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Price Action made simple with Supply and Demand levels

  • #381
  • Oct 27, 2013 9:00pm Oct 27, 2013 9:00pm
Quoting detroitmoney
.... No one patented supply and demand trading BTW. Saw that earlier in this thread. ....

Quoting detroitmoney
{quote} The first 2 words explain it mima. It means their own system \"odds enhancers\" and the like not supply and demand in general. If that IS what they are trying to do though have no fears it WILL NEVER happen. You can take that to the bank!!

I never said that Sam Seiden and/or OTA patented "Supply and Demand " itself ...I said system which is significantly different and I mentioned that " I might be wrong of course" :


Quoting mima
{quote} As per Sam Seiden, who patented this system, more candles weaker level.... I might be wrong of course
In article of SFO magazine (january 2005) Sam Seiden said: Noted economist Adam Smith suggested hundreds of years ago that when supply exceeds demand at a price level, prices will decline and vice-versa.

So everyone recognize history of "Supply and Demand" therefore neither myself nor Sam Seiden nor OTA was talking about patenting " Supply and Demand " as you stated in your post...

Your comment is insulting intelligence.
The Market pays you to be disciplined
  • #382
  • Oct 27, 2013 10:59pm Oct 27, 2013 10:59pm
Quoting Gilamonster
samsungs3- In FOREX Gaps are not common. If you trade futures or other type's of ETF's, then you will see gaps more often. I was just clarifing a point that had been made prior to my post. I have never worried about gaps in FOREX unless it has been on a longer term chart.( Daily, Weekly and Monthly ) Now we did have a gap on USD/JPY opening. It is plain on my 1hr chart but the zone I am looking at is not in my trading plan so I will stay out of that trade. I will wait for a more obvious and compelling zone. Supply or Demand. Stick with what you...
Thank you
  • #383
  • Oct 28, 2013 12:33am Oct 28, 2013 12:33am
I posted some charts here .... so welcome comments.
USDJPYH1,

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EURUSDH1

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  • #384
  • Oct 28, 2013 12:41am Oct 28, 2013 12:41am
CrudeOil, Daily

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  • #385
  • Oct 28, 2013 1:04am Oct 28, 2013 1:04am
I like this thread....Thank you Thomas and Gilamonster.
  • #386
  • Oct 28, 2013 3:09am Oct 28, 2013 3:09am
Quoting samsungs3
I posted some charts here .... so welcome comments. USDJPYH1, {image} EURUSDH1 {image}
Somme comments about your levels below.

1st chart:
- top: no strong price movement here, so not a good level
- bottom: good level, but you should try to refine it a bit

2nd chart:
- top: too many candles in the level, so not a good level
- bottom: good level, but you should remove the top shadows (see my first post about how to draw levels)
  • #387
  • Oct 28, 2013 5:10am Oct 28, 2013 5:10am
Sorry I don't have time to reply to everyone, but thanks for all of your kind words about this thread!

Quoting dinnebolt
Thx thomaas for sharing your system! It's very insteresting. I love price action forex, that's why this system suits me very well.
Quoting dpaulinla
Thanks for the forum Thomas, it is very informative and I have subscribed. The concept of the DBR and the RBD are easy enough to understand and it makes perfect sense to me since I have seen it many times in my charts.
Quoting ZoranB
Nice thread... thanks for starting it....
Quoting awitFX
I like this thread....Thank you Thomas and Gilamonster.
  • #388
  • Oct 28, 2013 6:47am Oct 28, 2013 6:47am
samsungs3-

I like the bottom area you marked.

Stay away from that top area. Even when you zoom down to a 5 min chart you will see it is not fresh.

Try this USD/JPY 1 hr chart.

Compare your zone to mine and see how I use my fine line placement.

Teach yourself to identify zones.

When it starts getting boring looking for zones, DON'T change what you are doing. STAY structured you may be doing the right thing.

Review your trade plan and confirm that you are following it.

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  • #389
  • Oct 28, 2013 6:48am Oct 28, 2013 6:48am
Thank Thomaas , Gilamonster for comments.
How do you guys find this level.

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  • #390
  • Oct 28, 2013 6:54am Oct 28, 2013 6:54am
samsungs3-

Your oil chart shows me that a strong Demand zone was created in late June 2013.

The current zone you marked off is now nto fresh once price leaves this area.

I would be looking for a long position here. \
Try a smaller timeframe, you may have an entry still in this area.

