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Ken's Continuing Successes with EO's system

  • #2,501
  • Nov 9, 2010 10:20am Nov 9, 2010 10:20am
I took the touch off the Asia low, 1.6070.. not sure what it'll give me but just knew it would bounce enough to cover (at BE) so went for it.

Now I'm looking back at my charts and trying to figure out what could have tipped me off to short at 1.618x.. It looks like 1.6182 was the weekly open and price went up just 2 pips past that and then starts its descent
  • #2,502
  • Nov 9, 2010 10:23am Nov 9, 2010 10:23am
Quoting dr mongolia
I took the touch off the Asia low, 1.6070.. not sure what it'll give me but just knew it would bounce enough to cover (at BE) so went for it.
LOL, didn't last long as expected, but no loss. Now we wait for a short..
  • #2,503
  • Nov 9, 2010 10:45am Nov 9, 2010 10:45am
GBP/JPY looks good for a long on 15mins

But on 4H price is on 50MA. I do expect a bounce off it.

On 1H price is on the 200MA.

We still have an hour plus b4 the 4H closes.

Perhaps the next 1hour candle will be a bullish one?
  • #2,504
  • Nov 9, 2010 11:04am Nov 9, 2010 11:04am
I just grabbed 17pips off E/J on the morning star formation at 11:15, not a bad little gain.
Attached Image
  • #2,505
  • Nov 9, 2010 12:55pm Nov 9, 2010 12:55pm
Quoting dr mongolia
..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.
That E/J trade turned out to be half at +20 and half BE.. The A/U trade turned out very well, half at +20 rest at about 100, here's the 15M (first) and 1H (second). Price has been running up to this area and falling for several days.

It would have been a very good day for me but I just lost some of those gains trying a G/J short. Oh well, got to take all the good setups when we see them otherwise you risk missing all the great trades.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUD_USD 15M.png Size: 25 KB
Click to Enlarge Name: AUD_USD 1H.png Size: 25 KB
  • #2,506
  • Nov 9, 2010 1:10pm Nov 9, 2010 1:10pm
Im short on usd/chf on 0.9660

TP 0.9610

SL 0.9710

Based on 4H resistance and 15min candles.
  • #2,507
  • Nov 9, 2010 1:16pm Nov 9, 2010 1:16pm
It looks like G/J might give a really nice entry opportunity in a few minutes.. It's made several new lows today, and now it's running up to try and test the day's high which was during the Asian session. It's right up against the daily 50 and also the 1H 62/50. Weekly pivot as well.
  • #2,508
  • Nov 9, 2010 1:24pm Nov 9, 2010 1:24pm
Quoting 168ipoh
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?
Closed for profits just now.
  • #2,509
  • Nov 9, 2010 1:25pm Nov 9, 2010 1:25pm
Quoting 168ipoh
GBP/JPY looks good for a long on 15mins

But on 4H price is on 50MA. I do expect a bounce off it.

On 1H price is on the 200MA.

We still have an hour plus b4 the 4H closes.

Perhaps the next 1hour candle will be a bullish one?
Closed for 70pips profit
  • #2,510
  • Edited 1:39pm Nov 9, 2010 1:26pm | Edited 1:39pm
Quoting dr mongolia
It looks like G/J might give a really nice entry opportunity in a few minutes.. It's made several new lows today, and now it's running up to try and test the day's high which was during the Asian session. It's right up against the daily 50 and also the 1H 62/50. Weekly pivot as well.

Looks good to me......might wait a bit more though

I think it will take out 131.00 level. Above 131 level should be ok to short.

A strong 50% retracement from the top.

Current price is at the top of the descending TL from the top.

Im in already at 130.90 with stop at 131.40

My first target is 130.00
  • #2,511
  • Nov 9, 2010 1:34pm Nov 9, 2010 1:34pm
Quoting 168ipoh
Looks good to me......might wait a bit more though
Yeah, need a rejection signal for this one to go short.. It's "on the fence" right now.. If it breaks out I'm not sure that I'm comfortable going long on the retest so I might just let it be
  • #2,512
  • Nov 9, 2010 1:38pm Nov 9, 2010 1:38pm
LOL, or maybe it will just stall since it knows I'm waiting on it before I go grab lunch
  • #2,513
  • Nov 9, 2010 1:47pm Nov 9, 2010 1:47pm
G/J 30min candle is just below 200SMA

Hopefully the 30min candle can close below the previous candle high

Turning point?

A few factors pointing downwards. However nothing is certain for sure.
  • #2,514
  • Nov 9, 2010 2:30pm Nov 9, 2010 2:30pm
Well we got our rejection.. I'd feel a lot better with a 15M close below 130.78 though
  • #2,515
  • Nov 9, 2010 2:41pm Nov 9, 2010 2:41pm
Quoting 168ipoh
Closed for 70pips profit


Nice work!
  • #2,516
  • Nov 9, 2010 2:42pm Nov 9, 2010 2:42pm
Quoting dr mongolia
Well we got our rejection.. I'd feel a lot better with a 15M close below 130.78 though
The next 4Hour candle will be very interesting though. I closed my short for some 15pips.

Goin to short g/j again later when it tests the descending TL again
  • #2,517
  • Nov 9, 2010 3:02pm Nov 9, 2010 3:02pm
Quoting 168ipoh
The next 4Hour candle will be very interesting though. I closed my short for some 15pips.

Goin to short g/j again later when it tests the descending TL again
Here's my 4H (got time set to GMT) first chart, then daily second chart..

Also if the daily closes like this it'll be really interesting because I'm thinking we'll see price go down the wick of the daily hammer and then go back up to test 131.5Xish at least.. so we could get a nice short here, then a nice long during Asia tonight or London/US tomorrow
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBP_JPY Spot.png Size: 24 KB
Click to Enlarge Name: GBP_JPY Daily.png Size: 26 KB
  • #2,518
  • Nov 9, 2010 3:11pm Nov 9, 2010 3:11pm
Quoting dr mongolia
Here's my 4H (got time set to GMT) first chart, then daily second chart..

Also if the daily closes like this it'll be really interesting because I'm thinking we'll see price go down the wick of the daily hammer and then go back up to test 131.5Xish at least.. so we could get a nice short here, then a nice long during Asia tonight or London/US tomorrow
Price on g/j H4 candle is at resistance which was support (supported twice and broken on the 3rd try and now being tested)

Well I do not think the first try will be able to break the strong resistance. Will try to short above the resistance line and put a SL 30pips higher
  • #2,519
  • Nov 9, 2010 3:29pm Nov 9, 2010 3:29pm
Guys look at USD/JPY 4H...

There is a strong resistance area at current price.

I was thinking of reentering short GBP/JPY but seems like USD/JPY would be a better choice just in case GBP/USD decides to rally later.

Im already short from 81.75 targeting 81.35
  • #2,520
  • Nov 9, 2010 3:58pm Nov 9, 2010 3:58pm
Quoting 168ipoh
Guys look at USD/JPY 4H...

There is a strong resistance area at current price.

I was thinking of reentering short GBP/JPY but seems like USD/JPY would be a better choice just in case GBP/USD decides to rally later.

Im already short from 81.75 targeting 81.35
The spread on G/J also tends to get terrible at this time of the day.. I'm just glad it's got a good ways to fall so hopefully I won't close until we hit Asian liquidity in a few hrs..
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