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Attachments: C-12's Supply, Demand and PA thread
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C-12's Supply, Demand and PA thread

  • #5,521
  • Oct 23, 2017 2:07pm Oct 23, 2017 2:07pm
Quoting Mallow
Hi, C12 and all Am I missing something? I saw price making an EG bar at H4 Supply. Then move to lower TF(M30) and sold on PA ( Engulf) with SL above the bar. Got stopped out. {image}
Yep, you were selling on the M30 as H4 had just engulfed north. this is a tricky one but will try and explain

Firstly daily chart, just bounced off D1 demand.
Attached Image (click to enlarge)
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  • #5,522
  • Oct 23, 2017 2:08pm Oct 23, 2017 2:08pm
H4. We got the initial bear bar off a week looking supply level but then notice what H4 did. the bearish engulf then went the other way.

You then sold into this move.
Attached Image (click to enlarge)
Click to Enlarge Name: GUH4.PNG Size: 38 KB
  • #5,523
  • Oct 23, 2017 2:09pm Oct 23, 2017 2:09pm
Quoting C-12
{quote} Good entries, all with trend and PA in the direction. The GU buy was v nice when that fresh H1 demand formed and retested. Not many S&D traders would have even seen that one.
I was aware of that situation but the problem was:

daily: PA out of demand

4Hr: PA out of supply

edit: you were faster
  • #5,524
  • Oct 23, 2017 2:11pm Oct 23, 2017 2:11pm
H1 demand established to show the initial sign of a move back up.

I liked Asim's entry, as you don't want to keep buying it too high up either as it goes back to H4 supply.
Attached Image (click to enlarge)
Click to Enlarge Name: GUH1.PNG Size: 35 KB
  • #5,525
  • Oct 23, 2017 2:15pm Oct 23, 2017 2:15pm
btw your 4hr chart is from which broker?
  • #5,526
  • Oct 23, 2017 2:15pm Oct 23, 2017 2:15pm
GUM30

New demands were being created on pullbacks.
Attached Image (click to enlarge)
Click to Enlarge Name: GUM30.PNG Size: 54 KB
  • #5,527
  • Oct 23, 2017 2:16pm Oct 23, 2017 2:16pm
Quoting MCFly
btw your 4hr chart is from which broker?
This a spreadbet UK broker using GMT+1 candles but Mallow's chart was clearer as the turn up showing up on H4 was even earlier.
  • #5,528
  • Oct 23, 2017 2:17pm Oct 23, 2017 2:17pm
Quoting Mallow
Hi, C12 and all Am I missing something? I saw price making an EG bar at H4 Supply. Then move to lower TF(M30) and sold on PA ( Engulf) with SL above the bar. Got stopped out. {image}
According to my Analysis your trade was late enough. But the market did not continue its direction in that way.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-m-h4-fxpro-financial-services.jpg Size: 169 KB
Price Is The Best Indicator Itself.
  • #5,529
  • Oct 23, 2017 2:18pm Oct 23, 2017 2:18pm
Quoting MCFly
{quote} I was aware of that situation but the problem was: daily: PA out of demand 4Hr: PA out of supply edit: you were faster
In my opinion, since daily had recently left demand and we were heading up towards daily supply, that short would have been okay for a scalp on a 15 or 5 min timeframe.
  • #5,530
  • Oct 23, 2017 2:22pm Oct 23, 2017 2:22pm
Quoting jack411
{quote} In my opinion, since daily had recently left demand and we were heading up towards daily supply, that short would have been okay for a scalp on a 15 or 5 min timeframe.
Yeah it was a tricky one. I means it's a news-less Monday so expectations of a decent move are pretty low.

I would have liked the buy at the initial H1 bull turn but then either took it out or just ride it out at BE and see what happens.
  • #5,531
  • Oct 23, 2017 2:24pm Oct 23, 2017 2:24pm
Quoting C-12
{quote} This a spreadbet UK broker using GMT+1 candles but Mallow's chart was clearer as the turn up showing up on H4 was even earlier.
how many different 4hr charts do you use?
  • #5,532
  • Oct 23, 2017 2:37pm Oct 23, 2017 2:37pm
Quoting MCFly
{quote} how many different 4hr charts do you use?
I usually have a flick through and check the NY bars and zones on EU. It doesn't make a huge difference but the NY bar was better on GU today. The candle opening time can sometimes make a slight difference to PA timing and zone structure.

