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Identifying supply & demand zone for swing tradingIn this video, I am going to how you how to identify supply and demand zone as support and resistance levels for swing trading, as a continuation of my previous video - identifying support and resistance for swing trading video. Feel free to watch below if you haven't done so: There is one key factor that I pay attention to, which is the price spread. I would like to see big spread bar where the price accelerates to the upside or to the downside. If we have access to the volume, we will generally see high volume for those supply or demand bars. Those big spread bars will form the supply or demand zone.
DJ:DJIEducation
by mingjong
Identifying support and resistance levels for swing tradingSupport and resistance are essential levels for all traders in swing trading. Before one can start placing orders on the buy/sell side, these key levels will form the battlefield for buying or selling. In the video above, I will show you how to identify the support and resistance levels for swing trading so that you can buy near the support and sell near the resistance to maximize our profit while keeping risk exposure low, to have a better reward to risk ratio.  Depending on your strategy, preference and personality, you always have a choice to participate the swing within the range or in a trend. Swing trader always aim to catch the swing low as early as possible and sell when the swing is ended.  Resistance becomes support level once it was broken up. Always extend the support level to the right and pay attention if the price respect the support level. Do treat support as a zone/area instead of single line/level.
DJ:DJIEducation
by mingjong
12
Volume based price actionThe only data a trader can base his decisions upon are price, time and volume. Yet many traders don't use the latter, they don't use it at all or they only use the traditional volume bars. A trader should be aware those bars are only based on volume at a certain time, not volume at a certain price. This means the majority of traders use only price and time to trade, this gives you a disadvantage. And then there is also an infinite amount of traders who use their beloved indicators, indicators like rsi, macd, bands and many others. All these indicators calculate their levels by time and historical price, how are you going to foresee the future if you base your decision on history. To me a lot of indicators are totally pointless, they add no value to your trading. The only purpose is to make you feel in control. A trader should only use Price action and Volume to predict future price.
BITMEX:BTCUSD.PEducation
by DemKos
2
Identifying support and resistance levels for day tradingCheck out my video on how to identify support & resistance and other key levels to prepare for day trading session. I am using S&P 500 futures CME_MINI:ES1! as examples to prepare for trading session on 16 & 17 Apr 2020 (Thurs, Fri). Key levels I pay attention to: Previous day high Previous day low non-Regular Trading Hours (RTH) high non-RTH low Swing high from a few days ago Swing low from a few days ago Swing high/low formed during the trading timeframe (M3, M5). The day trading process is very simple. Basically just to pay attention to how the price interacts with the key levels and trade on reversal or continuation.
CME_MINI:ES1!Education
by mingjong
Bitcoin | Big Move Ahead..!!BTC/USD (Update) In Daily Chart, BTC volume has been Decreasing since 12th March Crash, that Means Big Move Ahead. At the Moment, It's Been Moving Btw Major Support (6.6-6.8k) & Key Resistance (7.4k) If Bulls Cleared the Resistance (7375) then Bitcoin Might Jump towards 8.8k Area in Coming Days. If Bulls Lost the Major Support Area then We Could See Another Crash in Coming Days (Target Will be 5.2-5.4k Area) In 8h Chart, EMA200 (7332) & EMA100 (6950) Both Are Play Important Rule As Key Support & Resistance Level. At the moment, Bulls holding the EMA100 (Support) & Pushing the Bitcoin price towards EMA200 (Resistance) Now If Bulls Cleared the EMA200 (Resistance) & Weekly Candle Close Above it then Bitcoin Might PUMP Hard in Coming days (We Could See HALVING FOMO) If Bitcoin Bulls Failed to Hold EMA100 (Support) Then It Might Retest the 6.4-6,6k Area Again. BTW Bitcoin Bulls Already Broke the Bullish Flag & Now Forming Another tiny Bullish Flag . In Case of Bullish Move, Target Will be Between 7340-7380 ( CME gap Area) Outline : At the Moment, I'm Bullish on BTC & It Might Test the 7340-7380 Area, & Also Waiting for Weekly Closing, It Will be Important for Halving FOMO. Please like the idea for Support & Subscribe for More ideas like this and share your ideas and charts in Comments Section..!! Thanks for Your Love & Support..!
