Title Cable (Autosaved).docx ✅

1. #2,3,4,5 This is the first of the 5 minute chart setups. We want a plain old black and white chart because it prints well to make a hard copy record of the events. We can put the date on them and keep them in a folder as a permanent record we can easily access whenever. So we set the properties of a 5 minute GBP/USD like this... If you have done this correctly you should now have a completely white chart with only the current price line showing. Next we are going to add the average which is a 26 period EMA as a double thickness black line So open the navigator select Moving Averages and set the parameters like this... So far so good you should have the same as this...
Now this next bit is not really needed but I find it helps until you get use to watching multiple charts and some people are using small screens such as laptops so this additional info helps see the picture. We are going to add both the current high and low prices and put them on a shade or two lighter such as dark grey. Price itself is an average but it is a 1 period simple moving average (SMA) Putting two of these on the chart one set to the high and the other set to the low we will get the current distances of the bar movements tops and bottoms. So set the SMA parameters thus... Noting the line thickness is the thinnest and one is set to high and the other is set to low. That is all we need to do to set up this 5 min chart. It should be nice and clear, free from clutter and instantly easy to read the direction. Looking like this...
2. #24,26 Ok so yesterday we set up the white background 5 min chart and normally that is all I have on that chart. However I have 4 23 inch monitors so I can spread myself out a bit, I know some use laptops with smaller screens so for now I am going to add a little more to cater for those folks. This involves the timing of the trade, the approximate time I start work and I call it Bar 108. Switch on your Period Separator and measure 108 bars from it with the rectangle tool. Copy the rectangle and place the copy at the next Period Separator. Now using the Cycle line tool span the two rectangles to give you lines that will continue into the future forever. On the chart below I have used bold black so you can see them clearly, normally I would have them just as a light coloured (grey) dotted line just like the Period Separator ones. As you should be able to see, this is a good time to begin trading, approximately. Once done you can turn off the Period Separator Lines as they are no longer required. So you should have this ...
Now on this chart I mark the swing highs and lows with a line and just for your benefit I have put a few X's where the price exhausted itself. I know you cannot see this exhaustion as yet because we haven't setup the other charts but still you can make some observations even on this chart alone. I will go into detail of these observations later, for now just continue with the setups. Note how you can barely see my cycle lines now. 3. #27,28,29,30