lukx zline trading log + cfabian p.35 + adaseb p.48

[PTG]

We're all here to learn I should think (I am..)

http://www.youtube.com/watch?v=J5kBqrHphjo

[lukx]

Thanks Deieslbou, good luck with your trading!

PTG, can we say that Demand=Support, Supply=Resistance ?

[lukx]

ok another day , let's get started:
long entry at blue traingle, red line SL, green line TP

[lukx]

and explanation what I saw:

[PTG]

Thanks Deieslbou, good luck with your trading!

PTG, can we say that Demand=Support, Supply=Resistance ?

Yes, but with a different idea behind it. What appears to be support and resistance are simply created because of the imbalance between buyers and sellers. When there are no more buyers left, price MUST come down and likewise with sellers.

[PTG]

and explanation what I saw:

Where is your support area ?

You will see price go from one to the other area.

[PTG]

Here is what I see:

[lukx]

SL got hit on spike down:

[PTG]

The spike reached down to 4 pips under the demand zone.

[adaseb]

Wow. Don't you hate when that happens. You were doing good. Went up 28 pips before stopping you out.

You got a good entry.

Who would of known there was long held profit by checking the M30 chart.