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ReadtheMarket - Supply and Demand with Price Action

  • #1,821
  • Feb 15, 2015 8:57pm Feb 15, 2015 8:57pm
sorry left this one out
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  • #1,822
  • Edited 7:04am Feb 16, 2015 6:33am | Edited 7:04am
Hi 4xjoema, maybe you want to try a watermark to let us know the instrument and TF in your charts.

Here is a link to download the file watermark.lua (http://www.fxcodebase.com/code/download/file.php?id=13193) from this page (http://www.fxcodebase.com/code/viewtopic.php?f=28&t=61403&start=20).
  • #1,823
  • Feb 16, 2015 2:52pm Feb 16, 2015 2:52pm
Quoting 4xjoema
looks to me like there was a reaction there just not much of one. also looking left to see where price has come from what it is reacting to and checking the bigger picture is a good idea {image}
Thanks 4xjoema, alphac and hansma for all your insights/comments. Much appreciated.

There was an M15 demand area to the left that I missed, that was sitting just below the ignored M1 demand level. So when price reached the M15 demand it reversed back up to engulf whatever supply had been created by the ignored M1 demand (ie. M15 demand is stronger than M1 supply).

That answers my original question (why price did not rebound south from the supply created by the engulfing (ie. ignoring) of the M1 demand level at 18:12).

4xjoema - you noted in your message "there is a FTR somewhere inside this red candle". Are you saying that you think there is usually an FTR inside any M1 candle that engulfs a supply/demand zone as in this example?
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only dead fish swim with the stream
  • #1,824
  • Feb 18, 2015 7:15pm Feb 18, 2015 7:15pm
HI ruede, I apologize for delayed response,
it is my understanding that when you have an area ftr or flag like in the chart I posted that if you cant find an FTR after the eng on min 1 time frame it doesn't mean there is not one in a 1 second chart. I believe if has noted this as a hidden hinge so we must look to that whole candle as a possible FTR and for me its best to let these pass you by move on to next trade there is to many nice trades to trade something that cannot be seen, this is simply my opinion I may use it in analysis but not trade from it I hope this makes sense I truly am terrible at explaining things.
  • #1,825
  • Feb 18, 2015 7:47pm Feb 18, 2015 7:47pm
here is a trade I took this morning before leaving for work and why you should always look left. half a sleep I spotted this m30 engulf and it was retracing to source of move looked nice you can see the large gray box is the flag holding up price an FTR created after engulf of a previous swing
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the previous chart just above shows an eng up outta my zone so I kicked myself in the butt for entering the trade before looking left I quickly look left and see where my source or supply in which I was trading from was in the middle of nowhere not a good place to trade from so I followed price down and got out at the circle marked on chart didn't suffer a loss luckily. setting aside emotions and other thoughts while trading is key for me but life is hecktic. chart below is of the area my supply was created and where I wouldn't of traded from if I had checked before hand. the ftr marked is where I would of felt safer if supply was created here
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  • #1,826
  • Feb 18, 2015 7:58pm Feb 18, 2015 7:58pm
this is the zone in which I showed in my previous post very last chart, FTR created in which I would have been happy to trade if my supply was created there. had a nice reaction there shown in this chart which is minute 1 timeframe
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  • #1,827
  • Feb 18, 2015 8:28pm Feb 18, 2015 8:28pm
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  • #1,828
  • Feb 23, 2015 5:42pm Feb 23, 2015 5:42pm
Quoting 4xjoema
HI ruede, I apologize for delayed response, it is my understanding that when you have an area ftr or flag like in the chart I posted that if you cant find an FTR after the eng on min 1 time frame it doesn't mean there is not one in a 1 second chart. I believe if has noted this as a hidden hinge so we must look to that whole candle as a possible FTR and for me its best to let these pass you by move on to next trade there is to many nice trades to trade something that cannot be seen, this is simply my opinion I may use it in analysis but not trade...
Thanks a lot for explaining in detail. Got it!
only dead fish swim with the stream
  • #1,829
  • Edited 10:10pm Feb 24, 2015 9:39pm | Edited 10:10pm
Quoting Fxyogi
NO matter how we say. Chf crash could have wiped out many retailers account even with stop loss. a margin call on all investment and wipe outs might have caused many suicides . But who cares, till the government and law protect these fat bastards, we cant expect to be safe.

