Ken's Continuing Successes with EO's system | Page 125 | Forex Factory

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Ken's Continuing Successes with EO's system

  • #2,481
  • Nov 9, 2010 9:13am Nov 9, 2010 9:13am
Quoting ReaperKK
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.
I don't know why she doesn't want to show us her legs .I am sure they are sexi.
  • #2,482
  • Nov 9, 2010 9:13am Nov 9, 2010 9:13am
Quoting Fxfighter
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?
I'm not in that trade any longer bud. I may buy again if I get a good setup, not sure right now though....
  • #2,483
  • Nov 9, 2010 9:15am Nov 9, 2010 9:15am
Quoting Trotty
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....
Yep I got it.I hope I will start to walk soon and hunting these sexi chicks.
  • #2,484
  • Nov 9, 2010 9:17am Nov 9, 2010 9:17am
Quoting ReaperKK
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.
I,ve been with her again but really only for very friendlly kiss.
  • #2,485
  • Nov 9, 2010 9:18am Nov 9, 2010 9:18am
Quoting Fxfighter
I don't know why she doesn't want to show us her legs .I am sure they are sexi.
lol, I got to see them last week for a couple hundred pips through the week but the cold weather is coming in, or maybe she is shy :/
  • #2,486
  • Nov 9, 2010 9:25am Nov 9, 2010 9:25am
Quoting Fxfighter
Yep I think she would like to go north from this area but I took quick 12 pips and just watching her.

Yeah not to sure of it yet either took 18 off the 50 ema . long It will have to break this AREA for me to try anything long term. up or down . Mybe London fix will let it show something.
Good Trading To All ; Ken Lee
  • #2,487
  • Nov 9, 2010 9:32am Nov 9, 2010 9:32am
Asia's high from last night is showing really good support at 1.615x.. if it holds this could be good news for a nice up move, higher high at least. I'm not sure where we're going if we fall though
  • #2,488
  • Nov 9, 2010 9:39am Nov 9, 2010 9:39am
If you were take it off the 50 ema

The first thing we look for is a higher high

didn't get it so took some small gains 18

Now we wait for a reversal signal within our zone

50% and 61% the preffered areas

but all we have to do is look to the left for PPA to see the more likely
bounce areas. 1.6128 at the 50% looks promising but a retest below 61.8% 1.6100 can't be ruled out , that is also close to yesterdays low.

So a reversal pattern in any of these areas could be worth a try .But remember it may be a long trade with London fixing to close. If you get the right entry and your Risk allows you can posssiblly hold through more than one of those entry points.

But there are no absolutes in trading Just because it can doesn't mena it will . That is why after just getting a scalp and price making a lower low now , Care should be taken .
Good Trading To All ; Ken Lee
  • #2,489
  • Nov 9, 2010 9:41am Nov 9, 2010 9:41am
I am with her short but she will come back I guess lol
  • #2,490
  • Nov 9, 2010 9:42am Nov 9, 2010 9:42am
Plus for the 4 hr to be in agrrement it needs to break 1.6200

