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Ken's Continuing Successes with EO's system

  • #2,361
  • Nov 3, 2010 10:10am Nov 3, 2010 10:10am
I took a short off the 1H hangman on E/J; it will be interesting to see how much this one plays out because it's been a bullish day, but price really started to struggle once it got above 114
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  • #2,362
  • Nov 3, 2010 10:21am Nov 3, 2010 10:21am
Quoting dr mongolia
I took a short off the 1H hangman on E/J; it will be interesting to see how much this one plays out because it's been a bullish day, but price really started to struggle once it got above 114
Im in this as well. Look at how price dropped last time it visited that area.

Not super confident about the setup itself but good r:r. I got in on 123 formation and engulfing on 15min.
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  • #2,363
  • Nov 3, 2010 10:22am Nov 3, 2010 10:22am
Quoting dr mongolia
I haven't been posting any charts lately and that's a bad habit to get into for me, posting charts makes me think more about my trades

I just took the 50/50 retracement trade on GU; it was retracing pretty hard but it did bounce right off the 50
I got stopped out on this one; Usually these at least give enough room to cover and take some profit. If the 4H closes like it is now on we'll get a pretty massive DBHLC.
  • #2,364
  • Nov 3, 2010 10:24am Nov 3, 2010 10:24am
Quoting Storeball
Im in this as well. Look at how price dropped last time it visited that area.

Not super confident about the setup itself but good r:r. I got in on 123 formation and engulfing on 15min.
If we can just get a 15M close below 114 we should be good.. and if the 1H in about 35 minutes closes below 113.90 I think we'll have a great trade
  • #2,365
  • Nov 3, 2010 10:29am Nov 3, 2010 10:29am
Quoting Storeball
Going to be interesting to see how the us elections effect price today, some choppiness wouldnt be surprising

This is the long term trendline that held price all day yesterday on gu, lets see how it plays out today.
Price has come back to this line again for the first time. Might get a setup long.
  • #2,366
  • Nov 3, 2010 11:38am Nov 3, 2010 11:38am
Quoting Storeball
Im in this as well. Look at how price dropped last time it visited that area.

Not super confident about the setup itself but good r:r. I got in on 123 formation and engulfing on 15min.
Im out at +1. No momentum and starting to form a range, might not see anything until the big news later.
  • #2,367
  • Nov 3, 2010 11:56am Nov 3, 2010 11:56am
Quoting Storeball
Im out at +1. No momentum and starting to form a range, might not see anything until the big news later.
I got out as well, everything is probably stalling to see what happens
  • #2,368
  • Nov 3, 2010 2:09pm Nov 3, 2010 2:09pm
LOL. I'm not even trying to make any sense of this. Just been watching. It looks like the non dollar pairs are a lot calmer then the rest, I might look for an E/J or G/J trade..
  • #2,369
  • Nov 3, 2010 2:12pm Nov 3, 2010 2:12pm
Quoting dr mongolia
LOL. I'm not even trying to make any sense of this. Just been watching. It looks like the non dollar pairs are a lot calmer then the rest, I might look for an E/J or G/J trade..
EJ is having trouble at the Weekly R2. It also bounced right off of the Weekly 35. Maybe a short opportunity, but still risky right now
  • #2,370
  • Nov 3, 2010 4:14pm Nov 3, 2010 4:14pm
Quoting dr mongolia
LOL. I'm not even trying to make any sense of this. Just been watching. It looks like the non dollar pairs are a lot calmer then the rest, I might look for an E/J or G/J trade..
That was crazy, just came back from the working out to see how it all went down. On eu you can see on the 1min chart, almost a 200pip bar

Now thats volatility!
  • #2,371
  • Nov 3, 2010 4:58pm Nov 3, 2010 4:58pm
Hey ken and company,

I’ve been lurking in here for a while trying to catch up on reading through this thread as well as EO’s thread. I want to express my appreciation for your carrying the ball as the EO thread seems to have lost steam. I understand that keeping up with a thread like this for so long can be taxing… pun intended.

In any event, I’m embarrassed to say how long I’ve been trading but it seem that I’ve had all the pieces of the puzzle and I’m just now learning where they go. I hope to be more of a contributor to the thread after a while, but for now I am going to watch and learn and continue to trade demo accounts and leave the live accounts be for a time.

Thanks again and I look forward to becoming more of a contributor here
Andy
Consistency separates luck from Skill
  • #2,372
  • Nov 4, 2010 5:04am Nov 4, 2010 5:04am
Hello guys.

This week don`t have much time for trading. Got only 5 trades so far.
Now holding my long with AU ( took most profit at +40 -monthly pivot ).


