Trading the Cable swings via averages

Quoting 40PipsAlan

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Hi Al, Here we have some recent daily divergence trade signals. To confirm the divergence we should wait until we get a red candle i guess because the next candle could be blue and keep going up. If we ignore that for now and go for a trade at the start of the red candle. Trade 1 distance to EMA=100 pips, SL=50. Possible BE trade. Trade 2 distance to EMA=130 pips, SL=65. Possible BE trade. Trade 3 distance to EMA=120 pips, SL=60. Trade winner. Trade 4 distance to EMA=80 pips, SL=40. Trade winner. {image}

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Quoting Nala66

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If we look at the daily chart, we see exactly what we are looking for. An ABCD to give us a target. A Bull div to take us there. A swing high average to aim for to make a HH average. The bulls have found support {image}

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Quoting Nala66

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We have made an exact hit on the daily for the ABCD. Now I am at a loss to the next destination so I will have to sit and wait for the construct. {image} Price has hit the target in a bear div. The average has made the HH so I would be expecting some form of pull back. The monthly chart is telling me nothing.

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Quoting 40PipsAlan

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{quote} Hey Al, How about the weekly ABCD {image}

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Quoting 40PipsAlan

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What's the chances Alan? Daily divergence cross the EMA maybe. Now at BE on 2 trades and looking to add more shorts {image}

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Quoting Nala66

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Surprised nobody called me out on this one I forgot! A fourth thing to consider with divergences is a swing will often start and end with one. This means we can get the extreme high down to the extreme low of a move. 4) A bear div often ends with a bull div and vice versa.

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Quoting limth

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{quote} Hi Alan: Your rules stated valid divergences cancel each other....However for double RSI (5 & 14) divergence, how do we determine up to which point (in term of price or divergence test line) its validity is over? I found double RSI divergence test lines' directions are not in line but in opposite..

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Quoting 40PipsAlan

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We have H1 bear support and now H4 is looking to make bear support. +67 today, nice. Trading the daily is very slow. {image}

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Quoting 40PipsAlan

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We have H1 bear support and now H4 is looking to make bear support. +67 today, nice. Trading the daily is very slow. {image}

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