is...(Becoming one of the Smart People)
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I've got the tick chart up now, interesting. It's my understanding you can run tick charts on MT4 but its not a simple process? Could a tick chart run with the SD zones?
Thanks for the tips SG, going to pursue this direction, I think it will be time well spent.
Hey SG the more I look at these HA lines the more they talk to me. I think a guy with a big pair could turn the candles off and score some huge moves on 4hr and 1hr charts. I'm thinking there is a lot of noise in candles, candles could be something throwing the retail trader off as well as indicators. Candles can really mess with your head if you let them. Red black black red, pin bar, hammer, hang man, engulfing pattern, well you know, when you mentioned you sometime use a line chart, I had to take a look at this. I'm going to put more energy in exploring trading without candles. Probably sounds pretty crazy to most traders, but small units let to run for hundreds of pips, no reason to exit the trade till you have a good reason. trailing a stop of course, Anyway just having fun with this thought processes.
Very Naked chart UCAD 4hr
Its very interesting, I'm obsessed with correlations lately, when you look at the correlation tables EU and ECAD move together in the bigger picture. When you put 4hr and daily charts of the two side by side it is crazy close.
Cool pennies, I have shorts on both of them, also looking at E/CAD, it has an +80% correlation with EU on the Daily and a 87% correlation on the 4HR. I'm surprised EU and ECAD have such a high correlation, ECAD has higher correlation to EU than EJ which is at +73% for daily. So market sees EU and ECAD to be very similar, still trying to understand the connection, very different economies, I know Cad is tied to oil, USD???
Yea bobby really impressed with mozilla for putting out this free download. Hope more companies step up with tools for web transparency.
Hey thinkbig, the weekly monthly pivot indicator I have also does the daily pivots, You can turn on or off any of the time frames, its very adjustable, colors mid levels etc. This indicator was emailed to me buy a guy on another forum. I don't think you can find it for download. You may find similar ones. If you want to PM me your email I can send it to you, I never found the weekly levels on the ADR pro that useful for me, not sure what version. But price really respects the weekly monthly pivots on the 4hr were I use it.
Alfonso's supply demand indie has an alert, I haven't used it, but now that you bring it up I'm going to try it out. An alert for when price enters the zone would be really nice.
Guys, new download by Mozilla will let you see who is looking over your shoulder while you are on line. Thought since the web is our main tool for trading this was important. Will be giving this a test run soon,
http://www.independent.co.uk/life-style/gadgets-and-tech/news/mozillas-lightbeam-tool-will-expose-who-is-looking-over-your-shoulder-on-the-web-8902269.html
Good day SG, was just looking at some correlations. Really been into correlations lately. NU has an -85% correlation with UCAD, NU is about 50 pips from a 4hr demand zone, so that adds strength to your thoughts UCAD may turn at 1.05 which is about 50 pips away.
I have been playing with weekly and monthly pivots on my 4hr chart and have noticed that the zones often form right on the pivot or the pivot runs right through the zone, droping to a lower time frame 1hr or 15 min and changing to daily pivots noticing the same happens, seems to happen too often to be coincidence. It seems with these pivots you can anticipate were the next zone may occur.
Also wanted to share this, I was looking for a way to incorporate HA candles on my chart and found this Heiken_Ashi_smoothed_Alert_Lines indie. Instead of candles it has MA type lines, I checked it against HA smoothed candles and the cross occurs at the color change of the candles. I'm liking it alot. It also has a pop up alert for the cross.
Here is a chart of the 4hr Beast with HA lines and weekly, monthly pivots and there relationship with the zones
Nice chart pileit, I'm short here as well, sure looks like a high probability for a nice drop.
loving zone tradeing, my TP for EN just got hit for 76 pips. Hopeing it moves back to supply zone will short it again.
Great chart pennies, best of both worlds, I'm short here,May add if price moves deep in the supply zone, This line up well with your GU chart, GU & EU show a 91% correlation right now on the daily TF.
OK thanks for explanation.
Hey pennies using your start here template from the drop box. I've been gone a week and trying to get caught up. I noticed you and SG had a conversation about which auto draw was best the supdem or Alfonso's. did that get resolved with this start here template? So this template is using supply_dem_zone with the floating labels turned off and rectangle reader I think. I'm going to use this, for now, other than changing a few colors.
Also had a question about the fractals and there value, have not used fractals before, what are they giving us here?? I'll search online as well and see what I learn about fractals.
