LeMercenaire wrote:Played ''bouncy-bouncy'' for the rest of the arvo on the same DAX-Monster. Fun-fun-fun...
Hi Lem, still learning....
I saw that you are using exclusively S/D levels for your trades. I my short experience they are most precise for tp and sl and combined with some breakout strategy for entering an London or NY open.
Are you drawing them manually as Sam Seiden or other technique. If you trade on 5 or 1min TF what TF you consider for drawing major s/d zones at which you expect major reversals and considering puting TP or SL's.
I have a lot more questions for you
...but will question lately, not to tire you.
Yeah, I have progressively become more and more keen on the S+D Zones. I now use them on all of the methods in my stable.
I can draw them myself - I always figure that the best way to understand the engine mechanics of something, is to get under the hood and get your hands dirty. After that, you can happily sit back and let the machine do its job the way it was designed to do.
Right, I've stretched that metaphor as far as it can go without snapping it completely, lol.
Anyway, to get back on track - I can draw them but I now rely on the indi to do the legwork. This is not the first one I have tried - and to be fair, there was nothing particularly wrong with the others - but this one does everything I need. It does have some bells-and-whistles in there but I don't use them.
It draws the zones for whatever tf I have open on the chart at the time.
I will look for my trade set-ups on the H1, then look up higher for directional bias info. From there, I will drop down to the low tf for my entries.
I find that what I call the ''micro-zones'' of these lower time-frames are more fluid and prone to ''blow-through'' but that's acceptable, as I already have my directional preference set at this point. All I am looking for now, is a zone to bounce off of. If price is sitting in between a Supply and a Demand Zone, then I will wait until it makes it up (or down) to one or the other. If there is too much distance between price and one of these micro-zones, then I will leave it alone.
You will find that in these cases, it is likely that this will be one of the times when you will have price either blow-through or at the very least enter deep into one of the zones on the higher time-frame before turning (if it does at all).
I'll leave you with that for now - sorry, it kind of turned into a novel, or at least a short-story, lol - so you can mull it over for a bit. However, I have no problem with you asking as many questions as you like.
I don't pretend to be any kind of super-expert on S+D Zones - as I said, I just get out of it what I need - but I'm certainly happy to answer any questions you may have on the way I make use of them.
I never tire of talking about trading