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Trading the Cable swings via averages

  • #9,821
  • Jul 7, 2024 2:11pm Jul 7, 2024 2:11pm
I am just looking at Thursdays H1 chart where we would have gone short due to the divergence and wondering at what point we say divergence has failed. Maybe the bull support candles on the M15 and M5 following the H1 divergence is the answer.
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  • #9,822
  • Jul 8, 2024 7:29am Jul 8, 2024 7:29am
Quoting 40PipsAlan
I am just looking at Thursdays H1 chart where we would have gone short due to the divergence and wondering at what point we say divergence has failed. Maybe the bull support candles on the M15 and M5 following the H1 divergence is the answer. {image}
Hello 40PipsAlan, here is my view on Thursday and hope i can help you with it. On H1, your chart show price in DIV bear, but we are still above EMA so we not sure about down trend yet.
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Now take a look at H4 above, we see price reach H4 EMA target and expect down. But before our trade time, price sideway and it make higher high, higher low instead --> maybe still in up trend in our trade time ?

Again, in our trade time, H4 create DIV bear, but in US session, price push down again but still make higher low, and H4 close in continous DIV bull. This is pretty convince me we are still in bull trend

So to answer your question, after H4 close in higher low and it also in DIV bull + price still above EMA --> i expect DIV bear on H1 will fail --> i buy and expect price make HH.
  • #9,823
  • Jul 8, 2024 2:11pm Jul 8, 2024 2:11pm
Luckily GU doesn't trend that often which seems to be my downfall of late. Demo account is still on the up tho.
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  • #9,824
  • Jul 9, 2024 12:39am Jul 9, 2024 12:39am
Quoting 40PipsAlan
I am just looking at Thursdays H1 chart where we would have gone short due to the divergence and wondering at what point we say divergence has failed. Maybe the bull support candles on the M15 and M5 following the H1 divergence is the answer. {image}
Yep, that is what I do.
  • #9,825
  • Jul 11, 2024 4:28am Jul 11, 2024 4:28am
Is it too early to say we are finally breaking out of the 50% on the weekly. It has only taken 44 weeks thus far
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  • #9,826
  • Jul 11, 2024 6:32am Jul 11, 2024 6:32am
Quoting Nala66
Is it too early to say we are finally breaking out of the 50% on the weekly. It has only taken 44 weeks thus far {image}
Hey Al,
I have another Weekly ABCD showing. Almost at the D target.
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  • #9,827
  • Jul 11, 2024 7:36am Jul 11, 2024 7:36am
Quoting 40PipsAlan
{quote} Hey Al, I have another Weekly ABCD showing. Almost at the D target. {image}
Dear oh Dear how did I miss that?
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  • #9,828
  • Jul 11, 2024 7:44am Jul 11, 2024 7:44am
Now I see why, it was because I had it as a smaller one that hit the D1.

I remember now that I had to look at the closing prices for B and C and there was only about a pip in it to make C a tad higher than B.

The coloured triangle on this chart...
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Did you get the same?
  • #9,829
  • Jul 11, 2024 7:50am Jul 11, 2024 7:50am
Now on the 4 hour... If the EMA is to break A then price should attempt B.
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  • #9,830
  • Jul 11, 2024 7:50am Jul 11, 2024 7:50am
Quoting Nala66
Now I see why, it was because I had it as a smaller one that hit the D1. I remember now that I had to look at the closing prices for B and C and there was only about a pip in it to make C a tad higher than B. The coloured triangle on this chart... {image} Did you get the same?
Mine is from the indi.
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  • #9,831
  • Jul 11, 2024 7:54am Jul 11, 2024 7:54am
Quoting 40PipsAlan
{quote} Hey Al, I have another Weekly ABCD showing. Almost at the D target. {image}
It is hard for me to see the blue lines on a black background but it loooooks like Your ABCD hit the D1 also.
  • #9,832
  • Jul 11, 2024 7:57am Jul 11, 2024 7:57am
Quoting 40PipsAlan
{quote} Mine is from the indi. {image}
Ha ha now from this blow up I see it didn't hit your D1.

I don't use the indi, I prefer to plot the stuff by hand. Gives me something to do to pass the time.
  • #9,833
  • Jul 17, 2024 6:50am Jul 17, 2024 6:50am
Nearly there guys...

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I wonder if it will try to test the next level at 3105?
  • #9,834
  • Jul 22, 2024 9:43am Jul 22, 2024 9:43am
After failing to make the HH and running into a bear div price has returned to the EMA and crossed to form an ABCD. However it is stuck between the C point and the 50% of D1.

We need that break out....

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  • #9,835
  • Jul 23, 2024 4:53am Jul 23, 2024 4:53am
This GU movement is painfully slow.
  • #9,836
  • Jul 23, 2024 6:28am Jul 23, 2024 6:28am
Quoting 40PipsAlan
This GU movement is painfully slow.
I got a few pips on that break down but nothing to write home about hey!
  • #9,837
  • Jul 24, 2024 8:08am Jul 24, 2024 8:08am
Bit better today but very slow... 6 hours whew!
  • #9,838
  • Jul 24, 2024 8:28am Jul 24, 2024 8:28am
The daily average is pushing for a HH...
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Can the monthly finally break from this darn tight average range?
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  • #9,839
  • Jul 28, 2024 2:29pm Jul 28, 2024 2:29pm
Hello Alan!

I'm from Ukraine. Continents separate us.)

I accidentally came across a link to your topic on this forum and I’m very glad about it.
I have to say, I'm delighted!

I’ve studied 10% of the branch so far, but that’s already enough), but I’m learning further by leaps and bounds).

I want to thank you for the work you have done over so many years, it is worth a lot.
You're great!
  • #9,840
  • Jul 29, 2024 1:54am Jul 29, 2024 1:54am
Since it is Monday let's do a top down to see what's going on...

The monthly chart is still holding bullish, hopefully trying to break out of that narrow average we have been stuck in for so long now.

The weekly chart has retraced almost back to the 50% of D in an ABCD.

The daily chart is trying desperately to make the HH average currently at a double top average.

On the 1-hour chart we see we are stuck between the 4-hour average and the daily average and also ranging between the two 50% of D and D1.

The 1-hour is heading south off an RSI div so I would be watching this for a bear support to take it down to D1.
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It should be noted that off a previous bear div the bears couldn't find support.

I am guessing here that the bulls will take it long.
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