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Objective Thinking And Trading

Here is another 5 min example where price hit the D level this time. image The Blue Quartile was dragged to the Black Quartile position at C.

Trading the Cable swings via averages

Drag the Quartile so that its bottom line is at the B level. Then select the Quartile and from its top line drag it up so the middle (50%) moves to the A level. You now have the A to B distance. Now drag the whole thing so the middle is on the C ...

Trading the Cable swings via averages

This is done by converting the Fib to a Quartile tool. In other words, instead of Fib numbers I divide 0 to 100 into four segments. I also add the %$ in the description to give me the prices at the respective levels. Like this... image The Fib ...

Trading the Cable swings via averages

This means the bear support has failed and may become the opposite i.e. a bull support.

Trading the Cable swings via averages

If looking for additional ZOO points don't forget to check the fast RSI against the slow one. When the fast fails to cross the slow look to trade this on the lower time frame. They look like this... image Use your common sense for your target ...

Trading the Cable swings via averages

The 4hour had been dithering about the C level for some time trying to break long, but the bears said no way and took it down to the D1 level despite the news. This was also an average swing low level which it has now hit twice.

Trading the Cable swings via averages

You betcha it is. I must have looked at thousands of charts trying to figure why it stops or moves from one place to another.

Trading the Cable swings via averages

The post I made (9,155) of the 4 hour chart has hit the target making a divergence of the RSI type. Bouncing back way past 100 pips. So see how the average swing low was a great ZOO point because they are few and far between on the 4 hour time frame ...

Trading the Cable swings via averages

The EMA is a ZOO point, the divergence is a ZOO point. image And there is a well defined swing low target.

Trading the Cable swings via averages

Best to always include the previous swing highs and lows on the chart to plot the potential targets....thus

Trading the Cable swings via averages

Gee whiz I can barely remember what I did yesterday let alone 4 months ago. What PROBABLY happened was that I moved my stop too early causing the stop out. Then I would have got back in at the top of that spike because it was the average swing high ...

Trading the Cable swings via averages

Sometimes it takes a while hey!

Trading the Cable swings via averages

I should have thought this was a simple thing to understand by now. Consider the chart below... image Look how many opportunities there are to add to the long position whilst incrementally moving the stop accordingly. The 1% risk was never even ...

Trading the Cable swings via averages

No, the aim is to make minimum 2% profit with a maximum 1% risk. So, if the target is 50 pips and 2% the risk is 25pips and 1%. If the target is 20 pips and 2% the risk is 10 pips and 1%. These two targets yield the same result but with the larger ...

Trading the Cable swings via averages

The last couple of ABCD's met the D1 almost at the same time. image It looks like you missed the last one .

Trading the Cable swings via averages

[quote=Dienie;14493299] This is my 5 minute template. If you have all the parts it should work for you.

Trading the Cable swings via averages

Finally the 4 hour has hit D.

Trading the Cable swings via averages

[quote=Dienie;14493299] Yes MT4

Trading the Cable swings via averages

Well so far the bears have stopped the average making a HH but can they roll it over?

Trading the Cable swings via averages