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Ken's Continuing Successes with EO's system

  • #701
  • Apr 22, 2010 4:57pm Apr 22, 2010 4:57pm
Two today`s htf setup. Both possibly trade by 15m PA although AU more probable ( I would trade this like a touch trade).
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  • #702
  • Edited 7:23am Apr 23, 2010 5:20am | Edited 7:23am
Not entirely sure about this one as the volume is supposed to be lower on the head and the 2nd shoulder, but this is the 15minute, which I guess at this time of the day is hard to acheive.

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

Lee


****EDIT**** I called this one well wrong. Apologies!
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  • #703
  • Apr 23, 2010 5:32am Apr 23, 2010 5:32am
I was favoring longs earlier with a higher high and maybe a higher low then we started this crazy consolidation. Plus it is freaky friday and that Greece stuff continues to unfold causing all kinds of havoc so just beaware of the risk and stay protected. Look out for your best interest. Preserve your equity to fight another day.
Good Trading To All ; Ken Lee
  • #704
  • Apr 23, 2010 5:38am Apr 23, 2010 5:38am
Shame really, there was a TON of PA from the early hours...... looks like you will have lots of highlights on your 15 minute end of day chart today!

Sadly I was alseep for the first hit of the S1, i missed the confirmation by 20 minutes (still sleeping), took the - cant quite call it as shooting star - which tested the open price. I am seeing a pattern with this.... the open price tends to react strong when its tested, as long as its not to close to the last one. Got stopped out by 4 pips on the 3rd test of the S1, which is damn annoyoing. and then got caught in the crazy consolidation too!

Still. booked a little profit after posting the H&S, for half and moved to BE, but I am pretty sure my BE will get hit, but I don't want to close it in case this H&S comes off.

Lee
  • #705
  • Apr 23, 2010 6:34am Apr 23, 2010 6:34am
Quoting leemonk
Shame really, there was a TON of PA from the early hours...... looks like you will have lots of highlights on your 15 minute end of day chart today!

Sadly I was alseep for the first hit of the S1, i missed the confirmation by 20 minutes (still sleeping), took the - cant quite call it as shooting star - which tested the open price. I am seeing a pattern with this.... the open price tends to react strong when its tested, as long as its not to close to the last one. Got stopped out by 4 pips on the 3rd test of the S1, which is damn annoyoing. and...
You should play with pivot point, we got 4h 50 fib retracement there, some PPA and 1h major MA 50 and 200. Although after rejecion we got news, so possible spike may occur.
  • #706
  • Apr 23, 2010 6:42am Apr 23, 2010 6:42am
I was looking at that, but it only hit it once. I was hoping for (though that doesnt really fit with 'trade what you see....') a large range between the Pivot and Yesterdays low which seems to have consolidated to, at best, 9/10 pips below MS1 and todays open... which is still nice.

I am not to comfortable on trading ranges though...I never really know how to set the SL.

Lee
  • #707
  • Apr 23, 2010 7:32am Apr 23, 2010 7:32am
quick +15, trend line + weekly pivot ( notice that price respect this level earlier )

edit: some major MA also near it
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  • #708
  • Edited 8:23am Apr 23, 2010 8:13am | Edited 8:23am
Hi,

anybody would like to have a map for this week's price action on GU?

1. switch to weekly candles
2. draw fib on range of last weeks candle - which was a nice bearish one
(GMT chart) 1.5522 to 1.5284
3. switch back to the tf of your liking - be it 15min or 1hr

After the open on Sunday it even turned on the 138% extension.

another thing:

I often recognize, that if a candle has at least retraced 23% at the close (inbuilt retracement) the next candle can and often will continue from the close and never looks back. Especially 1hr candles.

And if the close is close to the lows a retracement of at least 23% is very likely before continuation.

cheers

tdeu


BTW. the same works for the "map" for today's PA - just draw a fib across yesterdays range (GMT) 1.5472 - 1.5319
today we first used 23% then 38% and NEWS used the 50% retrace to turn south
  • #709
  • Apr 23, 2010 8:19am Apr 23, 2010 8:19am
I'm in for the short H&S on the 4hr.

Gone in with a smaller unit this time as I have given it a 50pip SL to breathe.

I may also look at the 5 o'clock's re-entries as the PA is below the 10 on the 1hr and the 4hr.

Just hope this is a better call than my last one.

WARNING - I AM NEW - DO NOT TRADE MY OPINIONS UNLESS YOU AGREE WITH THEM
  • #710
  • Apr 23, 2010 9:12am Apr 23, 2010 9:12am
Hi Lee,

we bounced off the 4hr 150 with a hammer on M15. There is also a daily tl at 5293 (drawn on daily switched to 1hr chart). Lots of confluence.
I'm long from 5304.

Although we've closed outside the 35pip zone from the close of the last candle, that closed through the 35 on M15. And we're below yesterdays low. Supporting the short.
I'm still short from 5377

My next level from daily is at 5286 and monthly at 5263

Quoting leemonk
I'm in for the short H&S on the 4hr.

Gone in with a smaller unit this time as I have given it a 50pip SL to breathe.

