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B.S. Trading with Kenneth Lee

  • #3,161
  • Mar 20, 2012 7:37am Mar 20, 2012 7:37am
Hi Bullzeye,

How are you making those entries? Are they based on the demand level not holding and so you entered as a break out in the thought that there was significant supply to overcome that demand zone so it should push prices down further? I had an entry at the demand zone and it obviously failed - did you try and long in there also? If not - why?

What has been your result trading in this way of breakout of demand and supply zones?

Thanks,
P


Quoting bullzeye
AUD/USD

Attachment
  • #3,162
  • Mar 20, 2012 8:51am Mar 20, 2012 8:51am
Quoting bullzeye
EUR/AUD

looks like a breakout

Attachment
hit my target for 60Pips

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  • #3,163
  • Mar 20, 2012 9:13am Mar 20, 2012 9:13am
Quoting Pirabuji
Hi Bullzeye,

How are you making those entries? Are they based on the demand level not holding and so you entered as a break out in the thought that there was significant supply to overcome that demand zone so it should push prices down further? I had an entry at the demand zone and it obviously failed - did you try and long in there also? If not - why?

What has been your result trading in this way of breakout of demand and supply zones?

Thanks,
P
well, everything is based on supply/demand. I change my trading style significantly : only higher TF and only with the trend. And the main thing is i wait every-time for confirmation. I don't work with PO`s anymore, it`s safer trading for me, i don't care if i missed a few pips.

So i wait if an area will hold or break. PA reading combine with supply/demand is a fantastic thing...but you know it already
  • #3,164
  • Mar 20, 2012 9:17am Mar 20, 2012 9:17am
Quoting Luca444
I guess that to be successful you just have to be good at predicting where the price is going.
reaction, not prediction
  • #3,165
  • Mar 20, 2012 10:08am Mar 20, 2012 10:08am
Quoting bullzeye
well, everything is based on supply/demand. I change my trading style significantly : only higher TF and only with the trend. And the main thing is i wait every-time for confirmation. I don't work with PO`s anymore, it`s safer trading for me, i don't care if i missed a few pips.

So i wait if an area will hold or break. PA reading combine with supply/demand is a fantastic thing...but you know it already
Hi Bullzeye,

Quick question.. only with the trend... Are you using the daily, or some other time frame or method to give you an acuurate read. I know that Sam says the daily

Thanks

TSD
  • #3,166
  • Mar 20, 2012 11:25am Mar 20, 2012 11:25am
Following on from TraderinSD's question do you look at the current swing being formed to judge trend e.g. new higher high / lower lows or do you look at the overall picture?

Thanks,


Quoting TraderinSD
Hi Bullzeye,

Quick question.. only with the trend... Are you using the daily, or some other time frame or method to give you an acuurate read. I know that Sam says the daily

Thanks

TSD
  • #3,167
  • Edited 12:52pm Mar 20, 2012 12:42pm | Edited 12:52pm
hey guys im wondering if the lower 2 circles are fresh zones as if you look at price before it rallied up. or would the top zone only be considered a zone as there was no zone or point of imbalance before
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  • #3,168
  • Mar 20, 2012 9:14pm Mar 20, 2012 9:14pm
Quoting bullzeye
AUD/USD

Attachment
This worked out for me very well risk 50 pips reward 160 pips
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  • #3,169
  • Edited 9:30pm Mar 20, 2012 9:16pm | Edited 9:30pm
Quoting bullzeye
EUR/AUD

looks like a breakout

Attachment
Looked like it worked out It was going for better supply zone just above it (Sneaky DBD, almost missed it!).

Now you might want to consider changing sides

risk 60 pips reward 170 pips

EDIT: Having second thoughts now... because of the 1.2770 level
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  • #3,170
  • Mar 20, 2012 9:28pm Mar 20, 2012 9:28pm
Quoting the-game
Looked like it worked out It was going for better supply zone just above it (Sneaky DBD, almost missed it!).

Now you might want to consider changing sides

risk 60 pips reward 170 pips
keep an eye on that one since that is the second test of that zone, i might look to move the stop up a little sooner than if it was the first time back to that area
  • #3,171
  • Mar 20, 2012 9:28pm Mar 20, 2012 9:28pm
One candle does not equal a zone.
  • #3,172
  • Mar 20, 2012 9:32pm Mar 20, 2012 9:32pm
What would you guys consider supply zones on EURAUD at the moment?

I edited my post while you guys posted

TIA!
  • #3,173
  • Mar 20, 2012 9:37pm Mar 20, 2012 9:37pm
Quoting low_key321
One candle does not equal a zone.
Not always true, if price is returning to a previous area of heavy supply it will sometimes be a 1 candle pivot back down away from that zone. So while I would not call 1 candle the beginning of a zone it can signal that there is still a lot of supply left in a previous area.

On the chart he posted price fell at the end of December creating a supply level on the chart, then price returned to that level around the 24th of Feb only to be turned away again.
  • #3,174
  • Mar 20, 2012 9:42pm Mar 20, 2012 9:42pm
Quoting the-game
What would you guys consider supply zones on EURAUD at the moment?

I edited my post while you guys posted

TIA!
I think you where looking at a good area, but since it is the second time back I wouldnt want to see the price linger there very long, like it looks like it might be doing. I would mark the area on my chart and look for price action to confirm a move back down.
  • #3,175
  • Mar 20, 2012 9:43pm Mar 20, 2012 9:43pm
Quoting grooler
Not always true, if price is returning to a previous area of heavy supply it will sometimes be a 1 candle pivot back down away from that zone. So while I would not call 1 candle the beginning of a zone it can signal that there is still a lot of supply left in a previous area.

On the chart he posted price fell at the end of December creating a supply level on the chart, then price returned to that level around the 24th of Feb only to be turned away again.
Correct, in other words, Drop Base Drop, only on the larger TF like I posted.

It may look totally different on smaller TF.

Either way, I'm now very wary of the following EURAUD levels:

1.3000
1.2825
1.2770
  • #3,176
  • Mar 20, 2012 9:47pm Mar 20, 2012 9:47pm
Quoting grooler
I think you where looking at a good area, but since it is the second time back I wouldnt want to see the price linger there very long, like it looks like it might be doing. I would mark the area on my chart and look for price action to confirm a move back down.
Thanks grooler, my thoughts (now) exactly.

Oh well, I'm sticking to my plan as for now as I've calculated my lot size based on how much I wanted to risk in the first place... I can make it up another time if it doesn't work out.

I mean there are those nicer levels I mentioned above that I will certainly confirm before diving in next time.
  • #3,177
  • Mar 20, 2012 9:48pm Mar 20, 2012 9:48pm
Forgot to mention, that the main reason I took my current EURAUD trade is because on the Daily, I saw that big gap down.
  • #3,178
  • Mar 20, 2012 9:50pm Mar 20, 2012 9:50pm
This area has been broken, looks like the strongest supply out of the areas you listed is around the 1.300
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  • #3,179
  • Edited 10:46pm Mar 20, 2012 10:00pm | Edited 10:46pm
Quoting grooler
This area has been broken, looks like the strongest supply out of the areas you listed is around the 1.300
I know that area has been broken... i was looking at the area just above (1.2630 - 1.2690)

EDIT: I've admitted defeat... sort of... with a +1 pip gain LOL

Will be looking at the better supply zones from now on... what a waste of time that was.
  • #3,180
  • Mar 21, 2012 4:13am Mar 21, 2012 4:13am
AUD USD scalp. Daily price action down, price rallied out of 4 hour demand into 4 hour swap level (now supply). Took lower time frame set up in the 4 hour swap zone.

+10 pips for 1% gain
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