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B.S. Trading with Kenneth Lee

  • #941
  • Oct 28, 2011 11:01am Oct 28, 2011 11:01am
Quoting Kenneth Lee
Thanks for keeping thread alive . Will get to the questions I can answer later this weekend. The Higher high and lower low question really comes int play at , this point after huge moves the market just seems to take a big sigh and relax a bit.

The swings can help you to see when trying to turn price is safer. I was long on oZ last night from 1.0656 demand level had to find it on the 10 min. But finally just bailed on it as it didn't move much over hours . I did scalp oz yesterday after the high for 3 good trades around 60 pips .

Look at the...
Start of London was horrible. Nice chart explaining 5 minute. I prolly should of scalped all night but saw once I went to be this morning price hit some spots and there was pips to be made...sigh. Oh well always next week. Anyway thanks for the chart Ken. Has cleared up a few concerns for me on the M5.

Everybody have a good weekend.
  • #942
  • Oct 28, 2011 11:50am Oct 28, 2011 11:50am
Quoting Kenneth Lee
less clutter ,

ps .You of course can try a short at the first failed high but you really don't know it is a failed high at that point so riskier. you can see many swings to the left that pushed right through the highs.

Thanks Kenneth for all your explanation. It has really clerify alot of issues on 5min chats.
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #943
  • Oct 28, 2011 1:48pm Oct 28, 2011 1:48pm
everyone have a great weekend , and if you want any clarification on anything now time to ask .

Cheers Ken
Good Trading To All ; Ken Lee
  • #944
  • Oct 28, 2011 5:42pm Oct 28, 2011 5:42pm
TYVM KL!!!!

It's a job to analyze all this parameters

So the trend is up when the highs are higher and the lows are higher and if we see in an uptrend an higher low but a lower high we must be cautious.

The same if wee see : in an uptrend higher high but lower low cautious
Etc ...

All your circle area on your last charts are higher lows and each one is a swing from 5m TF correct?
  • #945
  • Oct 28, 2011 10:12pm Oct 28, 2011 10:12pm
Quoting Forethan
TYVM KL!!!!

It's a job to analyze all this parameters

So the trend is up when the highs are higher and the lows are higher and if we see in an uptrend an higher low but a lower high we must be cautious.

The same if wee see : in an uptrend higher high but lower low cautious
Etc ...

All your circle area on your last charts are higher lows and each one is a swing from 5m TF correct?

So the trend is up when the highs are higher and the lows are higher and if we see in an uptrend an higher low but a lower high we must be cautious

I only look for higher lows mainly. You can have equal highs with higher lows and it will break up most of the time. That is what forms a ascending triangle.



http://www.chartpatterns.com/images/2asctr%7E1.gif
The ascending triangle is a variation of the symmetrical triangle. Ascending triangles are generally considered bullish and are most reliable when found in an uptrend. The top part of the triangle appears flat, while the bottom part of the triangle has an upward slant. In ascending triangles, the market becomes overbought and prices are turned back. Buying then re-enters the market and prices soon reach their old highs, where they are once again turned back. Buying then resurfaces, although at a higher level than before. Prices eventually break through the old highs and are propelled even higher as new buying comes in. (As in the case of the symmetrical triangle, the breakout is generally accompanied by a marked increase in volume.) (Chart examples of ascending triangle patterns using commodity charts.) (Stock charts.)
Good Trading To All ; Ken Lee
  • #946
  • Edited Oct 30, 2011 7:52am Oct 29, 2011 12:40pm | Edited Oct 30, 2011 7:52am
Quoting ejiexe
Thanks Kenneth for all your explanation. It has really clerify alot of issues on 5min chats.

It is not just for the 5 min. But after a strong move the top and possible turn shows up first on the 5 min.

The key is to all your trading analysis is that then the same principal will then play out on each time frame chart in turn.

This is no different than when we place a profit target at the first supply or demand from our entry. As that will also be the first swing high or low.

If it is with the trend just like the ascending triangle we showed then to move your stop to Break Even is the idea , That way when the break happens we are in the correct move.

If it is Counter trend then normally it is good to take the profits then if it breaks look for the retest entry.

cheers Ken
Good Trading To All ; Ken Lee
  • #947
  • Oct 30, 2011 10:18pm Oct 30, 2011 10:18pm
I missed my entry on this Friday but really liked the fact that it was almost to the highest level. Then it rejected really good. You can see my trade that got stopped on my attempt to see the trend continue to left.
Attached Image (click to enlarge)
Click to Enlarge Name: chart 95.JPG Size: 236 KB
Good Trading To All ; Ken Lee
  • #948
  • Oct 31, 2011 1:41am Oct 31, 2011 1:41am
Hello Ken, and followers !!

First of all, I'm so Grateful that my mum found your Thread, as its been the most informative Thread about Supply And Demand in my opinion.

Also thanks to Rocky, and Dean, which threads i have also read, and helped further to understand the concept behind where and how the Big Boys are playing this game.

I'm a Junior Member on FF, so not familiar with posting charts, but will try and send some with whats happened just now, and find it fascinating to see how the retail trader could have made the big move on E/Y this morning. I say Morning, as im located in Australia, and the Assian session is my morning.

Will try post charts soon.

Apple15
  • #949
  • Oct 31, 2011 2:01am Oct 31, 2011 2:01am
Its amazing to know that us retail Traders have a chance to get on trades like the ones below. Im not sure why the yen shot up, but if anything , its gives a a good feeling to know that there looking at the same trades as us ..

