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Intro

letitride's picture
Posted June 5th, 2008 by letitride

Hi phil and members!!Laughing

 

I just joined the site today. I'm from Australia and moving to Vietnam in a couple of months. I'm currently trading fulltime but not profitably. I demoed for 6mths and have been trading the last 4mths live. I had a great first month live swing trading using bounces off confluence. But then I lost my discipline after setups became few and far between and have been struggling ever since. I'm back to demoing until I can build my confidence back up again to go live. Look forward to interacting with everyone and learning to become profitable consistently. 

 

Cheers

James 

 

 

 

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Confluence

blink's picture
On June 5th, 2008 blink says:

Hello James,

 I notice you slipped the word  'confluence' into your intro. Are you a DiNapoli student?

Cheers.

Graham 

Confluence

letitride's picture
On June 5th, 2008 letitride says:

Hi Graham

No mate!! I use it in reference to having a number of factors coming together at a certain price area. For example having price bounce off a fibbo,a moving average,and a previous swing high/low at the same area  gives me more confidence that price will hold and reverse to continue with the current trend. Thats what I call confluence.

 I hope that makes sense

cheers

james 

confluence

blink's picture
On June 5th, 2008 blink says:

Makes perfect sense. DiNapoli uses it in the context of  38 and 61 fib retracements coming together to provide support /residtance and used as leading indcators.

 Cheers.

 Graham.