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Ollio's Gold - Supply and Demand

  • #821
  • May 4, 2015 6:30am May 4, 2015 6:30am
Quoting tripr
{quote} good point Jack, however, you would not be filled on the short though as of yet.
That doesn't matter to me, I do not chase trades.

I wait for optimal entries.

As I have mentioned in an earlier post, you can always choose to pre-empt the trades as long as you are comfortable with the RRR. When you pre-empt trades you always do so at the expense of leverage (i.e. you must lower your leverage, therefore reduce your profits).

What is far more important to me is that you do not misinterpret the charts!
Using the FIA, traders need only "Sell the Highs" & "Buy the Lows".
  • #822
  • May 4, 2015 6:37am May 4, 2015 6:37am
Quoting jackeollio
{quote} That doesn't matter to me, I do not chase trades. I wait for optimal entries. As I have mentioned, you can always choose to pre-empt the trades as long as you are comfortable with the RRR. What is far more important to me is that you do not misinterpret the charts!
excellent advice and point taken !
  • #823
  • May 4, 2015 6:49am May 4, 2015 6:49am
Chart #2 Post #810 http://www.forexfactory.com/attachme...3&d=1430740052

Notice the new Retracement level on the 8 Hour @1182.24.
Using the FIA, traders need only "Sell the Highs" & "Buy the Lows".
  • #824
  • May 4, 2015 6:55am May 4, 2015 6:55am
Quoting jackeollio
Chart #2 Post #810 http://www.forexfactory.com/attachme...3&d=1430740052 Notice the new Retracement level on the 8 Hour @1182.24.
but only 5min left to new H8 candle, shouldn't we wait?
  • #825
  • May 4, 2015 6:57am May 4, 2015 6:57am
Quoting airmac
{quote} but only 5min left to new H8 candle, shouldn't we wait?
I'm not sure what you are saying.

If you are already in the trade, you could lower your Stop Loss at the Retracement level @1182.24 on the 8 Hour timeframe.

At this point, I was not suggesting you enter new trades or scale up your trades.
Using the FIA, traders need only "Sell the Highs" & "Buy the Lows".
  • #826
  • May 4, 2015 7:01am May 4, 2015 7:01am
An answer I was looking for, thanks
  • #827
  • May 4, 2015 7:22am May 4, 2015 7:22am
Chart #3 Post #810 above http://www.forexfactory.com/attachme...4&d=1430742238
Using the FIA, traders need only "Sell the Highs" & "Buy the Lows".
  • #828
  • May 4, 2015 7:23am May 4, 2015 7:23am
Quoting jackeollio
Chart #3 Post #810 above http://www.forexfactory.com/attachme...3&d=1430742071
we have an active consolidation between 1181.71 and 1182.76, and H4 in very tight zone, no setup
  • #829
  • May 4, 2015 7:25am May 4, 2015 7:25am
Quoting airmac
{quote} we have an active consolidation between 1181.71 and 1182.76, and H4 in very tight zone, no setup
I have now replaced this chart with the latest one ...
Using the FIA, traders need only "Sell the Highs" & "Buy the Lows".
  • #830
  • May 4, 2015 7:28am May 4, 2015 7:28am
Chart #4 Post #810 above http://www.forexfactory.com/attachme...1&d=1430742426

Both the 2 Hour and 4 Hour timeframes now indicate a Short market.

They both indicate possible trade setups for a Short entry.

(1) on the 2 Hour, we have a Short entry between 1182.23 and 1182.78 with a Stop Loss above 1183.06 and Take Profit @ or near the Demand level @1175.85 on the 8 Hour timeframe, OR

(2) on the 4 Hour, we have a Short entry between 1181.62 and 1182.76 with a Stop Loss above 1183.06 and Take Profit @ or near the Demand level @1175.85 on the 8 Hour timeframe.
Using the FIA, traders need only "Sell the Highs" & "Buy the Lows".
  • #831
  • May 4, 2015 7:30am May 4, 2015 7:30am
Quoting jackeollio
{quote} I have now replaced this chart with the latest one ...
Short between 1181.71 and 1182.78, stop loss above 1183.06 targeting area 1175.79 (H8 demand), RRR should be ok

