Vikinsa's Confluence Trading Strategy

Vikinsa's Confluence Trading Strategy

All trades, systems, strategies are for my personal use only. I do not intend to give any kind of investment or financial advice of any sort. I use this thread only to log my analysis, planning, execution and results of trades. If you seek any value out of my posts, you are most welcome but please do so only educational purposes.

https://www.tradingview.com/u/vikinsa/

My Strategy Discussion: https://www.forexfactory.com/showthread.php?p=12678892

AUDUSD Trade Analysis Journal: https://www.forexfactory.com/showthread.php?t=970850
EURUSD Trade Analysis Journal: https://www.forexfactory.com/showthread.php?t=970846
GBPUSD Trade Analysis Journal: https://www.forexfactory.com/showthread.php?t=970847
USDCAD Trade Analysis Journal: https://www.forexfactory.com/showthread.php?t=970851
USDJPY Trade Analysis Journal: https://www.forexfactory.com/showthread.php?t=970848
GOLD Trade Analysis Journal: https://www.metalsmine.com/showthread.php?t=971472

My Strategy and Tools For Successful Trading (Version 3.1): (Part-1)

In past 8 years of ups and downs of trading 3 biggest things that I have learnt are:

 

1. Mindset Management
2. Method
3. Money Management

Each of these can be broken down into multiple factors and sub-skills but one thing that stays at the top of all is: Consistency

No matter where a trader starts, they must go through the full journey for self-discovery. I have gone through my own. Jumping from strategy to strategy and from indicators to indicators; I have done it all too. I have seen my own mindset ups and downs and the journey has taught me more about myself than trading. So it has been completely worth it. Each trader must go through the journey of finding, adopting and developing their own way of trading and stay consistent with it no matter what. Rest of the things i.e. indicators, systems, templates and whatnot don't matter as much. Be good in one way of doing things and then only try something else. Chances are that you probably won't have to. I developed my skill and comfort in my way of trading and I have now stuck myself with it.

My strategy is simply "Confluence" based trading.
As trading all about probability, more odds you have in your favor better are your chances of a win/profit.
Confluence Trading is way of trading where you analyse a market from multiple time frames with most commonly used indicators or studies to stack odds in your favor. You are looking for a Zone where most studies are indicating a possible reversal. This zone can now be used for either Reversal Trading (starting a new position) or Trend Trading (taking profits, adding to positions).

Here are the tools that I use from Technical Analysis point of view for Confluence Trading:

1. Price structure (W,M Patterns)
2. Fibonacci (Retracements and Extensions and their combinations)
e.g. 50.0, 88.6, 161.8, 127.2. Combination of 88.6 and 161.8 is one of the most powerful one.
3. Moving Averages (200, 10 and few my own)
4. Bollinger Bands (20 Default)
5. Trend Lines (Not much so)
6. Major Round Number e.g 1.23000 and Market Maker round numbers e.g. 1.23800 and 1.23200
7. 4H Pivots for accurate entry and exit.
8. Few of my own indicators for Trend Assessment and Price Levels (For best accuracy to give best R:R)
9. My own study of Candle Stick Patterns
e.g. 3 Bull Candles placed like these are always followed by a bear candle. Same is true for Bear candles.
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Time Frames:
1. Monthly (Over all picture. A minor move here can give us hundreds of PIPs)
2. Weekly (This tells me about an opportunity)
3. Daily (I watch here for development/confirmation of the opportunity)
4. 4H (For accurate entries with confluences of round numbers, swing levels and pivots)
5. 1H (accurate entry and exit to minimise risk and have better R:R)

No matter what Indicator I use, the price action and structure always come first. Price structure (W/M Patterns, Fibonacci and Bollinger Bands) are mostly enough to generate a great prediction if we do top down analysis. I always analyse with price structure and Fibonacci first and then I start to see if there any other things that can create a reversal. I simply call them as Barriers for simplicity.

For example (see the chart below): EURUSD has been going up and reached a point where I see:

1. Candle stick pattern (as in chart above)
2. Round number 1.11500
3. 4H Pivot (Dotted Red Line)
4. 4H 261.8 Fibonacci Level (Dashed Maroon Line)

These 4 barriers are nearly enough for me to see that uptrend can either take a pause here or reverse. So I can either exit/cut-short my Long position or start a new Short Position or do both. I can also use these levels for my stop loss or limit orders. That is their power and best thing is that most of these barriers are there on higher time frames so we can plan them in advance. This gives us a bit of predictive power.
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TBC...

