Ken's Continuing Successes with EO's system

chart

Thanks for that nice detailed chart. Textbook trades always appeal to me becase i know precisely what i am looking for in these trades.

I would not normally pull a fib on a single 1 hr candle I will on a daily or 4 hr though, But this candle had moved almost 100 pips and it was due in part from the intervention to devalue the yen.

Yes and if you can watch a few different pairs and have your TEXTBOOK entry areas in mind you will find that there are enough of those to keep you very happy with little stress. It is the ones we question before we even enter that take years off our life's.

Hey Ken, awesome chart! I love the way it has the 1H PA side by side with the 15M PA. Another great thing about the #1 DBHLC/Engulfing setup was that the bear candle had broken out of consolidation to the short side, and then we get the strong bull candle that breaks out of consolidation to the long side. That's sure to shake out the weak sellers and all the traders that tried to hastily play the consolidation break short. Perfect DBLHC/Engulfing out of consolidation-- a quick/safe 20-40 pips depending upon trade management.

That is the one thought I got from that market makers video

If I was in a trade when I sat down where and what would it be and where would the stop be. Then wait after the first move to see if it is a false move trying to catch some stops or trip some shorts then a move up

this is why the 1 an 5 o'clock trades are the safest that shake out has normally happened or the short move is confirmed.

So to wait for a few candles can save us some serious grief. I really did expect that higher low to take a couple of candles to form on that first entry which could have given the fast ma's time to re-position themselves to the 1:00 placement

But the intervention had a different idea. This is why as EO says , " Trade What You See Not What You Expect" Price Action Current and In the Past (PPA) is all we need, just try and keep your random thoughts in check and look for the next point of interest.

Hope everyone has a great week ahead Ken

I also like to consider where would I TP if I was a 1H, 4H, or even daily trader-- usually you would wait for either a key level or for PA to show strong movement against you, like a momentum candle. Then you'd close your position, because you don't want to risk getting less off the move. I think when these two things line up (shorter-term traders getting stopped out, and longer-term traders taking profit) then we get some nice safe moves.

Yes very great advice , If you can keep your mind active in the market going over all the options even we were not in trades we aren't surprised when almost anything happens.

Plus after a while you will find that your getting better and better at being correct That is the time you can start to consider placing some practice PO's then when your PO's hit most times then maybe go live.

thanks nice charts..

Just a thought on A/U, daily chart attached. On these I like to find 15M supporting PA and cover at +10. That way you can keep reentering and not get frustrated if PA ranges around on you, at least you get to pick up some small pips if it doesn't break.

Here's my entry on that A/U trading idea, 4H chart attached, zoomed out to show the full 4H chart. On my charting software and I'm sure most others it gives you the option of applying daily TL's to the lower TF charts like 4H/1H, but I prefer to draw them on my own because they always end up lining up a little differently, especially the dailys. In this case it was about a 40 pip difference which doesn't matter to a daily chart trader but it matters to us. No need to rush these, when you're playing off of daily/4H they give you plenty of opportunities to reenter on the 15M/1H.

Hola guys!

Havent posted much lately but I always got an eye on the thread and theres been some great charts posted lately, hope they'll keep coming!

Here is a chart from 4h e/chf that im currently looking at, goes hand in hand with some of the other charts posted about finding key areas on your htf, then getting down and finding your preferred entry with some solid 15min pa of your choice. Im still waiting for mine, its stuck in a small channel atm.

BTW Ken, that park you posted is just breathtaking, you definitely got a piece of paradise there. Id trade the snow and ice iv got outside my front door for that anytime if your interested

Here's another trading idea that I've been using lately. When I see the last 1H candle of the day make a new high or a new low for the day, I look to enter in the opposite direction right around the open of the next candle. Obviously timing is important on these, I go by GMT candles so my last 1H candle is the candle right before the Asian open.

An EJ 1H chart is attached, I shorted E/J and G/J right at the hour turn. When they have some consolidation or good PA I will short right at the turn, if price is still trending I will wait for 15M reversal PA. Just like any other setup, if you watch the ones that work and the ones that don't, you'll eventually get a feel for them. It's just a trade setup that I noticed one day when reviewing charts, so I don't really have any good links/info on it, but I assume it works for a couple reasons: 1) Price is exhausted from the day (almost like a flat top or flat bottom daily candle), 2) Asia doesn't like to set new levels

EDIT: Forgot to mention that the colored background on the chart shows the previous day. The previous day is shaded in the blue background, and the first candle of the new day (GMT time) is the one with the red arrow over it. I will also use the same concept for the 4H at the Asian open but it's a slower developing trade and you have to wait for 1H or 15M PA before entering.

