Here's /6e. I like futures for volume greater than 1h. I've only marked the closer of the two major supply levels on the chart that we're approaching.
Supply and Demand zones NOT in retrospect 57 replies
Supply and Demand Zones 48 replies
Sam Seiden's Supply/Demand zones 105 replies
DislikedNoticed you are using the wicks for your levels in some cases. There isn't a rule set in concrete for applying these zones but I just wondered if you had a particular reason for using the wicks and not also the meat of the candle?Ignored
DislikedHi Porkpie,
Actually , I have never heard Sam talk about the wicks as Supply and Demand Level in his videos. I just saw he used the wicks a few times though. Are you referring to the tiny small body of the candles with long wicks?
To me, I just feel that the wicks which present the pivot highs or lows show the most imbalance of supply and demand because price gets there but is quickly rejected. That shows there are a lot of buyers and sells at that levels. Not all the wicks are good though. Only those wicks followed by the sharp decline and rally...Ignored
DislikedIn SS's "Live Trading and Analysis" video, about 10 or 12 minutes in, he briefly talks about drawing the lines around the zone. In the case of supply he used the candle bodies and the upper wicks--but not the lower wicks. In the case of demand, I'd assume that we'd use the candle bodies and bottom wicks. I think by not using the bodies, you might miss a lot of entries. Often, in Seiden's videos, price barely reaches the candle bodies then turns before going all the way through them. Bear in mind I'm new at this approach also.Ignored
DislikedIn SS's "Live Trading and Analysis" video, about 10 or 12 minutes in, he briefly talks about drawing the lines around the zone. In the case of supply he used the candle bodies and the upper wicks--but not the lower wicks. In the case of demand, I'd assume that we'd use the candle bodies and bottom wicks. I think by not using the bodies, you might miss a lot of entries. Often, in Seiden's videos, price barely reaches the candle bodies then turns without going all the way through them. Bear in mind I'm new at this approach also.Ignored
Dislikedyes, agree with this and I like the idea of splitting trade within the zone also as Seiden has mentioned.
Took short on USDCAD at 1.0060 earlier. Currently within 1 hour demand watching for further momentum downwards stop at 26.Ignored
DislikedHere are two trades I took this week which were both set and forget orders. I work of the day charts for my higher timeframe swing trading. I reached target 1 on both pairs so they are now free trades and bagged a small profit. It is all about planning your trades! I like working of the daily! Let's see what happens
GBPCHF:
I set this as a set and forget after it pulled back from the explosive entry into the supply zone. Took some heat and had 9 hours of basing to choose a better entry! Patience is key at these higher timeframes!
Attachment ...Ignored
DislikedHere are two trades I took this week which were both set and forget orders. I work of the day charts for my higher timeframe swing trading. I reached target 1 on both pairs so they are now free trades and bagged a small profit. It is all about planning your trades! I like working of the daily! Let's see what happens
GBPCHF:
I set this as a set and forget after it pulled back from the explosive entry into the supply zone. Took some heat and had 9 hours of basing to choose a better entry! Patience is key at these higher timeframes!
Attachment ...Ignored