Thread: Price Will Tell - Supply/Demand Price Action Trading

Originally Posted by ;

Gonna try sell EURJPY this day.

Ended up a late one.

There was a bearish gap around the daily open. Trade is only a small risk but took the retest. Could be stopped out quickly. Might go another way, however.

Originally Posted by ;

quote Ended up a late one. There was a bearish gap on the daily open. Trade is just a small risk but required the retest. Could be stopped out. Might go another way, nevertheless. image

T/P @ 130.92

Originally Posted by ;

quote T/P @ 130.92

Nice one - I overlooked the early Asian retest opportunity...

Originally Posted by ;

quote Nice one - I overlooked the early Asian retest opportunity...

It is testing quite an interesting historical supply on the W1/D1. Will be keeping an eye Daily closes for any bearish signs.

@Rudy

that I think I just realised why occasionally the price scale on some charts looks larger. I display grab the chart to annotate, other times I save the chart as a picture in MT4. Difference seems to lie there.

This was only based off place and the fact AU appeared like it'd been ranging. So I figured it would be a moderately safe entry back into the chop. I had had my eye.

Nice Response on GBPUSD! Will definitely be seeing for a retest up there

USDCHF Buying
The background of USDCHF demoned a willingness to buy on the back of a bullish engulfing Weekly candle. Marking up what's only obvious in hindsight.

H1

Originally Posted by ;

USDCHF Buying The background of USDCHF demoned a willingness to buy on the back of a bullish engulfing Weekly candle. Marking up what's just evident in hindsight. H1 image

Good one.

Daily looks quite interesting too.

Originally Posted by ;

Nice Response on GBPUSD! Will definitely be seeing for a retest up there image

Had a day or two away from the charts weekly. Back to (a basic multi-TF) analysis...

Until that W1 is broken, this pair is down for me W1 but I believe we've got to think about this S/R. Price has gathered there and left a demand zone:



Changing to Daily I see that scenario. As long as the market does not gap over 1.3268'ish on tonight's open we'll have new Daily supply. It all now really depends upon how price reacts at these various zones.

It's in a bit of no-man's land on Daily, however for me personally, technically D1 management is Up. That does not mean to say I would not sell it though. A retest of that provide (in case it prints around the open) can give a wonderful double-top type entrance for shorts. Price may not, however, test provide at all and instead meander down to examine these demands. At that stage, based on how it reacts, I'd look at buying.