COINBASE:BTCUSDEducation
by Faibik
7
EURJPY using the pivot point high low indicator (11 Arpil)playing with more tools. This PP indicator helps to amplify any significant concentrations of activity. Here, you can see an example where there was a double bottom. The PP indicator plotted an 2 key candles. Coincidentally, they also broke a key previous support. You can see the very low activity to the left. You can compare to sell pressure to the buy pressure. You can see the logic behind the volume situation: low sell pressure + high demand pressure = and imbalance of supply and demand where there was more demand than supply, allowing for a path of least resistance and a counter-trend opportunity. There are other factors to always take into account (health of trend, strength or weakness in the background, news etc). This is just an isolated example that i thought might be useful to see if using volume analysis in your trading. another day in lock down. Hope all is good for all. Hang in there. Practice*
Education
by dee718
Will it happen again for S&P500 Future ES using analog from 20088 Apr 2020 recap - S&P500 e-mini futures CME_MINI:ES1! had a strong rally up and closed near the high around 2750. The strong price action has totally ignored the bearish tone set in 7 Apr 2020, where ES was up more than more than 3% but closed down on the day. In 2008, similar situation had happened a few times, such as on 3, 14, 17 Oct 2008. Every times after the price rejection, ES started a downswing. If we pay close attention to 17-18 Oct 2008, it is similar to ES current situation (7-8 Apr 2020) because the rejection bar was followed by a strong demand bar both in 2008 and 2020. Yet, a down swing was followed in 2008 after the strong demand bar, as shown in the chart as illustrated. Historical analog is good for reference and keep us to anticipate potential scenarios. However, always trade according to the charts. So far, ES does not show any emergence of supply., which is a bullish sign. Could it grind higher to stretch to around 2800? Bias - neutral. A range bound between 2630-2750 can be expected. A break below 2600-2630 will validate the up thrust scenario. A break above 2750 should see a test of 2800. Key levels - Resistance: 2750-2780 Support: 2700, 2600-2630. Potential intraday setup - A short entry is preferred. Pay close attention on how the price interacts with the key levels, swing high, swing low, neckline, etc...
CME_MINI:ES1!Education
by mingjong
Up Thrust of ES S&P500 future - What's next move?7 Apr 2020 recap - S&P500 e-mini futures (ES) tested the target around 2700-2770 yesterday and had an up thrust movement on level 2700 before closing below 2650, as per my trading idea yesterday. It had a great run-up during the non regular trading hours (RTH). However, weakness did show up during the US session. ES was rejected from the target 2700-2770 with increasing supply. The down wave is the greatest for the H1 trend started from the low at 2450, suggests a change of character, which means that the up move could stop at least for now, into a trading range or even a reversal to move down. During today's non-RTH session, ES had a weak rally up, tested only 50% of the last hour bar from yesterday followed by a reversal bar, which could be a sign of weakness. Should ES break below the support levels at 2600-2635, it could test lower targets like 2400-2450 or even the selling climax's low at 2174. However, if the levels 2600-2635 are defended, with absorption characteristics, ES could test the swing high at around 2750 and possible to grind higher. Bias - bearish. Expect a break of 2600-2630 to test lower. Key levels - Resistance: 2650-2700 Support: 2600-2630. Swing high and swing low from lower timeframe. Potential intraday setup - look for an up thrust or test of swing high at 2658, 2680 and/or key levels followed by a reversal to short. If ES can commit below 2600, I will consider to switch the position to swing trade instead of day-trading.
CME_MINI:ES1!Education
by mingjong
ES S&P500 future - breakout to start a bull run? Analog inside6 Apr 2020 recap - S&P500 e-mini futures (ES) had a great rally to take out the immediate resistance at 2525 during the non-Regular Trading Hour (RTH) and to further commit above 2600-2635 during the RTH. Since ES broke out the trading range between 2440-2630, it is expected to test the higher target at 2700-2770. It is worth noting that the upside target at 2700-2770 coincides with : Fibonacci retracement of around 50% from the top (3397) to the selling climax (SC) low of 2174, as shown in the daily chart. Axis line or flip zone where there is strong resistance and supply available, as shown in the H4 chart. During the crash in Jan 2018, ES did up thrust twice before it came down to test the selling climax low. Using Jan 2018's event as an analog, we should be aware that an up thrust is a possible scenario. Bias - Slightly bullish. Expect ES to test the upside target but also prepare n up thrust bearish scenario similar to 2018. Key levels - Resistance: 2700-2770 Support: 2600-2635. Swing high and swing low from smaller timeframe Potential intraday setup - look for an up thrust or test of the key levels / smaller timeframe for a short entry. Possible long entry at the support should it happen.
CME_MINI:ES1!Education
by mingjong
Is the ES rally done yet? What's next?3 Apr 2020 recap - ES did rally to level 2525 and was rejected again. In smaller time frame (M1, M3), it did provide great short entry after the up thrust of the level. However, ES only managed to test 2450 and bounced up from there. The low volume without aggressive demand caused ES to drift down. Should ES still stuck below 2525, it should break down to test 2400 or even lower (i.e. the Selling climax's low), under the background of lacking of demand. Daily - After a sharp sell off, ES formed a selling climax (SC) low at 2174 followed by an automatic rally (AR). Now, it seems like the rally is coming to and end. The next move would be a secondary test (ST) to test the selling climax's low. It could in a form of a higher low, similar low or even lower low. Oct 2008 global financial crisis could provide a good analog for reference. Could we see a down-sloping accumulation structure similar to 2008? Weekly - a megaphone structure is formed. ES could potentially test the low as illustrated should a down-sloping structure in progress. This won't surprise me given the COVID-19 situation is getting worse every day and the impact on the businesses. Bias - bearish. If ES fails to commit above 2525, it should break down to test 2400 or lower, sooner or later. Key levels - Resistance: 2480, 2525. Support: 2450, 2400. Potential intraday setup - Look for a test or up thrust of the key levels and/or smaller timeframe to initiate a short entry. Yet, I will pay close attention for long opportunities like a spring of the swing low, shortening of the downward thrusts, etc... should it arise. Stay safe and happy trading!
