Supply and demand chess game | Page 16 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Does being a Good Chess Player make you a better FX Trader 59 replies

Iron Pawn's Emini S&D chess game 242 replies

Trading is like (a)chess (b)poker (c)checkers (d)roulette? 52 replies

Attachments: Supply and demand chess game
Exit Attachments

Supply and demand chess game

  • #301
  • Mar 4, 2014 2:48am Mar 4, 2014 2:48am
Quoting danial2537
{quote} Hi Sss 33364 , ( I don't know your name ) If you please go to post 269, you will see the trade set up and explanation. I attached the image again here in this post . {image}
excellent zone Danial, i too have it on my radar. but only concern now is the arrival, which is looking bad as if now.lets see.

hey u can call me SSS,my intials. as i was not getting that login so had to put some unique no.thats it.

also the EUR-USD trade has turned out really good, have booked profit on 1 lot @:-1.37600,
and holding another lot with target @:-1.37960 and stop at break even ,as if now.
Attached Image (click to enlarge)
Click to Enlarge Name: 04-03-2014_EUR-USD_1H.PNG Size: 31 KB
  • #302
  • Mar 4, 2014 5:33am Mar 4, 2014 5:33am
Quoting Sss33364
{quote} excellent zone Danial, i too have it on my radar. but only concern now is the arrival, which is looking bad as if now.lets see. hey u can call me SSS,my intials. as i was not getting that login so had to put some unique no.thats it. also the EUR-USD trade has turned out really good, have booked profit on 1 lot @:-1.37600, and holding another lot with target @:-1.37960 and stop at break even ,as if now. {image}
Hi SSS,

Yes Euro worked beautifully from the first demand zone and I am happy you banked some profit so far ( this the way it should be)

You are right about arrival but to be quit honest I lost my faith to arrival as I have seen many times that arrivals not that great but level worked well. I understand it is a good odds enhancer but I do not have it in my trading plan. Just want to share another chart you might be interested if it meets your criteria and trading plan It is NZD/JPY and we are about to arrive.
Attached Image (click to enlarge)
Click to Enlarge Name: nzdjpym30.png Size: 60 KB
  • #303
  • Mar 4, 2014 6:12am Mar 4, 2014 6:12am
Quoting danial2537
{quote} Hi SSS, Yes Euro worked beautifully from the first demand zone and I am happy you banked some profit so far ( this the way it should be) You are right about arrival but to be quit honest I lost my faith to arrival as I have seen many times that arrivals not that great but level worked well. I understand it is a good odds enhancer but I do not have it in my trading plan. Just want to share another chart you might be interested if it meets your criteria and trading plan It is NZD/JPY and we are about to arrive. {image}
thanks Danial,
still holding 1 more lot, and price is going up, think will achieve my target-2 soon, have moved my trailing stop-loss to @:-1.37450 as if now, so will be in profit anyways , .

I completely agree with u on the Arrival part, i too have seen bad arrival levels work just fine, more-soever in the Forex market,according to what i have seen is even bad arrivals will work,provided the locations are good,so i don't mind taking even bad arrivals at good locations. whats your take on it?.

thanks for the NZD/JYP chart, seems good, but the little congestion b4 the arrival is bothering me.will keep a watch on it, and see what it does.
  • #304
  • Mar 4, 2014 6:22am Mar 4, 2014 6:22am
have a look at almost similar location ,like the chart u gave on NZD/JPY .
this is CAD/JPY chart.
everything seems to be in place as if now, for a nice trade, will watch the arrival
Attached Image (click to enlarge)
Click to Enlarge Name: 04-03-2014_CAD-JPY_30-mins.PNG Size: 46 KB
  • #305
  • Mar 4, 2014 6:38am Mar 4, 2014 6:38am
wow, it is better than mine I guess. I have not seen CAD/JPY. Thanks for sharing and I will definitely consider this level.

Euro worked well for you and you are absolutely safe in this trade so let it go
  • #306
  • Edited 6:57am Mar 4, 2014 6:44am | Edited 6:57am
Nice thread here! Good job

Many XXXJPY are near Supply zones

What do you think about this one?

Eventually should look for the one with better RR and currency strength for best odds.


