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Price Will Tell - Supply/Demand Price Action Trading

  • #1,361
  • Edited 10:52am Jun 13, 2017 9:58am | Edited 10:52am
Quoting simond2002
{quote} A recalcitrant move up. These serve as the best examples why not to use Limit orders and read price-action at the levels instead. 123.60'ish is the level mentioned in post 1,313 and is rejecting bulls. Let's see... {image}
5R. Damnit that was a long wait. But I gotta say I love it when a plan comes together

Moved this chart to journal here
  • #1,362
  • Jun 14, 2017 7:03pm Jun 14, 2017 7:03pm
Party started


EURJPY H1
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYH1.png Size: 44 KB
  • #1,363
  • Jun 14, 2017 7:44pm Jun 14, 2017 7:44pm
Quoting shs0404
Party started EURJPY H1 {image}

Simply lose
  • #1,364
  • Jun 15, 2017 2:02am Jun 15, 2017 2:02am
Quoting shs0404
{quote} Simply lose
Trading breakouts rarely ends well.
  • #1,365
  • Jun 15, 2017 6:32am Jun 15, 2017 6:32am
Quoting simond2002
{quote} Trading breakouts rarely ends well.
Hey simond, could you stretch that out please

Andres
  • #1,366
  • Jun 15, 2017 9:32am Jun 15, 2017 9:32am
Quoting andddres1
{quote} Hey simond, could you stretch that out please Andres
Hi Andres, it can be a complex subject to be honest because there are various scenarios and factors but I'll try my best to keep it simple. Also, I think it's important to state that my opinion is that of a SD trader that would always wait for some form of retrace. A scalper on the other hand would chase a momentum candle like that no doubt. Actually, in essence this is the distinction between scalping and SD trading.

We don't have access to which candle the trade was entered on but by my estimation it was somewhere in that circled cluster at support.

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYH1.png Size: 33 KB


Breakout candles (bearish in this case) will often be retraced. In technical terms, the market is probing the lows and can find liquidity in the form of buying pressure that it will need to absorb. Add to this the market often seeking to revisit the imbalance (to collect the remaining orders) that caused the initial drop, and the result is a retrace - not particularly pleasant if one has shorted early.

In this example, if the market had initially dropped further (leaving a supply "midzone" in its wake) then it may have been the case to wait for price to retrace then trade something like the following, i.e. price revisiting the origin of the breakout:

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYH1-2.png Size: 37 KB


Obviously that didn't happen and EURJPY H1 today has been a bit choppy.

Hope this is clear enough?
  • #1,367
  • Jun 15, 2017 10:04am Jun 15, 2017 10:04am
Quoting simond2002
{quote} Hi Andres, it can be a complex subject to be honest because there are various scenarios and factors but I'll try my best to keep it simple. Also, I think it's important to state that my opinion is that of a SD trader that would always wait for some form of retrace. A scalper on the other hand would chase a momentum candle like that no doubt. Actually, in essence this is the distinction between scalping and SD trading. We don't have access to which candle the trade was entered on but by my estimation it was somewhere in that circled cluster...

good lesson
thanks simond
  • #1,368
  • Jun 15, 2017 12:30pm Jun 15, 2017 12:30pm
simond

what about Fibonacci tools

is it useful for supply and demand
  • #1,369
  • Jun 15, 2017 2:17pm Jun 15, 2017 2:17pm
Quoting shs0404
simond what about Fibonacci tools is it useful for supply and demand
In my view Fib is already printed into price structure so personally I prefer not to clutter the charts with extra tools.

In the first instance you may find adding a Fib tool can give added confidence but my guess is, the more you develop as a SD trader the less jumble you'll want on your own charts.

Attached Image (click to enlarge)
Click to Enlarge Name: Fib.png Size: 64 KB
  • #1,370
  • Jun 15, 2017 7:28pm Jun 15, 2017 7:28pm
Quoting simond2002
{quote} Hi Andres, it can be a complex subject to be honest because there are various scenarios and factors but I'll try my best to keep it simple. Also, I think it's important to state that my opinion is that of a SD trader that would always wait for some form of retrace. A scalper on the other hand would chase a momentum candle like that no doubt. Actually, in essence this is the distinction between scalping and SD trading. We don't have access to which candle the trade was entered on but by my estimation it was somewhere in that circled cluster...

thank you Simond, understood, very kind
  • #1,371
  • Jun 16, 2017 2:00am Jun 16, 2017 2:00am
Euro's been rubbish these past few days. Been looking at other pairs.


USDCHF

H4
It's reasonable to anticipate price retracing to somewhere around that yellow line.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCHFH4.png Size: 37 KB


M5
On that basis will try and catch a short setup on M5. (Always open to the other side, thus if it breaks out north will buy a retrace if possible)

Attached Image (click to enlarge)
Click to Enlarge Name: USDCHFM5.png Size: 29 KB
  • #1,372
  • Jun 16, 2017 2:13am Jun 16, 2017 2:13am
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_USD_CHF_15 Mins_snapshot.png Size: 69 KB

thinking to catch a little higher
  • #1,373
  • Jun 16, 2017 2:27am Jun 16, 2017 2:27am
Quoting staurum
{image} thinking to catch a little higher
If you check the M30 we've also had this inversion. Who knows... I'll either win or lose

Attached Image
  • #1,374
  • Jun 16, 2017 2:53am Jun 16, 2017 2:53am
for 30pips, love it
  • #1,375
  • Jun 16, 2017 2:57am Jun 16, 2017 2:57am
Quoting simond2002
{quote} Hi Andres, it can be a complex subject to be honest because there are various scenarios and factors but I'll try my best to keep it simple. Also,...
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_EUR_JPY_15 Mins_snapshot.png Size: 71 KB
  • #1,376
  • Jun 16, 2017 2:58am Jun 16, 2017 2:58am
Quoting staurum
{quote} {image}
Why did you sell there?
  • #1,377
  • Jun 16, 2017 3:15am Jun 16, 2017 3:15am
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_EUR_JPY_7 Days_snapshot.png Size: 85 KB
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_EUR_JPY_1 Min_snapshot.png Size: 89 KB
  • #1,378
  • Jun 16, 2017 3:17am Jun 16, 2017 3:17am
Quoting simond2002
{quote} If you check the M30 we've also had this inversion. Who knows... I'll either win or lose {image}
Stop to B/E. If it pushed up from here I wouldn't want to be in it.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_3.png Size: 30 KB
  • #1,379
  • Jun 16, 2017 3:24am Jun 16, 2017 3:24am
Quoting staurum
{image}{image}
You're entering on Limits not manually with PA?
  • #1,380
  • Jun 16, 2017 3:32am Jun 16, 2017 3:32am
once PA gives, i put pending orders (entry, stops, & tg) because i'm not always around to watch it. I check every hour or two-hour.
but sometimes i'm there to watch price dance in the zone i want to trade.
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