Trading the Cable swings via averages

Quoting Mike3000

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{quote} I noticed a bullish hidden divergence at bar 109 on the 5min chart but EMA swing targets were quite close at ~19 and 28 pips so stayed out. Alan, if targets are this close on the 5 min do you still enter and ignore these if you believe that price will make your 4H HH target that you mentioned earlier, to get 40 pips? {image}

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Quoting Nala66

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{quote} There was a good 40 pips in the move so why not... {image} Notice how it was in bear div once it reached the 1-hour average swing high.

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Quoting Mike3000

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{quote} Thanks Alan, so the lower ema swing targets on the 5min should just be regarded as hurdles on the way to a target that we select at about 40 or more pips because the likelihood of hitting the 4H HH (which was more than 40 pips away) is relatively high? As for the 4H, you were spot on again Alan as it did make the HH and has done so in divergence {image}

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Quoting mayflower

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Anybody on this?{image}

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Quoting mayflower

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Well, I thought I'd drawn the set up correctly, just as you have shown numerous times in your earlier posts. Having done it that way, it has now hit my target so I don't really understand when you say I have drawn it incorrectly. You used to prepare a set-up by drawing an ABC=D triangle from closed candles (bars) shown by your blue triangle in post 10,418 yesterday. However, you seem to have changed that in post 10,429 today by now measuring from bar wicks instead of the bar close. It's hard to keep up and all very confusing. {image}

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Quoting mayflower

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Well, I thought I'd drawn the set up correctly, just as you have shown numerous times in your earlier posts. Having done it that way, it has now hit my target so I don't really understand when you say I have drawn it incorrectly. You used to prepare a set-up by drawing an ABC=D triangle from closed candles (bars) shown by your blue triangle in post 10,418 yesterday. However, you seem to have changed that in post 10,429 today by now measuring from bar wicks instead of the bar close. It's hard to keep up and all very confusing. {image}

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Quoting eliotjng

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Hi Alan, today i try short GBPJPY and take a big loss here. Using your top down approach Yesterday H4 push price down to EMA, today price stay under EMA H4 H1 DIV bull and take price back to EMA. At our trade time, H1 RIS fast is above 80 for long time Similar, M15 and M30 RSI fast is also above 80, M15 have bull support but M30 -H1 is not. I take short when i see M5 form a RSI DIV bear at EMA H1 and i take big loss here. Even it go new level, i think try to come to H4 EMA and later will form bear support here. BUT it just keep go up. {image} I...

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Quoting Nala66

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{quote} First off, I don't trade this pair just the GBP/USD. Second a ZOO point is only where we expect something to happen. We need to drop to our lower time frames to look for signals of direction and entry. Thirdly the yen is well known for its volatile reactions, referred to as riding the dragon. Fourthly taking a big loss is simply a matter of money management. If you don't apply stops in the correct place to limit losses in respect of potential profits, then you MM is out of whack. (As is most peoples)

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Quoting Mike3000

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{quote} Hi Mayflower, I think Alan was talking about the wedge triangles that he has introduced to us relatively recently, and not the ABCDs when responding to your query. Thanks Mike. Could you point me to the posts where Alan introduced the wedge triangle method recently? Thanks.

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