How can somebody get a wiped out account even with a SL ? Isn't it there to limit losses depending on how much the trader is willing to risk as a % of his account?
Just asking because i am a novice trader and not good in this materia.
Not that i defend the Swiss bank for what they did, it is pathetic.
  • #1,830
  • Feb 25, 2015 1:27am Feb 25, 2015 1:27am
Quoting savoy
{quote} How can somebody get a wiped out account even with a SL ? Isn't it there to limit losses depending on how much the trader is willing to risk as a % of his account? Just asking because i am a novice trader and not good in this materia. Not that i defend the Swiss bank for what they did, it is pathetic.

Sorry, but there are several circumstances that a SL could be passed away and your losses are unlimited or at least until can be closed at last price traded.

Normally at MT4 there are risk control system measures that TRY protect traders account about his margin account, but really YOU are totally responsible about losses if price goes away your SL.

Read well your trading contract..
"Let us strive to be more parents of our destiny than children of our past"
  • #1,831
  • Feb 25, 2015 6:25am Feb 25, 2015 6:25am
Quoting savoy
{quote} How can somebody get a wiped out account even with a SL ? Isn't it there to limit losses depending on how much the trader is willing to risk as a % of his account? Just asking because i am a novice trader and not good in this materia. Not that i defend the Swiss bank for what they did, it is pathetic.
Good question.

Stop loss is a market order. Therefore when your stop loss gets executed, you are activating a market order which needs the other side to be filled. In this case there was no other side, or other side was hundrads of pips lower. Slippage of several hundrad of pips can wipe out your account and bring your account below your account balance.
  • #1,832
  • Feb 27, 2015 4:15am Feb 27, 2015 4:15am
Just posted this over at RTM, but thought it might be worth doubling up in hopes of getting some insights:

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In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #1,833
  • Feb 27, 2015 6:20am Feb 27, 2015 6:20am
And here is another in the same style, although it is a little cleaner to look at.

Basically, I'm trying to apply the concept of breaking flag limits, seemingly in the same style as FXYogi. Maybe he can chip in with some advice.

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In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #1,834
  • Feb 27, 2015 9:25am Feb 27, 2015 9:25am
Quoting By_Tor2114
And here is another in the same style, although it is a little cleaner to look at. Basically, I'm trying to apply the concept of breaking flag limits, seemingly in the same style as FXYogi. Maybe he can chip in with some advice. {image}
Hi Tor,

What program do you use to draw your comment and rectangles with ??

Hope you can help.

Thanks
Hans
"The future is already written in the past"
  • #1,835
  • Feb 27, 2015 9:31am Feb 27, 2015 9:31am
The blue and pink boxes are just a rectangle extender indicator that I use. I'll attach it here for you. As for the rest of the comment boxes and arrows etc, that's a program called Snagit.
Attached File(s)
File Type: ex4 SD_Rectangle_v1.1_Light.ex4   9 KB | 632 downloads
In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #1,836
  • Feb 27, 2015 9:35am Feb 27, 2015 9:35am
Quoting By_Tor2114
The blue and pink boxes are just a rectangle extender indicator that I use. I'll attach it here for you. As for the rest of the comment boxes and arrows etc, that's a program called Snagit. {file}
Thanks Tor.

I appreciate it.

Have a nice weekend mate.

Regards,

Hans
"The future is already written in the past"
  • #1,837
  • Mar 17, 2015 7:01am Mar 17, 2015 7:01am
USDCAD

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  • #1,838
  • Mar 19, 2015 12:20am Mar 19, 2015 12:20am
Quoting Michal238
USDCAD {image}
There is no such thing as fakeout.
  • #1,839
  • Mar 19, 2015 1:44am Mar 19, 2015 1:44am
Quoting Mong00se
{quote} There is no such thing as fakeout.
this is something new could you expand?
  • #1,840
  • Mar 19, 2015 7:55am Mar 19, 2015 7:55am
Quoting vladutz112
{quote} this is something new could you expand?
Nobody is trying to fake you out. Price is moving between clusters of orders back and forth. But you need to come to this conclusion yourself. And that is achieved by many hours of chart analysis.
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