergence would have been a stop loss in my opinion. Dropping to the M5 chart we see bear divergence there as well and probably dive in with a short and the nearest M5 bear support. Not every trade can be a winner but lucky for me i had a pending buy trade in case another HH was about to happen. {image}
Got my +40 pips today. If it was real money I wouldn't be trading on NFP day.
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  • #9,559
  • May 3, 2024 2:56pm May 3, 2024 2:56pm
Quoting 40PipsAlan
I like to review each days action to see where I can improve things, I hope Nala doesnt mind me pitching in with these. I must admit I didn't see this H1 divergence from way back yesterday but Nala did and mentioned price was moving down very slow and to expect a HH. Some of us might have jumped into a short or 2 based on the M5 bear supports circled on the M5 chart on the right. As you can see the M5 was showing bull divergence all the way to the reversal point and should have been a warning to get out of the short trade and standby for a bit....
LO opened in a RSI/RSI bull divergence with both m5 and m15 in bull divs. This indicated the bear div you point out will fail to reach ema, thus bears will fail to take out m5 ema swing level on the downside. Hence should continue upwards.
I am noot at the PC so can't show you, sorry.

We would be better off looking for longs today with price above H1 ema, and H1 ema above H4 ema both sloping upwards. (More of a reminder to myself)

Just my two cents of todays action.
  • #9,560
  • May 3, 2024 3:14pm May 3, 2024 3:14pm
Quoting Fantaburk
{quote} LO opened in a RSI/RSI bull divergence with both m5 and m15 in bull divs. This indicated the bear div you point out will fail to reach ema, thus bears will fail to take out m5 ema swing level on the downside. Hence should continue upwards. I am noot at the PC so can't show you, sorry. We would be better off looking for longs today with price above H1 ema, and H1 ema above H4 ema both sloping upwards. (More of a reminder to myself) Just my two cents of todays action.
Yes I started off today looking for long trades after seeing the M15 bull divergence and I missed the first bull support candle being away from my PC. Then the M15 showed bear divergence suggesting a short is coming. In hindsight maybe I should have been long and then go for a hedge trade.
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