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C-12's Supply, Demand and PA thread

  • #1,801
  • Feb 8, 2013 6:37am Feb 8, 2013 6:37am
Quoting adam777

When you went short here, did you just ignore all the resistant demand levels on the way down and target the pivot low? How do you manage it on the way down?
Well I had that H1 demand level as a target, the reason I was confident with this short was the monthly chart. I was ready to add another sell higher if it got there (I took entry off the M5 but there was an even nice level above it.

Got other JPY sells locked on my swing account.
  • #1,802
  • Feb 8, 2013 6:39am Feb 8, 2013 6:39am
This one is going quite well.
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  • #1,803
  • Feb 8, 2013 6:44am Feb 8, 2013 6:44am
Quoting C-12
This one is going quite well.
How many currencies you currently monitoring?
  • #1,804
  • Feb 8, 2013 6:46am Feb 8, 2013 6:46am
Quoting 4Xfactor
How many currencies you currently monitoring?
Quite a lot but I still demo a lot swing trades since I'm mostly a scalper. I'm getting better at it but it does require a different mindset.
  • #1,805
  • Feb 8, 2013 6:53am Feb 8, 2013 6:53am
Quoting C-12
This one is going quite well.
Did you enter short immediately after the second supply zone (the middle zone) formed on your screen?

Great R:R !
WARNING: Don't follow me as I'm just learning
  • #1,806
  • Feb 8, 2013 6:57am Feb 8, 2013 6:57am
Quoting adam777
Did you enter short immediately after the second supply zone (the middle zone) formed on your screen?

Great R:R !
Yep. Since I got burned shorting the EG last week I waited for a large drop and then retest (set my alarm). Much safer entries than trying to pick the exact top.
  • #1,807
  • Feb 8, 2013 7:01am Feb 8, 2013 7:01am
Quoting C-12
Quite a lot but I still demo a lot swing trades since I'm mostly a scalper. I'm getting better at it but it does require a different mindset.
Forgive me if you've answered this already, what's your attitude towards news?
  • #1,808
  • Feb 8, 2013 7:09am Feb 8, 2013 7:09am
Quoting 4Xfactor
Forgive me if you've answered this already, what's your attitude towards news?
Just be aware of it. I'm guilty of not always checking the calendar but I'm always wary of the first Friday of the month.
  • #1,809
  • Feb 8, 2013 8:01am Feb 8, 2013 8:01am
Yen now starting to move after it feel asleep. Probably got a bit lucky with this one but not complaining.
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  • #1,810
  • Feb 8, 2013 8:59am Feb 8, 2013 8:59am
Was not in front of computer while EJ hit H4 demand, can't catch lower price, but managed to enter continuation trade.
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  • #1,811
  • Feb 8, 2013 3:02pm Feb 8, 2013 3:02pm
One for the road. Have a great weekend.
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  • #1,812
  • Feb 9, 2013 3:11am Feb 9, 2013 3:11am
Quoting C-12
One for the road. Have a great weekend.
Are the highlighted areas A and B also valid demand levels?

If so why did you not take them?

Thanks,
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  • #1,813
  • Feb 9, 2013 3:27am Feb 9, 2013 3:27am
Quoting 4Xfactor
Are the highlighted areas A and B also valid demand levels?

If so why did you not take them?

Thanks,
A - looks like rejection but not a fresh demand level due to lack of basing.

B - Better looking base but didn't really move far enough away to qualify as a level

However, regardless of the quality of these levels, look left at what price was being rejected off (check daily). If you're taking a swing trade then your stop would have been below the D1 level so all would be good.
  • #1,814
  • Feb 10, 2013 10:04am Feb 10, 2013 10:04am
Quoting C-12
A - looks like rejection but not a fresh demand level due to lack of basing.
Hi C-12,
not sure what you mean when you say "lack of basing". Do you mean something like a cluster pattern?

Wish you a nice we
  • #1,815
  • Feb 10, 2013 10:41am Feb 10, 2013 10:41am
Quoting MCFly
Hi C-12,
not sure what you mean when you say "lack of basing". Do you mean something like a cluster pattern?

Wish you a nice we
Not really any pattern as such, hard to really describe this but using the above example...

level A was a rejection bar (pin/doji) with no basing, whereas level C was a fresh demand level you could buy against.
  • #1,816
  • Feb 10, 2013 10:49am Feb 10, 2013 10:49am
Quoting C-12
Not really any pattern as such, hard to really describe this but using the above example...

level A was a rejection bar (pin/doji) with no basing, whereas level C was a fresh demand level you could buy against.
But what about A with respect to the Daily level which is not shown (further left). A is first time price returns to this level, would this not be a valid set up? I'm not sure why you didn't take that also, that's what I mean :-)
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  • #1,817
  • Feb 10, 2013 10:53am Feb 10, 2013 10:53am
Quoting 4Xfactor
But what about A with respect to the Daily level which is not shown (further left). A is first time price returns to this level, would this not be a valid set up? I'm not sure why you didn't take that also, that's what I mean :-)
I would have done if I'd have caught it in time.

Although if you miss the first entry then you can wait for a fresh demand level to form and set an alarm on it. These are actually the safest entries you can get.
  • #1,818
  • Feb 10, 2013 10:59am Feb 10, 2013 10:59am
Quoting C-12
I would have done if I'd have caught it in time.

Although if you miss the first entry then you can wait for a fresh demand level to form and set an alarm on it. These are actually the safest entries you can get.

ok, thanks, that clears that up.
  • #1,819
  • Edited 11:16am Feb 10, 2013 11:00am | Edited 11:16am
Quoting 4Xfactor
ok, thanks, that clears that up.
Here's another example I dug up from last month. I took the original previous level long but notice it also became a fresh demand level (would have been visibly cleaner on M30).

If you can spot levels like that the risk / reward ratios are pretty insane.

Also notice the exit and short was taken after a fresh supply level had formed.
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  • #1,820
  • Feb 10, 2013 11:22am Feb 10, 2013 11:22am
Quoting C-12
Not really any pattern as such, hard to really describe this but using the above example...

level A was a rejection bar (pin/doji) with no basing, whereas level C was a fresh demand level you could buy against.
I think I know what you mean. It's some kind of buyer seller discussion which one side wins. In this example the PA at level C made a new low but couldn't close below level B and even below level A. The bears exhausted in a way of a failed falg and the move away from level C is showing buyer's strength. After the spinning top at level A we can expect something like a retracement (what it did) but when the buyers rejected the last attempt of the sllers to fall after level B we can expect a change in the buyer seller structure what could cause a reversal.

I hope this makes sense
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