Supply and demand in a nutshell by Alfonso Moreno | Page 239 | Forex Factory

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Supply and demand in a nutshell by Alfonso Moreno

  • #4,761
  • Sep 21, 2014 7:32am Sep 21, 2014 7:32am
Dear Alfonso,

first of all I have to say (like dozens and dozens of other people) that what you are doing in this thread and in the private community is a great thing !
Thank you, I admire your patience and way to repeat and repeat from the basics up to the details of the rules.
You are a good teacher (and very few people are that).

I follow with interest all your webinars (offline, recorded, because during you make them I am at work).
I also stop the video when you "announce" what next pair are you going to analyse, I do there my own analysis before, then restart the video and check what I did!
It helps to learn and I love that.

I have a question of the very basic rules, which is somehow still unclear to me.
I probably do not remember the related post in this thread, so sorry if this is the case.

It concerns the BASING CANDLES.
As far as I know, a basing candle is a candle whose body is smaller than 50% of the total OHLC distance, is that correct ?
But I see that you sometimes consider a base also when the candle body is bigger than that.
Or also you do not consider a candle with less than 50% as level .
I attach here below 3 pictures of the last webinar, for better explaining my question.

Perhaps part of the rules is that a "basing pattern" (Engulfing candles or similar) excludes the need of being less than 50% ?
This information would help me to better mechanical draw the Levels.

I hope that you or anybody else with this information could let me know.

Many thanks.
Regards

Andrea
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Base1.jpg Size: 109 KB
Click to Enlarge Name: BEP.jpg Size: 148 KB
Click to Enlarge Name: Level.jpg Size: 154 KB
  • #4,762
  • Sep 21, 2014 3:14pm Sep 21, 2014 3:14pm
Quoting Whenever
Dear Alfonso, first of all I have to say (like dozens and dozens of other people) that what you are doing in this thread and in the private community is a great thing ! Thank you, I admire your patience and way to repeat and repeat from the basics up to the details of the rules. As far as I know, a basing candle is a candle whose body is smaller than 50% of the total OHLC distance, is that correct ? But I see that you sometimes consider a base also when the candle body is bigger than that. Or also you do not consider a candle with less than 50%...
Dear Andrea,

Thanks for your kind message, doing my best to try and help others, but it's each of you that has to do your homework for months to test the rules and create the patterns, habits and beliefs.

Regarding the basing candle, it's exactly as you said a candle whose body is smaller than 50% of the total OHLC range... but... there are times where a 50% candle is not needed in order to have a basing candle, and that's a marubozu candle (CPs have that candle often), it's described in the first post.

Quote
Marubozu candles on CP patterns. Marubozu candles are very common on CP patterns. Not all zones have to have a 50% candle on it, there are great CPs with non 50% marubozu candles. Also those CPs with no basing candle that caused the break of an important zone are high odds
Hope that makes sense and solves your doubt. There is a clear example of that on the chart you attached.
Alfonso
Set and Forget supply and demand trading community
  • #4,763
  • Sep 21, 2014 3:26pm Sep 21, 2014 3:26pm
thanks a lot Alfonso.
That makes surely sense.
It is what I thought too (hence The picture), Just wanted your confirmation.
I will add this to the learned rules.
Please keep your fantastic work!
Muchas Gracias!
  • #4,764
  • Sep 22, 2014 4:54am Sep 22, 2014 4:54am
How to get big impact forex news notifications on your mobile. How to use MyFxBook platform to get notifcations

Hello fellow trader,

You may have wondered how you could get email/mobile notifications on high impact news. You may be caught trying to trade against a big news event like FOMC, NFP or interest rates for a specific country.

There is a way to do it, I guess there are more, but I wanted to share one you could use so you will be notified X minutes or hours ahead of time. It will help you to make a decision if you are about to enter a trade, stay on a position and hold it, or close it fully or partially if you think your hard earned pips might be in danger.

Forex Factory is got a great news section but it has no notification at all AND it has no news for secondary markets or exotic pairs. It has no option for SEK, NOK, DKK, etc.

