{quote} You were too early on this one, demand is still holding. Also quite a weak zone overall.
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Thanks for the advice. Maybe I can just confirm my understanding.. is it true that as long as price moves 1 point beyond the max/min price of the supply/demand zone, it is considered a takeout? Or does it have to close beyond the zone?
{quote} Thanks for the advice. Maybe I can just confirm my understanding.. is it true that as long as price moves 1 point beyond the max/min price of the supply/demand zone, it is considered a takeout? Or does it have to close beyond the zone?
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Generally you want to see a bit more than just 1 pip, however that completly depends on the volatility and size of structure. Its all about eye to structure distance rather than fixed pip number, but overall break should be somewhat noticeable, price does not need to close over level to confirm takeout. Be however careful to not enter too quickly, usually its best to give price a little bit of time 10-30 second just to establish that takeout is not rejected (as somethimes price will break level but new order flow will push price back).
Alright here we go potential flagship play of the day AUDCAD. {image}
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Ending day here on flagship bake of dense supply takeout. Wanted to play it more aggressively by adding and scaling up to 4R on risk with few positions but spreads just didnt let me fill the orders so took a scale back and only let 2 positions on. 7R gain in total (doubled risk on this one).
Missed the main play of the day NFEC, had it on watchlist but forgot to recheck after structure developed more. Could potentially drop a lot more. {image}
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Missed two great short plays on NFEC yesterday. Should have paid more attention. As expected it droped a lot more from initial 2,70 drop.
(binned per thread starter's request) Market bottom rotation trad
