Trading the Cable swings via averages

Quoting 40PipsAlan

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Nala is right as always. GU heading up again. {image}

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Quoting 40PipsAlan

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{quote} Daily chart in divergence. {image}

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Quoting Nala66

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{quote} G'day mate. You have the charts ABCD a tad wrong. You have A at the divergence pivot, it should be the one before. It has hit the D target in divergence to send it short again from the D ZOO point. Should look like this... {image}

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Quoting 40PipsAlan

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{quote} Cheers boss, I don't really use the ABCD as I cant tell which direction it will go and even a confirming support candle can turn against me. I look for the divergence at the extremes and try to head back to the EMA again. Interesting what you say about the wrong A point (looks like B to me) made by the indi and i should have picked the one before. I always thought it was the highest/lowest close to make the ABCD triangle and now I am confused. Correct me if i am wrong but we don't include the divergence pivot that crosses the EMA in the...

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Quoting 40PipsAlan

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Bit slow today. First short of the day +10 followed by 3 X BE trades then another short for +13. Better luck tomorrow. {image}

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Quoting Fiona96

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Hey Alan, Hey Alan, I hope you’re doing well. I've been using your trading method for a while, but recently I encountered something unexpected. In the 4H chart in the image below, the price clearly failed at the 50% level, but instead of forming an ABCD pattern as expected (yellow line), but then it reversed upwards. Why did this happen? Sorry for the tiny marked up, I failed to make it bigger {image}

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Quoting Nala66

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{quote} I must be getting old because it took me a while to work out what was wrong here. The chart appeared to be the complete opposite of my 4-hour chart. Then it dawned on me like a bolt from the blue. Yours is not the GBP/USD so I cannot comment. I only trade the one pair which is plenty enough work to do. Using your chart it all looks good to me heading for the D target not the D1 {image}

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Quoting Fiona96

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{quote} Yes I do believe it would heading D not D1, but what I wanna ask is that if the 50% failed, then it can still hit D not D1? Because previously, I thought if 50% level is failed then it would definitely hit D1 with no doubt.

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Quoting Nala66

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{quote} Well, the 50% levels on both sides are critical because if price stays between these two levels it is ranging, we then need to see a breakout of these 50% levels. Often the best trades are when price has actually hit the D1 or D targets and if in divergence a counter trade is on the cards, this can often run from one side completely to the opposite side. I watch for the 50% failures but that doesn't mean it will always make the opposite side, as I said it could simply be ranging.

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Quoting Fiona96

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{quote} Thank you so much Alan.

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