And there is pretty strong resistance.

Yeah when the last 1H candle of the day sets a new high or a new low, more often then not that level is going to be pretty strong. If you can't look at a chart and figure out why it finished at that level then it's probably one of the setups to pass on as noone else is going to be reversing it either.

Hello ken etall traders here are my trades from last day

http://my.jetscreenshot.com/demo/201...tjob-151kb.jpg

Regards

Actually, no.

But, we should try and consult them as a matter of course anyway and using your higher TF's for M15 entry is the way we trade here as a norm and the way we should always look to highlight our best entry areas.

But, if you are struggling to make it all work together, it is possible to take some entries without the higher TF's being vital to your success and here is one example.

We are in a strong move down here and when price began to retrace north, I looked for signs of whether the bounce had momentum or not and if not, where we may see sellers pile back into the pair. I drew a fib on the very clean M15 swing. Fibs work best on clean swings in trends. I noticed that the 61.8 fib level coincided with the last swing low to give us PPA, a pivot and we had a round number to place my stop behind less than 15 pips away. I wasn't interested in taking a trade at any other fib level due to the lack of additional reasons to trade it so if it took off at, say, the 38.2 level, it'd be off without me and that's fine. As it is, it made it up to 61.8 quickly and just so happened to have our M15 35/50 mas in the same area - more confluence. So I am in and covered now with about a 13 pip stop (thick black line). It isn't flying off but we got a reaction where we expect to and enough to make sure that the trade will not lose. The bounce has little momentum so I may cash in half soon and see what happens with the rest.

But, although not an epic trade as yet, the point of this is to explain how it's possible to trade like this without always having to potentially confuse yourself with H1, H4 and D1. Look at the blue, bullish bars on that retrace. Do they tell you that price is leaving this area, never to return? Big, powerful momentum bars tell you that buyers have piled in at the area where price has turned but these bars don't tell you that. We don't need H1 or H4 to tell us this, it's all there in the M15 bars. So once we can see and understand this, mark an area where you are most comfortable taking a trade and one where you are most comfortable placing a stop. If the stop is less than the distance back down to where price originally turned (i.e the current bottom) then you are good to go.

If you plan on holding your trade past that bottom, then it's definitely time to go to your higher TFs because we are now breaking new ground so you need to understand where the next support area is. But, so long as your initial target is within the range that price has very recently, there is nothing to stop it from testing that area again.

None of this is designed to take your focus away from trying to understand the relationship between higher timeframes and our M15 charts of course.

I took half profit at 1:1 whilst typing this as price stalled away….

Awesome trading man! Yeah the HTFs don't always give us entries-- on days like today where price is ranging around, it's good to have some 15M tricks up your sleeve. I took this scalp earlier based on the 15M PA circled in white, then used my 4H to show me where to exit and reverse (unfilled gap from Sunday.. if price hasn't tested these in a couple days I like to look for an entry to scalp them)

Personally I probably take more trades off the 15 min information myself , But I always have important levels pre defined as well That way I already have a idea if the trade should be a quick in and out or a try for a decent long term trade.

If you have just a 15 min up on a large monitor the detailed information you can see is as important and in many cases more important than historical PPA as it is happening now and is caused by current market conditions.

But to be the best traders we can we need to be great tacticians , Having a idea or plan for a move regarding all the information at hand.

In the beginning this may seem hard but it gets easier as you grow within your own trading , It only takes a glance at the close of the candles to see all the possibilities and a note jotted down here or there even right on your preferred trading chart is all it takes to be prepared.

Like any skilled endeavor the end results are more a product of the right preparation than just being the best at entries.

That all being said depending on what your goals are a person great at seeing possibilities on a fast chart and willing to take those gains can be as successful as anyone else. Especially when times are tough and the market ranges tightly.

That was the one thing that got my attention to the whole EO trading idea. That there were entries for almost any condition.

So don't worry about what time frame your trading just always strive to improve your profit taking and holding decent runners. It is really about what you can SEE not so much about doing it the same as everyone else. Trading is a very personal thing , So if your doing well the way you are, who cares. But never be satisfied, always keep growing this is true in all your life not just trading .

Because once we quit pushing ourselves to improve ourselves and our circumstances we start to slowly die.

Cheers Ken