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Ken's Continuing Successes with EO's system

  • #561
  • Apr 12, 2010 9:01pm Apr 12, 2010 9:01pm
Quoting Kenneth Lee
Yes you can use the same ideas during the early Asian session
Outstanding Chart Ken!

I think I'm gonna like it here
  • #562
  • Apr 12, 2010 9:03pm Apr 12, 2010 9:03pm
My little contribution for this morning...... something to keep an eye on for the remainder of the week and into next.

A possible H&S. I called this a week or so ago, but got turned off of it as the PA was heading north, but this gap might have worked as a stopper for us.

If price managers to get to the 1.5000 then it might prove a large enough support line to give us the higher right shoulder.

If, but's and maybe's.........................


WARNING - I AM NEW - DO NOT TRADE MY CHARTS UNLESS YOU AGREE WITH THEM

Regards

Lee
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  • #563
  • Apr 12, 2010 11:42pm Apr 12, 2010 11:42pm
Can I get your thoughts on something Ken?

Based on the chart below, when would you have made a short entry?

On the 15minute chart I have highlighted two candles, the second of which has an arrow. I thought this bar would drop, based on the previous bar, but it didn't and in not doing so, it created a new high for the move.

Following this candle we had a Doji and I am thinking that perhaps I should have entered here. However I have waited as I am now planning to see what the 1hr candle does. The reason for this thinking is based on one of your replies from yesterday (dont worry I won't blame you if I miss the trade ), where you were talking about better entries.

I am working on the assumption that if price remains around here for the close of the 1hr candle, which will be a Doji (assuming as I mentioned, price stays here) then this will be a strong downturn signal as: (not in order)

 

  1. It's a Doji
  2. It's just below the 62ema
  3. It's just below the 200sma
  4. It's just below the 50ema
  5. It's just below the 10sma

HOwever, my original questions is when 'would' you have entered. I appreciate that by the time you read this the move will have played out and it will be clear when I should have entered, but I am keen to hear your thoughts on it.

PS - You can see on my 15minute chart I have a black line that shows recent PA, however this line is also the line for the 35cross+35pips trade...... if I had been awake, that would have been a nice 35/40 pips (depending on exit).

Lee

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  • #564
  • Apr 12, 2010 11:46pm Apr 12, 2010 11:46pm
anyone notice and trade the double bottom on the 15 min gbp ?? it went to it's desired profit target. back to bed for me .. will post a chart later s/r line there also 1.5343
Good Trading To All ; Ken Lee
  • #565
  • Apr 13, 2010 12:45am Apr 13, 2010 12:45am
Hi, Ken
Your analysis of E/J and G/U is excellent! but that was history. When you explain, I can see, but in real situlation I can not see them or afraid to takem them.
In real situlation, we might affect by other factors, then we might select to ignore those PA.
And this kind of trading sometimes works, sometimes does not work.
I have a proposal, Can we start to analysis the current PA, that will we more close to real situlation.
Dancing with Candlesticks
  • #566
  • Apr 13, 2010 12:53am Apr 13, 2010 12:53am
Quoting Kenneth Lee
anyone notice and trade the double bottom on the 15 min gbp ?? it went to it's desired profit target. back to bed for me .. will post a chart later s/r line there also 1.5343
Small mas are under major ma in 15M, I thought should be bearish, but due to the S/R at 1.5343, So did not take short.
How did you see the BULL ? looking forward to your chart.
Dancing with Candlesticks
  • #567
  • Edited 1:17am Apr 13, 2010 1:02am | Edited 1:17am
Quoting Kenneth Lee
anyone notice and trade the double bottom on the 15 min gbp ?? it went to it's desired profit target. back to bed for me .. will post a chart later s/r line there also 1.5343
I missed it. Get up at 7 gmt. But profit target ( double bott. at 1.5343 )give me more confidence to 35/50 trade ( 1h 10 sma cross ).I really like them lately.
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  • #568
  • Apr 13, 2010 3:15am Apr 13, 2010 3:15am
another 35/50 trade
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  • #569
  • Apr 13, 2010 3:25am Apr 13, 2010 3:25am
Quoting kodziro
I missed it. Get up at 7 gmt. But profit target ( double bott. at 1.5343 )give me more confidence to 35/50 trade ( 1h 10 sma cross ).I really like them lately.
Hi, Kod
Can you post a 15M chart to explain?
thanks
Dancing with Candlesticks
  • #570
  • Apr 13, 2010 3:30am Apr 13, 2010 3:30am
Quoting kodziro
another 35/50 trade
Very good setup and spot ! Did you trade ?
I did not trade, because at the moment 1h looks very bearish!
Dancing with Candlesticks
  • #571
  • Apr 13, 2010 3:36am Apr 13, 2010 3:36am
Quoting iForex
Very good setup and spot ! Did you trade ?
I did not trade, because at the moment 1h looks very bearish!

