Supply and Demand with Momo

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withnail
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Postby withnail » Mon May 21, 2012 4:36 pm

Nice trading pro. I like the S / D absorbed thing, S&D works much better when you look at it that way, price has shown it can go lower or has potential to do so (D or S tested / absorbed). Enteries are looking good how about going for bigger targets? Just looking at your GU entry for example. Cheers Withnail.
1. Big loss, 2. Small Loss, 3. Big Win, 4. Small Win --- just prevent 1.

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Postby Pro Trader » Mon May 21, 2012 8:16 pm

withnail wrote:Nice trading pro. I like the S / D absorbed thing, S&D works much better when you look at it that way, price has shown it can go lower or has potential to do so (D or S tested / absorbed). Enteries are looking good how about going for bigger targets? Just looking at your GU entry for example. Cheers Withnail.


Thanks. I guess it's a little odds enhancer I use. Yes you can miss out on a few pips but I like the confirmation.

Yes I need to work on the targets. I like GU to go higher but it had been ranging for a while plus with the weekend close coming up I was being cautious. There was a second opportunity to enter today off the same line with a HL but I wasn't around for that.

I like the EU and USDCHF trades you took. I had both levels marked and I was waiting for an entry but I wasn't around when they took off either. Next time I guess.

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Postby Pro Trader » Tue May 22, 2012 9:05 pm

EU

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USDCHF

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AU

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NU

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Postby Pro Trader » Tue May 22, 2012 9:17 pm

Just when Withnail was talking about holding for longer...

The EU and swissy would have come in nicely had I held from last night.

In fact looking at the charts there were more opportunities to enter as demand was absorbed on EU, rallied but failed to post a new high. Then came the drop. Same thing on AU and NU. After my exits coulda flipped for the shorting.

I'll definately be watching for the levels being absorbed on the HTFs as well as the 5m for larger moves.

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Postby withnail » Wed May 23, 2012 2:56 pm

Hi Pro,
The EU short was in the weekly wick .. something I never used to pay any attention to , until I looked back over my past trades and saw what happened afterwards sometimes. Worth trying for near the average weekly range maybe if your off the extreme maybe. I ment the GU short you did it has moved a long way since then and was at a yearly extreme I think. Just a thought don't want to stick my nose in.
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Postby Pro Trader » Wed May 23, 2012 7:21 pm

Yes looking back there are LH's on the daily and weekly adding confluence to the EU short.

GU was also coming off a daily supply. I will be sure to pay more attention to big move potential in addition to the smaller trades.

Please continue to post your thoughts. Feel free.

Thanks

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Postby Pro Trader » Mon May 28, 2012 8:36 pm

AU

Image

Image

USDCHF

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Image

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Postby Pro Trader » Thu May 31, 2012 5:03 pm

Couple shorts off GU today. Missed the major move though.

30m demand was taken out in my inital short.
Buy orders below that at what I marked as H1 demand got absorbed after my 2nd short. I left the charts after that and didnt look back till much later.

Thinking about it now, and Sam Seidens odd enhancers, the H1 level I had marked is not a quality level as price spent too much time there initially. So one could reasonably expect price to fall through without much problem as it did.

We are also still down off that Daily supply.

30m

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H1

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5m

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Postby Pro Trader » Thu Aug 02, 2012 5:14 pm

GU

H4

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H1

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15m

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Postby bettlebox » Sun Aug 19, 2012 4:02 pm

Hi Protrader

this what i like to do on 5mins once im in a trade. Its based on orderzones happen at all levels and :-

For a short position the logic been all demand areas with fail and all supply areas will hold.
Attachments
how i see it.jpg
5min example
how i see it.jpg (80.56 KiB) Viewed 879 times
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