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Davit's Confluence Trading

  • #1,121
  • Jun 7, 2014 7:08pm Jun 7, 2014 7:08pm
Quoting gjgjg
{quote} Hi Chris and Spydy, I was actually going to post AuzJ and AuzCad when I next had access to my charts (not close to my trading PC right now) as i noticed on Friday they were approaching nice BB and RSI levels too, according to Sir Davit's system - but now I compare with spydy's chart I realize I have Sunday candles (like Chris') so would be seeing it differently to Spydy's too. Spydy, how does ACad look to you? Sorry I cant post my chart right now, but could compare tomorrow properly (unless Chris has that one loaded already?). From what...
Hi gjgjg,

Now on mine by the BB's.... A/CAD is scrumptious for looking at a possible short. A/NZD? Hmmm... the BB's look good as does that wicked daily hangman there. But I have a rather strong broken, tested and rejected SR there so I'd be watching that one but not jumping in right away yet I think. I haven't put fibs to either to keep them clean for this post but I will.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: audnzdmdaily.png Size: 73 KB
Ghost Rider - WWTBMD?
  • #1,122
  • Jun 7, 2014 7:16pm Jun 7, 2014 7:16pm
Quoting spyderman
{quote} A/Cads short of the BB's on mine too. {image} I think you're right about Davit's broker's. Comparing his G/F to mine it looks like he has a Sunday candle. At the end of the day it shouldn't make a world of difference. Chris, Yeah confluence is what it's all about. I've tried some of Nanningbob's indi's added to Davit's just to see if I can get anything. His is more trend following though where I would see Davit's of more of an anticipation of direction change in line with being overbought/sold and taking fundis into account. I like that...
Davit is a swing trader as am I (among other ways) so yes, always looking for the most probable turning points. 9 times out of 10 it's counter trend trade but in swings as you know, trend isn't the factor unless the fundamentals Davit follows is telling him not to trade it. I'm rather new to swing trading but I really like it. Find the setups, place your orders, be patient while they get filled and grab the moves. Quite relaxed and as Davit has shown very well here, profitable too.
Ghost Rider - WWTBMD?
  • #1,123
  • Jun 7, 2014 10:48pm Jun 7, 2014 10:48pm
Quoting spyderman
{quote} Alb, What are your settings on the BB's. For some reason mine are quite different. I'm a good 40 pips from dev. 2 on mine. RSI is short of the 70/80 as well {image}
Hi SP
Your RSI in the chart is 14 not 8. This will make huge difference.
Please check all your charts if using my system
1st BB deviation 2
2nd BB deviation 3
Everything else is default.Make sure your MA is 20
RSI 8

Please also be aware of ADR
This helps on counter trades.Example if pair travels 50pips last 20days and it went up 80 then it exceeded its range by 30pips hence CT makes sanse.
You will notice that most often when price is inside Div 2-3rd and rsi 70 you will find ADR is in access of its daily range.
Just adds more confluence hence thread title
Green pips


Thanks guys
In trading, you have to be defensive and aggressive at the same time
  • #1,124
  • Edited 11:04pm Jun 7, 2014 10:50pm | Edited 11:04pm
Quoting albchr
{quote} Hi gjgjg, Now on mine by the BB's.... A/CAD is scrumptious for looking at a possible short. A/NZD? Hmmm... the BB's look good as does that wicked daily hangman there. But I have a rather strong broken, tested and rejected SR there so I'd be watching that one but not jumping in right away yet I think. I haven't put fibs to either to keep them clean for this post but I will. {image} {image}
Nice finds Chris you are on a roll
Be little cautious on AN.On weekly you'll see how much room there is on up side.I am on sidelines on AN unless I see the behavior I like
AJ looks real good. I may join you guys on AJ
So far we got