doesn't mean it won't but it make take a bit to get there
Good Trading To All ; Ken Lee
  • #2,491
  • Nov 9, 2010 9:46am Nov 9, 2010 9:46am
That isn't a proper lower low as it never made a lower high . But it broke that lame looking descending triangle 15 min. A short for a hold would be off a lower high if it forms one later, What I always look for to switch direction . Unless we get a good breakout retest trade.
Good Trading To All ; Ken Lee
  • #2,492
  • Nov 9, 2010 9:49am Nov 9, 2010 9:49am
As you can skill any area you choose should at bare minnuim give a small bounce which we are getting here . now a nice pin with a green body would be luvlly
Good Trading To All ; Ken Lee
  • #2,493
  • Nov 9, 2010 9:50am Nov 9, 2010 9:50am
Well there it goes.. classic EO 35/50 reverse setup for a trending market; price just made a higher high, lots of volume in the market, etc. I'm guessing his PO for this trade would be around 1.611X but he would enter if he got a hammer before then. I doubt I'm taking it either way because I've got a couple shorts running on A/U and E/J and one isn't covered yet.
  • #2,494
  • Nov 9, 2010 9:52am Nov 9, 2010 9:52am
Quoting Fxfighter
I am with her short but she will come back I guess lol
Ok great half out and Sl BE must to go to work lol.
Happy trading traders.
  • #2,495
  • Nov 9, 2010 9:54am Nov 9, 2010 9:54am
chart withh PPA lines added . some platforms allow extending fib lines both ways . May help some to see. But it is always better to learn to look you may see something a machine doesn't
Attached Image (click to enlarge)
Click to Enlarge Name: tuesday a.JPG Size: 206 KB
Good Trading To All ; Ken Lee
  • #2,496
  • Nov 9, 2010 9:55am Nov 9, 2010 9:55am
Entered a long on usd/chf @ 0.9610

Looking for 0.9670 TP.

SL would be 0.9570.

Price is at H4 support. Expecting a bounce as previous price action resulted bounce up to prices 0.9670s and above.

Any views?
  • #2,497
  • Nov 9, 2010 9:55am Nov 9, 2010 9:55am
Quoting Kenneth Lee
If you were take it off the 50 ema

The first thing we look for is a higher high

didn't get it so took some small gains 18

Now we wait for a reversal signal within our zone

50% and 61% the preffered areas

but all we have to do is look to the left for PPA to see the more likely
bounce areas. 1.6128...
Hey -- awesome stuff Ken! I know it's a pain in the ass to comment while trading but this is the kind of thing that I wish I was around for in the original thread, all the analyzing of areas in real time.
  • #2,498
  • Nov 9, 2010 9:59am Nov 9, 2010 9:59am
Quoting dr mongolia
Hey -- awesome stuff Ken! I know it's a pain in the ass to comment while trading but this is the kind of thing that I wish I was around for in the original thread, all the analyzing of areas in real time.

I know you have read most the thread and you know that EO didn't use Fib levels. They came up with the MA's to superseed their need. 35/50 trade right here would give same results with a 35 pip stop would allow all the entries to be tested .

But the addition of the Trading Zone as I like to call it and we can narrow down the possiblities and lower our risk by scalping each entry if we want to till one takes the ball and runs.
Good Trading To All ; Ken Lee
  • #2,499
  • Nov 9, 2010 10:11am Nov 9, 2010 10:11am
Quoting Kenneth Lee
I know you have read most the thread and you know that EO didn't use Fib levels. They came up with the MA's to superseed their need. 35/50 trade right here would give same results with a 35 pip stop would allow all the entries to be tested .

But the addition of the Trading Zone as I like to call it and we can narrow down the possiblities and lower our risk by scalping each entry if we want to till one takes the ball and runs.
Yeah I've been using your trading zone concept thoroughly, my favorite 15M entry is the 50/50 and 62/62. I really need to go back and reread this thread over from the beginning again, when I first read through it not enough sunk in because I hadn't been trading for long enough. I have a question about that 50MA touch for 18 that you took, I'd like to be able to hit those, but I'll save it until after the US session.
  • #2,500
  • Nov 9, 2010 10:18am Nov 9, 2010 10:18am
well gave back that 18 LOL

should have scalped the 50 % but was putting that chart together so BE for the day .


Yep now a lower high for a short

triple bottom on hrly i never trust the third touch of a rea . But they do hold. Will normally wait for a entry signal on the third touch . as it can blow right through.

Third touch is just another push trying to break the area. like a head and shoulders . But this right shoulder isn't weaker like a classic example would be . These are the things we look for as price is moving little hints to spot weak and strong movements. Smaller candles long wicks patterns.
Good Trading To All ; Ken Lee
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