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Weekly Pivot trading with TDI

  • #1,981
  • Aug 21, 2018 7:21am Aug 21, 2018 7:21am
Quoting RonFXLive
{quote} Very nice layout. 95.50 is Crucial support and more likely it will bounce back up or break below to next support 95.00? Make or break will be very much depending on FOMC tomorrow. Let’s watch this level for DXY ( Dollar Index )
And you believe 95.50 is crucial support because ? the index likes round numbers ? As i can't see a horizontal support on this on the daily chart or am i missing something?
Attached Image (click to enlarge)
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  • #1,982
  • Aug 21, 2018 7:21am Aug 21, 2018 7:21am
My trades for this week.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: DFFD98E0-A746-49CE-85A1-082A558A4819.png Size: 542 KB
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  • #1,983
  • Aug 21, 2018 7:24am Aug 21, 2018 7:24am
Quoting skippyone
{quote} And you believe 95.50 is crucial support because ? the index likes round numbers ? As i can't see a horizontal support on this on the daily chart or am i missing something? {image}

Hi buddy, it’s somewhere below S100 and yes I prefer to use round numbers and is easy to keep track for myself.

Because price was hovering around that level trying to break or bounce back up from that support.

Same goes to my TP I will always like to round off numbers. Easier to keep track as well.
  • #1,984
  • Aug 21, 2018 7:24am Aug 21, 2018 7:24am
Quoting RonFXLive
My trades for this week. {image} {image}
Impressive result. And your trading from the mobile phone?

Regards

Paal
  • #1,985
  • Edited 7:40am Aug 21, 2018 7:26am | Edited 7:40am
Quoting kirinda
{quote} Impressive result. And your trading from the mobile phone? Regards Paal

Yes i’m using Mt4 in mobile to see and monitor my trades. But I will trade from my computer desk before I go out. Otherwise it’s hard for me to trade from mobile.

Thanks buddy.
  • #1,986
  • Aug 21, 2018 7:30am Aug 21, 2018 7:30am
Quoting Neil0163
EU- look how it is rejecting R100 and TDI is starting to turn 4 hour chart (previous Support becomes resistance) also ties in well with 61.8 fib retracement ok whats going against my trade. Price made a Higher High Higher low which is sign of trend reversal, Look at Daily though it looks like a pull back, look at the weekly Key support has been broke price now pulls back to test that broken area. You will always have things to go against you in a trade all you can do is see if the pros outway the cons and take the trade as long as you stuck to your...

Thanks Neil, I think also that a 200EMA on Daily is already indicating a pull back with the rejecting at R100 and TDI turning on 4HR. I already took two positions for sell and would continue until price gets to the Weekly pivot.
  • #1,987
  • Aug 21, 2018 7:33am Aug 21, 2018 7:33am
Quoting babarapho
{quote} Thanks Neil, I think also that a 200EMA on Daily is already indicating a pull back with the rejecting at R100 and TDI turning on 4HR. I already took two positions for sell and would continue until price gets to the Weekly pivot.

Hi Babarapho,

Just my advice.

You can use moving average for a guide to know the trend but can’t really use it for entry. It’s too late for entry and price will always come first then any moving average.

Hope that helps you.
  • #1,988
  • Aug 21, 2018 7:33am Aug 21, 2018 7:33am
Attached Image
  • #1,989
  • Aug 21, 2018 7:43am Aug 21, 2018 7:43am
Quoting RonFXLive
{quote} Hi Babarapho, Just my advice. You can use moving average for a guide to know the trend but can’t really use it for entry. It’s too late for entry and price will always come first then any moving average. Hope that helps you.

Yes you are correct. PA is still perfect for entry purposes.
  • #1,990
  • Aug 21, 2018 7:43am Aug 21, 2018 7:43am
Quoting RonFXLive
{quote} Hi Babarapho, Just my advice. You can use moving average for a guide to know the trend but can’t really use it for entry. It’s too late for entry and price will always come first then any moving average. Hope that helps you.
Every indicator is a lagging indicator - even the TDI. Price action around Fib weekly levels is really what we are trading on this thread. I think Neil and Davit have mentioned this many times that TDI can be used to confirm the trade ( Or give you greater confidence / confluence of your entry )
  • #1,991
  • Aug 21, 2018 7:44am Aug 21, 2018 7:44am
Quoting RonFXLive
My trades for this week. {image} {image}
Hi, nice gain. yet u sold EU @R-zone, am curious about ur long!!! i think u had diff thought abt it!!!
  • #1,992
  • Aug 21, 2018 7:45am Aug 21, 2018 7:45am
Quoting RonFXLive
My trades for this week. {image} {image}
Ron,

Your Risk beats my imagination. You must really be confident of your trades and good equity too.

