Supply Demand EA

[fx800]

For anyone who is risk averse, just trade with the trend i.e. buy above 240ma, and sell below 240ma.

With so many pairs available, you will always find one to trade each day.

This is the reason why I have suggested adding 240ma filter as an option for the proposed ea.

[fx800]

An example of tradable pair next week. EURJPY trading within a range, triple top on the daily chart, overbought on H4. So, will be looking for a supply zone to sell from next week. A CT trade, so half the usual lot size.

Other yen pairs also OB on H4 stochs, so looking to sell from supply zones.

However, will be on the look out for any utterings from Kuroda, because they will distort the market. I trade with Bloomberg TV streaming live.

[fx800]

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This is Gold in the H4 chart today with a pin bar inside a supply zone and stochs > 80. Unfortunately, because of NFP, I did not take the trade today. A drop of $18.

[fx800]

This is off topic.

There is an old saying "Sell in May, Go Away, Come Back on St. Leger Day".

If you are trading equities or equity cfd (my main interest), watch out for a correction in the next fortnight as the stock indices are making triple tops. Ride the highs with tight stops and be ready to bail out when it happens.

For those of you who reside outside of the UK, the St. Leger is the last classic of the flat horse racing season held in Doncaster in September.

However, last year sell in May did not work, as the stock market rally continued from May to September. It can happen again this year with all the cheap money swashing around as the central banks continued with their competitive devaluation. It is the liquidity which is keeping stock indices at all time highs. The slightest hint when the easing is going to end, we will see a sharp sell off.

[fx800]

As I also trade NB 10.4, I am going to post 10.4 charts even though I am not using the CSS indi for trading. You can find the template in NB 10.4 thread. Just add the stochs (5,3,3) to the RSITMA window.

AUDNZD is on my watch list next week. H4 stochs is OB, waiting for price to enter the supply zone for a sell. See how many times PA hit the resistance zone and reverse.

PA is below 240ma, so it is a trend trade.

I also have the Linear regression channel on the chart, and it is reassuring to see that PA is trading within the channel. LRC indi attached below.

Just beware Entropy is predicting AUDNZD to breakout to the upside. So long as PA is trading below 240ma, I will continue to treat it as trending down.

[Anonymous]

GBPUSD stochs is OB, but I would be very reluctant to sell from supply zone next week because it is in a strong uptrend, and H4 PA is very choppy today. Wait for retrace to OS and buy from key support near 1.5400.
No trade for EURUSD next week, until the picture becomes clearer. Only choose A1 trades. In view of the rate cut by the ECB, the Euro is likely to trend below 240ma to 1.2954 support area.

[Anonymous]

I mentioned in an earlier post that another system is predicting AUDNZD breaking out to the upside. For this to happen, it has to break the trend line as shown in the daily chart below.

I have attached a useful tool AUTO-TRENDLINE below. Just put it into experts/indicators fold, re-start Empty4 and drag it onto a chart.

Save a template with Auto-trendline, so each time you want to use a TL, just use this template.

[fx800]

I would like to stress again that this method of trading is NOT SUITABLE FOR NEWBIES as quite a lot of discretion is required in deciding to trade a pair or not.

Newbies should start at Bob's 10.4 COMPLETE SYSTEM.

This is not saying that there is no point in coding this ea. You can always CHOOSE WHICH PAIRS TO TRADE. ONLY TRADE LONG/SHORT based on your knowledge gained from trading forex for a while.

THERE WILL NEVER BE A SET AND FORGET EA. Some human intervention is always required e.g. high impact news, when indicators will be useless, etc

[fx800]

I mentioned in an earlier post that another system is predicting AUDNZD breaking out to the upside. For this to happen, it has to break the trend line as shown in the daily chart below.

I have attached a useful tool AUTO-TRENDLINE below. Just put it into experts/indicators fold, re-start Empty4 and drag it onto a chart.

Save a template with Auto-trendline, so each time you want to use a TL, just use this template.

AUDNZD H4 and H1 charts with trendline.

Downtrend. H4 stochs OB. H1 chart - PA hit supply zone 6x and reversed. PA consolidating. A possible sell.

[fx800]

This is EURUSD DAILY CHART WITH 8 and 21 EMA. Very choppy and trading sideways.

PA bouncing off 21 EMA. Picture unclear. ? Buy from support and sell from resistance on H4 chart with stochs confirmation. Look for confluence e.g. a pivot, trendline, fib retracement, etc