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DeMark TDST Trading

  • #441
  • Dec 14, 2009 4:26pm Dec 14, 2009 4:26pm
Attached Image


GBPUSD - No Change

As expected the MA's are providing the resistance here since they were removed them to a close last Tuesday. In a similar fashion to the EURUSD I would prefer to see if the bears can test the lower BAT support at 1.5988 before becoming involved while it may also be possible that we complete a TD Buy Setup at or around the lower BAT level which would be ideal. Should the bears test this level I will look for long opportunities initially as we remain under the control of the bulls on the weekly chart.

A good run for the bulls today but I see nothing yet to change my view here while the MA's hold and the last bearish thrusts high at 1.6475 is not removed to a close the bulls have a lot of work to do.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD-Daily-14.12.09.jpg Size: 216 KB


Cheers
Foggytrader
  • #442
  • Dec 14, 2009 4:33pm Dec 14, 2009 4:33pm
Attached Image


USDCAD - No Change

Well, since breaching the upper BAT resistance level some weeks ago I have been looking for opportunities to go long. Following the removal to a close of several bearish thrusts highs followed by a failure the bulls seem to be struggling a little. However, I have managed to get one long position on Friday and I will be looking to add to that this week should the opportunity arise. With a double TDST resistance level appearing at 1.0851 I will take partial profits there and be ready to go short should we fail this level on the daily close while I will hold the rest of my position for the ultimate bull target at 1.1250.

Complete balls up today on this pair, took a long trade and as I trade multiple accounts I went to adjust the stoploss on the new entry forgot to uncheck my old entry and its stoploss was placed at the same level as todays trade which was then stopped. So I got out with 119 pip profit but I had planned to hold it for longer. Never mind, a profit is a profit. People forget that we are only human and mistakes can be made, emotions can be used from time to time but so long as you finish each year in profit then who cares.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD-Daily-14.12.09.jpg Size: 201 KB


Cheers
Foggytrader
  • #443
  • Dec 15, 2009 1:50am Dec 15, 2009 1:50am
Attached Image


GBPJPY

Sorry I have been quite busy this morning but we got quite a nice failure signal on this pair some 40 mins ago. I took a short position and was stopped, the risk was 44 pips which is quite high for DeMark but certainly not for GBPJPY. Anyway as I was so busy I had to prioritise and could only enter this one on the multi terminal and not the demo account.

Attached Image (click to enlarge)
Click to Enlarge Name: 15.12.09-DeMark.jpg Size: 185 KB


Cheers
Foggytrader
  • #444
  • Dec 15, 2009 2:01am Dec 15, 2009 2:01am
Attached Image


GBPCHF

As I just explained in the last post I have been busy and like the GBPJPY I only had time to enter this one on my live accounts. We got a bounce from the TDST support level so a long entry was taken. As I didn't have time to enter this one on the demo, I attached a screenshot of the MM and the 2% target is at 1.6876.

Attached Image (click to enlarge)
Click to Enlarge Name: 15.12.09-DeMark5-min.jpg Size: 196 KB


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Click to Enlarge Name: 15.12.09-DeMark5-minb.jpg Size: 190 KB


Attached Image (click to enlarge)
Click to Enlarge Name: Forward-Testing-Entry-4.jpg Size: 217 KB


Cheers
Foggytrader
  • #445
  • Dec 15, 2009 3:32am Dec 15, 2009 3:32am
Hello Dave,

I got my guy to look at the code and when you take away the erase function you can see what happens from the pictures below. I knew there was a reason we needed to have it. Anyway, I am sure you would rather have a separate chart or re draw your own lines and text rather than have to delete all the crap that gets left on the chart from changing TF's from the DeMark indicator.

Attached Image (click to enlarge)
Click to Enlarge Name: example-5-minute-A.jpg Size: 205 KB


Attached Image (click to enlarge)
Click to Enlarge Name: example-15-minute.jpg Size: 227 KB


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Click to Enlarge Name: example-30-mins.jpg Size: 243 KB


Attached Image (click to enlarge)
Click to Enlarge Name: example-5-minute-B.jpg Size: 250 KB


Cheers
Foggytrader
  • #446
  • Dec 15, 2009 3:54am Dec 15, 2009 3:54am
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 15 KB
  • #447
  • Dec 15, 2009 4:13am Dec 15, 2009 4:13am
Quoting fxtaiko
Yes nice entry, EURUSD is testing the TDST support on the daily chart currently so a bounce today would offer a nice buying opportunity.

