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Davit's Confluence Trading

  • #801
  • May 21, 2014 12:43pm May 21, 2014 12:43pm
Quoting godim
{quote} {image} {image}
Hi Godim
Thanks for dropping by.I will look into the material
Regards
In trading, you have to be defensive and aggressive at the same time
  • #802
  • May 21, 2014 12:45pm May 21, 2014 12:45pm
Quoting gjgjg
Hi Davit, are you watching D1 of GBPNZD and NZDJPY? The are technically coming into a nice zone (however I didnt check any fundi aspects of this and the majors may not lend themselves to trades right now, but just wanted to get your take on them as they approach the BB RSI trade window combination). sorry cant post pics right now... cheers
Hi friend I am already very engaged on GU 11 short positions so its matter of waiting now.Don't like over trading.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #803
  • May 21, 2014 12:47pm May 21, 2014 12:47pm
Quoting Lalu
{quote} Thanks for the ew image - very useful - it's something I plan to have some understanding of but not get lost in. It's almost like a religion for some. Took another slug at 6915.
My preference is harmonics but harmonics is component of EW very interrelated.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #804
  • May 21, 2014 12:50pm May 21, 2014 12:50pm
Quoting gjgjg
Hi Davit, are you watching D1 of GBPNZD and NZDJPY? The are technically coming into a nice zone (however I didnt check any fundi aspects of this and the majors may not lend themselves to trades right now, but just wanted to get your take on them as they approach the BB RSI trade window combination). sorry cant post pics right now... cheers
Hi Gjgjg

Took this tade last night. Regards

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Live today like theres no tomorrow-- Prioritize like you will die today
  • #805
  • May 21, 2014 12:53pm May 21, 2014 12:53pm
Short G/CHF 5098 2x
Too good to pass up
Notice whopping ADR of 130pips!!!! in 1 day
This baby is overreached
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In trading, you have to be defensive and aggressive at the same time
  • #806
  • May 21, 2014 1:09pm May 21, 2014 1:09pm
Quoting iamsovereign
{quote} Hi Gjgjg Took this tade last night. Regards {image}
Just noticed the buy
You got your SL and high probability spot.My orders are mostly short and my first instinctiv reaction is looking the top part of chart...lol
Good luck
In trading, you have to be defensive and aggressive at the same time
  • #807
  • May 21, 2014 1:17pm May 21, 2014 1:17pm
Quoting Davit
{quote} Just noticed the buy You got your SL and high probability spot.My orders are mostly short and my first instinctiv reaction is looking the top part of chart...lol Good luck
Davit- I thank you for the input. I will ck it out... Also, I have had great starting succsess with your method, like it a lot

while I got ye - like the art you have shown!

Also thanks for the gbp/chf tip

Regards
Live today like theres no tomorrow-- Prioritize like you will die today
  • #808
  • May 21, 2014 1:28pm May 21, 2014 1:28pm
Quoting iamsovereign
{quote} Davit- I thank you for the input. I will ck it out... Also, I have had great starting succsess with your method, like it a lot while I got ye - like the art you have shown! Also thanks for the gbp/chf tip Regards
Jams
Method works but sometimes fails when trend is very strong like NU AU and EU fall.So that's why its called confluence trading.
Fundamentals play a huge part.If dollar is gaining cross the majors then you don't want to be on wrong side even when system says buy.
This is why I am not huge believer in systematic approach to trading because systems most part don't filter out news and fundies.
Its like painting.You must step back always to see the painting instead of being so close that you only see a detail.
Thanks for your comments on my work!Appreciated.
REgards
In trading, you have to be defensive and aggressive at the same time
  • #809
  • Edited 6:18pm May 21, 2014 5:20pm | Edited 6:18pm
Quoting Davit
Short G/CHF 5098 2x Too good to pass up Notice whopping ADR of 130pips!!!! in 1 day This baby is overreached {image}
It seems a good price for making some investments into short by daily CCI divergence additively.
My sentiments exactly.
I've also taken some shorts with GBPPLN (@ 5.1544)
FXcube
  • #810
  • May 21, 2014 5:33pm May 21, 2014 5:33pm
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Ghost Rider - WWTBMD?
  • #811
  • May 21, 2014 8:08pm May 21, 2014 8:08pm
Quoting Davit
{quote} Jams Method works but sometimes fails when trend is very strong like NU AU and EU fall.So that's why its called confluence trading. Fundamentals play a huge part.If dollar is gaining cross the majors then you don't want to be on wrong side even when system says buy. This is why I am not huge believer in systematic approach to trading because systems most part don't filter out news and fundies. Its like painting.You must step back always to see the painting instead of being so close that you only see a detail. Thanks for your comments on...
Davit,

As for confluence, I am using fundies, supply and demand, S & R, some fibs and trying to read the PA for the intent behind it-
(the vid you posted by jason jankovsky is exelent).

As for TIMEING- I will put in a limit order when I see confluence, and cking fundies and the RSI on D, H4, H1 are ALL in the over bought area. I am using the RSI as my main trigger to enter on the H1 TF (this is the waiting part ).

