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Davit's Confluence Trading

  • #1,181
  • Jun 10, 2014 1:50am Jun 10, 2014 1:50am
Quoting azfarjaved
{quote} Dear, Where is TP? Kindly share.
9 posts above yours.

Folks please, spend a little time reading some of the posts before asking questions. I'd recommend reading the whole thread. It's not that long and keeping it short depends largely on not having to answer the same questions over and over again.

Every bit of "detailed" information you'd need to understand Davit's approach is already here. Including all MT4 files and templates.

Let's try to respect Davit's efforts here by keeping his thread as short, and informative as possible so it's easy to read and understand.
Ghost Rider - WWTBMD?
  • #1,182
  • Edited 2:09am Jun 10, 2014 1:58am | Edited 2:09am
Quoting albchr
{quote} 9 posts above yours. Folks please, spend a little time reading some of the posts before asking questions. I'd recommend reading the whole thread. It's not that long and keeping it short depends largely on not having to answer the same questions over and over again. Every bit of "detailed" information you'd need to understand Davit's approach is already here. Including all MT4 files and templates. Let's try to respect Davit's efforts here by keeping his thread as short, and informative as possible so it's easy to read and understand.
Thanks Chris
To add to your comment beginners expecting my trades to be winners are delusional.I could go 100 losing trades in a row(although never happened yet).So don't automatically follow.In trading its your money your risk!
So when placing orders your TP is whatever you want it to be.Market dictates TP.Is it range? or trending.If ranging then why expect trending TP when 20-50pips would be fine.This is why answering TP questions are difficult.
Regards Chris nice Job on 87pips gain
In trading, you have to be defensive and aggressive at the same time
  • #1,183
  • Jun 10, 2014 2:02am Jun 10, 2014 2:02am
Some trades need time and requires patience to be profitable
CNTrader at times waits for weeks. I have as well multiple times.This is swing trading folks not scalping method.

Added 4 more trades on AU at 9370
I am at present running tiny DD but potential to make serious pips is right on the corner.Patience!
In trading, you have to be defensive and aggressive at the same time
  • #1,184
  • Jun 10, 2014 2:07am Jun 10, 2014 2:07am
Dear Davit and Chris,
Many thanks for advice. I'll follow for sure.
Regards,
Azfar
  • #1,185
  • Jun 10, 2014 2:14am Jun 10, 2014 2:14am
Quoting Davit
{quote} Chris nice Job on 87pips gain
Thanks Davit. I know I could have held for a few more on some like the Dragon and UJ but the time to bank was right for me. More chances await.

AU? ... BB and RSI gives a little more upside room. In with one, waiting on another. Big resistance just above at 0.94076.
Attached Image (click to enlarge)
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Ghost Rider - WWTBMD?
  • #1,186
  • Jun 10, 2014 2:14am Jun 10, 2014 2:14am
Quoting Davit
Some trades need time and requires patience to be profitable CNTrader at times waits for weeks. I have as well multiple times.This is swing trading folks not scalping method. Added 4 more trades on AU at 9370 I am at present running tiny DD but potential to make serious pips is right on the corner.Patience!
Former Resistance on daily is broken, so technically A/U can go to 0.9450 +. Would not add now until it shows clear bearish signs.
Fix up, trade sharp ...
  • #1,187
  • Jun 10, 2014 2:20am Jun 10, 2014 2:20am
Quoting Hickson
{quote} Former Resistance on daily is broken, so technically A/U can go to 0.9450 +. Would not add now until it shows clear bearish signs.
Hi Hickson
I disagree nothing is broken
regards
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #1,188
  • Jun 10, 2014 2:22am Jun 10, 2014 2:22am
Quoting Davit
Some trades need time and requires patience to be profitable CNTrader at times waits for weeks. I have as well multiple times.This is swing trading folks not scalping method. Added 4 more trades on AU at 9370 I am at present running tiny DD but potential to make serious pips is right on the corner.Patience!

Dear Davit thanks for creating this thread and sharing your years of experience ,

yeah Patience is everything ,,i see Patience on CNTrader ,Mr.Scott and in You Davit,,,

learning from your Thread... Best wish always for you Dear Davit
  • #1,189
  • Jun 10, 2014 2:24am Jun 10, 2014 2:24am
Quoting albchr
{quote} Thanks Davit. I know I could have held for a few more on some like the Dragon and UJ but the time to bank was right for me. More chances await. AU? ... BB and RSI gives a little more upside room. In with one, waiting on another. Big resistance just above at 0.94076. {image}
I agree there is room still on up side but we are in sell zone
Weds is important
Attached Image
In trading, you have to be defensive and aggressive at the same time
  • #1,190
  • Jun 10, 2014 2:24am Jun 10, 2014 2:24am
Quoting Davit
{quote} Hi Hickson I disagree nothing is broken regards {image}
I have 0.9352 on daily resistance. But still some resistance around 0.9370, agree. Anyway, with small positions it should be managable anyhow.
Fix up, trade sharp ...
  • #1,191
  • Jun 10, 2014 2:26am Jun 10, 2014 2:26am
Quoting Davit
{quote} Hi Hickson I disagree nothing is broken regards {image}
I agree Davit I see nothing broken (yet) either.

