Ken's Continuing Successes with EO's system

Im confused, the close of the candle looks like its below the previous bar

The close of the 2nd candle is above the close of the first candle. The first candle is red so the close is at the bottom of the candle, the second one is green so the close is at the top.

Yes you are correct a true DBLHC should be a engulfing with the second candles close above the HIGH of the first candle. Like the data sheet shows. I just label these as such because EO calls them the same . I try and mark mine as DBLHC /IB when it is a Harami as the second candle . They trade the same way. Stop otherside of low ..

Hope this helps not let me know .. Ken

Usually they show it that way, but the particular data sheet you have next to your post shows a DBLHC with the close not above the high of the first candle.

Damn your right ... Forgive me.. I had always told the other.

Anyway here is why the engulfin is better.

I prefer to take a trade with a candle that is the same color as I want to go . Just seems to make more sense that way.. doesn't mean I wont take the other just prefer that

Yep great picture.

Thanks for your imput Ken !

http://www.forexfactory.com/attachme...3&d=1264063230


Hi, Excellent explaination!
But in real situlation, we may lost the best entry point due to wait for this 50%, 38.2% retrace back. Because you do not know it will pull back 38.2 or 68.2%, then you may find the price went down a lot. Maybe the close of first candle is still the best entry point if we consider all facts.
like this example: after shooting star, if we wait for 50% retrace back, we will lose the entry opportunity.

Hi Ken and everyone in this thread,

First off, thank you Ken and all those great members who have been sharing and contributing to help with this system. I am a newbie and have been learning forex for only 3 months. Honestly, this is one of the best systems I have seen which have given me deep insights.

I admit it was a struggle for me to read through all the PDF and the posts, (you know what, it's Friday pm here and I have just finished with all the readings since Ken posted here on Sunday night of my time). Dun get me wrong, not that they are not good enough, it's just that they are a bit difficult for a newbie like me to fully understand what's going on in each of the examples. I deeply appreciate the effort of Ken and other great members who have taken care of the newbies and have their charts well explained. After all your detailed explanation, I don't have to feel like "Am I this dumb and the only person not seeing what other people are see?"

While I still haven't understood all of the examples every time, I do hope I can learn from each of you and get better over time. Thank you all once again!

Best Regards,
Kristopher

shooting star on G/U 15M

Now it becomes 2 shooting stars on 15M, + cross 1h62ema in last h.
But the bear and bull are still fighting.

Yes, you guys have drawn my attention to it.....

So after 2 shooting stars on 15M, and the price is touching 200 sma in 1H chart, do we expect the price to go down? I was thinking "short?" to myself, but then I see the price kept going up....

Now those 2 shooting stars become invalid. so in real situlation, it is really difficult to see the Price Action.

The 2 shooting stars are invalid, is it coz the price has gone higher than the long up wick of the 2 shooting stars?

Thanks so much!

Good Morning : All that does is give you a place to look at on your chart for a possible area for a Entry to start forming. Just like our S/R area. It never menas that a 100% of the time it will turn on it. But we at least have closed in on where it MAY turn. So we can look a little harder.

Then that is only part One. what if you had a S/R line withing that zone.
Would that give you even a closer possiblity. You could even have a few swings on the 15 min. chart then that area could be approcahed.

That is one issue people struggle with. They want a edge all we can ever look for is possiblities of where it might happen. We sit and watch other traders get these great trades and you think they know where every entry is going to take place.

It doesn't work that way what they do know is the same as you and I where it might take place. So they take notice in those areas and they
Look for PPA ( a previous place price has turned) and then PA ( price action right now showing that it is looking to turn now). And because they had this area in their sight and knew it might be of interest they feel more donfident about taking the trade and even have a idea where to place their stops.

I will be expanding more on this over the weekend. But without some target zones or areas we have no edge at all. Just like now your seeing Pin after PIn but they aren't near a place of interest to use and are having little effect. But put those same pins on a S/R line or one of those fib levels and you wont be the only person ready to jump.

This whole point of even posting those charts is to try and get everyone to start looking at them . If you just look once or twice a day and remember that zone when price gets there you can gain that edge. Then put that together with your S/R ,PPA and PA. Then watch for entry signals and triggers.

What has hapened to me as well as many . WE have our s/r lines marked I even have mine on my 15 min chart. and we do see the Price Action . In those areas. Then take trades when we get good signals and a trigger. But we aren't loloking for the entries off the higher time frames. So I still I am just trading off my 15 Min chart. And you can't see the Profit targest that teh Higher time frame are aiming at.

But if we have that area already in our mind when we get to it on the 15 and even a possible TP rea using that chart. We can start focusing more on higher gains using those easy entries.

This is what our goal is suppose to be See areas off higher time frame charts. Take more notice when approaching this areas . Then getting the best entry off the lower time frame charts . But still focus on the higher time frame tp areas.

If we conitnue with this rejection at this S/R area 1.627* we will print a shooting star on the 1 HR. This being at a S/R area and on a higher time frame chart will have more traders taking a look at it.

Notice that two shooting stars closed above 1h62ema ( MA held them ).

Yes yes, it seems it's really going to form a shooting star at the 1H chart.....so once it's confirmed as a shooting star, is it enough signal for us to go short? Or we'll need to wait for some more confirmation like in the PDF said?

Thanks a lot for the reply. I am learning again!

hi Ken,

Could you post an example of how you draw ur S/R lines on HTFs . My S/R line was at 6250 . If you consider it as an area please give an indication of how u calcualte the areas around your line. Thanks in advance