Forex Trading 2018- TA/FA- Setups and discussion

Originally posted by Cooder ↑

Hi Rick, I always trade Sup. Res. It starts off as Supply & Demand. What I look for is
a Bullish candle with a higher high than the next big Bear candle. They can be a couple
of candles apart. I don't trade the big move down but hope for a quick return to the zone
marked in blue where I wait for a possible short entry. If it plays out I take the trade and
that area now becomes a Res. zone. Ditto for the bottom, which becomes Sup.
I trade the range for as long as possible , if there is a break above or below I then wait
for a retest of the breakout point for possible trades. They sometimes don't come back
so I look for another zone further down or up, whatever the case may be. It could also be on
the 1H chart. I make up my initial zones on Sundays on Daily 4H & 1H charts. so there
are plenty of trades to be found. Because I only trade Asia I like to get an entry between 7am
and 5 - 7 pm. If the charts show an entry set-up happened overnight I will enter on opening
candle, if the overnight move isn't too big. Didn't like the big gap down on EURCAD this
morning so will watch it for a while. Like you say could be short, could be long, if it breaks
above Res. Using a TDI indicator now to replace the RSI and AO. does the same job and
is better with divergence. I can't remember the name of the website where I downloaded
from, but the guy was using it trading pivot levels and after using it for a few months it
works well.
EC 1H & 4H chart
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Hi Cooder

Your trading strategy will work better without the TDI in my opinion.
I have used the TDI indicator for years, still like it but don't need it any longer. I probably stopped using it around 3 years ago. Using the Divergence with it is the secret.

Full Disclosure - I offen mention a group of traders I trade forex with which focuses on multiple entry's, multiple exits. We are in fact a group of ex- TDI traders who move on to Price Action Support & Resistance trading where we use smart money management to make our money. We basically trade the Day Chart swings with multiple entry's on Candle stick charts with a couple of EMA's. I could tall about the TDI for hours and some of the major traders who have, or still do use that indicator. The trader you are talking about is called "Davit"

Other famous TDI traders are " Xman " " Eelfranz " and I should mention the designer of the indicator Dean Malone.

I would use these settings 10 / 7 /3 instead of 13 / 7 / 2 because the markets have changed over the last 10 years when it was first designed.