Trading the Cable swings via averages

Lets call it a 3 trade day.
First one +16 up to the H1 EMA last swing high.
Back again for +10 down to the EMA
Pushed down thru the EMA where my pending was sitting and down for another +20. that will do me today.

hi dear can you share indicators please

My indicators are irrelevant for trading this strategy and its just me playing with MQL4 coding to pass the day. All indicators use historic data and as such cannot inform you of the pairs future direction. My advice is to read the thread from page 1 and identify the ZOO possible turning points. You then need the target price to determine if the trade is worth risking your 1-2% like the previous EMA swing high/low
From there you need you entry point like M5 showing divergence on the H1 ZOO and then you can put a trade on.
If the pair doesn't go in your expected direction close the trade for a small loss and try again. More volatility at LO increases your chances of getting to BE and then wait for target to hit. Look at the H1 charts and you will see price retesting the previous EMA swing time and time again. If it fails then expect a HH or LL so you can trade your way out and recover your losses.
The hardest part is spotting the divergence fast enough.
That said it was probably a very lucky day for me, being online at the right time helps.

Maybe this M15 chart can help you out. My LO bias was short to start with based on the M15 divergence = crash the EMA and go down to my target.
But no, M5 says a HH is on the cards finding bull support so my higher target is now on which it hits. M5 divergence then suggests a move down to retest the last EMA swing which it does. Then more M5 divergence suggest a move up so I close my short and wait to see what happens putting a pending short below the M5 EMA swing in case it decide to keep going down to my original target. Doesn't quite make it before some bullish divergence to close the trade for enough daily pips.

Which way will it break? Keeping an eye on how this wedge (shown as red trendlines) on the 4H chart evolves. Bears failing at the moment to remain below the EMA after a HD at yesterday's 12h00 bar.

Got my pip count wrong for TP forgot the spread. +38
What Can I do for the rest of today?

Here you go Mike. Again hit to the pip. Unfortunately I only took a few pips short, not the full quota. Alan used to teach drawing lines to connect pivots above and below the RSI.

Well done that man...

There was a very nice wedge target on the 15-min chart with a bonus...

Just checking the charts and it seems the 1-hour had the best outcome...

The 4-hour had a nice ABCD hit on D1.


I'll check the wedge here next...

Mm this chart (4H) has a larger target but I wouldn't hold my breath this long...

I see this morning that the 4-Hour got back inside the triangle and so cancels it.

Took a punt long today at LO. This quickly hit SL for -20.
Had a pending short just under the EMA which got hit and price went down to retest the last H1 swing low. Closed out on divergence for +12 with another buy trade to take me up to the H1 EMA for +26. Till tomorrow

Earlier we had an ABCD which hit the D1 on the 15-min chart.

Now we have had a bull breakout of the wedge (Below) which has also hit its target.



These 15-min wedges are great trades with clear targets and small stops (back inside)

Thanks Alan, looks very interesting. When trading these would you enter on the close of the breakout bar or just as soon as price breaks the trendline?

A good question.

We always know the target distance i.e. A to b or B to a x1.5 so we can apply our MM to these figures.

Method 1) Using the Quartile tool it is 3 units of the A to b. We could place our pending order at the first of these units giving us a 1:2 risk reward.

Method 2) Using the multiple entry method. We could enter a smaller lot size if we suspect the breakout with a stop on the opposite side. If we have picked it correctly and the breakout happens, we can add to our trade to make up our desired profit. We have to adjust our stop to limit the loss so would then put it just inside the wedge.

Method 3) We could enter our full lot size just as it breaks going for the full three units of the Quartile with the stop just back inside the wedge. (My preferred method)

You can see from any of the methods the reward is always greater than the risk and we can always compound the rewards with additional entries when safe to do so.

Below are some more examples for consideration. There is more going on here, I am trying to keep the charts clean for clarity.


Hope this helps.

What shall we do now?
+46

Nice one...


What was the target because it seems a strange place to close?

Enough to get +40 bossman. Get out and go fishing

You are not allowed to go fishing; you should be working to pay taxes so I can go fishing