Pivots + RSX + Stochastic on M15 & M30 - Intraday rangebound | Page 78 | Forex Factory

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Attachments: Pivots + RSX + Stochastic on M15 & M30 - Intraday rangebound
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Pivots + RSX + Stochastic on M15 & M30 - Intraday rangebound

  • #1,541
  • Oct 2, 2011 4:21am Oct 2, 2011 4:21am
Quoting profitoffx
Attachment
GBPCAD is another pair I'm observing closely at the moment. As soon as there will be a clear sign of reversal on the H4 this could be an interesting opportunity...Any comments?

Have a nice day everyone!
absolutely nice spot for shorts, anyway this last 950 pip upmove was pretty fast and solid.... if it breaks the roof i will buy a retest for previos supply level.

all in all area should be good for some shorts trying to move sl to be asap.

lets wait for the open

Attached Image (click to enlarge)
Click to Enlarge Name: gbpcad.jpg Size: 136 KB
Hero calls followed by margin calls...
  • #1,542
  • Oct 2, 2011 11:17am Oct 2, 2011 11:17am
Quoting PhAnTi'
absolutely nice spot for shorts, anyway this last 950 pip upmove was pretty fast and solid.... if it breaks the roof i will buy a retest for previos supply level.

all in all area should be good for some shorts trying to move sl to be asap.

lets wait for the open

Attachment
Hey Phanti your supply area is not well drawn upon your chart, it should look like this
Attached Image (click to enlarge)
Click to Enlarge Name: 14.jpg Size: 182 KB

  • #1,543
  • Oct 2, 2011 12:46pm Oct 2, 2011 12:46pm
Quoting Dorobantu
Hey Phanti your supply area is not well drawn upon your chart, it should look like this
Attachment
lol
Hero calls followed by margin calls...
  • #1,544
  • Oct 2, 2011 1:01pm Oct 2, 2011 1:01pm
Sam Seiden's supply and demand levels look very differently from our's and they have a much higher rate of success based on his deductive reasoning. If a level has been tested already it should not be taken in consideration a second time.
  • #1,545
  • Oct 2, 2011 1:18pm Oct 2, 2011 1:18pm
Quoting Dorobantu
Hey Phanti your supply area is not well drawn upon your chart, it should look like this
Attachment
Im short GBP/CAD too, looking for 1.6. good set-up, couldnt really be better
  • #1,546
  • Oct 2, 2011 1:20pm Oct 2, 2011 1:20pm
Quoting Dorobantu
Sam Seiden's supply and demand levels look very differently from our's and they have a much higher rate of success based on his deductive reasoning. If a level has been tested already it should not be taken in consideration a second time.
Quote
Sam Seiden's supply and demand levels look very differently from our's

This thread isnt about Sam Seiden.
This thread is about my way of trading .... and it works.

Quote
If a level has been tested already it should not be taken in consideration a second time.

Bullshit.
Hero calls followed by margin calls...
  • #1,547
  • Oct 2, 2011 1:20pm Oct 2, 2011 1:20pm
Quoting JeremyWS
Im short GBP/CAD too, looking for 1.6. good set-up, couldnt really be better


same line. ill buy retest if it breaks.
Hero calls followed by margin calls...
  • #1,548
  • Oct 2, 2011 1:21pm Oct 2, 2011 1:21pm
I am really sorry that I've taken that trade before looking at the monthly chart, we have a very obviousy supply level that has been tested and if we would have taken that one we would have gotten 1000 pips off from it. Now that monthly supply level is already tested and september's monthly bar closed inside the supply area. I dont know what to say but according to what Sam said, never take a level that has already been tested and always look to protect your trade on higher timeframe levels for supply and demand. I've failed to do those last 2 very important things and Ill loose alot of money on that mistake
  • #1,549
  • Oct 2, 2011 1:23pm Oct 2, 2011 1:23pm
Quoting PhAnTi'
This thread isnt about Sam Seiden.
This thread is about my way of trading .... and it works.



