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Price is everything

  • #27,061
  • Feb 21, 2012 8:04pm Feb 21, 2012 8:04pm
Quoting Dropped Onion
long usdcad based on supply consumption. notes on chart. time + price = $$ ?
usdcad - partial close here.

based on laws of supply and demand. long at lack of supply. buyers in control.
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  • #27,062
  • Feb 22, 2012 12:02am Feb 22, 2012 12:02am
Quoting Dropped Onion
there was a great level on cable to short earlier today. Reasons for shorting:
Thanks DO, one for the scrap book.
Good Trading
  • #27,063
  • Feb 22, 2012 12:47am Feb 22, 2012 12:47am
short cad
l love clean charts
entry reason dont know exactly but sometime tls /diagonal lines offer good opprtnty
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Simplicity Is The Ultimate Sophistication ~LDV~
  • #27,064
  • Feb 22, 2012 2:42am Feb 22, 2012 2:42am
Quoting Dropped Onion
selling into supply. works (almost) every time. also some opps to buy demand on your chart.
Absolutely! Here again and showing the fractal nature of the market.
Good day to all

Albergo
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  • #27,065
  • Feb 22, 2012 3:10am Feb 22, 2012 3:10am
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  • #27,066
  • Feb 22, 2012 5:18am Feb 22, 2012 5:18am
This is how we do it

Quoting Orbital
Attachment

Attachment
Hello.
  • #27,067
  • Feb 22, 2012 6:02am Feb 22, 2012 6:02am
Nice Supply last July
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  • #27,068
  • Edited 7:11am Feb 22, 2012 6:26am | Edited 7:11am
Quoting Ifmyante
Nice Supply last July
Thats what she said!
also this:
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EDIT:
Also EU:
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  • #27,069
  • Feb 22, 2012 6:45am Feb 22, 2012 6:45am
Long gu several targets

edit: out at BE
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  • #27,070
  • Feb 22, 2012 7:16am Feb 22, 2012 7:16am
Just noticed GBPUSD coming into excellent demand area (see how price left it) and arrival is top notch too. I bought @1.5676! Apologies for not posting a chart.
  • #27,071
  • Edited 8:39am Feb 22, 2012 7:51am | Edited 8:39am
took half.... nice h4 supply level

edit: stopped be remaining
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  • #27,072
  • Feb 22, 2012 7:56am Feb 22, 2012 7:56am
Quoting bbakker
Just noticed GBPUSD coming into excellent demand area (see how price left it) and arrival is top notch too. I bought @1.5676! Apologies for not posting a chart.
I was tad early but still in the trade... would be nice if m15 could close with a bullish engulfing.

EDIT: Surprise, surprise... it closed with a bullish engulfing. Some wait for confirmation, others just trust the zone
  • #27,073
  • Feb 22, 2012 8:21am Feb 22, 2012 8:21am
Hello, guys! Thanks for great thread! I'm new to this type of trading supply/demand zones. How do you determine that some zone is consumed or not?
  • #27,074
  • Feb 22, 2012 8:30am Feb 22, 2012 8:30am
Quoting bbakker
I was tad early but still in the trade... would be nice if m15 could close with a bullish engulfing.

EDIT: Surprise, surprise... it closed with a bullish engulfing. Some wait for confirmation, others just trust the zone
Sellers are not giving up on this one...
  • #27,075
  • Feb 22, 2012 8:34am Feb 22, 2012 8:34am
Quoting bbakker
Sellers are not giving up on this one...
Nothing wrong with the entry, it's the fundies, Pound been under heavy pressure since the MPC minutes.
  • #27,076
  • Edited 8:58am Feb 22, 2012 8:38am | Edited 8:58am
HI bb!!

i was wonderind if i can ask u a few Q'S regarding ur gbp long set up you mentioned above.
i have attached a chart and i marked the demand level you were refering to.as yyou can see this level has multpile touches and its not really fresh.
in addition we made H and LH so i was actually thinking this demand might be broken.
i did wait for pa in the zone in order to go long bc of the reasons i mentioned but i didnt get one so im still on the side line.
since i learn alot fron your posts i would just want to figure out what did you see that made you trust this zone without waiting for price confirmation.
you are an excellent trader and im in no mean trying to challenge your call i honestly just trying to learn.
hope i wasnt asking for too much.
have a great one!!!

edit:im sorry i just realized i shouldn't ask Q'S here but at PIE CHAT ROOM thread...my apology!!
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  • #27,077
  • Feb 22, 2012 8:55am Feb 22, 2012 8:55am
chart
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  • #27,078
  • Edited 9:10am Feb 22, 2012 9:00am | Edited 9:10am
Quoting elliotrader
HI bb!!

i was wonderind if i can ask u a few Q'S regarding ur gbp long set up you mentioned above.
i have attached a chart and i marked the demand level you were refering to.as yyou can see this level has multpile touches and its not really fresh.
in addition we made H and LH so i was actually thinking this demand might be broken.
i did wait for pa in the zone in order to go long bc of the reasons i mentioned but i didnt get one so im still on the side line.
since i learn alot fron your posts i would just want to figure out what did you see that...
Bring up the daily chart and you will see that bullish engulfing that price is testing... my SL is @ 1.5635 and I added to my long @ 1.5655.

If price doesn't bounce here, I will eat my shorts

P.S. Cable can be a wicky bitch that likes to trap!

On another note, on the weekly chart, GU printed a bullish engulfing at the start of the year. You will also find that new trends develop at the beginning of each year as a lot of books were closed before year end and open again at the beginning of each year around early/mid January. I think 1.5650 will be protected for now by the bulls... let's see what happens.
  • #27,079
  • Feb 22, 2012 9:09am Feb 22, 2012 9:09am
i hope you will get your bounce.
thank you for your reply.
  • #27,080
  • Feb 22, 2012 9:10am Feb 22, 2012 9:10am
Closing lower 2 dax adds, leaving top one running and SL @ BE +1 for the middle one.

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EDIT:

@Elliottrader.. its neither consumption of supply nor demand, its a pendant/triangle pattern nothing more nothing less.
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