Wait for the system to show you the trade!
C-12's Supply, Demand and PA thread
- #6,982
- Jan 19, 2019 3:15pm Jan 19, 2019 3:15pm
{quote} A bit of learning I took from last week was that 3 day sideways choppy movement. Notice the the setup that was building with a little swing high (red X) causing breakout traders to buy straight into supply. Love setups like this but don't always catch them! Anyone see the same setup on USDCAD? {image}
C
What keeps you from taking the engulfing candles where I put the yellow arrows? Technically, the first two worked out quickly as they touched into the next demand level on the 1hr chart. The place where your arrow is marked was obviously the best move though. I guess the stops would all be the same though, it would just be a longer wait if you had taken any of the trades where I marked with the arrows...
Thats one of the things that will still trip me up a little, when zones are sloppy and stacked right on another with lots of candles/wicks. Do you wait for those to be taken out, since they're not fresh, or do you jump in? Or maybe you wait even longer, and look for that above supply zone (which wasn't hit) to be triggered. But then you miss the down move.
** After looking at those charts again, it would only matter if you were trading the 1 hour supply zones. The 4hr was only touched once, and that was when you noted the prior high/wick being taken out to bait people in. I know you trade lower timeframes sometimes though. So do you skip situations like I marked, or just have more trades and more volatility to manage?
- #6,983
- Jan 19, 2019 11:54pm Jan 19, 2019 11:54pm
- Joined Jun 2012 | Status: Signed In | 5,309 Posts
{quote}I know you trade lower timeframes sometimes though. So do you skip situations like I marked, or just have more trades and more volatility to manage? {image}
You never know if price wants to retest the zone and how many times it will tap it. Ideally it's better to stick the SL behind H4 zone. I was concerned we might go for the upper zone above and it would kill my RR.
I'm crap at sitting on the sidelines so my strategy to avoid getting dragged into a dogfight is having another pair to trade, which is where GU comes in handy.
- #6,984
- Jan 20, 2019 12:41am Jan 20, 2019 12:41am
Ha! Ok, that’s exactly how I would have played it and have played similar scenarios in the past. Including worrying a little about going for the upper zone and killing the r/r.
I do understand the setup you were showing though, and it’s a good one. Breakout traders get suckered into the long and end up running right into supply.
I do understand the setup you were showing though, and it’s a good one. Breakout traders get suckered into the long and end up running right into supply.
{quote} I was shorting around the candles you highlighted and took a few mini losses, scratched trades and BE's. You never know if price wants to retest the zone and how many times it will tap it. Ideally it's better to stick the SL behind H4 zone. I was concerned we might go for the upper zone above and it would kill my RR. I'm crap at sitting on the sidelines so my strategy to avoid getting dragged into a dogfight is having another pair to trade, which is where GU comes in handy.
- #6,986
- Jan 20, 2019 1:44am Jan 20, 2019 1:44am
- | Commercial User | Joined Sep 2018 | 1,427 Posts
{quote} Here's a handy little indicator I keep forgetting to put on the charts. Forget all the pivot junk, I just use it for the previous session high and low lines. {file} {file} {image}
- #6,991
- Edited 10:30am Jan 23, 2019 10:10am | Edited 10:30am
- Joined Jun 2012 | Status: Signed In | 5,309 Posts
- #6,992
- Edited 9:38am Jan 24, 2019 9:21am | Edited 9:38am
- Joined Jun 2012 | Status: Signed In | 5,309 Posts
Bloody hell, that was messy. 
- #6,993
- Jan 24, 2019 1:39pm Jan 24, 2019 1:39pm
- Joined Jun 2015 | Status: Trader | 1,340 Posts
Your trade order needs to be in the right place at the right time.
- #6,994
- Jan 24, 2019 1:50pm Jan 24, 2019 1:50pm
- Joined Jun 2012 | Status: Signed In | 5,309 Posts
Hi C-12, How many different time frames do you use to enter trades?
Upper Screen 1 (GU Daily / EU Daily)
Upper Screen 2 (USDX H4 + H1 + M15)
Lower Screen 3 (GU H4 + H1 + either M30/M15 or M5)
Lower Screen 4 (EU H4 + H1 + either M30/M15 or M5)
The only charts I'm cycling is the LTF (M30-M15-M5) just to catch some hidden zones or for smaller scalps.
My goal is to get in sync with the D1/H4 direction with LTF entries. I use every time-frame, very rarely M1.
- #6,995
- Jan 24, 2019 2:40pm Jan 24, 2019 2:40pm
- Joined Jun 2015 | Status: Trader | 1,340 Posts
Your trade order needs to be in the right place at the right time.
- #6,996
- Jan 25, 2019 4:53am Jan 25, 2019 4:53am
- Joined Jan 2016 | Status: Trader | 2,062 Posts
{quote} Here's my current chart stack on 4 monitors. Upper Screen 1 (GU Daily / EU Daily) Upper Screen 2 (USDX H4 + H1 + M15) Lower Screen 3 (GU H4 + H1 + either M30/M15 or M5) Lower Screen 4 (EU H4 + H1 + either M30/M15 or M5) The only charts I'm cycling is the LTF (M30-M15-M5) just to catch some hidden zones or for smaller scalps. My goal is to get in sync with the D1/H4 direction with LTF entries. I use every time-frame, very rarely M1.
How many setups on average per week?
What do you mean "sync with D/H4"?
Does it means both D/H4 must be trending in the same way for you to take the trade?
- #6,997
- Jan 25, 2019 11:03am Jan 25, 2019 11:03am
- Joined Jun 2012 | Status: Signed In | 5,309 Posts
{quote} So you trade only GU EU? How many setups on average per week? What do you mean "sync with D/H4"? Does it means both D/H4 must be trending in the same way for you to take the trade?
I guess you could call these trades 'scouts' as FTI would call them, but too many of them can give back a lot of profits from previous sessions.
If H4 is trending then it's a lot easier, GU was great all week.
- #6,999
- Jan 29, 2019 12:03pm Jan 29, 2019 12:03pm
- Joined Jun 2012 | Status: Signed In | 5,309 Posts
my short 3182 on GU daily / m30 / h4 supply zones together {image}
Managed to get back on side with the H4 PA.
Pre FOMC is always annoying for me.
- #7,000
- Jan 29, 2019 12:04pm Jan 29, 2019 12:04pm
- | Commercial User | Joined Sep 2018 | 1,427 Posts
C-12 whare are you.
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