Make Sense Mauro
Supply and demand in a nutshell by Alfonso Moreno
- #7,642
- May 20, 2016 9:36am May 20, 2016 9:36am
- | Commercial User | Joined Aug 2011 | 3,559 Posts
Hi dear traders! I'm back with EURGBP, now Weekly chart
Set and Forget supply and demand trading community
- #7,643
- May 20, 2016 10:19am May 20, 2016 10:19am
- | Commercial User | Joined Aug 2011 | 3,559 Posts
{image} Make Sense Mauro
Well done! I love it That's exactly what happened by applying the rules. Have a nice weekend.Cheers, Alfonso
Set and Forget supply and demand trading community
{quote} PERFECT
It connect the last 2 valleys before the trend change direction... I can't find that rule.Nice weekand to all!
Limit your loss, save partial gain and let the profit run!
- #7,645
- May 20, 2016 11:03am May 20, 2016 11:03am
{quote} Ok, i'm agree for the correction on the chart, but I don't understand why the old trend line (bullish one ) is incorrect
"The second valley MUST make a higher high than the first valley's second leg (highest high made by the previous valley) before it's confirmed as a good valley"
That's the rule my friend.
Nice weekand to all!
{quote} Hi Mauro. Your old trend line is incorrect because it doesn't connect the last 2 valleys. Your second "valley" was a potential one, but it didn't make higher high. So we cannot call it as a valid Valley. "The second valley MUST make a higher high than the first valley's second leg (highest high made by the previous valley) before it's confirmed as a good valley" That's the rule my friend. Nice weekand to all!
Find The Pain Points On Your Chart & Trade Off Those Levels
{quote} Hi Mauro. Your old trend line is incorrect because it doesn't connect the last 2 valleys. Your second "valley" was a potential one, but it didn't make higher high. So we cannot call it as a valid Valley. "The second valley MUST make a higher high than the first valley's second leg (highest high made by the previous valley) before it's confirmed as a good valley" That's the rule my friend. Nice weekand to all!
thanks for your contribution, I have find the rule now and it makes sense!
I need to read again the rules!
Cheers!
Mauro
Limit your loss, save partial gain and let the profit run!
- #7,649
- Edited May 21, 2016 1:19am May 20, 2016 11:11pm | Edited May 21, 2016 1:19am
- | Joined Apr 2016 | Status: Trader | 73 Posts
{quote} I don't know if you know but Alfonso has a you tube channel also ... and 1 of the videos (a few) talk about trendlines .. i find video easier to understand then screenshots and text .. so perhap you would find this useful also.
I think that today i'll watch the trend line video again, and again, and again...
Have a nice weekend!
Mauro
Limit your loss, save partial gain and let the profit run!
- #7,651
- May 22, 2016 11:25pm May 22, 2016 11:25pm
- | Commercial User | Joined Aug 2011 | 3,559 Posts
Waiting for brand new daily imbalances to go short or the break of monthly supply.
Set and Forget supply and demand trading community
- #7,652
- Edited 5:47am May 23, 2016 3:49am | Edited 5:47am
- | Joined Apr 2016 | Status: Trader | 73 Posts
Hello Traders!
I whould like to share my opinion on EUR-AUD. This is my topdown analysis:
Monthly: by the time we have a Demand level, tested 2 times and in control. This level is valid because it has invalidate the previous Supply level and broke the previous trend line (not draw). I can't draw a new trend line so far because we are not in trend based the set and forget rules.
Weekly: we have a Demand level born to the proximal line of the Monthly level; this one is valid because broke the trend line (draw in yellow) and invalidate the previous Supply level. Here again, we can't draw a correct trend line so far. Another thing, we are now near at the top of the curve, so go long is dangerous until the level is valid.
Daily: in this chart i have draw the last trend line, connecting the last 2 valleys (the second one is valid for about 10 pips) and it's still valid because the Demand level was not broke, is it correct?
Conclusion: we are to high in the curve for go long, it's better wait a good Supply level if price react at the Weekly Supply area. If this does not happen, we can think to go long after the weekly level will be broken.
Wait some other opinions!
Cheers
Mauro
I whould like to share my opinion on EUR-AUD. This is my topdown analysis:
Monthly: by the time we have a Demand level, tested 2 times and in control. This level is valid because it has invalidate the previous Supply level and broke the previous trend line (not draw). I can't draw a new trend line so far because we are not in trend based the set and forget rules.
Weekly: we have a Demand level born to the proximal line of the Monthly level; this one is valid because broke the trend line (draw in yellow) and invalidate the previous Supply level. Here again, we can't draw a correct trend line so far. Another thing, we are now near at the top of the curve, so go long is dangerous until the level is valid.
Daily: in this chart i have draw the last trend line, connecting the last 2 valleys (the second one is valid for about 10 pips) and it's still valid because the Demand level was not broke, is it correct?
Conclusion: we are to high in the curve for go long, it's better wait a good Supply level if price react at the Weekly Supply area. If this does not happen, we can think to go long after the weekly level will be broken.
Wait some other opinions!
Cheers
Mauro
Limit your loss, save partial gain and let the profit run!
{image} Read the 1st post carefully and view all video youtube Alfonso with passion, patience and thoroughness.. Hopefully Help MauroCheers!
Thank u very much for your reply! I have understand why you have draw that kind of trend line and you are right, i've miss a supply level!
What do u think about the Weekly and Daily chart?
Thanks a lot!
Mauro
Limit your loss, save partial gain and let the profit run!
- #7,655
- May 24, 2016 1:10am May 24, 2016 1:10am
- | Commercial User | Joined Aug 2011 | 3,559 Posts
EURCAD has a brand new Daily demand imbalance nested at monthly demand zone and new weekly demand zone. Nested zones have higher odds. Potential new Daily demand zone being formed a bit higher. Long bias with monthly demand level in control. Similar scenarios happening on other euro currency cross pairs.
Cheers,
Alfonso
www.set-and-forget.com
Cheers,
Alfonso
www.set-and-forget.com
Set and Forget supply and demand trading community
Hi Mauro,sorry i'am late reply because i'am busy! This is my analysis EURAUD : MONTHLY {image} WEEKLY {image} DAILY {image} Sory Alfonso if i'am wrong please corrected??? Thank's Alfonso
I have a little different in Weekly chart, I post it below. The last trend line is invalidate by the last valley; in this case we are allowed to draw a new trend line with the last two obvious valid valleys.
I hope that mine reasoning is good.
Thanks Alfonso to correct it
Limit your loss, save partial gain and let the profit run!
- #7,658
- May 24, 2016 2:05pm May 24, 2016 2:05pm
{quote} Thank you Chandra for share your thought!
- #7,660
- May 25, 2016 12:29am May 25, 2016 12:29am
- | Commercial User | Joined Aug 2011 | 3,559 Posts
This is what usually happens when a bigger timeframe supply level is control. Clear example on Gold XAUUSD, similar scenaruo on Silver XAGUSD
Monthly + weekly supply in control. Too high in the curve, longs are not allowed. New levels of supply being created for shorts.
Have a great day!
Cheers,
Alfonso
www.set-and-forget.com
Monthly + weekly supply in control. Too high in the curve, longs are not allowed. New levels of supply being created for shorts.
Have a great day!
Cheers,
Alfonso
www.set-and-forget.com
Set and Forget supply and demand trading community