DislikedI got filled on a buy limit today. Had to do other things though so I put on a 5 pip trailing sl. I think I'm getting close to the point where I start trading for income and it's making me kinda nervous. Not that I currently need the income from it or doubt myself, but theres still that "what if I fail - again" question {image}Ignored
Price Will Tell - Supply/Demand Price Action Trading
- #1,643
- Aug 3, 2017 4:35am Aug 3, 2017 4:35am
- Joined May 2012 | Status: ... | 1,925 Posts
{quote} Nice one - I missed the early Asian retest opportunity...
- #1,645
- Edited 10:23am Aug 3, 2017 7:41am | Edited 10:23am
This was just based off location and the fact AU looked like it had been ranging. So I figured it would be a moderately safe entry back up into the chop. I'd had my eye on the level for a few days.
- #1,648
- Aug 6, 2017 4:06am Aug 6, 2017 4:06am
- Joined May 2012 | Status: ... | 1,925 Posts
USDCHF Buying The background of USDCHF demonstrated a willingness to buy on the back of a bullish engulfing Weekly candle. Marking up what is only obvious in hindsight. H1 {image}
Daily looks quite interesting too.
- #1,649
- Aug 6, 2017 11:02am Aug 6, 2017 11:02am
- Joined May 2012 | Status: ... | 1,925 Posts
Nice reaction on GBPUSD! Will definitely be watching for a retest up there {image}
Until that W1 is breached, this pair is down for me on W1 but I think we have to consider this S/R. Price has accumulated there and left a demand zone:
Switching to Daily I see this scenario. As long as the market doesn't gap above 1.3268'ish on tonight's open we'll have fresh Daily supply. It all now really depends on how price reacts at these various zones.
It's in a bit of no-man's land on Daily, but for me, technically D1 direction is Up. That doesn't mean to say I wouldn't sell it though. A retest of that supply (if it prints on the open) may give a nice double-top type entry for shorts. Price may not, however, test supply at all and instead meander down to test these demands. At that point, depending on how it reacts, I would consider buying.
- #1,651
- Aug 6, 2017 1:24pm Aug 6, 2017 1:24pm
- Joined May 2012 | Status: ... | 1,925 Posts
{image}
The only observation I have re Oz (I do trade this pair, mainly on M15) is the following:
W1
This is the third week it's been at historic supply and although we do have a bearish candle, this by itself isn't a signal to short my side.
In these situations we do sometimes see clues in lower TFs. When trying to analyse W1, D1 would be the lowest I'd go:
D1
There's nothing in this PA that compels me to sell. It could easily rally from here.
I'll just keep trading it on M15 for now. Let's see how Daily plays out this coming week.
- #1,654
- Aug 9, 2017 2:10am Aug 9, 2017 2:10am
- Joined May 2012 | Status: ... | 1,925 Posts
I'm curious, is the H4 trend up or down?
- #1,656
- Aug 9, 2017 2:30am Aug 9, 2017 2:30am
- Joined May 2012 | Status: ... | 1,925 Posts
Made this post regarding Gold yesterday on the VSA thread. Don't want to pollute malcom's work so will tie the post in with my own comments here.
VSA I think is quite interesting - especially in slow markets when the mind can wander. I like the way it's being put to use and it does clearly offer trading signals. Yesterday, however, the thing I learned watching Gold (a pair I don't trade) is that patience and SR/SD is still quite enough to draw ample data out of the market to generate a signal.
At the time of the above post my stated view on Gold was that it was long and in fact a short would be contra that direction. Having said that, a signal is a signal, even when it trumps directional view because at some point, markets always turn. malcolm's signal combined with some basic SR/SD gave a huge trade, although I have to say, for me, the signal was still based solely on SR/SD. After Gold dumped it put in a typical market behaviour with re-accumulation creating demand and a retest for continued a move back up.
The moral of the story? As much as VSA presents an interesting viewpoint on the market, for me, the goal is still achieved using basic SR/SD principles and patience.
M15 chart for reference:
VSA I think is quite interesting - especially in slow markets when the mind can wander. I like the way it's being put to use and it does clearly offer trading signals. Yesterday, however, the thing I learned watching Gold (a pair I don't trade) is that patience and SR/SD is still quite enough to draw ample data out of the market to generate a signal.
At the time of the above post my stated view on Gold was that it was long and in fact a short would be contra that direction. Having said that, a signal is a signal, even when it trumps directional view because at some point, markets always turn. malcolm's signal combined with some basic SR/SD gave a huge trade, although I have to say, for me, the signal was still based solely on SR/SD. After Gold dumped it put in a typical market behaviour with re-accumulation creating demand and a retest for continued a move back up.
The moral of the story? As much as VSA presents an interesting viewpoint on the market, for me, the goal is still achieved using basic SR/SD principles and patience.
M15 chart for reference:
- #1,657
- Aug 9, 2017 2:49am Aug 9, 2017 2:49am
- Joined Sep 2012 | Status: Trader | 1,056 Posts
Good morning traders.
I've been doing this on 1h htf because I was busy.
Just exited UJ short ride,over 1300 euros profit live trading.
My combination was very simple:
Daily timeframe with 1h timeframe.
Always using Daily S/D as direction and 1h to enter on low risk entries with P.O
I open my charts 40min daily before the beginning of the new daily candle,set p.o on s/d level and close the chart till the next day is over.
The results were amazing.
I've been doing this on 1h htf because I was busy.
Just exited UJ short ride,over 1300 euros profit live trading.
My combination was very simple:
Daily timeframe with 1h timeframe.
Always using Daily S/D as direction and 1h to enter on low risk entries with P.O
I open my charts 40min daily before the beginning of the new daily candle,set p.o on s/d level and close the chart till the next day is over.
The results were amazing.
- #1,658
- Aug 9, 2017 3:00am Aug 9, 2017 3:00am
- Joined May 2012 | Status: ... | 1,925 Posts
Good morning traders. I've been doing this on 1h htf because I was busy. Just exited UJ short ride,over 1300 euros profit live trading. My combination was very simple: Daily timeframe with 1h timeframe. Always using Daily S/D as direction and 1h to enter on low risk entries with P.O I open my charts 40min daily before the beginning of the new daily candle,set p.o on s/d level and close the chart till the next day is over. The results were amazing. {image} {image}
- #1,659
- Aug 9, 2017 3:08am Aug 9, 2017 3:08am
- Joined May 2012 | Status: ... | 1,925 Posts
{quote} I'd say down since the break of this level... {image}
Until those two lower demands have been taken out, however, overall H4 "trend", for me is still up. If I was shorting LTFs those demands are targets.
