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B.S. Trading with Kenneth Lee

  • #1,961
  • Jan 8, 2012 6:25am Jan 8, 2012 6:25am
Quoting TraderinSD
I understand what you mean. Very good points. I would agree that trading with the trend would seem to up the odds in your favor but again, this is not a trend trading method to be sure...

Interesting quandary. Maybe KL can shed some light in this area.

Thanks for your input AceTrader

TSD
All I can say is when counter trend trading . Take profits quick. WE look for entries to a strong trend off shallow pullback levels. So that should also lead the way on tp'ng on CT trades.

It is harder for longer term traders to CT trade or even PO trades but in reality PO trading should almost 100% be with the trend. Because monitoring CT trades is a must.

Just my 2 cents. Ken
Good Trading To All ; Ken Lee
  • #1,962
  • Jan 8, 2012 6:38am Jan 8, 2012 6:38am
Ken,

That is absolutely correct........the few that I have gained pips on was simply because I took them quickly & got out. The other were losers.
  • #1,963
  • Jan 8, 2012 7:23am Jan 8, 2012 7:23am
Quoting acetrader
Since I began learning to trade S&D Zones I have been marking the zones myself & that is working find, but just started pondering if anyone is using an indicator of some type to auto plot these zones. At this time I am free of indicators, but this type of indicator is just not the same as what I call a standard indicator such as RSI, MACD, Stoch or any of the others. I do not want to start clogging this thread with indicators, but just looking for views & suggesstions.

Thanks for any replys.

____________________________
Hi acetrader,

I am using the attached indicator, I find it useful to spot zones that go a long way back in the chart history.

Please be careful anyone using this indicator. It cannot be relied upon as it will sometimes miss important zones and also highlight zones that are no good, so analysis of the zones is a must!
Attached File(s)
File Type: ex4 i-supply-demand-zones - Copy.ex4   13 KB | 893 downloads
  • #1,964
  • Jan 8, 2012 9:36am Jan 8, 2012 9:36am
Hello, I've just discovered this thread, thanks for all the information you share!

Now I want to try out this method.
Here is a 1 hour chart of EUR/USD. I've found 3 supply level. Are they correct?

Thanks for your help :-)
Attached Image (click to enlarge)
Click to Enlarge Name: photo.jpg Size: 129 KB
  • #1,965
  • Jan 8, 2012 12:26pm Jan 8, 2012 12:26pm
Hello Kenneth, hello fellow traders,

I just wanted to chime in and say Hello. My name is Hans and like Kenneth I've been trading for about three years. After wasting some time with mostly indicator based systems I stumbled upon the James16 thread. For the first time I had some success with trading and decided to dig even further into price action to truly understand what these red and green bars are all about. A year ago I found Sam Seiden's stuff and have been studying it ever since. Sam's view on what's happening on the charts is the most accurate I have seen in my short but time-consuming trading career. And I'm very delighted that there is a thread here at FF dedicated to this topic. Thanks to you, Kenneth, for starting it out and providing such great information. I hope I can add something to it and learn from you guys.

Regards,
Hans
Thanks J16, Sam Seiden, Udine and Jacko
  • #1,966
  • Jan 8, 2012 7:23pm Jan 8, 2012 7:23pm
Ultimatus,

Thank you for sharing the indicator. I will give it a go this week.
  • #1,967
  • Jan 9, 2012 1:14am Jan 9, 2012 1:14am
Has anyone gone long the daily EUR/USD??

just curious if anyone went into that nice looking Demand Set up

Apple
  • #1,968
  • Jan 9, 2012 1:40am Jan 9, 2012 1:40am
Quoting Apple15
Has anyone gone long the daily EUR/USD??

just curious if anyone went into that nice looking Demand Set up

Apple
I got up too late and missed it. It's not only into a nice weekly demand but also has what Sam calls a novice gap (see charts).
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 120109_eurusd_01.gif Size: 17 KB
Click to Enlarge Name: 120109_eurusd_02.gif Size: 12 KB
Click to Enlarge Name: 120109_eurusd_03.gif Size: 14 KB
Thanks J16, Sam Seiden, Udine and Jacko
  • #1,969
  • Jan 9, 2012 1:50am Jan 9, 2012 1:50am
LOL, I just found the 15 min EURUSD looks like one of Sam Seiden's charts in one of his free articles:
Attached Image (click to enlarge)
Click to Enlarge Name: 120109_eurusd_04.gif Size: 18 KB
Attached Image
Thanks J16, Sam Seiden, Udine and Jacko
  • #1,970
  • Jan 9, 2012 2:01am Jan 9, 2012 2:01am
Quoting HanSolo
I got up too late and missed it. It's not only into a nice weekly demand but also has what Sam calls a novice gap (see charts).
Also, if you go all the way back to the origin of the move on 10th September, there is a weekend gap there too.

