B.S. Trading with Kenneth Lee | Page 165 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Day Trading vs. Swing Trading vs. Position Trading 86 replies

Attachments: B.S. Trading with Kenneth Lee
Exit Attachments

B.S. Trading with Kenneth Lee

  • #3,281
  • Mar 27, 2012 10:31pm Mar 27, 2012 10:31pm
kenneth,

one more question, when and if the eur/usd reaches 1.3050, you can see in the past on the 30M that that was a level. would we still put in a buy at that level treating it as a fresh level being revisited? or would that be considered way in the past and history?
  • #3,282
  • Mar 28, 2012 12:21am Mar 28, 2012 12:21am
Chiba San's query is very good in the larger context. Ken, pls let us know your opinion when you see this.

I think EUR/USD may not be so easily coming below 1.3300 level and that's a very strong S/D level.. It looks like a perfect breakout trade from what has been a very strong supply level all this month, now playing a demand level after swap.

Will have to wait for Londoners to finish breakfast to know the answer.
Not trend, but imbalance is my friend
  • #3,283
  • Mar 28, 2012 2:12am Mar 28, 2012 2:12am
Hi guys,

Will hopefully start contributing to this thread a lot more over the coming days and weeks.

I went to a trading seminar yesterday in London where Sam Seiden was the main speaker and he went through the core supply and demand strategy. Really emphasised from how he explained it that this really is the ultimate form of trading because you get in each move at the point of lowest risk and highest reward.
  • #3,284
  • Mar 28, 2012 2:49am Mar 28, 2012 2:49am
i have an eye on yen-pairs...they are in a very strong uptrend

here another swap on EUR/JPY, looks like forming a pinbar, but second touch so i will wait for the candle close.

Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy.gif Size: 23 KB
  • #3,285
  • Mar 28, 2012 2:56am Mar 28, 2012 2:56am
Quoting pbanerjee
Just went long with AUD/USD, may be 4-5 pips late.
that one doesn't look like a demand level to me
  • #3,286
  • Mar 28, 2012 3:05am Mar 28, 2012 3:05am
EUR/AUD levels of interest

Attached Image (click to enlarge)
Click to Enlarge Name: euraud.gif Size: 20 KB
  • #3,287
  • Mar 28, 2012 4:19am Mar 28, 2012 4:19am
Quoting bullzeye
EUR/AUD levels of interest
Hi,
looks great, especially that there is strong S/R level just above
W Szczebrzeszynie chrząszcz brzmi w trzcinie
  • #3,288
  • Mar 28, 2012 9:47am Mar 28, 2012 9:47am
Only paper trading at this point but heres a trade I picked out this morning which has hit its 1st target.

http://www.forexfactory.com/attachme...1&d=1332945884

This was on the 30min gold chart so bit unusual as I tend to do forex but the theory should hold on any market. Was pretty confident about the level and was with the daily/4h trend.

I put the 1st target level above the most recent swing high but I think the correct level i.e next demand level would be the 2nd red line, is that correct?

Either way, the 1st level which it's hit gives 140 pips profit against a 37 pip risk.
  • #3,289
  • Mar 28, 2012 12:42pm Mar 28, 2012 12:42pm
Currently short on USD/CHF. Took the first bounce off supply level at 0.9090 though price turned south 8-9 pips before that
Not trend, but imbalance is my friend
  • #3,290
  • Mar 28, 2012 4:44pm Mar 28, 2012 4:44pm
Quoting pbanerjee
Currently short on USD/CHF. Took the first bounce off supply level at 0.9090 though price turned south 8-9 pips before that
i don't think USDCHF reach 0.9090 today, so where did u get ur supply?
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #3,291
  • Mar 28, 2012 9:20pm Mar 28, 2012 9:20pm
Quoting Kenneth Lee
I want to move more into PO trading but I have traded manually so long it is hard to do at this point. I do just what i say I watch Price Action but no i don't switch time frames there is no need and I never wait for any signal candles. You can see a lot if your really watch as the price is moving you can see momentum falling off or gaining . by the speed in which the price is moving forward . you can see price hesitating and stopping all together and the orders start to swap as price stalls . Then we can see the imbalance of orders...
Thanks for the great thread Ken. I read it all the way through during the past week. It is very clear.

Can you further explain your manual entries? (When price is in or near your zone, what is your entry trigger?)
  • #3,292
  • Mar 28, 2012 11:02pm Mar 28, 2012 11:02pm
Quoting ejiexe
i don't think USDCHF reach 0.9090 today, so where did u get ur supply?
I marked a supply zone (at the arrow) and I took the short as price turned below just before. I closed the trade on small gain as it wasn't moving well enough.
Attached Image (click to enlarge)
Click to Enlarge Name: supplydemandmt4chart1.gif Size: 18 KB
Not trend, but imbalance is my friend
  • #3,293
  • Mar 29, 2012 2:48am Mar 29, 2012 2:48am
Hi ken,
very informative thread and peaceful place you have here !!

Possible long setting up on CAD-JPY

Any thoughts?

all the b
chriz
Attached Image (click to enlarge)
Click to Enlarge Name: cadjpy.gif Size: 19 KB
  • #3,294
  • Mar 29, 2012 3:02am Mar 29, 2012 3:02am
i have an eye on this one: USD/JPY

strong upmove, second touch of a daily demand level, maybe we gonna break the uptrend channel down...let´s wait and see

Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.gif Size: 21 KB
  • #3,295
  • Mar 29, 2012 5:24am Mar 29, 2012 5:24am
My second trade ever with S/D levels: EUR/GBP, +10 pips!
Attached Image (click to enlarge)
Click to Enlarge Name: Capture d’écran 2012-03-29 à 12.22.22.png Size: 34 KB
  • #3,296
  • Mar 29, 2012 5:44am Mar 29, 2012 5:44am
Cheers mate!
Not trend, but imbalance is my friend
  • #3,297
  • Mar 29, 2012 10:48am Mar 29, 2012 10:48am
Quoting thomaas
My second trade ever with S/D levels: EUR/GBP, +10 pips!
Nice !!
Trade Smart
  • #3,298
  • Mar 29, 2012 12:19pm Mar 29, 2012 12:19pm
Quoting bullzeye
i have an eye on this one: USD/JPY

strong upmove, second touch of a daily demand level, maybe we gonna break the uptrend channel down...let´s wait and see

Attachment
Bullzeye, That was bull's eye :-)

There is a beautiful supply zone on USD/JPY visible on 30M, 1H and 3H on my GMT (BST actually) chart. But I doubt the price will get there in near future in such a bearish mood.
Attached Image (click to enlarge)
Click to Enlarge Name: DemandSupplyTrade16.png Size: 50 KB
Not trend, but imbalance is my friend
  • #3,299
  • Mar 29, 2012 1:46pm Mar 29, 2012 1:46pm
Thanks pbanerjee and Osman! :-)

Quick question: I'm looking for a website where I can see charts of all major currencies in one page.
I want something like this but where I can save my template. Any idea?
Thanks!
  • #3,300
  • Mar 29, 2012 3:09pm Mar 29, 2012 3:09pm
Quoting bullzeye
EUR/AUD levels of interest

Attachment
EUR/AUD i went in a short trade...daily supply level and the candle forming a nice pinbar...maybe too early, but lets see

Attached Image (click to enlarge)
Click to Enlarge Name: euraud.gif Size: 20 KB
15 traders viewing now