Thought this looked like a nice sell, although maybe that swap zone might be troubling later.. will update how this goes. Any opinions welcome.
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Price Will Tell - Supply/Demand Price Action Trading 1,854 replies
Supply and Demand Thread using any Indicator 64 replies
C-12's Supply, Demand and PA thread 7,761 replies
Disliked{quote} Hi Winston, Good call - looks like it hit TP if you managed to get in. Wanted to know if the demand area at the bottom you identified is the same one as the one I have marked out here? Seems like you used candle 2 (I was looking at looking around candle 1 for demand). Any particular reason why you used 2 instead of the bigger WRB at 1, which was also the origin of the move? {image}Ignored
Disliked{quote} I have a couple of questions: 1.why you had a buy limit in that exact place? If you wanted to have confirmation from the zone we already had a demand bar that price tested so the current bar on your chart would be an entry (2. why not to enter on that?) 3.was there a confirmation reason you were looking for so as not to enter right away from the zone? 4. why not to draw it as a swap, from the previous wrb down bar (see my chart, the arrow pointed)? the up bars were not so significant... {image}Ignored
Disliked{quote} The blue arrow points to a WRB that took out somewhat of a shelf to the left. The shelf essentially is an area where in this case sellers seem to be defending. The WRB cleared this area and closed well above it and to me constitutes a swap if only on a bar level. This to me was potential confirmation. Any PA prior to this did not impress me. That doesn't mean that there wasn't PA that some found valuable as an entry signal. Price moved away a bit then returned to the area. My limit order was a little lower at the base of the WRB. The supply...Ignored
DislikedI need to say something here about supply and demand zones. These zones can be very subjective and because of that I believe that one should be very careful about placing all their faith in them.Ignored
DislikedI use WRBs as a somewhat objective indication of supply and demand and really if I could I wouldn't even call them zones. The WRBs potentially identify interesting areas where buyers or sellers showed themselves.Ignored
DislikedThe rectangles or boxes to me just highlight the area and I do not look at them as a "trigger zone". Trades may occur below or above them when PA is favorable.Ignored
DislikedIf you're going to take trades outside of the Zone, why identify the Zone in the first place? Moreover, an "Entry Signal Zone" represents the best place to take a trade. Accordingly, by definition, when a trade is taken outside that Zone, it is not the best place to take it. Does that mean a trade taken above or below a Zone will never work? Of course not. But if a trader is not willing to restrict their trades to only those signals that share at least one tick/pip with the Zone, what is the purpose of identifying them?Ignored
Disliked{quote} great post, you presented it very good what i was thinking. i have watched 6h+ videos from one of the Winstons mentors (he mentioned it in one pdf, dont know if he wants to mention him again), but after so many hours spent on listening to his views, i get it... ..from where comes the idea, not to treat the zone as a zone from which to trade. Nevertheless, i think it should be identified as a place of interest from where we want to take the position, other thing is how we will identify whether treat it as a buy zone or sell zone or swap,...Ignored
Disliked{quote} great post, you presented it very good what i was thinking. i have watched 6h+ videos from one of the Winstons mentors (he mentioned it in one pdf, dont know if he wants to mention him again), but after so many hours spent on listening to his views, i get it... ..from where comes the idea, not to treat the zone as a zone from which to trade. Nevertheless, i think it should be identified as a place of interest from where we want to take the position, other thing is how we will identify whether treat it as a buy zone or sell zone or swap,...Ignored