Bullshit.
You basically guided us all into learning supply and demand strategy from sam seiden and now you say he is bullshit?
  • #1,550
  • Oct 2, 2011 1:30pm Oct 2, 2011 1:30pm
Quoting Dorobantu
You basically guided us all into learning supply and demand strategy from sam seiden and now you say he is bullshit?
i dont say hes bullshit. do i ?
Hero calls followed by margin calls...
  • #1,551
  • Oct 2, 2011 1:30pm Oct 2, 2011 1:30pm
Quoting Dorobantu
I am really sorry that I've taken that trade before looking at the monthly chart, we have a very obviousy supply level that has been tested and if we would have taken that one we would have gotten 1000 pips off from it. Now that monthly supply level is already tested and september's monthly bar closed inside the supply area. I dont know what to say but according to what Sam said, never take a level that has already been tested and always look to protect your trade on higher timeframe levels for supply and demand. I've failed to do those last 2 very...
you are leaving the track
Hero calls followed by margin calls...
  • #1,552
  • Oct 2, 2011 1:34pm Oct 2, 2011 1:34pm
Quoting Dorobantu
You basically guided us all into learning supply and demand strategy from sam seiden and now you say he is bullshit?
btw :


Attached Image (click to enlarge)
Click to Enlarge Name: eurcad.jpg Size: 140 KB
Hero calls followed by margin calls...
  • #1,553
  • Oct 2, 2011 1:49pm Oct 2, 2011 1:49pm
Quoting PhAnTi'
btw :


Attachment
The first three tests are monthly bars in the process of creating a supply level, #4 test is the only valid one because it respects higher TF supply level and it is the first one that has ever touched it..

the big picture i'm reffering to:
Attached Image (click to enlarge)
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#4- the only valid one
Attached Image (click to enlarge)
Click to Enlarge Name: your number 4.jpg Size: 194 KB


#5- the really risky one
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Click to Enlarge Name: your possible but less probable numer 5.jpg Size: 193 KB
  • #1,554
  • Oct 2, 2011 1:57pm Oct 2, 2011 1:57pm
Quoting Dorobantu
#5- the really risky one
Attachment
While I can see the logic behind it (#4 being the first test/touch ) I'm still wondering what makes you think 5 is a reall risky one. Previous test, (from#4) deffinetly show that there is a clear strength rejection from that supply area / no signs of supply draining out from that level.

A fast approach of #5 only makes me think it will departure fast from that level as well, with a bunch of long traders trapped.

I would consider it risky when price is consolidating some more around that supply area first. But that's my way of working here..
  • #1,555
  • Oct 2, 2011 2:05pm Oct 2, 2011 2:05pm
Quoting Robertk
While I can see the logic behind it (#4 being the first test/touch ) I'm still wondering what makes you think 5 is a reall risky one. Previous test, (from#4) deffinetly show that there is a clear strength rejection from that supply area / no signs of supply draining out from that level.

A fast approach of #5 only makes me think it will departure fast from that level as well, with a bunch of long traders trapped.

I would consider it risky when price is consolidating some more around that supply area first. But that's my way of working here..
You are right about it. It bounced right off and you could say wow this is really strong, I should take it!
We cannot rely on variable trading conditions such as deductive reasoning and creativity inside a chart because there is no such thing. When you find something that follows a alghoritmic pattern and it gives out good signals you wouldn't want to twist that strategy up and down and say this signal is completely reliable because it looks so.

According to simple logic we would say that the level has been already tested out (willing sellers sold the pair at that level and they've done their selling, they've got nothing else to sell).
  • #1,556
  • Oct 2, 2011 2:11pm Oct 2, 2011 2:11pm
Don't get me wrong guys, I'm really on your side of the trade and I will loose a lot of money if I am right.
  • #1,557
  • Oct 2, 2011 3:55pm Oct 2, 2011 3:55pm
Attached Image (click to enlarge)
Click to Enlarge Name: cad index daily sad.jpg Size: 209 KB

Attached Image (click to enlarge)
Click to Enlarge Name: gbp index daily sadder.jpg Size: 211 KB
  • #1,558
  • Oct 2, 2011 4:01pm Oct 2, 2011 4:01pm
At least we got the weekend gap on our side
  • #1,559
  • Oct 2, 2011 4:07pm Oct 2, 2011 4:07pm
cad gap opened above demand level and gbp opened below supply level, looking decent right now
  • #1,560
  • Oct 3, 2011 2:10am Oct 3, 2011 2:10am
Quoting PhAnTi'
imho there are 3 solid ones

1. Dojis forming at supply/demand areas,
2. Engulfments
3. bearish and bullish outside engulfing bars
Thanks for the answer! I had little time to read this weeken. I'm at page 40 now and will continuing reading in the evenings...until now it's really interesting to see how the system developed. I already learnt a lot.

Me too I just took the GBPCAD trade now. 4h chart looks pretty good in my opinion.

SL: 1,6420; TP1:1,5935; TP2:1,5800; TP3: 1,5600 - what a r:r ratio!

Nevertheless I'll move SL to BE as soon as possible as I still see a resistence at 1,62400...
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