Price Action made simple with Supply and Demand levels | Page 17 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Price Will Tell - Supply/Demand Price Action Trading 1,858 replies

Trading Made Simple the right way, and other trading lessons 334 replies

Price Action + Demand & Supply Zone + Money Management 0 replies

Simple Supply & Demand 0 replies

Reading price bar by bar and identifying supply/demand levels 16 replies

Attachments: Price Action made simple with Supply and Demand levels
Exit Attachments

Price Action made simple with Supply and Demand levels

  • #321
  • Oct 25, 2013 3:03pm Oct 25, 2013 3:03pm
Quoting Gilamonster
rtkwar- Fine line placement is a process. You will need to practice this. Let me see if I can help: Legs are \"exciting\" legs need to have a body that is more than 50% of range of the candle. Bases are \"boring\" Bases need to have a body that is 50% or less than the range of the candle. I have included a chart example for you. {image}
OK Gilamonster, can you mark bars which are included in base , which bars are "leg-in " and "leg-out"? vertical lines, from which bar you take high/low and body's open/close?

Thank you so much.
The Market pays you to be disciplined
  • #322
  • Oct 25, 2013 3:23pm Oct 25, 2013 3:23pm
fxbishop-

Using the US Dollar Index is easier than you think.

  1. Start your trading day of by having a pre market routine
  2. Check what you have missed not only in major news but Price
  3. You don't need to ponder on the news and read peoples comments
  4. I like to first go to http://finviz.com/futures_charts.ashx?t=CURRENCIES&p=d1
  5. Start looking for negative correlation in each currency
  6. Look at where the USD is at. (don't be afraid to look at the bigger picture, larger timeframe)
  7. Next find currencies charts that are exactly opposite from the USD charts. (example, USD near supply and GBP, EUR, and AUD at demand on same charts)
  8. Find the one that is more obvious and compelling. (when you start looking at your platform charts compare what you hae seen in your futures charts)
  9. Next, time to check the trend on your daily chart on your trading platform. What is the sentiment? Where is price headed?
  10. After that Go to your 4hr chart or your 1hr chart to find strong zones. Be picky.
  11. Look for two Supply and Demand zones. I do this to stay ahead so after my trade is set I can begin to prepare for a new zone setup.
  12. Now go to your 15 or 5min charts to find the best entry , stop , and targets for your next trade.

These charts are of courtesy from FINVIZ.COM

Attached Image


Attached Image


I hope that these two charts make sense for the negative correlation explaination
  • #323
  • Oct 25, 2013 3:44pm Oct 25, 2013 3:44pm
mima-

Let me know if this is understandable for you.

I have drawn it out on my chart to show as an example of base candles.

Attached Image (click to enlarge)
Click to Enlarge Name: 0210252013example.png Size: 51 KB
  • #324
  • Oct 25, 2013 4:53pm Oct 25, 2013 4:53pm
rtkwar-

The chart that you circled is a 1 hr chart. I found that area on a 4 hr chart. Look at 4 hr. chart to see what I am looking at there.

I decided not to delete that zone before I saved the image to my desktop.

When I originally posted this chart I said that I found it on a 4 hr chart.
  • #325
  • Oct 25, 2013 5:11pm Oct 25, 2013 5:11pm
Is this another thread where a user posts a thread with the intention of getting a bunch of gullible users together to sell private forum access to later?
  • #326
  • Oct 25, 2013 9:23pm Oct 25, 2013 9:23pm
Kanzler-

? This is the first random post I have seen here.

What is private forum access?

Is someone out to get me Maybe the NSA is watching.

This is an honest thread if that is what you are looking for.

Wins, loses and trading experiences are only shared here.

Are you in? Only one person has asked me for my credit card since being here.
  • #327
  • Oct 25, 2013 9:27pm Oct 25, 2013 9:27pm
Quoting Kanzler
Is this another thread where a user posts a thread with the intention of getting a bunch of gullible users together to sell private forum access to later?
I strongly believe this is not the case ....I also believe that you might have in mind individual DaddyBear who exactly did what you said:

Initially opened : Euro Yen Institute and Aussie Trading Room and Cartoons Gallery...then opened third one Daddy Bear Forex for Newbies - Little EYI to charge members.


All of them are now in commercial side of http://www.forexfactory.com/
The Market pays you to be disciplined
  • #328
  • Oct 25, 2013 9:41pm Oct 25, 2013 9:41pm
mima-

Thanks. This was new to me. I AM glad to know the truth.

Hopefully Kanzler won't take my comment the wrong way. Which was just straight forward.
  • #329
  • Oct 25, 2013 9:45pm Oct 25, 2013 9:45pm
Kanzler-

I am glad that mima has stated her view. I admit to being ignorant and passive aggressive in my comment.

