ReadtheMarket - Supply and Demand with Price Action
- #1,203
- Jul 23, 2014 10:17am Jul 23, 2014 10:17am
{image}
Most of the time FO swap works very nicely. But when we fine tune with FL , it doesn't respect it. For example below chart.
You can see if i swap FO zone directly after pole break , it works like a charm. But if i use FL to fine tune and enter, it often fake out the FL.
What is your take on these?. Im asking this because you often take FO engulfed FL as a important one to look for engulf. But when we take the swap, the engulf is no longer engulf now.Apologize if i complicate this.
- #1,204
- Jul 23, 2014 3:46pm Jul 23, 2014 3:46pm
- | Membership Revoked | Joined Nov 2010 | 3,072 Posts
You've spotted something very important there!!
That certainly is one of the target options for price.You'll usually find some FL there, no matter how small, which can turn price.
Ask yourself "Why didn't that FO level get respected on the way down?", and you'll understand its significance on the way back up
That certainly is one of the target options for price.You'll usually find some FL there, no matter how small, which can turn price.
Ask yourself "Why didn't that FO level get respected on the way down?", and you'll understand its significance on the way back up
You've spotted something very important there!! That certainly is one of the target options for price.You'll usually find some FL there, no matter how small, which can turn price. Ask yourself "Why didn't that FO level get respected on the way down?", and you'll understand its significance on the way back up
. i often tell the people , swap is stronger than the normal. To increase win rate , dont take directly demand or supply. wait for it to swap.But as i pointed out in EurAUD, Can you shed some light , why the FL faked out. it happens often in these swap FO zones.
Thanks ya brother
- #1,206
- Jul 23, 2014 10:01pm Jul 23, 2014 10:01pm
- Joined May 2011 | Status: Trader | 1,374 Posts
You've spotted something very important there!! That certainly is one of the target options for price.You'll usually find some FL there, no matter how small, which can turn price. Ask yourself "Why didn't that FO level get respected on the way down?", and you'll understand its significance on the way back up
Nice to see you. I was missing you and Ben. Are you guys visiting my journal ? I want to learn to trade with you.
-milkeyway
- #1,207
- Jul 26, 2014 5:56pm Jul 26, 2014 5:56pm
Hey everyone,
I've been a bystander of this thread for quite sometime. I've been studying quite a bit on RTM. I feel like I am now ready to start joining in here. I was a little afraid at first due to the level of traders in this thread. I'm still far from where I would like to be, but I've decided to finally dive in. So here is my first chart here.
Eurnzd Day
Eurnzd 4hr
I've been a bystander of this thread for quite sometime. I've been studying quite a bit on RTM. I feel like I am now ready to start joining in here. I was a little afraid at first due to the level of traders in this thread. I'm still far from where I would like to be, but I've decided to finally dive in. So here is my first chart here.
Eurnzd Day
Eurnzd 4hr
- #1,212
- Edited Jul 30, 2014 7:50am Jul 29, 2014 11:20pm | Edited Jul 30, 2014 7:50am
One of my group trader that day took this DBD and said it hit his stop loss and turned. His stop loss was just above the zone. I told him truth is in the LTF.Any keen person can guess where the SL should be ?!!..
"HTF HIGH AND LOW WILL APPEAR IN THE LTF. BUT LTF HIGH AND LOW MAY NOT APPEAR IN THE HTF"
THIS IS A TIME FRAME WARNING............!!!!!!!!!!!
"HTF HIGH AND LOW WILL APPEAR IN THE LTF. BUT LTF HIGH AND LOW MAY NOT APPEAR IN THE HTF"
THIS IS A TIME FRAME WARNING............!!!!!!!!!!!
- #1,213
- Jul 30, 2014 7:39am Jul 30, 2014 7:39am
First Pic is 5M timeframe. The rectangle shows price breaking the FL and then how far it retraces thereby forming the new FL. 2nd pic is M30 and you can see that by placing your stop loss above this FL it doesn't get taken out.
- #1,215
- Edited 2:51pm Jul 30, 2014 2:25pm | Edited 2:51pm
- Joined Dec 2006 | Status: Backtest is meaningless (to me) | 2,176 Posts
- #1,217
- Jul 30, 2014 2:34pm Jul 30, 2014 2:34pm
Looks like the entry was correct...time to manage the trade 
Hey everyone, I've been a bystander of this thread for quite sometime. I've been studying quite a bit on RTM. I feel like I am now ready to start joining in here. I was a little afraid at first due to the level of traders in this thread. I'm still far from where I would like to be, but I've decided to finally dive in. So here is my first chart here. Eurnzd Day {image} Eurnzd 4hr {image}