Just felt like sharing, and wanted to see if I'm capable to post charts on FF lol

Apple15
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: EUDJPY 2.jpg Size: 165 KB
  • #950
  • Oct 31, 2011 3:27am Oct 31, 2011 3:27am
Apple15,

Welcome to the thread & you have everything in this thread you need to become a profitable trader. There are many here willing to help & Ken is sharing some hard earned trading knowledge, that once you grasp it you are going to become a better trader. From your posted charts, you are moving along just fine. Best of trades to you in the weeks ahead.

__________________________
  • #951
  • Oct 31, 2011 7:52am Oct 31, 2011 7:52am
Can anyone see the other two re-enteries i missed while sleeping ?
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  • #952
  • Oct 31, 2011 8:43am Oct 31, 2011 8:43am
Hi
I am making use of the subdem indicator to help me identify the zones. Please check on the attached chart if the zone I marked in blue, is it a new minor supply zone?

Thanks to all for your valuable inputs and help

John from Durban
Attached Image (click to enlarge)
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  • #953
  • Oct 31, 2011 9:33am Oct 31, 2011 9:33am
Quoting jmcl
Hi
I am making use of the subdem indicator to help me identify the zones. Please check on the attached chart if the zone I marked in blue, is it a new minor supply zone?

Thanks to all for your valuable inputs and help

John from Durban
i would watch that one myself after such a big drop. My level would be from the bottom of that green body though.
Good Trading To All ; Ken Lee
  • #954
  • Oct 31, 2011 9:46am Oct 31, 2011 9:46am
Quoting Apple15
Its amazing to know that us retail Traders have a chance to get on trades like the ones below. Im not sure why the yen shot up, but if anything , its gives a a good feeling to know that there looking at the same trades as us ..

Just felt like sharing, and wanted to see if I'm capable to post charts on FF lol

Apple15

Nice analysis,, and good chart...
Good Trading To All ; Ken Lee
  • #955
  • Oct 31, 2011 10:16am Oct 31, 2011 10:16am
Quoting Kenneth Lee
i would watch that one myself after such a big drop. My level would be from the bottom of that green body though.
Thank you

John
  • #956
  • Oct 31, 2011 10:34am Oct 31, 2011 10:34am
hi !
im looking for long setups to join the trend in the aud and i marked the demand levels that i see.

on 4 hr chart i see a very clear demand level.
when i zoom into 30 min i see 2 demand levels.the first one is a swap level(am i correct),therefore i would try a long there as its a fresh swap level and the second demand(demand 2) will be my other try to go long if price fails to go higher from demand 1.

if my analysis correct does any of the two demand level is valid for PO?(my guess will be yes and it will be demand 1,the fresh swap level but im not sure).

would you guys comment on my charts?
Attached Image(s) (click to enlarge)
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  • #957
  • Oct 31, 2011 10:41am Oct 31, 2011 10:41am
This is a OZ 5 min . Not my normal trading chart but when price is side ways ?
You look to see where you can. The first two trades to the left were taken off the 3 0 min alone. As are 99% of my trades.
Attached Image (click to enlarge)
Click to Enlarge Name: chart 96.JPG Size: 268 KB
Good Trading To All ; Ken Lee
  • #958
  • Oct 31, 2011 10:43am Oct 31, 2011 10:43am
Quoting elliotrader
hi !
im looking for long setups to join the trend in the aud and i marked the demand levels that i see.

on 4 hr chart i see a very clear demand level.
when i zoom into 30 min i see 2 demand levels.the first one is a swap level(am i correct),therefore i would try a long there as its a fresh swap level and the second demand(demand 2) will be my other try to go long if price fails to go higher from demand 1.

if my analysis correct does any of the two demand level is valid for PO?(my guess will be yes and it will be demand 1,the fresh swap level...

I agree, But if I can I would zoom down to a quicker chart for a tighter PO . or if you normally trade off the 4 hr you have a appropriate risk already I am sure.
Good Trading To All ; Ken Lee
  • #959
  • Oct 31, 2011 11:07am Oct 31, 2011 11:07am
so kenneth as regards to ur 5 min aud chart is it correct for me to say that as long as on 5 min we keep having higher highs and higher lows we can play long from demand levels we spot on the 5 min but when price will fail doing so and will start forming lower highs and lower lows can i start playing shorts w the attention that price is heading lower to the demand level i posted in my earlier post?(the one shown on the 4 hr30 min)
i hope im being clear and not confusing anybody. i really want to understand if im correct.
i wanna go long with the trend once price is in my demand zone but this zone is still far away so im trying to understand if going short between the zones is ok.

thank you for any comment!
  • #960
  • Oct 31, 2011 11:23am Oct 31, 2011 11:23am
this is my 5 min aud chart.
2 q:
1-did i mark correctly the supply level by having the lower line below the lit red candle body ?OR i should have had the lower line below the green body?(2 candles to the left of the big red candle)

2-am i wrong for not considering the area marked in the ellipse as valid supply level?

so if i continue w my plan i would go short if price reaches my supply(and i have a profit margin of course)...or go long from demand on 30 min i posted earlier....

its all being very general and of course depends on price action but by having this discussion here im just trying to understand if im on the right track....
Attached Image (click to enlarge)
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