Romancing the Price

Hi doubletop,

Links seems active.. just downloaded from Megaupload without any problem..

i'm guessing that download issue may be originated at your end or free download host/s were busy when you were trying to download..

have good ones...

Much appreciate your reply.

Tried last night and again download stops at 5.4 mb.

As you say must just be busy, I will keep trying.

keep up the work on your excellent thread!

DT.

Hi Myrza,

I would like to ask, do you marked the body of candle which have fractal sign on above/below it ? or you marked from high to low of that candle as your zone ?

since sometimes I see you marked the body of the candle only or you marked the previous candle which appear fractal.

can you please advise which candle you mark as a zone from the fractal candle ?


Thanks,

I've been asked to share the indi I use to show pair and tf.

It's a mix of two that I juxtaposed

Enjoy

Let me iterate here that you should master the higher tfs before trying the lower - this, I feel, is vital

It's Sunday now, at the end of the month, a great time to draw up weekly and monthly supply and demand zones.

I invite you all to post as many pairs as you wish. Predictions are most welcome too.

We can discuss them as we go



If

This one I am paying attention to:

Nice one

Thanks for bringing attention to this. I haven't seen this pair in a long time

Let's leave the theory of the supply and demand to academicians and only concentrate on daily, real life usage.. something that we can easily relate to.

We all like to pay the lowest possible amount when buying something and sell it at the highest possible price. If you had the opportunity to buy your new super dooper monitor from a wholesaler for $200, would you go and buy the same monitor from a retail shop for $250? This example may not be applicable in real life as most wholesalers will not sell it directly to the end user. However, financial markets gives us access to wholesale prices over and over again.. What the heck, markets even gives access to factory prices to those who can read the prices and are patient enough to wait for the opportunity. Same thing applies when we are selling. Think about it. When you want to offload excess stuff you have been collecting over the years, where do you think you are going to get the best return... In a small car boot sale or a large market with plenty of buyers?

This bring us to the understanding of, not all supply and demand zones are created equally.. There are are wholesalers selling with 20% discount and there are other wholesalers giving 35% discount. There are small local retail shops and there are superstores. It's up to us to locate the best wholesale and retail prices on charts.

Locating supply and demand zones fairly easy thing to do. Defining these zones may differ from trader to trader. As you can see from the chart below, I use lines rather than rectangles and wicks, they important for me. I draw the thicker line on wicks and thinner lines on candle bodies. Thicker lines represent the outer borders and thinner lines inner borders of supply and demand zones. However, the way I define supply and demand zones may be not correct according to other traders but they serve me fine.. what others thinks or advice is irrelavent in this case. Keep in mind, in trading there are no rules on the stone, just guidelines and these guidelines are relative to dynamics of market and instruments traded. Nothing stays the same.. Everything constantly evolves for change. Quantitative changes eventually trigers qualitative changes into being. That is when we feel the force of the change and start to affect our daily life. In trading we need to observe quantitative changes closely in order to reap benefits of forthcoming qualitative change once it happens.

Defining supply and demand zones are not enough for me. Are we going to take the trade as soon as price hits the target? I'd say not. Supply and demand zones are not steel walls, they can easily be penetrated. We need price to tell us where it's likely to be heading from the zone? How do we do this? Some traders use various point based qualifiers. In my case, I use candlestick and chart patterns to give me some idea about what it wants to do. Each candle itself represents the behavior of the market participants. The size of the body, wicks and the way they form (candlestick patterns). Additionally I use trendlines and price channels.

I'd strongly recommend to learn some basic candlestick and chart patterns after understanding supply and demand zones. Try to apply the patterns when price is in supply and demand zones in order to enter higher probability trades. Going into patterns is beyond the scope of this post. You can simply search for "reversal candlestick patterns" and "continuation candlestick patterns" on the Web. There are plenty of resources to learn as long as you are willing to put time and effort into learning.

I love ranging markets (when the range is not smaller than 15 pips) and a price action that stays within a channel. These are the easiest pip collecting conditions for me. See the chart below. I draw orange rectangles for trades I'd take.

I'm mainly a scalper. I use 5 and 15 minutes charts for entries and exits. However I still keep and eye on larger time frames charts. If you are new to supply and demand PA trading it's best to start with larger timeframes such as 4 hours and work your way down or up depending on your trading style.

If you are serious about learning supply and demand PA trading, forget about all those flashing indicators other than informational ones such as price info, ATR, candle and perhaps a couple of MAs. They will not help, on the contrary, they will pollute your judgment.

How ever a good trader you may think you are, without prudent money management and well defined risk profile that fits within your resources and psychology you'll most likely fail.

Lastly, I don't believe others can teach you to be a good trader. I don't believe in coaches, gurus and the like. You have to do it yourself by way of study and practice - practice is 90% of the whole process.

Have many good ones....

damn.. i want to trade like this guy does his ninja stuff

could this guy be a great trader.. adapting all pa flawless...

Excellent Kenny.

Channels, levels, PA. The levels and PA are almost clinical. The addition of channels at first seems almost too discretionary but with practice they make this trading surgical. (I like volume too but that's also beyond the scope of this thread)

Absolutely true

There is no substitute for chart-time.

Your piano teacher can only teach you how to learn to play piano. It will never become instinctive without hundreds of hours at the keyboard

http://www.forexfactory.com/showthre...28#post4654428

Hi Kenny,

Did you buy EU @1.4328 because previous high was 1.4330 which is supposed to turn from R to S?

thanks

Homer

hi Homer,

i simply bought the bull flag from M15 chart.. plus in my favor there was a 4324 line which was supply before, turned into demand and not to forget the momentum it went to north with..

have good ones........

Thanks a lot Ken!

hi traders


hey guys,l'm not a senior here but l like a read here and hearng that newbies accounts are being blown .... it's just silly and should not happen!! Please treat this like a business people if your learning then demo, test, demo, test , screen time then with micro account. I treated my begining like an apprenticeship. structure yourself, learn all you can 12 hr per day if you have to... if your really serious then this will be your life long job. Trade live for emotions & using only .5 per trade or something but real low for starters.. Get yourself to b/e when it's safe to do so .... do this for you account to last a lot longer!! REMEMBER BIGGER PICTURE SUPPORT AND DEMAND LEVELS, when taking trades in higher t/f's. (just adding to Kenny z post.)
Cheers joel.

ps. l rewatch sam's videos everyweek!!! programming them into your head too. the best pieces or towards the end for his videos






..

Ken asked me to post this in here:



Chart is simple and self explanatory and shows once again why if youre a beginner there is no point for you to chase after the large waves (because im assuming they dont understand how), and simply take the low risk rebounds lateron.

For questions feel free to ask

a coder friend was kind enough to modify OverLayChart indicator for me... i'm sharing it here.. it may have some use to those who monitors pairs price correlations..

changes:
1. instead of candles, it uses line chart so that each pair can be viewed bit more clearly.
2. it can display 4 pairs per indicator as oppose to 1 in original version.
3. added labels and prices for each pair.

my humble view is that this indicator most suited to bit advance traders, who has some understanding about pairs inter-connected correlation. If you want to know about fx pairs correlation then please do a web search to learn more...

have many good ones........

ken