Ken's Continuing Successes with EO's system

yes the normal entry of a shooting star is straight away as long as we have confirnation of the move. But with price right on some major MA's it's move can struggle

Ken price broke high, 62ema hold them. I think price could go back to them again ang go up. What it`s your point of view ?

Thanks a lot Ken!

Actually, I went short on my demo a/c right after the shooting star. And thanks for pointing out that the price is on some major MA. I just overlooked them.....

So in such scenario, would you recommend us to get in or stay out of such similar setup in the future?

There is no right or wrong way as long as we cna get close. to a area.

On 15M, the price was just about to cross the 35/50 MA......was it?

I was more concerned with the 200 sma which is also where the 1 Hr 50 is at . This is a more watched MA for long term traders. But as we can see it broke through now to get a closed below it.

The 62 ema is more for a retracemant trade like the 35/50 trade also. but is way to close to price for that.

I actually took this trade also but closed at the 200 sma 15 MIN. story of my life.. I entered off the 15 min. Also the 200 on the 1 HR. confirmed my S/R line

Keep a eye on those Higher value MA's they stay hidden away out of sight for long periods of time but when they show up they tend to make price move around them.

Then news comes out and boom a gap and further down. bad retails sales for the UK.

Oh yes, I was reading through the threads and when I flipped back, the huge bear candle on 15M chart made me wonder if I flipped to the wrong chart. No wonder......

Thanks so much in advance for the great effort, very much looking forward to it. =)

yeah deleted that post . I was just typing out loud.. we need to concentrate on this first,

But wonder how that move would have played out without the release. May not have broken the 200

Yes, I also saw it struggling to go further down, if not for that news release....newbie like me should really stay out from trading news.

Hi Ken could you tell me what are the important MAs in each TF according to priority .like 50 ema in 15 min ,how abt 1hr ,4hr& daily?

EU - 35/50 cross. ( confirmed with 200sma/1h50ma )


Ps: EJ also valid signal with 4H PPA.

Well we can see that 1 Hr pin was a awesome entry and trade. Never was the stop at risk.

On the chart I have marked my S/R levels circled . The white are off the 4 HR. The red is Daily. We can see that the first drive down after the news closed above the first support line A . Then we got a pin right on the 62 EMA and also a 35/50 cross trade. Is it a wonder that the 62 ema trade and the 61.8% (62) are at the same level when this is the best chance of succeeding. I don't think So. But we don't use fibs here but somebody thought about that somewhere along the development of this system.

So a nice pin ( shooting star ) on the 15 at the 62 ema. which is also retesting that wick on the 1 HR pin. so we could have covered at the a A area then added back after the pin on at the 62 ema. price closes below that support line A. And also crossed 35/50 but since it is not in the right spot for a retracement the best you can expect is a retest. Whic it re tested area a Giving you a 5:00 o'clock trade entry.

After this has shown to be a clean break we can now move our stop as we just made a new low.

I don't know why but some people find that entry so hard to see. You need some type of break to make it work well . Like this Support area or a new low of the previous day , It is a reason that some are taking profit or stops are at. But the sellers are still strong.

AS we can see the next S/R area B. rejected price as well have. Another spot to take some profit. Then we could or add some at the 5:00 O'clock entry this one isn't as clear and could be a spot that price may turn as it didn't close across on the first try. So riskier.

Simce this B level looks to be broken we are targeting the next level for more profit. Until the candles start closing on the other side of the lower MA's it will continuing down. IT is YOUR choice when to take all your profit.

WE are also at the previous low area off the 4 HR.

I want to explain something I post all these entries on that 15 min chart. That is not saying those are all seperate trades, But these are the places you can get in IF you missed the orignal entry at the top off the pin.

So what you should do when you sit down at your computer is take a look at price and figure out how it got there. Like now off that 1 HR pin.

So then you can start looking for the best secondary entry to get in the trade. Those areas are also where you can mange your trade removing some profits and adding back at the entry points. But our tp's should always be the next S/R level and as they break the next one.

So instead of just looking for a entry off the 15 Min look to see if you can join a bigger trade. If you are seeing consolidation then that is when you look just for scalping trades off the 15 min chart. Or gump trading.

Nice trade Perfect positiong for the 35/50 trade. First candle closed on the 50% fib the second with 200 sma touched the 61.8% level.


Nice going..

I see the GBP made it to the next level..

Yes you cna just look at your charts they stand out, You will see that price stays on one side or the other the majority of the time. Every now and then they may get straddled if price is in a very tight range.

The 50 Ema 15 MIN.

The 62 EMA 1 HR

The 50 EMA 4 Hr.

This information alone isn't very vaulable as we don't just trade the MA's but helps in looking for the next possible entry signal weither it maybe long or short. I mention to most new traders that taking trades away from the major MA's is the safest as it is normally with the trend . But always have more confirmation to take the trade.

This also why when taking a trade towards the MA's like IF we had a long now we cover at the MA's as it can turn back at them and we fell until the major ones have been broken that the trend will continue.

So when the price is on the correct side of the MA's like it was earlier today on the gbp. It makes the short easier to take. It is harder when you have conflicting trends on different charts but safest to trade with the longer time frames of course keeping eye out for your levels.

Hi kodziro & Ken,

I am sorry that I don't quite get it, how does the 200sma confirm the 35/50 cross trade? I am very sorry if I asked a stupid question....

Thanks & regards,
Kristopher

It doesn't just a another bit of confirmation to make the trade better. Just the more things that are in a area that support the trade is more betta.

Thanks a lot for ur reply Ken!