In these videos, I explain I use Fibonacci confluences along with trend lines and moving averages. In GBPUSD I explain how I anticipated huge move upwards and back down which gave me over 800 PIPs in a month or so. My analysis of GBPUSD is recorded here at TradingView where I planned and posted it.

https://www.tradingview.com/chart/GB...ort-Positions/



GBPUSD:



EURUSD:

Trading Consolidation Profitably In Forex Markets With Fibonacci and Harmonic Patterns (A Fibonacci Confluence Tutorial)

Hi Traders,

In this videos we look at how to trade consolidation periods profitable using fibonacci and harmonic patterns. Apart from using support and resistance, trend lines and channels, we can use the power of fibonacci ratios. Best thing about fibonacci ratios is that we can pre-define targets or make a fairly accurate prediction about market's move. We can can quantify trades in advance. Fibonacci is one the main tools that I use in my confluence trading. Fibonacci is the first tool that pick to start my analysis.

Feel free to post your comments or ask questions. Sorry I ran out of time so I will create another part. If you find this useful please Give it a like and share with fellow traders.
Like, Share and Comment.

https://www.tradingview.com/chart/US...ith-Fibonacci/

Thanks

How To Plan Plan A Trade With Fibonacci Ratio Confluence - Tutorial With Example

Hi Traders, In this video we will look at How To Plan Plan A Trade With Fibonacci Ratio Confluence. Fibonacci ratios are most powerful tools with they are used in right manner. We can use them in all sorts of market conditions and asset classes. Fibonacci confluence creates harmonic patterns and gives us very good reward risk ratio. The best thing is the possibility to pre-plan and quantify a trade with high accuracy. Please feel free to comment or ask questions. Hit the like button if you found value in this post. Thanks!

https://www.tradingview.com/chart/US...io-Confluence/



Hi Traders, In this video we will look at How To Plan Plan A Trade With Fibonacci Ratio Confluence. Fibonacci ratios are most powerful tools with they are used in right manner. We can use them in all sorts of market conditions and asset classes. Fibonacci confluence creates harmonic patterns and gives us very good reward risk ratio. The best thing is the possibility to pre-plan and quantify a trade with high accuracy. Please feel free to comment or ask questions. Hit the like button if you found value in this post. Thanks!

GBPUSD has been consolidating and creating harmonic patterns and Fibonacci confluences. Trading consolidation does not have to be boring. All we need is the just the knowledge of Fibonacci ratios and harmonic patterns.

Hello Traders, as a token of my appreciation for your support, I present a complete in depth Cypher Pattern tutorial to you. Usually traders are ignorant of few very important Fibonacci tips and tricks related to this very profitable pattern, I have included all of them based on my own trading experience.

I walk you through the best Reward/Risk possible scenarios and a live trading example of AUDUSD which is currently running in profit. Enjoy! Please hit the like button, share this video and subscribe for more such videos. Thanks.

Hello ,

May you share your indicator you use for support/Resistance ?

Hi, I don't use any indicator for support and resistance when analysing manually. I use few indicators later on to enter the market at low R:R. But for analysis I don't use any indicator as you can see from my videos. I mostly use Bollinger Band, Moving average and Fibonacci maximum. Hope this answers your question.

My library of tutorials:

https://www.youtube.com/playlist?lis...z_KqMDriQCe_Ec

A Very Simple & Accurate Day Trading Strategy With Bollinger Bands:

Trading Extreme Prices With Bollinger Bands & RSI - Simple, Rare and Powerful Strategy:

My strategy is very simple. It basically involves knowing few numbers, drawing a line and a rectangle. Fibonacci based confluence trading strategy is rarely used by retail traders as they do not have complete understanding of it. They are usually exposed to only parts of it. It is very simple and easy as long as you know what you are doing. It can be used on SwingTrading, DayTrading and Position Trading.

This is my technical analysis of S&P 500. It is showing a predictable pattern.

https://www.tradingview.com/chart/SP...tch-Recession/

Markets are always moving in predictable harmonic patterns along with confluences. The problem is that most traders do not know what to look for. They are too focused on either short term charts/movements or indicators. Markets are giving clues about their next move constantly but we as traders must be able to learn to read them. This analysis of DAX should show you how predictably a market moves and how we can read it with simple confluences of few basic indicators and patterns along with Fibonacci ratios. Hit the like button and subscribe to channel if you have not done so already.

Like Athletes, We Traders Win In Our Practice Sessions. We Then show up in the markets and do what we do the best i.e. trading to draw profits. I encourage you to practice every day and whenever you can. #TrainYourBrain Let me take you on a practice session where I am doing one of my practice sessions. I am practising #priceaction #fibonacciconfluence #WMPatterns #harmonicpatterns and #advancedpatterns. I will try to keep you motivated during this journey. Stick with me. This is on #USDCAD chart if you want to do this along with me.