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C-12's Supply, Demand and PA thread

  • #101
  • Oct 24, 2012 11:46am Oct 24, 2012 11:46am
Quoting antaly
Hi C-12, may I know which supply are you trading at this position you currently holding? Or are you trading breakout for this?
Reason for entry was this M30 level earlier and reaction on the lower timeframe.

I've already banked profits on most of this trade with my last position as a possible runner (or BE stopout).

Price was also well over it's ATR, meaning the law of averages also supported this trade.
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  • #102
  • Oct 24, 2012 12:03pm Oct 24, 2012 12:03pm
Quoting C-12
Reason for entry was this M30 level earlier and reaction on the lower timeframe.

I've already banked profits on most of this trade with my last position as a possible runner (or BE stopout).

Price was also well over it's ATR, meaning the law of averages also supported this trade.
What to do with ATR?
  • #103
  • Oct 24, 2012 12:09pm Oct 24, 2012 12:09pm
Quoting antaly
What to do with ATR?
The average days trading range for GBPUSD was 89 pips over the last 20 days.

Price had already moved 112 pips today. Quite a large move on average.

I don't use this on it's own but it's a good indicator that we can prepare for a potential reversal.
  • #104
  • Oct 24, 2012 12:15pm Oct 24, 2012 12:15pm
Quoting C-12
The average days trading range for GBPUSD was 89 pips over the last 20 days.

Price had already moved 112 pips today. Quite a large move on average.

I don't use this on it's own but it's a good indicator that we can prepare for a potential reversal.
Oh, alright. So you doesn't trade USD/JPY and those have low daily range?

Besides, I'm very confuse with multiple TF analysis. If we treat price as a magnet, then when the price reach a higher TF level. Should we just go long if the higher TF is a demand level? But we don't know whether the higher TF level will work out. What should we do? Follow the Higher TF trend of level?
  • #105
  • Oct 24, 2012 1:20pm Oct 24, 2012 1:20pm
Quoting antaly
Oh, alright. So you doesn't trade USD/JPY and those have low daily range?

Besides, I'm very confuse with multiple TF analysis. If we treat price as a magnet, then when the price reach a higher TF level. Should we just go long if the higher TF is a demand level? But we don't know whether the higher TF level will work out. What should we do? Follow the Higher TF trend of level?
I've tried trading the USDJPY before and haven't got along with it, even though it has a very low spread.

As for the question about the multiple analysis, the higher TF level always wins. I would never try and trade against it.
  • #106
  • Oct 24, 2012 1:36pm Oct 24, 2012 1:36pm
Quoting C-12
I've tried trading the USDJPY before and haven't got along with it, even though it has a very low spread.

As for the question about the multiple analysis, the higher TF level always wins. I would never try and trade against it.
Thanks for the reply, C-12
  • #107
  • Oct 24, 2012 2:01pm Oct 24, 2012 2:01pm
Quoting C-12
I've got an indicator that puts the daily trading range projections on the chart. Will dig it out and add it to the first post later.

Just a quick update on the GBP trade, locked in profits on 2 positions and going to see how far I can run this last one.
Ok, thanks for the updated first page
  • #108
  • Oct 24, 2012 2:08pm Oct 24, 2012 2:08pm
No probs.

Got knocked out of my GBPUSD position so got back in again. Took 6 and now BE.
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  • #109
  • Edited 5:37pm Oct 24, 2012 5:24pm | Edited 5:37pm
Right, just a quick one before I call it a night.

Today has been very frustrating day trying to run trades. I've failed to bag some seriously nice profits that were there for the taking. I think I gave back nearly 40 pips on one trade earlier!! There are no excuses for this.

Tomorrow I'm going back to what I do best and just smash and grab what I can when I can. I'll happily take my full 6, 8 or 12 pips since I only need 20 a day and the trades come around often.

I'm not sitting around again waiting and praying for a trade to run only to be stopped out over and over for break even.

Rant over.
  • #110
  • Oct 24, 2012 5:52pm Oct 24, 2012 5:52pm
Smart decision. Whatever was working for you before, go back to that.

I'm not trying to question your previous trades but I never understood why trades take partial profits. My view is you can't take partial losses, so why take partial profits.

We have no clue what the market is going to do so take your full 6 pips or whatever it is and wait for the next opportunity to come along.

