Hey Ken, we got that exact sort of setup on EJ that you commented on earlier - the inverted hammer!
I took it and scalped the profit. Awesome, cheers
Ken's Continuing Successes with EO's system
- #2,642
- Nov 11, 2010 11:31am Nov 11, 2010 11:31am
- Joined Nov 2008 | Status: Trade Inspiration Not Despiration . | 4,827 Posts
Good Trading To All ; Ken Lee
- #2,651
- Nov 11, 2010 2:54pm Nov 11, 2010 2:54pm
Sorry meant to respond to this part too --
I didn't consider the GMT 9:30-10:00 candles as the ping pong area because I saw that as a test of the Asian low / daily open area before price went back up a little bit and started ranging.. It looks like a higher percentage trade to me, but it could definitely fail, or might just range around where it's at right now
Possible lower high on 15min now so we might see a move down
Yeah I'm terrible at picking an exact point so I'm seeing the "demark" as the 1.611's, mainly 1.6113 (open) to 1.6118 (had it as daily S/R). It looks like it's not able to close above that area but we're also not getting a bounce after several tries so that doesn't fare well for my position 
I'm trying to figure out what to do if price closes in the 1.612's -- maybe a long once it gets on the other side of the 35/50, but at that point it would be right back in the range it was playing earlier so I don't think I'd be comfortable with that. I'd probably sit out at that point.
I'm trying to figure out what to do if price closes in the 1.612's -- maybe a long once it gets on the other side of the 35/50, but at that point it would be right back in the range it was playing earlier so I don't think I'd be comfortable with that. I'd probably sit out at that point.
- #2,653
- Nov 11, 2010 3:28pm Nov 11, 2010 3:28pm
Yeah I'm terrible at picking an exact point so I'm seeing the "demark" as the 1.611's, mainly 1.6113 (open) to 1.6118 (had it as daily S/R). It looks like it's not able to close above that area but we're also not getting a bounce after several tries so that doesn't fare well for my position
I'm trying to figure out what to do if price closes in the 1.612's -- maybe a long once it gets on the other side of the 35/50, but at that point it would be right back in the range it was playing earlier so I don't think I'd be comfortable with that....
With the low liquidity atm it seems as its forming a new range, so gump trading again is coming into play, and then if it develops we can play a breakout if it decides to take of.
Anyways my two cents, always interesting to discuss different views on an area.
- #2,655
- Nov 11, 2010 3:55pm Nov 11, 2010 3:55pm
Yeah that is extremely interesting; I'm surprised at how different the 15M and the 1H look. My 1H looks the same as yours and my 15M is attached.
It's looking like that last candle is going to close in the 20's, I'm out for -9ish if that happens.
Anyways thats it for me today! Gotta catch my monophasic beuty sleep
Have a great asia session doc!
Anyways thats it for me today! Gotta catch my monophasic beuty sleep
Yeah the 1H definitely nailed that level better than the 15M did. The main difference from what I can see is that the 1H included that original test of the Asian low as part of the level, whereas on the 15M it just looks like random noise. Score another one for the higher time frames. I'm not sure I can find a trade on GU during the upcoming Asia session, its just not making much sense now, probably better to toss it out and go with the other pairs.
I have had a profitable but very frustrating Asian session so far; I got a couple E/J shorts and the G/U short off the hangman but I completely, utterly, unexplainably (probably not a word?) missed the A/U short off of parity for the re-test and who knows how long that one is going to run. It's one of the main 4 pairs that I trade and I've been waiting for that short for hours. 