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Price Will Tell - Supply/Demand Price Action Trading

  • #221
  • Mar 13, 2015 1:40am Mar 13, 2015 1:40am
Quoting reldas
Hi Simond2002 Thank you so much for starting this thread.For me it is the best thread ever on FF. I have done the course on Forex with the guys in OTA and had the good fortune to do a couple of days with Sam Seiden. The beauty of this thread is to just get on it evey day and observe ,refresh ones ideas and actually easily share as well (once I figure how to put a chart onto FF!) I trade the /$ ,/$, /Y, /Y and now added oil and gold.Mostly now working on the 30 min TF going to 15 or 5 for entry then return to 30. I use stochastic as suggested by...
He reldas,

Great to have you along. Looking forward to your charts.

Re attaching images, please see below.

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  • #222
  • Mar 13, 2015 1:41am Mar 13, 2015 1:41am
Quoting reldas
Hi Simond2002 Thank you so much for starting this thread.For me it is the best thread ever on FF. I have done the course on Forex with the guys in OTA and had the good fortune to do a couple of days with Sam Seiden. The beauty of this thread is to just get on it evey day and observe ,refresh ones ideas and actually easily share as well (once I figure how to put a chart onto FF!) I trade the /$ ,/$, /Y, /Y and now added oil and gold.Mostly now working on the 30 min TF going to 15 or 5 for entry then return to 30. I use stochastic as suggested by...
Hi reldas, it is even possibly to drag the image right into the textbox. This will upload it without much effort. Regards.
Fix up, trade sharp ...
  • #223
  • Mar 13, 2015 2:13am Mar 13, 2015 2:13am
Hi Simmond and Hickson
Many thanks for the information Will sort one out as and when it is worth putting on (win or costLOL) Curretly watching cable
Happy trading
  • #224
  • Mar 13, 2015 2:20am Mar 13, 2015 2:20am
Quoting reldas
Hi Simmond and Hickson Many thanks for the information Will sort one out as and when it is worth putting on (win or costLOL) Curretly watching cable Happy trading
You are welcome mate.
Fix up, trade sharp ...
  • #225
  • Mar 13, 2015 2:25am Mar 13, 2015 2:25am
A trade I wasn't able to get in on with a limit order, but still managed to get a few via entering on a market order. I'll also show a losing trade I just took.

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GU has since fallen like a rock, but you just never know!

And then the loser I took on EJ.

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There's an important lesson to go with this EJ trade. While it ended as a loss, I saw two setups yesterday that were almost the same. One I didn't go in on, and the other I closed too soon. So when you get one that doesn't work, do you sit for hours mulling over it, trying to figure out where you went wrong, or do you just accept that the setup was valid, only the odds weren't with you on this one?
In boxing, all the champion's results are visible. In forex, talk is cheap.
  • #226
  • Mar 13, 2015 3:11am Mar 13, 2015 3:11am
GBPJPY H1

H1 Sellers have now shown their hand. There's a few options, there could be more, but these are the first that spring to mind.

Attached Image
  • #227
  • Mar 13, 2015 3:36am Mar 13, 2015 3:36am
The joys of trading! Another demand level a bit lower I think. My Mas suggest down trend but bounce of demand maybe I look at $ Index here for a clue Time of day may have to wait for US open Who knows as you say price will tell.My chart set up here I hope as an attachment can you open it I am working from a Mac I hope that it shows up as pdf
Attached File(s)
File Type: pdf Reldas chart set up.pdf   206 KB | 515 downloads
  • #228
  • Mar 13, 2015 3:41am Mar 13, 2015 3:41am
Quoting reldas
The joys of trading! Another demand level a bit lower I think. My Mas suggest down trend but bounce of demand maybe I look at $ Index here for a clue Time of day may have to wait for US open Who knows as you say price will tell.My chart set up here I hope as an attachment can you open it I am working from a Mac I hope that it shows up as pdf {image}
Hi reldas,

It's going to be much easier for others if you can insert the image into the body of your post.

In MT4 ->

File -> Save As Picture...

You can then upload the picture/image as per Hickson's or my previous instructions.

