hehehe +125 pips.
thankes pipdawkter Trueman23 and OuttogetthosePips
Maryo, did you enter manually for this gold or not, because it did not trigger your entry ?
The what how and when
I will attempt to broadly wrap this up for you pip thirsty peeps.
What we are looking at are supply and demand zones not to be confused with support and resistance. Yeah you heard right, they’re fundamentally different. No need to dwell into it though.
These zones get created when demand exceeds supply and the other way around. Think like everyone is crazy for that 40inch uhd television on black friday down to £200. Thats a no brainer right? and as usual once its gone its gone. Believe it or not the same thing happens with forex rates and we can see that on the charts. Just pretend the fx rate is the telly. But how does that translate into the charts and how do the price dynamics look like? keep reading , all we established is the nature of the business so far.
How can we see those significant price zones on the charts? Simple scan for consolidations on any given timeframe any instrument. followed by a clean breakout with several monster candles. thats a supply or demand zone. which tells us the telly went out of stock and now there is no reason to hang around. finally something visual, check the charts blw:
a few things to look out for;
-a clean and strong breakout is key, get this wrong and you’ll screw up the whole setup
-you want your consolidation to be short and sweet, under 5 candles about
-you identify your zone from the candle before the monster move and the low of the consolidation box
Now that you are all climaxing over the big candles, lets figure out when to enter. the pic is self explanatory
…i probably need a paddle boat now from all that drooling. anyway if you think oscillator oversold confirmations+price action+thingaminggy you like to throw at that chart go ahead and do that. but in reality you enter as soon price pierces the zone and stop loss behind that.
I know it feels like standing in front of a train entering without a signal but if the zones are drawn correctly your stop is protected by heavy loaded institution traders that created the zone to begin with.
that’ll be all. i give you a bonus on how to take profit, you cant hold on to a bargain position forever
hit me on twitter @zfxtrading if you want more clarification or like to see what i trade.
best
kas
With all respect to the OP of this thread, i felt a wrap up was necessary.
im sure he will find the time to elaborate further.
[QUOTE=“Kasravi;740652”]With all respect to the OP of this thread, i felt a wrap up was necessary. im sure he will find the time to elaborate further.[/QUOTE]
Great post and clarification
It seems as Maryo is like correct a large large majority of the time with his predictions. Should someone really expect 90% win rate with something like this. What have your results been?
I gotta give it to him he spots his supply and demands very accurately. If you get really good at it the sky is the limit. I use it all the time when I day trade otherwise I’d be dead
thx to kasravi for the given example…i thought maryo were using R&S Levels but your example open my eyes a little bit more …i will put this supply and demand zone into my own analyse step by step…hope sometime i will get maryos and yours accuratelity …im very impressed guys
keep it up
No probs mate. The best way to familiarise yourself with the zones. backtest your chart from front to back. Point out those sharp reversals and seek out their origin. You get to see what a quality zone looks like.
Hi kasravi,
I agree with the other posters. Excellent wrote up and analysis. I used to post in your z trading thread and I always found you kind and helpful and genuinely interested in helping people…wonderful qualities.
I’m not on Twitter but I will be and I will find you.
I’m the meantime Have a great Wednesday.
Padraic
very good…
It doesn’t seem to be as straightforward as Kasravi is putting it. Although I believe him that it is the main concept, I have been trying to review Maryo’s charts posted and honestly can’t see any clear pattern for entering the trades. Maybe I’m missing something
