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DeMark TDST Trading

  • #41
  • Nov 19, 2009 4:52am Nov 19, 2009 4:52am
Quoting Pervaz
Hi Hensch

I didnt take the trade - i hadnt thought of using previous support/resistance

Quick question is that you have an additional support level (Number 6) that i didnt have on my chart and yet the timings were pretty similar

Any ideas ?
I posted my chart right after you did and the first thing that caught my attention was that you didn't have that level, so no idea why.

If I understood correctly, using previous support/resistance is explained in the first posts.

However I wanted to have Foggy's OK on it. Just to be sure.
  • #42
  • Nov 19, 2009 5:11am Nov 19, 2009 5:11am
Quoting special0nefx
Foggy,
Is me. Can you help me draft for GJ pair i attached. Still a bit blur . Hope you can help . Then will understand more GJ pair... thanks
Hello SpecialOne,

The signal you spotted is a good one as I explain in the picture below. However, as I also explain in the next two pictures, personally this is a trade I wouldn't take. Although that doesn't mean it won't work it.


Attached Image (click to enlarge)
Click to Enlarge Name: 1-hour-191109.jpg Size: 218 KB



Posted below is my current take on the daily situation for GBPJPY. Since September this market has been bearish following the breach of the lower BAT support level at 144.31. Since then I have been actively looking for opportunities to go short (in a very difficult market recently). The best chance was when the final bullish thrust on the 22 of October had its low removed to a close by the big outside/bearish thrust bar, which indecently I missed . I can't be here all the time. Nevertheless, I have been looking for more chances and managed to add one so far which will target the 125 area.


Attached Image (click to enlarge)
Click to Enlarge Name: Daily-191109.jpg Size: 286 KB



However, to contradict myself the weekly chart tells another story. Since breaching the upper BAT resistance at 162 back in June it has been bullish. There was one opportunity to go long following a close above a bearish thrust’s high which failed and since then we have not had a close above a bearish thrust which is the signal to start to look for longs. Now, until we either get a close above the last bearish thrusts high of 150.36 at which time we look for long opportunities or we get a breach of the lower BAT at 132 there is no clear direction on the weekly.


Attached Image (click to enlarge)
Click to Enlarge Name: Weekly-191109.jpg Size: 253 KB


Point is you have to have a longer-term game. Even if these to contradict each other it is important to understand there are always two possible scenarios eventually.


Hope this helps, nicely spotted setup

Cheers
Foggytrader
  • #43
  • Nov 19, 2009 5:21am Nov 19, 2009 5:21am
Quoting hensch
I posted my chart right after you did and the first thing that caught my attention was that you didn't have that level, so no idea why.

If I understood correctly, using previous support/resistance is explained in the first posts.

However I wanted to have Foggy's OK on it. Just to be sure.

Hello Hensch,

Yes, if you read carefully it is the TDST (support/resistance) levels that we look for a reaction/rejection. When we get that and if it agree's with your longer-term view, we take the trade.

Shown below is a possible outcome in EURGBP, which agrees with my longer-term (more medium-term) strategy.

Attached Image (click to enlarge)
Click to Enlarge Name: Demark-191109-part-2.jpg Size: 199 KB


Hope this helps,

BTW, when I say I will attempt small longs I don't use the full 1% risk I will only open one or two lots. I will save my full risk for the more higher probability larger reward set-ups.

Cheers
Foggytrader
  • #44
  • Nov 19, 2009 5:42am Nov 19, 2009 5:42am
Moved stoploss to breakeven and set target as we have hit the first TDST support level.

Cheers
Foggytrader

Attached Image (click to enlarge)
Click to Enlarge Name: 191109-5-minute-part-5.jpg Size: 218 KB
  • #45
  • Nov 19, 2009 5:59am Nov 19, 2009 5:59am
foggy,
So according this chart we should buy after show got 9 counts down now and the price for number 9 just touch but not close below the number 2 TDST support level. So is trigger for ---> Buy.

