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X of the bat is resistance, I'd took that swing low as X because that's swing low for me. That PRZ is combined with resistance and demand (to me). If treated the bat pattern normally, I would miss it cuz it didn't complete but if I treated it with demand zone that I found. Sticking to rules of any method is important and also sticking to one's rules is important too if it's profitable.
again,
that's not qualified as demand zone,
it's potential demand zone,
look:
I'd probably choose that zone too because not much trading in the area,
but if i'd see 6 candles together and one of the candle has a long wick, I'll cut through that candle.
again,
that's not qualified as demand zone,
it's potential demand zone,
look:
I'd probably choose that zone too because not much trading in the area,
but if i'd see 6 candles together and one of the candle has a long wick, I'll cut through that candle.It's not a "qualified" demand zone to you but to me it is. I mean It's PRZ to me. I was just thinking why the bat didn't complete and reversed. It's not a qualified zone to you but potential, meaning that price might potential reverse in that zone. Sometimes qualified zones don't work and potential zones work and vise versa just like harmonic patterns. Or else maybe there's statisitic that tells us that qualified zones work out more often that potential zones.
It's not a "qualified" demand zone to you but to me it is. I mean It's PRZ to me. I was just thinking why the bat didn't complete and reversed. It's not a qualified zone to you but potential, meaning that price might potential reverse in that zone. Sometimes qualified zones don't work and potential zones work and vise versa just like harmonic patterns. Or else maybe there's statisitic that tells us that qualified zones work out more often that potential zones.
No, it's not qualified as demand zone in terms of supply and demand rules,
you measure the strength of a level by how much other strong level it took,
and that level didn't took any supply area.
S&D keep the rules very simple and this doesn't fit into term of demand area, it's a chain reaction to previous demand area, indeed - the gap (look left)..
No, it's not qualified as demand zone in terms of supply and demand rules,
you measure the strength of a level by how much other strong level it took,
and that level didn't took any supply area.
S&D keep the rules very simple and this doesn't fit into term of demand area, it's a chain reaction to previous demand area, indeed - the gap (look left)..Sorry I'm confused. Can you expand on "S&D keep the rules very simple and this doesn't fit into term of demand area, it's a chain reaction to previous demand area, indeed - the gap (look left)"?
Perfect setup on CADCHF 240m
Bullish Bat pattern, fresh demand sitting on 88.6%
bullish deep crab on audsgd 240m
two fresh demand zones. up on top of the other,
I take that as a counter trend pattern, I'll take profit at first supply zone appear on the chart.
Sorry I'm confused. Can you expand on "S&D keep the rules very simple and this doesn't fit into term of demand area, it's a chain reaction to previous demand area, indeed - the gap (look left)"?
forget it,
we can also look for good departure from a level that isn't a reaction to previous level to count as tradeable area.
forget it, we can also look for good departure from a level that isn't a reaction to previous level to count as tradeable area.
I meant I just would like you to explain that with a picture. Well never mind.
Irad, what do you think about this? Is this a demand zone or former-resistance support area?
I had to delete this.
why? I was about to give answer, lol