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ReadtheMarket - Supply and Demand with Price Action

  • #6,621
  • Jul 28, 2020 12:10pm Jul 28, 2020 12:10pm
entry got hit in the zone. If target in this time frame could not hold, there would be no exit for the positions
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  • #6,622
  • Jul 29, 2020 1:12am Jul 29, 2020 1:12am
Another one. Purple line is an old pre-cp. FL was created breaking that line. Then that FL is broken down, retraced back to source FL.. then Sell.

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  • #6,623
  • Jul 29, 2020 2:48am Jul 29, 2020 2:48am
Quoting fdx
Another one. Purple line is an old pre-cp. FL was created breaking that line. Then that FL is broken down, retraced back to source FL.. then Sell. {image}
This worked so well. Just now.

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  • #6,624
  • Jul 29, 2020 3:01am Jul 29, 2020 3:01am
Quoting fdx
{quote} This worked so well. Just now. {image}
What do you guys say?
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  • #6,625
  • Jul 29, 2020 3:09am Jul 29, 2020 3:09am
Hope This Give a clear Idea of How and where to Draw FL

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Thanks to RTM
  • #6,626
  • Jul 29, 2020 3:14am Jul 29, 2020 3:14am
Quoting CrowEye
Hope This Give a clear Idea of How and where to Draw FL {image}{image} Thanks to RTM
You can mark a FTR as a FL only when price hits the next Opposite FL. Thats the only requirement AFAIK. Has If mentioned otherwise?
  • #6,627
  • Jul 29, 2020 3:59am Jul 29, 2020 3:59am
Quoting fdx
{quote} Sorry just logged in. I will post the correct one.. In the mean time I analysed the 5 min chart, later I saw that there are few engulfs but i missed them. I am also learning. We all can learn together. In the below image, I can see the engulf, but it has not hit the next FL after retracing back to the source FL. Lets see what happens next.. If it doesn't hit the next FL, probably my FL drawings are not correct AGAIN. {image}
So price didnt hit the next FL, instead it went up breaking the UFL.. I feel like I have not drawn a FL after an engulf.
  • #6,628
  • Jul 29, 2020 5:01am Jul 29, 2020 5:01am
Quoting CrowEye
Hope This Give a clear Idea of How and where to Draw FL {image}{image} Thanks to RTM
When you look the QML vid from IF then you will see he only mark FTR/FL after we hit the next Zone otherwise its only an engulf
1
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2
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aka Liquinvest
  • #6,629
  • Jul 29, 2020 5:18am Jul 29, 2020 5:18am
Good To see my mistakes and got the clear way to mark FL as shown by to FF Members Thanks .

I wish if we all work together and make some MT4 Templates with FL and share here so it will be very much helpful and also will make this a best Community .
  • #6,630
  • Jul 29, 2020 6:41am Jul 29, 2020 6:41am
Quoting CrowEye
This is what I call a sure shot setup {image}
Hi,Croweye...can you please mark QM in this diagram of yours...where is h,l,hh,ll...thanks
  • #6,631
  • Jul 29, 2020 7:23am Jul 29, 2020 7:23am
Quoting Imfx1234
{quote} Hi,Croweye...can you please mark QM in this diagram of yours...where is h,l,hh,ll...thanks
Here u Go...
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  • #6,632
  • Jul 29, 2020 8:55am Jul 29, 2020 8:55am
Quoting CrowEye
{quote} Here u Go... {image}
Thank you,so if that LL had touched the lower level which is ignored qm level....this qm wont work,correct?
  • #6,633
  • Jul 29, 2020 9:04am Jul 29, 2020 9:04am
Quoting Imfx1234
{quote} Thank you,so if that LL had touched the lower level which is ignored qm level....this qm wont work,correct?
It may work but the odds are lower imo.
  • #6,634
  • Jul 29, 2020 9:04am Jul 29, 2020 9:04am
Quoting Imfx1234
{quote} Thank you,so if that LL had touched the lower level which is ignored qm level....this qm wont work,correct?
Yes Because For Trading Direction We Need Space Between FL and if the LL have Touched the iQM Lvl then its not valid for safe trade .

Quoting Imfx1234
{quote} Thank you,so if that LL had touched the lower level which is ignored qm level....this qm wont work,correct?
Also there might be a trade still valid if the MPL of the iQM Lvl is fresh .
  • #6,635
  • Jul 29, 2020 9:06am Jul 29, 2020 9:06am
Quoting fdx
{quote} In a hindsight, following one should work. See the FL i have marked with red cross. That is the FL that you asked about also. If you zoom out the image you will see that kink cannot be a FL. there is no proper high or low to the left. I should have marked the big red FL instead. Thats the corresponding FL of the high to the left. Second one is a good SR flip which I missed. It is clearly visible in that scale. So I marked it in red too. So we have a trade. But this is in a hindsight. Still we can learn from these mistakes. {image}
Okay I can see how this makes a lot of sense now. Thanks for explaining fdx.

Doing markups in hindsight is still good practice in my opinion. Soon we will be marking them live and with confidence.
  • #6,636
  • Jul 29, 2020 9:15am Jul 29, 2020 9:15am
Quoting CrowEye
{quote} Yes Because For Trading Direction We Need Space Between FL and if the LL have Touched the iQM Lvl then its not valid for safe trade . {quote} Also there might be a trade still valid if the MPL of the iQM Lvl is fresh .
Hi Croweye,
One thing the qm is mostly formed after an ignored resistamce or support?
  • #6,637
  • Jul 29, 2020 11:45am Jul 29, 2020 11:45am
Quoting fdx
{quote} Sorry just logged in. I will post the correct one.. In the mean time I analysed the 5 min chart, later I saw that there are few engulfs but i missed them. I am also learning. We all can learn together. In the below image, I can see the engulf, but it has not hit the next FL after retracing back to the source FL. Lets see what happens next.. If it doesn't hit the next FL, probably my FL drawings are not correct AGAIN. {image}
Just a thought. Maybe this was the target based on this level?
Again I am still learning so I could be wrong.
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  • #6,638
  • Jul 29, 2020 11:49am Jul 29, 2020 11:49am
Quoting fdx
{quote} What do you guys say? {image}
The retrace was not as deep as expected.
Could it be because there was a new FL at the point of retrace?

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  • #6,639
  • Jul 29, 2020 12:14pm Jul 29, 2020 12:14pm
Quoting Imfx1234
{quote} Hi Croweye, One thing the qm is mostly formed after an ignored resistamce or support?

Let Me Share some Ignored SR and Used SR Images .

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Quoting CrowEye
{quote} Let Me Share some Ignored SR and Used SR Images . {image}
Don't mistake by assuming the Red and Blue Box as FL as they are not FL they are RS Kink which is very important point to check for RS as while marking RS its not just to the Pip it can be wide with a retracement after the break so we mark the Break - Retrace - Break of RS as as RS Kink and it can be used as Target and as for Entry also .
  • #6,640
  • Jul 29, 2020 2:15pm Jul 29, 2020 2:15pm
Quoting Copis
{quote} When you look the QML vid from IF then you will see he only mark FTR/FL after we hit the next Zone otherwise its only an engulf 1 {image} 2 {image}
How do you guys think, was there space or TG got hit? (thats from 2018)
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