brettnchrism wrote:LeMercenaire wrote:Posted the H4 lead-in to this over on Daily Forex Trading and I let the 1-2-3 go but took the HOLO.
This was the lead-in...
USDCADH4andthefibs23rdmay18.png
H1 overview of the trade...
USDCADH1asHOLOoverview-didnttake1-2-3May23rd18.png
The HOLO entry - the move I took was the move back down in the centre of the chart. Leaving it longer gave me the backing of the Supply Zones...
USDCADM5tookastheHOLOlet1-2-3go23rdMay18clearerview.png
Nice trade off M5...what draws those supply and demand zones an ea or are you putting them in by hand?
It's a combination overlay of a couple of indicators. I used an outliner to show the zones a little easier for this post. I usually like them to sit back in the mix a bit more.
I always tell people to only start using indis for S+D once they are confident in their ability to draw them themselves. That way you understand what the zones are actually telling you and can make an informed decision as to which are the best to use (not all S+D indis are created equal!) and the strength of the information they are giving at any given time.
I use an II set-up and just Glooble ''Best Supply and Demand indicator for mt4''. Try a couple and see what fits. You'll feel better having made the journey and done the research yourself.