Disliked{quote} MMM! This sounds a bit like overtrading to me. I sometimes have to wait days for a good signal, whereas in the meantime I drop my lot size and try to scalp a few pips to keep things ticking over. I don't recommend scalping as it is very much a risky business, we tend to win some and lose more. Those hidden divergences tend to pay me well by letting price fall back on my pending entry and putting the stops just beyond the HD. Those wedgy breakouts are cool to because we have a target and a pretty tight stop just back inside the wedge. I plot...Ignored
Trading the Cable swings via averages
- #10,002
- Jan 13, 2025 2:14am Jan 13, 2025 2:14am
- Joined Mar 2016 | Status: Trader | 6,378 Posts
I am testing a long here (20 pips up so far)
We have an RSI bull div at the triangle breakout target and the swing low average. Good ZOO points to have a go at.
We have an RSI bull div at the triangle breakout target and the swing low average. Good ZOO points to have a go at.
- #10,003
- Jan 13, 2025 2:28am Jan 13, 2025 2:28am
- Joined Mar 2016 | Status: Trader | 6,378 Posts
Well, that was an easy do.
- #10,007
- Jan 13, 2025 4:46am Jan 13, 2025 4:46am
- Joined Mar 2016 | Status: Trader | 6,378 Posts
Hi Guys! I've been away from trading the Cable for a while. I tried my luck in indices instead, only to come to the conclusion that my inabillity to reach a stable profitability was all along down to my weak mental game. Spent some time off to work myself out and would like to give it another go. I like the 1:2 R/R you have pivot too. Plan to work a small account with a set&forget style until summer, trying to stay above 50% hitrate and see if I learnt my lesson. Posting my first entry back. Happy new year! {image}
Your chart shows a long on the bull div. It didn't make the average so expect a LL. You should have been stopped out for BE.
This was followed by a hidden bull div (I was stopped out for 20 pips on that one)
So, three trades so far +40 +40 and +20. Have a rest now, maybe trade later.
The red trend line was me trying to find the wedge, could not do it though.
- #10,009
- Jan 13, 2025 5:05am Jan 13, 2025 5:05am
- Joined Mar 2016 | Status: Trader | 6,378 Posts
I will sit on hands now. I thought price was going to get down to the D1. Then it changed its mind and has again changed its mind.
Too choppy now...
Too choppy now...
- #10,010
- Jan 13, 2025 5:15am Jan 13, 2025 5:15am
- Joined Mar 2016 | Status: Trader | 6,378 Posts
Ha, found the wedge on the 15 min chart...Toooo late now though.
- #10,012
- Jan 13, 2025 5:48am Jan 13, 2025 5:48am
- Joined Mar 2016 | Status: Trader | 6,378 Posts
I see also on the 15min chart it was also the D1 of the ABCD.
My fault for not analyzing all the charts properly...
My fault for not analyzing all the charts properly...
- #10,014
- Jan 14, 2025 3:31am Jan 14, 2025 3:31am
- Joined Mar 2016 | Status: Trader | 6,378 Posts
I have my 40 pips.
Now I am thinking this may run back down to the 21165. 
Now I am thinking this may run back down to the 21165.
- #10,018
- Jan 14, 2025 4:36am Jan 14, 2025 4:36am
- Joined Mar 2016 | Status: Trader | 6,378 Posts
I would have opted for a long trade seeing as we had H1 bull support.
This may well be a bear support forming now.
- #10,019
- Jan 14, 2025 4:40am Jan 14, 2025 4:40am
- Joined Mar 2016 | Status: Trader | 6,378 Posts
See how from the bear HD price ran down to the average swing low. This tells me there are at least 40 pips in the move.
See also how the up move was also a bull HD and that there were easily 40 pips to the EMA.
For a trade we need to have:
Timing
Entry Signal
Target
Stop
and money management.
If any of these is missing, we sit on our hands.
See also how the up move was also a bull HD and that there were easily 40 pips to the EMA.
For a trade we need to have:
Timing
Entry Signal
Target
Stop
and money management.
If any of these is missing, we sit on our hands.