AU
AJ
AC
all 3 in good short territory and all happened to be Aussy pairs.
In trading, you have to be defensive and aggressive at the same time
  • #1,125
  • Jun 7, 2014 11:22pm Jun 7, 2014 11:22pm
Quoting Davit
{quote} Hi A This is confluence trading which means everyone is welcome posting their method.Its not "system thread" I share how I trade but others trade differently like KADC,Chris etc Gist of this thread to find confluence which increases more edges on our side.This has nothing to do with vouches,colors. I do expect not asking questions when its explained already like "where is your template or indicators which is on 1st page links) Nothing wrong with your CCI/Stock approach I prefer RSI. I overlapped CCI14 with RSI8 to see how signals were coming...
Hi, yes as I mentioned I expect a retrace on Daily. My chart is actually on Weekly, so I believe we will see a down in another week or two. I am keeping track of my trades on all time frames but my current G/CHF short has been from long ago.
A 1 pip gain is better than a 1 pip loss.
  • #1,126
  • Jun 7, 2014 11:33pm Jun 7, 2014 11:33pm
Quoting Davit
{quote} Nice finds Chris you are on a roll Be little cautious on AN.On weekly you'll see how much room there is on up side.I am on sidelines on AN unless I see the behavior I like AJ looks real good. I may join you guys on AJ So far we got AU AJ AC all 3 in good short territory and all happened to be Aussy pairs.
I went to take a look at AUDNZD as you guys are and I'm looking to short this soon. Daily is already pushing lower after that pinbar. We may start heading down from next week on.
Attached Image(s) (click to enlarge)
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A 1 pip gain is better than a 1 pip loss.
  • #1,127
  • Jun 8, 2014 1:37am Jun 8, 2014 1:37am
calm before trading next week
http://4.bp.blogspot.com/-CL671b8s7R...tober+2013.JPG
In trading, you have to be defensive and aggressive at the same time
  • #1,128
  • Jun 8, 2014 2:34am Jun 8, 2014 2:34am
Quoting Davit
{quote} Nice finds Chris you are on a roll Be little cautious on AN.On weekly you'll see how much room there is on up side.I am on sidelines on AN unless I see the behavior I like AJ looks real good. I may join you guys on AJ So far we got AU AJ AC all 3 in good short territory and all happened to be Aussy pairs.
Hi guys, just remember these are all Aussie-Crosses, so if taking all positions, the risk grows trice position wise. Noticing that this rhymes adds more significance to keep this in mind

I still think AU might test the highs first, might even shoot up around 0.9450. AN is puzzling. Much depends on interest rates in the Kiwi and we will not know before next week what Wheeler comes up with.
Fix up, trade sharp ...
  • #1,129
  • Jun 8, 2014 3:43am Jun 8, 2014 3:43am
Quoting Davit
{quote} Nice finds Chris you are on a roll Be little cautious on AN.On weekly you'll see how much room there is on up side.I am on sidelines on AN unless I see the behavior I like AJ looks real good. I may join you guys on AJ So far we got AU AJ AC all 3 in good short territory and all happened to be Aussy pairs.
Hi Davit, hope you're having a great weekend.

I'm learning brother and I've only had a couple hours to look. Perhaps the weekend company has.....motivated me?

Yes I agree on AN. I make a list each weekend now. My "Likely To Trade" and "Eyes On" list. A/N is in the Eyes On column. I have the 3 you mention AU AJ AC and also GJ in the short column. Overall I'm actually bullish on AUD but I think a pullback is due prior to it's next climb. The perfect swing?

