[quote=John P.;57458]Thank you both for your valueable time. I feel a responsive reply perculating, but am going to give it a day to re-read and think it through.
Its somewhat striking that the topic of this thread is so rare on forums like this one. I am not exactly sure for the reason, given its relative importance. Perhaps supply/demand doesnt sound as sexy as a Rainbow this or Monte Carlo that?
Yes its partly that. Also because indicators give a false sense of knowing something and appear easier to use so the more of them the better! This is despite oceans of statistical data showing they are relatively useless. Yet what is so difficult about trading the price action. If it bounces in an area of supply then buy it and if it falters in an area of demand sell it. The higher the timeframe and the more times its been there the more important a level it is. Not exactly rocket science. Put together some simple strategies that allow you to execute at those levels and count the dollars (preferably AUD given the state of the greenback)
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