Greetings fellow traders!
I am going to use this thread to share trades using supply and demand for direction and momo for confirmation and entry.
How I trade is pretty much a mixture of Sam Seidens teachings on S+D and what I have learnt here on Kreslik re momo and zlines etc.
My entries are largely based on Dragons strategy but I have many here at Kreslik to thank for my trading knowledge TRO and MO to name a few.
I'll post when I can.
Please feel free to comment
Supply and Demand with Momo
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The basic setup.
I look to trade from H4 and or D1 supply and demand levels.
Ideally I like to see a little bit of basing and a huge rally for a long or huge drop for a short.
I'll mark the level and wait for price to return to it.
When it does I wait for a H4 momo or SSH4 (Same Size H4 candles) to leave the level.
Next I wait for the zl or 50% of the H4 momo or the 50% of the SSH4 to be tested and rejected. I then want to see a H1 momo or SSH1s in my direction.
Next I wait for the zl or 50% of the H1 momo to hold or the 50% of the SSH1s.
Entry is after a 15m M or SS15m candles form away from the H1 level.
A picture tells a thousand words so here's todays trade.
USDCAD Long
H4
H1
15m
Oh and I use the USDX when trading USD pairs for added confluence see below
USDX D1
USDX H4
I look to trade from H4 and or D1 supply and demand levels.
Ideally I like to see a little bit of basing and a huge rally for a long or huge drop for a short.
I'll mark the level and wait for price to return to it.
When it does I wait for a H4 momo or SSH4 (Same Size H4 candles) to leave the level.
Next I wait for the zl or 50% of the H4 momo or the 50% of the SSH4 to be tested and rejected. I then want to see a H1 momo or SSH1s in my direction.
Next I wait for the zl or 50% of the H1 momo to hold or the 50% of the SSH1s.
Entry is after a 15m M or SS15m candles form away from the H1 level.
A picture tells a thousand words so here's todays trade.
USDCAD Long
H4
H1
15m
Oh and I use the USDX when trading USD pairs for added confluence see below
USDX D1
USDX H4
Nice to see there is a new log to follow here I will be following along. I never traded UC so thought it would be good to try a markup inspired from your trade. This is what I came up with.
Nice trading Pro and keep up the posting.
Cheers Withnail.
Nice trading Pro and keep up the posting.
Cheers Withnail.
1. Big loss, 2. Small Loss, 3. Big Win, 4. Small Win --- just prevent 1.
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withnail wrote:Nice to see there is a new log to follow here I will be following along. I never traded UC so thought it would be good to try a markup inspired from your trade. This is what I came up with.
Nice trading Pro and keep up the posting.
Cheers Withnail.
Hey Withnail, good stuff there. Nice to see your take on things,
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GU was still long from that H4 Demand level as far as I was concerned because it hadnt hit any quality supply to make it turn south. The nearest decent supply was the one I marked up on the H1 so when I got another opportunity to long today, I took it.
USDX at supply on H4 and Daily added confluence.
H4
H1
15m
USDX
USDX at supply on H4 and Daily added confluence.
H4
H1
15m
USDX
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GU Long from the same Demand level as before
I've bought off this level 4 times since it formed.
With the USDX coming off D1 and H4 supply, no reason not to go long GU.
H4
H1
15m
USDX
I've bought off this level 4 times since it formed.
With the USDX coming off D1 and H4 supply, no reason not to go long GU.
H4
H1
15m
USDX
Last edited by Pro Trader on Thu Aug 02, 2012 5:08 pm, edited 1 time in total.
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- rank: 150+ posts
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- rank: 150+ posts
- Posts: 225
- Joined: Fri Jan 29, 2010 11:13 am
- Reputation: 0
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Todays Trades
I'll start with USDCAD as this was my trade of the day and biggest trade for a while actually.
As you can see a Red H4 closed below the Green H4 Momo but I still saw what I needed to see from PA thereafter to get me into the trade.
D1
H4
H1
15m
USDCHF
Not my usualy setup I must admit as it is not really from what I would call Demand. USDX was at demand and I got the go ahead so I took it. I wouldn't normally though.
H4
H1
15m
NU
H4
H1
15m
USDX Confluence
I'll start with USDCAD as this was my trade of the day and biggest trade for a while actually.
As you can see a Red H4 closed below the Green H4 Momo but I still saw what I needed to see from PA thereafter to get me into the trade.
D1
H4
H1
15m
USDCHF
Not my usualy setup I must admit as it is not really from what I would call Demand. USDX was at demand and I got the go ahead so I took it. I wouldn't normally though.
H4
H1
15m
NU
H4
H1
15m
USDX Confluence
Last edited by Pro Trader on Thu Aug 02, 2012 5:06 pm, edited 1 time in total.
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