Having a template for each pair pennies is a really interesting idea, would have never entered my mind. Great to have a couple of really experience FX minds, you and SG sorting out this supply and demand setup. I'm paying close attention here.
Thats really interesting SG, thinking I just might narrow my focus down to a few pairs, and trade a little larger position. I'm really conservative with position size in relation to my account size, It keeps me out of trouble and allows me to add if appropriate. However percent increases are much smaller.
SG I'm having great success with the supply demand zones, can't thank you enough for bringing it to the board, These zones have turned the FX corner for me. For the first time in my two years of trading forex with a live account I feel like I knows what I'm doing, I FEEL LIKE I KNOW WHAT I'M DOING, Yahoo, And I know why I'm doing it. I'm looking at longer time frames SG, works best for me I've tried them all. I just trade 4hr charts and use limit orders now exclusively on or in the zones. I often split my position and place one order a couple of pips before the zone and the other well into the zone. Im setting a TP of 30-50 pips depending on what the chart looks like and how much the pair tends to move. Its a really great way for me to trade, check in with charts every four hrs, and I'm making pips. I also know it will evolve and improve as I get more experience with it. But already more confidence than I've ever had trading.
got back in Ecad on Sun night, still in up about 50 pips. going to let it run a while. Check out AJ on the 4 hr. have gone short here 88.6 retrace in the fresh 4hr supply zone
Hey stk, here is what I'm looking at on EJ. supdem is drawing in a supply zone here but it has already been breached, I've hand drawn above one I think is more relevant, this is where price fell off and gaped. I'm thinking the green supply zone I have should hold it. I'm planning to add somewhere in this area but haven't yet.
Just may take a position here before bed. Love the charts. Then I compare to mine.
Nice chart, I'm in, looking for a drop. Yea this new format makes it difficult to view the posts. It really sucks.
I have a 4hr channel on my chart, if it hits the bottom channel looks like around 1.4020 if that trend line holds "if"
stk, EJ and NJ have an 83% correlation, not quite in lock step but they should move together the same direction. When I look at NJ it is right at its next 4hr supply zone. Makes me feel a little better.
I am, I got out early this morning with just a few pips and then entered short again this afternoon.
I'm on the wrong side stk, taking a little heat, I see the 4hr supply zone has evaporated in to thin air. I have a small position, so will place another limit at the next 4hr supply. Looks like its making a beeline for it. Actually on second look there could be a supply zone that SUPDEM didn't draw at 1.3350 to 1.3392. I just hand drew it, I think its valid. But then that's what I want to see LOL
What in the H#ll, This sucks, What are they thinking, anyway my EJ short limit order just got hit at 133.00
Like EJ in this area on 4hr stk, Have a short limit set for 133.0 in middle of supply zone. It is over its ADR today, Unlikely to get there today, but you never know.
Limit orders have helped me a lot with that, I tend to get in to early and out too soon. Sunday night I set up 7 limit orders at the zones. Three of them got hit this week for some nice pips. One this morning I woke up to for 43 pips on EA set on Sunday. Still have 3 pending. Going to incorporate them more and more with this zone trading.
OK going to tread lighly. Daily on EU looks pretty bearish to me, but I can see where it could make another trip in to the daily supply zone to 1.3650 to 1.3700 that would be short city.
Short ECAD one more time, at least, you did say it was going much much lower. in at 1.4045 tp at 78.6 retrace
I have 1.4338. I took profit a little before had to leave for work, so just took the pips. What is cool is I set this trade up Sunday night, and just waited for the limit order to get hit.
Hey estimator, I really like the 4hr, have been doing well with it. I have my tp at the 23.6 retrace, Just netted 43 pips.
EA 4hr supply zone. Had limit order hit at 1.4290 Up ten pips so far.
SG this is fun. Had two orders in ECAD hit my TP last night for 65 pips and 40 pips. For the first time now trading forex I almost feel like I know what I'm doing, and more importantly why I'm doing it.
I have ECAD TP 1.4010?? Should I be looking for more??
nice entry pennies, now it can tank, it was just waiting for you!!
Like your chart, hope your right. I'm in ECAD averaged in too positions. my 1.0475 limit got hit.
My second ECAD limit just missed by 1/2 pip.. I hate that, hoping it will move back up and tag it.
ECAD 1st short triggered at 1.4050, second limit set at 1.4075. If that doesn't work will devise a plan B
ECAD closing in again on Supply zone. very close