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Ken's Continuing Successes with EO's system

  • #1,901
  • Oct 5, 2010 8:41am Oct 5, 2010 8:41am
Quoting wickstedFX
Morning Ken

What MAs are you using?

Thanks

WFX
You can find all the MAs and basic info from the PDFs/links on the first page of the thread. Several different MAs on different time frames are used so you'll want to look it over carefully.
  • #1,902
  • Oct 5, 2010 8:47am Oct 5, 2010 8:47am
I took this EUR/AUD short off of the rejection of a daily S/R and trendline. Also got the 1H shown here. My stop is right above the wick but I'm planning on holding on to this one for a few days, that daily channel is huge.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EUR_AUD 1H.png Size: 24 KB
Click to Enlarge Name: EUR_AUD 1D.png Size: 30 KB
  • #1,903
  • Oct 5, 2010 9:07am Oct 5, 2010 9:07am
Quoting Kenneth Lee
chart
The learning to SEE clearly is the key. Then just like driving you start doing the right thing without thinking. I wrote one time that trying to teach trading by writing was like trying to teach driving by text , Think of all the different problems you could get into driving and try and think how to teach that. All you can do is teach the basics and hope they drive long enough to get good at it .. LOL
I've found this to be very true. I've actually been having more success the less I read about trading. It makes sense -- when you're reading about forex you can't be trading forex! You can also get information overload from reading too much without "solidifying" that knowledge into practice.
  • #1,904
  • Oct 5, 2010 9:11am Oct 5, 2010 9:11am
If anyone is currently trading you might want to take a peek at AUD/USD. The 1H has just opened 10 minutes ago but it's showing strong rejection off a trendline after a big run up, and it's also showing rejection off the 50/62MAs. The current 15M candle is shaping up to be a pin as well, and its got some nice PPA to the left.

15M chart on the left, 1H chart on the right.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUD_USD 15M.png Size: 23 KB
Click to Enlarge Name: AUD_USD 1H.png Size: 28 KB
  • #1,905
  • Oct 5, 2010 10:11am Oct 5, 2010 10:11am
Quoting dr mongolia
If anyone is currently trading you might want to take a peek at AUD/USD. The 1H has just opened 10 minutes ago but it's showing strong rejection off a trendline after a big run up, and it's also showing rejection off the 50/62MAs. The current 15M candle is shaping up to be a pin as well, and its got some nice PPA to the left.

15M chart on the left, 1H chart on the right.
Ouch! So much for that trade. It's nearing a 4H and daily trend line but I'd want a lot of confirmation to reenter.
  • #1,906
  • Oct 5, 2010 10:16am Oct 5, 2010 10:16am
Quoting dr mongolia
Ouch! So much for that trade. It's nearing a 4H and daily trend line but I'd want a lot of confirmation to reenter.
Im short on her now. Divergence pin ppa. Shes gotta come down some time right?
  • #1,907
  • Oct 5, 2010 10:24am Oct 5, 2010 10:24am
Quoting Storeball
Im short on her now. Divergence pin ppa. Shes gotta come down some time right?
Yeah there's a lot of resistance above the current area so it looks good. I ended up going short on AUD/JPY instead for now, and I think I'll short AUD/USD as well once it closes below the 10EMA on the 15M.
  • #1,908
  • Oct 5, 2010 10:27am Oct 5, 2010 10:27am
Quoting dr mongolia
Yeah there's a lot of resistance above the current area so it looks good. I ended up going short on AUD/JPY instead for now, and I think I'll short AUD/USD as well once it closes below the 10EMA on the 15M.
Hope you got a huge lot so we can get this rolling properly
  • #1,909
  • Oct 5, 2010 10:32am Oct 5, 2010 10:32am
watching us/chf? Just went for a nice short there.
  • #1,910
  • Oct 5, 2010 10:38am Oct 5, 2010 10:38am
Quoting Storeball
watching us/chf? Just went for a nice short there.
Yeah, I'm paranoid on that one though due to this 4H trendline. But everytime it comes up to the 35/50 on the 15M lately I've been taking a short.
Attached Image (click to enlarge)
Click to Enlarge Name: USD_CHF Spot.png Size: 33 KB
  • #1,911
  • Oct 5, 2010 10:46am Oct 5, 2010 10:46am
Quoting dr mongolia
Yeah, I'm paranoid on that one though due to this 4H trendline. But everytime it comes up to the 35/50 on the 15M lately I've been taking a short.
Closed for 8pips just gave me 1:1 Yeah not looking to hold that short very long
  • #1,912
  • Oct 5, 2010 11:51am Oct 5, 2010 11:51am
Quoting Storeball
Im short on her now. Divergence pin ppa. Shes gotta come down some time right?
Got stopped at be after what seemed like an eternity. Friggin australians and their strong ass currency
  • #1,913
  • Oct 5, 2010 12:20pm Oct 5, 2010 12:20pm
Quoting Storeball
Got stopped at be after what seemed like an eternity. Friggin australians and their strong ass currency
Yeah I took two losses on AUD pairs today. I got the top of EUR/AUD off the daily earlier so I was hoping it'd be a big day, but got brought back down to earth by AUD/JPY and AUD/USD I've got those losing charts saved, I'm going to look back over them after the US close for some hints.
  • #1,914
  • Oct 5, 2010 12:35pm Oct 5, 2010 12:35pm
Quoting dr mongolia
Yeah I took two losses on AUD pairs today. I got the top of EUR/AUD off the daily earlier so I was hoping it'd be a big day, but got brought back down to earth by AUD/JPY and AUD/USD I've got those losing charts saved, I'm going to look back over them after the US close for some hints.
Smart move I always take a screenshot with where I entered and where i got out when I take a trade, copy it to a word file where I also write why I took it, what the result where and what I think of the trade in hindsight. Great learning tool and a good way to actually see if i am really trading according to my plan.
  • #1,915
  • Oct 6, 2010 10:22am Oct 6, 2010 10:22am
There were some decent ma trades today if you were quick ,, messy PA all around.. But the scalper could have gotten a few.

