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B.S. Trading with Kenneth Lee

  • #5,401
  • Apr 16, 2013 11:25am Apr 16, 2013 11:25am
EUR USD:

Not sure whos looking at the EUR/USD but are we looking to make a RDB right here? to find a new Supply area?
  • #5,402
  • Apr 16, 2013 11:26am Apr 16, 2013 11:26am
Quoting arjfca
Few notes: - You may need to look further in time. From the chart that you show, market seem to be stalled in a ranging area - Not every trade will be profitable. This concept of trading on the supply / demand zone is to increase the odd. But this not a 100% winning concept - in your charts, price did react to demand / supply zone, but it is up to us to understand the further direction and witch one is a valid one. Very easy to understand with insigth charts but not se easy in real time. Honestly, I struggle a lot on that to System do work....
Awesome work on getting to where you are arjfca! Would you or anyone else consider this level (blue arrow) to be a fresh supply level on AUDUSD? I didnt take it because of the wick down to previous demand, I mean it was a great move away from that level, am I missing something? Thanks
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  • #5,403
  • Apr 16, 2013 11:28am Apr 16, 2013 11:28am
Quoting thestarting
For Example TraderinSD, You wouldn't pull any short trades until it hits the upper box named "Supply" 1.3096 area with a stop 1.3106 which is just about the supply box.

Yes, "as an example only".. This is what short looks like.. See the pattern...Stops and entries are determine base on size of account and risk tolerance.

I would try to place my stops outside the box..


TSD
  • #5,404
  • Apr 16, 2013 11:35am Apr 16, 2013 11:35am
Quoting TraderinSD
Yes, "as an example only".. This is what short looks like.. See the pattern...Stops and entries are determine base on size of account and risk tolerance. I would try to place my stops outside the box.. TSD

Perfect, As you can see the EUR/USD now it seems like it will be making fresh supply soon...so i'll be looking for a Drop..then a run back to the base (supply) to execute a trade if im not mistaken.

Edit : Sorry. I'll be looking for a DROP then a BASE then a RISE To execute a short at the fresh Supply that's being made right now...
  • #5,405
  • Apr 16, 2013 11:39am Apr 16, 2013 11:39am
Quoting thestarting
Thank you so much. Still a little confused on the DBR levels. Can you recommend some videos from Sam? Thank you sir.

Really the best place to start is at the begining...here's the link.. You will have 2013 vid's as well as previous years.

http://www.fxstreet.com/search/contr...&contenttype=w


TSD
  • #5,406
  • Apr 16, 2013 11:42am Apr 16, 2013 11:42am
Quoting thestarting
EUR USD: Not sure whos looking at the EUR/USD but are we looking to make a RDB right here? to find a new Supply area?
Hey thestarting, I'm not saying I'm right and please any of the veterans please correct me, but this is where Id be looking for a trade on EURUSD.

Aussie
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  • #5,407
  • Apr 16, 2013 11:59am Apr 16, 2013 11:59am
Quoting thestarting
Perfect, As you can see the EUR/USD now it seems like it will be making fresh supply soon...so i'll be looking for a Drop..then a run back to the base (supply) to execute a trade if im not mistaken. Edit : Sorry. I'll be looking for a DROP then a BASE then a RISE To execute a short at the fresh Supply that's being made right now...
Yeh if we get a strong drop from this level, then we would have created a Rally Base Drop, to short into on a retrace to the base.
  • #5,408
  • Apr 16, 2013 2:17pm Apr 16, 2013 2:17pm
Quoting Aussie-FX
Hey thestarting, I'm not saying I'm right and please any of the veterans please correct me, but this is where Id be looking for a trade on EURUSD. Aussie {image}
Yes have the same area, with PO at 1.3140.
  • #5,409
  • Apr 16, 2013 5:37pm Apr 16, 2013 5:37pm
eur/usd thoughts

Today, the pair had a vigorous move through 1.3140/60 supply, causing the clearance of all the unfilled sell orders and producing in the process a fresh demand area. The new imbalance between buyers and sellers is now found between 1.3110 and 1.3140 - first chart - (safer area). Depending on risk profile, a second chart is attached below pin pointing the 1.3140/30 demand location, as per the rally-base-rally structure created during a brief sequence of eight 5 minutes candles, suggesting a strong imbalance in favour of demand, as price could only stay in the area barely 30 minutes.

