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ReadtheMarket - Supply and Demand with Price Action

  • #4,621
  • Feb 23, 2019 4:26am Feb 23, 2019 4:26am
Quoting Fxyogi
There is accurate way of reading the price. But to trade successfully we no need to know all with except proper trading Psychology. There is a great danger coming when we boost up our ego with accurate price reading . Because over confident blows the account. Comparing to this ,those who with great trading career has less accuracy of price reading . This is the funny contrast. In my opinion price reading is easier , emotional control is the difficult task. "MIND IS THE MOST SIGNIFICANT AND FUNDAMENTAL TOOL FOR SUCCESS "
It is like we have to learn chemical and biology to sell lemon juice.
RIP RTM
  • #4,622
  • Feb 23, 2019 4:28am Feb 23, 2019 4:28am
LoL
We quote same post
RIP RTM
  • #4,623
  • Feb 23, 2019 4:33am Feb 23, 2019 4:33am
Quoting hendzwoter
{quote} It is like we have to learn chemical and biology to sell lemon juice.
lol i think its more like you have to be a great salesman to sell lemon juice. Having delicious lemon juice will help, but not necessary.
RIP RTM - long live Nonsense Trading
  • #4,624
  • Feb 23, 2019 5:15am Feb 23, 2019 5:15am
Quoting mica
Further to the above conversations, I'd like to have discussion on the charts. Can I invite your comments for the below charts which might interest you? - The first chart 1. Buy order was placed as TT to anticipate price reaction at FL marked on the chart 2. The price did not stopped by the marked FL, but broke it instead 3. Hindsight shows the price stopped by an order ignored supply way back to the left The hindsight shows that DD would have had been huge if TT was performed, however, that marked FL appeared to be a legit spot to place buy orders....
The FL did look good, but remember you can't just blindly TT all FLs. Ideally you will have one of 2 things: approach (compression, 3drive, etc..) or LTF verification (quasimodo). This one had neither, so there was no confirmation. Risky to TT. Also, i would consider it target reached.
RIP RTM - long live Nonsense Trading
  • #4,625
  • Feb 23, 2019 5:16am Feb 23, 2019 5:16am
Most of what I am seeing here is guys looking for FLs and maybe Dps and what appears to be crude MPLs? to trade from after engulfs.

I dont quite see yet the aspect of one identifying the previous trick and then going on to identify the approaching trick psychology and the trade.

Trading FLs and DPs is a great way to trade, but its simply another aspect of supply and demand trading.

When you trading supply and demand , you are not trading Stop losses and IF is a Stop Loss trader.

When you grasp how to trade stop losses youll see that very high R setups are most of what youll be into. And as Ahdat confirms, I personally almost never use engulf to find any set up I trade.

Dont get me wrong all the concepts here regarding engulf and Fls are ok, but its sort of step 3 out of 5 to finally get what IF was trying to put across.

Thats not to say you wont be successful if you keep at this current type of trading.

What will simply happen is that you'll just have a different trading style from IF( Stop loss trading VS Supply; demand;FL ;DP trading). and there is absolutely nothing wrong with that, besides this is what this particular thread is for anyway.

Success rate and how many high R trades can be obtained from this is another story but mainly I just think that noone should limit themselves to what they can learn, remove all boundaries from your mind and know that there are more dimensions to the good stuff that you already know.
  • #4,626
  • Feb 23, 2019 5:21am Feb 23, 2019 5:21am
Yea Scientist knows the orange interior and chemical . But he cant be a happy farmer who tasted the his orange.
Of course, farmer will have ups and downs in cropping . But he is still making the living by cropping the oranges.
Meantime scientist will teach the orange to others and make money.
  • #4,627
  • Feb 23, 2019 5:27am Feb 23, 2019 5:27am
Quoting mica
the 2nd chart for the interest of next week 1. if just looked the green circle, it is Eng and broke the FL marked as 1 , which suggested strongly to take Sell position 2. however, marked circle appears to be the target and reached the origin of the move up 3. trading plan next week As Sell position is favorable, and without staring at the screen, where will Sell order be placed as TT? Looks almost like guess game right now? do you agree? 1. Flag 1 ? 2. Flag 2 ? 3. Or D/P to break S/R 4. Or anything missing? Thanks, Guys. Have a nice weekend ! {image}...
It is unclear what price wants to do next, for the reasons you described. I would stay away for now and let price develop more, look for a trade with a clearer picture.
RIP RTM - long live Nonsense Trading
  • #4,628
  • Feb 23, 2019 6:14am Feb 23, 2019 6:14am
Quoting arcticmoney
{quote} I am trying GU I think the green box has no remaining order {image} EJ {image} CADJ waiting for FO M1 eng {image} CADJPY FO zone {image} EA I dont understand yet. lol {image} {image} My knowledge is limited But, market will tell
Hi Sorry instead of buying opp i have mistakenly put sell . Anyway nice try.

