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''Trading Price II'' by PhAnti - have fun

  • #81
  • Aug 29, 2012 6:50am Aug 29, 2012 6:50am
Quoting ludo willems
Here is an indicator I use to plot S/D levels. Enjoy!
Ludo
no indicator can replace human intuition and experience.

If we aren't able to spot and mark supply and demand areas ourselves we shouldn't trade hence we simply didn't understand why price turns where it turns and moves how it moves.

Thats my opinion, whoever disagrees should use S&D indicators.

Nothing offensive, but i highly advise against using S&D indicators.

Good luck !

regards,
Jonas
Hero calls followed by margin calls...
  • #82
  • Aug 29, 2012 6:53am Aug 29, 2012 6:53am
Hey Jonas,

Thanks for the ebook. Looks great and still reading. I read your first ebook and trust this will be equally great.

Thanks again for sharing.

George
Low Risk Low Stress High Reward High Probability Trades
  • #83
  • Aug 29, 2012 7:52am Aug 29, 2012 7:52am
Quoting PhAnTi'
Have fun...
It would be more fun if you could upload the stuff into a proper place, like a public dropbox folder, where I can just download it without having to visit some shady "1-click" hoster, where I am plagued by their "need javascript"-bla bla bla. Need I f*ck up my system?
  • #84
  • Aug 29, 2012 8:13am Aug 29, 2012 8:13am
Hi Jonas. Grüß Gott. Confused from Spain, back again.

I am really struggling to define the zones and I can not work out from your examples the "criteria" if there is one, for defining the zones.

Also, I have attached 2 charts of the GBP Daily & 1 Hr. There is a clear, what I call Power Level, because there have been very defined bounces from this level 11 just in this 1 picture (daily) and yet it does not coincide with any of the zones, do we therefore ignore it and only concentrate on the S & D zones.

On the 1 hr chart price has just come up to the Supply zone, do you take the entry off the touch of the zone or because it is a pin bar, from the bottom of the pin bar??
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBP Daily.png Size: 23 KB
Click to Enlarge Name: GBP 1hr.png Size: 31 KB
Cut your Losers short and let your Winners run.
  • #85
  • Aug 29, 2012 8:31am Aug 29, 2012 8:31am
Quoting m.m.m.
It would be more fun if you could upload the stuff into a proper place, like a public dropbox folder, where I can just download it without having to visit some shady "1-click" hoster, where I am plagued by their "need javascript"-bla bla bla. Need I f*ck up my system?
Haha ... speechless...

added this f*g to my ignore list.
Hero calls followed by margin calls...
  • #86
  • Aug 29, 2012 9:07am Aug 29, 2012 9:07am
Quoting dee50
Hi Jonas. Grüß Gott. Confused from Spain, back again.

I am really struggling to define the zones and I can not work out from your examples the "criteria" if there is one, for defining the zones.

Also, I have attached 2 charts of the GBP Daily & 1 Hr. There is a clear, what I call Power Level, because there have been very defined bounces from this level 11 just in this 1 picture (daily) and yet it does not coincide with any of the zones, do we therefore ignore it and only concentrate on the S & D zones.

On the 1 hr chart price has just...
Hey,

thanks again for your precise questions, they will help answering a lot of the reader's questions as well.

Well how to define a zone ?
First of all we dont talk about certain levels in general, we really talk about zones,ranges,areas.
So how to define a supply or demand area ?

Actually whenever price was too high sellers exceeded buyers and price dropped down. Where price started to drop is a confirmed supply zone and vice versa for demand areas.

