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  • #81
  • Edited 6:01pm Feb 6, 2014 3:17pm | Edited 6:01pm
Hello Winston

you are marking wicks like in your post #2 and some others?... and sometimes there is no engulfing candle just large candle?

You are using precedings candles of large candle to find supply/demand?

I see the pattern how you draw the lines but it is different then let say sam seiden's system in terms of location of supply/demand levels.

Do you mind to explain logic /reasons of location of your supply/demand levels, please?
The Market pays you to be disciplined
  • #82
  • Feb 6, 2014 3:36pm Feb 6, 2014 3:36pm
USDCAD

please comment...am I correct?
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The Market pays you to be disciplined
  • #83
  • Feb 6, 2014 9:26pm Feb 6, 2014 9:26pm
Quoting mima
Hello Winston you are marking wicks like in your post #2 and some others?... and sometimes there is no engulfing candle just large candle? You are using precedings candles of large candle to find supply/demand? I see the pattern how you draw the lines but it is different then let say sam seiden's system in terms of location of supply/demand levels. Do you mind to explain logic /reasons of location of your supply/demand levels, please?
Hello Mima,
First of all I don't necessarily subscribe to the supply/demand mantra and ideology that has become so popular. Neither do I follow Sam Seiden or any other supply/demand guru/s. I have merely noticed that places where price moves away rapidly (large engulfing candles) from consolidation/ranging or meager PA tends to produce a significant reaction when price comes back to the same area at a later date. I look for engulfing bounces from these areas. These won't be as dramatic and I will look for them on H1 and H4 time frames. Hope that helps some.
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  • #84
  • Feb 6, 2014 9:33pm Feb 6, 2014 9:33pm
Quoting mima
USDCAD please comment...am I correct? {image}
This is my USDCAD chart. Weekly is uptrending strongly so I am only interested in bounces from support. I'm looking at really obvious areas where price has dramiatically moved away from. The large engulfing candle at right is pretty obvious. Anything else on this chart just doesn't compare.
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  • #85
  • Edited 10:34pm Feb 6, 2014 10:02pm | Edited 10:34pm
I realize this style of trading is similar to supply/demand style trading. IMHO Redsword11 is the ultimate guru for this method of trading. His thread "Price is Everything" is a must read for anyone desiring to trade that methodology.
  • #86
  • Feb 6, 2014 11:39pm Feb 6, 2014 11:39pm
Quoting Winston Reed
{quote} Hello Mima, First of all I don't necessarily subscribe to the supply/demand mantra and ideology ...
Thank you for reply...I just ask to help me to understand why you draw line where you draw...Whatever is, price will drop from supply and rally at demand...Where I would consider demand( bottom wicks) you draw it as supply...opposite is for demand ( Where I would consider supply ( top wicks) you draw it as demand.

​So I just ask for reason/logic behind it.
The Market pays you to be disciplined
  • #87
  • Feb 7, 2014 7:27am Feb 7, 2014 7:27am
Quoting mima
{quote} Thank you. So on this chart gray lines are buyers/demand...or engulfed sellers?
Yes. Nice to have you visiting mima!
  • #88
  • Feb 7, 2014 7:28am Feb 7, 2014 7:28am
I'm unlikely to trade today given it is NFP friday. Also I'm happy with the 1.6% return this week and want to keep it that way. I'll be looking at charts and posting setups as I see 'em. Happy weekend everybody!
  • #89
  • Feb 7, 2014 12:23pm Feb 7, 2014 12:23pm
Good evening ... I am Brazilian business ... Forex H4-time, read all the content ... and spend autilizar ... thank you.
  • #90
  • Feb 7, 2014 12:43pm Feb 7, 2014 12:43pm
Quoting Robinho
Good evening ... I am Brazilian business ... Forex H4-time, read all the content ... and spend autilizar ... thank you.
I'm sorry. Can you explain further the purpose of your post?
  • #91
  • Feb 7, 2014 12:47pm Feb 7, 2014 12:47pm
Quoting mima
{quote} Winston don't go away yet. Yes? Those are buyers in gray zone and sellers are gone anyway? If so I can join the club. let me know if I am wrong in interpretation, please.
Hello Mima. I'm away from my charts. Honestly today is a risky day to trade and I'm out until next week. Please read the PDF carefully. I think it really explains well. My journal also has some nice charts. Have a good weekend.
  • #92
  • Feb 7, 2014 1:01pm Feb 7, 2014 1:01pm
Quoting Winston Reed
{quote} I'm sorry. Can you explain further the purpose of your post?
I just want to thank you for the initiative to pass an effective method for all .... THANK YOU!
  • #93
  • Feb 7, 2014 4:53pm Feb 7, 2014 4:53pm
Quoting mima
{quote} Winston, I read document a few times ...I did not find answer there...because you did not give any explanation...In post I just ask you if my interpretation of gray zone is good enough...but .. To draw zones based on your charts is not enough ...I, and some others, want to know your interpretation of gray zone...It is not just S/R.... If you are not willing to say I am not going to bother you anymore on this or any other subject in your thread.
I wish you well Mima on your trading journey.
  • #94
  • Feb 7, 2014 7:01pm Feb 7, 2014 7:01pm
Winston Red .. you leave pending orders? or follows the market all week? Grateful for the attention.
  • #95
  • Feb 7, 2014 7:05pm Feb 7, 2014 7:05pm
Quoting Robinho
Winston Red .. you leave pending orders? or follows the market all week? Grateful for the attention.
I use pending orders for the short term but I do not place them at s/r levels assuming I will get a bounce (touch trading). I like to see price hit s/r and engulf away from the s/r then I may place a pending order at the low/high of the bouncing engulf. Otherwise I check my charts every 4 hours.
  • #96
  • Feb 7, 2014 7:26pm Feb 7, 2014 7:26pm
Thank you ... I also accompany the 04 in 04 hours ... what do you think of leaving pending orders ... low anaterior the week (SELL STOP) ... the high of the previous week (BUY STOP) .. . would like your opinion. grateful
  • #97
  • Feb 8, 2014 12:02am Feb 8, 2014 12:02am
Quoting Robinho
Thank you ... I also accompany the 04 in 04 hours ... what do you think of leaving pending orders ... low anaterior the week (SELL STOP) ... the high of the previous week (BUY STOP) .. . would like your opinion. grateful
Pending orders are contrary to this method. My previous post and the PDF are pretty clear about this.
  • #98
  • Feb 8, 2014 4:52am Feb 8, 2014 4:52am
Hi Winston,

Here's what I'm looking at on AUD/USD
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  • #99
  • Feb 8, 2014 9:42am Feb 8, 2014 9:42am
Quoting stevepatt
Hi Winston, Here's what I'm looking at on AUD/USD {image} {image} {image}
Hey Steve,
Happy Saturday man!!!
This is my AUDUSD weekly chart. There are Lower Highs and Lower Lows so overall BIG weekly trend is down. Doesn't mean that one couldn't look for longs if things line up. But personally I won't be looking for buys until a weekly candle closes above the yellow box. This could be a weekly retracement. A resumption of the down trend could resume as price moves higher and finds willing sellers.
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  • #100
  • Feb 8, 2014 12:37pm Feb 8, 2014 12:37pm
DAily and H4 showing sell area. When price gets there we want to see an H4 engulf south to signal a sell. A pending sell here is a leap of faith IMHO so I like to see confirmation.
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