Overall I think I prefer GMT charts for GU and EU
Attached Image (click to enlarge)
Click to Enlarge Name: GUH4.PNG Size: 40 KB
  • #5,533
  • Oct 23, 2017 2:59pm Oct 23, 2017 2:59pm
Quoting C-12
{quote} Yep, you were selling on the M30 as H4 had just engulfed north. this is a tricky one but will try and explain Firstly daily chart, just bounced off D1 demand. {image}
Thank you C12 and asim for your comments. that's my understanding.

1．Look Daily and other TF too

2．Check HTF zone is strong or weak

3. If you see an opposite engulf on the same/higher TF, negate the trade
  • #5,534
  • Oct 23, 2017 3:04pm Oct 23, 2017 3:04pm
Quoting C-12
{quote} I usually have a flick through and check the NY bars and zones on EU. It doesn't make a huge difference but the NY bar was better on GU today. The candle opening time can sometimes make a slight difference to PA timing and zone structure. Overall I think I prefer GMT charts for GU and EU {image}
My 4hr chart looks the same that means I have to look for a NY bar demo feed for complement. Any suggestion?
  • #5,535
  • Oct 23, 2017 3:06pm Oct 23, 2017 3:06pm
Quoting Mallow
{quote} Thank you C12 and asim for your comments. that's my understanding. 1．Look Daily and other TF too 2．Check HTF zone is strong or weak 3. If you see an opposite engulf on the same/higher TF, negate the trade
Yes, basically. You want flow with the H4 PA as it develops. Your M30 sell entry was in direct opposition to the unfolding northwards H4 bar.

Anyway. I wouldn't feel too down about this trade. I don't think there was much to do on GU today.

If I ever see a Monday with zero news on the calendar, then it's usually a day to do nothing or heavy micro scalping..
  • #5,536
  • Oct 23, 2017 3:07pm Oct 23, 2017 3:07pm
Quoting MCFly
{quote} My 4hr chart looks the same that means I have to look for a NY bar demo feed for complement. Any suggestion?
I use FxPro for DX and NY bars. The DX charts are excellent but it's a CFD and needs changing every so often.
  • #5,537
  • Oct 23, 2017 3:59pm Oct 23, 2017 3:59pm
Quoting C-12
Got another couple of add ons on the pullback. {image}
Took another old post C, hope you don't mind.

Retest in M30. Switch to M5 where..... I don't see any engulfing north, just a rejection bull with a nice wick on top atm you bought.

I read many times you validate the zone or a retouch through LTF with engulfing PA. Here there no engulfing by my side, no?
  • #5,538
  • Oct 23, 2017 4:32pm Oct 23, 2017 4:32pm
Quoting sanmiguell
{quote} Took another old post C, hope you don't mind. Retest in M30. Switch to M5 where..... I don't see any engulfing north, just a rejection bull with a nice wick on top atm you bought. I read many times you validate the zone or a retouch through LTF with engulfing PA. Here there no engulfing by my side, no?
I think these are the charts you mean?

The upper last buy was based on a pullback into M30 demand, there was also a M5 zone and even M1 in an aggressive up-move.

Mostly engulfing PA is safer but I'd banked loads that day and quite happy to buy on any pullback. That was a very good session if I remember.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EU M30.PNG Size: 80 KB
Click to Enlarge Name: M5.PNG Size: 36 KB
  • #5,539
  • Oct 23, 2017 4:43pm Oct 23, 2017 4:43pm
In fact, I'd highly recommend firing up the news calendar and getting a feel for when liquidity is likely to hit the market.

You can hit a week's worth of gains in a single solid session, rather than sitting there trying to grind out pips on a crappy Monday session. I've been guilty of this...

All the good setups form in the build up to news output. That doesn't mean you have sit there clicking buttons right on the releases but it's much more productive (and easier to read) when there's decent movement.
  • #5,540
  • Oct 23, 2017 5:55pm Oct 23, 2017 5:55pm
Quoting C-12
In fact, I'd highly recommend firing up the news calendar and getting a feel for when liquidity is likely to hit the market. You can hit a week's worth of gains in a single solid session, rather than sitting there trying to grind out pips on a crappy Monday session. I've been guilty of this... All the good setups form in the build up to news output. That doesn't mean you have sit there clicking buttons right on the releases but it's much more productive (and easier to read) when there's decent movement.
any particular news events you look for? Any you avoid?
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