I can't wait to see what you bring to the table here.
  • #330
  • Oct 25, 2013 9:54pm Oct 25, 2013 9:54pm
Quoting Gilamonster
Kanzler- I am glad that mima has stated her view. I admit to being ignorant and passive aggressive in my comment. I can't wait to see what you bring to the table here.

Small correction: mima is he...mima is combination of first two letters of first name and first two letters of last name ...Sorry for confusion.
The Market pays you to be disciplined
  • #331
  • Oct 25, 2013 10:03pm Oct 25, 2013 10:03pm
Quoting mima
{quote} I strongly believe this is not the case ....I also believe that you might have in mind individual DaddyBear who exactly did what you said: Initially opened : Euro Yen Institute and Aussie Trading Room and Cartoons Gallery...then opened third one Daddy Bear Forex for Newbies - Little EYI to charge members. All of them are now in commercial side of http://www.forexfactory.com/...
I was actually more angry about the Alfonso trading thread that recently had the other shoe drop. Scammers all over the place just waiting to launch their nasty little plots. Sometimes I wonder if there are more people dedicated to trading here or whether all the "big" names are just waiting to launch their fraudulent businesses at the right time. A few hours ago I created a new thread to hopefully get some attention to this problem...as much as I dislike DB and believe him to be a total con, at least his commercial thread is upfront.
  • #332
  • Oct 26, 2013 4:44am Oct 26, 2013 4:44am
Hey everyone , we ended the week with EUR/GBP supply zone touch at the 1H chart:
http://gyazo.com/19f5a05242e4f222348511867b846f0d
the zone is fresh and good , but is too big, so the R:R should not be more than 1:1 - 1:1.5 , what do you think it's better to do with this kind of big level, trade that whole level or minimize it by taking only the wicks and by that minimize our risk and letting us take a 1:2 or more R:R trade. (in the second case , the trade still didn't active - no touch of supply : http://gyazo.com/11e51f38fff14793590a64733cb33970 )
  • #333
  • Oct 26, 2013 4:54am Oct 26, 2013 4:54am
Quoting interputure
Hey everyone , we ended the week with EUR/GBP supply zone touch at the 1H chart: http://gyazo.com/19f5a05242e4f222348511867b846f0d the zone is fresh and good , but is too big, so the R:R should not be more than 1:1 - 1:1.5 , what do you think it's better to do with this kind of big level, trade that whole level or minimize it by taking only the wicks and by that minimize our risk and letting us take a 1:2 or more R:R trade. (in the second case , the trade still didn't active - no touch of supply : http://gyazo.com/11e51f38fff14793590a64733cb33970...
Try to finetune the zone on a lower timeframe ... and see if you can improve the RR.
MT4/MT5 EAs/Indicators/Alerts coder
  • #334
  • Oct 26, 2013 6:56am Oct 26, 2013 6:56am
30M seems to be the best area.
look at all the areas in the 1H chart:
http://gyazo.com/5300e8a7fdc5e6e8e6df983c854e9416
the 30M area is the same as the 1H wick area , trading that.
  • #335
  • Oct 26, 2013 7:02am Oct 26, 2013 7:02am
Here's the trade in anyone want to take it:
http://gyazo.com/af0340f81d36d8c46476848a84755476
  • #336
  • Oct 26, 2013 7:20am Oct 26, 2013 7:20am
Another good trade i found that may be on SIVLER.
4H demand:
http://gyazo.com/9322e69d6a4f05a44aeebf19c19f89bd
1H demand:
http://gyazo.com/ba09d7eb3a6f758e289df2046a953f95
(you can see here also the 4H demand)
I will take the trade based on the 4H demand because it looks much better
--
enter trade: @22.07
stop loss: @21.92
take profit: @22.37
1:2 R:R
monvind SL to BE when price is at the @22.30 resistance and maybe taking half of the profit at that area.

  • #337
  • Oct 26, 2013 7:22am Oct 26, 2013 7:22am
Yes an entry on the M30 area seems to have a better RR possibility (EURGBP).

Nice RBD you found here
MT4/MT5 EAs/Indicators/Alerts coder
  • #338
  • Oct 26, 2013 7:48am Oct 26, 2013 7:48am
Quoting Gilamonster
mima- Let me know if this is understandable for you. I have drawn it out on my chart to show as an example of base candles. {image}

Thank you so much for your time and effort...I will let you know of course..
The Market pays you to be disciplined
  • #339
  • Oct 26, 2013 11:25am Oct 26, 2013 11:25am
any comments on nzdusd?
  • #340
  • Oct 26, 2013 11:31am Oct 26, 2013 11:31am
Quoting trexy123
any comments on nzdusd?
We have an interesting zone .8265/.8275 ...

Let's see what happen at market open.
MT4/MT5 EAs/Indicators/Alerts coder
1 trader viewing now