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Are you following my trades ?


  • Total voters
    20
  • Poll closed .

Tryingtrader

Sergeant
Messages
192
Perhaps the minor differences could be accounted for by the different spreads of the different platforms?
I have no idea how the 20 pip difference occurs... just another of the mysteries of Forex.
 

Brett Reynolds

Sergeant Major
Messages
868
Now the location of the TDST line throws up a conundrum which has long worried me with this Forex game.
To make my point I attach a daily NZD CAD chart with a simple candle numbering indicator. It is based on my Infinox chart.
Your TDST line is from the low of candle 21. Infinox gives the low as 0.88158, Go Australia have 0. 88139, Oanda 0.88149. I can live with discrepancies like that. But FX Choice give the low as 0.88013 !
Perhaps worse still a quick look at my chart suggests that the TDST should be from the low of candle 22, as this closed higher then the close of candle 27. Oanda and GoMarkets charts lead to the same conclusion.
The 4 platforms give the low of that candle in a fairly tight range of 0.87760 to 0.8780 but in any event our TDST line would be 20 pips away from that given from solely using the FX choice platform.

In the past I have tended to assume that where 2 or 3 platforms give a similar reading they are likely more accurate than one platform giving a different reading. Is there something I should learn here?

View attachment 60084
For this week i am targeting 89.50! It's a good level just below Roger's TP. There is BOC Interest rates tomorrow...so could be good opportunity trade any 'spike'...if you like to 'Play' the Fundamentals that is!? :cool:
 

RogerTC

Special Consultant to the FPA
Messages
326
Now the location of the TDST line throws up a conundrum which has long worried me with this Forex game.
To make my point I attach a daily NZD CAD chart with a simple candle numbering indicator. It is based on my Infinox chart.
Your TDST line is from the low of candle 21. Infinox gives the low as 0.88158, Go Australia have 0. 88139, Oanda 0.88149. I can live with discrepancies like that. But FX Choice give the low as 0.88013 !
Perhaps worse still a quick look at my chart suggests that the TDST should be from the low of candle 22, as this closed higher then the close of candle 27. Oanda and GoMarkets charts lead to the same conclusion.
The 4 platforms give the low of that candle in a fairly tight range of 0.87760 to 0.8780 but in any event our TDST line would be 20 pips away from that given from solely using the FX choice platform.

In the past I have tended to assume that where 2 or 3 platforms give a similar reading they are likely more accurate than one platform giving a different reading. Is there something I should learn here?

View attachment 60084
Hi Gwynfor,

I would recommend sticking to one broker only and disregard others. This is daily timeframe and NZDCAD market. We are not really trying to identify an exact magic level. In the past I spent weeks/months comparing data's of different brokers. Doesn't really worth. If the market just retrace back from TDST at 0.8801 at FXchoice it will most likely retrace from 0.8813 in Go Australia. Based on my past experiences.. Not only TDST levels differ but Fib levels differ as well.

Regards,
 

kris82

Private, 1st Class
Messages
43
Roger, can you show the setup for NZDCAD to go short? Was is weekly F5 resistance+controlled XOP+TDST Sell?
And BTW USD/RUB nice setup if we get there? XOP+F5+TDST Buy on weekly?
 

Attachments

  • USDRUB.jpg
    USDRUB.jpg
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RogerTC

Special Consultant to the FPA
Messages
326
Hello, sorry for the stupid question but what means TDST?
Well, Actually it is a good question.

Mr DeMark refers to TDST as T (Tom) D (DeMark) S (Setup) T (Trend). After a TD Buy setup has formed the high of the first bar in the sequence is the TDST and considered to be the market resistance level, it is where the momentum began to accelerate. The opposite applies after a TD sell setup has formed the low of the first bar in the sequence is the TDST support level.

You can study attached Jason Perl s book.

Hope that helps
 

Attachments

  • DeMark Indicators-Jason Perl.pdf
    4.1 MB · Views: 34

RogerTC

Special Consultant to the FPA
Messages
326
Roger, can you show the setup for NZDCAD to go short? Was is weekly F5 resistance+controlled XOP+TDST Sell?
And BTW USD/RUB nice setup if we get there? XOP+F5+TDST Buy on weekly?
Havent reached the controlling XOP.

NZDCADWeekly.png
 
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gwynfor

Private, 1st Class
Messages
50
Hi Roger,

Thanks for the Jason Perl book. Should keep us busy for a while.

In the meantime I notice the EUR NZD sell order at 1.7343 is still open. In my own little mind I had this based on the XOP attached.

But does the fact that market has fallen below point C devalue the fib extension here ?

2020 12 10 EURNZDH4.png
 

RogerTC

Special Consultant to the FPA
Messages
326
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