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Ken's Continuing Successes with EO's system

  • #3,281
  • Dec 7, 2010 7:50am Dec 7, 2010 7:50am
This one? Should be out at 1.5822, the upper PPA off from little left
http://www.forexfactory.com/showpost...postcount=1297

Quoting Kenneth Lee
I actually took a small short from that area out of that consolidation to the left for about 18. it was to high in the previous swing to trust for a long run back down so just a scalp.

Was a quick trade after I got off work around midnight eastern time

Nice trade the breakout retest of that area I also have a 4 hr line there 1.5761.
  • #3,282
  • Dec 7, 2010 7:58am Dec 7, 2010 7:58am
Quoting Kenneth Lee
I actually took a small short from that area out of that consolidation to the left for about 18. it was to high in the previous swing to trust for a long run back down so just a scalp.

Was a quick trade after I got off work around midnight eastern time

Nice trade the breakout retest of that area I also have a 4 hr line there 1.5761.
Cheers, I only held 1/5 of my position after the push through 5789 but overall, a nice R/R on this.
  • #3,283
  • Dec 7, 2010 8:01am Dec 7, 2010 8:01am
Quoting Buildcity
This one? Should be out at 1.5822, the upper PPA off from little left
http://www.forexfactory.com/showpost...postcount=1297

This area .
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Good Trading To All ; Ken Lee
  • #3,284
  • Dec 7, 2010 8:02am Dec 7, 2010 8:02am
my first trade this morning has been long gu. I took her at the bounce of the 21 after trendline bounce. I missed any earlier entries north. Price had pushed to the 5820 level. I think it will test that level again and when it does I will either continue long maybe adding to my position or I will close my position and short for the 35 pips I think she will bounce when she hits there again.

I will have to wait and see what happens when she revisits there deep into NY today
Attached Image (click to enlarge)
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  • #3,285
  • Dec 7, 2010 8:04am Dec 7, 2010 8:04am
Quoting Kenneth Lee
This area .
Sorry, I mixed up
  • #3,286
  • Dec 7, 2010 9:17am Dec 7, 2010 9:17am
Well we got a 32 pip bounce. I didn't take it though. After the first test the probability goes down, I closed half my position at 5815 and im letting the other half ride for now.
  • #3,287
  • Dec 7, 2010 9:30am Dec 7, 2010 9:30am
Quoting Storeball
Something iv been thinking about.

Could we make an argument that touch trades infact are a higher probability trade then waiting for candlestick trigger trades?

In some form a candlestick is a lagging indicator, it is after the fact. Knowing we should take most of our entries from either a ma, trading zone or support/resistance line, then to get the tightest entry with the smallest stop isnt it more logical to take it directly of the touch?

You could say that the area is not "confirmed" with a lack of a candlestick trigger, that might be true...
Hi Guys,
How are you?
Yes Storeball I agree with you if you've got strong Ppa zone like a wall and your balls are like a rock touch entry is great.Personally that enries make more confident b/c I can manage trade much better I have more options with better result.
Someone waiting for PA and you are already in that tradeanyway signal PA is great as well .All is about location secondary is PA.Can be crapy candel but in good location and those money are already in your bank.Sexi candel in wrong location can kick your ass .
Happy trading to you guys.
FX
  • #3,288
  • Dec 7, 2010 9:56am Dec 7, 2010 9:56am
well price has tried to push lower but like I said earlier that 50ema is like a brick wall to break through. Price is still holding over the 0000 level but that 0020 level is holding her back. here she comes again to test. once she breaks that I will add to my position. If the breakout is strong I will look for a retrace and enter as close to 5820 as I can.

