Hello. today I took sell trade there. Reasons it was weakening at that SR flip level. But It went wrong. So, can anyone please tell me what was my mistake to enter trade ?
Thanks.
Thanks.
-milkeyway
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DislikedHello. today I took sell trade there. Reasons it was weakening at that SR flip level. But It went wrong. So, can anyone please tell me what was my mistake to enter trade ? Thanks. {image}Ignored
DislikedHi, K, i cannot edit pictures in office, so please try to understand my texts 1st. this is NOT 'first time back' FTB, the level you entered, has been tested visited once. your entry is 2nd time the level is visited. therefore, the supply there are very likely consumed up when you enter. 2nd. the level, when it is initiated (left to the FTB), didn't demonstrate a strong move (with a big candle, or fast bearish move), therefore, your 'SR flip' is not a significant one. in other words, there might not be much more sell orders than buy orders. 3rd....Ignored
DislikedHi If, i was looking where you enter on kiwi, and it sims that you entered on tuch of history supply and not FL.Ignored
Disliked{quote} Hi Ifmyante Not all flag limit are able to do that king of price reversal, many do a decent rejection and some do a little 5-10 or less pip rejection (consumption) before get blown up even at first visit. Seems that 0.9130 did have some history in the past as a minor level, but didn't get respected many times recently. I wanted to ask you what did you see in the overall picture that gave you the confidence of trading that particular choppy flag limit at that particular price level. It should be some more reasons for that trade i guess, not...Ignored
DislikedHi If, i was looking where you enter on kiwi, and it sims that you entered on tuch of history supply and not FL.Ignored
DislikedAnother observation that I can couple with my previous trading knowledge. Most of you should have noticed by now whom have played in the S/D world is the stair stepping behavior of price. That is to say, those constant higher lows that present themselves. All the price consolidation and fake outs to finally get back to the bottom for a retest. It looks like flag limits are a nice way to see the start of the stair stepping effect and where price finds its initial base or the first 'step'. {image}Ignored
DislikedHi, IF, Would you please explain a little further about "Supply and Demand are far too unreliable like fibs..."? I am actively reading/searching your posts/threads both here FF and RTM. I have seen that since the end of last year, you've mentioned a couple of times that S/D is not reliable. This seems a little against your earlier insights (1~2 years ago). The reason I got confused is that I do feel: 1. S/D is not as reliable as many example charts/trades show, since I manually simulate in forextester hundreds of hours...... 2. but S/D seems still...Ignored