Be safe protect your equity .. Ken

Having a trackball issue so Computor maintenance happening here..
Good Trading To All ; Ken Lee
  • #1,916
  • Oct 6, 2010 11:29am Oct 6, 2010 11:29am
Quoting Kenneth Lee
There were some decent ma trades today if you were quick ,, messy PA all around.. But the scalper could have gotten a few.
Yes, rough day.. I only had 1 good trade, which was a long on G/U. Price tested the bottom of a range bound area (purple on the 1H chart to the left) which was the top of the previous range bound area, and also a S/R line that I've had on my chart for months. The bottom of the range also coincided with the 50/62MAs on the 1H. The 15M shows my entry, I was trying to make sure I didn't get burnt on a breakout so I waited until price crossed the 50/62/range and then retested. I've been holding for a while, aiming for the top of the range.. I'll take half there and set the rest to +50.

Some pairs have been moving a good bit over the last 30 minutes so we might see some strong activity this afternoon. If not I'm hoping for some good scalps after the Asian open.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBP_USD Spot.png Size: 24 KB
Click to Enlarge Name: GBP_USD 15M.png Size: 23 KB
  • #1,917
  • Oct 6, 2010 11:44am Oct 6, 2010 11:44am
E/J just broke out of a range that it's been in for a while (15M chart attached to the left). The top of the range represents the high of yesterday and the previous day. The 4H looks bullish and has been in nice trend lately (4H attached to the right). Might be a runner.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EUR_JPY Spot.png Size: 28 KB
Click to Enlarge Name: EUR_JPY Spot 4H.png Size: 23 KB
  • #1,918
  • Oct 6, 2010 4:22pm Oct 6, 2010 4:22pm
about todays usdcad ppa lines
Attached Image (click to enlarge)
Click to Enlarge Name: ucsr.jpg Size: 182 KB
  • #1,919
  • Oct 7, 2010 3:39am Oct 7, 2010 3:39am
Anyone got the 1hr 62ema touch on ej? Confluence with round number, 61,8 fib and ppa. Was also a nice rejection move from 200ma on 15 min.
  • #1,920
  • Oct 7, 2010 3:55am Oct 7, 2010 3:55am
Quoting Storeball
Anyone got the 1hr 62ema touch on ej? Confluence with round number, 61,8 fib and ppa. Was also a nice rejection move from 200ma on 15 min.
Nope, close my short near there and didn`t reverse. 4h trend line could be trigger for this trade. I admit that we got nice confluence there.
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