Fair enough! I suppose the next logical signal to enter was the bull support above the 26 EMA? Edit: Actually, I believe there was hidden divergence created by the hook! Cheers

Trading the Cable swings via averages

Hi Alan, for my own learning, can I ask please why you didn't enter on the 5 min bull div? Cheers

Trading the Cable swings via averages

Did you get stopped out when the hook came back down to break-even? Cheers

Trading the Cable swings via averages

Brilliant, thank you Alan, and thank you for continuing to post clear and helpful charts Cheers

Trading the Cable swings via averages

Hi Alan, how did you approach trading yesterday's downward move after the designated start time? Cheers

Trading the Cable swings via averages

Indeed, I just would've expected to see the failure happen as resistance at either the 50 or 100% levels. I do, however, note the 50% level acted as support. Cheers

Trading the Cable swings via averages

Hi Alan, it's interesting that price turned around in between the upper 50% and 100% ABCD levels. In other words, it passed the 50% level but never made it the full distance. Is that unusual? Question: Was the H1 inference bearish because of the ...

Trading the Cable swings via averages

Yes, you could probably trade those patterns with your eyes closed

Trading the Cable swings via averages

Alan, was it custom made like your hidden divergence indicator (which is brilliant), or did you simply find it somewhere on the internet? All of the divergence indicators I've seen connect bar highs/lows and not the closes. I've also never seen one ...

Trading the Cable swings via averages

Just curious... Has anyone come across a helpful RSI divergence indicator that gives signals according to bar closes (not highs/lows)? Even better would be one which also showed divergences between the fast and slow RSIs. Cheers

Trading the Cable swings via averages

Luckyvictor, point A is always the next pivot being "attacked", as Alan would say, or approached by point C. Point C can be a pivot in the 1SMA, or it can simply be a bar close. The 1SMA is used to clearly show the pivots in price, like a line ...

Trading the Cable swings via averages

Alan, could you please explain this chart a bit further? I'm not sure I've seen you post on this before. It looks like you use a trendline on the RSI to establish a target for price? Cheers

Trading the Cable swings via averages

No worries, thanks Alan. Perhaps you drew the triangle on a different timeframe, so it looks odd when viewed on H4.

Trading the Cable swings via averages

Alan, regarding the third (smallest) triangle, what exactly is the C point? It doesn't seem to be a pivot or the close of the bar, and I don't think there was a con div on the RSI at that point? Cheers

Trading the Cable swings via averages

It's scary how accurate that pattern is... You could easily specialise in trading only ABCDs and do very nicely indeed.

Trading the Cable swings via averages

Alan, that was a really helpful breakdown of the trade for me, particularly the following: "At B there was no indication or signal to go long so we just hold." I had been wondering what we do when the market is moving against our position but there ...

Trading the Cable swings via averages

Excellent, thanks very much for your chart and explanation too. So helpful!

Trading the Cable swings via averages

Thanks fxmars, good trading. Did you keep all stops at BE+1 while price moved from B to C? I'm trying to better understand stop placements. Rightly or wrongly, I would've moved my stops to above the wick of the bar after the bear impulse bar, so C ...

Trading the Cable swings via averages

Alan, on the left triangle, could point C also be one pivot higher? It would still be 'attacking' A? Cheers

Trading the Cable swings via averages