aus1way replies to: C-12’s Supply, Demand and PA thread

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Nice trading C-12, madboy and Rinehart.

I also trade S-D setups, usually taking my entries off the M5 or M15 charts but always looking at the higher TFs for context and direction. I’m trading on demo for the moment while trying to improve. I always try to take trades that have the potential of a high R:R either because it’s already in the direction of the higher TF trend, or that it’s at a higher TF S or D zone and therefore a reversal setup and possibly the start of a new trend and big move.

My weakness atm is I’m not letting my trades run. I get out too soon when it retraces. I need to get better at trailing my stops and not setting a TP and just letting them run.

Here’s a trade I took Friday with GU. Price was at daily supply and I did a good job of finding the top based on the M5 PA and then a second entry at the breakout of the double top “M” pattern. So very happy with my entries but very disappointed that my fear took over at the congestion and I closed it at the bottom of the range. There’s no point in me working hard to find the top of a reversal if I’m going to close it so soon! In my defense, I didn’t want to hold the position over the weekend and I felt that price wasn’t going anywhere quick.

Click to EnlargeName: gbpusd-m5-trading-point-of.pngSize: 51 KB

Anyway, I’m glad you’re back C-12 and that this thread is alive again. I’m looking forward to contributing.

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