Dislikedsclz- Each futures chart should have negative correlation(one in suppy and other in demand on same time frames. Make sure the futures charts are setting up with your FOREX charts.Ignored
Will do that.
Price Action made simple with Supply and Demand levels
- #422
- Oct 28, 2013 1:54pm Oct 28, 2013 1:54pm
clementngu- Right onNow stay with a proven procedure for trading. I will try to give more of these little charts to keep you on your game. Let me know if you start losing any trades we will work on them together.
I have a few questions which I have marked on the chart. I find it confusing cause i though both Zone 3-4 are valid. You mentioned only number 4.
Also can you please explain or tell where I can learn about the ,curve, that you mention.
explor359-
Yes zone 3 is not fresh. Based off this 4 hr chart.
Now the chart you sent me is showing a valid fresh zone that you marked zone 3.
It's in a good demand on the curve.
I was mentored on how to see the curve. I will search to see if I can find a video on the curve for you.
I understand the curve like this
Extreme is the beginning of a curve, Low is the end of a curve)
Yes zone 3 is not fresh. Based off this 4 hr chart.
Now the chart you sent me is showing a valid fresh zone that you marked zone 3.
It's in a good demand on the curve.
I was mentored on how to see the curve. I will search to see if I can find a video on the curve for you.
I understand the curve like this
Extreme is the beginning of a curve, Low is the end of a curve)- The curve starts in a straight trend line up or down.
- When there is a turn in price and it starts coming back to your selected zone you will want to validate how far out on the curve it is from current price.
- Hint: This is where price starts to curve back toward a strong zone.
- Is you entry at the extreme (top for downtrend curve or bottom for uptrend curve) of the curve or is it at the low (bottom for down trend curve or top for uptrend curve) of the curve?
- I perfer my orders to be closer to the extreme of the curve.
- This gives my trade a higher probability.
I will elaborate on this much more. I had been taught this idea by examples drawn on the board. which was best.
- #429
- Oct 28, 2013 3:19pm Oct 28, 2013 3:19pm
explor359- I tried drawing it out for you. Lets see if this will help start you out. {image}
thanks a lot Gilamonster, Still trying to wrap my head around it
.In the drawing that you made it says Demand level on top, shouldn't the demand be at the low of the curve because price went up i.e. buying.
Supply on top where you wrote 'Demand' as the price dropped from there.
Same with the zone 3 on the UJ chart you said "It's in a good demand on the curve." The price fell from there why do you say demand?
Thank you for helping my dumb head..
Gilamonster-
There is a fresh M30 DBD supply zone for AUDUSD. The zone is only 2.3 pips wide (market is really slow today), which can offer great RRR. But a small increase in volatility at entry can easily stop out the trade. The downside for this trade is that it's low on the curve in H1 chart (since you just taught us about curve). Do you play small zones like this one? If you do, how do you like to set up the trade? This is how I plan to set up: short entry at 0.9603, SL at 0.9610 with tp at 0.9582. RRR is 1:3.
There is a fresh M30 DBD supply zone for AUDUSD. The zone is only 2.3 pips wide (market is really slow today), which can offer great RRR. But a small increase in volatility at entry can easily stop out the trade. The downside for this trade is that it's low on the curve in H1 chart (since you just taught us about curve). Do you play small zones like this one? If you do, how do you like to set up the trade? This is how I plan to set up: short entry at 0.9603, SL at 0.9610 with tp at 0.9582. RRR is 1:3.
Gilamonster- There is a fresh M30 DBD supply zone for AUDUSD. The zone is only 2.3 pips wide (market is really slow today), which can offer great RRR. But a small increase in volatility at entry can easily stop out the trade. The downside for this trade is that it's low on the curve in H1 chart (since you just taught us about curve). Do you play small zones like this one? If you do, how do you like to set up the trade? This is how I plan to set up: short entry at 0.9603, SL at 0.9610 with tp at 0.9582. RRR is 1:3. {image}
the trade looks great , this is how i would have take it:
http://gyazo.com/625cfd7b67ffd58bbf4a1425b614fa63
2:1 RR , pretty good, although the level is only 3 pips (2 pips + space for the price to "breath" and move), that's how the currency moves , the level looks fine and i like to take 2:1 setups so that setup seems to be very good.
hope i helped.
if you have any more questions you are more that welcome to ask
A Great Teacher you are indeed! Thanks. 
clementngu- Right on
Hi SamsungS3,
Here's my two cents, I zoomed into 30min and refine further to 1.0401 and 1.0394. However The leg-out is not explosive enough to me. So probably not a good level. Perhaps Gilamonster or Thomaas will have better explanation.
Here's my two cents, I zoomed into 30min and refine further to 1.0401 and 1.0394. However The leg-out is not explosive enough to me. So probably not a good level. Perhaps Gilamonster or Thomaas will have better explanation.
USDCADH1, how do you guys find this demand ? {image}
