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

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PTG
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Postby PTG » Mon Oct 26, 2009 11:33 pm

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

http://www.youtube.com/watch?v=J5kBqrHphjo
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Postby lukx » Tue Oct 27, 2009 4:21 am

Thanks Deieslbou, good luck with your trading!

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

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Postby lukx » Tue Oct 27, 2009 4:28 am

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

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Postby lukx » Tue Oct 27, 2009 4:36 am

and explanation what I saw:
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Postby PTG » Tue Oct 27, 2009 6:21 am

lukx wrote: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.
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Postby PTG » Tue Oct 27, 2009 6:35 am

lukx wrote:and explanation what I saw:
Image


Where is your support area ?

You will see price go from one to the other area.
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Postby PTG » Tue Oct 27, 2009 6:38 am

Here is what I see:

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Postby lukx » Tue Oct 27, 2009 7:10 am

SL got hit on spike down:
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Postby PTG » Tue Oct 27, 2009 7:25 am

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

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Postby adaseb » Tue Oct 27, 2009 7:26 am

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.

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