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I wanted to share with you a post I submitted to Set and Forget trading community (https://www.set-and-forget.com) the 11th April 2014 about a potential H4 demand confirmation trade, I believe this will help you to understand what the confirmation type of trade looks like, and when we should be waiting for it.

When do we wait for confirmation type of trades?

  • When the HTF zone is too wide or is holding after a few touches
  • We are too low in the curve and there is no clear level to set and forget our trades
  • If you are unconfortable with settings and forgetting your trades. You may miss many trades because they don’t pullback to the level that would have confirmed the zone, but that’s the con

The intial post was this:

  • Potential H4 long at D1 non-fresh demand if descending H4 TL is solidly broken and we get a nice imbalance.
  • We have compressed supply right above, that could easily be removed if we rally into it
  • WK and D1 are ranging really, making lower lows and then higher highs

 

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Today after 5 days of the initial post in the community, the trade happened and my answer was:

  • 1. As described in the previous post, the potential H4 long happened on USDJPY
  • 2. Classic H4 demand confirmation type of trade on USDJPY at D1 demand.
  • 3. H4 was over-extended. Buying against D1 demand is low odds, I just waited for confirmation as the rules say

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Alfonso Moreno
Alfonso Moreno
Full time trader, expert technical analyst and founder of Set and Forget supply and demand online trading community. Traveler, photographer and adventurer.

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