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B.S. Trading with Kenneth Lee

  • #621
  • Oct 19, 2011 5:32am Oct 19, 2011 5:32am
Hi Ken - Looking at the Aussie dollar on the chart you just posted, we have had two touches and short trades off the 1.0340 level (M30 chart). Would you now be looking for it to turn into a swap level for a possible long trade, or is that reading too much into it at this stage of the price action?

PB


Quoting Kenneth Lee
nice very clear swap level as well, Thta is how you would get that first entry right sfter the swap the breakout entry
  • #622
  • Oct 19, 2011 5:41am Oct 19, 2011 5:41am
Quoting pixelboy
Hi Ken - Looking at the Aussie dollar on the chart you just posted, we have had two touches and short trades off the 1.0340 level (M30 chart). Would you now be looking for it to turn into a swap level for a possible long trade, or is that reading too much into it at this stage of the price action?

PB
would have to close above 1.0375 first , very wide level , Not liking it that wide. I don't count that one down at 1.0320 to far away. But looking for a deeper retrace to 1.0300 first. will see what happens. never a rush you pick them and just wait .
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Good Trading To All ; Ken Lee
  • #623
  • Oct 19, 2011 5:49am Oct 19, 2011 5:49am
plus we are back close to that supply level off the 4 hr chart .
Good Trading To All ; Ken Lee
  • #624
  • Oct 19, 2011 5:50am Oct 19, 2011 5:50am
Thanks Ken - really appreciate your thoughts on these charts.

PB

Quoting Kenneth Lee
would have to close above 1.0375 first , very wide level , Not liking it that wide. I don't count that one down at 1.0320 to far away. But looking for a deeper retrace to 1.0300 first. will see what happens. never a rush you pick them and just wait .
  • #625
  • Oct 19, 2011 5:59am Oct 19, 2011 5:59am
Look for great setups on all your pairs take the ones that have the best return .
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Good Trading To All ; Ken Lee
  • #626
  • Oct 19, 2011 6:34am Oct 19, 2011 6:34am
Quoting Kenneth Lee
Look for great setups on all your pairs take the ones that have the best return .
i have gone short from your target level Ken, have you done the same#?
  • #627
  • Oct 19, 2011 6:54am Oct 19, 2011 6:54am
Support / Resistance verse Supply / Demand
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Good Trading To All ; Ken Lee
  • #628
  • Oct 19, 2011 6:57am Oct 19, 2011 6:57am
Quoting deankenny21
i have gone short from your target level Ken, have you done the same#?
Nope done for right now , been up all night just posting a few charts to keep thread going .
Good Trading To All ; Ken Lee
  • #629
  • Oct 19, 2011 7:07am Oct 19, 2011 7:07am
chart
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Good Trading To All ; Ken Lee
  • #630
  • Oct 19, 2011 7:15am Oct 19, 2011 7:15am
Home work you should be doing.
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Good Trading To All ; Ken Lee
  • #631
  • Oct 19, 2011 7:20am Oct 19, 2011 7:20am
easy peasey ..
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Good Trading To All ; Ken Lee
  • #632
  • Oct 19, 2011 7:28am Oct 19, 2011 7:28am
Keep up the good work guys....amazing thread!!!!! Simple and right to the point.

However, I do have a query - how do you guys handle the news be it - AUD, EUR, GBP etc
  • #633
  • Oct 19, 2011 7:36am Oct 19, 2011 7:36am
Quoting Kenneth Lee
easy peasey ..
Hi Ken,

How do you determine the target for that trade ?

1)do you wait for it to hit the next major imbalance zone on the 30 min time frame
2) or take a part off at an 'obvious' zone. Say a zone of supply in this case
3) or do you collect some fixed amount like 30 pips and leave the rest to run from break - even
  • #634
  • Oct 19, 2011 8:03am Oct 19, 2011 8:03am
Yes and now EJ hit a supply zone do you think short is good now?
  • #635
  • Oct 19, 2011 8:21am Oct 19, 2011 8:21am
Quoting Forethan
Yes and now EJ hit a supply zone do you think short is good now?

Bit late now.
Good Trading To All ; Ken Lee
  • #636
  • Oct 19, 2011 8:55am Oct 19, 2011 8:55am
Thanks for all those charts on swap levels Ken. The light just flicked on for me regarding how to trade those levels.
  • #637
  • Oct 19, 2011 9:09am Oct 19, 2011 9:09am
hy Kenneth as another supply and demand trader, i dont usually look for these swap zones, but i saw on on eurgbp, 30 didnt show so i zoomed to 15 min and saw the swap beautifully but price blasted stragiht through it any suggestions.
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  • #638
  • Oct 19, 2011 9:09am Oct 19, 2011 9:09am
Quoting ssk1284u
Hi Ken,

How do you determine the target for that trade ?

1)do you wait for it to hit the next major imbalance zone on the 30 min time frame
2) or take a part off at an 'obvious' zone. Say a zone of supply in this case
3) or do you collect some fixed amount like 30 pips and leave the rest to run from break - even

Targets are always the next level , so going long off demand your looking for the nearest supply level. You cna move your stop to break even at the first level or close all or take some off. to each their own I guess.

On the gbp that was the first supply level from that demand.

as for news if I m not in a trade i will stay out until after , You can get some good entries after the news though quickly as news can move your price right to one of your levels and get you in at a nice level. Same as always have PO's set on your best levels.
Good Trading To All ; Ken Lee
  • #639
  • Oct 19, 2011 9:16am Oct 19, 2011 9:16am
Quoting deankenny21
hy Kenneth as another supply and demand trader, i dont usually look for these swap zones, but i saw on on eurgbp, 30 didnt show so i zoomed to 15 min and saw the swap beautifully but price blasted stragiht through it any suggestions.
Can see it on the 30 min as well but just a big wick on the second green candle. I don't see it as being a uptrend so i would have stayed out of that one .

Lower high overall then just broke through that low at .8740those two levels are pretty close as well. But don't feel good about .8717 either.

Eur/gbp is tough lately with all the news.
Good Trading To All ; Ken Lee
  • #640
  • Oct 19, 2011 9:19am Oct 19, 2011 9:19am
Quoting Winston Reed
Thanks for all those charts on swap levels Ken. The light just flicked on for me regarding how to trade those levels.

Yes not that hard , just remember to mark the level after the break so you can SEE the best entry. Don't just think the line is the same as it does shift a bit a little and we want the tightest entries with the lowest risk.
Good Trading To All ; Ken Lee
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