Attached Image (click to enlarge)
Click to Enlarge Name: usdjpnsz.PNG Size: 29 KB
  • #307
  • Mar 4, 2014 7:00am Mar 4, 2014 7:00am
Quoting Ainur
Nice thread here! Good job Many XXXJPY are near Supply zones What do you think about this one? {image}
Hi Ainur,

Thanks for sharing your chart. Yes in all the JPY crosses we are close to supply similar to USD/ JPY you shared. However something I personally like from CAD/JPY which SSS shared is the width of the zone is almost 20 pips and you will be covered up to H4 time frame supply zone by using this set up. Negative point of my set up ( NZD/JPY) and yours is still we have another supply zone higher at H1 and H4 time frames. we may get stopped out and higher supply zone works unless you put your stop loss above the higher zone ( to me it is to wide)
  • #308
  • Mar 4, 2014 7:25am Mar 4, 2014 7:25am
right Danial and Ainur,
most JPY crosses are at supply, so a good chance to short them, also it may happen that because so many hitting supply simultaneously, some pairs may not hit supply and start coming down as a reaction of most other JPY crosses coming down.
yes Danial i deliberately included the H4 TF also, just to be safe.
Ainur, thank 4 sharing.ur Chart also looks good, but Danial as a valid point added to it, also like i said earlier this pair also as congestion forming near the supply, which is a little worrysome, but chance of it coming down with most other crosses are high,will keep a watch on this pair also
  • #309
  • Mar 4, 2014 9:00pm Mar 4, 2014 9:00pm
missed this trade on CAD/JPY, which i had given earlier,as if now, was out ,so had put in sell limit order, my sell was at @:-92.280 and price did a high of 92.278, so just missed it.
trade seems to be doing good and working in our favour.
Attached Image (click to enlarge)
Click to Enlarge Name: 05-03-2014_CAD-JPY_30-mins.PNG Size: 45 KB
  • #310
  • Mar 5, 2014 2:48am Mar 5, 2014 2:48am
Hello Everyone,

I stopped out in NZD/JPY. Price had some minor bounce from the level however Yen was weaker than I expected. No worries, look for the next trade opportunity
Attached Image (click to enlarge)
Click to Enlarge Name: nzdjpyh11.png Size: 55 KB
  • #311
  • Mar 5, 2014 4:19am Mar 5, 2014 4:19am
Another good example.
EURUSD M5
Attached Image (click to enlarge)
Click to Enlarge Name: lrwnBqg.png Size: 47 KB
  • #312
  • Mar 5, 2014 4:40am Mar 5, 2014 4:40am
What I noticed, same thing is happening over and over again. Simple picking tops. Unfortunately, it goes deeper then that. Both trades on Nzd and Cad were doomed against JPY. Not my intention to patronize anyone but if there is advice then it should go something like this: you must see forest for a trees. Best of luck!

IP
"A handful of patience is worth more than a bushel of brains"
  • #313
  • Mar 5, 2014 4:57am Mar 5, 2014 4:57am
Hi IP,

Good to see you are back,

well, I personally explained here how I trade and whatever comes to my trading plan I will take it. trust me if I knew it is gonna fail still I would take it because NZD/JPY supply was a qualified level according to my trading plan

If there is something wrong in the plan that should be revised after considerable number of trades.

I posted another USD/CHF which failed as well but no worries

I personally post the set up before it take place for discussion and I am hoping to learn new things and another eye sees something which I couldn't saw. I also mentioned that whatever I post here are the trades I am going to take.

I always appreciate any suggestion to improve the trading thought

Cheers,
Danial
Attached Image (click to enlarge)
Click to Enlarge Name: usdchfh11.png Size: 48 KB
  • #314
  • Mar 5, 2014 5:00am Mar 5, 2014 5:00am
Quoting duke789
Another good example. EURUSD M5 {image}
Hi Duke,

Yes it is a good example in shorter time frame.

IP is the boss in this room and he suggest to only post swing trades.

I also appreciate if you post the set ups before taking place for discussion.

Cheers,
Danial
  • #315
  • Mar 5, 2014 5:12am Mar 5, 2014 5:12am
Quoting danial2537
{quote} Hi Duke, Yes it is a good example in shorter time frame. IP is the boss in this room and he suggest to only post swing trades. I also appreciate if you post the set ups before taking place for discussion. Cheers, Danial
Hey danial,

I'm just passing by... Glad to see it is moving on it's own. No, no need to post only swing (that was really not a purpose of this thread). Swings are also made on miniature time frames, right? I do appreciate you posting setups prior to taking them, for sure. Be careful because, in my opinion, you might be more focused on posting it at some forum instead of taking care of your money.
"A handful of patience is worth more than a bushel of brains"
  • #316
  • Mar 5, 2014 12:02pm Mar 5, 2014 12:02pm
hello IP,
ur forum as given us a good place to discuss Supply and Demand. thanks 4 it.