That's just my opinion though but I do think you going back to taking full trades off the table and just waiting for the next one will be a better way to beat the market.

Quoting C-12
Right, just a quick one before I call it a night.

Today has been very frustrating day trying to run trades. I've failed to bag some seriously nice profits that were there for the taking. I think I gave back nearly 40 pips on one trade earlier!! There are no excuses for this.

Tomorrow I'm going back to what I do best and just smash and grab what I can when I can. I'll happily take my full 6, 8 or 12 pips since I only need 20 a day and the trades come around often.

I'm not sitting around again waiting and praying for a trade to run only to...
  • #111
  • Oct 24, 2012 6:04pm Oct 24, 2012 6:04pm
As a hit it and quit it guy ( same as your smash and grab ), I can safely say don't try to predict the future, get in get out first stall and repeat, anything else ends up being, hey it might be trending, back to SL


Very few M1 traders around these parts, good to see another 1.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #112
  • Oct 25, 2012 1:03am Oct 25, 2012 1:03am
C-12, first of all i just want to say thanks for sharing with us. I'm still learning the S&D concept myself. wanna to ask you about what you said "a clear rejection from the S&D zone" is this some kind of an art,or maybe you have some specific rules on that, say "if the price moves 50 pips from the zone" or some thing like that, or maybe you just look for the long candles?if so, how do you determine "long candles" thanks so much, keep sharing with us newbies
  • #113
  • Oct 25, 2012 1:16am Oct 25, 2012 1:16am
Quoting scooterboy
C-12, first of all i just want to say thanks for sharing with us. I'm still learning the S&D concept myself. wanna to ask you about what you said "a clear rejection from the S&D zone" is this some kind of an art,or maybe you have some specific rules on that, say "if the price moves 50 pips from the zone" or some thing like that, or maybe you just look for the long candles?if so, how do you determine "long candles" thanks so much, keep sharing with us newbies
Here's a quick live example. Price shoots up into a supply level. I flick to my M1 screen and watch for a rejection. Price bounced off that level sharply and that's my entry.

I'm now awaiting a safe opportunity to get to break even.
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  • #114
  • Oct 25, 2012 1:20am Oct 25, 2012 1:20am
Price dropped below red arrow (my cue to get my stop losses closer to or at break even).

If I like the level I'll give it a little more breathing space but keep my stops tight.
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  • #115
  • Oct 25, 2012 1:21am Oct 25, 2012 1:21am
Keep it up my friend. I'm in the process of learning how to locate the S&D zones myself right now.

Nice to see you sharing your trades with us.

Quoting C-12
Here's a quick live example. Price shoots up into a supply level. I flick to my M1 screen and watch for a rejection. Price bounced off that level sharply and that's my entry.

I'm now awaiting a safe opportunity to get to break even.
  • #116
  • Oct 25, 2012 1:32am Oct 25, 2012 1:32am
This part can be quite discretionary. I don't want to take a full 6 pip x 2 position loss but I don't want to kill a valid trade by getting a BE stop out.

Price often stalls and chops around at S&D levels for a bit.

It's about finding that balance of getting safe but just giving the trade enough room to do it's thing.
  • #117
  • Oct 25, 2012 1:49am Oct 25, 2012 1:49am
Thx 4 the reply C-12, i hope i can contribute to the thread soon enough
  • #118
  • Oct 25, 2012 1:50am Oct 25, 2012 1:50am
*update*

I've taken my 2 x 6 and also another off at 10 pips.

So now i've got one more 0.50 lot position at BE so I'm switching to a M15 chart to see where this can potentially go.
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  • #119
  • Oct 25, 2012 2:12am Oct 25, 2012 2:12am
Good morning,

Is anyone eyeing this daily level on USDJPY?

Short @ 80.34, stop at 80.64

Comments welcome!

Cheers.
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  • #120
  • Oct 25, 2012 2:20am Oct 25, 2012 2:20am
Quoting EuroPipper
Good morning,

Is anyone eyeing this daily level on USDJPY?

Short @ 80.34, stop at 80.64

Comments welcome!

Cheers.
Could be a good one. Worth setting an alert for and see if we get a nice M5/M15 rejection bar. Limit orders make me nervous.
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