Been watching my GJ for some time now and I think she's ready for a pullback soon. My sweet spot levels are just a bit higher between the 78.6% and 88.6%. Even after the bounce just below the 78.6% I think she'll make it there. On daily, the RSI and BB's would seem to agree atm. RSI not topped yet, BB lowers running flat with a slight turn down and uppers turning up. Weekly shows upside room. Safe enough now to lay in some limits on open I believe. This fits with my views on both GU and UJ as well.
Attached Image (click to enlarge)
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Ghost Rider - WWTBMD?
  • #1,130
  • Jun 8, 2014 7:19am Jun 8, 2014 7:19am
Quoting albchr
{quote} Hi Davit, hope you're having a great weekend. I'm learning brother and I've only had a couple hours to look. Perhaps the weekend company has.....motivated me? Yes I agree on AN. I make a list each weekend now. My "Likely To Trade" and "Eyes On" list. A/N is in the Eyes On column. I have the 3 you mention AU AJ AC and also GJ in the short column. Overall I'm actually bullish on AUD but I think a pullback is due prior to it's next climb. The perfect swing? Been watching my GJ for some time now and I think she's ready for a pullback...
Good morning Chris
GJ looks real good as well
I still have not closed my shorts on EU (10 shorts) and GU (6 shorts)
16 orders running so before adding more I need to have these legs reach destinations.I will watch Aussy dollar behavior on all fronts
regards
In trading, you have to be defensive and aggressive at the same time
  • #1,131
  • Jun 8, 2014 7:26am Jun 8, 2014 7:26am
Quoting Hickson
{quote} Hi guys, just remember these are all Aussie-Crosses, so if taking all positions, the risk grows trice position wise. Noticing that this rhymes adds more significance to keep this in mind I still think AU might test the highs first, might even shoot up around 0.9450. AN is puzzling. Much depends on interest rates in the Kiwi and we will not know before next week what Wheeler comes up with.
Funny thing I had the same thoughts as well.Trading 3 Aussie pairs increases overall exposure but if one trades small within account that should not be difficult.
Normally I would of chose 1 out of 3 lets say AC which appeals to me and hammer hard 10-15 orders then its equivalent trading 4-5pairs.
So my focus is singling out best pair and drilling it hard.Its pretty much same in the wild like lion pack attacking single animal instead of every lion chasing every prey...
regards
In trading, you have to be defensive and aggressive at the same time
  • #1,132
  • Jun 8, 2014 7:30am Jun 8, 2014 7:30am
Quoting Davit
{quote} Funny thing I had the same thoughts as well.Trading 3 Aussie pairs increases overall exposure but if one trades small within account that should not be difficult. Normally I would of chose 1 out of 3 lets say AC which appeals to me and hammer hard 10-15 orders then its equivalent trading 4-5pairs. So my focus is singling out best pair and drilling it hard.Its pretty much same in the wild like lion pack attacking single animal instead of every lion chasing every prey... regards
Or a pike in cold winter water. Lurking on the ground, the pike waits for a big fish to pass by, not worrying about all the small bait fish. He needs to put his money (energy) on the big meal to survive until the next sprint.
Fix up, trade sharp ...
  • #1,133
  • Jun 8, 2014 7:35am Jun 8, 2014 7:35am
Quoting Hickson
{quote} Or a pike in cold winter water. Lurking on the ground, the pike waits for a big fish to pass by, not worrying about all the small bait fish. He needs to put his money (energy) on the big meal to survive until the next sprint.
Looks like you have been reading
That's great!
On Chess News I am taking my son 15yr 2020 rating to Aronian chess camp (2nd best player in the world) in LA next month for week of master class training
kind excited to meet him myself.
In trading, you have to be defensive and aggressive at the same time
  • #1,134
  • Jun 8, 2014 7:49am Jun 8, 2014 7:49am
Quoting Davit
{quote} Looks like you have been reading That's great! On Chess News I am taking my son 15yr 2020 rating to Aronian chess camp (2nd best player in the world) in LA next month for week of master class training kind excited to meet him myself.
Actually, I was using my life-long fishing experience here Wow, the Aronian chess camp. That will be great! I have been to Dortmund Open 2007 and Dresden Olympiad 2008 to see a lot of the world's leading GMs. You can also learn from their patience.
Fix up, trade sharp ...
  • #1,135
  • Jun 8, 2014 7:53am Jun 8, 2014 7:53am
Quoting Davit
{quote} Good morning Chris GJ looks real good as well I still have not closed my shorts on EU (10 shorts) and GU (6 shorts) 16 orders running so before adding more I need to have these legs reach destinations.I will watch Aussy dollar behavior on all fronts regards
I'm expecting a pullback on GU after market open to "hopefully" around 6760/30ish from which to go long to higher targets. EU? I also expect some pullback down if not a flat out fall before some upside correction. So in both cases I feel your open shorts are In good hands the first day or two this week.

I really don't trade EU anymore but I may jump on the long correction train soon to come.