Cheers
  • #229
  • Mar 13, 2015 3:44am Mar 13, 2015 3:44am
Hi Simond2002, many thanks for help will try that. Sorry to be a bit thick LOL
  • #230
  • Mar 13, 2015 4:00am Mar 13, 2015 4:00am
Hi Simond2002, many thanks for help will try that. Sorry to be a bit thick LOL
Just tried that route and unfortunately because MT4 is loaded onto a Mac it has to go through in my case Wine so just died and it conflicts and crashes things so not possible that route.
I will have to check out another way with my Mac geek friend.I will be changing over to parallels soon so then it will work as a windows independently. With the pdf you only have to click it and it works fine,however will pursue your suggestion Many thanks
Attached File(s)
File Type: pdf Reldas chart set up.pdf   206 KB | 721 downloads
  • #231
  • Mar 13, 2015 4:16am Mar 13, 2015 4:16am
Quoting reldas
Hi Simond2002, many thanks for help will try that. Sorry to be a bit thick LOL Just tried that route and unfortunately because MT4 is loaded onto a Mac it has to go through in my case Wine so just died and it conflicts and crashes things so not possible that route. I will have to check out another way with my Mac geek friend.I will be changing over to parallels soon so then it will work as a windows independently. With the pdf you only have to click it and it works fine,however will pursue your suggestion Many thanks {image}
reldas, I use a Mac.

cmd + shift + 3 will grab a screen shot for you.

Open the screenshot in "Preview".

Use the cursor to select the area of the sreen you wish to upload

cmd + K to crop it

save it

upload that chart,

cheers
  • #232
  • Mar 13, 2015 4:28am Mar 13, 2015 4:28am
Hello Simod2002 and other fellows traders,
I like the way you see and approach the market, I do in a similar way.
So I suscribed!
I going to send some charts hopping to collaborate
Regards!
  • #233
  • Mar 13, 2015 6:16am Mar 13, 2015 6:16am
Quoting simond2002
{quote} Hi mellyfx, All good my side thanks, hope you are too. In this particular example the market took the decision to break down and through the demand zone created on or around 10th March that we'd marked out. There's a bearish engulfing candle (some traders would call it an "Outside Bar") that formed part of the structure that carried out the move. These types of market structure are not always this clear, which is why it was a nice chart to post. Simon
thanks for the explanation
  • #234
  • Edited 7:43am Mar 13, 2015 6:53am | Edited 7:43am
Hello everyone,

In light of what Red is famous for saying traders helping traders, I am going to post a few ideas open for discussion. I hope I am not intruding here, but I have found your thread to be quite friendly as opposed to all the other ones that are bound to some sort of secrecy vow.

I am aware of all the different schools of S/D and S/R trading with all the different terminologies as discussed by the members here. However, in my quest over the years, I have always found that most techniques lack simplicity. So I went back to basics

Every trend is made of higher highs/higher lows and lower highs/lower lows. Took this onto a line chart first as this is the simplest form of price. What I discovered to be most important is the first breach of one of the sequences mentioned above. Taking for example a downtrend we get two options where change occurs:
1- LH-LL-LH-LL-HH-HL
2- LH-LL-LH-LL-HL-HH
From that two important points immerged. The first is the ignored Lower High and the second the source of that breach.
Taking that back into candles, Swings, RBD & DBR and everything in between, I came to finally conclude that the following points are crucial in potential areas of supply and demand:
(a) The high responsible for printing the lowest low (usually the candle preceding the one with the lowest low)
(b) The candle that has the lowest high (just before the sequence of high and lows changes)
(c) The candle that sourced out the demand and broke (b).

Now it can be argued that the high at (d) is the one that printed the lowest low. In my experience it is sometimes not very obvious to know what came first, whether the high or low (especially in lower TFs). But what we know for certain is the high of the previous candle surely came first i.e (a)

The above is also applicable to swing highs/lows if you prefer trading bigger price structures.
It is also important to choose zones that have proven themselves as good potential candidates, those that have taken out previous areas of supply (or engulfed areas as some like to coin them).

It is worth mentioning that we often can see new decisions around such areas such as flag limits. An example is the dashed horizontal line.

At the top of the chart I added another example.
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Also youll see an example of a line chart and its corresponding candle stick chart.
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I hope this will help at least someone in this journey.