If price has rallied out of here wait for a pull back to a demand zone before jumping on the boat.

Be patient and disciplined with trend trading.
  • #391
  • Oct 28, 2013 6:58am Oct 28, 2013 6:58am
Hi Gilamonster,
Just get back to your first post find that you put stop loss quite different from others.

a short trade spread x3

Why spread x3 ? Could u help to explain ?
  • #392
  • Oct 28, 2013 7:12am Oct 28, 2013 7:12am
Hi Thomaas and GilaMonster,

I'm currently setting up pending trades below. I refined it further after second review of whole thread. Just saw one similar to GilaMonster, yet post it anyway. Appreciate feedback. Thanks.

AUDUSD 2 trades
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EURUSD
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USDJPY
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  • #393
  • Oct 28, 2013 7:13am Oct 28, 2013 7:13am
Could you explain , why u put target at 97.52 ? Because your fixed R:R or we have demand zone there ?

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  • #394
  • Oct 28, 2013 7:39am Oct 28, 2013 7:39am
samsungs3-

Lets do this together. You will be using 3 different time frames.

  1. Identify trend on daily chart
  2. Find STRONG zone setup on 4hr or 1hr charts
  3. Setup your entry on 15 min or 5 min charts

Take a look at my chart too.

I marked your zone entry on a 1 hr chart, but you will have to do your homework and zoom in on a smaller time frame to find it.

I won't take this trade because it has a lower probability of succeeding. Can you tell me why it doesn't look too strong?

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  • #395
  • Oct 28, 2013 7:45am Oct 28, 2013 7:45am
samsungs3-

That is my 3:1 at 97.52

I do not expect a home run trade everytime.

If price comes to that area then this would be a home run trade for me.

Honestly I don't see a lot of demand there. Price could do two things:

  1. Price could not even come down to my target and I would be forced to take partial profit
  2. Price keeps falling to next strong demand.

I will not get emotional about it but will protect what I have made, and eliminate my risk.

  • #396
  • Oct 28, 2013 7:55am Oct 28, 2013 7:55am
samsungs3-

Thanks for all the questions. It makes me review my rules and plan more often.

You are keeping me in the habit.

I use a spread x3 to:
Protect from shorter volaitility(whiplash)

Honestly thats it.

Remember I am moving my stop as soon as price leaves the area to lock in profit.

Price needs to make a convincing move or begin changing sentiment in the direction of my trade, if not I will take a small loss and will move on.

I only take small losses. My stops are hit only when I am not present or too much volatility.

I am more worried about my risk than anything else. Thatis why I perfer to manage my trade.
  • #397
  • Oct 28, 2013 8:37am Oct 28, 2013 8:37am
Quoting Gilamonster
samsungs3- Lets do this together. You will be using 3 different time frames. Identify trend on daily chart Find STRONG zone setup on 4hr or 1hr charts Setup your entry on 15 min or 5 min charts Take a look at my chart too. I marked your zone entry on a 1 hr chart, but you will have to do your homework and zoom in on a smaller time frame to find it. I won't take this trade because it has a lower probability of succeeding. Can you tell me why it doesn't look too strong? {image}

Thank you ,Gilamonster . My answer below:

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Is it pin bar insde created M15 zone ?

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  • #398
  • Oct 28, 2013 8:43am Oct 28, 2013 8:43am
samsungs3-

Great! I am happy you found that zone on the 15 min chart.

But the reason why it isn't to strong to me is because that area is in the middle of the curve.

The bottom zone is at a strong more extreme area on the curve, that is why it a higher probability trade for me.

If I wanted to I could take the 15 min chart zone, but I am looking for the more promising move for my trading plan.
  • #399
  • Oct 28, 2013 8:48am Oct 28, 2013 8:48am
smasungs3-

One more thing to keep in mind when finding strong areas to perform your fine line placement:

At pivot points price was able to reverse, so this is proof that most of the "meat" or orders are eaten up.
  • #400
  • Oct 28, 2013 9:13am Oct 28, 2013 9:13am
clementngu-

You could get a small bounce out of that zone on the EUR/USD but remember that area has been chewed up.

Yes that is a valid fine tuned line placement.

Why don't you check on a smaller time frame then tell me what you see in that area.

As for AUD/USD entries I have a chart for you to see.

Check it out on you chart and remember to follow your trade rules.

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