This projection I made on (and before) May 30th remains my view on GU atm. I actually think more than the 61.8 will be reached but that's getting ahead of myself a bit and remains to be seen. If it goes that way at all.
Attached Image (click to enlarge)
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Ghost Rider - WWTBMD?
  • #1,136
  • Jun 8, 2014 8:00am Jun 8, 2014 8:00am
Quoting Hickson
{quote} Actually, I was using my life-long fishing experience here Wow, the Aronian chess camp. That will be great! I have been to Dortmund Open 2007 and Dresden Olympiad 2008 to see a lot of the world's leading GMs. You can also learn from their patience.
If you have not read Nial Fuller's article on Trading please do
Almost exact words
In trading, you have to be defensive and aggressive at the same time
  • #1,137
  • Jun 8, 2014 8:03am Jun 8, 2014 8:03am
Quoting Davit
{quote} If you have not read Nial Fuller's article on Trading please do Almost exact words
Yeah, I have read that. Btw, Pikes also keep their SL in place. If they miss, they do not chase it. They preserve their energy for the next big catch.
Fix up, trade sharp ...
  • #1,138
  • Jun 8, 2014 8:08am Jun 8, 2014 8:08am
Quoting albchr
{quote} I'm expecting a pullback on GU after market open to "hopefully" around 6760/30ish from which to go long to higher targets. EU? I also expect some pullback down if not a flat out fall before some upside correction. So in both cases I feel your open shorts are In good hands the first day or two this week. I really don't trade EU anymore but I may jump on the long correction train soon to come. This projection I made on (and before) May 30th remains my view on GU atm. I actually think more than the 61.8 will be reached but that's getting...
My main focus is on EU
I like trading EU because its cheap and fundamentals pretty clear.It is the most liquid and perhaps most manipulated in terms of MM spiking hitting stops making retail traders life miserable but I still like it more then GU
EU sets the tone for all Euro/CHF based pairs so even if you are not trading EU directly you are trading indirectly like your recent short on G/CHF which is same as E/G so you get bumped to it anyway.
I like your new focus on trading.To give you inspiration Richard Dennis (market wizards) took $400 to 200 million
Make it to 250k still beautiful

Interview with Richard Dennis
http://www.curatedalpha.com/2011/cur...arket-wizards/
In trading, you have to be defensive and aggressive at the same time
  • #1,139
  • Jun 8, 2014 8:31am Jun 8, 2014 8:31am
Quoting Hickson
{quote} Yeah, I have read that. Btw, Pikes also keep their SL in place. If they miss, they do not chase it. They preserve their energy for the next big catch.
should be fun June
Date of importance June 11th

 

  1. Deposit facility interest rate cut effective as of 11 June 2014
  2. Negative rate to apply also to average reserve holdings in excess of the minimum reserve requirements and other deposits held with the Eurosystem

When deciding to lower the key ECB interest rates at its meeting today, the Governing Council of the ECB took the decision to cut the interest rate on the deposit facility to -0.10%.


Does not seem much but it sets the tone,the sentiment

In trading, you have to be defensive and aggressive at the same time
  • #1,140
  • Jun 8, 2014 8:36am Jun 8, 2014 8:36am
Quoting Davit
{quote} My main focus is on EU I like trading EU because its cheap and fundamentals pretty clear.It is the most liquid and perhaps most manipulated in terms of MM spiking hitting stops making retail traders life miserable but I still like it more then GU EU sets the tone for all Euro/CHF based pairs so even if you are not trading EU directly you are trading indirectly like your recent short on G/CHF which is same as E/G so you get bumped to it anyway. I like your new focus on trading.To give you inspiration Richard Dennis (market wizards) took $400...
EU was one of my main 4 pairs for a long time (EU, GU, EJ, GJ). Now I call it "Pee Yew" It costs less per pip but for me it "costs" no matter what with negative swap either way. Small swaps but still negative. It's the manipulation you speak of that bothers me most. Actually, I find myself pulling back a bit from all USD pairs. Too many Funny Mentals (lies) going on with them anymore. I know they are the base for many pairs I do like but....

My new focus is in no small part do to you Davit. ...

I have bookmarked the link. My guests are beginning to wake so I'll be running off soon. The gorgeous weather and pool await another nice day. I "think" you gave that one to me before but I read it and see. Many thanks.
Ghost Rider - WWTBMD?
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