Cheers

PS: I forgot to mention, that I wait for a reaction at the points of interest in the direction I want to trade. I then place a PO.
I'll post some examples using FT2 when I get a chance, if the moderator doesn't mind of course
  • #235
  • Mar 13, 2015 7:06am Mar 13, 2015 7:06am
Hi Simond 2002
Many thanks for the suggestions.Regret still will only land it in the bit at the bottom as before.What are you using to load MT4 onto your Mac with.
I have used Wine on this occasion so maybe that is the problem.Cheers
  • #236
  • Mar 13, 2015 8:07am Mar 13, 2015 8:07am
Quoting Chantalb
Hello everyone, In light of what Red is famous for saying traders helping traders, I am going to post a few ideas open for discussion. I hope I am not intruding here, but I have found your thread to be quite friendly as opposed to all the other ones that are bound to some sort of secrecy vow. I am aware of all the different schools of S/D and S/R trading with all the different terminologies as discussed by the members here. However, in my quest over the years, I have always found that most techniques lack simplicity. So I went back to basics Every...
Hi Chantalb,

Thanks for your post. No intrusion at all, it's great to share these views. Looking at your charts and reading your comments I think we both share the same perspective more or less. My journey has perhaps been similar to yours. It's just been a quest to absorb everything, every terminology out there, every way of looking at the market (in a SD/SR sense) and then discard what's turned out to be around 90% of it and make the rest my own in order that I can bring to the charts each morning a very simple trading method.

What I've picked up along the way is that every single trader that I ever met (bizarrely, even the ones where we were more or less in agreement) had a different view on the market to me. My view is pretty much that expressed with the recent GBPAUD post and the GBPJPY post of today, which incidently I'm absolutely "spitting feathers" at for missing the opportunity to short on the lower timeframes! In a nutshell my method revolves around waiting for the tests of what I've identified to be supply or demand zones, and then looking out for the PA in all timeframes that gives me an indication of a prevailing current market cycle bias (I don't use the words "direction" or "trend" myself), and attempting to trade that to the next obvious and opposing price zone.

At one point I was thinking to robustly push my own terminology on this thread but I've since realised that this is pointless. As you well know, there's no universal terminology in trading, so I just decided that the best way for me to help other traders is to keep posting my own charts whenever I can, and let those persons who are interested enough and able to invest enough of their own time begin to see how price moves and form their own view and a terminology that describes it to them(this is the important bit).

All the best,

Simon
  • #237
  • Mar 13, 2015 8:08am Mar 13, 2015 8:08am
Quoting fonline
Hello Simod2002 and other fellows traders, I like the way you see and approach the market, I do in a similar way. So I suscribed! I going to send some charts hopping to collaborate Regards!
Hi fonline,

Good to have you along - looking forward to seeing your charts.
  • #238
  • Mar 13, 2015 8:15am Mar 13, 2015 8:15am
Quoting reldas
Hi Simond 2002 Many thanks for the suggestions.Regret still will only land it in the bit at the bottom as before.What are you using to load MT4 onto your Mac with. I have used Wine on this occasion so maybe that is the problem.Cheers
Hi reldas,

I use wine also.

Cheers
  • #239
  • Mar 13, 2015 9:13am Mar 13, 2015 9:13am
Hey Simon,

It's great to be able to discuss our ideas as such. I agree, we all have to find our own way. No matter how much someone can try and show you how they trade, it might never work for you. I have been there so many times...
Before I shut down for the weekend, I will post as promised some of my thoughts in action. Also it is worth mentioning, alternating so many TFs only adds to the confusion. I trade each TF as it is, being well aware of where I am on the whole picture. i.e. I won't buy in higher TF supply unless price has proved it first. In the last chart is a potential example, I haven't checked higher TFs tho, but from the looks of it it fits the topic.

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Have a great weekend boys and girls,

Cheers
  • #240
  • Mar 13, 2015 11:46am Mar 13, 2015 11:46am
Quoting Chantalb
Also it is worth mentioning, alternating so many TFs only adds to the confusion. I trade each TF as it is, being well aware of where I am on the whole picture. i.e. I won't buy in higher TF supply unless price has proved it first. In the last chart is a potential example, I haven't checked higher TFs tho, but from the looks of it it fits the topic
Hi Chantalb,

It's important for me to mention here that when I look for setups and take trades, multi-timeframe analysis is critical to what I do. But this type of trading came from first working in only one timeframe in order to properly understand how price cycles between supply and demand.

Am I right in saying that the charts you posted are test trades? (It doesn't bother me if they are or not). Regarding sell limit ticket no. 452 I'm interested to know why you closed it where you did?

Cheers,

Simon
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