CME_MINI:ES1!Education
by mingjong
Total Volume - should we trade on the first and last hours?USI:TVOL Since many people are on self-isolation, and the day off in this case becomes even boring than before, I suggest to relax and think about this: is it worth trading in the first and last hour of trading? It's strange that many people advise not to trade these hours, but not everyone can explain it. Usually, beginners, who have a poor knowledge, trade everything in a row, and enter the market immediately, in the first minutes. Some even place advanced orders, hoping to grab luck by the tail. To be fair, I should also note that experienced traders have strategies based on the first hour trading. And here's the thing. If you look at the chart, you will see the total trade volumes on the NYSE. You can clearly see how in the first and last 30 minutes of trading volumes rise sharply, and then the volatility falls. Experienced traders use this increased volatility in breakout models or in models with fast strong false breakouts, when the price rises sharply, breaking through the level, and then falls just as sharply. That's how I would characterize morning 30-minutes intervals: 1. The first 30 minutes after the opening of the session give the largest volume, but at the same time there can be the most dangerous and profitable deals, so they are not for beginners. 2. The second 30 minutes. Time of reversal zone - the volume is quite high, but not the same as in the first 30 minutes. Right now, trading is optimal for experienced ones - the volatility of deals is still high, but some stability and calmness have already returned. 3. Next 30 minutes. The volatility is compressed, and you can trade with low risk. It is a favorite time of many large traders when they set the market tone and move it in the direction they like. 4. Next 30 minutes.The market calms down, the high volatility of the day is usually over, many traders close their profitable positions at this time. It is the best time to prepare for new trades. 5. Next 30 minutes. A large and safe area for morning trading. But u should be careful towards the end of the period, as lunchtime may start a little earlier or later. As for the last 30-40 minutes of trading in the afternoon session: many large investors are adjusting their portfolios at this time. I don't recommend working under such pressure, although the volatility on short-term trades can be quite favorable. Naturally, it is necessary to be aware that trading the 1st and the last hours involves increased risks: 1. And here's what the easiest thing can happen: what if you placed an order and the price opened with a gap in the opposite direction? You didn't guess with the direction? - It happens. At best, you won't get an entry point. 2. But let's imagine the following: you entered the position, but the price immediately went against you, SL should have worked, but the deal was not closed. I'm sure everyone has had it. There is no need even to explain why it may happen. And if you are sitting in a position with big shoulders - hello Margin call. But what to do if the system is based on strong, fast, false breakouts? The answer is simple: if you understand the accumulation of a position by a large player, you can easily find the same prerequisites for this, but this case you will trade in conditions of low volatility with minimal risk. You'll certainly have to do a lot of hard work and gain the skill to understand the chart. But agree that it is worth it when it comes to reducing risk and your money. I'm gonna be honest, I traded first hours a while back. There were TPs, but I got more SLs. Last year I corrected my trading system, corrected the allowed risks and of course I excluded trading in the first and last hour. The results became much better. Anyway, trade only what you see on the chart, trade from the permitted risk, trade exclusively on the system. Take care and press like if you're learning something new for yourself now)!
TEducation
by AllexMl
2
ES price action analysis for 3 Apr 2020 trading plan 2 Apr 2020 recap - Although yesterday was a bullish day, the character does not confirm this. It started with ugly numbers of jobless claims, which drove ES down to spring the low (around 2433) of the previous day followed by a rally up to test 2525 thanks to a spike up in crude oil. It was highlighted in M15 chart that the 2 candles tested the 2525 level has volume spike, suggests the demand was met by supply at this level. On the daily chart, candle b (yesterday) has slight increase of volume compare to candle a, yet the result (to the up side) is mediocre. The rally from yesterday only reached about half way of the previous down candle. This suggests supply was present and managed to stop the up move at level 2525. Bias - slightly bearish. If ES fails to break above 2525 with aggressive demand, it might break below the swing low at 2425 and test further down. Potential intraday setup - Look for how ES interacts with 2525 or structures in smaller timeframe. A short entry after a test or up thrust of level 2525 is preferred. Key levels - Resistance: 2500, 2525 Support: 2450, 2425. Swing high and swing low from lower time frame. Note: Since yesterday has increase of supply, it is important to see how significant is the reaction. A trading range between 2425-2525 will be neutral. A break above 2525 is bullish and expect continuation of the rally. A break below 2425 should draw out more supply to test 2380 or lower.
CME_MINI:ES1!Education
by mingjong