Supply and Demand Levels

Trading Plan

1. Identify supply and demand levels on the chart
2. Buy at demand, sell at supply
3. Take only the best levels

Instrument: CADJPY M15
Time at entry: 9.29am London (Tuesday)
Comments: 9/10 Drop-Base-Rally demand level (Strong move away from the level; RR Ratio > 1:3; First retracement to the level; Relatively little time spent at the level and a strong arrival back into the level). Minus 1 point because it was a long entry when the bigger picture (Daily) trend was bearish but at least price is not near bigger picture supply.

nice ethlao

Instrument: AUDUSD H1
Time at entry: 12.03pm London (Tuesday)
Comments: 2/10 Drop-Base-Rally demand level (Weak move away from the level; RR Ratio 1:1; Third retracement to the level; Relatively many candles spent at the level and a weak arrival back into the level). Plus 2 points because it was a long entry when the bigger picture (Daily) trend was bullish and price not near bigger picture supply.
Result: -0.9% (21 PIPs)

Instrument: CADJPY M30
Time at entry: 4.48pm London
Comments: 8/10 Drop-Base-Rally demand level ( Strong move away from the level; Initial RR Ratio > 1:3; Trade not in the direction of D1 trend but not near any bigger picture supply level; Second retracement to the level; Relatively little time spent at the level as it was forming and a strong arrival back into the level).
Result: +1.0% (13 PIPs)

8.5 AUDUSD H1 (+0.5%)



Time of entry: 5.30pm London

Strength of the move: 2
Reward/Risk: 2
Big Picture: 1
Retracements/Tests: 2
Time at level: 0.5
Arrival: 1

7 EURCAD M5 (+1.3%)



Time of entry: 1.08pm London

Strength of the move: 1
Reward/Risk: 0
Big picture: 2
Retracements/Tests: 2
Time at level: 1
Arrival:1

News: 1:30pm CAD Core CPI m/m 0.3% 0.3% 0.7%
CAD CPI m/m 0.6% 0.4% 0.8%

9.5 NZDUSD M1 (-0.4%)



Time of entry: 3pm London

Strength of move: 2
Reward/Risk: 2
Big picture: 2
Retracements/Tests: 2
Time at level: 0.5
Arrival: 1

News: 3:00pm USD Philly Fed Manufacturing Index 16.6 9.6 9.0

6.5 AUDUSD M15 (-0.6%)



Time of entry: 12.20pm London

Strength of move: 1
Reward/Risk: 1
Big picture: 1
Retracements/Tests: 2
Time at level: 1
Arrival: 0.5

1:30pm USD Unemployment Claims 304K 316K 302K
3:00pm USD Philly Fed Manufacturing Index 16.6 9.6 9.0

eurcad m5 (-0.9%)

Attached Image (click to enlarge)

audusd h1/m30 (+0.3%)

Attached Image (click to enlarge)

usdjpy m15 (-0.7%)

Attached Image (click to enlarge)

EURUSD +1.0%

hi whats that indi that shows the price where you bought or sold?

The prices where I buy and sell are based on the supply and demand levels I have visually identified on the chart using the rectangle and horizontal lines not indicators. I seem to understand the basics of this strategy but am still inconsistent with it a must adopt a more disciplined approach to my trading, which I hope will come if I work hard at it and keep learning. Also, I've found a problem trading the smaller timeframes due to the spread costs and am changing brokers to improve this situation (even though it's my 1st live acct and have not long since opened it.)

Sorry I'm asking for your indicator, not your trading strategy. The indicator with the dotted line showing where you bought and sold

Oh sorry. That is just the "left price label", "right price label" and a dotted trendline from the MT4 toolbar that I put on myself.