Trading the Cable swings via averages

That was due to the oil price. As the oil price drops opposites of the USD rise.

We cannot predict this because it can happen at any time.

You will also find it affects Gold also.

Well, what a night that turned out to be. However, I cannot predict the future I simply trade the current now story. In this case I got two early trades and quit for the day. Looking at the activity overnight I have plotted what I would have done if I was not snoring peacefully.

Below I have the 15-min, 4-hour and the 1-hour in an attempt to show you some of my plotting methods. I also plot the 5-min but to save space have not shown it here.

The couloured boxes represent my 40 pip targets and as can clearly be seen there was a lot of opportunity, but I like to sleep occasionally.


Most of my time is spent tracking the RSI looking for the breaks and div signals. Signs on the 4-hour trickle down to the lower time frames. The lower time frames show where the likely pull backs are so we can get out and get back in accordingly. It is not rocket science.

These are by no means all the lines I apply, I remove them as they play out. I am so used to the 40-pip target it has become a positive habit, but I am always ready to close if a counter signal crops up. This is a lot of work and concentration which is why I don't like trading for long periods of time, tomorrow is another day of rinse and repeat.

Thanks

Hi Alan master,
By combining the divergence between RSI and the movement of EMA26 to find high-low swing points, I use Fibonacci values on the chart to select a potential entry point. Usually, the stop loss will be below that key Fibonacci level. The take profit (TP) depends on market strength, usually higher than a cluster of key Fibonacci levels, or even further, reaching the high-low swing point of EMA26 to take profit.

Not much action today. Very sluggish.

Well that took forever to move +72

And then back up for another +24

And back down again +12

Bit busy today but got a sell trade in for +20. Pending short order got activated and I closed out on a price pull back.

Go on then. Lets get a cheeky +42 to end the day.

Is there anyone working on expert advisor specifically for gold?

Appreciate if you would show your chart´s TF brother. Is it a week chart or a M1 chart?
Thanks in advance.

Apologies my friend. M15 trading with a H1 overview.

GRACIAS!!

Oil down pound up, duh!

Pending Buy trade at the ready bossman. +50

Lets go again for +70.
Divergence on the H1 at a previous EMA level

Gee this has really flatlined at your exit position.

This thing is flatter than a very flat thing. Calling it for the week
Nearly +200 pips for the week so very happy with that.

You know what they say... Flattery will get us nowhere.