I may also look at the 5 o'clock's re-entries as the PA is below the 10 on the 1hr and the 4hr.

Just hope this is a better call than my last one.

WARNING - I AM NEW - DO NOT TRADE MY OPINIONS UNLESS YOU AGREE WITH THEM
  • #711
  • Apr 23, 2010 9:15am Apr 23, 2010 9:15am
beauty


Quoting tdeu
Hi Lee,

we bounced off the 4hr 150 with a hammer on M15. There is also a daily tl at 5293 (drawn on daily switched to 1hr chart). Lots of confluence.
I'm long from 5304.

Although we've closed outside the 35pip zone from the close of the last candle, that closed through the 35 on M15. And we're below yesterdays low. Supporting the short.
I'm still short from 5377

My next level from daily is at 5286 and monthly at 5263
  • #712
  • Apr 23, 2010 9:38am Apr 23, 2010 9:38am
Quoting tdeu
Hi,

anybody would like to have a map for this week's price action on GU?

1. switch to weekly candles
2. draw fib on range of last weeks candle - which was a nice bearish one...
Hi, Tdeu,
Thanks for sharing!
You are trying to explain something.
After switching back to the tf of your liking - be it 15min or 1hr, what can we see? can you use a chart to explain?
Dancing with Candlesticks
  • #713
  • Apr 23, 2010 9:43am Apr 23, 2010 9:43am
Quoting tdeu
beauty
Originally Posted by tdeu http://cdn.forexfactory.com/images/buttons/viewpost.gif
[i]Hi Lee,

we bounced off the 4hr 150 with a hammer on M15. There is also a daily tl at 5293 (drawn on daily switched to 1hr chart). Lots of confluence.
I'm long from 5304.

Although we've closed outside the 35pip zone from the close of the last candle, that closed through the 35 on M15. And we're below yesterdays low. Supporting the short.
I'm...
you are short or long?
Dancing with Candlesticks
  • #714
  • Apr 23, 2010 9:49am Apr 23, 2010 9:49am
on Monday we used the 138% extension as a turn
two spinning bottoms on M15

on Monday night we used the 23% retrace for a nice bounce
hangman

on Tuesday we used the weekly open and the 62% for nice turns
inverted hammer and shooting star

on Wednesday we used the 62% again
DBHLC

on Thursday we used the 76%
spinning top

look for PA at these levels - either on M15 or 1hr

some diagonal trend lines and S/R levels help too

eg.
daily - 5187, 5286, 5341

and today we used yesterdays fib levels - just draw a fib from 5472 to 5319


Quoting iForex
Hi, Tdeu,
Thanks for sharing!
You are trying to explain something.
After switching back to the tf of your liking - be it 15min or 1hr, what can we see? can you use a chart to explain?
  • #715
  • Apr 23, 2010 9:50am Apr 23, 2010 9:50am
both at some stage

closed my short now

Quoting iForex
you are short or long?
  • #716
  • Apr 23, 2010 10:02am Apr 23, 2010 10:02am
Quoting Kenneth Lee
I agree Ben would be nothing better than adding to winners.
today is a day to be smug hahaha

http://mtabonewebforex.9.forumer.com...1272034728.gif
  • #717
  • Apr 23, 2010 10:09am Apr 23, 2010 10:09am
here you can see, why we went south in such a hurry and why at that time
(the yellow marked candle)

1. we closed the 4hr below 5SMA and 50EMA
2. we closed the 1hr below 10SMA
3. the M15 closed outside the pre DOW range (grey)
4. the M15 closed back inside the Asian range

nice 5 o'clock trade

only my interpretation

atm. we're dealing again with the Asian range top / pre DOW range bottom

cheers

tdeu
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  • #718
  • Apr 23, 2010 10:12am Apr 23, 2010 10:12am
hi Ben,

looks impressive.

what about overall statistics?
win/loss ratio and win/loss sizes etc.

tdeu

Quoting BenScoobert
today is a day to be smug hahaha

http://mtabonewebforex.9.forumer.com...1272034728.gif
  • #719
  • Apr 23, 2010 10:20am Apr 23, 2010 10:20am
and on Monday, Tuesday and Wednesday one of the daily extremes was always at 10:00 GMT which is 06:00 EST - coincidence?

tdeu

Quoting tdeu
on Monday we used the 138% extension as a turn
two spinning bottoms on M15

on Monday night we used the 23% retrace for a nice bounce
hangman

on Tuesday we used the weekly open and the 62% for nice turns
inverted hammer and shooting star

on Wednesday we used the 62% again
DBHLC

on Thursday we used the 76%
spinning top

look for PA at these levels - either on M15 or 1hr

some diagonal trend lines and S/R levels help too

eg.
daily - 5187, 5286, 5341

and today we used yesterdays fib levels - just draw a fib from 5472 to 5319
  • #720
  • Apr 23, 2010 10:21am Apr 23, 2010 10:21am
Hey,

How on earth did I miss this, on my own damn charts!

I had:

1. A trendline
2. A Weekly SR line
3. The 150ema

Shocking.

Oh well..... I did say I needed to let it breathe........

I've seen BLue Whales take smaller breathes than this!
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