While I appreciate your postings Mr Taiko, it would be good if you could elaborate a little more and if you trade the TD Setups, post pre entry and explain to the other users how and why you enter?

Thanks, much appreciated...

Cheers
Foggytrader
  • #448
  • Dec 15, 2009 4:18am Dec 15, 2009 4:18am
I am having a nightmare with my brokers data feed today, screwing everything up. Can anyone tell me how GBPCHF has gone today? I was looking for 1.6939 as teh 5% target of the would be second lot of my MM idea.

Cheers
Foggytrader
  • #449
  • Dec 15, 2009 4:43am Dec 15, 2009 4:43am
Attached Image


EURUSD

EURUSD has pushed through the TDST support level of 1.4577 and has the lower BAT support level of 1.4497 in its sights. We are currently on the 8th bar of a TD Buy Setup so as I posted two nights ago, should we remove the lower BAT support level today or tomorrow, we should see a good bounce higher. In an ideal world I would like to see that happen today with a close back above the TDST support of 1.4577, that would be superb.

Having to use demo data here but failry sure the numbers are the same, there or there abouts anyway...

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.Daily.15.12.09.jpg Size: 169 KB


Cheers
Foggytrader
  • #450
  • Dec 15, 2009 5:07am Dec 15, 2009 5:07am
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 15 KB
  • #451
  • Dec 15, 2009 7:30am Dec 15, 2009 7:30am
Quoting foggyTrader
Hello Dave,

I got my guy to look at the code and when you take away the erase function you can see what happens from the pictures below. I knew there was a reason we needed to have it. Anyway, I am sure you would rather have a separate chart or re draw your own lines and text rather than have to delete all the crap that gets left on the chart from changing TF's from the DeMark indicator.

Attachment

Attachment

Attachment

Attachment

Cheers
Foggytrader
Hi Foggy..

Thanks for looking into that. Makes sense that you would want each fime frames TD count separated from the other TF's count.
  • #452
  • Dec 15, 2009 7:44am Dec 15, 2009 7:44am
Here is my first trade using the TD indicator and the info from this thread. Like every one else I was watching the EU and it seemed like it was heading toward weakness on daily and 4hr so I was looking for short positions. On 5 min TF price fell under the green support line and then came back up and tested the support line twice. This looked like a clear rejection to me but I was concerned with all of those recent failed attempts to take price lower. So I decided to wait until those lows were broken before entering. Waited until 1.4600 to enter (also break of previous days low) and then exited at 1.4534 at the consolidation area that formed on the chart.
Attached Image (click to enlarge)
Click to Enlarge Name: eu long t1.gif Size: 24 KB
  • #453
  • Dec 15, 2009 8:17am Dec 15, 2009 8:17am
Dave,

I loved reading your last post. I wish I could see more posts like that to help me with my trading. I know if i can figure out what the great traders are thinking when they trade, I know I can mimic it. You had a plan on your trade, not just making a blind buy, sell, or run like hell. This is where I am trying to get to with my manual trading.

Good luck and happy pips!
Simple
A woman drove me to drink, and I forgot to thank her
  • #454
  • Dec 15, 2009 9:14am Dec 15, 2009 9:14am
Hi Foggy,

Here is today's action on the GBPCHF 5min chart.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf t2.gif Size: 22 KB
  • #455
  • Dec 15, 2009 9:21am Dec 15, 2009 9:21am
Quoting ozziedave
Hi Foggy,

Here is today's action on the GBPCHF 5min chart.
Hi ozziedave, can you please share your indicators and template?

