Price Action made simple with Supply and Demand levels | Page 37 | Forex Factory

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Price Action made simple with Supply and Demand levels

  • #721
  • Edited 1:02pm Nov 18, 2013 12:06pm | Edited 1:02pm
Quoting fxjorr
{quote} thankiu thomaas, sorry for such a newbie question..., just trying to understand this system. can you please look at my levels and see if is good to go long in one of these levels? {image}
This is quite good for a first time, congratulation! The zones are at the right spots, but the way you draw the zones seems a bit off.
You should take a look at http://www.21pips.com/forex-bouncing-zones-1.php to better understand how to draw the zones

Quoting duke789
So many thanks Thomas, So impressed with all stuff here that I have to register an account to learn more from all of you. May I ask if the levels which I draw here is good to place buy limit? Just wanna check if I get rightly what you are sharing or not. {image}
Nice levels! The bottom level is good, the top one you forget to include the bottom of the wick of the last candle.

Quoting 3piper
what kind of stop loss do you suggest with this strategy?
I put my stop loss just above a supply zone or below a demande zone. It's explained in rester detail in the link I mentioned above.
  • #722
  • Nov 18, 2013 12:39pm Nov 18, 2013 12:39pm
Thank you Thomas,
Just placed Buy Limit
Hope to see Green tomorrow!
  • #723
  • Nov 19, 2013 4:18am Nov 19, 2013 4:18am
Hi Thomaas
I just tried to backtest this system and found this case which I'm not clear
I found a nice zone in H4 chart as following
Attached Image (click to enlarge)
Click to Enlarge Name: screen_00014.jpg Size: 108 KB

After check H1 chart, I found a zone in H1 chart inside "leg out" of H4 zone.
Attached Image (click to enlarge)
Click to Enlarge Name: H4 AND H1 CHART ZONE.jpg Size: 163 KB

Which zone should I choose.
  • #724
  • Nov 19, 2013 4:56am Nov 19, 2013 4:56am
Quoting thomaas
{quote} This is quite good for a first time, congratulation! The zones are at the right spots, but the way you draw the zones seems a bit off. You should take a look at http://www.21pips.com/forex-bouncing-zones-1.php to better understand how to draw the zones {quote} Nice levels! The bottom level is good, the top one you forget to include the bottom of the wick of the last candle. {quote} I put my stop loss just above a supply zone or below a demande zone. It's explained in rester detail in the link I mentioned above.
Hi thomaas, thankiu, ur reply encourage me to keep trying this strategy. I Am still bit confusion wich direction should I shoot the trade., can you kindly respond in my char wich trend should I follow? 1 (up) , 2 (up) or 3 (down) ?

Thanks very much in advance

PD: btw, already read your webpage, gonna make another reading.
Attached Image (click to enlarge)
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  • #725
  • Nov 19, 2013 6:05am Nov 19, 2013 6:05am
Quoting fxjorr
{quote} Hi thomaas, thankiu, ur reply encourage me to keep trying this strategy. I Am still bit confusion wich direction should I shoot the trade., can you kindly respond in my char wich trend should I follow? 1 (up) , 2 (up) or 3 (down) ? Thanks very much in advance PD: btw, already read your webpage, gonna make another reading. {image}
Sorry, I'm not sure I understand your question.
I do not care about the trend in my strategy. If it's a supply zone, yI go short. If it's a demand zone, I go long.
  • #726
  • Nov 19, 2013 6:09am Nov 19, 2013 6:09am
Quoting thomaas
{quote} Sorry, I'm not sure I understand your question. I do not care about the trend in my strategy. If it's a supply zone, yI go short. If it's a demand zone, I go long.
  • #727
  • Nov 19, 2013 2:28pm Nov 19, 2013 2:28pm
Quoting fxjorr
{quote}
Awesome! :-)
Let me know if you have any other question!
  • #728
  • Nov 19, 2013 5:23pm Nov 19, 2013 5:23pm
hi thomaas & all, what do you think placing a buy order here (1.3540 area), now that it have been broken?
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_2013_19_11a.png Size: 45 KB
  • #729
  • Nov 19, 2013 6:06pm Nov 19, 2013 6:06pm
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting fxjorr
hi thomaas & all, what do you think placing a buy order here (1.3540 area), now that it have been broken? {image}
Hmmm ... the zone isn't so fresh.
MT4/MT5 EAs/Indicators/Alerts coder
  • #730
  • Nov 19, 2013 6:23pm Nov 19, 2013 6:23pm
Quoting ferrufx
{quote} hmmm ... The zone isn't so fresh.
i agree,is not even close
  • #731
  • Nov 19, 2013 6:49pm Nov 19, 2013 6:49pm
Quoting FerruFx
{quote} Hmmm ... the zone isn't so fresh.


