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ReadtheMarket - Supply and Demand with Price Action

  • #6,081
  • Apr 22, 2020 4:31am Apr 22, 2020 4:31am
Quoting hendzwoter
{quote} Fail? It works. You know I learn it by myself. So when I look at your chart and everybody else. Man... Really different. I am shocked everybody is on the same thing but... Yeah.... I know it is very vulgar to say that, "Man, you are naked right now". My attitude is kinda the worst. Look at D-alpha's chart. There is nothing different with your chart. I want to say that, "Hey, you need more than that". Now, I am not. Better all of you trade that way. Don't care about me man. This will be my last post. ----------------------------------------...
Thanks, take care
RIP RTM - long live Nonsense Trading
  • #6,082
  • Apr 22, 2020 4:41am Apr 22, 2020 4:41am
Quoting ahdat
{quote} Hendzwoter is your man
Really?

Actually this post kinda will be my latest post.

So there is a QM level followed with a supply.
The SL is so big.
And already got consumed.

Then,
I expect this will turn the price down. Why not? Like most of you said. Touch trade on LSK. The LSK has not consumed yet.

Will it works?

I don't know. I post it here not to be a signal trading.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_2020-04-22-16-34-40-583_net.metaquotes.metatrader4.jpg Size: 316 KB
RIP RTM
  • #6,083
  • Apr 22, 2020 4:46am Apr 22, 2020 4:46am
Quoting hendzwoter
{quote} Really? Actually this post kinda will be my latest post. So there is a QM level followed with a supply. The SL is so big. And already got consumed. Then, I expect this will turn the price down. Why not? Like most of you said. Touch trade on LSK. The LSK has not consumed yet. Will it works? I don't know. I post it here not to be a signal trading. {image}
Yes, why not? If you say you have success trading now, why should I doubt you? Maybe I assumed incorrectly. Spread your knowledge. DragonChaser didn’t say anything to you
RIP RTM - long live Nonsense Trading
  • #6,084
  • Apr 22, 2020 6:26am Apr 22, 2020 6:26am
Quoting hendzwoter
{quote} Good bye everybody.
Goodbye
Ask, and it is given. Every single time, no exceptions.
  • #6,085
  • Apr 22, 2020 6:54am Apr 22, 2020 6:54am
Come on guys. quit fighting over who is the better trader.

Fight instead over who will mentor me
  • #6,086
  • Apr 22, 2020 7:15am Apr 22, 2020 7:15am
Henzwoter: the following Youtube song is for your. (just ignore the part that says i love you)

https://www.youtube.com/watch?v=w-l5FyA3pgo
  • #6,087
  • Apr 22, 2020 7:39am Apr 22, 2020 7:39am
Quoting DragonChaser
Come on guys. quit fighting over who is the better trader. Fight instead over who will mentor me
If you want you can join the discord group. Its not gonna be a specific person who teach you but we learn together there.
Ask, and it is given. Every single time, no exceptions.
  • #6,088
  • Apr 22, 2020 7:57am Apr 22, 2020 7:57am
Quoting ahdat
{quote} Ahh not in front of a computer but probably. All major news events are good examples
Attached Image (click to enlarge)
Click to Enlarge Name: ask fxfactory.png Size: 205 KB


Can you tell me what I did wrong? I believe that price made an useful ENG down, but it broke what I believe to be the source (the yellow rectangle on top). There also seems to be a trick (white horizontal line) on the way to source.
  • #6,089
  • Apr 22, 2020 8:07am Apr 22, 2020 8:07am
Quoting Enlightenme
{quote} {image} Can you tell me what I did wrong? I believe that price made an useful ENG down, but it broke what I believe to be the source (the yellow rectangle on top). There also seems to be a trick (white horizontal line) on the way to source.
The trick is the key. They often (not always) FO to a level beyond to take stops before moving. Keep an eye for those during your study
RIP RTM - long live Nonsense Trading
  • #6,090
  • Apr 22, 2020 8:22am Apr 22, 2020 8:22am
Quoting ahdat
{quote} The trick is the key. They often (not always) FO to a level beyond to take stops before moving. Keep an eye for those during your study
Just to be clear you are referring to the BSZ in the picture right?
  • #6,091
  • Apr 22, 2020 9:29am Apr 22, 2020 9:29am
Quoting beefStew
{quote} If you want you can join the discord group. Its not gonna be a specific person who teach you but we learn together there.
I'd be keen to join the group if it's an option. I'm not sure how to find the details though
Call me FT if it's easier. Still demo trading.
  • #6,092
  • Apr 22, 2020 9:31am Apr 22, 2020 9:31am
Quoting Enlightenme
{quote} Just to be clear you are referring to the BSZ in the picture right?
Not specifically, but this bsz here makes a nice FO lvl. You can see it even goes beyond the zone you drew. Personally I don’t like trading news. I usually get in before it happens. If I can’t, I just wait for the the initial moves and try to get in after. The spread and slippage makes the risk too high. It looks cool but not really worth it practically for me.
RIP RTM - long live Nonsense Trading
  • #6,093
  • Apr 22, 2020 10:03am Apr 22, 2020 10:03am
Quoting beefStew
{quote} If you want you can join the discord group. Its not gonna be a specific person who teach you but we learn together there.
Yes. Kindly send me an invitation. thanks
  • #6,094
  • Apr 22, 2020 11:34am Apr 22, 2020 11:34am
https://www.forexfactory.com/attachm...5&d=1587573243
Attached Image (click to enlarge)
Click to Enlarge Name: engulf.PNG Size: 220 KB
  • #6,095
  • Apr 22, 2020 11:36am Apr 22, 2020 11:36am
for that image above, do we not have more than 2 instances of engulf and deep retrace? How do we know which ones to use and which ones to ignore?
  • #6,096
  • Apr 22, 2020 12:23pm Apr 22, 2020 12:23pm
Quoting DragonChaser
for that image above, do we not have more than 2 instances of engulf and deep retrace? How do we know which ones to use and which ones to ignore?
I believe the idea is that you draw each of the flag limits, as you describe, as price rises, and then when one of them gets engulfed downwards, you know that price will hit the next one down before it can break the one above the broken one. The engulf is the signal of intent to hit the next lower one.
Call me FT if it's easier. Still demo trading.
  • #6,097
  • Apr 22, 2020 12:30pm Apr 22, 2020 12:30pm
Something like this:

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH4.png Size: 52 KB
Call me FT if it's easier. Still demo trading.
  • #6,098
  • Apr 22, 2020 12:35pm Apr 22, 2020 12:35pm
Quoting XXXXFactTree
Something like this: {image}
Holy shit. Thanks for the explanation FactTree.
  • #6,099
  • Apr 22, 2020 12:40pm Apr 22, 2020 12:40pm
So FactTree:

As the price falls it's forming a compression down (meaning taking out all the supply zones) to the lowest demand zone. so when the price is moving back up from that lowest demand zone it will move very easily because there are on longer any supply zones to slow down the move up.
  • #6,100
  • Apr 22, 2020 12:44pm Apr 22, 2020 12:44pm
Quoting DragonChaser
So FactTree: As the price falls it's forming a compression down (meaning taking out all the supply zones) to the lowest demand zone. so when the price is moving back up from that lowest demand zone it will move very easily because there are on longer any supply zones to slow down the move up.
I hadn't really considered the compression in that example but sure, well spotted. It certainly does move back upwards very easily at the end of my image there!
Call me FT if it's easier. Still demo trading.
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