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  • #3,921
  • Edited 3:56am Feb 7, 2012 3:32am | Edited 3:56am
Hi X-man, the blue shaded box on my charts was just based on all the long wicks around that area which could be possible resistance. In the Journal thread, you can look up B.S. Trading with Kenneth Lee. He has a great PDF on the first post about supply and demand where he has presented Sam Seiden teachings in an easy to read and understand format. Here is a neat little indicator but not as good as drawing supply and demand levels yourself.
Attached File(s)
File Type: mq4 II_SupDem.mq4   29 KB | 708 downloads
Trading can't be taught but it can be learned
  • #3,922
  • Feb 7, 2012 3:36am Feb 7, 2012 3:36am
Quoting emmanuel7788
Hi Vnfx,

do you have your setup conditions clearly written down? are you convinced that all the conditions are met?
Emmanuel, Thanks for your great advises and your recent pdf which is a nice learning material. Would you mind to share with us your written setup conditions which would give us a good idea how it should look like ? Thanks.
"A goal without a plan is just a wish" - Antoine de Saint-Exupery
  • #3,923
  • Feb 7, 2012 3:36am Feb 7, 2012 3:36am
Quoting X-Man
I did notice other traders use the same analysis and they talk about demand and supply zones? I never really caught on but im interested in expanding my knowledge in this section.

I want to know how do traders identify demand and supply areas etc. does anyone knows? and can someone point me in the direction where i can learn more about it.
X=man, There is a number of threads on FF that teaches this concept. Once you get it, you can see what the big boys are do'in. for the last 2 days this rangeing market is between a tight range of supply and demand. Also check out Sam Seiden!!
Enter Signature
  • #3,924
  • Feb 7, 2012 3:47am Feb 7, 2012 3:47am
Quoting Pipsninja
I haven't entered a trade yet but am favoring a long since price is above yesterdays high and will watch to see how it closes but the blue box on top could provide resistance.
Hi Pipsninja,

If you want to trade the recent rally, possible target would be the fibo extension 127% and 138%. These are near to the blue PRZ you marked on your chart.
see attached chart.
with good Initial SL and position szie, you can get a good trade potential.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD 7 Feb rally TP.png Size: 36 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3,925
  • Feb 7, 2012 3:55am Feb 7, 2012 3:55am
Thanks for your reply emmanuel7788. I am still watching PA. Now price is above the high of yesterdays high with a nice looking bullish candle. I am favoring a long still and will wait for the close of this hourly candle to make a decision.
Trading can't be taught but it can be learned
  • #3,926
  • Feb 7, 2012 4:07am Feb 7, 2012 4:07am
Pipsninja,

Your supply/demand indicator is a pretty neat indicator.
I'll put it on my chart and watch it for awhile and get
a feel for it.

Thanks

snarlyjack
  • #3,927
  • Feb 7, 2012 4:12am Feb 7, 2012 4:12am
You are welcomed snarlyjack, I got that indicator from FF.
Trading can't be taught but it can be learned
  • #3,928
  • Feb 7, 2012 4:19am Feb 7, 2012 4:19am
Hello friends,

The NZ dollar looking extremely overbought on dailies.

Perhaps the NZ employment data due on Wednesday around 11 pm gmt could provide the trigger?

Should be worth watching.

Any comments friends?

DD
Attached Image (click to enlarge)
Click to Enlarge Name: nzd daily ready to rollover.gif Size: 29 KB
  • #3,929
  • Feb 7, 2012 4:36am Feb 7, 2012 4:36am
This is starting to get exceedingly frustrating. It seems like the EUR only wants to move 15-20 pips in one direction before reversing again, either making me cut my profits or take a big loss. Losing too much here, I think my winrate is around 30% even with what seems like perfect setups.
  • #3,930
  • Feb 7, 2012 4:39am Feb 7, 2012 4:39am
Quoting Forexsaurus
This is starting to get exceedingly frustrating. It seems like the EUR only wants to move 15-20 pips in one direction before reversing again, either making me cut my profits or take a big loss. Losing too much here, I think my winrate is around 30% even with what seems like perfect setups.
Saurus, mind sharing the perfect setups which occurred?
Thanks!
  • #3,931
  • Feb 7, 2012 4:39am Feb 7, 2012 4:39am
Thanks guys i really appreciate the info.
Im currently studying the pdf from B.S trading with kenneth lee.
what he teaches is from sam seiden.
Ive noticed that learning the demand supply can give to a better feel with pa and you will more or less know the tops and bottoms.
I will install a second monitor soon so i can look for these areas using normal candles and then will trade it with the S3 rules

If anyone else is interested then they can give the pdf a read.

studying the movements of PA will give you a better edge.
Attached File(s)
File Type: pdf BS Trading.pdf   5.0 MB | 1,705 downloads
X-man the legendary conqueror of markets
  • #3,932
  • Feb 7, 2012 4:46am Feb 7, 2012 4:46am
Please keep in mind that we have Gov Board member Jordan speaking now followed later on by Fed chairman Bernanke testifying this could be the reason on the small moves today. I am out and will be back tomorrow.
Trading can't be taught but it can be learned
  • #3,933
  • Feb 7, 2012 4:48am Feb 7, 2012 4:48am
Quoting Dr_Zulu
Saurus, mind sharing the perfect setups which occurred?
Thanks!
I went long at 1.3139 on the 9GMT candle, and then got a huge reversal forcing me to pull out for a measly 2 pips.
  • #3,934
  • Feb 7, 2012 5:04am Feb 7, 2012 5:04am
crossingdown on TDI??
Keep It Simple Stupid
  • #3,935
  • Feb 7, 2012 5:23am Feb 7, 2012 5:23am
Would love to hear if anyone else is making any profitable trades right now. No one ever seems to talk when the action is happening.
  • #3,936
  • Feb 7, 2012 5:27am Feb 7, 2012 5:27am
Quoting Forexsaurus
Would love to hear if anyone else is making any profitable trades right now. No one ever seems to talk when the action is happening.
That's pretty logical. When the action happens you have to keep your focus on trading, not the forum
  • #3,937
  • Feb 7, 2012 5:33am Feb 7, 2012 5:33am
Quoting Alastair
crossingdown on TDI??
Green (RSI) still above 50 and the yellow MBL on the 1hr chart. Even red (TSL) is above 50 and yellow.
  • #3,938
  • Feb 7, 2012 5:34am Feb 7, 2012 5:34am
Quoting Liberum
That's pretty logical. When the action happens you have to keep your focus on trading, not the forum
LOL thats true, one has to put all his focus on the charts by getting the right entry , setting a nice SL etc.

This is the thread where the rules are discussed to get an understanding of the system and learn from mistakes and not a live trade room.

Currently im holding short.
X-man the legendary conqueror of markets
  • #3,939
  • Feb 7, 2012 5:35am Feb 7, 2012 5:35am
Quoting Forexsaurus
I went long at 1.3139 on the 9GMT candle, and then got a huge reversal forcing me to pull out for a measly 2 pips.
I can't see this setup... Just a mere TDI crossing, but we need more than that to enter a trade.
Some expert on this?
  • #3,940
  • Feb 7, 2012 5:39am Feb 7, 2012 5:39am
Quoting littlebunny
I keep a second chart open with regular candles.
Like this idea, I am just learning this method but am so hooked on regualr PA I need to see the regualr candles as well. I planned on using 1 monitor for this system and another monitor with regualar candles and PA
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