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Disliked{quote} Hey I'm Alex. It's possible, a lot of people trade the core of what I do, but you'll find this method is different in a lot of ways. Like for instance, our ability to predict future PA To answer your questions, I will refer you back to my first post. We start by marking out areas of interest on our charts. Starting with the historical levels, because they are the easiest to spot. Have a look at any daily chart, and note the key reversal points (levels, at which price stopped in its tracks and turned the other...Ignored
DislikedLooking at a daily EU chart, 1.1150 was tested. It's an important level because it doubles as a psych number and demand. I would rather not take any longs today, because any rally would be shortlived. {image}Ignored
Disliked{quote} Perfect! You're getting the hangs of it ) Just one thing, that area you marked as supply on your H4 chart is not necessarily supply. This is what it should look like. And be careful, on USDCAD supply levels come from a daily chart on two occasions. What's more, CAD is very much correlated with Oil. So often times you'll see it behaving in a more specific way in terms of breaking out, because of that correlation. {image} {image}Ignored
Disliked+60 for the day over two positions, it's as simple as that. So far, we've seen two types of entries. First one was the entry during consolidation with a bias based on sound analysis of the market. The second one was in a more dynamic market environment, when there is increased volatility, and consolidations don't last as long, where price will most often dip back into an area of supply or demand before resuming on its way. A few more left, hopefully we will see examples in the near future. {image}Ignored
DislikedHi Alex, Thanks for the great info in this thread and for all your efforts. I have a question regarding how to draw supply and demand zones. You have shown in one chart of the first page that these zones should be drawn along the last opposite candle of a reversal. Later I see you draw them from close to high (demand) and in page 5 from wick (low) to open (supply). Please could you clarify? MostafaIgnored
Disliked{quote} Firstly, I wanted to thank you for your time to explain that, I must say thats a real essey... so the real SR must be on daily chart for the start. How far do you search for such level in the past? Regarding test of that highest/lowest candle before move. I understand your meaning the firstly you wait for candle to test that level. Which is the signal ? the candle wick touch and didnt close above or...? Thank you again in advance Alex, nice to know you I am MikeIgnored
Disliked{quote} I started off drawing everybody's attention to the last candle of opposite color before a rally or decline, which is a good start. We want as much precision as possible, so I am now narrowing down the sensitive area to the wick to body zone of that same candle. 99% of the time it will be the body, but there will be occasions where price will just tag the wick and turn around. It will eventually drop back down to the body, though. When we are in a trade, since we want to preserve our profits, we will target whatever comes first as a possible...Ignored
Disliked{quote} Am I right? {image} It is EURCAD different pair but the idea should be same (now blowed out up)Ignored
I STRONGLY ADVISE WE STAY FLAT DURING THE PAYROLLS.
DislikedI started off drawing everybody's attention to the last candle of opposite color before a rally or decline, which is a good start. We want as much precision as possible, so I am now narrowing down the sensitive area to the wick to body zone of that same candle. 99% of the time it will be the body, but there will be occasions where price will just tag the wick and turn around. It will eventually drop back down to the body, though. When we are in a trade, since we want to preserve our profits, we will target whatever comes first as a possible sup/dem...Ignored
Disliked{quote} So you would enter blindly at such level at the point? or wait there and see the PA?Ignored
DislikedHi I've been trading just a few months now, and I think your system is how I've basically been approaching trading, though I haven't been able to clarify it as clearly. Nonetheless I'd appreciate you reviewing my analysis to see if I'm interpreting the price action according to your system. Starting with a daily chart of the dollar index https://www.tradingview.com/x/BGfpqp7u/ 1. Lower supply area identified as 93.00-93.48 2. Upper demand area identified as 96.90-97.54 3. Price making higher lows and just broke through a resistance line....Ignored