Price is everything | Page 1536 | Forex Factory

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Price is everything

  • #30,701
  • Jun 2, 2016 11:44am Jun 2, 2016 11:44am
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God bless you Red
  • #30,702
  • Edited 6:28pm Jun 2, 2016 12:57pm | Edited 6:28pm
Quoting Arnoud
{quote} Gold yes {image}
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Reacted from supply not sure now

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Trade
  • #30,703
  • Jun 3, 2016 7:54am Jun 3, 2016 7:54am
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God bless you Red
  • #30,704
  • Jun 3, 2016 7:55am Jun 3, 2016 7:55am
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God bless you Red
  • #30,705
  • Jun 16, 2016 10:18am Jun 16, 2016 10:18am
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God bless you Red
  • #30,706
  • Jun 16, 2016 12:14pm Jun 16, 2016 12:14pm
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God bless you Red
  • #30,707
  • Jun 16, 2016 6:17pm Jun 16, 2016 6:17pm
Quoting magician11
{image}
nice analysis..... i also learnt few things in this pic... thank you so much
Success is a Journey Not a Destination....... kind regards ramzam
  • #30,708
  • Jun 20, 2016 10:11am Jun 20, 2016 10:11am
Quoting magician11
{image}
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God bless you Red
  • #30,709
  • Jun 20, 2016 10:31am Jun 20, 2016 10:31am
Quoting magician11
{quote} {image}
Nice, I'm already long here, what do you think a good target will be?
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Alshehri
  • #30,710
  • Jun 20, 2016 10:45am Jun 20, 2016 10:45am
Quoting Alshehri
{quote} Nice, I'm already long here, what do you think a good target will be? {image}
first tg 1.29
God bless you Red
  • #30,711
  • Jun 20, 2016 1:26pm Jun 20, 2016 1:26pm
Quoting magician11
{quote} {image}
So where is ur S/L ?
  • #30,712
  • Jul 3, 2016 9:14am Jul 3, 2016 9:14am
Quoting magician11
{quote} first tg 1.29
I like your style.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #30,713
  • Jul 22, 2016 6:20pm Jul 22, 2016 6:20pm
Feeling nostalgic so though I'd ramble a bit.

YM (DJIA) has been on a tear recently. Hard to consider shorts yet there were some sell opps. Consider the chart below. The up-fork broke down and created a supply area. Although Andrew's pitchfork is not necessary to supply and demand trading I find it very helpful for staying on the right side of the market or the general trend. This will obviously change depending on the time frame. This happens to be the 30m. A 15 or even a H1 would have worked also but the supply level shown was more obvious here.
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  • #30,714
  • Jul 22, 2016 6:33pm Jul 22, 2016 6:33pm
Quoting Winston Reed
Feeling nostalgic so though I'd ramble a bit. YM (DJIA) has been on a tear recently. Hard to consider shorts yet there were some sell opps. Consider the chart below. The up-fork broke down and created a supply area. Although Andrew's pitchfork is not necessary to supply and demand trading I find it very helpful for staying on the right side of the market or the general trend. This will obviously change depending on the time frame. This happens to be the 30m. A 15 or even a H1 would have worked also but the supply level shown was more obvious here....
I use multi-time frames to trade with the 5 minute being my favored entry time frame. Here you can see the supply level unaltered from the previous 30m chart. Crucial to my trading is engulfing PA. It is my signal to enter.

Drawing perfect supply and demand levels is only one part of the equation. The new formation of a level is HUGE and should not be ignored. The higher the time frame the more important the level. This new H1/m30/m15 level formed upon breakdown of the uptrend fork. Does it mean the "bigger trend" is going to fail. Not necessarily but this level IMHO was important and looking for signals to trade it was high on my list.

As marked several 5m engulfings occurred with the last one finally producing stellar results. I am cautious with very large engulfings as they are quite often retraced significantly or completely so I will not usually trade them.

It's important to note that price did not actually retrace back into the supply level. This highlights the importance of PA over levels.

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  • #30,715
  • Jul 22, 2016 6:47pm Jul 22, 2016 6:47pm
Again the 30m chart shows the creation of a 30m supply level. It is significant as it formed on the lower median line of the fork. Again the fork is not necessary to trade supply and demand but it can give a great deal of confidence and it does clarify trading direction.
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  • #30,716
  • Jul 22, 2016 6:55pm Jul 22, 2016 6:55pm
Back to the 5m chart. The demand forming PA is marked with a blue line running through it. The arrows highlight 3 engulfing 5 min PA candles. All occurred after a retrace of PA although all did not reenter the demand zone.
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  • #30,717
  • Jul 22, 2016 6:59pm Jul 22, 2016 6:59pm
Quoting Winston Reed
{quote} I am cautious with very large engulfings as they are quite often retraced significantly or completely so I will not usually trade them. It's important to note that price did not actually retrace back into the supply level. This highlights the importance of PA over levels. {image}
Anytime I scalp the YM, I like to have a chart of the ES available for S/D zones. There's 10 times the volume in ES as there is in YM so ES leads & YM follows. At a critical S/R level, if YM breaks the level but ES doesn't then you'll get a FO. For swing trading I prefer just using ES rather than YM because of the importance of the S/D & S/R levels. YM is nicer for scalping because of the additional entry/exit points.

***Notice on the same 5M ES chart that price returned to the S/D zone that YM failed to reach. Levels & zones are much cleaner on ES.
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  • #30,718
  • Jul 22, 2016 7:00pm Jul 22, 2016 7:00pm
Quoting Winston Reed
Back to the 5m chart. The demand forming PA is marked with a blue line running through it. The arrows highlight 3 engulfing 5 min PA candles. All occurred after a retrace of PA although all did not reenter the demand zone. {image}
Same 30min demand level. Today's PA was sweet. Engulfings showed the way.

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  • #30,719
  • Jul 22, 2016 7:05pm Jul 22, 2016 7:05pm
​Zones are important but not all there is to supply and demand trading. Zone formation is significant but if you are obsessed with waiting for price to return to the zone you will often be disappointed. Yes price may return but it will often move right through it. PA after zone formation is important. Engulfings as triggers especially after a retrace are useful. As with anything they are not 100%.
1. Zone formation.
2. Price retraces to or near the zone.
3. Engulf
4. Price moves further away from zone
5. Price retraces again
6. Engulf
  • #30,720
  • Jul 22, 2016 7:10pm Jul 22, 2016 7:10pm
Quoting srt
{quote} Anytime I scalp the YM, I like to have a chart of the ES available for S/D zones. There's 10 times the volume in ES as there is in YM so ES leads & YM follows. At a critical S/R level, if YM breaks the level but ES doesn't then you'll get a FO. For swing trading I prefer just using ES rather than YM because of the importance of the S/D & S/R levels. YM is nicer for scalping because of the additional entry/exit points. ***Notice on the same 5M ES chart that price returned to the S/D zone that YM failed to reach. Levels & zones are much cleaner...
​Thanks SRT. I am not so nimble with such correlations but this can certainly be helpful to some. I also trade ES but lately I've taken a liking to YM. Once I see formation of a level I watch it for entry. Sure PA is not always cooperative but I sure like those engulfs. Elevates my heart rate when they occur in the right places.
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