In this pair I can really see how she responds to EO's ma's.
  • #3,289
  • Dec 7, 2010 1:04pm Dec 7, 2010 1:04pm
Quoting Kenneth Lee
This area .
Wonderful. Nice to see some actual trades here rather than just head-ups that are useful only for experienced people. Would love more such charts. Thanks.
Making money is easy- Just dont take losing trades
  • #3,290
  • Dec 7, 2010 1:11pm Dec 7, 2010 1:11pm
Quoting Fxfighter
Hi Guys,
if you've got strong Ppa zone like a wall and your balls are like a rock touch entry is great.Personally that enries make more confident b/c I can manage trade much better I have more options with better result.
Someone waiting for PA and you are already in that tradeanyway signal PA is great as well .All is about location secondary is PA.Can be crapy candel but in good location and those money are already in your bank.Sexi candel in wrong location can kick your ass .
Happy trading to you guys.
FX

Just to draw attention- Words of wisdom to be marked in gold in trading desks
Making money is easy- Just dont take losing trades
  • #3,291
  • Dec 7, 2010 2:11pm Dec 7, 2010 2:11pm
Quoting Survivor
Wonderful. Nice to see some actual trades here rather than just head-ups that are useful only for experienced people. Would love more such charts. Thanks.
Not sure where you been but post these types of charts all the time. Rarely give a heads up .. Teach you what to see yourselves,

Have a great day Ken
Good Trading To All ; Ken Lee
  • #3,292
  • Dec 7, 2010 10:44pm Dec 7, 2010 10:44pm
Got home from work a few minutes ago . and saw the gbp at a s/r daily line I have 1.5714 glanced at the hrly chart price is in the zone off a fib from the weeks low to high
glanced at the 4hr and this would be a nice higher low in that uptrend .

Not great yet but waiting , made some spread back so far

It is hard to take a long against a big red candle.

but looks like we are getting a green IB now.
Good Trading To All ; Ken Lee
  • #3,293
  • Dec 8, 2010 6:38am Dec 8, 2010 6:38am
Quoting Kenneth Lee
Got home from work a few minutes ago . and saw the gbp at a s/r daily line I have 1.5714 glanced at the hrly chart price is in the zone off a fib from the weeks low to high
glanced at the 4hr and this would be a nice higher low in that uptrend .

Not great yet but waiting , made some spread back so far

It is hard to take a long against a big red candle.

but looks like we are getting a green IB now.

I closed this with about 3 pips , low volume short bounce, oh well,,we had a retest of the previous days low at 1:15 am , But agian hard to trade tiny candles
Good Trading To All ; Ken Lee
  • #3,294
  • Dec 8, 2010 6:52am Dec 8, 2010 6:52am
GBp 15 min posssible trades this morning
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Good Trading To All ; Ken Lee
  • #3,295
  • Dec 8, 2010 6:53am Dec 8, 2010 6:53am
Or do you see this better ?
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Good Trading To All ; Ken Lee
  • #3,296
  • Dec 8, 2010 7:05am Dec 8, 2010 7:05am
a bit more info
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Good Trading To All ; Ken Lee
  • #3,297
  • Dec 8, 2010 7:28am Dec 8, 2010 7:28am
Is that shampoo forming on gu? Price is hitting that trendline and the 150 on the 4 hour also hitting the 50 on the daily Hmmm...

Gold is down $25 when gold drops $ goes up right, oil dropped $2 and basically none of the central banks are raising rates. GBP is expected to not raise rates but I think everybody knows that. Anyway things seem very bearish for GU I won't be able to trade intraday today so I think I am just going to short her now and place a stop just above yesterdays high around 5825ish I am eyeing the 5650 region but will probably take profit sooner.

Of course I could definatly be wrong and if price takes me out than there you live to trade another day.
  • #3,298
  • Dec 8, 2010 8:17am Dec 8, 2010 8:17am
well bulls are pushing hard. In a few pips my trade will be stopped and I will have to look long we will have to see if 5820 can hold the bulls back. If it hits that area hard it will probably bounce hard even if it is going to break, or it could just break if there is enough momentum which there seems to be. Its a shame I have to leave in 5 minutes I can't trade this right now
  • #3,299
  • Dec 8, 2010 9:00am Dec 8, 2010 9:00am
Iv started the task of reading through eos thread back to back. Came across this set up earlier, really nice. Im sure its been seen by most here but it was completely new to me. Now this will definitely change the way I look at trading, im also pretty sure this is the setup where Eo got most of his gains from.
Attached Image
  • #3,300
  • Dec 8, 2010 9:25am Dec 8, 2010 9:25am
Quoting Storeball
Iv started the task of reading through eos thread back to back. Came across this set up earlier, really nice. Im sure its been seen by most here but it was completely new to me. Now this will definitely change the way I look at trading, im also pretty sure this is the setup where Eo got most of his gains from.
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