Supply and Demand trading with Fibs

Isnt this just so fustrating, missing ur trigger by 1 or 2 pips

HAPPENS to the best of us, i had this demand zone on my radar for a while on the H4, all with a 50fib running through it too, was too perfect but missed my entry by 10 pips, which is not alot on H4 charts. Ah well plenty more round the corner.

potential setups

euraud

trade today

eurjpy

did any get this trade today, right off the 61.8 to the absolute pip, right at a picture pefect demand zone, consolidation and shoot up in price, perfectly played, still time to get entry, i can show you the ingreidients people, but you need to make the pie

granted this trade here is well under way already, but this is purely for educational purposes again, got a beautiful looking demand zone, consolidation and shoot up in price, showing buyers are the winners in this area, fib level lies dead on the mark, buying here knowing this information is very powerful stuff, like i said making the pie isnt hard when you get the right ingredients.

Yup, i'm watching that level too. Just got beaten 40 pips on the wick above that level at 1.0073 with sl at 1.0033. But that's just another loss, there's always another chance
Right now waiting for the limit buy at 0.9966 and 0.9919

2 nice levels for today GBP USD and AUDJPY
Closed them off way too early, not really sure why as price took off after closing them.

hey only20gp

I am fairly new but from what I have read the better setups are the ones where the consolidation lasted for a few candles. Is that correct?

Personaly for me, i have never really looked at it that way, for me its about

1> how price left the level, quicker, stronger = better
2> How far did it travel before it retraced back to the level
3> if going short, is there a demand level close by? if there is i stay away
if going long, is there a demand level close by? if there is i stay away

4> very very very important, overall direction of the trend. If im trading the 15M chart and price hits a damand level, I look at the direction of the 4H and Daily, if they are against my 15M setup I stay away. only trade with the trend, it almost doubles your chances of success.

But if trading the 4H, i dont really pay attention to that. but one thing i then do when tradng the 4H is drop down to the 15 M and look at how price really left the area. I trade this way and right now I can say im hitting about 90% win ratio

dont pick every level, pick the really good ones. "eliminate your risks"
But this is just my way. I keep it really simple.

Oh, lastly, since most people here trade spot forex (against the broker) my stops are usually higher than most other traders. as brokers normally know the avarage supply demand trader will put there stop just after the level, so alot of times price will go just over the level to take out stops and then reverse. but thats my style of trading and it works for me

Your doing well, well done, the consolidation thing is important, but if how your approaching it is working for you, then keep it up

5 min quickie

Dean,

Just discovered this thread. Must say looks very good. Looking forward to watching along and hopefully contributing.

we are now in or at this demand zone i posted last week, i have closed out my short and will look at this demand area closely as london opens dont say i didnt warn you, no cherry picking here, the chart im reffering to was posted last week in the post i have quoted above.

Coincidence? or the law of supply and demand? its not hard

So the area i marked last week has found buyers not only found buyers but right at the fib level too to the absolute pip, its a joy to watch, good analysis? or just coincidence? over time i can tell you, its good analysis but best part is what it was easy analysis took me less than 20 seconds to see that demand zone and put a fib on the chart.
Ok so if these demand buyers can now push it above parity then i will be watching like a hawk, this chart was posted for you guys last week in this thread, like i said no cherry picking here.

Hi Dean,

I'm watching this pair too. But to minimize risk I made a small investigation on H4 TF and defined D-zone lil bit lower. Have a pending order there so... Hope that bears will push a PA lower to trigger my order

yup, was on that one too, closed 30 pips profit and it retraced.

Daily view and 30M view.

decided to jump into this EURGBP 1H Trade, not really a good supply area, feeling alittle brave. lets see how it goes.

Closed is off for profits

EurGbp +20 pips
GbpChf +20 pips

those 2 zones were spot on well done, i dont even need to run a fib to see thats about 50 retrace on one of them, anyway well done.

Long EURUSD 1.2695 turned out to be a nice trade this morning.

In general EUR/USD has been moving very precise lately