Price Will Tell - Supply/Demand Price Action Trading

Yes, tricky week all across. No trades this week yet.

Kinda range, expanding at top means expectation to go at bottom, range base

Yea, that M5 demand failed to give a decent reaction overnight and instead price made a fresh low. Back to EU M1 charts for the time being

GJ M1

Tricky PA, let's hope it gets to target...

Something to watch out for. There's an error in profit taking that I keep making. And it's about precluding myself from being among the first group of market participants taking profits at SR. Instead I constantly aim to take profit at the zones (swing points) and as a result miss out - quite a bit. Basically, T/P should've been at that thick yellow line. Oh well... All one can do now is let it play out and see what happens.

Stopped at B/E on that prior trade.

Would like to hear your thoughts on how you guys manage your positions? Also some thoughts on journals etc.

Some thoughts of my own - just my own point of view:

T/Ps

I'm happy with my analysis, entries, position management etc. On a day-to-day basis things are pretty good, however, there's still a yawning gap in my own method and it relates to taking profits. I find myself time and again alluding to the idea that profits should be taken either at SR or where I anticipate SR will form. For some reason, however, I often end up aiming for the bigger target, which of course, leads to S/L being hit. At the want of sounding like a broken record, profits need to be taken at SR. Get it into your thick skull.

Journals

I understand that traders always talk about keeping a journal. But traders talk about a lot things. My side, I believe that until one knows, with iron-clad certainty, what one's signals look like and how to trade them, i.e. one's "method", then keeping a journal is a distraction. In fact I'd go further and say that until one owns one's trading method, keeping a journal is detrimental to learning. Personally I've never kept a proper journal until now. I think the time's come to start keeping a proper offline journal. The reason for this is that I want to use a journal to encourage "behaviour change", such things as taking profits, keeping count of all, clear signals on a daily basis, making sure to take all, clear signals etc etc etc.

GBPJPY M5

Potentially going to be a few hours before either of these levels tests but this is current analysis.

LHs would suggest lower still. I'd like to buy it from that demand level but obviously will need to
react to it if the top gets hit first.

Apart from that I don't currently see any other opportunity on this TF.

Once bitten twice shy

... and there's a live example of the market now headed for the bigger target and a 2R trade that could have been an 8R trade.
Perhaps the key is to just keep taking the B/Es until the big move comes.

Target is always illusion, but I think if our stop is above marked green supply area, our conservative target will be next clean demand area (I marked it in yellow).



If looking at bigger picture.... I think target is where the rally started



All with advantage of hindsight!!!

I agree. Target on that M5 trade should've been exactly where you drew that yellow box

GBPJPY
Current M30 tech my side.

GBPJPY tech (obviously predicated on GBPJPY opening more or less where it closed Friday).

M15

Midzone supply zone (blue box) formed in a pretty standard way after price broke the prior swing low. If price retraces there can be a nice place to sell from depending on PA on the retest.



M5 (zoomed in view with angular trend-lines removed)

The first heads up that a corrective swing (retrace in other words) may form, has already printed (PA around that tick-mark). Will be looking for buys targeting the M15 supply zone. If price dips below the current swing low, however, will re-assess.

Go with the (order) flow.

There's a really nice swing trade on this chart. Can anyone see it, mark it out, rationale etc?
Last but not least, what timeframe is this chart? This is not a trick question. It's a very important point.

Gonna give a heads up to the above... Back to the questions...

USDJPY H1.
Time to go long.

I would add, we have a New Structure Low and a retrace is needed for LH.

Hi Fadhl,

Not sure if the USDJPY H1 is in reference to the prior question on post 1215. Assuming it is, the pair on that post isn't USDJPY or H1. TF is lower.

Regarding USDJPY H1 buying, based on current PA, personally I'd be waiting for price to close above resistance. Can rally from here of course, I'm not a buyer at the moment, however.

Clueless!