Do you use SL ?
  • #1,993
  • Aug 21, 2018 7:46am Aug 21, 2018 7:46am
Quoting babarapho
{quote} Yes you are correct. PA is still perfect for entry purposes.

Yes you’re right buddy. It will misled you if you doesn’t know how to use it..

PA still the right choice to blend with Davit’s Pivot System.

Cheers.
Ron.
  • #1,994
  • Aug 21, 2018 7:47am Aug 21, 2018 7:47am
Quoting babarapho
{quote} Ron, Your Risk beats my imagination. You must really be confident of your trades and good equity too. Do you use SL ?

I use equity SL like Davit does.
  • #1,995
  • Aug 21, 2018 7:48am Aug 21, 2018 7:48am
Hope you all realize that :
EURUSD
AUDUSD
NZDUSD
GBPUSD
are close to 100% correlated on the Hour chart

almost 100% negatively correlated to the ones above:
USDCAD
USDCHF
Meaning: if you are invested on the first 4 at the same time, you are basically multiplying your risk or profit chances by 4.(provided you trade the H chart on all of them.
My 2 cnts worth.
https://www.mataf.net/en/forex/tools/correlation
And last but not least:
in my experience
AUDUSD and EURGBP are the heaviest stop runners.
  • #1,996
  • Aug 21, 2018 7:51am Aug 21, 2018 7:51am
I have a chart ive labelled up showing why I believe EU is still short. However due to it being a clean chart and not containing any of this threads indicators ill ask the community if they would like to see it. I think it will benefit those who are not sure on market movement, if you guys like that sort of content ill make a new thread up and post similar analysis in that thread so we can keep this thread dedicated to Davits system. Like I said its how a trader incorporates Davits system into there trading plan. For me I use Pivots with TDI to get me good entries into my system.
  • #1,997
  • Aug 21, 2018 7:51am Aug 21, 2018 7:51am
Quoting dhinesh123
{quote} Hi, nice gain. yet u sold EU @R-zone, am curious about ur long!!! i think u had diff thought abt it!!!

Hi buddy, my Long EU have already hit my TP at price 1.15000 previous post. And watching EU for short trade at the extreme R-zone to go short. I’m quite undecisive to go short because it had went up above 1.15000 and came back down and decided to go short.

Overall trend it’s still a downtrend if you look at Daily.
  • #1,998
  • Aug 21, 2018 7:52am Aug 21, 2018 7:52am
Quoting Neil0163
I have a chart ive labelled up showing why I believe EU is still short. However due to it being a clean chart and not containing any of this threads indicators ill ask the community if they would like to see it. I think it will benefit those who are not sure on market movement, if you guys like that sort of content ill make a new thread up and post similar analysis in that thread so we can keep this thread dedicated to Davits system. Like I said its how a trader incorporates Davits system into there trading plan. For me I use Pivots with TDI to...

Nice call buddy.
  • #1,999
  • Aug 21, 2018 7:57am Aug 21, 2018 7:57am
Quoting skippyone
{quote} Every indicator is a lagging indicator - even the TDI. Price action around Fib weekly levels is really what we are trading on this thread. I think Neil and Davit have mentioned this many times that TDI can be used to confirm the trade ( Or give you greater confidence / confluence of your entry )

Hi buddy,

Yes you’re right about every indicator is lagging but PA is base on our individual skill to factor on the price movements.

There’s lots of price factors that we have to know. I don’t use moving average for my trading. I’m purely on price action and Davit Pivot. That’s all I’m using.
  • #2,000
  • Aug 21, 2018 8:00am Aug 21, 2018 8:00am
Quoting Neil0163
I have a chart ive labelled up showing why I believe EU is still short. However due to it being a clean chart and not containing any of this threads indicators ill ask the community if they would like to see it. I think it will benefit those who are not sure on market movement, if you guys like that sort of content ill make a new thread up and post similar analysis in that thread so we can keep this thread dedicated to Davits system. Like I said its how a trader incorporates Davits system into there trading plan. For me I use Pivots with TDI to...
Thats a great idea and its much appreciated friend.
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