Yesterday night I made a post saying that I’m monitoring two potential supply zones for the AUDUSD pair with the closer supply zone having a stronger chance of holding. This is because it had a dynamic S/R moving average confirmation over on the 4-Hour time frame.
Just placed the trade and it is currently holding up very well.
I actually learned more and more about supply and demand trading from Sam Seiden’s webinars. I’m not an expert in this, but I failed at this strategy quite a bit before due to the fact that Sam Seiden is a lecturer at Online Trading Academy. He isn’t going to reveal everything about his strategy and this is something to keep in mind when trying to learn about someone else’s strategy. He obviously provide free introductory courses so you would pay for the actual trading lessons at OTA.
Let’s not get overly promotional and move away from that topic of discussion. Let me explain what I have learned. Sam Seiden consistently shows historical levels that have successfully tested. What he doesn’t show is that he actually plots multiple high probability S/D levels before hand. The ones that do not hold up, he eliminates it from his chart. In my trading, I plotted two high probability levels as well. This is one of the takeaways I learned later on. Not every level holds up. The supply and demand zone spotting is not fool proof. The chart analysis simply gives you an edge by finding relative entry optimizations and I have just found one.
I will definitely incorporate more supply and demand in my charts where I see fit. I usually stay on major pairs due to the spreads. The only cross pair I trade is probably EURGBP assuming you consider EURJPY a major pair.