Suppy, Demand and Price Action

Here's my first journal entry. The background chart is the 3h eur/usd, and we're at supply showing rejection. The smaller chart is a 30m upthrust and there's a pending order below.

Got filled while I was posting that, here is my stop and target placement.

Edit: I plan on moving my stop to BE at demand if I'm able to be around a computer. I have class in a few hours and I have to do a lot of home work and I plan on going to the gym before class.

I would have done these things earlier but I just installed a Dual head unit with MP3 aux imput, 600W Boss amp and a 10" Pioneer sub in my girlfriends cart. It's my first install so it took forever to get the wiring done I had to spend every dime I had on tools and other random stuff just to get the equipment and wiring installed. Anyways I finished yesterday so we went on a cruise today. I have two days off per week from work but I still have classes (tuesday and thrusday).

I'll add to my EU short if the low of this no demand is broken soon. The first highlighted bar is a buying climax into supply



Edit:

This is a 15m and my stops are above the high that is to the left

Short on the break of this no demand.

Stopped on those

My schedule is very busy and it's hard to say when I'm going to be able to focus on the markets. I have been trading using just limit orders at supply and demand and that went really well until I started placing my trades at poor quality SD levels.

I would like to start monitoring price action at these levels, and also I would like to try to incorporate VSA trading that I was starting to get the hang of before I my schedule got crazy.

The way I traded VSA was: use the 21 hull to determine trend on 4h, then on smaller TF (5m, 15m, 30m) identify signs of strength/weakness during a dip/rally, then wait for shakeout/upthrust and no demand/supply for entry.

I would like to somehow combine this VSA methodology with supply and demand zones. I would imagine that signs of strength at an area of demand would be great confluence, and also I could use the SD zones as targets.

I am more available to check price during the evenings so I may focus on eur/jpy.

Here is a trade from just now.

Price broke below the POC and tested it with a no demand bar, and this is following selling earlier during the active trading hours.

Short at confluence when I saw the buying climax

i marked some supply levels shORTED it at 3448 no tp,ill exit on my own analysis
using 1k lot

Stop to BE, targeting above last week's close around 1.3400

I'm jealous, wish I could do the same.

How's trading dragan?

I had a chance to trade today.

The first trade went well, grabbed 20 pips. The first chart is a 5m EU showing my entry and exit on a long. My entry was at the high of that no supply.

The next chart is a 15m for the bigger picture and the confluence of demand, today's POC, and an unfair low.

My next trade, we've arrived at demand (5m EU). We see a buying climax, up thrust, no demand. Short at the bottom of the no demand, stop to break even at about 10 pips profit because price seemed to be stalling at yesterday's POC. I was stopped at break even on this one.

My third and final trade for 20 pips.

The first chart (5m) shows buyers, and a bullish reaction. I was long at the high of the test-like bar following the no supply.

The second chart shows my entry and exit at supply. (5m)

The third chart shows that I was entering off of a reaction to unfair lows, this is a 15m chart.

lol jealous ,i took ur advice to exit without looking at money and pips based on chart

im ok i shorted eurousd somehwere around where it is now,

theres lots of exhcnanging going on,but there lows go lower than the previous,the highs too ,but i always see it rising back up,dont know why,the probably are not out yet

Yeah jealous because I thought I didn't have the time but I'm finding it more and more these days as my new schedule sets in.

Just moved my stop to BE when price hit the POC of 1/19/11

ru still working 5 times a week?

i reckon u should study more,less forex,so u can finish ur school and get a job

Shorted on the mushroom,using 4k lot,with 25-17 sltp

My schedule just changed once again and it is much more balanced than it has been.

I only work 25 hours per week now. MWF 8am-1pm and 2pm-7pm on the weekends. Classes start at 4:10pm weekdays and sometimes run to 6pm sometimes to 9:30pm.

Next quarter I only need 2 classes then I'm done. I start training with a FA firm this summer.

Since I have Tuesdays and Thursdays off I can take some active trades. Also on the nights I'm done with class by 6pm I might get an Asain session trade in here and there. Also I may catch late afternoon trades after work during the week.

It's kindof frustrating to wait around for these 2 classes but they're only offered in the spring.

Still in the short, price is bouncing off of last week's high. My stop is at BE and I'm willing to hold it for however long even over the weekend who knows. I'll probably be stopped at BE though.

great news frankn,now u can focus on trading more
eurgbp isgnt going well ,it better go down,otherwise i lost lots of money