Keepin' It Simple: Supply and Demand, Volume, and Price Action

[pmccandless]

Missed what would've been a great entry for the end of the day sell off today. Snagged a video while I was trying to get filled but she never took me out. Was chatting with GladiatorX as I was trying to get filled. 14 points? Seriously? Ugh...

[youtube]ekECWjqgRJk[/youtube]

 

[pmccandless]

Well, a couple breakevens, a couple profitables, and a couple missed opportunities this week. Hopefully I'll be able to get in more video time next week. Keep checking back folks.

Have a good weekend and Happy Easter.

 

[jitasb]

Hello.

When you are 'drawing'/'assessing' S/R and supply/demand etc, do you take note of what has happened outside normal market hours i.e. pre and post market ? Or is just based on what has occurred during main market hours.

Many Thanks

 

[pmccandless]

jitasb,

I apologize for not responding before now. Was in Las Vegas havin' a little fun.

I only look at after hours myself. I know some people use after hours to draw their s/r lines, but it's just way too easily manipulated with such low volume that I don't believe it to be a completely accurate depiction of what's really going on.

Hope this helps and let me know if you have any other questions.

 

[pmccandless]

Holy smokes recovering from Vegas is not an event, but a process! Going to do some homework this weekend and get ready for the coming week. Will definitely have some live videos up for you guys next week...

Good luck out there!

Pat

 

[pmccandless]

I promised you guys some more videos so here you go...

Not a very good day today although it's not over yet. First trade was an attempt at a quick short scalp off HOD. This thing is an uptrending beast so my intentions were to get in and get out. Second trade was reversing my position to the long side as price was showing overall bullish divergence and had not followed through with the short position. After she began to move sideways I felt I no longer had an edge in this trade and decided it be best to exit at breakeven.

Can't complain about a 2 tick loss and a breakeven. Continuing to take these low risk trades will pay off eventually.

[youtube]jFsXmrIwjw0[/youtube]

 

[pmccandless]

Had a nice pullback entry right at yesterdays close price. I stepped away from the computer for two seconds and it blasted off. Had I been at my computer for the first pullback to that area earlier I honestly probably would've taken it for a small loss so it was just good timing to catch this second one when I did.

Take care and good luck guys.

[youtube]K4CUW9AEOZk[/youtube]

 

[pmccandless]

1 missed long opportunity today is all. Was at the first significant pullback at 11:00 MT. Order was at 2016 but she only came down to 2017. Tomorrow is another day.

If you're just visiting for the first time, here are the rest of my videos.

 

[pmccandless]

Hey guys. Had a couple trades today for about $115 net. First one was pretty nice and experiemented with some scaling out which I don't normally do. Second one was a quick one to lock in a small amount of profits and was pretty much just enough to washout my commissions for the day and a lil more.

You can watch both of them and more at my channel by clicking here.

[youtube]EIvTtLztOMQ[/youtube]

 

[pmccandless]

Nothing today. Slept in and had too many things to get done, but man it would've been a fun day. Have a good weekend folks.