OK since you did some work there , i whave marked analysis in this chart.

I will ask you one question. There are two buying opp in the past . Can you identify ??

Also do you mind to give me that rectangle color indi on your chart. It seems so cool will reduce my working

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 112 KB
  • #4,629
  • Feb 23, 2019 6:25am Feb 23, 2019 6:25am
Quoting mica
Further to the above conversations, I'd like to have discussion on the charts. Can I invite your comments for the below charts which might interest you? - The first chart 1. Buy order was placed as TT to anticipate price reaction at FL marked on the chart 2. The price did not stopped by the marked FL, but broke it instead 3. Hindsight shows the price stopped by an order ignored supply way back to the left The hindsight shows that DD would have had been huge if TT was performed, however, that marked FL appeared to be a legit spot to place buy orders....
It seems you need more practice in drawing those rectangles. Are you dollar cost averaging your positions?.
  • #4,630
  • Feb 23, 2019 6:59am Feb 23, 2019 6:59am
Quoting Fxyogi
{quote} Hi Sorry instead of buying opp i have mistakenly put sell . Anyway nice try. OK since you did some work there , i whave marked analysis in this chart. I will ask you one question. There are two buying opp in the past . Can you identify ?? Also do you mind to give me that rectangle color indi on your chart. It seems so cool will reduce my working {image}
Hi Fxyogi!
That indicator's called Color levels.
Actually, I've created a modified version for personal use. It supports placing object on hotkeys, auto-extending and fast color changing.
If you're interested, give it a try
A, S, D - creating objects at cursor position
Q, W, E - changes colors of selected objects
F - toggle auto extending on/off
R - deletes all selected objects
Attached File(s)
File Type: mq4 Color Levels.mq4   25 KB | 520 downloads
  • #4,631
  • Edited 7:41am Feb 23, 2019 7:19am | Edited 7:41am
Quoting Fxyogi
{quote} Hi Sorry instead of buying opp i have mistakenly put sell . Anyway nice try. OK since you did some work there , i whave marked analysis in this chart. I will ask you one question. There are two buying opp in the past . Can you identify ?? Also do you mind to give me that rectangle color indi on your chart. It seems so cool will reduce my working {image}
Here's my view
Correct me if I'm wrong, Sir
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 45 KB


I just download Color Level from the Market on MT4 Terminal
Attached File(s)
File Type: ex4 Color Levels.ex4   26 KB | 379 downloads
  • #4,632
  • Feb 23, 2019 7:38am Feb 23, 2019 7:38am
I feel now in more in favor of this possibly happening
Attached Image (click to enlarge)
Click to Enlarge Name: EJ sell.png Size: 44 KB
  • #4,633
  • Feb 23, 2019 7:44am Feb 23, 2019 7:44am
hi, don't know what chart the pair is, so can't check, but on 1st look, i trade this TT a lot, and i like this kind of setups

i think it is A-quality setup, if
1. the FL in green ring is a htf flip (or in other words, it must be real FL)
2. the price come back with stable or strong momentum (orderbook imbalance), in your chart, it revisit with good momentum, but still failed.

fail is a fail, i'd accept it.

but i will use these considerations managing the trades.
1. my TT entries will happen in red box of the FL, marked '1'. being very stingy for my entry......
2. right after my entry, there is a drop-base-drop, marked by 2, that's bad sign, normally i directly SLed, if i cannot watch the trades.
3. Or, if i can watch, i set SL @ yellow box, a small target, marked by 4, it is because, 80%+ the price will reverse even if it breaks FL 1, because price need to "RETEST". that's market's logic. when that happen, we can exit with small loss.
4. unfortunately, another DBD, i marked the "B" with blue box '3'. so in this case, even yellow target didn't save me.
5. i use yellow box 4 as my SL (red dot line) is because the RR marked by 5 is still good. If RR is under 1, I won't do this at all.


