Davit's Confluence Trading

Quoting Starry

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{quote} Thanks! Thats good to know im not alone in my trade I decided to get in anyways, it looks like it is now going down. Ill see !

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Quoting Davit

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something for inspiration http://www.youtube.com/watch?v=FLWmp...XA_HRcHrDLTMWI

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Quoting Davit

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Starry and others check out EG Great harmonic set up AB=CD Price is hovering 8450 and I need that 50 pips down and I may get it. Another chart showing previous demand zone {image} {image}

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Quoting KADC

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Here's how I determine non-channelling RSI trend lines. It works on all time scales, though on the 5-min chart I used as an example I would only trade bounces off the slow lines and use the fast lines as confirmation of the change of trend. That the fast lines in this example turned out to be parallel is bonus confirmation, not necessary. {image}

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Quoting bryn077

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{quote} Hey Davit...Thanks for the Vouch ! just noticed that... On the EG, I'm in...buy limits above and below the red rectangle, similar to your zone. Though my deepest limit was hit (.8410), it was canceled due to a nearly maxed out free margin...wooops. Lots of trades now. Taking a fair amount of risk head on this week, by the horns...probably too much will tone it down next week. Just want to break through my tentative trading habit that tends to hold me back. Thank you, Bryan {image}

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Quoting KADC

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{quote} That certainly didn't turn into the EUR/AUD reversal I was hoping for. Bullish daily RSI trends have now been invalidated but price bounced from the support line just as the AUD/USD was rejected by its resistance lines in both price and RSI. EUR/USD bounced off the 38.2% retracement to the pip so I believe it has bottomed. All combined, though I don't like daily RSI below 50 (and in a bear channel as well), but with the trend line support and a return to the congestion zone plus AUD/USD decline and EUR/USD support, I'd say EUR/AUD is going...

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Quoting Starry

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btw, davit, what is that dot indicator you have? I would like to compare it to my own (which i made from john cranes 'secret to market timing' book)

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Quoting Davit

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{quote} Good day KADC I am little confused.If you are using 5min chart then how can same RSI line be both fast and slow.I am just trying to understand your mythology which is very intriguing to me.I assume you drew those slow trend lines correct?

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Quoting Davit

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{quote} Very good in fact this is extremely impressive indi created by Alfonso or he edited. Notice how accurately it draws S/R levels. {file}

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Quoting Davit

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{quote} Yes I agree I am watching for long on that as well. I am looking at 1.43 for good support.Too early to get in now. {image}

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Quoting KADC

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{quote} Slow is relative to the time frame. In the case of the resistive slow line in this chart, the previous line had been invalidated and taking it back to the prior high would defeat the purpose of using the 5-minute scale. Also, on the five minute chart I only care about the "slow" lines but I wanted to demonstrate how I determine a break of trend and my line placement as I've never come across this being illustrated anywhere (though neither have I looked extensively so it may very well be). Most RSI information I've come across is strictly...

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Quoting Starry

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{quote} Hey Davit, whats the other dot indicator you use in this chart, if you dont mind sharing?

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Quoting Starry

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I have a short near the middle of the pullback of the large spike and it appears that price is being support by the first red support. I am going to take profit at the second red circle, around 1.6305 or 1.6310, i think i expanded it a little too far. Currently at break even! Im going to check out that cool indicator, thanks Davit. {image}

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Quoting Davit

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{quote} My meta trader does not support arcs even though indicator is there by default.Kind of redundant to include a indicator which does not do what is sopposed to do.I love fib Arcs.MY TP is 59.5 I am willing to wait a month.

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Quoting Davit

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{quote} Daily open line.You can set the time frame which is correct for you.I set it NY close as New open day and that is industry standard. Its a quick way to see if daily bias is UP or Down and know exact open price.Some prefer London open as true open.Its relative to what you prefer. {file}

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Quoting Starry

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{quote} oh yeah, it is definitely going down current price action looks similar to the spike down on this chart, which i think i have stared at for an unusual amount of time while learning ratios ! Atleast, it reminds me of it. Im not sure if thats enough, but its good enough for me. edit: also, it appears that it is bearish now on the weekly , so that makes sense. {image}

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Quoting Starry

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{quote} Thanks, but it doesn't look like the indicator paints those yellow, green, and red dots you have on your chart for the highs and lows. Is it like a zigzag, except with dots? It looks good on the chart.

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