Steps to follow:

  1. Sign up at www.myfxbook.com
  2. Locate the Economic Calendar: http://www.myfxbook.com/forex-economic-calendar
  3. You will find a little bell icon on the right and some filters, press on those bells that correspond to the news events you want to get notifications from

Remember: you will need to stay logged in MyFxBook in order to get the notifications, it's crazy, but it works like that. Maybe they fixed that already or they will in the future. This can be solved by installed the Android APP on your mobile, you will get informed instantly on those news through push messages.

The small video below explains how to filter the news events, how to configure it to get notifications and what the notifications looks like on your email. If you have your mobile configured to read your emails, the notification instantly.

Watch the video here:

Inserted Video


Cheers,
Alfonso
www.set-and-forget.com
Set and Forget supply and demand trading community
  • #4,765
  • Sep 22, 2014 7:55pm Sep 22, 2014 7:55pm
Hi Alfonso and All,

I created an indicator to have the time frames from H1-MN changed from the keyboard 1 - 5 keys.
Also the rectangle tool we can select with the Control Key.

You can change the keys if you like.

BR to all
Attached File(s)
File Type: mq4 Utils.mq4   3 KB | 599 downloads
  • #4,766
  • Sep 23, 2014 1:27am Sep 23, 2014 1:27am
Quoting shatz
Hi Alfonso and All, I created an indicator to have the time frames from H1-MN changed from the keyboard 1 - 5 keys. Also the rectangle tool we can select with the Control Key. You can change the keys if you like. BR to all {file}
Hello my friend!
Thanks a lot for your indicator and contribution. It's funny because a couple of days ago a member of the community created an external application that would allow us to have the rectangle tool selected with SHIFT+CONTROL (control only is used for many combinations). Also it would allow us to switch timeframes from MN to H1, MN =1, WK= 2, down to H1 = 5.

Would it be possible to change that in the indicator? Could you please contact me by using the contact form at set-and-forget.com? I would like to ask you something, I can't contact users here because Forex Factory does not allow me to do so.

Thanks a lot!
Alfonso
Set and Forget supply and demand trading community
  • #4,767
  • Edited 6:48am Sep 23, 2014 4:31am | Edited 6:48am
Hi Alfonso,

MN ->Key 1
W1 ->Key 2
D1 -> Key 3
H4 -> Key 4
H1 -> Key 5
Rectangle -> Keys Control + Shift
Zoom In -> Key Q
Zoom Out ->Key W
Zoom Fit to E (you have to have scale fix enabled) This is a nice one

so all the keys are near. (Habit from Starcraft )

For the indicator you have to have Allow DLL Imports enabled

You can edit the mq4 anyway and set it to whatever fits you best

Hope this helps
BR
Attached File(s)
File Type: mq4 Utils.mq4   4 KB | 913 downloads
  • #4,768
  • Sep 23, 2014 7:15am Sep 23, 2014 7:15am
[quote=panoramia;6689451]SUPPLY AND DEMAND FOREX TRADING IN A NUTSHELL Set it and forget it! Last updated: 5th September 2014 PLEASE TAKE THE TIME TO GO THROUGH THIS ENTIRE FIRST POST PATIENTLY AND WITH NO HURRIES; PATIENCE IS KEY. I KNOW THIS POST IS LONG

Alfonso Incredible update and extensive information, every success as always D
  • #4,769
  • Sep 23, 2014 8:32am Sep 23, 2014 8:32am
Quoting shatz
Hi Alfonso, MN ->Key 1 W1 ->Key 2 D1 -> Key 3 H4 -> Key 4 H1 -> Key 5 Rectangle -> Keys Control + Shift Zoom In -> Key Q Zoom Out ->Key W Zoom Fit to E (you have to have scale fix enabled) This is a nice one so all the keys are near. (Habit from Starcraft ) For the indicator you have to have Allow DLL Imports enabled You can edit the mq4 anyway and set it to whatever fits you best Hope this helps BR {file}
SO MANY PROPS! Thank you so much for sharing that! As a fellow gamer I love having the keys be near.
  • #4,770
  • Sep 25, 2014 2:08am Sep 25, 2014 2:08am
I wanted to share with you a long trade on GBP/NOK.

