LeMercenaire wrote:Leoheart wrote:LeMercenaire wrote:Ok, here's a couple of things that may (or may not) be of interest. Only you guys can say if it is or not.
There's nothing new or sparkly here but it is a basic grounding with a couple of things that may get you thinking.
This chart is from here:
https://dailypriceaction.com/forex-begi ... and-demand
You see where the chart is marked? Yep, pretty obvious, right? However, what is often missed is this - look left from those areas. See?
This is a second free site that contains some information you won't hear elsewhere:
https://www.forexmentoronline.com/the-o ... ing-guide/
Finally, have a look here:
https://www.tradeciety.com/the-6-golden ... nd-demand/
These three will be a good starting point to give a background to the concept.
Before you get reading, however. There is one thing that most new traders (and a good few not-so-new traders) don't get. The thing you most often hear spouted is that the idea is to wait for a bounce or rebound from an S+D Zone. Then, ''Eh? wth!!! Price blew right through that zone. What happened to the bounce? You talk a load of mince!''
Now, you see, the thing is, most think of the S+D Zones the wrong way. What you need to realise is that you should think instead of price being ''sucked toward'' the zones.
Pro traders will be trading the move towards a zone, not only waiting for price to get to it.
Anyway, that'll keep you going for now
If I had 3 thumbs, I would give them up here. As always, You are the 'man'. Lem, I have been thinking but too shy to ask I would love to learn how you tackled the higher TFs trades as a prop trader. Maybe start thread on that stuff for us humble folks?
Edit: In Red: What am I not seeing? Its a up trending Channel?
Another Edit: Look to the left of what exactly, what is reference point? Is it first red arrow on the left side of the chart.
I have considered a thread of some sort in the past. I don't want to rehash ideas from elsewhere, however. It would have to be something different. Still a trade-a-line approach, 'coz that's my thing now but it needs a new angle of some sort.
Also the problems with me talking about my previous work and by extension the long(er) time-frame trades I run now, is that so much of it made and makes use of prop software that although I still have access to and use, I would not be able to share or show images of.
I don't think it's fair that I am posting up trades without being able to show the full picture behind the entry decisions.
However, if I can think of a way to do so, then I will certainly consider it.
I am also looking at a method that is something new but I will be running it for a while before letting it see the full light of day. I won't be wasting anyone's time on something that ultimately goes nowhere.
Oh pretty please Lem. A thread on higher time frame trades from you would be the best thing ever. Even if you couldn't give the full picture, I would be happy with what you could share.
Also when you say that you make use of prop software for the trade, is that for trade management such as getting in and out of the trade, do to such large size or software that helps with your analysis.