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Davit's Confluence Trading

  • #241
  • Aug 2, 2013 1:46am Aug 2, 2013 1:46am
Look the precision on the levels, how pretty looks those rebounds.. Gold had a wonderful down rally, unfortunately I was away. T_T. Canadian and Franc looks good. Im still keeping my US-JPY long with and stop in breakeven.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Gold short rally from sell zone.png Size: 47 KB
Click to Enlarge Name: Gold Daily.png Size: 36 KB
Click to Enlarge Name: Gold Weekly.png Size: 34 KB
Click to Enlarge Name: us-cad 3-4th long rally rebound.png Size: 60 KB
Click to Enlarge Name: us-ch buy zone long rally rebound from levels.png Size: 66 KB
Swing with the tide, Surf with the waves!
  • #242
  • Aug 2, 2013 2:09am Aug 2, 2013 2:09am
Quoting Davit
{quote} FXRetro (Your name would be better.Feel weird addressing you FXretro) Your Chart looks good but Fibs get little on a way.You should Target levels where S/R are and Round numbers. I think Bryno got the levels right.Its optional I trade for maximum gain but taking profits in increments is good as well. REgards
Call me Many!.. You are in boston right? Im in new jersey. When I get the chance I'll try to pass by your city to get to chat and exchange ideas. What do you think? I have relative living there too whom I must visit, so it would be like killing to birds :-p on one shot .

About the fibos Im just using the tool as the median line grid, with the Q1-Q2 (1/3-1/4), the center line (1/2) & Q3-Q4 (2/3-3/4) with the zones between them. I keep in mind the Sup-Res levels and the round numbers. Im just getting the feeling of the method and adjusting it to my self. :-)
Swing with the tide, Surf with the waves!
  • #243
  • Aug 2, 2013 2:16am Aug 2, 2013 2:16am
just to explaing: This thing of 1/2, 1/3, 1/4-- 2/3, 3/4, 4/4 it is just to measure the length of the regressions compared to the high & low of the previous rally or movement. It is almost the same as the normal fibo levels, just another way to use it.
Swing with the tide, Surf with the waves!
  • #244
  • Aug 2, 2013 2:37am Aug 2, 2013 2:37am
ok.. I closed the US-JP longs, 3 positions = +210 pips. I decided to close it because I wasn't since the beginning and I think it is a good amount of pips. Keeping pips is important too :-))
Swing with the tide, Surf with the waves!
  • #245
  • Aug 2, 2013 1:23pm Aug 2, 2013 1:23pm
Closed all my EN shorts with a loss
With RBA cut (most likely since market is reacting) on Aussie next week EN may go 1.70
I will sell short to get my original target 64 to recoup the loss and make profit.
To me it is planned loss.
I am sorry if anyone copies my orders.Markets can prove anyone wrong so taking a loss is part of trading and I know its painful.
I am taking a time off from posting here to focus on my trading.Mistake I made on this loss needs thoughtful evaluation.Thanks guys.
In trading, you have to be defensive and aggressive at the same time
  • #246
  • Aug 2, 2013 2:03pm Aug 2, 2013 2:03pm
Quoting Davit
Closed all my EN shorts with a loss With RBA cut (most likely since market is reacting) on Aussie next week EN may go 1.70 I will sell short to get my original target 64 to recoup the loss and make profit. To me it is planned loss. I am sorry if anyone copies my orders.Markets can prove anyone wrong so taking a loss is part of trading and I know its painful. I am taking a time off from posting here to focus on my trading.Mistake I made on this loss needs thoughtful evaluation.Thanks guys.

ahhh...well, thanks Davit. You're tough man. I will continue to study your ideas and the median grid. This has been a nice learning experience. It's also very early in the month, plenty of time to hit your goal.

Take care and I look forward to your return,
Bryan
  • #247
  • Aug 2, 2013 2:21pm Aug 2, 2013 2:21pm
Quoting Davit
Closed all my EN shorts with a loss With RBA cut (most likely since market is reacting) on Aussie next week EN may go 1.70 I will sell short to get my original target 64 to recoup the loss and make profit. To me it is planned loss. I am sorry if anyone copies my orders.Markets can prove anyone wrong so taking a loss is part of trading and I know its painful. I am taking a time off from posting here to focus on my trading.Mistake I made on this loss needs thoughtful evaluation.Thanks guys.
Yeah I still think it is a good trade, Euro is due a drop

similar target,
Attached Image (click to enlarge)
Click to Enlarge Name: eurnzdh1.png Size: 30 KB
Money never sleeps...
  • #248
  • Aug 4, 2013 2:55pm Aug 4, 2013 2:55pm
building positions on EC by far my most profitable pair for me.
On MONTHLY I drew the Monthly grid.On daily one you can take PROFIT AT 35
Price has more room to go up like 4370 previous high but I am starting small and will patiently wait.
Red line is my median line.Above 20% short below 20% long. Price has potential to go 32 and lower however more realistic TP for me is 35 which is 300 pips from now.Not bad.
On daily one can see how monthly fits in
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurcad.monthly.png Size: 32 KB
Click to Enlarge Name: eurcad.daily.png Size: 38 KB
In trading, you have to be defensive and aggressive at the same time
  • #249
  • Aug 4, 2013 3:02pm Aug 4, 2013 3:02pm
Quoting FxRetro
ok.. I closed the US-JP longs, 3 positions = +210 pips. I decided to close it because I wasn't since the beginning and I think it is a good amount of pips. Keeping pips is important too :-))

