GBPCHF confirming with the USDCHF
D1 TF
SHORT FROM SUPPLY ZONE
CADJPY bouncing off the downward trend line along with a doji candle. Shorting it one the candle closes.
Any and all feedback, questions, critiques are welcome to the above charts posted!
Hit Stoploss
Hit Stoploss
Stoploss again!
Not a good week for me. Will be taking a break for the rest of the week! Fiuhhh
Only risking 5% overall so it wasnât too bad.
Anyone has any inputs on why the trades I took were a bad idea, then please feel free to share and critique my charts!
Thank you!
*In Supply and Demand we trust!
Hey r2 that GBP movement was really something, I still think USDCHF is due to come down I havenât entered but will continue to watch it this week.
USD/JPY been looking at this all week, price is nearing strong supply zone on the daily. RSI is about to cross over in the OB zone, and we are seeing some resistance at the 50MA. Assuming the G7 meeting doesnât do something crazy this weekend this should be a nice setup for the coming week.
I have my entry for short set at 111.00 about 7-8 pibs below the supply zone, my reason is that we may not see the zone even get hit before this drops, Also I think round numbers are magical. I seem to have a habit of lining up my trades with strong news event ( I donât know why lol) so do take that in consideration.
@r2 , pls post your indicator or template
Will post some charts that I will be looking at for the coming week. Took a much needed short vacation. Ready to get back at it!!!
Usdchf
d1 supply zone
Thatâs all I have got for this week. Will add more if I see anything approaching my S&D levels.
Please feel free to share your charts on here!
Happy piping!
Hi Menek,
I had downloaded the template from the below thread. Not sure what page no. it was on though! This thread is an excellent read for S&D traders so, have fun!
Supply and demand in a nutshell by Alfonso Moreno @ Forex Factory
Still got my eyes on that USDCHF too, its getting closer to that 1.000 mark which is undoubtedly a great psychological barrier
USDCAD will be on the sidelines for this one, gave my profits back and then some last week. CAD acting weird, not correlating to Oil comeback, maybe there are some underlying moves to line it up for the upcoming rate decision.
Anyways good stuff R2 thank you for your posts!!
[QUOTE=menek;766763]@r2 , pls post your indicator or template[/QUOTE]
Hi Menek
Here is the indicator I use for Supply and Demand zones which is the Sam Seiden indicator.
I would be very very careful with any CHF trade as the Swiss regularly intervene in their currency. Personally I never trade it because of that.