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C-12's Supply, Demand and PA thread

  • #4,981
  • May 28, 2017 4:35pm May 28, 2017 4:35pm
Was looking forward to a good full day scalp session tomorrow but it's also a bank holiday in the US as well....

I guess we might get some early action but expect things to die off by the time we get to NY opening.
  • #4,982
  • May 29, 2017 6:28am May 29, 2017 6:28am
Quoting C-12
{quote} Sometimes if comes off a zone but sometimes it's a continuation play. This may not be the perfect entry method since price can sometimes whipsaw or return back to retest a zone
A few questions if you'd be so kind!
1) If you're trading in line with the HTF aren't all your trades continuation trades?
2) When trading continuations you don't mind where price turns on the LTF particularly you just want a strong LTF in the desired direction, it doesn't have to be at a predefined zone?
"Never Take a Trade You Don't Understand!" - Pres78
  • #4,983
  • May 29, 2017 8:31am May 29, 2017 8:31am
Quoting ZeeDeveel
{quote} A few questions if you'd be so kind! 1) If you're trading in line with the HTF aren't all your trades continuation trades? 2) When trading continuations you don't mind where price turns on the LTF particularly you just want a strong LTF in the desired direction, it doesn't have to be at a predefined zone?
Yep and yep. I guess most LTF PA could be classed as continuations. I have been guilty in the past of picking tops and bottoms on M5 and it's not often a fun outcome!

EU been a bit of an expected snoozer but managed to sit on my hands until things started to roll over.

Was slightly annoyed that USDCHF made a solid bull move earlier in the session but EU just sat there static...should have just traded UCHF..
  • #4,984
  • May 29, 2017 4:14pm May 29, 2017 4:14pm
Here we go, a couple of EU engulfing entries (mostly off H1 PA)

Originally had nicer entries but came home after shopping and accidentally hit the close all positions script !!

Had to enter again with a wider stop so less entries.

As a scalper I have to execute without errors and keep concentration...
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  • #4,985
  • May 29, 2017 4:15pm May 29, 2017 4:15pm
And H4..
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  • #4,986
  • May 29, 2017 4:34pm May 29, 2017 4:34pm
That's a nice place to look for a reversal, you've got the strength of the supply zone above and liquidity for shorts above the highs marked in purple.

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"Never Take a Trade You Don't Understand!" - Pres78
  • #4,987
  • May 29, 2017 4:39pm May 29, 2017 4:39pm
Quoting ZeeDeveel
That's a nice place to look for a reversal, you've got the strength of the supply zone above and liquidity for shorts above the highs marked in purple. {image}
Yep, this one had all the ingredients. I was waiting for the M15 zone slightly above but H4 and H1 started rolling over with some nice PA.

Anyway, all out as usual before bed. If swinging I'd be holding these for lower targets but will bank up and see what tomorrow brings.
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  • #4,988
  • May 29, 2017 4:52pm May 29, 2017 4:52pm
Lower targets seem logical. You've got those FBs above the M15 highs, strong selling coming in and now it's testing a very well worn demand level... but a positive equity day is always gravy!
"Never Take a Trade You Don't Understand!" - Pres78
  • #4,989
  • May 29, 2017 5:01pm May 29, 2017 5:01pm
Quoting ZeeDeveel
Lower targets seem logical. You've got those FBs above the M15 highs, strong selling coming in and now it's testing a very well worn demand level.
Yep, with H4 and Daily PA then we should be fair bit lower. 1.10 area looks like a good target. I really need to start holding some of this and revise this plan.

There's a nice broken S/R to watch out for tomorrow's session.
  • #4,990
  • Edited 4:38am May 30, 2017 4:12am | Edited 4:38am
Took it as a breakout late last night, the RR was only about 1.3 but it seemed logical.

Quoting C-12
I really need to start holding some of this and revise this plan. There's a nice broken S/R to watch out for tomorrow's session.
I can see the temptation to finish up at the end of the day and know where you are then start fresh. Perhaps not the optimum way for pips but maybe it's optimum for stress, I guess that depends on the individual. I reckon though if it all lines up like it does on this one, no harm leaving 1/4 of your position on for a runner eh? That demand level we broke through last night had been tested so many times and you've got the falsebreakout/redistribution action above, worth a shot more often than not.

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"Never Take a Trade You Don't Understand!" - Pres78
  • #4,991
  • May 30, 2017 5:05pm May 30, 2017 5:05pm
Practicing in FT with your entry style again, first three trades all big winners. That's all I got time for tonight unfortunately since it's late. Been busy all day, will put in some hours tomorrow. I'm still dubious about moving to BE as a strategy, have any insights to your thoughts on BE?

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"Never Take a Trade You Don't Understand!" - Pres78
  • #4,992
  • May 31, 2017 4:20am May 31, 2017 4:20am
Just gonna post one more chart from FT for now which I think very clearly highlights a point I see you've made over and over C-12. Don't try to pick tops & bottoms based on LTF PA. This is something I'm VERY guilty of and it's making my trading extremely inconsistent. I get 10R winners punctuated with a steady string of losers.

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"Never Take a Trade You Don't Understand!" - Pres78
  • #4,993
  • Edited 6:38am May 31, 2017 6:26am | Edited 6:38am
Quoting ZeeDeveel
Just gonna post one more chart from FT for now which I think very clearly highlights a point I see you've made over and over C-12. Don't try to pick tops & bottoms based on LTF PA. This is something I'm VERY guilty of and it's making my trading extremely inconsistent. I get 10R winners punctuated with a steady string of losers. {image}
Yes, LTF is safest with the HTF PA... Here's an example on EU. You could argue that M5 wasn't needed at all since H1 provided all the information and H4 as the directional.

Now in H1 supply but I'm holding a long (and not looking to jump into this level unless there's a good reason to).
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  • #4,994
  • May 31, 2017 8:05am May 31, 2017 8:05am
Why didn't you take the engulfs in the green boxes I've drawn? Is it because they're too far away from the H1 demand?

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"Never Take a Trade You Don't Understand!" - Pres78
  • #4,995
  • May 31, 2017 8:14am May 31, 2017 8:14am
Quoting ZeeDeveel
Why didn't you take the engulfs in the green boxes I've drawn? Is it because they're too far away from the H1 demand? {image}
It looked like price was aiming to retest the H1 demand.. Also watching multiple time frames there was no other sign it was turning early (on M15/M30)
  • #4,996
  • May 31, 2017 10:01am May 31, 2017 10:01am
Got another couple of add ons on the pullback.
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  • #4,997
  • May 31, 2017 10:07am May 31, 2017 10:07am
And that's enough, will leave the lower to run. Good scalp session
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  • #4,998
  • May 31, 2017 11:33am May 31, 2017 11:33am
Didn't have the balls to hold it.

Got a H1 engulfing off last level of supply so it will surely retrace some.
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  • #4,999
  • Jun 1, 2017 7:33am Jun 1, 2017 7:33am
Scalps. EU still looks bullish on the daily so will see...
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  • #5,000
  • Jun 1, 2017 8:03am Jun 1, 2017 8:03am
Quoting C-12
Scalps. EU still looks bullish on the daily so will see... {image}

nice trade, looks like you took a little heat on the retrace. When did you move to breakeven and what was your exit based on? It looks like there's 1 hour and 15 min demand that was about to be tested - what that the reasoning?
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