Quoting mica
Further to the above conversations, I'd like to have discussion on the charts. Can I invite your comments for the below charts which might interest you? - The first chart 1. Buy order was placed as TT to anticipate price reaction at FL marked on the chart 2. The price did not stopped by the marked FL, but broke it instead 3. Hindsight shows the price stopped by an order ignored supply way back to the left The hindsight shows that DD would have had been huge if TT was performed, however, that marked FL appeared to be a legit spot to place buy orders....
Attached Image (click to enlarge)
Click to Enlarge Name: 2019-02-23_07h25_32.png Size: 199 KB
  • #4,634
  • Feb 23, 2019 7:49am Feb 23, 2019 7:49am
Quoting Ltrader16
I feel now in more in favor of this possibly happening {image}
Do you just look for MPL or waiting if there is a cap or something?

Even I know your chart now it is not MPL cause it is not complete yet.

So fast......

By the way....
When I see a good PA QM/DM sometime I can't find its MPL or may be there is no......

Unexpereienced with this....
RIP RTM
  • #4,635
  • Feb 23, 2019 8:10am Feb 23, 2019 8:10am
Quoting arcticmoney
{quote} Here's my view Correct me if I'm wrong, Sir {image} I just download Color Level from the Market on MT4 Terminal {file}
Attached Image (click to enlarge)
Click to Enlarge Name: 2019-02-23_22-06-42 GU PA.png Size: 69 KB


I have marked the PA. Now u need to see how price reacted after the PA and see where it retraced and see the common happening 90% of the time.

That is ENG first and then FO then reverse to what we call as Target. This is our edge . This is our only edge.
  • #4,636
  • Feb 23, 2019 8:18am Feb 23, 2019 8:18am
Quoting Fxyogi
{quote} {image} I have marked the PA. Now u need to see how price reacted after the PA and see where it retraced and see the common happening 90% of the time. That is ENG first and then FO then reverse to what we call as Target. This is our edge . This is our only edge.
So where is the Stop Loss Trading?
RIP RTM
  • #4,637
  • Feb 23, 2019 8:24am Feb 23, 2019 8:24am
Quoting hendzwoter
{quote} So where is the Stop Loss Trading?
  • #4,638
  • Feb 23, 2019 8:53am Feb 23, 2019 8:53am
Quoting Fxyogi
{quote}
I guess,
Nowadays,
RTM touch trading is beyond CP and BSZ .........

Is it another edge?
RIP RTM
  • #4,639
  • Feb 23, 2019 9:16am Feb 23, 2019 9:16am
Quoting Fxyogi
{quote} {image} I have marked the PA. Now u need to see how price reacted after the PA and see where it retraced and see the common happening 90% of the time. That is ENG first and then FO then reverse to what we call as Target. This is our edge . This is our only edge.
How were you completely sure price still had a room to FO south? At first glance it had already reached it's target at the end of CP ( btw is there a way to trade this?). Something tells me it's a question of Scale.
Attached Image (click to enlarge)
Click to Enlarge Name: cpend.png Size: 34 KB
  • #4,640
  • Feb 23, 2019 11:23am Feb 23, 2019 11:23am
Quoting Uderfrykte
{quote} How were you completely sure price still had a room to FO south? At first glance it had already reached it's target at the end of CP ( btw is there a way to trade this?). Something tells me it's a question of Scale. {image}
when you zoom in to the LTF , and check the LTF origin , did u also check your eng has hit its target in that TF??.
But in another higher scale you have the eng , meaning is that your origin in that Higher scale still has room to FO.
I didnt say i am completely sure. But when there is a room then my best bet is after the FO.
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