Price Will Tell - Supply/Demand Price Action Trading
- #862
- Edited 8:32am Jul 31, 2016 4:30am | Edited 8:32am
- Joined May 2012 | Status: ... | 1,925 Posts
Originally posted this in another thread but prefer to move it here instead:
Sterling situation
GBPJPY is technically sitting at a more interesting place than Cable, perched right at the locale of that 2012 breakout. Typically an area like this can start to build as support but if we look at the last area where price built resistance in this TF, the bearish move took 7 months or so to get going. As usual in trading, a lot of waiting involved, even if the levels are good to note.
SR wise, Cable is markedly different.
There's recently been a lot of comments in the media about the 35-year low or whatever it is, but what I've found interesting is that the pundits (to the best of my knowledge) have ignored the fact that Brexit came just as Cable actually probed that area just below the lows of the three highlighted candles, which are in essence the stopping volume of the Credit Crunch. This development is more interesting news to me and I've found it strange that the 'media' would ignore it, but I think it's highly significant for traders.
Regardless of whether or not we'll see bull or bear continuation modes, with this market having now probed either side of the range caused by the stopping volume of the Credit Crunch, what we've just witnessed is an important aspect of the Credit Crunch resolve itself. Interesting times indeed.
Sterling situation
GBPJPY is technically sitting at a more interesting place than Cable, perched right at the locale of that 2012 breakout. Typically an area like this can start to build as support but if we look at the last area where price built resistance in this TF, the bearish move took 7 months or so to get going. As usual in trading, a lot of waiting involved, even if the levels are good to note.
SR wise, Cable is markedly different.
There's recently been a lot of comments in the media about the 35-year low or whatever it is, but what I've found interesting is that the pundits (to the best of my knowledge) have ignored the fact that Brexit came just as Cable actually probed that area just below the lows of the three highlighted candles, which are in essence the stopping volume of the Credit Crunch. This development is more interesting news to me and I've found it strange that the 'media' would ignore it, but I think it's highly significant for traders.
Regardless of whether or not we'll see bull or bear continuation modes, with this market having now probed either side of the range caused by the stopping volume of the Credit Crunch, what we've just witnessed is an important aspect of the Credit Crunch resolve itself. Interesting times indeed.
- #864
- Aug 1, 2016 7:28am Aug 1, 2016 7:28am
- Joined May 2012 | Status: ... | 1,925 Posts
I still didn't see the bull at this demand. {image}
I've got GBPJPY in M15 rectrace mode with some scruffy looking S/R and a top at 136.10 in this TF.
CADJPY M15 similar scenario although the S/R looks a bit cleaner.
What's your view USDCAD M30?
{quote} Those Yen pairs are looking a bit fractious at the moment. I've got GBPJPY in M15 rectrace mode with some scruffy looking S/R and a top at 136.10 in this TF. {image} CADJPY M15 similar scenario although the S/R looks a bit cleaner. {image} What's your view USDCAD M30?
- #868
- Aug 1, 2016 9:26am Aug 1, 2016 9:26am
- Joined May 2012 | Status: ... | 1,925 Posts
I pay attention to this limit. Breaking this limit , it will come to my consideration on potential entry.{image} {image}
- #870
- Aug 1, 2016 9:39am Aug 1, 2016 9:39am
- Joined May 2012 | Status: ... | 1,925 Posts
At the end of last week the expansion to the left broke down leaving some supply in its wake.
I had a lower level that I wanted to buy from but price has been retracing since last night's open and is now taking its first touch on the supply.
Don't really like it when stuff starts happening towards the end of my trading day because if I take entries later on I can't help but monitor them and that's not good for family life! Will watch anyway...
I had a lower level that I wanted to buy from but price has been retracing since last night's open and is now taking its first touch on the supply.
Don't really like it when stuff starts happening towards the end of my trading day because if I take entries later on I can't help but monitor them and that's not good for family life! Will watch anyway...
- #873
- Aug 1, 2016 10:24am Aug 1, 2016 10:24am
{quote} Most liquidity price
can you explain how you draw i mean what you look for when you draw .. ?(sorry to bother you again & again )
"The world is full of nice people... If you can't find one... Be one
- #874
- Aug 1, 2016 10:43am Aug 1, 2016 10:43am
{quote} Yes i heard about it before from you
- #875
- Aug 1, 2016 10:52am Aug 1, 2016 10:52am
{quote} You can refer to my profile, there is a link to my blog..newly ..u can refer how to draw it.
"The world is full of nice people... If you can't find one... Be one
- #876
- Edited 11:41am Aug 1, 2016 11:15am | Edited 11:41am
I pay attention to this limit. Breaking this limit , it will come to my consideration on potential entry.
Potential entry & limit. Freshness is always an attraction.
- #878
- Aug 2, 2016 11:41am Aug 2, 2016 11:41am
- Joined May 2012 | Status: ... | 1,925 Posts
{quote} Seems to be.. {image} Price always attract to fresh base .. {image}
Did you sell that top USDJPY position on the breakout?
{quote} Some nice trades there
Here is a topdown from Daily to M5 timeframe & it shows where actually my entry on M5 timeframe.
{quote} Actually i am a pullback trader, on Daily timeframe seems like i trade a breakout, but if we do a Topdown analysis we will find the pullback. Here is a topdown from Daily to M5 timeframe & it shows where actually my entry on M5 timeframe.
Keep It Simple & Profitable