The thing I'm wondering about the GBP/NOK trade is: why D1 CP demand is holding if there were so great news for the NOK with its central bank decision last week? Maybe it will drop lower but why? To me the answer is that there are more buyers than sellers, demand exceeds supply.

The bottom level is even greater, similar to EUR/NOK.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 447 KB


But I had a loss on D1 CP DZ on EUR/NOK cross pair, due maybe to the fact that EURO is week but GBP is strong, so correlation is better to go long with GBP/NOK. Rules allowed me to take a trade, a loss? Who cares! Next one!

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 42 KB
Set and Forget supply and demand trading community
  • #4,771
  • Sep 25, 2014 2:11am Sep 25, 2014 2:11am
Potential longs could be happening on GBP/NZD. NZD is very week, shorting NZD is the way to go, check NZDUSD, NZDCAD, etc.

GBP/NZD broke higher, potential zones being created. WK is up and D1 is up, MN CP DZ in control.

D1 is up, no single D1 pullback since it rallied from lower. Potential zones to go long. Price is not over-extended because the top second DZ is not a CP, bullish candle broke lower and opened underneath the low. Even if it were, it's been the level that removed WK SZ (supply zone) and all TFs are up.

Brand new potential D1 engulf at the break spot.

GBP is strong, NZD is weak = Double correlation keep on going long

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 301 KB
Set and Forget supply and demand trading community
  • #4,772
  • Sep 27, 2014 2:18am Sep 27, 2014 2:18am
Hi Alfonso, just wanted to say thanks for all the hard work you've put into this. I found your thread about a month or so ago and have slowly been working my way through it. I've noticed that quite a few of the videos you posted several pages into the thread have either been taken private or have a copyright claim from Online Trading Academy. Are those videos essential to learning more details about your rule set, or is all the information from those videos contained in the first post? I personally find it a little ridiculous that Online Trading Academy has somehow managed to copyright an idea or method of trading. Anyways, I love this way of trading. I'm just having a little difficulty putting all the pieces together. For example, you say "don't diddle in the middle." Is that your way of saying to only take trades at higher level supply or demand? So for example, you would only take H4 levels within a weekly supply/demand zone? Thanks.
  • #4,773
  • Sep 28, 2014 6:14am Sep 28, 2014 6:14am
Excellent thread. Invaluable information shared here. Thank you Alphonso.
  • #4,774
  • Sep 29, 2014 6:00am Sep 29, 2014 6:00am
Quoting Worthy
Hi Alfonso, just wanted to say thanks for all the hard work you've put into this. I found your thread about a month or so ago and have slowly been working my way through it. I've noticed that quite a few of the videos you posted several pages into the thread have either been taken private or have a copyright claim from Online Trading Academy. Are those videos essential to learning more details about your rule set, or is all the information from those videos contained in the first post? I personally find it a little ridiculous that Online Trading...
Thanks for your kind words and compliments, doing my best, it's not been an easy journey. Those videos that are no longer available were removed by the reasons you explained, it was a year ago, that was one of the first reasons to create a private community in the first place, some of those videos were explanations on how my indicator worked, but that's past, we have to live the present.

Regarding diddle in the middle, what I am referring to is a level which is in the middle of 2 opposing levels, that's not high odds, it will depend on the bigger picture. Lots of variables to take into account, this is why I always encourage the only way I know of to improve anybody's trading: TESTING for months and months! We have the right tools for that, Forex Tester (it's also the way to go if you don't trade forex, because supply and demand works on all instruments). Whatever you test on Forex is valid for equities, stocks, indexes, commodities, etc. In fact I know a few traders from India that can't trade forex who are using Forex Tester to gain confidence in the rules.

Hope that makes sense my friend!
Alfonso
Set and Forget supply and demand trading community
  • #4,775
  • Sep 29, 2014 6:00am Sep 29, 2014 6:00am
Quoting forexnetworth
Excellent thread. Invaluable information shared here. Thank you Alphonso.
You are welcome my friend, you are welcome. Glad you found the information that useful!