Quoting brandy711
{quote} i agree,is not even close
I understand what "fresh" means, but.. what do you mean is not close ?
  • #732
  • Nov 19, 2013 6:52pm Nov 19, 2013 6:52pm
Quoting fxjorr
{quote} {quote} i understand what "fresh" means, but.. What do you mean is not close ?
if is not fresh,therefore is not close to be fresh,we have to wait,don't u agree?
  • #733
  • Nov 19, 2013 6:57pm Nov 19, 2013 6:57pm
Quoting brandy711
{quote} if is not fresh,therefore is not close to be fresh,we have to wait,don't u agree?
so you both are saying the same thing but with diferent words ?
  • #734
  • Nov 19, 2013 7:51pm Nov 19, 2013 7:51pm
Hi Thomas
Yesterday had a SL with USDCAD M30
Attached Image (click to enlarge)
Click to Enlarge Name: usdcadm30.png Size: 37 KB

No problem with the SL because of law of big number
Just want to check if there is anything wrong with the zone which I draw?

Hi Gilamonster
Do you set SL above your second line for a short trade spread x3 for trading M30 zone?
  • #735
  • Nov 19, 2013 9:21pm Nov 19, 2013 9:21pm
Quoting Gilamonster
I would like to share with everyone, what my mentor has shared with me. " Look for what is obvious and compelling" " You are not a novice at anything if you can control your decisions and the emotions built around those decisions" " The time is now, and you are doing the best you can do" I know these are affrimations but that is how I have programed myself.
Thank you so much Gilamonster.
thanks for your advice, everything much clearer to me.
  • #736
  • Nov 20, 2013 5:09am Nov 20, 2013 5:09am
Quoting duke789
Hi Thomas Yesterday had a SL with USDCAD M30 {image} No problem with the SL because of law of big number Just want to check if there is anything wrong with the zone which I draw? Hi Gilamonster Do you set SL above your second line for a short trade spread x3 for trading M30 zone?
Nothing wrong with your level, it could have worked. But I would't have taken it. Why? Because I don't see a STRONG price movement. Your level just below is a lot stronger for example, I like it better.
  • #737
  • Nov 20, 2013 7:03am Nov 20, 2013 7:03am
thank you thomaas
It really works now
Attached Image (click to enlarge)
Click to Enlarge Name: usdcadm30.png Size: 31 KB
  • #738
  • Nov 20, 2013 7:10am Nov 20, 2013 7:10am
Quoting duke789
thank you thomaas It really works now {image}
Awesome! I took the same trade :-)
  • #739
  • Nov 20, 2013 7:18am Nov 20, 2013 7:18am
Would you mind letting me know Where do you place Take Profit, Thomaas?
Fixed 1:3?
I'm really confused with how to place exit point.
  • #740
  • Nov 20, 2013 7:31am Nov 20, 2013 7:31am
Quoting duke789
Would you mind letting me know Where do you place Take Profit, Thomaas? Fixed 1:3? I'm really confused with how to place exit point.
Have your read my article on www.21pips.com ? The basic idea is explained there: usually a 1:2 RRR.
But for this trade I'm already out, due to some pivot lines (I'm going to write an article about this on my website really soon)
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