Learning supply and demand. All welcome!

Beginner Questions
1

Hi guys,

Started to trade with supply and demand zones this week (a kind of price action IMO) and so it’s pretty good. Indeed, I did four trades this week and three of them are profitable. However, I closed a losing trade this morning because the pair failed to rebound from the support line I drew. However, I also realized that R Carter, a fellow member who introduced me to this method, is right. It really seems that a S/R level is more likely to be pierced through it’s already been tested for a few times before.

My hypothesis for AUDNZD is in this image.

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Thanks for your help!

Wllen1

2

Greetings Wllen1,

There’s an old school thread that I think you might find interesting called Alternative Technical Templates. It’s all about price action and identifying supply/demand zones, just like you. I think you’ll find it useful :slight_smile: Good luck and good trading!