Good morning Hickson

Could you show us what you're looking at with a chart? It's always possible one see's something others do not. I don't see it but that doesn't mean it's not there. Thanks buddy
Ghost Rider - WWTBMD?
  • #1,192
  • Jun 10, 2014 2:26am Jun 10, 2014 2:26am
Quoting mmhasan
{quote} Dear Davit thanks for creating this thread and sharing your years of experience , yeah Patience is everything ,,i see Patience on CNTrader ,Mr.Scott and in You Davit,,, learning from your Thread... Best wish always for you Dear Davit
You welcome! Trade small and gain experience without breaking the bank.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #1,193
  • Jun 10, 2014 2:29am Jun 10, 2014 2:29am
Quoting albchr
{quote} Thanks Davit. I know I could have held for a few more on some like the Dragon and UJ but the time to bank was right for me. More chances await. AU? ... BB and RSI gives a little more upside room. In with one, waiting on another. Big resistance just above at 0.94076. {image}

Good morning Davit et al,
I’m looking for the next entry on AU. There’s some confluence just above 94, as Chris pointed out, so that’s what I’ll target. I’ve been mulling over a long in EU but given the general conditions I feel that it would leave me feeling very on edge. As traders we have to control that demon because once it squirts its mischief into our minds it can infect everything we are doing. So I’m happy to watch that shoot the moon – if only – and focus on shorts. And anyway I expect large pools of stops are gathering not far below in expectation of the move up so path of least resistance could still be down for a bit even if we are to expect a charge north.

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It's all about bucks, kid. The rest is conversation.
  • #1,194
  • Jun 10, 2014 2:34am Jun 10, 2014 2:34am
Quoting albchr
{quote} I agree Davit I see nothing broken (yet) either. Good morning Hickson Could you show us what you're looking at with a chart? It's always possible one see's something others do not. I don't see it but that doesn't mean it's not there. Thanks buddy
Good morning Chris, that should make it more clear:
Attached Image (click to enlarge)
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Fix up, trade sharp ...
  • #1,195
  • Jun 10, 2014 2:39am Jun 10, 2014 2:39am
Quoting Lalu
{quote} Good morning Davit et al, I’m looking for the next entry on AU. There’s some confluence just above 94, as Chris pointed out, so that’s what I’ll target. I’ve been mulling over a long in EU but given the general conditions I feel that it would leave me feeling very on edge. As traders we have to control that demon because once it squirts its mischief into our minds it can infect everything we are doing. So I’m happy to watch that shoot the moon – if only – and focus on shorts. And anyway I expect large pools of stops are gathering not far...
Good morning Lalu

Beautiful chart (as always) and excellent plan in my book. I don't really trade it but I too see further down on EU after a (likely?) spike to perhaps 3640+ish? I hold a scalp long on GU @ 6804 with a 13 pip SL but this is based solely on my 233 testing. Not "expecting" anything just want to see how it goes. First live test and all.
Ghost Rider - WWTBMD?
  • #1,196
  • Edited 2:49am Jun 10, 2014 2:39am | Edited 2:49am
Quoting Hickson
{quote} Good morning Chris, that should make it more clear: {image}
Hickson
S/R is a zone not a specific number

How To Draw Support and Resistance Levels Like A Professional

http://www.learntotradethemarket.com...istance-levels
Myth 2: Your S/R (support and resistance) levels should always be drawn across the exact highs or lows of price bars – This is perhaps the biggest myth that traders have about drawing levels on their charts. Often times, support and resistance are more “zones” than exact “levels”, sometimes you will have a key level that is indeed an exact level, but more often than not we are going to be drawing our support and resistance lines midway through bar tails or even through the body of a bar sometimes. Point being, you don’t always have to draw the level exactly through the high or low of the bar

http://www.forexfactory.com/attachme...1&d=1402384829
Yellow box is clear obvious resistance
I like Nial Fuller a lot.His articles are brilliant.He basically trades similarly as I daily chart.
In trading, you have to be defensive and aggressive at the same time
  • #1,197
  • Jun 10, 2014 2:47am Jun 10, 2014 2:47am
Quoting albchr
{quote} Good morning Lalu Beautiful chart (as always) and excellent plan in my book. I don't really trade it but I too see further down on EU after a (likely?) spike to perhaps 3640+ish? I hold a scalp long on GU @ 6804 with a 13 pip SL but this is based solely on my 233 testing. Not "expecting" anything just want to see how it goes. First live test and all.
3650-60 would be nice.Have 4limits waiting
In trading, you have to be defensive and aggressive at the same time
  • #1,198
  • Jun 10, 2014 2:54am Jun 10, 2014 2:54am
Quoting Hickson
{quote} Good morning Chris, that should make it more clear: {image}
Thank you sir. I see what you're looking at. After you specified a price in your last post I marked it on my chart as well (yellow line). Based on the last grouping of daily sticks marked with arrows, I can understand your thinking here. I always remind myself that SR (especially on big charts) are areas or zones and not a line. Lines in the sand can certainly be found on the smaller charts i.e. pinpointing bounce/turn levels.

As Lalu and you correctly point out, price can easily reach 09407 or higher. Heck, it could break right though. Personally I don't think it will but who knows? As you also correctly point out, in swing trading we build our "smaller" positions to a likely top and await the correction hoping we're right of course...lol.

I'm sure you already know all this but it makes a good point on swing with confluence trading for others to read I hope.

EDIT: Davit beat me too it...LOL
Attached Image (click to enlarge)
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Ghost Rider - WWTBMD?
  • #1,199
  • Jun 10, 2014 2:59am Jun 10, 2014 2:59am
Quoting Davit
{quote} 3650-60 would be nice.Have 4limits waiting
Yes, around daily center BB area is where I'm looking. I also have 4H and 1H SR's between 3640 and 3670.
Ghost Rider - WWTBMD?
  • #1,200
  • Jun 10, 2014 3:10am Jun 10, 2014 3:10am
Quoting albchr
{quote} Yes, around daily center BB area is where I'm looking. I also have 4H and 1H SR's between 3640 and 3670.
I already banked my last batch of shorts on EU and waiting to repeat.

UK red news in 20min
isn't great to have it on your chart? Have 6 shorts on GU love to get out of them
In trading, you have to be defensive and aggressive at the same time
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