Thanks a lot!
Alfonso
Set and Forget supply and demand trading community
  • #4,776
  • Sep 29, 2014 6:57pm Sep 29, 2014 6:57pm
Quoting panoramia
{quote} Thanks for your kind words and compliments, doing my best, it's not been an easy journey. Those videos that are no longer available were removed by the reasons you explained, it was a year ago, that was one of the first reasons to create a private community in the first place, some of those videos were explanations on how my indicator worked, but that's past, we have to live the present. Regarding diddle in the middle, what I am referring to is a level which is in the middle of 2 opposing levels, that's not high odds, it will depend on the...
Thank you for the reply. I really appreciate it and all the work you've put in to teaching this method. I've spent nearly three years trying to find a method that fits my personality and when I found this quality explanation of supply and demand trading, it was like a lightbulb went off. Overall, there is very little information about proper supply and demand trading on the web. I was even considering taking the OTA course. Somehow I stumbled upon your thread and it's the best thing that's happened in my trading career thus far. I purchased Forex Tester 2 shortly after finding your thread. It has been of great help.

Your reply to my question was very clear. I realized that's what you probably meant after thinking about it for a while and going back over your videos and first post. Your videos are great and very helpful. I'm sure I will have many more questions as time goes on. Thanks again for taking time out of your busy schedule to answer my question.
  • #4,777
  • Sep 29, 2014 8:54pm Sep 29, 2014 8:54pm
Hi girls and guys,
I find it interesting when fib levels of different time frames / zigzags / impulse legs meet supply and demand levels.
Any experience with it?
It is just a tiny example from a 15 minutes chart... just seeds for thought.. (this automatic indi on the right is kordynamicfibonacci , just un-dusted it from the old times)
http://www.mql5.com/en/charts/242619...-alpari-uk-ltd
https://charts.mql5.com/5/817/audusd...i-uk-ltd-5.png
And for any chance to get any feedback about any pros and cons? Of course it can be drawn manually as well, either by going through different time frames or zooming out just one where one is looking. But anyway, please comment how these fibonacci confluences you think could help!
Tnx!
  • #4,778
  • Sep 30, 2014 5:20pm Sep 30, 2014 5:20pm
hello guys...

this wednesday morning i want to share my analysis practice with all of you before i go to work. here is my practice in AUDUSD

Monthly
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD_MN_011014.png Size: 76 KB


on monthly supply in control... and getting close to demand area.

Weekly
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD_WK_011014.png Size: 72 KB


on weekly the price touched last demand area and looks like going to be pullback.
I will waiting to NFP news and I used the pending order to put my trade on AUDUSD.
what do you say guys...??? please feel free to comment my analysis, I'm sure your comment will help me in learning S&D.

Regards
sonigl
  • #4,779
  • Sep 30, 2014 6:33pm Sep 30, 2014 6:33pm
Quoting lobogabor
Hi girls and guys, I find it interesting when fib levels of different time frames / zigzags / impulse legs meet supply and demand levels. Any experience with it? It is just a tiny example from a 15 minutes chart... just seeds for thought.. (this automatic indi on the right is kordynamicfibonacci , just un-dusted it from the old times) http://www.mql5.com/en/charts/242619...-alpari-uk-ltd {image} And for any chance to get any feedback about any pros and cons? Of course it can be drawn manually as well, either by going through...
Hello my friend!

You know we don't allow M15 TFs on the thread, no fibonacci, no indicators except those that are allowed. The strategy works the way it's, new things should be added/tested by traders by themselves and not posted in this thread. Could you please remove your post?

Alfonso
Set and Forget supply and demand trading community
  • #4,780
  • Edited 7:56pm Sep 30, 2014 7:44pm | Edited 7:56pm
Quoting panoramia
{quote} Hello my friend! You know we don't allow M15 TFs on the thread, no fibonacci, no indicators except those that are allowed. The strategy works the way it's, new things should be added/tested by traders by themselves and not posted in this thread. Could you please remove your post? Alfonso
I am upset with the approach, have the same for HTF, all these can be done manually the same way, so dunno what the real issue is, and of course testing continuously as recommended on page No.1., but understood - trade like a robot, really stick to one thing what works, if not, you can restart your carrier from the beginning - I guess, so OK.
I hope I managed clean it up right, if not I try again lol .
Your page is yours, sorry for bothering! Good luck!
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