Cheers.

edit : Just set PO at 1.0064
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  • #2,373
  • Nov 4, 2010 9:13am Nov 4, 2010 9:13am
I took a short at the weekly R2 on both G/J and A/U as I had an old trendline there; GU has a real similar setup as well but I'm avoiding it for now, I don't want to have 3 uncovered touch trades running at once
  • #2,374
  • Nov 4, 2010 4:31pm Nov 4, 2010 4:31pm
This has been one of these days for me where it feels like you're slugging it out with the market. Win, lose, win, lose. I'm barely above break even for the day.
  • #2,375
  • Nov 4, 2010 8:07pm Nov 4, 2010 8:07pm
I missed a painfully obvious G/J trade today -- price broke out past Asia's high then came back down to re-test the high 1 pip away from the 15M 50MA plus the 50% fib level I always plot my session highs/lows each morning but I didn't have time this morning, and of course this happens..

So, I've put together a little indicator for ProRealTime that gives you a session high and session low line for each session on the 15M chart; that way you can either leave them as lines or define a color zone or whatever. Let me know if anyone is interested and I'll either post or e-mail you the indicator.
  • #2,376
  • Nov 5, 2010 2:33am Nov 5, 2010 2:33am
Quoting dr mongolia
I missed a painfully obvious G/J trade today -- price broke out past Asia's high then came back down to re-test the high 1 pip away from the 15M 50MA plus the 50% fib level I always plot my session highs/lows each morning but I didn't have time this morning, and of course this happens..

So, I've put together a little indicator for ProRealTime that gives you a session high and session low line for each session on the 15M chart; that way you can either leave them as lines or define a color zone or whatever. Let me know if anyone is interested...
That would be a big help if you wouldn't mind attaching it to the thread
  • #2,377
  • Nov 5, 2010 2:44am Nov 5, 2010 2:44am
Quoting Trotty
That would be a big help if you wouldn't mind attaching it to the thread
would love to try that indicator out myself....thanks again
Raza
  • #2,378
  • Nov 5, 2010 4:53am Nov 5, 2010 4:53am
Here is an indicator that does the same thing but also adds the fibs between the previous sessions high and lows...

Again, this indicator is for MT4
Attached File(s)
File Type: mq4 #SpudFibo.mq4   8 KB | 222 downloads
Consistency separates luck from Skill
  • #2,379
  • Nov 5, 2010 5:20am Nov 5, 2010 5:20am
Morning all.

Not found a way into the market yet this morning, being ultra cautious because of NFP. There was a nice AU entry for a short as it twice got pushed back after attempt to make a new high and one or two "5 o'clock" trades on GU (these are starting to become one of my favourite trades when executed properly) but missed them all.

I wanted to ask Ken or anyone else about DBHLC/DBLHC formations. My understanding is that these terms actually sprang up on this forum via the J16 group. My interpretation was that they are essentially an engulfing pattern with the close being higher or lower than the extreme of the previous candle. But, i've seen a few people - including Ken - refer to candles formations such as the one attached as a DBHLC, I guess based on the fact that they stopped at the same high point but the second candle closed bearish rather than bullish.

Which is the right interpretation here?
Attached Image
  • #2,380
  • Edited 6:04am Nov 5, 2010 5:44am | Edited 6:04am
Quoting Trotty
Morning all.

Not found a way into the market yet this morning, being ultra cautious because of NFP. There was a nice AU entry for a short as it twice got pushed back after attempt to make a new high and one or two "5 o'clock" trades on GU (these are starting to become one of my favourite trades when executed properly) but missed them all.

I wanted to ask Ken or anyone else about DBHLC/DBLHC formations. My understanding is that these terms actually sprang up on this forum via the J16 group. My interpretation was that they are essentially an...

Here is the actual defintion pictures from J16, I always wanted them to be engulfing with the body of the second candle extending past the first. That is also correct but the I/B style is also. It is really a flattie or a tweezer patterna as well. Any two candles that have the same or very close to same high or low but turns back is correct. If you combine both candles you will get a pin is the idea.

In the second picture the DBLHC you can clearly see the close is below the high of the red candles body. This is the JPG from J16, Others have defined it as saying above or below the close of the previous candle. Which has to be as it went the oppositte direction.

Any way a engulfing is always a stronger signal but a Harami or IB is also a good signal. The first strategy I was studying looked for only IB's to take trades. The engulfing as in my picture is showing stronger rejection and combined is a better pin changing the candles body color to support the reversal.

The key in all this , Is that they happen at your KNOWN areas of interest. Ken
Attached Image(s) (click to enlarge)
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Good Trading To All ; Ken Lee
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