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Ken's Continuing Successes with EO's system

  • #2,461
  • Nov 9, 2010 6:42am Nov 9, 2010 6:42am
Quoting 168ipoh
Had a winning trade on short usd/chf today based on H4 candle didnt break higher ( candle body close) on the previous high wick

Also had a long profitable gbp/usd trade today based on H4 candle body didnt close lower than the lowest wick.

Currently on e/j and g/j longs

Did you take the trade solely off the 4 hr. Or just decide that was a decent level because of it. Then looked for a entry? The Gbp was pretty easy a double bottom , If you were awake for it.and nice hamme entry pin , , If someone took the the first pin could have gotten stopped. But the candles closed above the first pin everytime though 20 pip stop may have been required to hold it.

t is hard to see after the fact as I watch those for volatility did it drop fast and get rejected just as fats or faster,But you can always see a level building like it did at 1.6090 ish. and 80 is a big number 20 pips before 00. and the 50 ema off the 4hr.

I know this is all hindsight , but you have to start to take notice after the fact before you will ever see it in real time. Why it is good to go over your charts after ttrading to see if you missed any of your favorite trades.

Sorry for taking over this post . Just thought I would pass on what I saw at this level on the gbp.

Don't really watch swizzy it is oppisite E/U so close.
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Good Trading To All ; Ken Lee
  • #2,462
  • Nov 9, 2010 6:43am Nov 9, 2010 6:43am
Quoting Buildcity
A bit earlier than yours, 1.6155 jumped in, 1.5 hrs so far (finished shower and dinner), 1.618 didnt out, still look for around 1.62.......
Nice http://cdn.forexfactory.com/images/icons/icon14.gif

I hope we see price at least on 1.6200 level
  • #2,463
  • Nov 9, 2010 6:45am Nov 9, 2010 6:45am
Quoting Buildcity
A bit earlier than yours, 1.6155 jumped in, 1.5 hrs so far (finished shower and dinner), 1.618 didnt out, still look for around 1.62.......

Yes that was the last entry so far. Now have to wait for it to break higher and a retest to enter or a pull back . Thinking it will not happen to soon so going for breakfast. Nice entry Guys..
Good Trading To All ; Ken Lee
  • #2,464
  • Nov 9, 2010 6:52am Nov 9, 2010 6:52am
Quoting kodziro
Hi

Got this short u/ch too with 0.9681 yesterday same reason as you ( 4h ib bars also help me to make decision )
Could you tell me where was your entry ( and SL ) at g/u after 4h try to close lower than the lowest wick ?
I was long on G/U @ 1.6110...and below.

I put a stop loss at 1.6040 just in case. Was quite confident with the trade.

All positions closed on g/u but as you can see now it istill very bullish.
  • #2,465
  • Nov 9, 2010 6:57am Nov 9, 2010 6:57am
Quoting Kenneth Lee
Did you take the trade solely off the 4 hr. Or just decide that was a decent level because of it. Then looked for a entry?...
Actually there were a few reasons I was confident with the trade as G/U 4H candles were on the Trendline and touching and go on the MA50 on the 4Hour

Also price went down from the top to the 70% Fibo Level. Since it is strong uptrend on 4H. Price has a high % to bounce from the 1.6100 levels.

I'm more comfortable slightly higher TFs goin for more pips. But I still use the 15mins to get a decent entry.

Anyway enjoyed the trades taken. Will post some charts later when I'm free.


PS: Im looking at USD/JPY 4H ....it looks like a good level to start buying. Any inputs?
  • #2,466
  • Nov 9, 2010 7:27am Nov 9, 2010 7:27am
This chart is from Alpari as for trading using oanda but just still didn't have time find out how to save charts lol).
Trade took from this TF but after entry I check 4 TF where was prior bar BUOB so little bit chicken and half @kiss 21Ema 15 TF which is about fib 62%. and Sl B/E+2.
Any comments guys?
FX
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  • #2,467
  • Nov 9, 2010 7:35am Nov 9, 2010 7:35am
Quoting Fxfighter
This chart is from Alpari as for trading using oanda but just still didn't have time find out how to save charts lol).
Trade took from this TF but after entry I check 4 TF where was prior bar BUOB so little bit chicken and half @kiss 21Ema 15 TF which is about fib 62%. and Sl B/E+2.
Any comments guys?
FX
And Why I took it?
Hm pretty sexi pin should be better close but closed below prior bar,nice bounce from Emas's,It is fib.betwen 50 to 62% and well just give a try and manage tight on TF15min.
  • #2,468
  • Nov 9, 2010 7:46am Nov 9, 2010 7:46am
Quoting Fxfighter
And Why I took it?
Hm pretty sexi pin should be better close but closed below prior bar,nice bounce from Emas's,It is fib.betwen 50 to 62% and well just give a try and manage tight on TF15min.
Out rest after pin on 15 minTF.
  • #2,469
  • Nov 9, 2010 7:57am Nov 9, 2010 7:57am
Quoting Buildcity
A bit earlier than yours, 1.6155 jumped in, 1.5 hrs so far (finished shower and dinner), 1.618 didnt out, still look for around 1.62.......
few positive BE out, I'm still no good on this, even just bit of longer term play
  • #2,470
  • Nov 9, 2010 8:04am Nov 9, 2010 8:04am
Nice opurtunity on G/U for touch and we should go north ,what do u think guys?
  • #2,471
  • Nov 9, 2010 8:17am Nov 9, 2010 8:17am
I've been holding long positions for some time off the daily chart although I saw the touch and I thought the same thing.
  • #2,472
  • Nov 9, 2010 8:24am Nov 9, 2010 8:24am
Quoting Trotty
Hmmmm

