Setups/breakouts i am looking forward to.
AUD/CAD breakout. weekly and daily chart.
The breakout of that triangle/pennant will be nice.
AUD/CAD breakout. weekly and daily chart.
The breakout of that triangle/pennant will be nice.
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DislikedSo, I looked further into this supply & demand stuff and came to the conclusion that this filters out good vs. bad levels.
What one needs to do is to find a recent run and then look historically which wicks add up at that level.
Interestingly it really holds true that very often price will touch the level and return back from where it came. So this has in my opinion a high win loss and can have a really high R:R.
cheersIgnored
DislikedHi Custos,
I also found some stuff on this supply/demand concept - it cleared up a lot of uncertainty re S/R levels. I think what stands out for me is the creation of imbalance at these levels and the ID'ing of that imbalance with candles formations.
I found quite a bit of information in this FF thread: http://www.forexfactory.com/showthread.php?t=216241
Example of shift in Supply Demand : gbp/usd chart attached (red arrows) yesterday and today...
Keep well
PIgnored
DislikedSo, I looked further into this supply & demand stuff and came to the conclusion that this filters out good vs. bad levels.
What one needs to do is to find a recent run and then look historically which wicks add up at that level.
Interestingly it really holds true that very often price will touch the level and return back from where it came. So this has in my opinion a high win loss and can have a really high R:R.
Attached is eur/gbp. First we look where we have a recent run and then we find the demand/supply zone from which lots of moves happened....Ignored
DislikedHi Custos,
I also found some stuff on this supply/demand concept - it cleared up a lot of uncertainty re S/R levels. I think what stands out for me is the creation of imbalance at these levels and the ID'ing of that imbalance with candles formations.
I found quite a bit of information in this FF thread: http://www.forexfactory.com/showthread.php?t=216241
Example of shift in Supply Demand : gbp/usd chart attached (red arrows) yesterday and today...
Keep well
PIgnored
Dislikedsorry, took a bit longer than expected. But here are two examples.
First two charts show a d1 eur/usd supply/demand zone and the resulting S/R level. then again, since price is above, you take the lower end of the zone to get the S/R level.
The other two charts are similar. They are h1 eur/usd.
But of course it doesn't work out everytime like this, but surprisingly it does very often.
cheersIgnored
DislikedThanks custos. will have a look today or tomorrow.
Sorry been busy with personal stuff.
Anyone with some nice setups forming?Ignored
Dislikedsorry, took a bit longer than expected. But here are two examples.
First two charts show a d1 eur/usd supply/demand zone and the resulting S/R level. then again, since price is above, you take the lower end of the zone to get the S/R level.
The other two charts are similar. They are h1 eur/usd.
But of course it doesn't work out everytime like this, but surprisingly it does very often.
cheersIgnored
Disliked
There is one more thing which i think need to be considered while identifying the S/R levels ...i.e. to watch for the traffic/congestion or space on the left .... because if there is more space on the left of chart then the chance of price going farther and longer increases significantly.
I hope i made myself clear ....
cheersIgnored
Dislikedhope all is well mktscape. i occasionally overwork myself and get eye strain, where I essentially feel dizzy sitting in front of the computer. make sure your trading room is well ventilated too, as stale and congested air can lead to drowsiness which can affect your tradingIgnored
Dislikedok here we go. Example of traffic/congestion & clear space on the left.Ignored
Dislikedhm, okay, I know what you mean.
That is a great point for discussion.
Is it better to have traffic to the left or to not have traffic?
There are arguments for both scenarios I think.
If price had lots of problems, meaning lots of touches and bounces off a level, then it should have troubles again in future (argument for having traffic).
If price didn't stay long at a level historically and either broke through or jumped off that level in a very strong way, then it should do that again, cause price doesn't seem to like that level. (argument for...Ignored