As for exit- still trying to work this out, I am trying to NOT sell untill mid line of BB or to the other side of BB-1. depending on how the pair are trending. It kills me to see six trades in profit one hour and then be negative the next hour. Like I said - Im still working on this.


I hate to enter to early and I have made a hard rule to not enter if I am to late and sometimes look for a retrace to enter. The corelations between the majors and crosses, is a little new to me and I know its important to understand how that works, so Im on it and just need to spend more time on that understanding.
I thank you for your time
Live today like theres no tomorrow-- Prioritize like you will die today
  • #812
  • May 21, 2014 10:31pm May 21, 2014 10:31pm
First buy limit order last night
Went down more- put in second buy limit order
The news spiked it up- tonight- had no idea this would happen
lets see how it turns out.

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Live today like theres no tomorrow-- Prioritize like you will die today
  • #813
  • May 21, 2014 10:46pm May 21, 2014 10:46pm
Hey Davit,

How can I get the link to the detailed confluence trading guide? I would love to follow it up as I gain more experience in trading.

Thank you for the good guidance though
  • #814
  • May 22, 2014 12:04am May 22, 2014 12:04am
Quoting shome
Hey Davit, How can I get the link to the detailed confluence trading guide? I would love to follow it up as I gain more experience in trading. Thank you for the good guidance though
Hi Shome
There is no guide.My thread is process of my learning to trade and I share insights that helps me.
Confluence in nut shell is putting as many edges on your side.
Fibs
Harmonics
S/R
Sentiment
Fundamental shift like last ECB meeting
My system and how that fits in.

When you start trading more you start seeing things that make sense.
I'll give you solid example
I was shorting NU from 87 heavy
I had guys telling me its going to 88-90 and one person even was screaming for 1.00
I had solid understanding that small New Zealand economy can't function currency at very high level.
What fallowed was interesting milk prices fell dramatically and NU dropped like a rock.This may not seem much but taking account 30% of NZ economy is dairy related then you see the significance.
This is not shown on charts.Example why its important to know more what you are trading.It gives you confidence to go bigger lots when you got max edge on your side.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #815
  • May 22, 2014 12:07am May 22, 2014 12:07am
Quoting iamsovereign
First buy limit order last night Went down more- put in second buy limit order The news spiked it up- tonight- had no idea this would happen lets see how it turns out. {image}
Jams
Looks like you are in profit
You can bank it and wait to buy lower or take chance for higher up.
Personally I would close both trades.I anticipate AU going lower.
In trading, you have to be defensive and aggressive at the same time
  • #816
  • May 22, 2014 12:10am May 22, 2014 12:10am
Quoting Forexcube
{quote} It seems a good price for making some investments into short by daily CCI divergence additively. My sentiments exactly. I've also taken some shorts with GBPPLN (@ 5.1544) FXcube
FXcube
Nice of you to drop on my journal
Green pips
My brokers don't offer GBP/PLN
Regards
In trading, you have to be defensive and aggressive at the same time
  • #817
  • May 22, 2014 12:12am May 22, 2014 12:12am
Quoting albchr
{image}
Hope it works out.Just be patient.
Regards

I am short GU 11 positions and .5% DD now and I am strangely massively relaxed.
I know its just matter of waiting.
In trading, you have to be defensive and aggressive at the same time
  • #818
  • May 22, 2014 1:11am May 22, 2014 1:11am
Quoting Davit
{quote} My preference is harmonics but harmonics is component of EW very interrelated. Regards
Good morning Davit,
A retrace to 618 has taken place but not quite 786. Also a reversion to pivot has now completed. With that out of the way where next? If it's the wave 3 big down then will it plummet straight down from here leaving behind such a wealth of liquidity so close behind? Possibly but I will not be surprised to see a liquidity search/stop hunt first which could see a test and attempted break of the range top.

Regards

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It's all about bucks, kid. The rest is conversation.
  • #819
  • May 22, 2014 1:21am May 22, 2014 1:21am
Quoting Lalu
{quote} Good morning Davit, A retrace to 618 has taken place but not quite 786. Also a reversion to pivot has now completed. With that out of the way where next? If it's the wave 3 big down then will it plummet straight down from here leaving behind such a wealth of liquidity so close behind? Possibly but I will not be surprised to see a liquidity search/stop hunt first which could see a test and attempted break of the range top. Regards {image}
I don't have the answers but I do know we need to be patient
Check this out
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In trading, you have to be defensive and aggressive at the same time
  • #820
  • May 22, 2014 2:14am May 22, 2014 2:14am
Quoting Davit
{quote} Hope it works out.Just be patient. Regards I am short GU 11 positions and .5% DD now and I am strangely massively relaxed. I know its just matter of waiting.
Yeah .5% is nothing. The good news is, by the looks of it, your sell limits will get hit too and then we can ride her down together.

Still targeting 7000+ with my longs. Will have to see what the news is later.

Best wishes and green pips brother
Ghost Rider - WWTBMD?
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