Trend vs Counter Trend – Technical Analysis 3

Featuring Dave Floyd

In the third installment of his popular new series, Dave Floyd builds on the platform you’ve learned so far in establishing the trend, as he now asks the question: Are you a trend or counter trend trader?

Published on
6 February, 2017
Topic
Trading, Technical Analysis, Psychology
Duration
19 minutes
Asset class
Currencies, Commodities, Equities
Rating
15

Comments

  • MM

    Michael M.

    7 4 2017 22:12

    0       0

    May I ask why a 21 period MA? Surely currencies and futures trade 6 days a week so a 12, 18 or 24 SMA would be meaningful?
    Great videos, really learning a lot, thanks!

  • DC

    Dave C.

    12 2 2017 19:22

    1       0

    RobertA. Regarding New Gold - Industry analysts were waving red flags regarding the Rainy River project over the last 12 months. I attach a few links.

    https://tinyurl.com/hugy4vk

    https://tinyurl.com/zrprc64 - if you search this site using Oliphant you will see a whole raft of warnings over the last 2 years.

    I personally see lots of merit in technical analysis but believe fundamental analysis (especially for mining stocks) needs to be undertaken for any investment or trade.

  • DF

    Dave F.

    10 2 2017 00:43

    5       0

    Hi Don - thanks for the comment. I suspect there could be some 'spin-off' from this series down the road.

    The one thing I will be doing is putting on a Trading Round-table with some high profile friends/colleagues (as well as some of the RVTV crew) in May here in Bend OR.

    The goal is to illustrate how myself and the other presenters go through each day and synthesize data to come up with trades - often times in collaboration with one another. It will be very hands on for sure.

    Get on the list and we will email details when the event is finalized. Tentatively May 5th and 6th.

    http://www.aspentrading.com/events/

  • DF

    Dave F.

    10 2 2017 00:38

    2       0

    Ready to start filming TA #4 within the hour. Starting to pull the pieces from the early videos into an actionable plan on LIVE charts....video scheduled to go live on Monday

  • DM

    Daniel M.

    8 2 2017 14:20

    0       3

    Gents, if you guys are having a tough time selecting backgrounds, maybe consider Oliphant backdrops (http://oliphantstudio.com/). They are fucking expensive but they have a nice subtle modern look.

  • MA

    Meshari A.

    8 2 2017 09:24

    0       0

    very interesting video. DXY breaking 100 was a quite interesting move lately and i had wished dave made the video after that, though my opinion is that by year end I still think the USD will continue its bull run, but the current pull back doesn't seem over at all in the dxy. Are most people solo traders here or do people have trader chat rooms they discuss their core ideas?

  • DG

    Don G.

    8 2 2017 01:28

    13       0

    Dave,I love this series . Hope it goes on indefinitely.

  • RS

    Roger S.

    8 2 2017 00:47

    13       0

    Dave great videos. I have been a technical futures trader for 30+ years. I have studied it all and tried it all. I have found the most important tool is PRICE. Many people I have tried to help spend time arguing what length of moving average should I use to determine trend.? It is an unanswerable question. Or which indicators should I use. All indicators are lagging price. What I use is looking at price for either higher highs and higher lows or the opposite to determine trend direction. You can get faked by one out of sequence but normally it is usually telegraphing the trend direction. The second thing about price which you mentioned today is bar size. Very important. large or expanding bar size coupled with increasing volume clearly indicates momentum is increasing in the direction that price is moving. This information is pretty much all I use to trade both stock index and precious metal futures.

  • DF

    Dave F.

    7 2 2017 16:47

    5       0

    Thanks for all the comments. I realize the publishing schedule for this series has been out of sync....my apologies.

    There have been some issues on my end that have caused delays and filming cancellations. I am hopeful that going forward I will be back on schedule.

  • RM

    Richard M.

    7 2 2017 16:30

    3       0

    Really appreciate your taking the time to make these video's Dave. I have followed TA for many, many years and have come to realize only a few indicators are really useful (the more esoteric, the more useless!). I have found that some TA actually ties in nicely with psychological interpretations of price action (Head & Shoulders among others). Looking forward to the rest of your series!

  • SR

    Sean R.

    7 2 2017 08:41

    3       0

    Thanks Dave! You're very helpful and easy to follow.

  • SS

    Steven S.

    7 2 2017 00:14

    1       1

    A book: The Quarters Theory by Illian Yotov helped me the most when I first started. He was doing a daily forex broadcast on fxstreet.com & then started teaching on allthingsforex.com a few years back. But if it wasn't for mauldineconomics.com (especially love their free newsletters) I would be totally lost on the macro economics. Thanks Dave cause I did attempt to day trade the S&P 500 Futures just after learning some technical from Online Trading Academy & DTI Trading.com with Tom Buzby.

  • RA

    Robert A.

    6 2 2017 23:48

    14       0

    Excellent Video David and thanks again. You have been very loyal to RV and, although I'm not a trader, I have watched all of yours and always take something away that I find useful. I got stung pretty good by NGD management's surprise loss of credibility either through lack of being forth right or being too glib and manipulative. I imagine you were blindsided also as the price action and perceived fundamentals sure seemed to allign for a high % trade or investment. You don't need to weigh in on this, but I do have a couple of questions; 1) WAS there any precursor you could see that would have allowed you to lighten up or even halve our positions and 2) although I imagine that you would agree that the chart is "broken", do any trading strategies indicate whether best to sit, average down, or drastically cut the position. Don't mean to put you in a tough spot David, but just wondering if there is some lesson here other than the importance of "right sizing" the trades.

  • MS

    Matt S.

    6 2 2017 23:42

    3       0

    Suggestive was the correct word ;)

  • GA

    Giedrius A.

    6 2 2017 22:53

    2       0

    Really appreciate the input of this video. Very useful and straight forward content. Using both fundamental and technical s helps to improve your results dramatically. Thank you D. Floyd and RV.

  • SS

    Steven S.

    6 2 2017 22:52

    2       0

    not related to this but RV's Grant Williams did an interview recently just posted to youtube - you can access it here ;) https://www.youtube.com/watch?v=BbJVqbW_UjY

  • T~

    Tshort63 ~.

    6 2 2017 21:12

    1       0

    Really enjoyed this overview. Watching the process unfold in theoretical terms is really helping me to understand the connection between Macro and Micro and how they compliment each other. Loved the story too!

  • SC

    Sajad C.

    6 2 2017 20:31

    2       0

    Another great video. Look forward to the next one.

  • RM

    Raghav M.

    6 2 2017 19:36

    0       0

    Hey David, thanks for this. Can you indicate any way and/or resources to read up on Elliott waves?