Manny nice job!! Keep going!
In trading, you have to be defensive and aggressive at the same time
  • #250
  • Aug 4, 2013 3:07pm Aug 4, 2013 3:07pm
Quoting inpatient
{quote} Yeah I still think it is a good trade, Euro is due a drop similar target, {image}

Steph Yes I still have 2 shorts at 69.Lets see how this unfolds.
I believe ECB not changing the rate and Aussie RBA potential rate cut (I believe they will keep the same) markets acted violently on FRi and also end of month.
I am looking at EA 1.50 and above but I am going to wait until Tues RBA decision
Regards
In trading, you have to be defensive and aggressive at the same time
  • #251
  • Aug 4, 2013 3:09pm Aug 4, 2013 3:09pm
Quoting bryn077
{quote} ahhh...well, thanks Davit. You're tough man. I will continue to study your ideas and the median grid. This has been a nice learning experience. It's also very early in the month, plenty of time to hit your goal. Take care and I look forward to your return, Bryan

Thanks Bryno
Fine tune it on demo.As you probably already know no system is 100%
In trading, you have to be defensive and aggressive at the same time
  • #252
  • Aug 5, 2013 1:38am Aug 5, 2013 1:38am
Quoting Davit
Closed all my EN shorts with a loss With RBA cut (most likely since market is reacting) on Aussie next week EN may go 1.70 I will sell short to get my original target 64 to recoup the loss and make profit. To me it is planned loss. I am sorry if anyone copies my orders.Markets can prove anyone wrong so taking a loss is part of trading and I know its painful. I am taking a time off from posting here to focus on my trading.Mistake I made on this loss needs thoughtful evaluation.Thanks guys.
David I think that the only thing you mis was the "relative strengh index" (Not the indictor RSI) between the NZD pairs and the other ones. The long position I had placed in NZ-JP, I did closed the same day with +0.8 pips because I didn't see the NZ-US going up and the Jpy ones looked stronger than NZ. On Mt4 you can organize your charts as you like by "File- Profile" and chage easly between your favorite ones.
Swing with the tide, Surf with the waves!
  • #253
  • Aug 5, 2013 5:46am Aug 5, 2013 5:46am
Quoting Davit
All my positions have been activated.The beauty of limit?The monster spike which triggered 6650 immediately in profit. Bryno not ignoring you but I have to let you figure things little on your own.It shows effort.Without effort nobody goes anywhere.Read the book.It eloquently explains a lot of things. {image}
Davit, which book do you mean?
  • #254
  • Aug 5, 2013 8:48am Aug 5, 2013 8:48am
Quoting Davit
{quote} Thanks Bryno Fine tune it on demo.As you probably already know no system is 100%

He's back !...Got it, will practice with demo. Also got your comments on those trades I took last week, thanks. Regarding fundamentals, it should be interesting to see what the RBA does and how it effects the Aussie.
  • #255
  • Aug 5, 2013 9:28am Aug 5, 2013 9:28am
Quoting Davit
{quote} Charts look great.You got the level idea beautifully. I just want to emphasize that key to this system is small lots 1 direction.Author recommend to go with the trend. I use both CT and main Trend.I hope you understood the significance of minor noise comparing to major news and idea of allowing trades to mature. I really think this book is great.Lot of wisdom. Ideally you should either go long or short bottom /top 20% 50fib is dead center.You want greater edge on your side. Congrats on your 60pip profits...
Davit, which book are you referring to?
  • #256
  • Edited 6:46pm Aug 5, 2013 10:10am | Edited 6:46pm
Quoting Olarion1975
{quote} Davit, which book are you referring to?

Hey Olarion...since you have inquired twice, I can't leave a trader hangin.. Davit must be busy. The book is:

Bird Watching in Lion Country...let me see if I can load the PDF for you.
  • #257
  • Aug 5, 2013 10:27am Aug 5, 2013 10:27am
Quoting bryn077
{quote} Hey Olarion...since you have inquired twice, I can't leave a trader hangin.. Davit must be busy. The book is: Bird Watching in Lion Country...let me see if I can load the PDF for you. {image}
Thank you very much, Bryn!
  • #258
  • Aug 5, 2013 4:48pm Aug 5, 2013 4:48pm
Quoting bryn077
{quote} Hey Olarion...since you have inquired twice, I can't leave a trader hangin.. Davit must be busy. The book is: Bird Watching in Lion Country...let me see if I can load the PDF for you. {image}

Hi Bryno
Please remove the file.
It is copy right violation and I got warning from FF staff.
In trading, you have to be defensive and aggressive at the same time
  • #259
  • Aug 5, 2013 4:59pm Aug 5, 2013 4:59pm
I re-entered EN shorts from top 71/70/6950 9positions
As I am typing I am up +700 pips
Target is 65 which is 3600 pips with my 9 positions. 3600-700= 2900 pips to go.
It is important to understand time factor.Larger swings require longer time to reach TP
As always one should always keep with news and price action.Just because your or mine TP is 65 doesn't mean it will get there but I am confident that Kiwi will find her strength.
Attached Image (click to enlarge)
Click to Enlarge Name: eurnzd.daily.png Size: 45 KB
In trading, you have to be defensive and aggressive at the same time
  • #260
  • Aug 5, 2013 5:04pm Aug 5, 2013 5:04pm
Quoting Olarion1975
{quote} Davit, which book are you referring to?

Hi did not mean to ignore your request.I just have not checked my journal recently.
Read the book and take what you can from it.
regards
In trading, you have to be defensive and aggressive at the same time
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