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C-12's Supply, Demand and PA thread

  • #1,701
  • Feb 5, 2013 8:28am Feb 5, 2013 8:28am
Quoting C-12
Yup that's it. Demand taken out, retest of swap level and down we go.
  • #1,702
  • Feb 5, 2013 8:28am Feb 5, 2013 8:28am
Quoting Xhale12
Anyone catch this on EU? Was a nice one
Certainly did, no brainer that one. Also some heavy divergence on the oscillator.
Attached Image (click to enlarge)
Click to Enlarge Name: EU.png Size: 34 KB
  • #1,703
  • Feb 5, 2013 8:29am Feb 5, 2013 8:29am
Quoting Infest
Really nice trade. Especially the very weak 5 x 1 Min PA for the bulls in that situation... Since as C-12 said demand as taken out and few hours back we made a gap up between 126.30 -126.00 , the move down was predestinated.

thanks man
  • #1,704
  • Feb 5, 2013 8:30am Feb 5, 2013 8:30am
Quoting C-12
Certainly did, no brainer that one. Also some heavy divergence on the oscillator.
What is any ocean but a multitude of drops?
  • #1,705
  • Feb 5, 2013 8:41am Feb 5, 2013 8:41am
Quoting C-12
I want to talk about technical analysis indicators such as fibs, trend lines, oscillators, moving averages, chart patterns etc...

I seriously recommend throwing all of these out your trading toolbox. Think about it.. If 95% of traders fail and 95% use the above technical analysis methods, why would we want to use them??

Big money has to manipulate the market in order to get filled on their orders. How many times do you see a false trend line break or pattern failure? The only thing we need to know is where the big money is buying and selling....
Today I finally realize these indicators are nothing but time wasters and price prediction (today you win...the next minute loser) which means the market can beat them even after their 100% signals alert. This was my experience with ej, eu and gu today. All my profitable trades now turn loser cutting down my capital along side (about 300 pips). I agree with you. Honestly I have seen these indicators fail over and over again including the so called Japanese candlesticks pattern viz engulfing, doji, pin bar e.t.c Hmm nothing is perfect in forex at all including S&D.

I think scalping is what best fit me and I will see how this trading method can help and minimize my loses.

Lastly which time frame is the best for this method?. I know 1min is too noisy. Thanks
  • #1,706
  • Edited 9:03am Feb 5, 2013 8:46am | Edited 9:03am
Quoting dedoctor
Today I finally realize these indicators are nothing but time wasters and price prediction (today you win...the next minute loser) which means the market can beat them even after their 100% signals alert. This was my experience with ej, eu and gu today. All my profitable trades now turn loser cutting down my capital along side (about 300 pips). I agree with you. Honestly I have seen these indicators fail over and over again including the so called Japanese candlesticks pattern viz engulfing, doji, pin bar e.t.c Hmm nothing is perfect in...
You are on the right track to strip your charts down and focus purely on bare price. Although my thoughts have changed slightly since i wrote that 4 months ago.

I do think indicators have their place, but only ever secondary to supply and demand and support and resistance. I quite like a little divergence to gauge the strength behind highs and lows. Very often price will make significant turns after exhaustion moves. I'd never use it on it's own.

I've seen fibs work quite often but again they are very unreliable on their own. I've seen trend lines work, but again, they tend to break more often than they hold. Moving averages are probably the lowest down the list since if you wait for a cross of an MA then you're always arriving late to the party.

As for time frame, I'm tending to move away from M1 in general but there is no 'better' time frame for S&D trading.
  • #1,707
  • Feb 5, 2013 8:47am Feb 5, 2013 8:47am
Quoting dedoctor
Today I finally realize these indicators are nothing but time wasters and price prediction (today you win...the next minute loser) which means the market can beat them even after their 100% signals alert. This was my experience with ej, eu and gu today. All my profitable trades now turn loser cutting down my capital along side (about 300 pips). I agree with you. Honestly I have seen these indicators fail over and over again including the so called Japanese candlesticks pattern viz engulfing, doji, pin bar e.t.c Hmm nothing is perfect in...
Indicators have their place.....
What is any ocean but a multitude of drops?
  • #1,708
  • Feb 5, 2013 8:53am Feb 5, 2013 8:53am
Quoting dedoctor
Today I finally realize these indicators are nothing but time wasters and price prediction (today you win...the next minute loser) which means the market can beat them even after their 100% signals alert. This was my experience with ej, eu and gu today. All my profitable trades now turn loser cutting down my capital along side (about 300 pips). I agree with you. Honestly I have seen these indicators fail over and over again including the so called Japanese candlesticks pattern viz engulfing, doji, pin bar e.t.c Hmm nothing is perfect in...
Hold on...

