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B.S. Trading with Kenneth Lee

  • #381
  • Oct 11, 2011 11:21pm Oct 11, 2011 11:21pm
Hi Ken,

Just a quick note to thank you for your thread. I am learning alot from it and appreciate both the pdf you put together and the subsequent posts.

Regards
  • #382
  • Oct 11, 2011 11:24pm Oct 11, 2011 11:24pm
Quoting Kenneth Lee
1.5586 for more down side

1.5540 or 1.5529 for possible longs

30 min
The long area is what concerns me. I will do as you say to CT and watch it turn. Might just pass on longs and hit the short since it is downtrend and go from there until some of this crap is cleared.
  • #383
  • Oct 11, 2011 11:28pm Oct 11, 2011 11:28pm
gbp chart
Attached Image (click to enlarge)
Click to Enlarge Name: chart 41.JPG Size: 191 KB
Good Trading To All ; Ken Lee
  • #384
  • Oct 12, 2011 12:43am Oct 12, 2011 12:43am
Yeah in that GBP short right now. Hopefully turn soon
  • #385
  • Oct 12, 2011 12:55am Oct 12, 2011 12:55am
Quoting Kenneth Lee
[b][color=Blue]
Supply zone 1 - I like this one as price didn't hang around very long and very quick exit from zone. Would you say this is a aaa trade setup?

Yes with the amount of time it has already spent away it should be very nice. The only thing is that price did try and retest i but turned a good deal below it.

Supply Zone 2 - would you count this as a supply zone as price did hang around for about 9 candles before dropping. Do you prefer a quick turn around?

[color=Black]The base is pretty Big lots of candles,...
Wow what a great detailed reply, you've dealt with all my queries very clearly, many thanks Ken for your time and patience.

You are a true gentleman. If you don't mind I will post a few of my setups as I see them, your comments would be appreciated.

Thanks again you are awesome.
Feel the Fear and do it anyway!!!
  • #386
  • Oct 12, 2011 1:50am Oct 12, 2011 1:50am
Got out the cable with 2 pips. Was up 10 at one point and down 14. Don't like the way its acting.It reminds me of one of those trading sessions where its wicks everywhere. Rather take my ball and go home.
  • #387
  • Oct 12, 2011 1:52am Oct 12, 2011 1:52am
Hi all,

Just wanted to post a chart of the trade I had placed at this demand level on GU.

My entry was 1.5544 and my exit was 1.5594.

Position is closed out now for profit.

Ken in your opinion, are any of the levels above this price up to 1.5680, really any good to take?

I would have thought none of them would be of high probibilty setups, as ther is two much chop providing little profit targets, even though it would be with the trend?

Attached Image (click to enlarge)
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  • #388
  • Oct 12, 2011 1:56am Oct 12, 2011 1:56am
Can i ask if this chart would be a far high prob supply zone for the next short?

Or would it be better to be looking at the hammer before the gap??

Let me know if I havent explained my self properley.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD_1210_SUPPLYZONE.GIF Size: 112 KB
  • #389
  • Oct 12, 2011 2:08am Oct 12, 2011 2:08am
Please let me know if I am posting to much or confusing the thread Ken.

Just my zone on EU.

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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  • #390
  • Oct 12, 2011 2:11am Oct 12, 2011 2:11am
Quoting xxxxLearner
Hi all,

Just wanted to post a chart of the trade I had placed at this demand level on GU.

My entry was 1.5544 and my exit was 1.5594.

Position is closed out now for profit.

Ken in your opinion, are any of the levels above this price up to 1.5680, really any good to take?

I would have thought none of them would be of high probibilty setups, as ther is two much chop providing little profit targets, even though it would be with the trend?

Attachment
Sweet trade bro. Congrats.
  • #391
  • Oct 12, 2011 2:35am Oct 12, 2011 2:35am
charts as I see them currently, no commentary added, remember we only take fresh touches so some of the levels are just for visual aid.
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  • #392
  • Oct 12, 2011 2:43am Oct 12, 2011 2:43am
Thanks FX, that has made alot of sense to me, I can see sometimes i pick levels that are to far out of the price action.
  • #393
  • Edited 5:17am Oct 12, 2011 4:42am | Edited 5:17am
Lot of new highs forming, looking for retracements off these levels to demand.

Slower week than last week regarding setups for me.

Patience pays, let's see how all of this pans out over the next couple of days.
  • #394
  • Oct 12, 2011 5:24am Oct 12, 2011 5:24am
Some new demand levels I am watching, they are not at the start of a new leg as I usually want them to be but price rocketed off these levels with adequate momentum for me to mark them.
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  • #395
  • Oct 12, 2011 5:29am Oct 12, 2011 5:29am
Good stuff FX. I got the same ones so hopefully we get something.
  • #396
  • Oct 12, 2011 9:16am Oct 12, 2011 9:16am
Would you all consider this a supply zone on this 4 hour eurusd chart?
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  • #397
  • Oct 12, 2011 9:35am Oct 12, 2011 9:35am
Quoting Winston Reed
Would you all consider this a supply zone on this 4 hour eurusd chart?
It could be I would prefer to zoom into at least a hrly if possible then scroll back to that level . Within the rules of the system, That green candle to the left of the top of the white one should have the lower line hugging it's open price which makes the level way to wide for me to trade.

When that happens to me I then have to watch current price action on the right , to look for a new entry level to appear. Which depending on your preferred time frame charts could be tomorrow.


Cheers Ken
Good Trading To All ; Ken Lee
  • #398
  • Oct 12, 2011 9:38am Oct 12, 2011 9:38am
Here is a OZ update on the PO's that were set on Monday afternoon. 3 have played out well and none had to get stopped. So a lesson to keep, moving forward.
Attached Image (click to enlarge)
Click to Enlarge Name: chart 42.JPG Size: 280 KB
Good Trading To All ; Ken Lee
  • #399
  • Oct 12, 2011 9:41am Oct 12, 2011 9:41am
Quoting xxxxLearner
Can i ask if this chart would be a far high prob supply zone for the next short?

Or would it be better to be looking at the hammer before the gap??

Let me know if I havent explained my self properley.

Attachment
the htree highs there would be considered comong off that supply a po I would not set. But If I were present I might short it from closer to me stop ( Less risk)
Good Trading To All ; Ken Lee
  • #400
  • Oct 12, 2011 9:42am Oct 12, 2011 9:42am
Quoting xxxxLearner
Please let me know if I am posting to much or confusing the thread Ken.

Just my zone on EU.

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No post away , Just I am not always present so may not get a response quick enough , But others will answer as well..
Good Trading To All ; Ken Lee
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