B.S. Trading with Kenneth Lee

Four hours ago I seemed to have good reasons to buy EURJPY, but was stopped by a strong down move.
Now the price is back exactly to the same level, 105.58, but this time I sell EURJPY with a very close SL.
If it is stopped again - it's a teeter-totter, not forex

Sorry for the delayed reply. Gave the cpu a rest this weekend.

On the 4h chart i posted, circled places are the ares of interest. The lines are there to show places where price has turned in the past. The circles are to show recent places price turned with significant enough drops near those lines. I'll be looking for a lower timeframe base with a lower timeframe tp in the circled areas.

If i took those same trades with a 4h base and tp then i would have lost money.

All i did there was;

1. Go to the daily and Check the trend (Reason being is to trade in the most profitable direction. I could take counter trend trades but then i'd be spitting into the wind. Chart history will show this.)

2. Go to the 4h and look for recent previous drops in the direction of the trend (Reaseon being is the best way to join a trend is on a retracement.)

3. Go to the 1h to get some detail on what happened before the areas i've found as well as maybe even making my base right there. (It's good to know if your base is fresh and what price was doing in that area. Is it a big sloppy base or is it small and tight? Is your base a bounce of a previous base? Good things to know when assesing your take profit.)

4.Go to the 30m for detail on what i saw in the 1h. (This was to make my base.)

This is generally how i take most of my trades.

another long eu 29 pips (manual exit)

Ken,

ok, I have not seen what you put in your charts anywhere else. So one key is to compare the market thrusts in the same direction. The ones that moved price the most and the strongest are the better levels?? That would explain why some levels are left alone and others are not!

Hopefully this chart will post for me. This is an example from the Euro this morning. It is a swap level that price fell from 3:1, it had a hard fall and price made a lower low. It was also fresh as it was from previous broken support. Did I do this ok? Or am I missing something?

Could somebody explain, please, how to insert pictures that are clickable for larger size?

Chart

I process screen shots in paint then post . They will then open to the size I had made them . Some use screen saving websites. they tend to be small, it takes effort to build the charts though. Cheers ken

Thanks for a prompt reply, Ken. I process my screen shots in GIMP and post. But mine are not clickable, may be because of their small size. I thought there was something special in clickable pictures.

Thank you for the quick reply Ken. I see what was wrong, I was looking at the wrong pivot for the lower lows. That must be what I need practice on.

Thank you Ken for your patience and hard work!

Anyone take this setup or have any thoughts?

I don't like how it pulled back to just above the area forming a pin and then bounced some. I do like how the edge of this range has held and there is good RR here up to that first supply level.

Thoughts on this setup and or this as a demand level?

Thanks!

My chart is different. I think price is second time drop in demand zone it's not strong demand.

Hey Stoli. see notes on daily chart below. price has already bounced from this area multiple times. demand may be consumed and sellers can take price lower

sellers have momentum in recent bars. we need fresh levels. more likely 2 win.

i included a 15M chart. it can be easier to find recent levels to short into, in the direction of current momentum. this gives you lower risk entries with trend

short audchf here based on commentary above and engulfing bar at DTL + s/r

Alright this is my first trade for today...

I am now short in the gbpusd



It has good risk to reward

Alright trade is now moving my way...I will start to manage it

Alright I have now pushed my stops down on the market...will keep on managing the investment

Opposite to you I have a loss in this place, because I thought that trend is up began.

Alright I have now moved stop down again....Keep in mind I never take profits on the trade until target gets hit or I am looking for more then 6 to1 or 9 to 1( though I am still trying to improve this because I get eager once I am up 4 to 5 percent in a trade)