B.S. Trading with Kenneth Lee

Sam Seiden's general view on that is that yes, if the reaction is small and does not move away sharply from the test, the repeat test is one to very cautious about.

However, if price moves away a good way and quickly again, you can then treat that as a fresh level all over again.

this setup looks promising to me: EUR/AUD...the H4 demand falls in to the Daily demand level

Did anyone take the nzdjpy h4 entry?.

Again sweet entry. We had two occasions today to enter on h4 using a smaller TF(5m), other was eurgbp.

the entry was again done on a pull back inside a H4 demand level. This provides a nice confirmation.

1. Entry on a pull back
2. Inside or just near the higher TF S/D levels.

Attached charts.

the way your levels are shown are very much similar to the ones drawn by the supdem indicator.

Good trade on CADJPY, was moving very slowly since yesterday.

Closed with 33 pips.

Not many trades today, London has just started ..lets see

Anyone else on this trade?

Trotty,

Thanks for the confirmation. Your views are most respected by this trader. I need to read more of Sam's info. Have a great weekend.

_____________________________

If you don't have the time to trade prime trading times just use the same rules during off times requires a bit of patience, But you can plan it get in and leave it ,

zamfir

thats my view for NZD/USD

It finally happened..........Missed my entry on a pending order by .01 pips...unfreaking believable...

Now I have this bugger as an open order for Sunday. I guess we will see how it fares.

For those still questioning the effectiveness of supply and demand,.....It works even with pending orders...

I have attached my 15m chart to show where I set my zone

Have a great weekend all.

Rufus

Hey Rufus!

LOL same setup here and also missed my entry by few pips...i delete my PO

Hi Ken, how r u doing?
I've been researching the validity of supply and demand and here I found a good stuff to research. The most important thing is we must go with the trend, but the question is how to know where the trend direction? up? or down?
I've research this simple moving average, I knew it from many source. the use of sma is to know where the market will move in term of Daily, Weekly, and Monthly.
for me as a scalper and Day trader I use Daily SMA to know the major DAILY TREND
I assume that if price trade above the sma it means we better look only demand zone to trade, and if price trade below sma it better we look for only suppy zone to short. and if price has made a far/wide range from that sma usually it will turn back to sma after finding a supp/demand zone...
let's see how I set and count the value of sma.

 

1. 1 day consisted 24 hours, so if we use H1 TF, we set that sma to sma 24. that means we set the sma to now the DAILY TREND
2. If we trade on m30, so we set sma to sma 48 (30 mins is the half of 1 hour (60 mins))
3. and so on..

here what I will researching, I place a picture of EU at m15 TF so I set my sma value to 96 ((60 mins/15) x 24)...

http://i1117.photobucket.com/albums/...an/EUm15-1.jpg

see I found a lot of valid zones thorugh that sma??
and the last zone, if there is no gap, or upnormal market movement, I'll coonsider to take long there.
hope this will help, but everything is possible with the market, it just a tips to knowing where the major trend move. and remember indicator just helper tools, but the the best indicator is still price.
so keep well all happy weekend

Interesting,does this work all the time?

I have a 50 ema on my charts that people see it is there because it was mentioned in Sam's Videos and that is where most of this information came from. I personally never really look at it it is just there.

A trend is a funny thing as it will change at every adjustment of the time on your chart. I use swings to gauge trend. I have shown this many times.
. I don't want a additional indicator and really not to have to add a different MA for each time frame. It is just very simple for me to scroll through my charts and see the levels.

You can be at a area where a long or a short maybe a possibility. if price is hoovering in a tight range. in those cases i just move up a time frame and look for clarity. But if you have a favorite time frame you trade off then that IS the trend you will be watching.

That being said not knowing your moving into a very opposing force on a longer time frame chart is not acceptable. This is why once you pick a trade even if you have already chosen and placed a PO , Take the seconds it takes to scroll both up and down your time frames to see if anything is in the way.

Take the time during off trading to pull up one of Sam's videos and hit prnt scrn and paste to paint or your picture viewer and look at all the different times on his charts on that screen at one time, This is how he can see a entry on a 2 min as well as the fact that is in alignment with any longer time frames as well.

But just because we are near a daily or even weekly level doesn't mean you can't take the faster charts trades INTO that level before it comes into play and turns price back.

I have said in the past I have settled on a 30 Min chart do to the clarity of levels as well as the over all information in provides . I trust swings to provide my trend information. Price action is a term people love to throw around but few ever really try and see it or understand it. It maybe a vision of a personal nature. I try and tell people what I see and look for but know from past experience that many don't or can't see or understand what I do. It may be I am flawed in my view but in my mind it is clear.

A easy to see trend is where is price predominantly on your screen. if it is in the lower half of your screen look for a short, if it is in the top half a long, pretty simple.

I understand the need for confirmation in our choices but our focus should be in picking great levels that is the task. Not adding more parts to the equation. If you start looking for a indicator that helps to give you confluence you will find many. Because any good entry will fit into many trading ideas as they are all looking for good entries.

The only focus of this thread is to keep trading as simple as possible with little or no outside influence. it just isn't needed. The more we start to add and need to align the less sure of ourselves we will become. As it goes from being our choice to being a bunch of indicators choice.

Just my two cents. Ken

Here is a chart showing what i look for in a trend search.

I didn't put a time frame or pair on the chart because it doesn't matter. The information is the same on any chart. So that means the trend could be different on any chart. But if you trade off a 5 min you care about the trend on the 5 min . Same if you trade a daily.

This is what we are trying to learn here a simple set of ideas that you follow on each and every time frame chart that do not vary as that is just another option to trip you up.

Say you do start using multiple MA's on different time charts then you forget to change the ma for a given time, so you pass on a trade or jump into a bad one.

Try and keep your trading simple. That is the key to trading Joy. if not it will be a very stressful endeavor.

Hope everyone is having a great weekend. Ken

Picking "good looking" levels whether or not with the trend seems to be key. If I stare at the charts long enough and flip through time frames I can eventually find alot of levels. the problem is they are not usually good. Now I focus on the 30 min chart as taught by Ken. If I see a very good level I look at that level on the a 15 min or even 5 min chart to refine entry.

I take all the "good levels" whether with the trend or not. Also taking swaps has been quite profitable. Yesterday audusd swapped and I bagged 50 pips.

As with all methods money manangement is the key. Getting out of a trade early enough is key. In the past I would lose because I would refuse to accept that the level wasn't working out. Now I have very strict rules for getting out. Everyone needs these rules. These rule however are personal. So far I am not using POs because I am learning how price reacts once it gets to the level. I like watching on 5 min chart. This is very good way to learn price action.

I don't trade off fast charts myself But it is fun to watch even a 1 min at your entry as you can almost see the trading of money from hand to hand

Plus watch as your entry takes off good or the struggle of a possible failure.

@ Kenneth Lee : thank's for the explaination. I'll keep trade in very simple way. I got your point to look trenad in simple way...

Scalp EU early morning asia time. any tf any pair
and sorry dont mind to "show off"... just a newbie trade

Thanks for that explantion to sindu above. helped me too
thanks kenneth, i woudllike to keep up and i see a different PA trading style and i would surly love to observe yours

one question if i may,

how would u trade stacked levels? for example u are short and u see stacked demand, would you target the lowest one or the nearest one? or does PA tell you then?

thanx