Disliked{quote} Can you post the pdf here, please. I tried to download from his website , but it was riddled with spam, including interference with the Chrome browser.Ignored
- #30,361
- May 14, 2015 6:21pm May 14, 2015 6:21pm
- Joined Mar 2009 | Status: Hobby Trader | 4,477 Posts
- #30,367
- May 15, 2015 8:09am May 15, 2015 8:09am
- Joined Mar 2009 | Status: Hobby Trader | 4,477 Posts
- #30,368
- May 15, 2015 8:24am May 15, 2015 8:24am
- Joined Mar 2009 | Status: Hobby Trader | 4,477 Posts
I've been following and commenting on AUDUSD over the last few days. I think studying this will help a great deal with some of the questions being asked.
Price has been descending Engulfing on its way down as shown. As long as price continues to engulf south then I will mostly consider sells even though it has entered a demand zone. I can't stress the importance of my last statement.
After entering the HTF demand so far their hasn't really been any evidence that buyers are interested in taking this up.
Price has been descending Engulfing on its way down as shown. As long as price continues to engulf south then I will mostly consider sells even though it has entered a demand zone. I can't stress the importance of my last statement.
After entering the HTF demand so far their hasn't really been any evidence that buyers are interested in taking this up.
- #30,369
- May 15, 2015 8:28am May 15, 2015 8:28am
Hi Verbal
Like WR said, is important to watch PA as it arrives to an area of interest, but be aware also
when there are areas close to each other... RED as charts ilustrating this.
Here is one of them.
Like WR said, is important to watch PA as it arrives to an area of interest, but be aware also
when there are areas close to each other... RED as charts ilustrating this.
Here is one of them.
- #30,370
- May 15, 2015 9:21am May 15, 2015 9:21am
- Joined Mar 2009 | Status: Hobby Trader | 4,477 Posts
Price encountered lower demand and has now engulfed a supply zone. This demonstrates buyers willing to take price up.
There is more supply above but I will not trade these. I would wait for price to come back to the broken supply area or to the origin of new demand created in the HTF demand.
There is more supply above but I will not trade these. I would wait for price to come back to the broken supply area or to the origin of new demand created in the HTF demand.
- #30,371
- May 15, 2015 10:03am May 15, 2015 10:03am
- Joined Mar 2009 | Status: Hobby Trader | 4,477 Posts
1 minute chart. Anyone want to comment?
- #30,372
- May 15, 2015 11:06am May 15, 2015 11:06am
- Joined Aug 2009 | Status: Reading the TAPE | 2,389 Posts
Without VSA, you're playing checkers while the Smart Money plays chess.
- #30,374
- May 15, 2015 12:19pm May 15, 2015 12:19pm
- Joined Mar 2009 | Status: Hobby Trader | 4,477 Posts
- #30,377
- May 15, 2015 11:59pm May 15, 2015 11:59pm
- Joined Mar 2009 | Status: Hobby Trader | 4,477 Posts
{quote} Try autotrend channel indi on multiple timeframes like sf_trendlines.mq4 and long term moving average (like period 100 or 200) if both are bullish the chance of broken supply would be bigger then broken demand. ofcourse this isnt a holy grail but work well for me. trading-kid, (my english isnt great)
- #30,378
- May 16, 2015 12:18am May 16, 2015 12:18am
- Joined Mar 2009 | Status: Hobby Trader | 4,477 Posts
{quote} I have a question. Whist we have taken different paths, we have arrived at the same location: an area where we would like to get long. So how, or what, brings us into this market on the long side? {image}
In this case NEW demand occurs within the HTF demand zone. So when price returns to this new demand I am super interested in trading it. If I was to touch trade (and I don't) this is where I would do so. Instead of touch trading I wait for the first candle that engages the zone to close. I will enter if the first candle does not plow through the zone and close below the zone but usually on a break of a candle high (if it is demand). I don't set stop losses as I believe SLs are fodder for smart money.
So trading s/d zones has everything to do with how price approaches and how price reacts once it engages the zone.
While I will often look at volume for assistance in this case it was not needed. PA IMHO was obvious and the entry based on the PA and not any single candle or group of candles communicated that the smart money was taking this long.
