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Supply and Demand trading with Fibs

  • #721
  • May 1, 2012 7:36am May 1, 2012 7:36am
Waiting for a PA to climb up to the Supply. It looks pretty promising
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  • #722
  • May 1, 2012 10:43am May 1, 2012 10:43am
Quoting phi1ipp
Hi Guyz,

wanna share my today's trade with you. TP was defined as two times risk which was still lower than min value after the supply zone had been formed.

Thank you Dean for nice thread and sharing your method!
Remember this post? I had a pink supply zone above with a pending limit order to sell at this zone. I decided later that it wasn't a proper zone. Not a super drop down, bla bla bla... and deleted the order! Just take a look what's happened later Now it's a m15 chart just to make it lil bit shorter to see!

In the night I was absolutely sure that it's a good S-zone with confluences of Fibo Retracements. Good lesson for me to be self asured and confident!

PS - A pink zone below the PA is a Demand zone where I went long with a TP at dashed line around 1.626x
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  • #723
  • May 1, 2012 6:17pm May 1, 2012 6:17pm
Quoting phi1ipp
Remember this post? I had a pink supply zone above with a pending limit order to sell at this zone. I decided later that it wasn't a proper zone. Not a super drop down, bla bla bla... and deleted the order! Just take a look what's happened later Now it's a m15 chart just to make it lil bit shorter to see!

In the night I was absolutely sure that it's a good S-zone with confluences of Fibo Retracements. Good lesson for me to be self asured and confident!

PS - A pink zone below the PA is a Demand zone where I went long with a TP at dashed line...
Wow thats a bummer u deleted the order, but its still nice to see what you predicted happen, the confidence is always good, but dont let it get to you too much to turn it to greed, keep a cool head and look for the next oppertunity by the looks of this post you have and have pulled off nicely good job
  • #724
  • May 1, 2012 6:59pm May 1, 2012 6:59pm
Quoting phi1ipp
Remember this post? I had a pink supply zone above with a pending limit order to sell at this zone. I decided later that it wasn't a proper zone. Not a super drop down, bla bla bla... and deleted the order! Just take a look what's happened later Now it's a m15 chart just to make it lil bit shorter to see!

In the night I was absolutely sure that it's a good S-zone with confluences of Fibo Retracements. Good lesson for me to be self asured and confident!

PS - A pink zone below the PA is a Demand zone where I went long with a TP at dashed...
Nice trade phi1ipp, i didn't get those two
Here's where i draw my levels http://screencast.com/t/YVCB3Ms8dv
And keep the confidence
  • #725
  • May 1, 2012 10:15pm May 1, 2012 10:15pm
Quoting alvin2434
Nice trade phi1ipp, i didn't get those two
Here's where i draw my levels http://screencast.com/t/YVCB3Ms8dv
And keep the confidence
That's how I would have drawn mine as well; the bottom of the supply zone would touch more candle open/close levels. Attached is the zoomed in screenshot.
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  • #726
  • May 2, 2012 12:50am May 2, 2012 12:50am
patiently waiting for this AUSUSD 15M setup, dont really trade the lower timeframes, but will give this one a go. Daily trend and 4 HR trend both showing bearish although keep in mind big news coming out the US later today.
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  • #727
  • May 2, 2012 5:55am May 2, 2012 5:55am
Hi guyz,

had a zero profit trade from yesterday because of an incorrect TP level. Now watching for a PA to reach my pending orders. Wanna share with you. Please comment

Regards
Philipp

PS The order above the PA is a m5 order.
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  • #728
  • May 2, 2012 6:30am May 2, 2012 6:30am
Just another example of the approach I've been using for a GJ.

Any comments welcome, gentlemen!
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  • #729
  • Edited 1:38pm May 2, 2012 9:29am | Edited 1:38pm
Waiting to short. There are 2 levels laying above the PA. Let's see how it goes.

