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ReadtheMarket - Supply and Demand with Price Action

  • #6,001
  • Apr 13, 2020 3:24am Apr 13, 2020 3:24am
FL Engulfed. Short GBPCAD. Let's see.

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  • #6,002
  • Apr 13, 2020 3:31am Apr 13, 2020 3:31am
Swing Low Engulfed. Short USDCHF at SR Flip.
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  • #6,003
  • Apr 13, 2020 7:20am Apr 13, 2020 7:20am
Quoting libracat
Swing Low Engulfed. Short USDCHF at SR Flip. {image}
Stopped out.
  • #6,004
  • Apr 13, 2020 10:06am Apr 13, 2020 10:06am
Quoting libracat
FL Engulfed. Short GBPCAD. Let's see. {image}
Stopped out. Guess I'm still not able to recognize a FL.
  • #6,005
  • Apr 13, 2020 11:08am Apr 13, 2020 11:08am
Quoting libracat
{quote} Stopped out. Guess I'm still not able to recognize a FL.
If it makes you feel any better, libracat, the engulf didn't even happen on my Tickmill Demo chart.

Attached Image (click to enlarge)
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Call me FT if it's easier. Still demo trading.
  • #6,006
  • Apr 13, 2020 11:47am Apr 13, 2020 11:47am
Quoting libracat
Swing Low Engulfed. Short USDCHF at SR Flip. {image}
Although there was indeed a swing low here, libracat, I think what we need to see is an engulf that is a reaction to a higher TF zone, rather than just a lower low in any situation. In this case, the lower low appears to have reached a lower zone as its target, before moving back up from there.

Attached Image (click to enlarge)
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If we see an M15 engulf down from this H1 zone above then we can perhaps assign it more meaning, for example.

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I'm a learner so take this with a pinch of salt of course!
Call me FT if it's easier. Still demo trading.
  • #6,007
  • Edited 12:15pm Apr 13, 2020 11:56am | Edited 12:15pm
Me too...
I'm not sure so I use stoploss....

May be not work...

Edit:
Looks like it is
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RIP RTM
  • #6,008
  • Apr 13, 2020 3:12pm Apr 13, 2020 3:12pm
Quoting XXXXFactTree
{quote} If it makes you feel any better, libracat, the engulf didn't even happen on my Tickmill Demo chart. {image}
Thx Facttree. Guess I should change broker.
  • #6,009
  • Apr 13, 2020 3:15pm Apr 13, 2020 3:15pm
Quoting XXXXFactTree
{quote} Although there was indeed a swing low here, libracat, I think what we need to see is an engulf that is a reaction to a higher TF zone, rather than just a lower low in any situation. In this case, the lower low appears to have reached a lower zone as its target, before moving back up from there. {image} If we see an M15 engulf down from this H1 zone above then we can perhaps assign it more meaning, for example. {image} I'm a learner so take this with a pinch of salt of course!
Thanks again Facttree. Reading the market means always look to the left. Hope I'll learn that someday.
  • #6,010
  • Apr 13, 2020 11:33pm Apr 13, 2020 11:33pm
FL engulfed?! Short GBPJPY at QM level.
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  • #6,011
  • Apr 13, 2020 11:57pm Apr 13, 2020 11:57pm
Quoting libracat
FL Engulfed. Short GBPCAD. Let's see. {image}
i dont understand, whats the signifcance of the blue rect?
RIP RTM - long live Nonsense Trading
  • #6,012
  • Apr 14, 2020 1:35am Apr 14, 2020 1:35am
Quoting libracat
FL engulfed?! Short GBPJPY at QM level. {image}
In the fact there is no such spike on my live account on GJ
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  • #6,013
  • Apr 14, 2020 2:23am Apr 14, 2020 2:23am
Quoting ahdat
{quote} i dont understand, whats the signifcance of the blue rect?
I thought that the red line is a SR which held price down couple of times. So the blue rectangle is the Flag Limit which got engulfed. But I'm still learning and not sure if it's correct. Appreciate every comment.
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  • #6,014
  • Apr 14, 2020 2:26am Apr 14, 2020 2:26am
Quoting Milan
{quote} In the fact there is no such spike on my live account on GJ {image}
Again!!?? Definitely will change my broker.
  • #6,015
  • Apr 14, 2020 3:51am Apr 14, 2020 3:51am
Quoting libracat
{quote} I thought that the red line is a SR which held price down couple of times. So the blue rectangle is the Flag Limit which got engulfed. But I'm still learning and not sure if it's correct. Appreciate every comment. {image}
i was referring to gbpcad but looks like you're trading all the gbp pairs and they all made a similar move. Yes your zone was engulfed but it simply hit another zone right below it. there's no space
RIP RTM - long live Nonsense Trading
  • #6,016
  • Apr 14, 2020 5:31am Apr 14, 2020 5:31am
Quoting libracat
FL engulfed?! Short GBPJPY at QM level. {image}
Closed for some pips, maybe a little too early.
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  • #6,017
  • Apr 14, 2020 5:33am Apr 14, 2020 5:33am
Quoting ahdat
{quote} i was referring to gbpcad but looks like you're trading all the gbp pairs and they all made a similar move. Yes your zone was engulfed but it simply hit another zone right below it. there's no space
So what youre saying is that it already reached its target by the engulf?
  • #6,018
  • Apr 14, 2020 6:23am Apr 14, 2020 6:23am
Quoting libracat
{quote} So what youre saying is that it already reached its target by the engulf?
Yea exactly. Your trade above has a good example of engulf with space
RIP RTM - long live Nonsense Trading
  • #6,019
  • Edited 7:22am Apr 14, 2020 6:41am | Edited 7:22am
Quoting libracat
{quote} Closed for some pips, maybe a little too early. {image}
nice trade. there's really good PA on this one. Easy 20r here, some notes

Attachment g
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RIP RTM - long live Nonsense Trading
  • #6,020
  • Apr 14, 2020 7:18am Apr 14, 2020 7:18am
Quoting ahdat
{quote} nice trade. there's really good PA on this one. Easy 20r here, some notes {image}
Thanks for the explanation. Never payed attention to the space to the next zone. Thought it would always go to the origin of the move.


Anyway, here's another one. Short on EU. Would you consider the yellow rectangle as space until next zone?
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