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Ken's Continuing Successes with EO's system

  • #1,821
  • Sep 29, 2010 7:11am Sep 29, 2010 7:11am
Quoting Storeball
Hi ken!

Whats your thoughts on au atm? Seems to be on a mission to reach the stars. If it passes the the monthly swing its a all time high.

For me, i think it will climb to reach the 9800 area where we might get a nice bounce from resistance and div up there before it does anything else.

This would be nice to see
Yeah they keep mentioning parity so I guess cheap austrilia holidays are over for now.. Think we may get that pull back your showing at the previous high then a run for the parity... But it could just drive on through as well let the PA lead the way.. .
Good Trading To All ; Ken Lee
  • #1,822
  • Sep 29, 2010 8:16am Sep 29, 2010 8:16am
E/U short -saw rejection at weekly R1 with doji candle - got +44 pips with 90% of position
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  • #1,823
  • Sep 29, 2010 10:02am Sep 29, 2010 10:02am
Quoting dr mongolia
I'm hoping that this is finally the reversal for AUD/CAD as its been trending upward for quite a while. But.. hope is not a strategy, so I'll be covering quickly.
I ended up getting about +30 on this one which was nice but I was expecting more. It keeps returning to test the parity level so I'll probably be playing quick bounces/scalps off of it for 10-20 pips each
  • #1,824
  • Sep 29, 2010 10:07am Sep 29, 2010 10:07am
Got this one off CAD/JPY just now. PA on the 15M led the way with a nice rejection off of a previously drawn S/R (first chart), plus a perfect PPA rejection off of a large pinbar/hammer from earlier in the week (third chart). The hourly also closed showing very nice rejection off the 50/62 (second chart). I shorted on the next pinbar and my target was the next S/R level on the 1H chart.
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  • #1,825
  • Sep 29, 2010 10:23am Sep 29, 2010 10:23am
Quoting dr mongolia
Got this one off CAD/JPY just now. PA on the 15M led the way with a nice rejection off of a previously drawn S/R (first chart), plus a perfect PPA rejection off of a large pinbar/hammer from earlier in the week (third chart). The hourly also closed showing very nice rejection off the 50/62 (second chart). I shorted on the next pinbar and my target was the next S/R level on the 1H chart.

Great,, when you can start tying them all together that way you are on your way.. When you get a entry even if it is just a scalp off the 15 min glance at your higher charts , they can start to support your trade making it easier to hold for higher gains.. Great Going ..
Good Trading To All ; Ken Lee
  • #1,826
  • Sep 29, 2010 10:44am Sep 29, 2010 10:44am
Thanks Ken. Making a point of checking the higher time frame charts and searching for PPA has really started to pay off for me. Of course I've still got a very, very long way to go but it's nice to finally see some improvement in consistency.
  • #1,827
  • Sep 29, 2010 11:29am Sep 29, 2010 11:29am
Quoting dr mongolia
Thanks Ken. Making a point of checking the higher time frame charts and searching for PPA has really started to pay off for me. Of course I've still got a very, very long way to go but it's nice to finally see some improvement in consistency.
It was a nice trade. http://cdn.forexfactory.com/images/icons/icon14.gif

After we spot 1h pinbar or other signal on htf we should always look to the left and recognize area of rejection. Close of it under our ppa tell us that level hold. So waiting for pullback to our ppa line is natural. I know that there are sitting PO for short ( this case ). Enter directly at that line give us best place to trade ( waiting for 15m pa also fine but we could missed some part of the move)
  • #1,828
  • Edited 12:38pm Sep 30, 2010 11:30am | Edited 12:38pm
Here was that 3 consecutive ib trade that i posted a time or two earlier, good one on ej earlier, was also a ascending triangle breakout. It breaks pretty hard a high percentage here when tightend up like that, and if it breaks with the trend even better.

Edit: Sorry pretty wide screen, but you can see it on the far right
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  • #1,829
  • Sep 30, 2010 11:40am Sep 30, 2010 11:40am
Charts .. I can never repeat enough if you can ever start to trust your levels and PPA, and the fact that support becomes resistance and resistance becomes support. Then use some of EO's MA's for a quick refrence to posible entries if you can't see the price Action unfolding.

Here is two charts e/j and g/u .. Again all the lines on these charts were drawn many months ago.. But since they were in play when I started using this platform again . i left them and you can see they are as good as they were in the past..

But don't trust me get out your horiz. line tool and place a few lines and see for yourself..

ps. I use red for lines off the daily chart more important and white is for lines off the 4 hr chart..
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Good Trading To All ; Ken Lee
  • #1,830
  • Oct 1, 2010 3:58am Oct 1, 2010 3:58am
Did you notice how those two red (daily) PPA-S/R lines played out again on the GBP this Morning .. A test of the 1.5707 line then a engulfing candle. back up to 1.5805 line 100 pipper..

That could be enough for a weeks worth of trading depending on your risk and goals..