No because I was long at E/U. Yes it looks bearish but when price cross 1h 10 sma ( 35/50 15m ) and I see good spot to reverse I trade, usually by PO or with 5m tf PA.
  • #572
  • Apr 13, 2010 4:39am Apr 13, 2010 4:39am
Quoting iForex
Hi, Ken
Your analysis of E/J and G/U is excellent! but that was history. When you explain, I can see, but in real situlation I can not see them or afraid to takem them.
In real situlation, we might affect by other factors, then we might select to ignore those PA.
And this kind of trading sometimes works, sometimes does not work.
I have a proposal, Can we start to analysis the current PA, that will we more close to real situlation.

AS your previous request yesterday I did post example of possible trades coming up. This is something I am not comfortable doing. Apparently your looking for signals I will never be that. Even on EO's thread the best you ever got was areas to notice . then it was up to everyone to spot the entries.

I am trying to show everyone what to look for. you just have to see where and why I am placing interest at the points I keep showing over and over. If you would take the time and look at your own charts Blank and place the same lines and areas I do on my. You will start to see why they are of interest.

I am sorry if this isn't good enough for you iI have know problem answering any question you may have . Not sure but sometimes you can't help everyone.

Ken
Good Trading To All ; Ken Lee
  • #573
  • Apr 13, 2010 4:47am Apr 13, 2010 4:47am
Quoting Forest-Sea
Hi Kenneth --

Just completed reading your second manual, and some good portion of the forum. Great stuff. Thank you for your willingness to pull so much information together for so many.

I've seen a number of references to Asian hours trading. It seems you take some positions well into that session and let them run overnight.

Are these mainly E/J trades? Do you look much at the G/U in this period? Usually pretty slow for the GBP post-London.

I love the idea of taking an (informed) late entry and putting it on 'automatic' with, I assume,...
Yes this a certian trade I would like to become expert at. I live in the U.S. on the eastern coast. So this would be my favorite time to trade leaving my days free. The Europe / London session is the best and sometimes U.S. . But there is enough movement during Asaia to allow some good gains.

I have a hard time spotting some of the entries at the asian open because coming out of preiods of consolidation at times they are subtle and then boom they take off leaving you at the gate. It is more understanding the pattern price may be exiting or which side the of the MA's price is on.

You will also se time and again just like last night you will get a final push the opposite direction then price will turn in it's intended path. It is getting easier to do and yes I am setting more trades for over night I don't go for mega profits just a reasonable amount. As I have seen time and agian good trades gone bad because the dream was greater than reality.

Welcome to the thread any questions you have just ask. Ken
Good Trading To All ; Ken Lee
  • #574
  • Apr 13, 2010 4:53am Apr 13, 2010 4:53am
Sorry didn't answer your question yes I tend to lean more to EUR/JPY as it is the asian session. Have even thought of AUD/JPY as they are at a cross session but never have really looked. I do look at the gbp as well and I can't count how many times I have taken one to only have the other be the mover . Sundays open was a case in point. Trying to close the gap on the gbp would have been a lot better than E/J.. I keep telling myself take both trades and drop the other. But still find myself in one or the other pair.