But now the chart show it break but not sure will close or not.

Let say:-

(a)if it close below the number 2 TDST support level. So we need to wait
it retrace to RED 1 or not? If retrace not reach there.So is trigger-->
SELL?

(b)if it close above the number 2 TDST support level. So it trigger-->BUY?

By the way, is 1H TF is ok for GY ?

please advise thanks. Going to understand already .



Quoting foggyTrader
Hello SpecialOne,...
Attached Image (click to enlarge)
Click to Enlarge Name: gjh1_201109_2.gif Size: 27 KB
  • #46
  • Nov 19, 2009 6:17am Nov 19, 2009 6:17am
Quoting special0nefx
foggy,
So according this chart we should buy after show got 9 counts down now and the price for number 9 just touch but not close below the number 2 TDST support level. So is trigger for ---> Buy.

But now the chart show it break but not sure will close or not.

Let say:-

(a)if it close below the number 2 TDST support level. So we need to wait...
Hello SpecialOne,

Yes it was a buy setup, you are correct. Following the rules this trade would have been triggered but if it has not been then it would be cancelled now as we got a close below the low of the candle which touched the TDST support level.

(a) if it closes below the TDST support level or above a TDST resistance level we just leave it and look for the next opportunity.

(b) No that is not the rule. We are looking for the price to react at the TDST levels, nothing else. Once it has been hit the price will either react or go through it either way once it has been touched it is left and not used again to make a trading decision.

Personally I would say the 1 hour timeframe has to large a risk factor. I use this to get with little risk which is why I use the 5 minute chart the majority of the time. It is your own decision, you will get signals on any timeframe any pair so you have to decide.

Hope this helps,

Cheers
Foggytrader
  • #47
  • Nov 19, 2009 6:25am Nov 19, 2009 6:25am
Strategy long time for Spot Gold

Sell 1130 - 1146 {SL = 1172, TP = 1032 - 1035 (target 1), 945 - 960 (target 2)}
- 1032 - 1035 on 7/12/2009
- 945 - 960 on 17/12/2009

Image
http://666kb.com/i/be8qfy93st9j16051.gif

Best Regards,

Belieftran
  • #48
  • Nov 19, 2009 6:34am Nov 19, 2009 6:34am
hi foggy ,
Thanks for the info and guides. You're really helps a lot for me. You've been a nice guider and helpful for me.
I'll use 1H and 5Min TF for practice 1st...
I look which TF is suitable then i'll post out all the trigger can open for trade.
Hopes can help ppl here .

Thank you foggy, Is a nice system you been sharing with people here.
Regards,
0ne

Quoting foggyTrader
Hello SpecialOne,

Yes it was a buy setup, you are correct. Following the rules this trade would have been triggered but if it has not been then it would be cancelled now as we got a close below the low of the candle which touched the TDST support level.

(a) if it closes below the TDST support level or above a TDST resistance level we just leave it and look for the next opportunity.

(b) No that is not the rule. We are looking for the price to react at the TDST levels, nothing else. Once it has been hit the price will either react or go through...
  • #49
  • Nov 19, 2009 6:52am Nov 19, 2009 6:52am
Quoting special0nefx
hi foggy ,
Thanks for the info and guides. You're really helps a lot for me. You've been a nice guider and helpful for me.
I'll use 1H and 5Min TF for practice 1st...
I look which TF is suitable then i'll post out all the trigger can open for trade.
Hopes can help ppl here .

Thank you foggy, Is a nice system you been sharing with people here.
Regards,
0ne

ThanksSpecialOne, nice to see someone getting involved.

Cheers
Foggytrader
  • #50
  • Nov 19, 2009 6:53am Nov 19, 2009 6:53am
Quoting Belieftran
Strategy long time for Spot Gold

Sell 1130 - 1146 {SL = 1172, TP = 1032 - 1035 (target 1), 945 - 960 (target 2)}
- 1032 - 1035 on 7/12/2009
- 945 - 960 on 17/12/2009

Image
http://666kb.com/i/be8qfy93st9j16051.gif

Best Regards,

Belieftran
Hello Belieftran,

Sorry I don't understand your post. Is it DeMark?

