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Supply and Demand trading with Fibs

  • #1,581
  • Apr 18, 2017 6:39am Apr 18, 2017 6:39am
What do you guys think of this supply zone (black box) on EURCAD DAILY SL 1.4305/stop 1.4356/TP 51 pips for me, otherwise maybe the next demand zone at 1.4150?
Confluence on this one: at the 50% FIB retrace + with the LT downtrend
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  • #1,582
  • Apr 18, 2017 6:56am Apr 18, 2017 6:56am
Sometimes it feels too easy!! Supply and demand, god I just love it!! HAd this as a buy limit and woke up to this
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  • #1,583
  • Apr 18, 2017 7:26am Apr 18, 2017 7:26am
Quoting minosd
{quote} Hello Cashforex I also had a SL marked on this pair, Daily, red box, but price missed it by just a few pips before crashing lower Now price is heading into some weekly and monthly supply zones (black box), but for me the best opp is already behind us {image}
Hi Minsod, this was the original supply which you should have taken on the trade pls refer to pic, as you can see the supply area you marked those orders have been filled from previous supply and its not a fresh zone have a look to the left
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  • #1,584
  • Apr 18, 2017 7:29am Apr 18, 2017 7:29am
Quoting deankenny21
Sometimes it feels too easy!! Supply and demand, god I just love it!! HAd this as a buy limit and woke up to this {image}
Yes dean had the same trade as well, doesn't get any better then this
  • #1,585
  • Apr 18, 2017 8:40am Apr 18, 2017 8:40am
Quoting minosd
Hello All, AFter a long WK, back at FX again. I am looking at a AUD NZD BL opportunity on the daily chart (same as Dean's) - BL not yet placed Also I shorted EUR USD on the 8H, was in profit but price has retraced at the moment. Br, Edensgarden {image} {image}
Hi Minsod, bro can i ask as to why are you shorting EUR, when the EUR long term Trend is up
  • #1,586
  • Apr 18, 2017 8:50am Apr 18, 2017 8:50am
Am looking at these zones, upper one from daily, what do you guys think ?
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  • #1,587
  • Apr 18, 2017 10:57am Apr 18, 2017 10:57am
Quoting Rioja
Am looking at these zones, upper one from daily, what do you guys think ? {image}
Nice level Rioja, good job, we know that's a fresh level as its just broken through demand, so it's turned demand into "NEW" supply, and on the 61.8 fib too, nicely spotted, keep your eye on news appraching the level, and remember. WE ARE LOOKING FOR AN INITIAL REACTION NOT A SWING POINT AT THE LEVEL.

Please remember that traders, we are looking for an initial reaction to move stops to BE at least, then hope the sellers are strong enough to take us for a ride. Never ever just expect price to fly off from a zone, the market is alot bigger than us, we know for sure sellers are sat there, but we don't know how many or at what size, but 99% of the time there will always be some reaction at a level, most the time enough to lock in profits or move stop to BE thus reducing your risk.
  • #1,588
  • Apr 18, 2017 12:45pm Apr 18, 2017 12:45pm
Are these zones OK ? Please don´t pay attention to the red doted lines :-)
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  • #1,589
  • Apr 18, 2017 1:48pm Apr 18, 2017 1:48pm
Quoting cashforex
{quote} Hi Minsod, bro can i ask as to why are you shorting EUR, when the EUR long term Trend is up
Hello, EUR USD upmove surprised me, I shorted EUR USD on 8H an almost hit TP before it turned and hit STOP, too bad I DID NOT move the STOP to lock in profits like I should've!
EUR CAD SL got not chance at all, maybe now it's in an uptrend, but if you look at LT trend it's still down for me
  • #1,590
  • Apr 18, 2017 2:04pm Apr 18, 2017 2:04pm
Quoting minosd
{quote} Hello, EUR USD upmove surprised me, I shorted EUR USD on 8H an almost hit TP before it turned and hit STOP, too bad I DID NOT move the STOP to lock in profits like I should've! EUR CAD SL got not chance at all, maybe now it's in an uptrend, but if you look at LT trend it's still down for me
Anyone trading after Mays speech and the moves we seen in the last few hours, should take a step back.
Let it settle, don't try get in the way of all that, as much as a good trader as one can be, not even myself takes on that.
  • #1,591
  • Apr 18, 2017 2:40pm Apr 18, 2017 2:40pm
Quoting deankenny21
{quote} Anyone trading after Mays speech and the moves we seen in the last few hours, should take a step back. Let it settle, don't try get in the way of all that, as much as a good trader as one can be, not even myself takes on that.
GBPUSD Weekly fresh supply held like a brick wall if anyone does position trading...

