LJ Forex Group

I'm in the same trade, but not sure if demand has been consumed.

Closed some for my own comfort at floorpivot Piv and move SL to BE+1

Hi B, that's cable your showing, my trade is E/U, btw cable is compressing down on the 15m-tf, watch it

Just glanced at your chart.

Anyway, closed 2/3 at 1.5885 for +40 pips.

I'm in too Entry of touch of 1.2605 + retrace of 1h BEOB . Took some off the table, but still in. Charts will be posted tonight.

Edit:

Are you reading over my trade plan LOL

Closed all at lower demand also 1H-PPZ ........... just in time

Bought EU at 1.2580

Quick question for you, when trading on IG do you restrict yourself to pairs that have a low spread, say, lower than 8 pips?

I use their platform mainly for my analysis, but yes when I issue a trade i only pick one of the majors with the lowest spread. Their spreads on minors like E-A or E-N are over 10 pips

Close 2/3 at 1.2605 for +50 pips.

Yeah i got caught out with spread of 10 pips earlier today on EA (dont even know why i had that chart open). Thought id ask because ive heard some people say that if youre a good trader the spread doesnt matter, but my thinking is that youre at an immediate disadvantge even with a 3 pip spread and to me 10 is too much.

Thanks

Closed remainder at 1.5620 for +40 pips (+90 pips in total).

Bought EURCAD at 1.2403 (2 lots).

Closed all at BE. 5M hidden supply is stronger than expected...

Sold NU at 0.8026.

NU 1M. My favorite "Bull Trap".....

Here is a trade that just closed on one account. Price might go much higher but I just took it to the FLR for a +1.4R win on this account. (I do have it still open on another account with SL up to 1.9855 so we shall see how this one pans out).

This was a very high probability trade (don't believe those that tell you trading off 5min is tricky and noise and that touch trading is more aggressive - those people really don't have a clue and just part of the ever growing retail price action herd).

The trade is based off the daily TF, but zooming in to find the demand for where to bid and where to place my SL and the supply for where to exit.

It's amusing when you read other price action material over the net and you see comments like 'supply and demand is just another name for support and resistance' and 'I don't understand supply / demand trading it's illogical'.

Slowly and surely these guru's will cotton on that supply and demand is the fundamental reason why price moves - it represents the large institutional order-flow - you know the money that actually moves a market!

Price does not move because it hit an SR, a moving average, a fib, because a pin bar formed, because your ATR or other lagging indicator tells you price is over bought or oversold it only ever moves because of imbalances in demand and supply nothing more, nothing less.

Thus if you don't understand supply and demand you don't understand price action and if you think supply and demand is just another name for support and resistance you are deluded (yes there are similarities but there are fundamental important differences).

Without good knowledge of supply and demand and how to spot this on a chart you couldn't take the trade I just took with such a precise entry (ignoring the spread), such a small SL and a precision exit.

I've started re-organising my free material on my website to re-educate some people who want to learn to trade price action the correct way - starting with the the most important thing that matters....SUPPLY AND DEMAND.

Yes, this stuff might seem more complicated that other price action material you'll find regurgitated all over the net...that's because I'm not teaching mechanical systems, I'm teaching REAL price action trading...do you think Livermoore had a rule book of how to read the tape?! Do you think Soros had a rule book with a step by step guide on how to break the Bank of England...of course they didn't! To become a real price action trader you have to learn to think for yourself and separate yourself away from the retail herd cos at the end of the day the herd struggle to make money from trading.

3 trades 3 charts

EURUSD 1m: Simple HH entry with confirmation PB (Yes, a lagging indicator)
EURUSD 1h: Entry on retracement of 1H BEOB and trendline. Good trade to go long at immediate D.
AUDUSD 15m: Probably not the best setup. Multiple short entries across multiple timeframes. Missed FTA due to momentary screen lapse. Potential FTA trade long on Friday's session.

Hit my TP1 (0.8006) for +40 pips (20 pips/lot). SL to BE+1 now.

Yesterday got the same comment (supply and demand is just another name for support and resistance) from a member of the Korean forum I occasionally visit. Didn't say anything because I didn't want to go into a dispute. I'm a peace-loving person.

"Price moves just because of imbalances in demand and supply nothing more, nothing less."

Very good trade and post!!