I had the level marked in, but didn't take it
  • #1,971
  • Jan 9, 2012 2:46am Jan 9, 2012 2:46am
GBP/JPY H4 moved my SL to BE

Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 21 KB
  • #1,972
  • Jan 9, 2012 2:49am Jan 9, 2012 2:49am
Quoting Apple15
Has anyone gone long the daily EUR/USD??

just curious if anyone went into that nice looking Demand Set up

Apple
yeah, i got in this beautiful Demand Zone, but by far too late

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 17 KB
  • #1,973
  • Jan 9, 2012 3:01am Jan 9, 2012 3:01am
Very new to this but would like comments on this chart please. I am looking to short the EU based on price arriving at a SD area.
Does this look good to everyone??
Thanks in advance.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 12 KB
  • #1,974
  • Jan 9, 2012 3:27am Jan 9, 2012 3:27am
bullzeye,

Stand by & you should get another chance when another supply zone developes as this pair is most likely going to resume the down trend.
Just my views, but we will soon see.

________________________
  • #1,975
  • Jan 9, 2012 3:42am Jan 9, 2012 3:42am
Quoting Ultimatus
Also, if you go all the way back to the origin of the move on 10th September, there is a weekend gap there too.
Hi Ultimatus, thanks for pointing that out. You must have another feed. I can't see it on my charts.

Quoting Ultimatus
I had the level marked in, but didn't take it
Spotting the right levels is a great achievement in and of itself.
Thanks J16, Sam Seiden, Udine and Jacko
  • #1,976
  • Jan 9, 2012 4:37am Jan 9, 2012 4:37am
Quoting bez3000
Very new to this but would like comments on this chart please. I am looking to short the EU based on price arriving at a SD area.
Does this look good to everyone??
Thanks in advance.
Hi bez, I personally am hesitant to trade a supply level this near while we're into weekly demand. So I rather stay on the sideline. That said it might still work out and give us some pips to the downside.
Thanks J16, Sam Seiden, Udine and Jacko
  • #1,977
  • Jan 9, 2012 4:50am Jan 9, 2012 4:50am
Hello Kenneth, Hello fellow traders.I'm waiting with sell PO at this level (1.2791 stop 1.2811). It is a valid SUPPLY zone ?
I'm curious if anyone went into that Supply setup.

Tks,
naked


edit : ok, i think have missed the trade for bad supply level design.... :-)
Attached Image (click to enlarge)
Click to Enlarge Name: eur_usd2.gif Size: 14 KB
  • #1,978
  • Jan 9, 2012 4:54am Jan 9, 2012 4:54am
Quoting acetrader
bullzeye,

Stand by & you should get another chance when another supply zone developes as this pair is most likely going to resume the down trend.
Just my views, but we will soon see.

________________________
thanks acetrader

but i take my profits here, the H4 Chart shows a nice supply area, so i will see how it will react here

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 15 KB
  • #1,979
  • Jan 9, 2012 5:05am Jan 9, 2012 5:05am
Hi guys,

Gotta a question.. on EU we had a nice demand level on the daily, but then looking on the 30mins we have an excellent supply level, what would you do in this scenario ??

a) You would pass on the trade as you're taking a supply level very near a demand one on higher tfs ?

b) You would give more importance to the higher tfs (daily demand) and start looking for demand levels

c) You would get on short based on the 30mins chart attached as the trend is down and price went quite deep on the demand level on the daily tf ?

d) Any other answer.

Thanks !!
Attached Image (click to enlarge)
Click to Enlarge Name: eu30minsvrsdaily.jpg Size: 56 KB
Trade Smart
  • #1,980
  • Jan 9, 2012 5:07am Jan 9, 2012 5:07am
E/U too late again ... i need a coffee, i am too slow today

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 16 KB
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