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ReadtheMarket - Supply and Demand with Price Action

  • #6,841
  • Aug 29, 2020 11:22am Aug 29, 2020 11:22am
Quoting KingBruceLee
{quote} SL around 1965.5? Your TG is exactly where I would buy.
Mr KingBrucelee

Good decision point yes but for me price went to that origin with strong momentum...
  • #6,842
  • Aug 30, 2020 1:54am Aug 30, 2020 1:54am
NZDJPY template for trading. What do you think guys?
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  • #6,843
  • Aug 30, 2020 3:22am Aug 30, 2020 3:22am
Quoting KingBruceLee
{quote} Your green boxes are obviously fine, but inside them there are zones that can turn the price like on the example below. I put just couple rectangles here so chart won't be looking like xmass tree. Im not that bad with finding entry zones but I'm terrible with exits. Most of the time ( if I don't do really stupid things) price bounces from my markings but I often hold it too long or too short. Thats because I still struggle with so called "engulfing signal" and "reached target". {image} {image}

Nice price reading. love it
  • #6,844
  • Aug 30, 2020 3:52am Aug 30, 2020 3:52am
Quoting Copis
{quote} yes you can trade this but its an loser an that is an part of the game we play. {image}
Hi Sir Copis. your setup was double top + stop hunter under the true dp up. As you said there is a fresh dp left so your SL should be above it
  • #6,845
  • Edited 7:46am Aug 30, 2020 6:50am | Edited 7:46am
Quoting goruswekrus
NZDJPY template for trading. What do you think guys? {image}
These are the kind of trades that make your whole month
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if you can't explain it simply you don't understand it well enough
  • #6,846
  • Aug 31, 2020 12:08am Aug 31, 2020 12:08am
The same pattern takes place repeatedly. It is finding the exact entry that causes compulsive obsessions
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  • #6,847
  • Aug 31, 2020 5:50am Aug 31, 2020 5:50am
Quoting mvf
The same pattern takes place repeatedly. It is finding the exact entry that causes compulsive obsessions {image} {image} {image}
I am in the UJ trade very similar to yours.
  • #6,848
  • Aug 31, 2020 10:29am Aug 31, 2020 10:29am
Didn't trade that. No eng down cause of CP?
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  • #6,849
  • Aug 31, 2020 11:14am Aug 31, 2020 11:14am
Quoting KingBruceLee
Didn't trade that. No eng down cause of CP? {image}
IMHO, it was the beginning of the moving up, where a buy is something to look into. hindsight shows that move.
since it was already in high time frame, when going up to daily and even weekly, it still has plenty room to move up.
in this case, looking into buy opportunity might be a preferable option. Any low time sell would have to be subject to confirmation, quick in and quick out.
  • #6,850
  • Aug 31, 2020 11:27am Aug 31, 2020 11:27am
Just found out I had this one marked
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  • #6,851
  • Aug 31, 2020 2:20pm Aug 31, 2020 2:20pm
Quoting fdx
{quote} I am in the UJ trade very similar to yours.
my view is once red box is breached, it goes up where tp is set.
will give it a try to see breach before closing the position.
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  • #6,852
  • Aug 31, 2020 4:31pm Aug 31, 2020 4:31pm
Quoting mvf
{quote} IMHO, it was the beginning of the moving up, where a buy is something to look into. hindsight shows that move. since it was already in high time frame, when going up to daily and even weekly, it still has plenty room to move up. in this case, looking into buy opportunity might be a preferable option. Any low time sell would have to be subject to confirmation, quick in and quick out.
I agree with you on that one... I was not able to trade today but very nice opportunity on UJ. Engulf into CP showed its target for the future IMHO... I hope for a retrace...
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Live it or leave it!
  • #6,853
  • Aug 31, 2020 5:45pm Aug 31, 2020 5:45pm
Quoting Slurpee
{quote} I agree with you on that one... I was not able to trade today but very nice opportunity on UJ. Engulf into CP showed its target for the future IMHO... I hope for a retrace... {image}
LSK was hit here
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aka Liquinvest
  • #6,854
  • Aug 31, 2020 9:12pm Aug 31, 2020 9:12pm
Quoting KingBruceLee
{quote} Your green boxes are obviously fine, but inside them there are zones that can turn the price like on the example below. I put just couple rectangles here so chart won't be looking like xmass tree. Im not that bad with finding entry zones but I'm terrible with exits. Most of the time ( if I don't do really stupid things) price bounces from my markings but I often hold it too long or too short. Thats because I still struggle with so called "engulfing signal" and "reached target". {image} {image}
Hi kingbrucelee,

interesting post as this is exactly what i have been struggling for some times. the safest way is to expect the entry on the extreme, but i would miss a lot of nice trades.
i see you marked the FL flips of the LTF to determine the smaller entry zone, but as you said before, there is a lot of them and do you enter using confirmation after it bounce off those smaller zones? it would be great if you (and others) can elaborate about this.

i also posted a chart from EG (25 Aug) with similar problem. there is more of them that i have compiled lol.
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thanks!
Ask, and it is given. Every single time, no exceptions.
  • #6,855
  • Aug 31, 2020 10:19pm Aug 31, 2020 10:19pm
Quoting Slurpee
{quote} I agree with you on that one... I was not able to trade today but very nice opportunity on UJ. Engulf into CP showed its target for the future IMHO... I hope for a retrace... {image}
I was greedy.. should have closed immediate next target. But I am glad I was able to take trade that most of the RTM followers took.
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  • #6,856
  • Aug 31, 2020 11:41pm Aug 31, 2020 11:41pm
Quoting mvf
{quote} IMHO, it was the beginning of the moving up, where a buy is something to look into. hindsight shows that move. since it was already in high time frame, when going up to daily and even weekly, it still has plenty room to move up. in this case, looking into buy opportunity might be a preferable option. Any low time sell would have to be subject to confirmation, quick in and quick out.
how do you define the origin of a move?
  • #6,857
  • Sep 1, 2020 12:31am Sep 1, 2020 12:31am
Quoting AnonymousGee
{quote} how do you define the origin of a move?
no privilege to define anything here, but someone did just that long time ago for us.
IF defined it precisely on the first page of this forum.
  • #6,858
  • Sep 1, 2020 12:54am Sep 1, 2020 12:54am
Quoting mvf
{quote} no privilege to define anything here, but someone did just that long time ago for us. IF defined it precisely on the first page of this forum.
OOOH, i have a sketch of how i see it. i dont know if am right
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  • #6,859
  • Sep 1, 2020 1:20am Sep 1, 2020 1:20am
Quoting fdx
{quote} I was greedy.. should have closed immediate next target. But I am glad I was able to take trade that most of the RTM followers took. {image}
no worries, it is human nature.
sometime it works out well, like this UC, still in it, but how many turns that could scare one out of the play.
So by following this pattern, one can get in a good trade, then expectation management kicks in.
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  • #6,860
  • Sep 1, 2020 2:20am Sep 1, 2020 2:20am
Quoting Copis
{quote} LSK was hit here {image}
yeah, definitely... but it also breached the CP so I believe it might want the other side of the CP...
Live it or leave it!
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