1:1 (well, a little more) just grabbed off EU. I'll get the trade up later.

Took profit at the H1 MAs. Sometimes a difficult thing to do when she's moving that hard but you have to keep disciplined with those HTF mas. I can always re-enter if it breaks them.

My favourite trades are away from all MAs at once, love them trades
Here is the trade:
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  • #2,473
  • Nov 9, 2010 8:31am Nov 9, 2010 8:31am
Quoting Fxfighter
Nice opurtunity on G/U for touch and we should go north ,what do u think guys?
She is a good girl I took what she gave me.Thanks .
FX
  • #2,474
  • Nov 9, 2010 8:36am Nov 9, 2010 8:36am
Quoting Trotty
Here is the trade:
great trade trader.And yes worried about deepper retreace,put look left trader,that your sexi black line is not one pip line is zone so is look like you are were in tho zone at least form my view.
Great trade
  • #2,475
  • Nov 9, 2010 8:38am Nov 9, 2010 8:38am
Quoting ReaperKK
I've been holding long positions for some time off the daily chart although I saw the touch and I thought the same thing.
Yep I think she would like to go north from this area but I took quick 12 pips and just watching her.
  • #2,476
  • Nov 9, 2010 8:42am Nov 9, 2010 8:42am
Quoting Trotty
Here is the trade:
Trotty question is what u will do if she goes deeper.
get out straight away?
hold did? and buy deeper more?
  • #2,477
  • Nov 9, 2010 8:49am Nov 9, 2010 8:49am
Quoting Fxfighter
great trade trader.And yes worried about deepper retreace,put look left trader,that your sexi black line is not one pip line is zone so is look like you are were in tho zone at least form my view.
Great trade
Cheers man but, this is an indication of where I am with my trading, I was more pissed off than I was pleased as I neglected to take the immediate short.

One trade should lead to another. It doesn't have to and it won't always but I do want to reach that place.
  • #2,478
  • Nov 9, 2010 8:56am Nov 9, 2010 8:56am
Quoting Fxfighter
Trotty question is what u will do if she goes deeper.
get out straight away?
hold did? and buy deeper more?
That's a good question.

After a move like that, the possibility - even after a nice close like that - is still there for it to dip down further before the next impulse move. As it's cleared the two previous highs though, it was always highly improbable that another long push would not be coming at some point.

Now, what i'd like to say is that I woud add to the trade at the 35/50/support area and that would be the logical thing to do. My stop was under it for a good reason. The reality is, i'm mainly still a one trade at a time man. I am busy perfecting my entries and once I am happy with them being close to perfect 80-90%, then I will probably naturally spend more time on trade management perfection and ultimately handling multiple trades in tandem. I would have almost certainly just let the trade play out. Damn my inadequacies.

Get the walking right first and the running will come easy
  • #2,479
  • Nov 9, 2010 9:00am Nov 9, 2010 9:00am
Quoting Trotty
Cheers man but, this is an indication of where I am with my trading, I was more pissed off than I was pleased as I neglected to take the immediate short.

One trade should lead to another. It doesn't have to and it won't always but I do want to reach that place.
Well man I am behind I just asking in the case if she retrace deeper after your entry what will be your plan?
Be honest I really don't know if I will take touch in that case.
Any seniors thoughts about that trade?
  • #2,480
  • Nov 9, 2010 9:07am Nov 9, 2010 9:07am
Quoting Fxfighter
Yep I think she would like to go north from this area but I took quick 12 pips and just watching her.
I wanted to hold it a bit longer so I closed half my trade at 11pips. I'll see what goes down over the next couple of hours.
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