DislikedI’m a late come, hopefully not too late, as the thread started less than 3 months ago.
I’ve gone thru the posts in the thread.
I cld understand the concept & principles of Seiden’s method. What I need do is practice. For starters, I think I wld go for higher timeframes, where there is less noise.
Thinking thru, I have 2 difficulties to get over with.
1....Ignored
In response to:
QuoteDisliked[IMG]file:///C:/Users/Winston/AppData/Local/Temp/moz-screenshot-7.png[/IMG][IMG]file:///C:/Users/Winston/AppData/Local/Temp/moz-screenshot-8.png[/IMG][IMG]file:///C:/Users/Winston/AppData/Local/Temp/moz-screenshot-9.png[/IMG]1. I hv no problem with one of the 2 lines that define the s/d zone. This is the one at the swing high or low point. But I am not too sure where to put the 2nd line. Pl see attached screenshots for details. Seiden did not show details in his videos & articles.
I would add in the other supply zones, as price may turn there before it gets to the more extreme zones that you've highlighted.
I like to focus on weekly SD levels. After we turn at a demand zone, start looking for fresh demand levels and trade towards the next weekly supply zone, see attachment.
For the fresh zones, I look at a variety of time frames, mainly 30m, 1h, 3h, 4h. It varies.
QuoteDisliked2. when price gets near the s/d zone, unless the probability enhancer score is 9 or 10, we cannot be sure if it is to reverse and if so, when & where. As Porkpie said, price can still go anywhere. The best is to observe price action, which I think we wld do at a lower time frame.
Sam (in his free vids) advocates the use of bollinger bands. He doesn't wait for candlestick patterns, but waits for price to pierce the bands into the SD zone for entry.
When I'm around when price enters the SD zone, I really like to use VSA entries (no demand or up thrust following buying climax in a short scenario)
I would guess that on a smaller time frame (say 15m PA looking at a 4h supply level) pretty much any short signal that can be spat at you could reasonably work. The important thing when you desire a "signal" to be spat at you is the r:r. It's a trade off because when you wait for confirmation you are going to have a way larger stop, and therefore a worse r:r.
I'm attaching a weekly dollar chart.