Cheers
Foggytrader
  • #51
  • Nov 19, 2009 6:59am Nov 19, 2009 6:59am
Another chance to short...

Attached Image (click to enlarge)
Click to Enlarge Name: 191109-5-minute-part-6.jpg Size: 260 KB


Cheers
Foggytrader
  • #52
  • Nov 19, 2009 8:27am Nov 19, 2009 8:27am
Moved second lot to breakeven and target set at 1.6730.

Cheers
Foggytrader

Attached Image (click to enlarge)
Click to Enlarge Name: 191109-5-minute-part-7.jpg Size: 252 KB
  • #53
  • Nov 19, 2009 8:33am Nov 19, 2009 8:33am
I am still looking to add to my USDCAD long's, this was a good looking rejection so I took it.

Cheers
Foggytrader

Attached Image (click to enlarge)
Click to Enlarge Name: 191109-5-minute-part-8.jpg Size: 216 KB
  • #54
  • Nov 19, 2009 8:40am Nov 19, 2009 8:40am
sorry bro,
btw mostly wer should i set my TP? know the stoploss but forget wer to TP . Fix my own TP or got any hints to TP ? heheh...
  • #55
  • Nov 19, 2009 8:50am Nov 19, 2009 8:50am
Posting this one as it is a good illustration of the perfect set-up. These setups happen every week at some point or another, the trick is obviously picking them. However, I believe that when the market knows where it wants to go, these setups will occur more often during the trend. Hopefully these will now hold for my longer-term target.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD-5-minute-181109-part-2.jpg Size: 210 KB


SpecialOne,

Yes just make your own mind up over the TP. It can be the opposite TDST line as is mentioned in my earlier training posts or it can be long-term as I am aiming for.

Cheers
Foggytrader
  • #56
  • Nov 19, 2009 8:54am Nov 19, 2009 8:54am
Moved to breakeven, there is a nice move developing.

Cheers
Foggytrader

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD-5-minute-181109-part-3.jpg Size: 200 KB
  • #57
  • Nov 19, 2009 9:00am Nov 19, 2009 9:00am
alright man ^^...

Quoting foggyTrader
Posting this one as it is a good illustration of the perfect set-up. These setups happen every week at some point or another, the trick is obviously picking them. However, I believe that when the market knows where it wants to go, these setups will occur more often during the trend. Hopefully these will now hold for my longer-term target.

Attachment

SpecialOne,

Yes just make your own mind up over the TP. It can be the opposite TDST line as is mentioned in my earlier training posts or it can be long-term as I am aiming for.

Cheers
Foggytrader...
  • #58
  • Nov 19, 2009 10:29am Nov 19, 2009 10:29am
Just thought I would post in advance my thoughts on GBPJPY at the moment. I will be looking to sell around the 148.21 level should we get a nice failure there. This is also supported by the fact that the 60 day SMA is also around there currently at 148.17. If we get a close below there tonight then the losses may become accelerated.

So for anyone who is interested, place a wee alert on your MT4 platform at GBPJPY bid > 148.20 and go relax and have some dinner

Cheers
Foggytrader

Attached Image (click to enlarge)
Click to Enlarge Name: 191109-5-minute.jpg Size: 214 KB
  • #59
  • Nov 19, 2009 10:59am Nov 19, 2009 10:59am
Slight failure at the mentioned level, it is 46 pips risk and orders are placed to sell at 147.97.

Attached Image (click to enlarge)
Click to Enlarge Name: 191109-5-minute-2.jpg Size: 246 KB


Cheers
Foggytrader
  • #60
  • Nov 19, 2009 11:12am Nov 19, 2009 11:12am
Trade is now triggered.

Cheers
Foggytrader

Attached Image (click to enlarge)
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