There is no magic formula or an obscure recipe that you can cook and turn you into a profitable trader. When going over your watchlist, you may have realized specific patterns that repeat themselves over and over.
Maybe you haven’t realized yet but being proficient at reading price action and the numerous candlestick patterns can tell you a lot about the future moves of the market. You may have started to follow me and my analyses, or maybe you’ve been reading them for quite a long time. One thing that is common in all my analysis is the strength of the impulse, and the patience one needs to have to wait for the price to pull back to those impulses.
Some many so-called magic indicators and oscillators will tell you when to buy or when to sell, but I’m pretty sure you know they will not work. Otherwise, you’d probably not be wasting your time reading my weekly newsletters.
Staying away from your computer as much as you want is actually a variable you should have in your trading plan because if you keep on watching the charts expecting to move the price with the power of your mind, you might be disappointed.
See below a few examples of strong imbalances to which we are expecting to pull back. Trading against those imbalances once the price is very close to or within those imbalances is suicidal because we should be expecting a strong reaction to them. Find below the analysis for NZDUSD, Alibaba #BABA and Bitcoin cryptocurrency. Hopefully, you will see what I mean. You want to learn how to locate these imbalances and how to trade them? You are welcome to join the Set and Forget trading community.
This is the kind of price action technical analysis you will learn in our trading community. You will learn how to locate new supply and demand imbalances and trade without using any indicators, no news, no fundamental analysis, no earnings announcements, no volume or VSA analysis. Just supply and demand imbalances.
Trading supply and demand imbalances are ideal for beginners and those with a full or half time job, you won’t need to stay in front of the computer all day long trying to move price action with your mind.
As supply and demand traders, we do not need to pay attention to the news, fundamentals or any earnings reports. Once a big timeframe imbalance has gained control, earnings do just the opposite and react strongly to those imbalances. Why is it that you see positive earnings and then the underlying stock drops like a rock, or a negative earnings announcement and the stock rallies like a rocket out of control? You are probably missing the fact that there are big imbalances gaining control.
Unless you are doing very short term trading and scalping, you should not worry about fundamentals or earnings announcements.
You can use these imbalances to plan your trades in lower timeframes. Trading is just waiting for the right trigger points and scenarios to present themselves, this game has got a name and it’s called the waiting game. We need to patiently wait for the correct scenarios and setups to happen and wait for the price to pull back or dip into the price levels we want to trade, in our case these price levels are made of supply and demand imbalances.
If you want to learn how to trade using our supply and demand trading strategy, join our supply and demand stock trading course.
There are several ways of buying stocks and futures. When trading stocks, you can buy shares of the underlying stock or use options strategies to go long or short at these specific supply and demand levels, long calls or long puts or spreads. You can even buy a CFD (contracts for difference) if you are in a country where it’s allowed.
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