About meSupply and Demand Trader - have been through the mill with trading, tried everything thinking there was a holy grail indicator even coded my own. Price action and reading the chart is the only way.
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This set up gave a good result, I entered off the 1m and initially took a 1R loss on first entry then 2nd entry went on to hit target - doubt anyone actually saw or noted this ;) but least its on here now.
Back in to a Supply zone where price fell sharply, possible that there could be a reaction again from here and if so some Imbalance left behind on the 4hr to target?
By no means is this an area to blindly just click sell, use lower timeframes to identify a trend change and manage your risk :)
As I said in the analysis on NJ that the Supply Zone was not a signal to short if it didn't show bearish pressure and LTF change of direction then you adapt to market movement.
The zone was broken a retrace of 50% was completed and on a LTF there was a set up to go long, it reached the 1hr Supply at the extreme, again on LTF changed direction and entry was there....
Looks like a good area for shorts - lower time frame confirmation needed but with the major swing and retracement at the 50% level with a decent looking Supply zone on offer there's a good chance price could turn here.
This is not a signal to short we don't know if this supply will hold so don't blindly sell expecting it to go down, look for lower time frame...
Just a video breakdown of how I draw my charts up - I'm very inconsistent in posting on here but if I'm able to help even one struggling trader then I'm happy with that.
This is my breakdown mainly using the 1hr chart which is my king timeframe I take my trades off the 1m but I'm not going to be posting that level of analysis at the moment.
I hope this helps...
After the slow climb back up to the Hourly Supply and then a big drop on Friday 19th Nov where will next week take this pair?
I'd imagine quite a few are looking at longing now as there is plenty of space to make its way up if the Supply doesn't hold.
As usual with this pair it will whip around but keep the levels marked out and trade with the order flow.
This pair made a decent push up on Friday and it's possible that it will continue in the short term?
However I have my areas marked out and will trade in the direction of the market flow depending on when the markets shows it's hand.
I'd like to see a short term correction and then a move up which will then complete the Higher Timeframe correction and then an...
With that huge drop yesterday we should expect a correction but when? Its clear to see all the imbalance on that drop.
I've explained the process for my trades and what I look at - these are always areas I monitor and don't trade from them blindly.
Although I hit my target yesterday holding on to the trade would have returned great profit - something I need to...
Continuation south for GBPUSD at the moment, no doubt many are already longing this pair trying to catch a reversal but trade what you see not what you think.
I had a clear sell sign from my analysis yesterday and took a sell but only to the low which was still a decent 3.5R.
I have a Daily Demand zone marked out in which it's currently sitting.
Today I have my...
Areas I'm looking at for 28th September - Price is still in the range of initial push from Daily Demand and retrace below the 50% of that push.
For me the area its in now is showing a lot of selling - I'd like to see the supply areas taken out with candle body closure but ultimately it's the high of initial push that will need to be taken out.
This is what I'm looking at for a Monday, the initial push up had retraced to below the 50% then made a push up and at the moment has not made a lower low or broke the high.
I have my two structure lines and it's when those areas have a good 1hr Candle closure that i'll start looking at this a bit deeper
4hr view is easier for me today plus its Friday so who wants to work? ;)
New HH created based of previous LH break (for my trading style) if the low gets broken then we could be trending down - or no pullback below the 50% of the push up and a straight run right up to Supply then a reaction… who knows who cares?
Watch on lower timeframes for trend changes in key...
These are areas I have marked out for today on GBPUSD - there has been a big reaction the one hour demand zone.
If the highs get beat by price action then there's a chance of some upside movement.
These areas are NOT where I will click buy or sell they are for monitoring when price gets there.
Updating the movement of this pair in my last analysis after I said the drop to 1.38000 I would want to see a push up / correction and then possibly a change of direction to drop lower again to the unbalanced Daily Demand Zone - I have also marked out the 4hr Zone as well.
So far the push up has tapped into a 1hr Supply but has created equal highs and hit around...
With the fundamentals sending this pair above the daily level but only to a higher up 1hr Supply zone was clear that this stopped out loads with their sells on and stoploss sat at the high.
If you trade the Supply and Demand this should already have has you looking for longs as a previous Supply was broken.
I said that in order for this pair to be bullish it...
The drop to 1hr demand and the price did change in that area which is what I expected - although it was very choppy yesterday on its way back up to the 1hr Supply I'm not sure the drop is coming yet.
As much as I would love to see the lower areas of imbalance cleared out I will sit and wait for the right opportunity to present itself.
Note: If the Daily high...