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B.S. Trading with Kenneth Lee

  • #3,801
  • Jul 16, 2012 1:59am Jul 16, 2012 1:59am
current trade on the cable, I was watching that level closely as it seemed like it was going to swap , but price dropped back and I entered mid-level. I'm up 10 pips as of the time of this post.
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  • #3,802
  • Jul 16, 2012 3:14am Jul 16, 2012 3:14am
http://clip2net.com/s/27AWk][img...b.png[/imgHi Ken,
I took short on gbpcad from 1H time frame.Can u tell me the trade that I took this pair is in the correct place?Target levels I marked as T1 and T2.My entry was on 1.5795 with SL 1.5820.Afterwards I moved SL to 1.5808.
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  • #3,803
  • Jul 16, 2012 11:29am Jul 16, 2012 11:29am
Quoting Prosentti
That level comes from here.

ps. for some reason I cannot upload GIF picture... sorry about the messy picture
Thank you for your chart. I see what you meant... but usually such bounces are precise to the pip to some old levels, which is why it's puzzling to me because it's not this time. However, there is a trendline there, connecting 12/June low to 28/June low.

IequalsS, thank you for your explanation too. That's something I should keep in mind in the future.

Still can't see Ken's charts. Strange.
  • #3,804
  • Jul 17, 2012 3:16am Jul 17, 2012 3:16am
current trade on GBPUSD, supply level was spotted on the H4 TF and entry on the 30 minutes. in retrospective I probably shouldn't have taken that trade as price hang around for a while on the M30 . +20 pips at the moment, stop at BE so no sweat off my back.
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  • #3,805
  • Jul 17, 2012 3:20am Jul 17, 2012 3:20am
demand level on AUDUSD
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  • #3,806
  • Jul 17, 2012 3:44am Jul 17, 2012 3:44am
Quoting b0xel
demand level on AUDUSD
Boxel please check out your levels, I think your zone is not properly drawn...the movement long started on the previous candle (if taken on the M30).
Also notice that bullish move may have been caused by news on the aussie (check my news indi below).
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  • #3,807
  • Jul 17, 2012 4:23am Jul 17, 2012 4:23am
Quoting bali2002
Boxel please check out your levels, I think your zone is not properly drawn...the movement long started on the previous candle (if taken on the M30).
Also notice that bullish move may have been caused by news on the aussie (check my news indi below).
Hi,

Attached how I look at the AU. Sometimes I find its best to look at lower timeframe. Your comments are offcause wellcome.
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  • #3,808
  • Jul 17, 2012 4:48am Jul 17, 2012 4:48am
bali2002 thanks for your input mate. I drew that demand level above the "per-rules" level as I noticed many times that price doesn't quite get there on the first run. btw I'd appreciate it if you could attach that news indi.
  • #3,809
  • Jul 17, 2012 5:01am Jul 17, 2012 5:01am
Quoting Akruma
Hi,

Attached how I look at the AU. Sometimes I find its best to look at lower timeframe. Your comments are offcause wellcome.
Attachment
I am new to the method but have drawn a similar demand area.
I have placed limit buy 1.026, stop 1.023.

I am debating a stop at 1.0245 instead. Should my stop be reduced to around 1.0245? [Order is not filled at time of post]
  • #3,810
  • Jul 17, 2012 5:30am Jul 17, 2012 5:30am
Quoting sbfast
I am new to the method but have drawn a similar demand area.
I have placed limit buy 1.026, stop 1.023.

I am debating a stop at 1.0245 instead. Should my stop be reduced to around 1.0245? [Order is not filled at time of post]
hi sbfast,

I am not an expert either. A stop around 1.0245 is what I would use. Probably 1.0248.

I have not placed a limit order, but wait to see how price approache the area.
  • #3,811
  • Jul 17, 2012 6:31am Jul 17, 2012 6:31am
Quoting b0xel
btw I'd appreciate it if you could attach that news indi.
http://www.forexfactory.com/showthread.php?t=250544

  • #3,812
  • Jul 17, 2012 2:28pm Jul 17, 2012 2:28pm
level picking
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Good Trading To All ; Ken Lee
  • #3,813
  • Jul 17, 2012 2:52pm Jul 17, 2012 2:52pm
fantastic day for me. took a short on GBPUSD that hit my TP at 60 pips. another short on audcad closed at +20 pips. at this point I reached my daily target but just before I called it a day I made a buy limit order on a nice demand level on AUDUSD, hit TP at +40 pips...I'm falling in love with this. hope everyone had a rewarding day as well. trade safe.
  • #3,814
  • Jul 17, 2012 3:31pm Jul 17, 2012 3:31pm
Quoting Kenneth Lee
level picking

You can spend years learning this stuff but you are not going to get to the secret of the market till you can duplicate this. This is the cleanest representation I have ever seen, I take my hat off to you Kenneth, well done!
  • #3,815
  • Jul 17, 2012 4:02pm Jul 17, 2012 4:02pm
if all time frames agree ????????????
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Good Trading To All ; Ken Lee
  • #3,816
  • Jul 17, 2012 4:11pm Jul 17, 2012 4:11pm
chart
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Good Trading To All ; Ken Lee
  • #3,817
  • Edited 4:28pm Jul 17, 2012 4:12pm | Edited 4:28pm
I have to (two) screens setup that show those 3 time frames on my primary pairs
so just the current price line across the charts tell me a lot

and why would u listen to a person that can't spell TWO....
Good Trading To All ; Ken Lee
  • #3,818
  • Jul 17, 2012 6:37pm Jul 17, 2012 6:37pm
Quoting Kenneth Lee
level picking
Thanks, Ken, great charts. I have a question though, given euro's strong down trend, when you are long on its way up, how would you decide that it would not end at a previous support level broken such as 2270 on the current chart? This has always been an area of hesitation for me in trading with this kind of setup, not sure which side of supply/demand to take for more importance. Your view will be greatly appreciated.
  • #3,819
  • Jul 17, 2012 8:06pm Jul 17, 2012 8:06pm
Quoting Kingsw
Hi KL,

Thanks for the pdfs on supply/demand. Very useful indeed.

I have skimmed through most of the posts in your thread, and notice that the way the support/demand zone is drawn varies a lot among traders. Most of them are drawn retrospectively and it appears that none, except yours, has a systematic way of defining such zones. If I am not mistaken, the support/demand zones are bounded by the swing low/high and the body high/low of the bar prior to the momentum bar. Please advise.

Thanks again for the great thread.

Regards,
King
Hi KL,

I think you have answered my question with the charts above. Thanks

Regards,
King
  • #3,820
  • Jul 17, 2012 8:12pm Jul 17, 2012 8:12pm
Quoting Kenneth Lee
level picking

Hi KL,

What's the general ratio (open-close range?) that you look for between the momentum bar and bar prior to it?

Thanks.

Regards,
King
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