Below 1180.02 Day becomes short so we expect H8 demand to be breached
  • #832
  • May 4, 2015 7:33am May 4, 2015 7:33am
Quoting airmac
{quote} Short between 1181.71 and 1182.32, stop loss above 1183.06 targeting area 1175.79 (H8 demand), RRR should be ok Below 1180.02 Day becomes short so we expect H8 demand to be breached
it's a sideways market going nowhere at the moment. choppy. i'm out.
  • #833
  • May 4, 2015 7:42am May 4, 2015 7:42am
Quoting tripr
{quote} it's a sideways market going nowhere at the moment. choppy. i'm out.
I took a short, problem is I have 50 pips spread on my broker so more wiggle room needed
  • #834
  • May 4, 2015 7:44am May 4, 2015 7:44am
Quoting tripr
{quote} it's a sideways market going nowhere at the moment. choppy. i'm out.
What we are seeing on Chart #4 Post #810 above (i.e. http://www.forexfactory.com/attachment.php?attachmentid=1667381&d=1430742426) is the following:

(1) on the Day, the market remains in it's consolidation zone between the Short level @1188.82 and the Long level @1180.02 (this is what you call a sideways market),

(2) on the 8 Hour, the market is Bearish below 1182.86 towards Demand @1175.79,

(3) on the 4 Hour, the market is Short below 1181.76,

(4) on the 2 Hour, the market is Short below 1182.78.

So, relative to the Day you are right to say this is a "sideways" market but not so when one considers the lower timeframes.

The Day remains in consolidation for only as long as it remains between these two values (see (1) above).
Using the FIA, traders need only "Sell the Highs" & "Buy the Lows".
  • #835
  • Edited 8:03am May 4, 2015 7:48am | Edited 8:03am
Quoting jackeollio
{quote} What we are seeing on Chart #4 Post #810 above (i.e. http://www.forexfactory.com/attachment.php?attachmentid=1667381&d=1430742426) is the following: (1) on the Day, the market remains in it's consolidation zone between the Short level @1188.82 and the Long level @1180.02 (this is what you call a sideways market), (2) on the 8 Hour, the market is Bearish below 1182.86 towards Demand @1175.79, (3) on the 4 Hour, the market is Short below 1181.76, (4)...
we shall see what happens. stay thirsty my friends. i'm long gold now. could see 1200 today !
  • #836
  • May 4, 2015 8:02am May 4, 2015 8:02am
Chart #5 Post #810 above http://www.forexfactory.com/attachme...1&d=1430744366

We now have a reversal on both the 2 Hour and 4 Hour timeframes.

Positions are now Long with initial Take Profit target set at the Short level @1187.65 on 8 Hour timeframe.
Using the FIA, traders need only "Sell the Highs" & "Buy the Lows".
  • #837
  • May 4, 2015 8:03am May 4, 2015 8:03am
Quoting jackeollio
Chart #5 Post #810 above http://www.forexfactory.com/attachme...1&d=1430744366 We now have a reversal on both the 2 Hour and 4 Hour timeframes. Positions are now Long with Take Profit target set at the Short level @1187.65 on 8 Hour timeframe.
hm, the move already happened

We also broke other levels, H8 long now, taget daily supply?
edit: already there also
  • #838
  • May 4, 2015 8:05am May 4, 2015 8:05am
Quoting jackeollio
Chart #5 Post #810 above http://www.forexfactory.com/attachme...1&d=1430744366 We now have a reversal on both the 2 Hour and 4 Hour timeframes. Positions are now Long with initial Take Profit target set at the Short level @1187.65 on 8 Hour timeframe.
the 8 hour should reverse too. too late though, the move is well underway. maybe it retraces for those who missed it. i'm long from 1182.80
  • #839
  • May 4, 2015 8:06am May 4, 2015 8:06am
Chart #6 Post #810 above http://www.forexfactory.com/attachme...0&d=1430744711

Notice on the Day the application now posts Supply and Demand levels.

Our target for Long positions is now near or @ the Supply level @1193.69 on the Day.
Using the FIA, traders need only "Sell the Highs" & "Buy the Lows".
  • #840
  • May 4, 2015 8:09am May 4, 2015 8:09am
Quoting tripr
{quote} the 8 hour should reverse too. too late though, the move is well underway. maybe it retraces for those who missed it. i'm long from 1182.80
You already long from 1182.80? I don't understand how you can be long from there
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