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Ken's Continuing Successes with EO's system

  • #2,521
  • Nov 9, 2010 5:30pm Nov 9, 2010 5:30pm
Quoting dr mongolia
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..
Took half at +50, got a lot of traffic here (backside of 4H TL, daily 50MA and 4H 50MA).. if it bounces back up to 130.55 and retests successfully I'll add back..

Anyone else on and looking to trade the Asian session? I'll pipe down otherwise, I don't want there being any evidence of me talking to myself..
  • #2,522
  • Nov 9, 2010 5:58pm Nov 9, 2010 5:58pm
anyone else looking at that delicious triple bottom on the 1hr chart on e/u, its at a solid turning point lately too.

edit: I am long at 3769 with a stop at 3747.
  • #2,523
  • Nov 9, 2010 6:20pm Nov 9, 2010 6:20pm
the eu trade is struggling to get up past the 3780 level a point of intraday resistance from this afternoon. Got out at BE, don't like where this is headed will look for a better seat on the bus.
  • #2,524
  • Nov 9, 2010 6:31pm Nov 9, 2010 6:31pm
I got in short on GU at 1.6006 after it couldn't get back above 1.6010 (daily level).. Before this price had bounced right off last weeks low and now its charging back to re-test it. No telling what's going to happen from here so I took half at +20 and covered, but it's a key area so there's likely to be a big move -- if it breaks below 1.595X we'll probably have another nice bearish day. If it holds I'm not sure where to look for a long seat yet but we trade what we see.. so we'll find one instead of rushing..
  • #2,525
  • Nov 9, 2010 7:38pm Nov 9, 2010 7:38pm
Hi Ken

I see your last posts have been back to your normal best. Nothing less!

Will the channel hold...

Attached Image
It's a dirty job but someone's gotta do it!
  • #2,526
  • Nov 10, 2010 12:23am Nov 10, 2010 12:23am
Good day everyone.

Im still holding my shorts on usd/chf. Moved my SL higher to 0.9730 though.

Also still holding my shrots on gbp/jpy.

Entered longs on e/u based on 4H and daily charts.. entered at 1.3760

Stop 20pips below today's low. 1st Target is 1.3805

What you guys think?
  • #2,527
  • Nov 10, 2010 2:52am Nov 10, 2010 2:52am
Quoting 168ipoh
Good day everyone.

Im still holding my shorts on usd/chf. Moved my SL higher to 0.9730 though.

Also still holding my shrots on gbp/jpy.

Entered longs on e/u based on 4H and daily charts.. entered at 1.3760

Stop 20pips below today's low. 1st Target is 1.3805

What you guys think?
If you have an abstract mind, there is a head and shoulders on M15 GJ. Poor fellow must have some sort of terrible deforming disease though, life can be so cruel
  • #2,528
  • Nov 10, 2010 5:28am Nov 10, 2010 5:28am
Short on 62 ema GU touch with 62.8 Fib a few pips away.

Covered quickly as always with these.
  • #2,529
  • Nov 10, 2010 5:41am Nov 10, 2010 5:41am
Hey Kodziro!

That area trotty took his trade 62 ema. If we draw a horisontal line there, thats a psych line from your definiton right? And you most likely short at that line? Or perhaps if 1h close below?

Just looking through some of your stuff
  • #2,530
  • Nov 10, 2010 5:44am Nov 10, 2010 5:44am
Quoting Trotty
Short on 62 ema GU touch with 62.8 Fib a few pips away.

Covered quickly as always with these.

The joys of covering! Out at BE, next.
  • #2,531
  • Nov 10, 2010 5:46am Nov 10, 2010 5:46am
Quoting Storeball
Hey Kodziro!

That area trotty took his trade 62 ema. If we draw a horisontal line there, thats a psych line from your definiton right? And you most likely short at that line? Or perhaps if 1h close below?

Just looking through some of your stuff
I had and S+R line there too, always look for confluence with touches.

When price is moving like that though, i'd always favour covering quickly as I did.
  • #2,532
  • Nov 10, 2010 5:49am Nov 10, 2010 5:49am
Quoting Trotty
I had and S+R line there too, always look for confluence with touches.

When price is moving like that though, i'd always favour covering quickly as I did.
Yepp, lets hope she comes back and gives us a ride on the long train
  • #2,533
  • Nov 10, 2010 5:50am Nov 10, 2010 5:50am
Quoting Storeball
Hey Kodziro!

That area trotty took his trade 62 ema. If we draw a horisontal line there, thats a psych line from your definiton right? And you most likely short at that line? Or perhaps if 1h close below?

Just looking through some of your stuff
If I had psych line + major ma I trade it at touch. Closing below also good for shorting near at end of rejecton wick.

Here`s another important ( psych line ) that played me twice at a/u
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  • #2,534
  • Nov 10, 2010 5:51am Nov 10, 2010 5:51am
Quoting Storeball
Yepp, lets hope she comes back and gives us a ride on the long train
  • #2,535
  • Nov 10, 2010 5:53am Nov 10, 2010 5:53am
Quoting kodziro
If I had psych line + major ma I trade it at touch. Closing below also good for shorting near at end of rejecton wick.

Here`s another important ( psych line ) that played me twice at a/u
Im starting to enjoy those as well now eventually. Thanks bro!
  • #2,536
  • Nov 10, 2010 6:01am Nov 10, 2010 6:01am
One more thing man while we're on it if its ok

I know you like to draw psych line from the end of the wick right? How would you place it here, with regards to where the arrows are. Seeing as the intention is taking a trade directly on the line with a small stop, slight changes can make a difference.
Attached Image (click to enlarge)
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  • #2,537
  • Nov 10, 2010 6:20am Nov 10, 2010 6:20am
Quoting Storeball
One more thing man while we're on it if its ok

I know you like to draw psych line from the end of the wick right? How would you place it here, with regards to where the arrows are. Seeing as the intention is taking a trade directly on the line with a small stop, slight changes can make a difference.
Here is what i see. I mark 1h psych line.
1.6086 is also imortant line but with move like this I wait for 1h close under it.

ps. sory for late reply had to deal with open positions
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  • #2,538
  • Nov 10, 2010 6:32am Nov 10, 2010 6:32am
Quoting kodziro
Here is what i see. I mark 1h psych line.
1.6086 is also imortant line but with move like this I wait for 1h close under it.

ps. sory for late reply had to deal with open positions
Thanks again man! The whole thing about psych lines is interesting, I havent heard anyone else talk about them before, is it something you picked up yourself or got from somewhere else?
  • #2,539
  • Nov 10, 2010 6:48am Nov 10, 2010 6:48am
Quoting Storeball
Thanks again man! The whole thing about psych lines is interesting, I havent heard anyone else talk about them before, is it something you picked up yourself or got from somewhere else?
It is just ordinary ppa line that was tested, traders think that if one time held the price it may do it again so they put tp or po there and we see reaction.
  • #2,540
  • Nov 10, 2010 6:54am Nov 10, 2010 6:54am
Quoting kodziro
It is just ordinary ppa line that was tested, traders think that if one time held the price it may do it again so they put tp or po there and we see reaction.
Yea it basically is, thats true. But its more to the point kinda line with exact touches and a pretty specific line rather then an area. And as you said usually tend to give a very tradable reaction as well.

Its all good stuff to carry in our bag of tricks
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