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Confluence Trading Method

  • #61
  • Jun 7, 2021 11:44am Jun 7, 2021 11:44am
EU
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  • #62
  • Jun 7, 2021 12:08pm Jun 7, 2021 12:08pm
USDCAD, Wyckoff Accumulation Schematic
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  • #63
  • Jun 7, 2021 9:54pm Jun 7, 2021 9:54pm
Hey M,

I have a opposite view to your USDCAD. I see the weekly slowing and and printed a green candle which tells me that we are extended and now looking to make a retracement atleast to the 0.382 level. on the Daily we now have a resistance turned support on USDCAD. I am personally looking for longs to complete the weekly retracement.

Confluence used:
1) Weekly Pivot
2) Daily Resistance turned Support
3) 50% Fib on 4H Retracement

Lets see what the markets gives us today.
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  • #64
  • Jun 8, 2021 12:57am Jun 8, 2021 12:57am
Quoting swayam1069
Hey M, I have a opposite view to your USDCAD. I see the weekly slowing and and printed a green candle which tells me that we are extended and now looking to make a retracement atleast to the 0.382 level. on the Daily we now have a resistance turned support on USDCAD. I am personally looking for longs to complete the weekly retracement. Confluence used: 1) Weekly Pivot 2) Daily Resistance turned Support 3) 50% Fib on 4H Retracement Lets see what the markets gives us today. {image} {image}
Hello swayam Sir..
Usdcad, you are right.. you analyze the price will go up, so I analyze the same thing with you, here we both agree

Regarding the uscad analysis that I made last night based on the wyckoff scheme, it is a reversal scheme, what I did it was project whether the spring as the peak of the seller's last emphasis occurred. so wait and see if spring will happen or not and react afterwards that's my current position.

Our eyes never lie, if we are to be honest, the current buy/sell of USDCAD is just a "SUGGESTION" Until now, price hasn't been able to breakout major support or major resistance, I don't even dare to draw FiboRet, you know, because there hasn't Broken Resistance as the initial reference for the retracement begin.

so hopefully my english can be understood well. sorry if there is a wrong word
M
Thanks to Gtranslate.
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  • #65
  • Jun 8, 2021 1:26am Jun 8, 2021 1:26am
Quoting meugampong
{quote} Hello swayam Sir.. Usdcad, you are right.. you analyze the price will go up, so I analyze the same thing with you, here we both agree Regarding the uscad analysis that I made last night based on the wyckoff scheme, it is a reversal scheme, what I did it was project whether the spring as the peak of the seller's last emphasis occurred. so wait and see if spring will happen or not and react afterwards that's my current position. Our eyes never lie, if we are to be honest, the current buy/sell of USDCAD is just a "SUGGESTION" Until now, price...
I still beleive that this pair continue to down as COT report still increase in buying cad, or perharp they push them down more before selling cad, sorry it is just view only
  • #66
  • Jun 8, 2021 1:46am Jun 8, 2021 1:46am
Quoting potay90
{quote} I still beleive that this pair continue to down as COT report still increase in buying cad, or perharp they push them down more before selling cad, sorry it is just view only
sure, im agree.. Open interest still supporting the trend, but if it is paired with a forex pair, we must look at both currencies, where the dollar also shows consistency to strengthen..

no need to apologize sir, this thread belongs to all of us with various trading ideas respectively commonly using shahab methodology, im not a teacher here or who can blame others.. i'm still a kid.. lol

need to learn more from you are as senior.
M
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  • #67
  • Jun 8, 2021 2:54am Jun 8, 2021 2:54am
Quoting meugampong
{quote} sure swayam sir..glad to know ots helpfull.. looking big picture can give us where price look like to go.. here my trading plan.. disclamer.. this is not trading call or signal.. M {image}
GU Long, Spring or SL.
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  • #68
  • Jun 8, 2021 4:09am Jun 8, 2021 4:09am
Hey M, i agree, the major resistance hasnt bene broken yet and the 4H chart which i use to trade is still not promising however, I am not looking for short at the moment. the COT Report does show more downside but i believe retracement are needed as the weekly is losing momentum. Once the 4H structure or the 1D structure looks bullish.

No worries on your english ,we understand everything. Thanks for sharing your thoughts and charts. We are all students here.

My reason for being bullish was this structure that was broken and the price seems like rejecting it with the Weekly pivot. I am still waiting for more confirmations before planning my trade.
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  • #69
  • Jun 8, 2021 4:29am Jun 8, 2021 4:29am
I learned how to read COT data from this video. He has a amazing explanation on how to read the COT data and how its important to look at the average of past data and compare it with the current data to understand what the non-commercials are doing.

regarding the CAD, they definetly added more shorts for the CAD (+7%) which means USDCAD should go down but like M said, they increased the USD long by 7% and they also have increased shorts on other currencies. So i expect that if the DXY moves, the USDCAD should also move with it even though the COT data says opposite.

You can see the video here and he explains how he setup his excel sheet to understand COT data. I follow him to learn about COT data.

