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Supply and Demand trading with Fibs

  • #941
  • Jun 22, 2012 4:05am Jun 22, 2012 4:05am
Quoting bodine
Do you trust charts for entry under H1 to minimize risk ?
Pretty much, yes.

Stopped out at +1 on my AU long trade...
  • #942
  • Jun 22, 2012 9:31am Jun 22, 2012 9:31am
I'm looking to try grab a few pips if this M15 level hits...
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  • #943
  • Jun 22, 2012 9:50am Jun 22, 2012 9:50am
Quoting simond2002
I'm looking to try grab a few pips if this M15 level hits...
I see! hope that works out for you.........never traded forex only futures
  • #944
  • Jun 22, 2012 10:02am Jun 22, 2012 10:02am
so you don't go lower than H1 to find your levels,but you find the best entrys on lower frame to minimize risk?
  • #945
  • Jun 22, 2012 10:51am Jun 22, 2012 10:51am
Quoting bodine
so you don't go lower than H1 to find your levels,but you find the best entrys on lower frame to minimize risk?
Basically yes. But I'm still trying to perfect my system.

Working from MN chart down to H1 chart for SD patterns and then drill down in the lower time frames for an entry with about 15 pips risk. I do this because the risk factor on a D1 can be 40 pips or more, which is just too much for me.

There definitely are times when I'd look to work solely in the M15 for example but only under very specific circumstances.

For instance, the previous AU M15 level forms a confluence with a 76.4 fib retrace if one draws a fib from yesterday's swing low at 1.0007 and today's high around 1.0058.

If I take this trade I'll limit my expectations because it comes off of a D1 pivot low. I'll also be looking for added confirmation on the entry by way of price piercing the lower Bollinger band. I'm no expert, however, just someone trying to fathom his way through the method
  • #946
  • Jun 26, 2012 5:13pm Jun 26, 2012 5:13pm
CAD/CHF
Attached Image (click to enlarge)
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  • #947
  • Jun 26, 2012 5:17pm Jun 26, 2012 5:17pm
GBP/CHF
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  • #948
  • Jun 26, 2012 9:11pm Jun 26, 2012 9:11pm
Hi Vitall,

It looks ok but in my opinion if you look to the left that point already have been visted previously and there is not enough price imblance, so you could take this trade but its a bit risky it could work out, check the below set up this what you should look for in your next set up, hope this helps

cash forex
cheers
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  • #949
  • Jun 26, 2012 9:15pm Jun 26, 2012 9:15pm
Hi Vitall,

Supply marking looks good, but the demand not enough away movement of price

cheers
cashforex
  • #950
  • Jun 27, 2012 2:49am Jun 27, 2012 2:49am
Quoting cashforex
Hi Vitall,

It looks ok but in my opinion if you look to the left that point already have been visted previously and there is not enough price imblance, so you could take this trade but its a bit risky it could work out, check the below set up this what you should look for in your next set up, hope this helps

cash forex
cheers
Thank you, Cash!
  • #951
  • Jun 27, 2012 3:07am Jun 27, 2012 3:07am
EUR/CAD H4
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  • #952
  • Jun 27, 2012 3:25am Jun 27, 2012 3:25am
Hi Vitall,

good spoting, try to look for 3:1 return on risk to reward, to get the odds in your favour, meaning in the above if you have look at your supply area your stoploss should be at 25pips and your take profit 40pips next time try to spot with 3:1 if your stop loss is set at 20 pips from the price, your profit target should be around 60 pips

regards
Cash forex
  • #953
  • Jul 2, 2012 6:52am Jul 2, 2012 6:52am
The market is crazy last days... Any fresh ideas, guys?
  • #954
  • Jul 2, 2012 7:10am Jul 2, 2012 7:10am
HI guys anyone here know where I can find this EA that the trailing will start from TP toward the current price what i mean is supposed I buy Eurusd 1.3200 My TP is 1.3250 and my trailing TP is 5 pips , lets say the price went against me it goes down to 1.3195 i want the EA
to move the TP 1.3250 to 1.3200 , when the price goes down again lets say 1.3190 I want the EA again to move the Tp 1.3200 to 1.3195

EA BUY EURUSD @

thisprice 1.3200 .-----> PRICE 1.3200 -----> TP 1.3250 SL1.3100 (SL remain the same)


this price 1.3200 ----->PRICE 1.3195 ----->TP 1.3200 SL1.3100 (SL remain the same)



this price 1.3200 -----> PRICE 1.3190 ----->TP 1.3195 SL1.3100 (SL remain the same)



Note : (TP change when price change)


i i hope you guys got my idea , thnx
  • #955
  • Jul 2, 2012 3:54pm Jul 2, 2012 3:54pm
Quoting fxpunk2011
HI guys anyone here know where I can find this EA that the trailing will start from TP toward the current price what i mean is supposed I buy Eurusd 1.3200 My TP is 1.3250 and my trailing TP is 5 pips , lets say the price went against me it goes down to 1.3195 i want the EA
to move the TP 1.3250 to 1.3200 , when the price goes down again lets say 1.3190 I want the EA again to move the Tp 1.3200 to 1.3195

EA BUY EURUSD @...
Never heard about EA like that... You can check www.mql4.com - they have a lot of scripts out there. Probably one of them is going to work for your strategy.

Regards.
  • #956
  • Jul 3, 2012 8:37am Jul 3, 2012 8:37am
Quoting vitall
The market is crazy last days... Any fresh ideas, guys?
Today short term M15 EU supply level is currently the only thing I'm watching but with H1 pivots to the left I'm definitely going to take care if an entry setup forms, and look to be aggressive on T/P.

EA is hitting an interesting D1 Pivot Zone - MN timeframe looks ever more interesting (levels inside levels) though I'll probably er on the side of caution and wait for at least some H1 levels to form inside...
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  • #957
  • Jul 3, 2012 9:00am Jul 3, 2012 9:00am
Simond,

That supply level is a reaction to previous supply. I would thread carefully here. We are coming from a 1st time touch at a demand level dating back to 29th June and could send us back up for a while...

I would look to 1.2620/30 area for PA to think about a short. Even there could be early as its not my preferred type of supply level... Might be worth a scalp!
  • #958
  • Jul 3, 2012 9:18am Jul 3, 2012 9:18am
Quoting Rsherl01
Simond,

That supply level is a reaction to previous supply. I would thread carefully here. We are coming from a 1st time touch at a demand level dating back to 29th June and could send us back up for a while...

I would look to 1.2620/30 area for PA to think about a short. Even there could be early as its not my preferred type of supply level... Might be worth a scalp!
Cheers for the "heads up" Rsher101. I'm currently at breakeven having seen +7 on the trade. I definitely agree with your points - my rational for taking the trade (with my "scalper's head" on ) was the R:R of the resultant move off of the level you referenced - it was 1:4, am therefore looking for 1:3.

Risk free now so we'll see...
  • #959
  • Jul 3, 2012 9:43am Jul 3, 2012 9:43am
That is a beautiful piece of demand from Friday. Hopefully have enough buyers to get me to my initial target. Longer term i dont know how the Euro is going to stay at these levels. Really shows the power of supply and demand how we are not sub 1.20 at present..

Attached Image (click to enlarge)
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  • #960
  • Jul 3, 2012 9:45am Jul 3, 2012 9:45am
Seem to B/E a lot on that 5min,read were Dean moves stop when he's up 5 to 7 to B/E i move mine when i get to 7 doesn't seem like a lot of room to breathe
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