Trading the Cable swings via averages

Quoting 40PipsAlan

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Time to call it a week. Been really tough with divergence failing to cross the EMA in some cases the pullback is very minor and getting a reverse trade on takes some effort with regards screen time. I feel my trade decision making is getting easier with each passing week and I don't bother checking out the other trading strategies any more. This is the one. {image}

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Quoting 40PipsAlan

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Keep at it guys. Not a bad week for +5% on the demo account. Still making some dud trading decisions with losses of course but overall happy with the week. Next week sit on the impulse trading finger and engage brain a bit more before clicking. FOMO is bad for profits. {image}

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Quoting eliotjng

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{quote} Hello 40PipsAlan, normally how long do you usually trade per day ?? Have you ever trade in US session ?

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Quoting 40PipsAlan

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{quote} Yo Boss. I am chart watching all London session looking for a trade on the PC and sometimes the mobile when I am away doing a job somewhere. Half the reason being the testing of my bull/bear support indi, for some reason the phone MT4 alerts are giving me grief and not matching the arrows on the charts. Anyway steer clear of M5 charts divergence and I only use that for bull/bear arrows to give me direction. You will notice M5 divergence on nearly every swing. The M15 is a better chart for divergence trades and go with the H1 trend. Is surprising...

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Quoting eliotjng

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Yesterday trade is BE, i get out as M5 struggle to build support on EMA. Should entry sell when M15 form DIV bear, but thing go against my forecast, so i got numb. Today, H4 still DIV bull on EMA swing. H1 form bear support + currrently in DIV bear continous, will it form new bear support? M5 EMA fail LL --> may come to EMA target. So today i suspect price will go up attack EMA M5 and later go down attack 3050 target (ABCD target + EMA swing target on H1). {image}

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Quoting eliotjng

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Yesterday trade is BE, i get out as M5 struggle to build support on EMA. Should entry sell when M15 form DIV bear, but thing go against my forecast, so i got numb. Today, H4 still DIV bull on EMA swing. H1 form bear support + currrently in DIV bear continous, will it form new bear support? M5 EMA fail LL --> may come to EMA target. So today i suspect price will go up attack EMA M5 and later go down attack 3050 target (ABCD target + EMA swing target on H1). {image}

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Quoting Nala66

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{quote} This is mostly dangerous stuff. Trying to forecast the event is at best 50/50. I look for the signal and determine where it is trying to get to, then add trades when it verifies the direction is correct. See the 4-hour at the moment. The EMA is making the LL, but the price is stuck at the next LL level. This means we are stuck not knowing if price will bounce or break lower. {image} Just have to be patient and await what happens next.

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Quoting 40PipsAlan

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{quote} You did better than me yesterday. I am down -0.5% so far. Waiting for direction.

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Quoting eliotjng

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{quote} Alan, I think you said we should forecast first, so we got general where price may go? Of course that is my plan but if signal say different thing, i won't trade. {quote} But you have more winning day than me , just another BE day for me. Today i guess price go up and down, instead it run down and up . My trade is buy at 2, reason for entry is EMA M5 fail LL and on H1 we may form a bull support, and i move to BE after a spike bar. Haizz, i should wait price build support before move stop. My trade schedule is focus...

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Quoting Benepamm

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Alan, once again I want to thank you for your work, I practically studied the entire thread, a very cool trading system and brilliant money management. I have a question: MT5 has appeared on the Bybit exchange (which used to be a purely crypto exchange) and there is a pound and a leverage of 1:500, I want to trade with them, but not all indicators are available for MT5. Is there a set of indicators for working on the MT5 terminal?

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