On today’s webinar we went through the basics of supply and demand’s core rules at Set and Forget. The
Realignment/Sequence rules are at the core of the rules set, it’s a very powerful, mechanical and easy way to locate the right timeframe to take a trade.
Thanks a lot to Vivek and Hugh for picking up the microphone and contribute with their comments in this webinar.
These rules are VERY specific, but you need to learn them by heart and apply them in the same way every single time you look at a chart.
We analyzed these instruments:
– US Index, strong bullish trend that just hit Monthly Supply zone
– USDCAD, strong bullish trend, demand levels being respected. We explained the exact reasons to take a trade
– USDJPY, GBPJPY, EURJPY and CADJPY
Things we always need to have in mind and take into account, we covered this in today’s webinar
– Defining the trend is crucial, it will determine which is your bias. We have to pay very close attention to it
– How to mechanically define a trend using supply and demand imbalances
– A level of demand is valid IF A) it removes an opposing zone and/or B) it breaks a trendline in the timeframe you are looking at
– The basing structure of a level is key to negate/confirm a level
– Level on top of level, if in a strong and clear trend, the closest level to price is the right one to take, if the structure is correct. See USD/CAD Daily long and other levels mentioned in this webinar
– Continuation Patterns and marubozu candles
– Always ask the same questions if you want to get the same consistent answers? The secret is in doing the same thing always, asking the same questions over and over, else it will be chaos
– What defines an uptrend, downtrend and consolidation at any given chart? In a few minutes we went through the core set of rules, the realignment and sequence rules, these rules allow us to locate the exact timeframe and location where a new trade could happen
– Trades have to be managed depending on which timeframe they have been taken. It’s not the same to enter on a Weekly level than on a Daily level. USDCAD trades I’ve taken show a clear example, or CADJPY short
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