Sam Seiden only tells you half the story, although the concept of Supply & Demand is very good and is the source code to price action. I used to use the supdem_ii indicator but recently I've stopped using it as it only shows you a very small percentage of actual S&D zones on the charts (particularly swing highs & lows)... when there are so many more.
Search this forum for lovejoys price action thread and watch his videos, then read the first half of the e-book put together in this post http://www.forexfactory.com/showthread.php?t=380676 (IGNORE the indicator confluence stuff, it may well work but it's not needed).. all this will add to your Sam Seiden material and give you a more complete idea of what's going on.
Basically supply and demand zones are present not only in swing high/lows... they are present at range breakouts, arch breakouts, triangle breakouts... all breakouts!!! and the zones created immediately act as the reverse when broken through. Sam Seiden is only showing you 1/4 of the picture!
Search this forum for WMD's thread on price action, the "Arch" price formation he describes is created due to S&D... put all these pieces together and your charts become clear.
To answer you're question, using BB for the "All Star" entry has some grounds based on BB pierces indicating extreme points in price above/below standard deviation so in theory its a good form of confluence BUT here is the kicker... you don't need BB you can basically identify the large wick on the candle yourself and the actually understand what's happening. Price is being rejected beyond the decision point in the supply or demand zone, this creates the wick as reverse orders push price right back down/up and plant the seeds for the reversal.
Remember this isn't a 100% method, but what is ? ..it's susceptible to conditions change and sentiment change BUT it's reliable enough to trade so with correct money management you have your own holy grail!
Search this forum for lovejoys price action thread and watch his videos, then read the first half of the e-book put together in this post http://www.forexfactory.com/showthread.php?t=380676 (IGNORE the indicator confluence stuff, it may well work but it's not needed).. all this will add to your Sam Seiden material and give you a more complete idea of what's going on.
Basically supply and demand zones are present not only in swing high/lows... they are present at range breakouts, arch breakouts, triangle breakouts... all breakouts!!! and the zones created immediately act as the reverse when broken through. Sam Seiden is only showing you 1/4 of the picture!
Search this forum for WMD's thread on price action, the "Arch" price formation he describes is created due to S&D... put all these pieces together and your charts become clear.
To answer you're question, using BB for the "All Star" entry has some grounds based on BB pierces indicating extreme points in price above/below standard deviation so in theory its a good form of confluence BUT here is the kicker... you don't need BB you can basically identify the large wick on the candle yourself and the actually understand what's happening. Price is being rejected beyond the decision point in the supply or demand zone, this creates the wick as reverse orders push price right back down/up and plant the seeds for the reversal.
Remember this isn't a 100% method, but what is ? ..it's susceptible to conditions change and sentiment change BUT it's reliable enough to trade so with correct money management you have your own holy grail!
DislikedHi Rail & friends,
Sorry I forget to tell you guys. Thanks for great & short thread I, just was looking for S/D indicator & accidently found this thread it's fantastic.
One more discussion I would like to make about Sam Seiden Email that you received on page 14 post 202.
The ending of that email(by Sam himself) was
[color="Blue"][i]"To make an already long story short, I don’t use indicators and oscillators in my trading and we don’t focus on them at Online Trading Academy. They lag price which means that if we add anything to our decision...Ignored