Thanks!
  • #456
  • Dec 15, 2009 9:26am Dec 15, 2009 9:26am
Quoting ozziedave
Hi Foggy,

Here is today's action on the GBPCHF 5min chart.
Thanks Dave,

I got it sorted, well I am actually having to use the demo data feed and enter with the mulit-terminal, still isn't fixed. My broker has changed to a state of the art new computer centre so I guess they are having some teething problems but I am sure it will be for the best in the long run.

Nice entry, today although you will have to be careful using DeMark in that way as there are a lot of false signals (I guess like my way and all trading systems...lol...) Na but seriously I have looked into this way before and it is dificult to trade. However, one thing I can tell you through my research and testing of this particular method is that if you get a close over a TDST level and price comes back watch the 9th bars high if you close above a TDST resistance level and a 9th bars low if you close below a TDST support level. These are the levels that are usually key following a close over the TDST level.

Obviously though you used it to go along with your long-term view which is fine but I guess you wouldn't usually adopt this method.

Cheers
Foggytrader
  • #457
  • Dec 15, 2009 9:52am Dec 15, 2009 9:52am
Hi Foggy...

Just trying to get my head around all of this. Here is a picture of the GBPUSD 5 M chart. Price has come up and closed about a TDS resistance level. Now do you wait for a re-test of that level before you go long or are you just looking at the resistance level for a rejection and a short signal and there's no trade if it breaks and goes higher?
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd buy t3.gif Size: 22 KB
  • #458
  • Dec 15, 2009 10:31am Dec 15, 2009 10:31am
Quoting ozziedave
Hi Foggy...

Just trying to get my head around all of this. Here is a picture of the GBPUSD 5 M chart. Price has come up and closed about a TDS resistance level. Now do you wait for a re-test of that level before you go long or are you just looking at the resistance level for a rejection and a short signal and there's no trade if it breaks and goes higher?
Hi Dave,

Hope the picture below helps explain what I was meaning. Your buy level would be the high of the 9th bar in the TD Buy Setup. I think if I remember correctly this particular strategy works better on higher timeframes however obviously the risk will increase but I would say there are too many false signals on lower timeframes.

At the end of the day Dave any of the ways you chose to trade will give false signals like everything but I believe if you can chose the right direction from looking at a higher timeframe as you obviously can then you will pick the right trades and the indicator can then be utilised in a number of different ways.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD-buy-example.jpg Size: 194 KB


Cheers
Foggytrader
  • #459
  • Dec 15, 2009 3:11pm Dec 15, 2009 3:11pm
Quoting foggyTrader
Hi Dave,

Hope the picture below helps explain what I was meaning. Your buy level would be the high of the 9th bar in the TD Buy Setup. I think if I remember correctly this particular strategy works better on higher timeframes however obviously the risk will increase but I would say there are too many false signals on lower timeframes.

At the end of the day Dave any of the ways you chose to trade will give false signals like everything but I believe if you can chose the right direction from looking at a higher timeframe as you obviously can then...
Hi Foggy,

Yes, I realise that any methodology will give some false signals no matter how good of a trader you are. I have read some of Demarks stuff and I just find it a bit confusing. Even though I find Demark's writing a bit confusing I find your TD indicator quite useful especially for locating areas of support and resistance. The GBPUSD trade I posted was just support and resistance and it was a really nice set up. From your example I see what you mean about the 9th candle and I will take a closer look to see if trading those breaks looks profitable to me.

I do have a question, on the TD indicator there is a fine dotted line that seems to move up and down with price and it frequently changes colour from green to red but I can't figure out exactly what triggers it to move or how you would use it to trade with.
  • #460
  • Dec 15, 2009 3:22pm Dec 15, 2009 3:22pm
Quoting Inbox
Hi ozziedave, can you please share your indicators and template?

Thanks!
Hi Inbox,

If you notice in my postings I never talk about any indicators other than the TD and BAT. I don't talk about them because they have nothing to do with this thread. So I would rather not post my indicators and templates out of respect for the originator of this thread. Believe me, the indicators on my chart will not help you trade with this methodology on a 5 min chart. Learn price action and support & resistance and you'll be able to trade any TF chart. Follow Foggies analysis and learn form him, he does a really good job of analysing the longer term charts and candle formations.
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