Trading is all about probability, low risk/high reward ,buy low/sell high
- | Membership Revoked | Joined Mar 2010 | 3,853 Posts
All systems of divination, like music itself,work through patterns.
Close Price VS Median Price (or other price types) 33 replies
House price data price action 1 reply
Why closing price is not the same as opening price? 1 reply
DislikedWe have just bounced down from higher time frame supply. Look at the Daily. You need to be lower on the higher time frame curve imo for a higher probability trade. But you might get lucky. But i'd rather be looking for shorts only (obviously not at that level).Ignored
DislikedHello! Im new to this method so have patience with me. I skimmed through reds thread but i found it overwhelming....
Like i said in the beginning i still have a lot of questions, i will be thinking how to formulate them. Would be great if more people would make videos about this starting with the basics.Ignored
DislikedHow many pairs are you guys watching? I've gone from 1 pair, to 30 and everything in between lol!
I have it narrowed down to 11 pairs (EU, GU, AU, NU, UC, UJ, GJ, EJ, AJ, UCF,ECF)
and also Oil, S&P, Gold and Silver
....so 15 altogether.Ignored
DislikedI focus mainly on EU as it is the most traded and liquid of all FX instruments, but that does not mean I do not watch/trade other pairs and commodities. One professional trader I know only trades EU and makes a fantastic living from it. He knows this pair better than his wife... lol
He stated that it is better to focus on one instrument and get to know it inside out, especially when day-trading. When swing trading of the higher timeframes such as the daily or weekly timeframes, obviously you don't get many trades and hence people tend to trade...Ignored
DislikedThanks for you input bbakker.
I would like to focus on just one pair, but often get the nagging feeling I am missing all the action on other pairs. Is one pair enough for trading 1h levels? I assume you often have days with no trades at all?
hmmm...maybe I could whittle it down a bit more lol
It would be great to hear how many others are trading too, I know Verb trades all of them!Ignored
DislikedThanks for you input bbakker.
I would like to focus on just one pair, but often get the nagging feeling I am missing all the action on other pairs. Is one pair enough for trading 1h levels? I assume you often have days with no trades at all?Ignored
DislikedYou know that feeling when you're really really drunk and two of your fuck buddies happen to be in a club, but you ignore them because you were busy eyeballing that gorgeous jailbait with the catholic school girl skirt who once you wake up wasnt that impressive in bed even though she claimed to have elite blowjob skills? Then you (either throw her out of your appartment or take a cab home) and think to yourself... man if i wasnt so focused on her i could have gangbanged both of my fuckbuddies if i play my cards right...
In reality though you were...Ignored
DislikedHere is what I see: The price dropped another time after a double top bear flag but the last leg showed messy and low momentum. Then accumulation build a base and buyers came in. Price left the zone with good mometum. When the price reached the supply zone the third time there appeared 2 pins but they weren't strong enough to drop the price. This is a hint that supply was consumed. The next strong hint was given when the little bearish candle after the 2 pins was engulfed by a bullish candle. An engulfing candle into a supply zone means strength....Ignored
Dislikedslightly different approach but nice analysis MCFly.. thank you..
main point was [for me and Red anyway] price went in demand with compression.. that's usually very good indication of the turning point coming soon..
here are some messy scalp trades i did on that chart.. on the move to north i have closed and re-bought few times.. that's scalper for you..
i like to thank you all and everyone of you for taking time to share your view.. we learn together..............Ignored
Dislikedthanks Orbital, that was a big help and nice analogy at the start hehe.
Can you tell me, do you approach m5 by trading m5 supply and demand levels? Or do you wait for price to hit h1 levels, then trade within these using m5? I would love to know how you go about this.Ignored
DislikedOK if you are trading m5, what do you do when price is inside an H1 level? Wait for price to react and build an m5 level then trade that?Ignored
DislikedEU is now reacting off H1 level, so waiting for something on m5......
EDIT: OK that didn't happen, price has gone nearly 100 pips without giving a m5 demand level to trade off. I think I should have entered on the m15 bullish engulfing....thoughts anyone?Ignored
DislikedIf you missed the boat, then wait for a good supply level to go short. If you are a scalper or day trader, you have to change your bias at the drop of a hat based on price action.
The m15 bullish engulfing was a great signal to go long, but which timeframe are you trading from? I thought it was m5? Now you are bringing m15 into the picture. Triggers to enter should be based on your chosen timeframe. Keep it simple.Ignored