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Ken's Continuing Successes with EO's system

  • #621
  • Apr 15, 2010 5:35am Apr 15, 2010 5:35am
another point of concern you should notice. The 62 ema trade was voided because price made a new low on the 1hr it was not in the trading zone. another reason to look for that retest of a break in that area of yesterdys low. For me anyway . At least be more carefull when you see the 62 positioned like that
Good Trading To All ; Ken Lee
  • #622
  • Apr 15, 2010 6:11am Apr 15, 2010 6:11am
I`m long on EU. Notice that nearly at one place we got: -4h two major lines 150 and 50 , --pivots daily S3, montly and weekly ,---some daily high. Nice barricade.
  • #623
  • Apr 15, 2010 6:27am Apr 15, 2010 6:27am
Quoting kodziro
I`m long on EU. Notice that nearly at one place we got: -4h two major lines 150 and 50 , --pivots daily S3, montly and weekly ,---some daily high. Nice barricade.

yes lots of stuf supporting that move .. new low though so it may turn back at some point and try to finish filling that gap.
Good Trading To All ; Ken Lee
  • #624
  • Apr 15, 2010 9:19am Apr 15, 2010 9:19am
Anybody took the 15/50ma reversal trading on E/J?
Dancing with Candlesticks
  • #625
  • Apr 15, 2010 9:40am Apr 15, 2010 9:40am
Quoting iForex
Anybody took the 15/50ma reversal trading on E/J?
I'm short but I can't see a candle which closed through the 35/50.
  • #626
  • Apr 15, 2010 9:46am Apr 15, 2010 9:46am
Quoting MCFly
I'm short but I can't see a candle which closed through the 35/50.
60 minitues ago
Dancing with Candlesticks
  • #627
  • Apr 15, 2010 9:49am Apr 15, 2010 9:49am
Quoting iForex
60 minitues ago
Closed below the 50 on my chart
  • #628
  • Apr 15, 2010 10:07am Apr 15, 2010 10:07am
Just dropping in to say Hello Ken. You've developed quite a following - well deserved. Looks like your trading is going great and hope you continue with great success. Take Care!
Cap
  • #629
  • Edited 11:10am Apr 15, 2010 10:13am | Edited 11:10am
Hi iForex --

I'm coming up to speed with this way of trading.

I wrote in my notes 'hesitating' as the E/J hit and slowed at the 50. I had the G/U on a side by side screen, and it had a similar looking formation up to the 50 but powered right through it as all can see.

Had I treated the E/J independently, I would have entered. I kept thinking perhaps it is just lagging a little and will push beyond the 50 at any time. WRONG.

TRADE WHAT YOU SEE, NOT WHAT YOU EXPECT. There it is.

Well done to you for grabbing it.

Forest
  • #630
  • Apr 15, 2010 11:42am Apr 15, 2010 11:42am
Here is a grouping of E?J charts this is actually how I see them on my computer screen, 15 min , 1 Hr then 4 Hr. At the frist pin on the 15 min at 8:15 i also noticed the 1hr and the double top but did not take it. Why oh Why. Then at 10:00 the second push up and failure for higher ant the next candle showing good rejection. But price was still hanging up there. But yellow dot is start of 11:00 candle and a IB. If you would have taken any entry here then watched your 1 hr at 12:00 it printed the 11:00 candle as a Harami / IB. supporting the short. Also the 4hr printed a shooting star (almost) but close enough to stay in. Then boom with all these supporting Higher frame candles it helps convince your longer term traders to jump aboard and they did with vegance. Stalled a bit crossing the 35/50 ma's retested and continued down.
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Good Trading To All ; Ken Lee
  • #631
  • Apr 15, 2010 12:00pm Apr 15, 2010 12:00pm
Of course the best trade would have been to enter short because of the double top 1 hr. You then have your first TP based on that. You watch PA at those S/R areas. to see how it is acting. the first at 126.95 was no problem at all. Just a tiny pause you can't even see on the 15 min. The second is right where our TP projection is 126.53 BUT we never closeeed above the 5 ema even. A 30 min pause then down to 125.80 and a good rejection also finally closed above the 5 ema .cost about 30 pips or you can adjust your trade at those lines then try and add what you removed at another entry area. Any S/R normally will allow for that. Take some profit and re enter ona pull back or when it breaks out and retests. These are the choice we have to decide on our own,

But the long term trade was there for the taking. So when you enter look to your higher charts to see if they support your move. Or as in this case the double top on the 1hr supported the entry even on the 15 Min and provide a good first target. I hope your startting to see some of these things and how they are happening over and over.

Also how simple they are . Just a bit of counting required.
Good Trading To All ; Ken Lee
  • #632
  • Apr 15, 2010 12:05pm Apr 15, 2010 12:05pm
Hi Ken,

I think it all depends (trading zone) how you draw the fibs. It was right at the 50% of the swing from Tuesday's low. If you count every swing as a new leg you rarely get a decent 62EMA trade. One can switch to a line chart to see things more clear.

