C-12's Supply, Demand and PA thread

Quoting C-12

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{quote} It's S&D but using PA as method of entry with trend rather than the Sam Seiden style zone reversal play. I got some of GU a bit later in the move but when I could define the risk a bit more with the engulfing PA. Not textbook PA but was good enough considering H4 + DX. This PA then turns into a supply zone you can hide a stop behind. take some off a 2:1 and leave some to run if there's room. {image}

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Quoting Irad

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{quote} so you sold there and price was just at demand lvl and it was still forming a supply lvl I wonder why did you ignored that zone and assumed it'll break and what it make you quit the trade? engulfing pattern to north in the 15m chart or engulf pattern in the 240m chart? attached scrsht of the demand {image}

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Quoting Irad

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thank you, it actually make sense and you can actually get the feeling that level isn't going to hold with that logic I look at GJ for the same thing now 4H show lower lows and lower highs, while also created recent supply level on the 4H chart price currently at 4H demand but it created 15M supply level so I we can actually try and take that risk for the down side {image} {image}

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Quoting C-12

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{quote} Ideally we would get a bit of a bounce and then momentum to the downside with a solid engulf for entry. I would need something to define my risk with some PA to hide my stop behind. Now it could just drift south overnight, but at this point the SL would need to be right above that recent H4 bear candle. A bit too much to make it attractive.

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Quoting Irad

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thank you, it actually make sense and you can actually get the feeling that level isn't going to hold with that logic I look at GJ for the same thing now 4H show lower lows and lower highs, while also created recent supply level on the 4H chart price currently at 4H demand but it created 15M supply level so I we can actually try and take that risk for the down side {image} {image}

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Quoting C-12

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You've also got 2 x opposing forces - USDJPY going up and GBPUSD going down which is causing GBPJPY to trade in a tight range. Right now I think I would prefer to trade the major crosses separately. Also as Merka says, it's technically a H4 demand level which hasn't yet been taken out with PA. It's a straight pass from me. As the week unfolds there will be plenty of good clean opportunities on offer.

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Quoting Irad

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{quote} so basically if you have to major that agrees on the direction of the cross pair, you'll prefer to trade that cross instead of the 2 majors? i.e: AUD/USD long, GBP/USD short - you'll will prefer only trade GBP/AUD short or you'll keep AU and GU in your basket? i guess that's like 3 times commission to the broker

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Quoting C-12

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{quote} I'm more into the majors although everything is against the USD. They seem to trade more smoothly and you can focus on the single pair with DX as reference. I always lose track of things if I trade more than 5 or 6 at a time. I think if trading W1 HTF with D1/H4 as entry you can add more crosses in, maybe 12 or 16. Here's an AU short from yesterday. It looks like I was trading into M15 demand... But then look at H4. {image}

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Quoting blackforex1

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is this good for buy ? 3rd time retouch at demand with bullish engulf ?good to buy ? {image}

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Quoting C-12

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Anyone else got a slice of this? {image}

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Quoting classix

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{quote} Would you please share your last entry and its sl trick or reason on this chart ? Using singl tf or on lower tf combo thanks

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