Hello everyone!
Nice trade Phi1ipp! I had that one marked but was asleep when it hit. I am working on getting more comfortable with POs.
I did take this trade this morning. It looks like it might take me out. Can someone take a look at my levels and tell me if I went wrong or if it is just one of those trades that did not work out?
Hello everyone!
Nice trade Phi1ipp! I had that one marked but was asleep when it hit. I am working on getting more comfortable with POs.
I did take this trade this morning. It looks like it might take me out. Can someone take a look at my levels and tell me if I went wrong or if it is just one of those trades that did not work out?
Ignored
I'm now trying to keep myself away from CT trades. So, I won't take it for this reason.
Beside that there's no equilibrium zone at the level you've chosen. For me it isn't a proper S-zone.
Thanks Phi1ipp,
I understand we are all learning this together. You do seem to make good calls and it seems like I am more of a newbie than yourself. So I appreciate the input.
The main thing I was curious about is if it was a good zone or not. I have been taking a lot smaller positions as I am learning this method. Would you mine explaining why the zone was not very good? Here is my thinking. Maybe I am seeing more in it than I should.
I saw it as a drop-base-drop and price left the area pretty strongly (with a gap). Plus on the lower TF it had a nice base it formed with some structure. It also moved more than 3:1.
Please feel free to tell me where my flaws in thinking are. Any advice will be greatly appreciated.
As for me the zone doesn't have up and down bars which show that there was a battle between bears and bulls. It all happened late on Friday on thin market when all the market-maykers had finished their week. That's why I'm very sceptic that there could be a strong supply. That's proven by the thing that I don't see a rally out of the zone. Just a decline. After that there was a gap but that's because of a new trading week started.
Hello everyone!
Nice trade Phi1ipp! I had that one marked but was asleep when it hit. I am working on getting more comfortable with POs.
I did take this trade this morning. It looks like it might take me out. Can someone take a look at my levels and tell me if I went wrong or if it is just one of those trades that did not work out?
Ignored
The supply area you choose was quite good in my opinion, but take a look at that demand just below it. its too close to one another. hope this helps.
The supply area you choose was quite good in my opinion, but take a look at that demand just below it. its too close to one another. hope this helps.
Ignored
I saw that area and worried that I would not get much out of it. I was planning on taking a larger position out if it made it there. Thanks for the input. I will definitely keep that in mind for the future.
What is a safe distance away from areas like this? Or is it pretty much relative to your time frame? I know this is a hard question to answer.
-Sid
Only20gp,
I notice you use bollinger bands on your charts. I also noticed that it seems like the SDZs tend to land near the top and bottom bollinger band. Would you mind chatting about how to use the BB with S&D? It looks like it could probably help if I understood it better. Also do you use the stock settings for the BB or are they custom settings?
I saw that area and worried that I would not get much out of it. I was planning on taking a larger position out if it made it there. Thanks for the input. I will definitely keep that in mind for the future.
What is a safe distance away from areas like this? Or is it pretty much relative to your time frame? I know this is a hard question to answer.
-Sid
Ignored
depends on every trader, for me, at least 4 or more what i am risking.
meaning if i am risking 20 pips, there should be at least 60 pips of clear path for price to travel.
Only20gp,
I notice you use bollinger bands on your charts. I also noticed that it seems like the SDZs tend to land near the top and bottom bollinger band. Would you mind chatting about how to use the BB with S&D? It looks like it could probably help if I understood it better. Also do you use the stock settings for the BB or are they custom settings?
Thanks,
-Sid
Ignored
Mine is period 50 shift 2. i dont think its stock, think i got those settings from rocky`s thread. better chances if it hit your zone while its outside the BB.
|
Joined Sep 2011
|
Status: supply & demand all the way
|236 Posts
Hi Guys,
Thankyou for the feedback, if you look at second arrow there is a big war zone between the bulls and the bears (the big boys), only20gb its a very good observation i know its bit risky trade but its small size trade i have on the risk to reward ratio is good lets see how it pans out