On E/J the 62 ema, the mid level MA on the hrly sent it back up.. How do we know to give it ago. It coresponded with the 50% fib line ( Trading Zone ) spot on. But the 62 ema is a nice instant notification that a possiblity is in the making..

Fib pulled from 113.395 to 114.078

Trade Happy Ken
Good Trading To All ; Ken Lee
  • #1,831
  • Oct 1, 2010 4:08am Oct 1, 2010 4:08am
Plus both could have been traded off the higher time frames or a confirmation of the trades off those would have shown them to be easier to take..

GBP had a pin on 4 hr then one later on 1 hr

e/j had a pin from yesterday on 4 hr and a IB on hrly , Not the best but not against your entry is the point. In the past I had used only IB's as signals..
Good Trading To All ; Ken Lee
  • #1,832
  • Oct 1, 2010 4:14am Oct 1, 2010 4:14am
and on the e/j draw a line at that 62 ema entry and your PPA= S/R also comes clear.. When you look at your charts even if you don't have the levels drawn . The Horiziontal Line that is attached to your price shows it all, The key is to always look left first. Just like when you come to a busy intersection in your car or even walking. It will keep you from getting flattened.

There are many times I take trades off nothing more than that price line as it has all the same information.. Especially if I am trolling pairs I don't trade all the time and may not have hte charts plotted with levels..
Good Trading To All ; Ken Lee
  • #1,833
  • Oct 1, 2010 4:15am Oct 1, 2010 4:15am
The above have been said ,, When I do have a RED line drawn on my chart not to take notice is the same as running a RED light .. and what happens next would be my fault..
Good Trading To All ; Ken Lee
  • #1,834
  • Oct 1, 2010 9:10am Oct 1, 2010 9:10am
Ken,

Speaking of fibs/retracement trades, I've been going back through EO's thread and reading it page by page. I noticed on one post you talked about what you and Pippinole called the "50/50 trade", where you wait for the 50MA and the 50% fib to line up on the 15M chart. I took a few in demo yesterday.. ... highly reliable trade. Using that and just eyeballing for swings you can make some very accurate picks.
  • #1,835
  • Oct 1, 2010 9:14am Oct 1, 2010 9:14am
Price just bounced 40 pips in 5 mins from the 62ema on gu, was at the 50fib line as well.

I might have to look a little closer again on this bugger
  • #1,836
  • Oct 1, 2010 9:16am Oct 1, 2010 9:16am
Quoting Storeball
Price just bounced 40 pips in 5 mins from the 62ema on gu, was at the 50fib line as well.

I might have to look a little closer again on this bugger
News release ISM,,

Could have turned many pairs at the major MA's
Good Trading To All ; Ken Lee
  • #1,837
  • Oct 1, 2010 9:20am Oct 1, 2010 9:20am
Quoting dr mongolia
Ken,

Speaking of fibs/retracement trades, I've been going back through EO's thread and reading it page by page. I noticed on one post you talked about what you and Pippinole called the "50/50 trade", where you wait for the 50MA and the 50% fib to line up on the 15M chart. I took a few in demo yesterday.. ... highly reliable trade. Using that and just eyeballing for swings you can make some very accurate picks.

Yes The trading zone in conjunction with the major MA's and Supporting PPA-S/R can't be beat . I will almost always take those spot on with a tight stop.

Not matter what your using to enter you have a stop placement in mind and that is the key to any good trade , Knowing when it is over and not risking to uch to see..

Took short yesterday on OZ Aud/USD. from a ppa level and the previous days low. so again 3 items of confluence . I look for those and don't even hesitate to trade. But stop is right above that line
Good Trading To All ; Ken Lee
  • #1,838
  • Oct 1, 2010 9:23am Oct 1, 2010 9:23am
Quoting dr mongolia
Ken,

Speaking of fibs/retracement trades, I've been going back through EO's thread and reading it page by page. I noticed on one post you talked about what you and Pippinole called the "50/50 trade", where you wait for the 50MA and the 50% fib to line up on the 15M chart. I took a few in demo yesterday.. ... highly reliable trade. Using that and just eyeballing for swings you can make some very accurate picks.

I have mentioned before . That I don't think it is any coiencdence that the 50 fib and the 50 ma react together as well as the 61.8 and the 62 ema on hrly.. That should be easy to remember to look for as well..
Good Trading To All ; Ken Lee
  • #1,839
  • Oct 1, 2010 9:23am Oct 1, 2010 9:23am
Quoting Kenneth Lee
News release ISM,,

Could have turned many pairs at the major MA's
Yepp true, just found it interesting as I havent used the 62 ema in a while.

Usd/cad didnt react to badly on the 62 either
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  • #1,840
  • Oct 2, 2010 12:09pm Oct 2, 2010 12:09pm
Going through the week with the vhand application i posted earlier, thought id post a couple of possible pa entries on gu that i saw on monday. Eventhough the vhands play it "live" its still hindsight, alot of those entries are very aggressive i know. But doing stuff like this is a great way to train our eyes to spot potential setups.
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