Danial, yep the USD/CHF was a great set-up, Sad it didn't work out.but then you get some and u lose some.better luck on next trade.

On the EUR/USD trade got trailing-stopped out on the second lot at 1.37600 ,same as the first one.price as come back again to our zone 2 more times and it is still working, i didn't take it as it is not fresh anymore.

The CAD/JPY trade gave a around 20 pips, and then shot through the zone.couldn't take this trade also as i didn't get filled in.
Attached Image (click to enlarge)
Click to Enlarge Name: 05-03-2014_EUR-USD_1H.PNG Size: 34 KB
  • #317
  • Mar 6, 2014 3:21am Mar 6, 2014 3:21am
Hi SSS,

Well, sometimes market acts very strange, going to sideways mode in USF/CHF from Tuesday afternoon.

I am not concerned about getting stopped out as hundreds of times we saw that this kind of set up works well. we have no option but being in the trade to get the benefit and of course sometimes doesn't work as we want

I am waiting for the news today and looking at levels which forms after the news (Not during the news time). I think we would be having some trading opportunities in US session.

If I find a good one I will share my chart to discuss about it

Cheers,
Danial
  • #318
  • Mar 9, 2014 2:50pm Mar 9, 2014 2:50pm
Quoting danial2537
Hi SSS, Well, sometimes market acts very strange, going to sideways mode in USF/CHF from Tuesday afternoon. I am not concerned about getting stopped out as hundreds of times we saw that this kind of set up works well. we have no option but being in the trade to get the benefit and of course sometimes doesn't work as we want I am waiting for the news today and looking at levels which forms after the news (Not during the news time). I think we would be having some trading opportunities in US session. If I find a good one I will share my chart to...
yep u right on that one.
just 1 question,but tell me ,why look for levels after news and not during news, well looking at old levels is it possible to tell which are formed during and after the news,well its easy if u keeping a track of some pairs, or the current one's, but if we go back in history, will we be able to distinguish between level. and when we use Supply and Demand we take levels which many have been formed years ago.so definitely, we have no idea whether that level is during or after news.
so i think it doesn't matter whats the cause, as long as u have a good level.at a good location,
well mine and your views might differ, but isn't that the reason why a market works!
  • #319
  • Mar 9, 2014 2:55pm Mar 9, 2014 2:55pm
bought usd/chf at the nice RBR, in a small green now, lets see if my targets are achieved.
Attached Image (click to enlarge)
Click to Enlarge Name: 11-03-2014_USD-CHF_30-mins.PNG Size: 40 KB
  • #320
  • Mar 10, 2014 4:15am Mar 10, 2014 4:15am
Quoting Sss33364
{quote} yep u right on that one. just 1 question,but tell me ,why look for levels after news and not during news, well looking at old levels is it possible to tell which are formed during and after the news,well its easy if u keeping a track of some pairs, or the current one's, but if we go back in history, will we be able to distinguish between level. and when we use Supply and Demand we take levels which many have been formed years ago.so definitely, we have no idea whether that level is during or after news. so i think it doesn't matter whats...
Hello SSS,

From the school I learned supply and demand, they always say that news levels do not represent the origin of imbalance between supply and demand. In some class A news such as NFP you always see a super strong candle created. these types of candles are not the consequence of normal market condition where demand exceeds supply ( demand zone) or supply exceeds demand ( supply zone). These candles forms because of low volume of the market. Always remember at the news time smart money goes out of the market and wait for the out come of the news and then get in the market at the first possibility. Many people think that strong candles at the news time is the result of high volume and lots of orders however simply its not true. In USD-CHF chart which you shared, you can see that level created by such a strong move away didn't work but lower level worked better. In this chart lower level doesn't look a high quality level with a super strong move away but in fact lower level could represent the origin of imbalance and higher level is the result of low volume market.

Back to the discussions how we can identify if a level is news based or not, if we are trading on the levels which created within a week or two, it will not be difficult to find out date and time and go and check if there was any class A news. for older levels it would be difficult little bit. You need to know about historical levels if you want to trade counter trend. There is nothing wrong with counter trend trading but a friendly suggestion would be, even if a historical level looks good, always wait for the price to show some sort of reaction in the level before get in the trade.

Have a great trading week
1 trader viewing now