There were 20 pips easy at the open time.

Trading the Cable swings via averages

On the hourly we see we hit that average swing high with price and the current average is trying for a HH. image Time to knock off. Catch ya Monday maybe.

Trading the Cable swings via averages

Glad I got paid on that else it would have stopped me out before going massively my way. I noted the spread jumped to 10.4 phew!

Trading the Cable swings via averages

Bingo, I got it.

Trading the Cable swings via averages

Hoping this one will hit before NFP but if it doesn't, I have moved to stop to BE+ in case the spread widens at NFP time. image

Trading the Cable swings via averages

This is the sort of analysis to make for a trade for a winning risk reward... image

Trading the Cable swings via averages

Then there is the opposite point of view for an attempt on those HH averages... image Very hard to predict those long-term events.

Trading the Cable swings via averages

And another one bites the dust.. image

Trading the Cable swings via averages

Well done for holding that red ABCD for so long. It came back to fail the retest of C and still you hung in there until it hit the D1 target.

Trading the Cable swings via averages

That is why I don't trade it; I like to sleep nights. Plenty of work for me using the hourly. image Then dropping to the 5 min provides plenty of trades.

Trading the Cable swings via averages

Not sure what you are asking here. Can you show a chart to help with the explanation. Thanks

Trading the Cable swings via averages

In the big scheme of things, the daily has barely made much of a pull back.

Trading the Cable swings via averages

If we want to look at the daily, then I suggest looking at the monthly where we are seeing a strong push for that average. image Nearly the end of the month now.

Trading the Cable swings via averages

Currently looks like a holding pattern to me, allowing the 4-hour average to continue to make HH's. By the way it is a long way to the next HH 1.367 or so. Expect to see plenty of pull backs before that happens.

Trading the Cable swings via averages

Well, we made that weekly target easily... image How can it be possible to plan these events a year in advance? I never cease to be amazed.

Trading the Cable swings via averages

The 4 hour is going for the average HH. The concept of trading is simple... image I keep reading stuff about candle formations, support and resistance levels, supply and demand. The list goes on and on, it is all a load of rubbish.

Trading the Cable swings via averages

Yep, sorry I forgot to mention that hey! image Glad someone is on the ball.

Trading the Cable swings via averages

We have made an exact hit on the daily for the ABCD. Now I am at a loss to the next destination so I will have to sit and wait for the construct. image Price has hit the target in a bear div. The average has made the HH so I would be expecting ...

Trading the Cable swings via averages

Surprised nobody called me out on this one I forgot! A fourth thing to consider with divergences is a swing will often start and end with one. This means we can get the extreme high down to the extreme low of a move. 4) A bear div often ends with a ...

Trading the Cable swings via averages

Who the heck are those you are referring to. If you cannot read the charts, then why not just say so instead of using abusive language as a cop out.

Cable Update (GBPUSD)