Update: the pink one was stopped out but the upper one worked great!
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  • #730
  • May 2, 2012 10:44am May 2, 2012 10:44am
Here's a nice level on aussie, nice turn after small touch
I didn't watch it got hit, it was a limit order.
http://screencast.com/t/i7GI8q4D
  • #731
  • May 2, 2012 12:04pm May 2, 2012 12:04pm
Quoting alvin2434
Here's a nice level on aussie, nice turn after small touch
I didn't watch it got hit, it was a limit order.
http://screencast.com/t/i7GI8q4D
Great But I wouldn't have taken that as I usualy don't take such a levels. I prefer to look at huge rallies or drops.

BTW An interesting question I would ask Sam if I had a chance how does he treat levels that look like steep rally on H1 while on M15 they are 4 "white soldiers"
  • #732
  • May 2, 2012 8:45pm May 2, 2012 8:45pm
Quoting phi1ipp
Great But I wouldn't have taken that as I usualy don't take such a levels. I prefer to look at huge rallies or drops.

BTW An interesting question I would ask Sam if I had a chance how does he treat levels that look like steep rally on H1 while on M15 they are 4 "white soldiers"
The answer he would give, would be, if your trading the H1 and u see the zone, then trade from that chart, only ever move UP a timeframe to check for obvious zones that u could be trading against, try not to go down TFs if ur say trading on H1.
  • #733
  • May 2, 2012 10:23pm May 2, 2012 10:23pm
So , 1st trade on 15M, +30 pips, gona give this lower timeframe a go from now on.
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  • #734
  • May 3, 2012 10:04am May 3, 2012 10:04am
Another 2 trades taken on 15M

EURGBP +20 Pips
GBPCHF +15 Pips

Should have held on to them much longer but still testing the lower timeframes. I must admit, lots of potential on the 15M

So 3 trades today total 65 Pips
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  • #735
  • May 3, 2012 10:07am May 3, 2012 10:07am
Quoting only20gp
Another 2 trades taken on 15M

EURGBP +20 Pips
GBPCHF +15 Pips

Should have held on to them much longer but still testing the lower timeframes. I must admit, lots of potential on the 15M

So 3 trades today total 65 Pips
Very good, that first top picture you attached is absolutely perfect, price consolidated while the battle occured and broke upwards with "FORCE, price had been away for a while then was all of asudden attracted to that area like someone wanted it there so they could get filled when price got there no surprise it shot up, pictures like that make me proud.
  • #736
  • May 8, 2012 5:47pm May 8, 2012 5:47pm
very quite these days, guess everybody is making money
  • #737
  • May 9, 2012 1:05am May 9, 2012 1:05am
I had couple of losses as well and couple of near touches which were very frustrating. Price nearly came to my pending orders and then strongly retraced!

A lot of reading as well. Found an archive of articles by Sam Seiden and other authors on TradingAcademy.com

http://lessons.tradingacademy.com/ar...?ny=2011&nm=11

Still fighting with a TP level definition. Now it works for me as an opposite level. On 15 minutes charts it's about 30-40 pips, sometimes smaller.
  • #738
  • May 9, 2012 5:50am May 9, 2012 5:50am
so far only took one trade this week, that went well. its been a really slow week, not many S+D areas. For the higher timeframes even worst, nothing worth trading. Dont see this week getting any better as markets seem to be moving only in 1 direction mostly.
  • #739
  • May 9, 2012 7:52am May 9, 2012 7:52am
Quoting only20gp
so far only took one trade this week, that went well. its been a really slow week, not many S+D areas. For the higher timeframes even worst, nothing worth trading. Dont see this week getting any better as markets seem to be moving only in 1 direction mostly.
open your eyes more and you shall see the light, you telling me you have not spotted this?
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  • #740
  • Edited 9:14am May 9, 2012 8:55am | Edited 9:14am
Quoting deankenny21
open your eyes more and you shall see the light, you telling me you have not spotted this?
Yup, spotted that one last week, already have my order there waiting, still been a slow week, i have about 10+ potential zones but none have been hit yet, nothing on higher timeframes. on a normal week i would have already closed about 3-4 trades on the 4H.

Was bored today so took this scalp off the 15M AUD/CAD


EDIT: TP Already hit
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