This is why i watch those two pairs they haven't got a common currency so they can move independent of eachother. Where a lot of peolple trade pairs that move together all the time. Just my way and sometimes they do move together.
Good Trading To All ; Ken Lee
  • #575
  • Apr 13, 2010 5:02am Apr 13, 2010 5:02am
Quoting leemonk
Can I get your thoughts on something Ken?

Based on the chart below, when would you have made a short entry?

On the 15minute chart I have highlighted two candles, the second of which has an arrow. I thought this bar would drop, based on the previous bar, but it didn't and in not doing so, it created a new high for the move.

Following this candle we had a Doji and I am thinking that perhaps I should have entered here. However I have waited as I am now planning to see what the 1hr candle does. The reason for this thinking is based on one of your...

Actually I took that trade if you checck then post I made about the double bottom. The time stamp. I took it after the doji I try and wait for a signal and don't jump all the time. Price had pulled back and was above mytrading zone to high a retracement so even then it was risky. I only took 12 pips on it as it turned at the 00. Which are coomon areas of S/R on yen pairs. Also the turn at around 20 is considered fading the 00's taking the opposite direction once it breaks. AS accounts can be adjusted and stops ran at these levels. Big accounts trade big numbers.

Always be carefull around 20 ,50 .80 and 00. If look at your charts you will see price reacting around these areas. It is this accomulation of facts that give one person a edge over the other. So mnay focus on one bit when the more you consider the better your outcome will be.

So in that trade it could have been a zero fade scalp a 62 ema touch or a turning doji. Or better yet all the above which means you had a chance. at worst you get BE as it moved enough to cover.

Ken
Good Trading To All ; Ken Lee
  • #576
  • Apr 13, 2010 5:07am Apr 13, 2010 5:07am
Quoting kodziro
I missed it. Get up at 7 gmt. But profit target ( double bott. at 1.5343 )give me more confidence to 35/50 trade ( 1h 10 sma cross ).I really like them lately.

I would have not taken thatb 35/50 trade 1 it is a 15 min chart signal your showing a 1 hr chart. 2 it was above the previous swing on the 15 min which to me voids that trade. 3 it failed it went over 35 pips past the 35/50 before turning back, Just what I see.

Now the 35/50 cross long is another matter did have a bit of drawdown maybe 10 pips but was the start of this up move. For all the same reasons it worked out .
Good Trading To All ; Ken Lee
  • #577
  • Apr 13, 2010 5:35am Apr 13, 2010 5:35am
Here is then promised chart
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Good Trading To All ; Ken Lee
  • #578
  • Apr 13, 2010 5:37am Apr 13, 2010 5:37am
Quoting Kenneth Lee
I would have not taken thatb 35/50 trade 1 it is a 15 min chart signal your showing a 1 hr chart. 2 it was above the previous swing on the 15 min which to me voids that trade. 3 it failed it went over 35 pips past the 35/50 before turning back, Just what I see.

Now the 35/50 cross long is another matter did have a bit of drawdown maybe 10 pips but was the start of this up move. For all the same reasons it worked out .

Sorry, I won`t do it again, it wasn`t 35/50 trade by definition. Just expected pullback with 1h 10 sma cross. ( sometimes there are the same, like other two`s that I marked )
  • #579
  • Apr 13, 2010 5:44am Apr 13, 2010 5:44am
and the 1 hr
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Good Trading To All ; Ken Lee
  • #580
  • Apr 13, 2010 5:46am Apr 13, 2010 5:46am
Quoting Kenneth Lee
AS your previous request yesterday I did post example of possible trades coming up. This is something I am not comfortable doing. Apparently your looking for signals I will never be that. Even on EO's thread the best you ever got was areas to notice . then it was up to everyone to spot the entries.

I am trying to show everyone what to look for. you just have to see where and why I am placing interest at the points I keep showing over and over....
Sorry for making you feel uncomfortable! (I do not want other person feel uncomfortale)
It was my fault, I will not mention it again!
You are a very kind person, You have done a lot for us, I really appreciate what you have done. Actually I have learnt a lot from you. I know nothing about PA before you met you guys. Now I can understand what you are talking, and try to use PA.....to do trading.
Let us continue to talk in our comfortable way.
Dancing with Candlesticks
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