But we don't mark all of them. We only mark the ones that lead into open space and are either pretty low ( for demand ones ) or pretty high ( for supply ones ). Whenever price reaches one of our zones we wait for price developing a confirmation of a reversal. I mainly wait and search for bullish and bearish engulfing outside bars, regular bullish & bearish divergence, bullish and bearish pinbars.
So we also need to check where we trade into.
The level you mentioned on your daily chart would more fit in the breakout/retest/pole scenario.
The more a level is being tested the more orders get triggered = consumption = level gets weaker. So i try to avoid trading multiple tested levels.
As your pinbar example shows price reversed back down after testing the predefined supply level. Then it formed a pinbar. Well we of course can trade the first touch without any confirmation, very often we get our stop to breakeven, but this ''no confirmation trading'' is a very tough topic. I highly recommend not to do so unless you are profitable for at least 3 months doing it differently.
Well what do I mean by trading the open space ?
Take a look at your pinbar chart, yes a pinbar formed after testing a supply level, but what's ahead ? Will we be comfortable taking these trades in the long run ? The stop would've been 32 pips + spread here if we take the pinbar close ( 5837 ) as entry and the supply level ( 5868 ) as stop. Target around 5765. Means we get a 1:2,25 risk:reward ratio here. Included spread we do need a success rate of around 1/3 to bet profitable in the long run....now it is about testing, getting a sample size to see if we are profitable in the long run or not.... I say yes.

Attached Image (click to enlarge)
Click to Enlarge Name: 58.jpg Size: 88 KB


regards,
Jonas
Hero calls followed by margin calls...
  • #87
  • Aug 29, 2012 9:19am Aug 29, 2012 9:19am
Quoting PhAnTi'
Hey,

thanks again for your precise questions, they will help answering a lot of the reader's questions as well.

Well how to define a zone ?
First of all we dont talk about certain levels in general, we really talk about zones,ranges,areas.
So how to define a supply or demand area ?

Actually whenever price was too high sellers exceeded buyers and price dropped down. Where price started to drop is a confirmed supply zone and vice versa for demand areas.

But we don't mark all of them. We only mark the ones that lead into open space and...
Attached Image (click to enlarge)
Click to Enlarge Name: 59.jpg Size: 145 KB
Hero calls followed by margin calls...
  • #88
  • Aug 29, 2012 9:31am Aug 29, 2012 9:31am
Quoting PhAnTi'
very powerful setup .... regular bullish divergence + bullish pinbar right at major demand level.

entry at close of pin, stop below pin or below demand area. Target next supply.

Attachment
I am sorry I have not red the full PDF yet but I think this is not the fresh demand anymore but still its trade able ??? See to the left , the area you chose was not actual source but a bounce off the actual source ... I thought we were only suppose to look for fresh ones ... How to know the area is still valid ???
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 21 KB
Human
  • #89
  • Aug 29, 2012 9:46am Aug 29, 2012 9:46am
You know what I like the MOST about this thread after beside the obvious ???

It is not rated PG like the one where I hang out ( Which Is sucking the life out of me ) .... Thank God for that ....
Human
  • #90
  • Aug 29, 2012 9:48am Aug 29, 2012 9:48am
I really do appreciate the effort you have made writing this ebook.
I'm still reading it, but I think this will prove to be a real asset and will broaden my views on the forex market.

Keep up the good work!
  • #91
  • Aug 29, 2012 9:50am Aug 29, 2012 9:50am
Quoting Chanya
I am sorry I have not red the full PDF yet but I think this is not the fresh demand anymore but still its trade able ??? See to the left , the area you chose was not actual source but a bounce off the actual source ... I thought we were only suppose to look for fresh ones ... How to know the area is still valid ???
Price returned to our demand area, then we got a bullish engulfing outsidebar at 1. and reversed back up for several weeks. Then price returned again at this demand level. We did get heavy regular bullish divergence + bullish pinbar and a bullish continuation pattern, enough indicators for a possible reversal to buy again even if it is the 2nd test at this area. A area gets weaker, but unless it isn't broken to the other side it is still intact. Also see that price could go deepe rinto the demand level itself at the second retest = confirmation of first retest. Buy orders got consumed at 1. and we then had less buy orders at 2. = price could go lower into the zone to pick up more buy orders that were left lower in the zone.Now we go up again.

Makes sense?