Supply and Demand is part of Price Action trading. And Engulfing, doji and pin bars are also part of price action. These are not indicators, these are PATTERNS! Its something different.

Engulfing takes up a very important part for all of us supply and demand traders. They fail at unimportant places e.g middle of the chart, but at extreme levels / demand or supply levels with strong imbalance of price, an engulf on the low timeframe with a big move can indicate you we hit strong offers or bids.

And os its with the pinbar. A daily pinbar is mostly a Quasimodo setup on a lower timeframe. Again, its not an indicator! Its price action. Thats why pinbars at important levels work very often. For example: Pinbar at uptrendline, Pinbar at resistance/support level... pinbar at supply/demand area... never forget: higher timeframes first! A pinbar on the M5 or M15 doesnt mean anything most of the time.
  • #1,709
  • Feb 5, 2013 8:53am Feb 5, 2013 8:53am
C12, could you please name the indicator you use which shows your entry and close with a line on the chart. I've been following this thread from the start and I couldn't find anyone naming it. Thanks!
  • #1,710
  • Feb 5, 2013 9:01am Feb 5, 2013 9:01am
Quoting Baltimore
C12, could you please name the indicator you use which shows your entry and close with a line on the chart. I've been following this thread from the start and I couldn't find anyone naming it. Thanks!
No indicator needed, just go into the account history and drag and drop the trade directly onto the chart.
  • #1,711
  • Feb 5, 2013 9:09am Feb 5, 2013 9:09am
To the pip . However, E/U would have been the better choice.... Closed 1/2 here.
S/D zones not marked in below image but cable was at multiple demand.

http://i50.tinypic.com/2dh5ggj.gif
  • #1,712
  • Feb 5, 2013 9:16am Feb 5, 2013 9:16am
Quoting Robertk
To the pip . However, E/U would have been the better choice.... Closed 1/2 here.
S/D zones not marked in below image but cable was at multiple demand.
Nice catch!

Watch out for the S/R flip above.
Attached Image (click to enlarge)
Click to Enlarge Name: GU.png Size: 15 KB
  • #1,713
  • Feb 5, 2013 9:17am Feb 5, 2013 9:17am
Very well said. Indicators have their place and that is how I will be using them. That's for price confirmation. Price is truely the best. Honestly I wrote that piece with anger. Thanks for your response.
  • #1,714
  • Feb 5, 2013 9:23am Feb 5, 2013 9:23am
Quick 35 pip short entry EURJPY

We had a fresh supply level + qm setup..there we go , no fancy indicators


http://gyazo.com/d244cb724ee6956e26c71da79b4a4f72.png
  • #1,715
  • Feb 5, 2013 9:25am Feb 5, 2013 9:25am
Quoting C-12
Nice catch!

Watch out for the S/R flip above.
Thanks. Price was a bit away from S/R flip but there was confluence of other resistance around.. This made me close 1/2. Glad I did so considering price killed short term bull movement with one candle afterwards hah.
  • #1,716
  • Feb 5, 2013 9:30am Feb 5, 2013 9:30am
Quoting Infest
Quick 35 pip short entry EURJPY

We had a fresh supply level + qm setup..there we go , no fancy indicators


http://gyazo.com/d244cb724ee6956e26c71da79b4a4f72.png
wow, very good trade!
  • #1,717
  • Feb 5, 2013 9:31am Feb 5, 2013 9:31am
Quoting Robertk
Thanks. S/R flip was the reason I closed my first initial position.. Glad I did so considering price killed short term bull movement with one candle afterwards hah.
Yep that one died a death but taking longs on GU right now is only going to produce very little it seems.
  • #1,718
  • Feb 5, 2013 9:35am Feb 5, 2013 9:35am
Quoting C-12
Yep that one died a death but taking longs on GU right now is only going to produce very little it seems.

The big picture indicates no good for GU.

We couldnt make a higher high than 5891 and the high of the today was 5805... if we are not soon get the bulls in line, this will go down more
  • #1,719
  • Feb 5, 2013 9:38am Feb 5, 2013 9:38am
Quoting Infest
The big picture indicates no good for GU.

We couldnt make a higher high than 5891 and the high of the today was 5805... if we are not soon get the bulls in line, this will go down more
The daily looks like a turd dangling off a cliff. Ton of compression for price to fall through.

I'm struggling to find a quality higher time frame demand level.
  • #1,720
  • Feb 5, 2013 10:00am Feb 5, 2013 10:00am
Quoting C-12
The daily looks like a turd dangling off a cliff. Ton of compression for price to fall through.

I'm struggling to find a quality higher time frame demand level.
Just happened to break a new low... i see another important level at 5600, after that, not much
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