Ken's Continuing Successes with EO's system

and 3

Hi Ken,
nice charts like always. I'm interessted why do you have chosen the s&d level above the red box (on the chart)?

Normaly I never trade against a HTF Pinbar at a swing high. But since I discovered the s&d stuff I trade more frequently (and maybe risky ). I took the E/U long because of the previous s&d level, the rejection from the 21 ema, a 5 min hammer and the BRN 1.4600. My entry was 4605 amd my tp was 4640.

One thing that separates supply and demand from Support and resistance and maybe one of the things that stops folks from seeing the power of it. is the one fact that a great Supply and Demand area . Is best when there are fewer candles. where as with support and resistance we look for many touches off a area to quantify it.

My next few posts will be going over the finer points of picking this levels as well as the differences . between the two. with charts. Maybe tomorrow though ,

ps. one of the main rules of the levels is how price left the level. which the top one has bigger green candles exiting. but if you had drawn your and placed a PO where you did it was a good trade as well. actually better it is a zone behind a zone but could also be counted as tested once already. either way would have worked out. Why this is the first step learning to draw the levels as best we can. as these are the trades. So we keep drawing away and we will notice the differences.

Also we will go over what to notice as one level starts to fail what to look for. Since we can't actually see stacks of orders we will show what the depletion of orders looks like on a chart . simple really for a demand area deeper into the area or more candles within it.

if I was to pick that area which I would ,look at next my top would be 1.0660 bottom 1.0649

we will zoom in and also see the exacting idea of where to put our lines no subjectivity here . nice clean rules all we have to do is place the po's and wait.

But spacing it out to let everyone absorb it .

That oz is very similar to the eur/usd I posted bit more spacing between but demand level after demand level . Which is a plus for going long . But if you were to tie the two areas together you have to pre plan so your risk is correct.

You probably know this already but this was in your trading all along.

I recall a trade you took a few months back on AU. You simply said something along the lines of "I took this trade here. Not the best confluence but I liked how fast price fell away from the area before".

Stuck with me that post because it's the first time i'd really thought about the nature of how quickly or slowly price had previously moved from an area and how that should affect how to view the same area now.

Then all this S&D stuff came along and just solidified it all in my mind.

Anyway, keep it coming, it's all an excellent addition to your thread.

Yes I don't stray far from what i have always looked for, I will read the first couple of post of a thread and if it isn't complimentary to how I WANT to trade. I skip it .

Anyway here is a bit more detail of how we place the lines them selves.

Cheers

Had some more thoughts to add to this chart but got a phone call and totally lost my train of thought.

a pdf on supply and demand would be a god send, iv read over most if not all the posts around it in your thread, still feel that my head isn't fully in the game on it though.

im working in a different area but id dare say that any system would be greatly served in the wisdom i think your thoughts on S&D provide.

-best regards, PG

Got into EU when my PO got activated. Price trade up to the long wick indicated by Kenneth. Took some off and move my stops. Good advise by Kenneth to lookout for the wick.

Thanks for the post Ken,
Have a look @ the example I've attached and please do your best to answer:

Do I wait for the next candle or get in now? As it has proven support @ EMA?



For this example it would've been better for me to get in now but is that the right thing to do?

Thanks in advance

Have a look at the trade I went in today. I have listed my 3T/P

Should I:

 

1. Wait till hits 1st T/P then move stops to B/E+1PIP
2. THEN when hits 2nd (+32) move S/L to +20
3. THEN have my actual T/P at 3rd so get out @ touch of 200SMA
4. THEN buy back on signal?

Thanks again

All the best

Will update when trade closes

Here is the gbp showing once again that if you choose the levels correct they are so superior to Support resistance Lines. The top lines don't look like they were drawn correctly , but They were drawn tighter using a 15 min chart . I am always trying to keep the zones (bases) as small as possible to limit risk , Plus that are is level beyond level so a higher stop could come into play though longs are still the play . but if you can't see how just putting the areas in the correct location and not having so many the placing PO's for both scenarios longs from the lower and shorts upper and tp's at the next level's.

We will get more into the details which are very few so not a lot for us to screw it up by over thinking , But really try and understand how this levels are being chosen , it isn't that much to look for as you can see on this gbp chart there are only two major and one minor levels.

Trade well Ken

Sorry mate I am not seeing your levels.

more on the areas and some good views of price action at work ,

and here is some information on levels.

and one more

Now remember I am looking at a 30 Min chart as it seems to have decent size movements and the levels print pretty clear, But as in the gbp if the 30 min area is to wide between the candle body and the wick I may zoom into the 15 for a tighter zone.

All this is the very same for any time frame but of course as you increase chart time you also increase the size of levels and the distance between them ( fewer Trades) but should get bigger trades, but take longer.

WE will be showing how we have different entries to try and keep risk to a minimum.

support becomes resistance so does Supply become Demand. This was a very clear level OZ had one as well and swizzy , but the gbp was not very clear no new levels in front of the big green candle .

I noticed the supply/demand area's work great at times! Other times they Fail. Any advice for choosing better area's? I need to weed out my bad trades. I seem to be just as good at picking loosers as winners. I picked second circle as an area to go long in backtesting.


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