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Trading the Cable swings via averages

  • #10,041
  • Jan 21, 2025 5:30am Jan 21, 2025 5:30am
Hello Sir, I found this post to be very good and have spent some time reading through more than 50 pages. However, because I am Chinese and my level of English is quite limited, and using translation software doesn't always provide accurate translations, I'm having some difficulty understanding it. I've tried drawing a few pictures based on my understanding. Could you please check if they are correct? Thank you.Hello Sir, I found this post to be very good and have spent some time reading through more than 50 pages. However, because I am Chinese and my level of English is quite limited, and using translation software doesn't always provide accurate translations, I'm having some difficulty understanding it. I've tried drawing a few pictures based on my understanding. Could you please check if they are correct? Thank you.
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  • #10,042
  • Jan 21, 2025 6:40am Jan 21, 2025 6:40am
Quoting 40PipsAlan
{quote} I am going the other way. H1 has found bear support so I am looking at the last EMA swing target. {image}
Lets call that a breakeven day. Dang thing is now going the other way.
  • #10,043
  • Jan 22, 2025 2:26am Jan 22, 2025 2:26am
Got onto todays long trade too late. Made +7
  • #10,044
  • Jan 22, 2025 11:46pm Jan 22, 2025 11:46pm
Daily looks ready to continue lower. Only H4 EMA in the way for now.
  • #10,045
  • Jan 23, 2025 12:06am Jan 23, 2025 12:06am
Quoting Fantaburk
Daily looks ready to continue lower. Only H4 EMA in the way for now.
Nice going. Shorting it already
  • #10,046
  • Edited 1:38am Jan 23, 2025 12:27am | Edited 1:38am
Quoting 40PipsAlan
{quote} Nice going. Shorting it already
Joining on a punt.

Stopped out.
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  • #10,047
  • Edited 4:29am Jan 23, 2025 3:05am | Edited 4:29am
Let's see if m15 is more kind, bouncing of H1 swinglevel + bear support.

Bingo. Not the Div that made the price move but a bearish HD saved the day. Correct ZOO-level none the less.
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  • #10,048
  • Jan 27, 2025 3:00am Jan 27, 2025 3:00am
H1 Showing Bull divergence at our trading time today.
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Jumped on the M5 and put a tester buy trade on which kicked me out for 3 pips. Went in again and managed to get +32 this time round. Just short of my 40 pip target. Till tomorrow.
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  • #10,049
  • Jan 27, 2025 9:33pm Jan 27, 2025 9:33pm
Been setting up a brand-new PC system during this hot weather spell so I have been a tad absent.

Only got one monitor running at the moment but just about managing.

This is the plotting I have for the 1-hour chart = an ABCD followed by an AB=CD. Nice to have the two side by side to show you all the difference.
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  • #10,050
  • Jan 28, 2025 12:15am Jan 28, 2025 12:15am
Today I don't see any trades of a meaningful value so sitting on hands once again.
  • #10,051
  • Jan 28, 2025 12:19am Jan 28, 2025 12:19am
Quoting Nala66
Today I don't see any trades of a meaningful value so sitting on hands once again.
Same here. Daily looking for Bull support so could go either way. H1 showing bull divergence.
  • #10,052
  • Jan 28, 2025 7:12am Jan 28, 2025 7:12am
Quoting 40PipsAlan
{quote} Same here. Daily looking for Bull support so could go either way. H1 showing bull divergence.
I meant to mention the 4 hour has a bear div suggesting a return to the EMA. Too late now as it has now done that.
  • #10,053
  • Jan 29, 2025 3:22am Jan 29, 2025 3:22am
My only trade so far this week. A scalp towards H1 Ema after a two bar test around D-level, together with m5 bull divs at swing level.
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  • #10,054
  • Jan 29, 2025 10:07pm Jan 29, 2025 10:07pm
Quoting Fantaburk
My only trade so far this week. A scalp towards H1 Ema after a two bar test around D-level, together with m5 bull divs at swing level. {image}
Hope you turned the scalp into a trade and made big bucks
  • #10,055
  • Jan 29, 2025 11:45pm Jan 29, 2025 11:45pm
Quoting Nala66
{quote} Hope you turned the scalp into a trade and made big bucks
I most certainly did not. Was stopped out an hour before the real turn.
  • #10,056
  • Jan 30, 2025 12:07am Jan 30, 2025 12:07am
Quoting Fantaburk
{quote} I most certainly did not. Was stopped out an hour before the real turn.
I don't understand how on earth you can be stopped out.

The target was 58 pips...
The stop was 29 pips...

This is for a 1% loss v's a 2% win
You could risk 2% for a 4% win if you wish.

It was not even close to a stop out.
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  • #10,057
  • Jan 30, 2025 12:23am Jan 30, 2025 12:23am
Here is another example currently in play...
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It is important not to crowd your trade by putting the stop to close. Once we get it to BE+1 we can turn off the PC and check the result later in the day.

Sometimes we win sometimes we lose and some are just BE's
  • #10,058
  • Jan 30, 2025 12:42am Jan 30, 2025 12:42am
Hopefully this is the HOOK forming to retest the bull div on the 5 min.

This is why we move the stop to BE+1 because the test may be successful, and we don't want to be caught with our pants down.

If the price does turn back up and makes the HH then we can start to lock in some profit.
  • #10,059
  • Jan 30, 2025 2:39am Jan 30, 2025 2:39am
Quoting Nala66
{quote} I don't understand how on earth you can be stopped out. The target was 58 pips... The stop was 29 pips... This is for a 1% loss v's a 2% win You could risk 2% for a 4% win if you wish. It was not even close to a stop out. {image}
Yes unfortunately I was in the divs prior to that one. about 3 hours before.
  • #10,060
  • Jan 30, 2025 2:53am Jan 30, 2025 2:53am
I do however agree with not using the correct stop-size, from not really following "test the opposite side". Shall start thinking bigger picture from now.
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