Inserted Video
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  • #70
  • Jun 8, 2021 4:36am Jun 8, 2021 4:36am
Quoting swayam1069
Hey M, i agree, the major resistance hasnt bene broken yet and the 4H chart which i use to trade is still not promising however, I am not looking for short at the moment. the COT Report does show more downside but i believe retracement are needed as the weekly is losing momentum. Once the 4H structure or the 1D structure looks bullish. No worries on your english ,we understand everything. Thanks for sharing your thoughts and charts. We are all students here. My reason for being bullish was this structure that was broken and the price...

sure, that level (1.21000) so important. if we zoom in that level we can see where price in and out, making snake spin and head spin often lol..
if taking long position.. price must proof his self by made break out of level then retrace and hold above level.. so we can take chance to buy.. else.
lets price action tell us.. small risk and enter.. i go short.. target 120 or 19.5
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  • #71
  • Jun 8, 2021 4:49am Jun 8, 2021 4:49am
Quoting swayam1069
Hey M, i agree, the major resistance hasnt bene broken yet and the 4H chart which i use to trade is still not promising however, I am not looking for short at the moment. the COT Report does show more downside but i believe retracement are needed as the weekly is losing momentum. Once the 4H structure or the 1D structure looks bullish. No worries on your english ,we understand everything. Thanks for sharing your thoughts and charts. We are all students here. My reason for being bullish was this structure that was broken and the price...
Same view as you Buddy .. D1 price action (CS Formation) indicate that price want to go up lets see what price do....
Don't Predict Just React..
  • #72
  • Jun 8, 2021 6:08am Jun 8, 2021 6:08am
buy sell. win lose, don't complicated your trade and analysis.. its ok for small loss as long your entry with rational reason..
trend following entry
EUR/GBP price confluence with 61.8 and near of RN
Target 0.855 or 0.85
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  • #73
  • Jun 8, 2021 6:45am Jun 8, 2021 6:45am
The ball in your hand, you decide your self being bull or bear.. eyes never lies.. only our greed and fear manipulated our soul..
hope this can help..
ciaooo... adios amigos.. i talk too much here.. lol..

Ps. im lucky kid.. shahab teach me personaly.. i can't describe how good man he is.. he is my master and my journey of trade begin with him,, if he read this.i would say..

MAN.... YOU ARE ROCK... thanks for everything and i never forget about you..
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  • #74
  • Jun 8, 2021 7:13am Jun 8, 2021 7:13am
Quoting meugampong
The ball in your hand, you decide your self being bull or bear.. eyes never lies.. only our greed and fear manipulated our soul.. hope this can help.. ciaooo... adios amigos.. i talk too much here.. lol.. Ps. im lucky kid.. shahab teach me personaly.. i can't describe how good man he is.. he is my master and my journey of trade begin with him,, if he read this.i would say.. MAN.... YOU ARE ROCK... thanks for everything and i never forget about you.. {image}
It's true friend shahab trades are always perfect, he is a trading artist. You are also very good and I hope you will continue to give your points of view.
Thank you friend
  • #75
  • Edited 9:52am Jun 8, 2021 8:47am | Edited 9:52am
I am just curious, i never trading live before , however how do you deal with spread overnight, or over weekend, and do you use some EA to close base on price ( not base on spread), because i know there is some time the spread of the market jump very high so how do all of you deal with it in practical. Sorry for ask silly question
  • #76
  • Jun 8, 2021 10:02am Jun 8, 2021 10:02am
Could it be a good area to reverse?
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  • #77
  • Jun 8, 2021 10:07am Jun 8, 2021 10:07am
Quoting potay90
I am just curious, i never trading live before , however how do you deal with spread overnight, or over weekend, and do you use some EA to close base on price ( not base on spread), because i know there is some time the spread of the market jump very high so how do all of you deal with it in practical. Sorry for ask silly question
Hey potay, i dont think people usually do that. They just let it run. I personally havent had any issues with the overnight spread as its only for few hours and if you have a good broker the spreads wont go too crazy.
  • #78
  • Jun 8, 2021 10:10am Jun 8, 2021 10:10am
I had planned this EURAUD Short based on these confluences on the 4H:

1) Weekly Pivot
2) Support Turned Resistance
3) 0.5 FIB Retracement
4) 157.500 level

Lets see if it hits TP or SL.
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  • #79
  • Jun 8, 2021 10:20am Jun 8, 2021 10:20am
Quoting gf233
Could it be a good area to reverse? {image}
Hey gf,

there is a strong support at that level and it is near the .500 level.
The Confluence you can look at is:

1) RSI Divergence on 1H/4H
2) Round Number
3) 4H Support
4) Wicks and previous reactions to that level.

There is RSI divergence on 1H and 4H so there is higher probability for price to atleast give you enough pips to go Breakeven based on the above confluences.

I use Shahab's system to give me confience on if I should take the trade or no. Here is what he does:

Quote
I use an arbitrary scoring system that I developed myself for confluence levels: round number (score=2), W/D/H4 S/R (score=2), H1/M30/M15 S/R (score=1), fib levels (score=1), and weekly pivot (score=1). If you are going with the trend you add one score. If it is a counter trend, you subtract 1 score. You add up the scores and you get a total score. The higher the total score, the higher the confidence of that level.


You can try using this system as him to give you more confidence.

Hope this helps.
  • #80
  • Jun 8, 2021 10:29am Jun 8, 2021 10:29am
Quoting swayam1069
{quote} Ehi gf, c'è un forte supporto a quel livello ed è vicino al livello di .500. La Confluenza che puoi osservare è: 1) Divergenza RSI su 1H/4H 2) Round Number 3) Supporto 4H 4) Stoppini e reazioni precedenti a quel livello. C'è una divergenza RSI su 1H e 4H, quindi c'è una maggiore probabilità che il prezzo ti dia almeno abbastanza pips per andare in pareggio in base alle confluenze di cui sopra. Uso il sistema di Shahab per darmi fiducia se devo accettare o meno lo scambio. Ecco cosa fa: {quote} Puoi provare a usare questo sistema come lui...
Thanks ... let's see if it touches 0.8950 or starts up without touching.
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