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B.S. Trading with Kenneth Lee

  • #3,221
  • Mar 25, 2012 11:18am Mar 25, 2012 11:18am
I'm a long time reader of this thread, and this week I'm going to try this method. Thanks for all the great information available here!

This is my buy limit order in EUR/USD, 30min TF. Any thought?

And a small question: do you use trailing stops when trading with supply/demand zones?
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  • #3,222
  • Mar 25, 2012 1:00pm Mar 25, 2012 1:00pm
Will be watching this will see how it opens and develops
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  • #3,223
  • Mar 25, 2012 7:42pm Mar 25, 2012 7:42pm
I'm itching to sell the eur.usd on the 30 minute chart. what do you think? sell now and take a 50 pip tp and 50 pip sl? it's at 1.3272 right now.
  • #3,224
  • Mar 25, 2012 7:46pm Mar 25, 2012 7:46pm
Quoting chiba_san
I'm itching to sell the eur.usd on the 30 minute chart. what do you think? sell now and take a 50 pip tp and 50 pip sl? it's at 1.3272 right now.
Are you seeing something I'm not? In context of this thread, it doesn't appear to be within a supply zone... and 1:1 RR seems a bit off given the objective of a system like this. Post a marked up chart if you'd like to point out what you're seeing, but perhaps you should read the first few posts and the PDF on the first page as a refresher to what this thread is focusing on.

That being said, from my (non-PA/BS) perspective, it's clearly strong right now butting heads against a price level. Anything can happen if you just take it as a discretionary directional trade.
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  • #3,225
  • Mar 25, 2012 7:49pm Mar 25, 2012 7:49pm
hmmm... it definately looks like a trade to me. are you in yet?
edit: oh, interesting. you are noticing the swap. I am looking at that huge red candle going down and the price re-visiting.

Quoting sako
Will be watching this will see how it opens and develops
  • #3,226
  • Mar 25, 2012 11:20pm Mar 25, 2012 11:20pm
I have been watching Sam Seiden's video on fxstreet and many times when people ask why not a certain high as a level he would mention that it's a pivot high/low instead of a level. I understand that it won't count as a level if it was a pullback to a previous level.

Do we just look directly left of the pivot high and if it touched a previous level we won't count it as a fresh level?
  • #3,227
  • Mar 26, 2012 12:15am Mar 26, 2012 12:15am
Quoting SnailRoll
I have been watching Sam Seiden's video on fxstreet and many times when people ask why not a certain high as a level he would mention that it's a pivot high/low instead of a level. I understand that it won't count as a level if it was a pullback to a previous level.

Do we just look directly left of the pivot high and if it touched a previous level we won't count it as a fresh level?

yep....

However this gets into judgement calls... If you have a super strong level and price barely touches it and reverses, it may be a consideration for another touch.

The webinar he did on 3.6.12 he covers some of this stuff
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,228
  • Mar 26, 2012 5:03am Mar 26, 2012 5:03am
EURUSD just had a nice bounce around 1.3197 and seems to not have much blocking it on the way up. Would that be correct?
  • #3,229
  • Mar 26, 2012 5:13am Mar 26, 2012 5:13am
Also at the highlighted area there were a lot of trading going on just before the level would this be something to be aware of?
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  • #3,230
  • Mar 26, 2012 5:25am Mar 26, 2012 5:25am
E/U beautiful reaction of the demand zone...

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  • #3,231
  • Mar 26, 2012 5:26am Mar 26, 2012 5:26am
Quoting SnailRoll
EURUSD just had a nice bounce around 1.3197 and seems to not have much blocking it on the way up. Would that be correct?
  • #3,232
  • Mar 26, 2012 5:32am Mar 26, 2012 5:32am
Shame I missed it, but I had the level drawn so at least that means I was right lol
  • #3,233
  • Mar 26, 2012 6:09am Mar 26, 2012 6:09am
My first trade using supply/demand levels. +20pips!
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  • #3,234
  • Mar 26, 2012 6:28am Mar 26, 2012 6:28am
when trading S/D dis regard what is behind the candles and pick . Targets off the current swings . The opposite levels . so we came off demand and 1st target was nearest supply.

Good Trading To All ; Ken Lee
  • #3,235
  • Mar 26, 2012 6:30am Mar 26, 2012 6:30am
chart ,, darn thought I could post it right in message ..
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Good Trading To All ; Ken Lee
  • #3,236
  • Mar 26, 2012 6:44am Mar 26, 2012 6:44am
chart
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Good Trading To All ; Ken Lee
  • #3,237
  • Mar 26, 2012 6:49am Mar 26, 2012 6:49am
It would be kind of like looking at old sales on old newspaper then going shopping you would not find the stuff listed anymore. Doesn't mean some of the stuff won't be the same prices just better to look at current sales papers.

Just like it is better to look at current supply and demand levels.
Good Trading To All ; Ken Lee
  • #3,238
  • Mar 26, 2012 6:49am Mar 26, 2012 6:49am
Quoting Kenneth Lee
chart
LOLLLL
cool spot...
got 50 pips from that...



AC
Simplicity Is The Ultimate Sophistication ~LDV~
  • #3,239
  • Mar 26, 2012 6:56am Mar 26, 2012 6:56am
Quoting Kenneth Lee
It would be kind of like looking at old sales on old newspaper then going shopping you would not find the stuff listed anymore. Doesn't mean some of the stuff won't be the same prices just better to look at current sales papers.

Just like it is better to look at current supply and demand levels.
I guess that's what Sam means in some video about "don't cut candles".

Also anyone have any thoughts about the AUDJPY level? I am giving it a 9 if it arrives cleanly.
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  • #3,240
  • Mar 26, 2012 6:59am Mar 26, 2012 6:59am
here is the same trade on a 1 hr chart just for reference .
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Good Trading To All ; Ken Lee
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