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  • #1,592
  • Apr 18, 2017 2:44pm Apr 18, 2017 2:44pm
Quoting deankenny21
{quote} Anyone trading after Mays speech and the moves we seen in the last few hours, should take a step back. Let it settle, don't try get in the way of all that, as much as a good trader as one can be, not even myself takes on that.
Completely true! Unfortunately I had a day off today and took the opportunity to place that EUR CAD trade without paying too much attention to May's speech, in Belgium this is minor news, even if forexlive covered it extensively...good lesson, this GBP news was bound to impact the EUR in a way or another and create a tsunami of orders that make the exercise of zone placing futile
  • #1,593
  • Apr 18, 2017 2:44pm Apr 18, 2017 2:44pm
Quoting Tuk786
{quote} GBPUSD Weekly fresh supply held like a brick wall if anyone does position trading... {image}
Indeed TUK, quite a number of sellers at 1.29 as we can see clearly being supply and demand traders. IS it enough to push it back down into the lower range, we shall see, but anyone trading from the weekly, we have had the reaction, remember thats what we look for, react from the reaction, then ride it if it moves down, if not the reactin you made at reaction will cut losses very much short.
  • #1,594
  • Apr 18, 2017 2:46pm Apr 18, 2017 2:46pm
@ Dean, do you make a difference between NY closing charts and others? I noticed some of the charts here don't match mine, NY closing charts.

Br,
Edensgarden
  • #1,595
  • Apr 18, 2017 2:48pm Apr 18, 2017 2:48pm
Quoting deankenny21
{quote} Indeed TUK, quite a number of sellers at 1.29 as we can see clearly being supply and demand traders. IS it enough to push it back down into the lower range, we shall see, but anyone trading from the weekly, we have had the reaction, remember thats what we look for, react from the reaction, then ride it if it moves down, if not the reactin you made at reaction will cut losses very much short.
Dean, do you have a specific set number of pips/down movement when looking for reaction? At what point would you move stop loss?
  • #1,596
  • Apr 18, 2017 2:50pm Apr 18, 2017 2:50pm
WHat do you guys think of these 2 zones on the Daily, they are correlated zones and formed at the same time
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  • #1,597
  • Apr 18, 2017 2:51pm Apr 18, 2017 2:51pm
Quoting minosd
WHat do you guys think of these 2 zones on the Daily, they are correlated zones and formed at the same time {image} {image}
I got that EURUSD marked down too on the daily
  • #1,598
  • Apr 18, 2017 5:32pm Apr 18, 2017 5:32pm
Quoting deankenny21
SPOTTING NEW/FRESH ZONES What we have here, is supply zones all being taken out, and where this supply was, is now formed a demand zone, ever heard support and resistence traders mention pivot zones or the old saying "resistence turns into support" and vice versa. Well here is why, supply has been sucked up by demand, and has now broken the supply levels, thus in turn creating a new and fresh "demand level" {image}
Sorry, I'm very new to this..
reading this and I still don't quite understand
is this supply demand zone correct? are there any zone nearby that i missed?
I wanna learn the correct zone first
I tend to look at lower time frame
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  • #1,599
  • Apr 18, 2017 6:01pm Apr 18, 2017 6:01pm
CAD/CHF Short set up
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  • #1,600
  • Apr 18, 2017 11:12pm Apr 18, 2017 11:12pm
I posted this chart yesterday and had a nice succesful trade all closed and profits gained. Whoever has entered on the second touch, you are very much in healthy profit right now, if you have not already, at least move your SL to breakeven, final target is really up to you, could be the last swing low where my original TP was taken, the opposite supply level etc, there is no 100% correct way, the main rule is getting your risk reduced, that should be your priority.
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