Cheers

tdeu

Quoting Kenneth Lee
another point of concern you should notice. The 62 ema trade was voided because price made a new low on the 1hr it was not in the trading zone. another reason to look for that retest of a break in that area of yesterdys low. For me anyway . At least be more carefull when you see the 62 positioned like that
  • #633
  • Apr 15, 2010 12:16pm Apr 15, 2010 12:16pm
Quoting tdeu
Hi Ken,

I think it all depends (trading zone) how you draw the fibs. It was right at the 50% of the swing from Tuesday's low. If you count every swing as a new leg you rarely get a decent 62EMA trade. One can switch to a line chart to see things more clear.

Cheers

tdeu
Sure it does. I can draw them on a daily and it would always be off. for the 62 ema trade draw them on the hrly for the 35/50 on the 15 min. I always use the lastb swing until it goes beyond 75% then I move the one end to the next swing or look at the next higher time frame. But in that case on either the 15 or 1 hr it was right in the zone. Missed the 50% by a few pips on the 1hr.

But the zone is 25% to 75% big target. But you are correct it does matter on how you use it I try and teach that you don't need the fibs just look for something that looks close. Plus at times they don work no matter what..
Good Trading To All ; Ken Lee
  • #634
  • Apr 15, 2010 12:20pm Apr 15, 2010 12:20pm
Like now it turned again at the 50 or there about on e/j .. You will also see when it goes into consolidation a 50 to 50 move forming a triangle at times. or if it is ascending or descending a one sided 50% set of moves. It is all just teaching how to see. But it isn't a perfect world.

But I have seen perfect trends down 150% retrace to the 50% then down 150% about 5 in a row it is luvlly. But few between and if you can get 2 or 3 your lucky now days if you can get 2.
Good Trading To All ; Ken Lee
  • #635
  • Apr 15, 2010 1:02pm Apr 15, 2010 1:02pm
Hi Ken,

Would you have defined this swing from 5456? And the 62 EMA was below that - so no trade?

Although the 35/50 on M15 was in the trading area for that swing. But didn't worked out.

tdeu

Quoting Kenneth Lee
Sure it does. I can draw them on a daily and it would always be off. for the 62 ema trade draw them on the hrly for the 35/50 on the 15 min. I always use the lastb swing until it goes beyond 75% then I move the one end to the next swing or look at the next higher time frame. But in that case on either the 15 or 1 hr it was right in the zone. Missed the 50% by a few pips on the...
  • #636
  • Apr 15, 2010 1:26pm Apr 15, 2010 1:26pm
Quoting tdeu
Hi Ken,

Would you have defined this swing from 5456? And the 62 EMA was below that - so no trade?

Although the 35/50 on M15 was in the trading area for that swing. But didn't worked out.

tdeu

Sorry looked at e/j .. LOL

No swing on 1 hr is 1.5523 to 1.5383 62 is at 38.2 level with in the zone and we did get some reaction 20 or 30 pips. possible. this is what we get with these trades at time just a stall or retrace at this levles.

same with that 35/50 trade it did retrace the break which is the other option instead of a reversal. One issue I see with the 35/50 was that we made a higher low at the 62 ema level so gives us a idea that up can be in the cards. Those are the details we need to watch for. It is hard to see them all. Why we have to look back everyday and see what we missed so we might see it the next time.
Good Trading To All ; Ken Lee
  • #637
  • Apr 15, 2010 1:37pm Apr 15, 2010 1:37pm
Hi Ken,

sorry for the misunderstanding. I meant the 35/50 and the 62EMA trade on the way down after London open. One at 7 and the other one at 9 GMT.

I didn't take the 35/50 on the way up as I had the pre DOW range defined at 5403-5420 and saw the retest of the breakout at 13GMT. This candle (13GMT) brought us also back in the channel from the low.

EO said once - if she breaks out from a range she's good for 80 pips. 88 pips from 5420 to the US session top.

Cheers

tdeu

Quoting Kenneth Lee
Sorry looked at e/j .. LOL...
  • #638
  • Apr 15, 2010 1:46pm Apr 15, 2010 1:46pm
Quoting tdeu
Hi Ken,

sorry for the misunderstanding. I meant the 35/50 and the 62EMA trade on the way down after London open. One at 7 and the other one at 9 GMT.

I didn't take the 35/50 on the way up as I had the pre DOW range defined at 5403-5420 and saw the retest of the breakout at 13GMT. This candle (13GMT) brought us also back in the channel from the low.

EO said once - if she breaks out from a range she's good for 80 pips. 88 pips from 5420 to the US session top.

Cheers

tdeu

your correct 35/50 was possible but not great it also gave a retest though supporting the short. . 62 was over extended for my liking.

he must have mentioned that after I left I don't recall hearing that. It is a possiblity I guess . I just remember when I first started trading and the daily range was under 60 most days. strange how time changes things.
Good Trading To All ; Ken Lee
  • #639
  • Apr 15, 2010 4:52pm Apr 15, 2010 4:52pm
Quoting tdeu
Hi Ken,

sorry for the misunderstanding. I meant the 35/50 and the 62EMA trade on the way down after London open. One at 7 and the other one at 9 GMT.


Cheers

tdeu

Both trades could give us for about 20 pips each, with entry at Asia low and second with 1h trend line.
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  • #640
  • Apr 16, 2010 3:25am Apr 16, 2010 3:25am
short 1.5448 (got PO at multiply tested daily line, montly pivot ), 35/50 trade.
Take +15 with trend line and cover rest, news coming out soon.
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