Hey guys I want to start this thread to share my trade ideas. I trade price action concepts which are primarily hinged on supply and demand. There are other concepts that I use as well and I plan on creating a separate thread going into detail on my trading method which I am sure a lot of people will benefit from. This thread will show my decision making process and how I derive my bias for a particular pair. I hope you find value in this and continue to follow along 
and feel free to ask questions if you have any.
The first set up I want to share is a short set up that will unfold on the EURGBP. If this pair tanks from that weekly supply, the pound will really start to rally hard. This is one of those trades that can make your whole year if you plan it out well.
We have just been grinding up for the past few weeks without really making any deep retracements. Meaning a big pain trade is coming for those who are long because there is tons of liquidity to target on the downside. Structures like this are my favourite to trade because of how sharp the down move tends to be. I already have a long position in play on the GBPUSD to take advantage of the EURGBP weakness thats about to take place. As soon as price gets to that area I will be waiting for a trigger to go short on the lower timeframe. I want to get a relatively tight stop so I can get the most R out of this. I have high conviction for this trade so I am prepared to take more than one attempt.
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@RicoDinero,
Welcome! Looking forward to your thread.
I am already short. Jumped in a bit too early.
tx for posting,
KC
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Nice, I trade PA also. I’m also looking to enter a short after price reaches that top level resistance
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Yeah its a little early at the moment. Its better to wait for it to breakdown from the weekly level before entering short
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I tend to try to anticipate the top or bottom and end up getting in too early. This is something I have been working on.
KC
its gonna come together brother!
I’m also into PA. Looking forward to learn from you and thank you for sharing!
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Hey guys just an update on this EURGBP chart I posted a week ago. Not much has changed, we have just been slowly grinding higher. I took my first short position last week and at first it looked very promising and it started to sell off but I got stopped out. Here’s what the chart looked like before I went short. I used a 4 hour demand zone as an entry.
We have just traded above the yearly open yesterday and if we continue to get closes above the yearly open, we might not get that down move. From a structural point of we we are still below that key resistance area so it would not make sense to go long at these current prices. If you want to go long the best play would be to wait for price to trade through that resistance zone and retrace. At that point it would make sense to look for an entry and look for continuation higher. If price does that I think it will confirm that flows for the year on this pair have turned bullish. I must say, I would genuinely be surprised if this pair manages to rally through that resistance without any significant pull back though. In my experience when the market moves in one direction for this long a pain trade in the opposite would normally happen but we cant impose what we want, we have to trade what the market gives us. I will be looking for shorts again if we start breaking down below the yearly open. Until then, I am flat
So does your technical analysis involves use only of support and resistance lines (as can be seen from the chart)? Or you also use additional sources of data or charting techniques to determine points for entry and exit?
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I use a variety of other charting techniques. Depending on the market conditions I’ll either enter a level with a limit order(this is normally the case with supply or demand zones) or I will wait for price to reach an area of interest and wait for price to confirm the level will hold. I’d want to see a break in market structure on the 15min or even hourly or 4 hour candle closes that confirm my bias. All my trades are based on higher time frame levels only though but if I am looking to tighten my risk I’ll wait for a trigger like the ones I’ve previously mentioned that confirm my bias. The monthly and weekly open also are very important for my trading decisions as well.
Have you tested your approach on historical data to make statistical validation of your trading hypotheses? Without this your approach looks a bit subjective lacking solid theoretical background.
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Great thread! price definitely at a very significant level
on weekly, and ten consecutive bullish candles, I for
one would not be going long! something’s got to give soon
If, or when I get a sell signal on my strategy I will be inclined to
let it run longer than my typical modest TP
Watching with interest
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I totally agree champ! Its all about waiting for a trigger at this point. We have more of an edge below the monthly open, so hopefully it gives us an entry where it will be easy to define risk
Definitely. My method is based on supply and demand trading with my own personal caveats I have added over the years.
This is one excellent thread. Thank you for sharing your ideas. I am certain that there are many traders who are exploring earning possibilities with price action. I hope that your thread will help them. Me too
