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B.S. Trading with Kenneth Lee

  • #4,461
  • Oct 9, 2012 9:37am Oct 9, 2012 9:37am
C-12, nice trade as always

Quoting C-12
A thing of beauty.

Even nicer on a M1 chart. It's a 1.5 pip size level.
  • #4,462
  • Oct 9, 2012 9:44am Oct 9, 2012 9:44am
Quoting ax3l
C-12, nice trade as always
I wasn't in this. I marked off the level earlier but I had to leave the house and I'm not a fan of 'set and forget' trades.

Not worried about missing it though since they'll be more of them on my trading days (Weds, Thurs, Friday).
  • #4,463
  • Oct 9, 2012 9:56am Oct 9, 2012 9:56am
Very nice spot there still !

Quoting C-12
I wasn't in this. I marked off the level earlier but I had to leave the house and I'm not a fan of 'set and forget' trades.

Not worried about missing it though since they'll be more of them on my trading days (Weds, Thurs, Friday).
  • #4,464
  • Oct 9, 2012 10:07am Oct 9, 2012 10:07am
Quoting C-12
Morning guys.

Once again, another no brainer for 10 pips with more than a 2:1 ratio. A very high probability setup.
C-12

Could you speak to those who may not understand why this is a " no brainer" .. Might be helpful for those having difficulty.

Just a thought

TSD
  • #4,465
  • Oct 9, 2012 10:12am Oct 9, 2012 10:12am
Quoting TraderinSD
C-12

Could you speak to those who may not understand why this is a " no brainer" .. Might be helpful for those having difficulty.
Sure

Basically all the usual odds enhancers, the strong drop, the few candles in the level, fresh with bigger picture support.

Just from observation these quality M1 levels show up quite often and tend to go for 10 pips + during the London and early NY session.

It seems like the banks and institutions make their move early in the session and price often returns to these levels to clear out the remaining orders.
  • #4,466
  • Oct 9, 2012 10:20am Oct 9, 2012 10:20am
Quoting EuroPipper
The trade of the day!

Agreed

TSD
  • #4,467
  • Oct 9, 2012 10:31am Oct 9, 2012 10:31am
Quoting C-12
Sure

Basically all the usual odds enhancers, the strong drop, the few candles in the level, fresh with bigger picture support.

Just from observation these quality M1 levels show up quite often and tend to go for 10 pips + during the London and early NY session.

It seems like the banks and institutions make their move early in the session and price often returns to these levels to clear out the remaining orders.

Well done C-12

If I may expand on:

Basically all the usual odds enhancers.. Review what Sam and KL have put out

The strong drop.. The obvious place to start looking

The few candles in the level.. 3 or 4 make a very good level

fresh with bigger picture support... Trading in the direction of the larger trend.. Starting with the larger TF and working your way down. The wind at your back so to speak.

Tradingduring the London and early NY session..The sweet spot


Just my added 2.5 cents

TSD
  • #4,468
  • Oct 9, 2012 12:46pm Oct 9, 2012 12:46pm
thanks to c-12 and ken for reply with nice chart . Learnt a lesson .
  • #4,469
  • Oct 9, 2012 1:55pm Oct 9, 2012 1:55pm
Quoting C-12
A thing of beauty.

Even nicer on a M1 chart. It's a 1.5 pip size level.
That's the trade...london open, price breaks, returns to pole and down it goes

good one
  • #4,470
  • Oct 9, 2012 2:41pm Oct 9, 2012 2:41pm
Hi. Firstly thank kenneth and all the other guyz for making and keeping this thread updated. I have just started in the trading world and luckily found out about supply and demnand. I had a couple of questions and hope any of you can help me out:

Firstly what are the best tf to find the best levels? I'm using right now 60 min to find the levels and 15 o 5 for entry.

To find the trend of the day should I simply see the highs and lows or is there more to that? What tf is best to see the correct trend for the day?

I know some of these questions might sound really obvious for you guys but as I mentioned before I am really new to this whole trading so would really appreciate some help. Cheers and happy tranding to all.
  • #4,471
  • Oct 9, 2012 11:04pm Oct 9, 2012 11:04pm
Trade update,

AUD/USD, Trade was entered almost to the pip. Moved stop to break even plus one at 1:1 Risk reward and was stopped out there. Trade did move to target level at 1.01815 though after I was stopped out.

EUR/USD, Trade was never triggered and have removed pending order.
PIP'N
  • #4,472
  • Oct 10, 2012 3:21am Oct 10, 2012 3:21am
Hi everyone,

Possible EURUSD trade today: SHORT @ 1.2925, stop @ 1.2945

The level was barely touched the first time, so I'll have a shot at it.

Comments welcome!
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  • #4,473
  • Oct 10, 2012 4:24am Oct 10, 2012 4:24am
Quoting EuroPipper
The level was barely touched the first time, so I'll have a shot at it.

Comments welcome!
Agreed but since you've been awake bright and early I hope you've already caught these!
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  • #4,474
  • Oct 10, 2012 4:39am Oct 10, 2012 4:39am
Just to time stamp these levels. This is UK time at the London open.

You can almost see the big money setting the range for the morning session.
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  • #4,475
  • Oct 10, 2012 4:55am Oct 10, 2012 4:55am
First trade of the day.
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  • #4,476
  • Oct 10, 2012 4:57am Oct 10, 2012 4:57am
Quoting C-12
Agreed but since you've been awake bright and early I hope you've already caught these!
I don't get the bottom one, it was tested twice and second pullback pierced that level entirely.
  • #4,477
  • Oct 10, 2012 5:01am Oct 10, 2012 5:01am
Quoting Peter_FX
I don't get the bottom one, it was tested twice and second pullback pierced that level entirely.
No these trades have already been and gone. I was just highlighting some earlier action since I overslept until 10.30am.

The main point being the initial moves at the session open, price then coming back to clear any remaining orders.
  • #4,478
  • Oct 10, 2012 5:10am Oct 10, 2012 5:10am
Quoting C-12
No these trades have already been and gone. I was just highlighting some earlier action since I overslept until 10.30am.

The main point being the initial moves at the session open, price then coming back to clear any remaining orders.
Ah ok

btw. reversal coming, time to look for some short term longs longs

DXY chart

http://s12.postimage.org/6l4bcikr1/eurx.jpg
  • #4,479
  • Oct 10, 2012 5:19am Oct 10, 2012 5:19am
Quoting Peter_FX
Ah ok

btw. reversal coming, time to look for some short term longs longs

DXY chart
Yep something to watch.

Now my daily target is 20 pips ($200) and I don't mind if I get there ugly by scrapping out pips. ~Although I prefer runners!

I really need to start being awake for the London open.
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  • #4,480
  • Oct 10, 2012 5:28am Oct 10, 2012 5:28am
I'm taking that 10 pips no matter what. Locked.
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