Attached Image (click to enlarge)
Click to Enlarge Name: 60.jpg Size: 95 KB
Hero calls followed by margin calls...
  • #92
  • Aug 29, 2012 9:50am Aug 29, 2012 9:50am
Quoting Chanya
You know what I like the MOST about this thread after beside the obvious ???

It is not rated PG like the one where I hang out ( Which Is sucking the life out of me ) .... Thank God for that ....
PG ?
Hero calls followed by margin calls...
  • #93
  • Aug 29, 2012 10:06am Aug 29, 2012 10:06am
Quoting PhAnTi'
PG ?
PG means " Parental Guidance " !!! Its the rating given to the movies and TV shows which are meant for children starting from the age of 6 months ... Cartoons and stuff ... No F words , no Bitch calling , nothing ... Simply cute baby language ... J16 is PG rated ...

Dude , where do you live that you don't even know what is PG and you are 21 ??? Migrate !!!
Human
  • #94
  • Aug 29, 2012 10:07am Aug 29, 2012 10:07am
Quoting Chanya
PG means " Parental Guidance " !!! Its the rating given to the movies and TV shows which are meant for children starting from the age of 6 months ... Cartoons and stuff ... No F words , no Bitch calling , nothing ... Simply cute baby language ... J16 is PG rated ...

Dude , where do you live that you don't even know what is PG and you are 21 ??? Migrate !!!
Germany.... german children watch porns...no need for PG
Hero calls followed by margin calls...
  • #95
  • Aug 29, 2012 10:08am Aug 29, 2012 10:08am
Quoting PhAnTi'
Price returned to our demand area, then we got a bullish engulfing outsidebar at 1. and reversed back up for several weeks. Then price returned again at this demand level. We did get heavy regular bullish divergence + bullish pinbar and a bullish continuation pattern, enough indicators for a possible reversal to buy again even if it is the 2nd test at this area. A area gets weaker, but unless it isn't broken to the other side it is still intact. Also see that price could go deepe rinto the demand level itself at the second retest = confirmation...
Very nicely explained ... You might not need it , but I am still gonna vouch for you ...
Human
  • #96
  • Aug 29, 2012 10:10am Aug 29, 2012 10:10am
Quoting PhAnTi'
Germany.... german children watch porns...no need for PG
Lucky them .... Where I live in , even adults are not allowed to watch porn ... They still do though ...
Human
  • #97
  • Aug 29, 2012 10:17am Aug 29, 2012 10:17am
Quoting Chanya
Very nicely explained ... You might not need it , but I am still gonna vouch for you ...
it will definitely push my ego.... lol..

anyway i hope the setup is clear now, that we can adapt this line of thinking to the very next similar setup as well.

best,
Jonas
Hero calls followed by margin calls...
  • #98
  • Edited 11:04am Aug 29, 2012 10:27am | Edited 11:04am
Quoting PhAnTi'
it will definitely push my ego.... lol..

anyway i hope the setup is clear now, that we can adapt this line of thinking to the very next similar setup as well.

best,
Jonas
I have also noticed one more thing ... With what I do , Most of the time , it lines up with what you do ... That is why i was interested in this setup ... I can't explain it why ... Maybe Support and resistance do come in line with Supply and Demand I guess ... What do you think ???
Human
  • #99
  • Aug 29, 2012 10:53am Aug 29, 2012 10:53am
Quoting Chanya
I have also noticed one more thing ... With what I do , Most of the time , it lines up with what you do ... That is why i was interested in this setup ... Chart below is how I entered this one ... I can't explain it why ... Maybe Support and resistance do come in line with Supply and Demand I guess ... What do you think ???
LCS PBT etc stuff is J16 , we really should not discuss this in here...

anyway support and resistance is quiet similar to supply and demand, although support and resistance is more visual while supply/demand describes the order book... thats how i see and take it.
Hero calls followed by margin calls...
  • #100
  • Aug 29, 2012 11:02am Aug 29, 2012 11:02am
Quoting PhAnTi'
LCS PBT etc stuff is J16 , we really should not discuss this in here...
Cool . I won't ...
Human
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