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Romancing the Price

  • #561
  • Edited 1:38pm Aug 7, 2011 1:33pm | Edited 1:38pm
Hey team, hope everyone has been enjoying their weekend.

Very busy recently but I will try to make it to a few New York sessions this week.

Here is what I see, this is EU daily.
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  • #562
  • Aug 7, 2011 2:08pm Aug 7, 2011 2:08pm
Daily
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  • #563
  • Aug 7, 2011 7:09pm Aug 7, 2011 7:09pm
Can you guys tel how you trade gaps . . Thanks
Trading is all about probability, low risk/high reward ,buy low/sell high
  • #564
  • Aug 7, 2011 10:08pm Aug 7, 2011 10:08pm
Quoting mangalesh
Can you guys tel how you trade gaps . . Thanks

For me...

If I am at my computer for it anyway (Sunday afternoon for me) I let the gap run into S/D and treat it like a normal position. But the gap itself will be a target. Usually the first target unless S/D zones were made before the Gap fills.

Hope this helps

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #565
  • Aug 8, 2011 2:17am Aug 8, 2011 2:17am
good day kenny please keep up the good work i have been really busy i well i am just trying to trade but i experience go slow when trading can any 1 kindly help me, i think Kenny say it has something to do with the number bars i have been looking for the post on that chat cant find it can some1 help me out please
  • #566
  • Edited 8:00am Aug 8, 2011 2:40am | Edited 8:00am
Euro at h4 , daily and weekly supply level showing a strong down trend . Then i took Euro at h1 level wich has clear PA ...Trade is running now ..Is it good setup ..? thanks . Am targetting first h1 target ..then run remaining for big targets..

Edit : closed 118 pips for 2/3 and running remaining for 4hr demand level ..
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Trading is all about probability, low risk/high reward ,buy low/sell high
  • #567
  • Aug 8, 2011 3:15am Aug 8, 2011 3:15am
Quoting mangalesh
Euro at h4 , daily and weekly supply level showing a strong down trend . Then i took Euro at h1 level wich has clear PA ...Trade is running now ..Is it good setup ..? thanks . Am targetting first h1 target ..then run remaining for big targets..
what kind of "clear PA" did you see at H1 timeframe? inverted hammer?
TRADING IS SIMPLE BUT NOT EAZY
  • #568
  • Aug 8, 2011 3:20am Aug 8, 2011 3:20am
engulf u can see


Quoting green_trader
what kind of "clear PA" did you see at H1 timeframe? inverted hammer?
Trading is all about probability, low risk/high reward ,buy low/sell high
  • #569
  • Aug 8, 2011 10:54am Aug 8, 2011 10:54am
M15 EU
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  • #570
  • Aug 8, 2011 2:24pm Aug 8, 2011 2:24pm
Quoting mangalesh
Can you guys tel how you trade gaps . . Thanks


There is a link on the first page of this thread you lazy fuck...

Quoting KennyZ

--------------------------

Emene produced an excellent Excel file containing a lot of links to some great articles on Supply and Demand PA from Sam Seiden and others. Great resource. You can find the file here:

http://www.forexfactory.com/showpost...ostcount=13708

-------------------------------------
Theres an article in there about gaps start there
  • #571
  • Aug 9, 2011 11:33am Aug 9, 2011 11:33am
Any of you guys use pivot points as an odds enhancer for S/D levels?

By that I mean the pivot points reside close to the S/D level.

I have heard it has been preached by the OTA instructors.
  • #572
  • Aug 9, 2011 11:48am Aug 9, 2011 11:48am
some of my gap trades from last sunday night/monday early hours..

one was particularly worrying at open.. i got pips drunk on last friday as i broke my own personal record.. i was trading all the way to the last dying minutes of the market.. unfortunately i miss timed closing eu short and left open without any stops (i rarely use hard stops when scalping)

when i heard S&P downgrade, i was bracing myself 200 or so pips loss.. but things worked out ok with some trade management at the end (see eu chart below).. i guess i was lucky at this occasion.. now i have a pc alarm set for fridays 7:30 GMT as cut off time..
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  • #573
  • Aug 9, 2011 12:02pm Aug 9, 2011 12:02pm
i use to use them but stopped sometimes ago.. in my case they were more of hinderence than helper.. they were interfering with my own judgement.. but that's me.. they may work for others..

Quoting paperchaser
Any of you guys use pivot points as an odds enhancer for S/D levels?

By that I mean the pivot points reside close to the S/D level.

I have heard it has been preached by the OTA instructors.
  • #574
  • Aug 9, 2011 12:16pm Aug 9, 2011 12:16pm
KennyZ,

I just want to say thank you. I started reading your material a few days ago and started using some of what I learned today.

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Out of those five, two went the opposite way but I'm just glad I'm up for the day.

I am still trying to grasp the supply/demand concept.

Is supply at the top because we are saying that people are trying to consume the supply?

Is demand at the bottom because we are saying that people are demanding more?

Just trying to make it fit in my brain.

Thanks again
  • #575
  • Aug 9, 2011 12:43pm Aug 9, 2011 12:43pm
You seems a really quick guy who can learn easily and got it . Cheers .

Yes supply is otherwise said to be resistance which can be called as a roof also and demand is otherwise called as support which is also called as floor .


Quoting vbmark
KennyZ,

I just want to say thank you. I started reading your material a few days ago and started using some of what I learned today.

Attachment

Out of those five, two went the opposite way but I'm just glad I'm up for the day.

I am still trying to grasp the supply/demand concept.

Is supply at the top because we are saying that people are trying to consume the supply?

Is demand at the bottom because we are saying that people are demanding more?

Just trying to make it fit in my brain.

Thanks again
Trading is all about probability, low risk/high reward ,buy low/sell high
  • #576
  • Aug 9, 2011 1:38pm Aug 9, 2011 1:38pm
couple of nice looking chart i manage to cap just before close..

you got to love nfp and fomc..
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  • #577
  • Aug 9, 2011 1:42pm Aug 9, 2011 1:42pm
I love drawing those zones. It really helps.

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It's like you're creating these channels that price runs through and it's like price gets bored if it stays in the channel too long. So you just wait and it's like the tension builds. Sometimes you get a false start so you loose a few pips but then you get one that just runs off like crazy.

When I get one that starts going positive I'll set my SL to 1 pip. Then when it gets further away I'll move my SL up to about 5 or 10 depending on how far away the price is. If it's really going then I'll set a moving SL to 15 pips. Why 15? Not sure, just seems right.

I'm trying to memorize all the patterns but it seems that when I get to the chart I find them difficult to recognize. So still working on that part.

This is making me want to go live soon.
  • #578
  • Aug 9, 2011 1:52pm Aug 9, 2011 1:52pm
935+ golden pips in total..

you got to love fomc...
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  • #579
  • Aug 9, 2011 2:06pm Aug 9, 2011 2:06pm
Quoting KennyZ
935+ golden pips in total..

you got to love fomc...
OK, you're my hero.

I'm figuring the reason this worked so well is because the previous big breakout and retracement consumed all the sellers giving a clean path to move to the next supply zone.
  • #580
  • Aug 9, 2011 7:12pm Aug 9, 2011 7:12pm
Hello ,

Am making good pips yesterday and day before yesterday . I would lik to know one thing . When price is also a weekly supply zone as well as price is a 4 hour zone of demand , what should i look for ? Short or long ? As to me it looks lik we can trade up and down since it looks lik it can range . Any ways eagerly waiting for your suggestion . .

Thanks
Trading is all about probability, low risk/high reward ,buy low/sell high
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