I will be entering long if retest of level seen
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  • #5,410
  • Apr 16, 2013 6:38pm Apr 16, 2013 6:38pm
Quoting IvanFX
eur/usd thoughts Today, the pair had a vigorous move through 1.3140/60 supply, causing the clearance of all the unfilled sell orders and producing in the process a fresh demand area. The new imbalance between buyers and sellers is now found between 1.3110 and 1.3140 - first chart - (safer area). Depending on risk profile, a second chart is attached below pin pointing the 1.3140/30 demand location, as per the rally-base-rally structure created during a brief sequence of eight 5 minutes candles, suggesting a strong imbalance in favour of demand, as...



TSD
  • #5,411
  • Apr 16, 2013 6:42pm Apr 16, 2013 6:42pm
Quoting TraderinSD
TSD
same view?
  • #5,412
  • Apr 16, 2013 6:56pm Apr 16, 2013 6:56pm
Quoting IvanFX
eur/usd thoughts Today, the pair had a vigorous move through 1.3140/60 supply, causing the clearance of all the unfilled sell orders and producing in the process a fresh demand area. The new imbalance between buyers and sellers is now found between 1.3110 and 1.3140 - first chart - (safer area). Depending on risk profile, a second chart is attached below pin pointing the 1.3140/30 demand location, as per the rally-base-rally structure created during a brief sequence of eight 5 minutes candles, suggesting a strong imbalance in favour of demand, as...

Let's say that was the new Supply Level. Usually how many times does that Supply level gets visited? for possible shorts? And is the idea of supply and demand to also Trade Short and Long positions? I'm assuming we're trying to go with the bigger trend....thank you in advance.
  • #5,413
  • Apr 16, 2013 7:43pm Apr 16, 2013 7:43pm
watching 5 demand in Aussie... (golden area) so far there seems to be a decent 2:1 profit margin...
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  • #5,414
  • Apr 16, 2013 9:53pm Apr 16, 2013 9:53pm
I am long AUDUSD based on 5m demand area. I will be targeting 2:1 RR to 1.0378 demand

See chart:
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  • #5,415
  • Apr 16, 2013 10:36pm Apr 16, 2013 10:36pm
I moved to BE after price failed to break thru that conventional resistance. Since this was an AUDUSD 5m long against a 30m supply rejecting higher prices., management had to be very tight. Be cautious to play lower timeframes setups if higher ones are communicating the contrary.
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  • #5,416
  • Apr 17, 2013 12:29am Apr 17, 2013 12:29am
Quoting TraderinSD
{image} I would draw them smaller. There is no way of telling ( at this point ) when the levels are drawn, which one PA will stop at. Additional info would be needed as discussed in post # 5350. Review your ODDS ENHANCERS.. This will help a great deal. Hope this helps TSD
TraderinS:

I see why your levels are better and with post 5350 it is making more sense.

Thanks

May the Forex be with you.
  • #5,417
  • Edited 2:05am Apr 17, 2013 12:37am | Edited 2:05am
Quoting Borg
TraderinS: I see why your levels are better and with post 5350 it is making more sense. Thanks
Time and patience.. it will help you to succeed.

Here is a link to one of Sam's Vid's that addresses picking levels. I just finished watching it. This should help.

http://www.fxstreet.com/webinars/ses...e-c31b85045dee


TSD
  • #5,418
  • Apr 17, 2013 12:47am Apr 17, 2013 12:47am
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We are currently long on a 2 lot Swap trade. As you can see I was ridiculously late getting in ( please don't try this at home boys and girls )

Seriously, we are still able to maintain a 15 pip SL per lot with a 2:1 R/R. We endured some pain at the beginning but PA never really made an aggressive move short.

Price is stalling at this point .. just short of TP. So will need to keep a close eye.

TSD
  • #5,419
  • Apr 17, 2013 12:52am Apr 17, 2013 12:52am
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Here's where the patience part comes in


TSD
  • #5,420
  • Apr 17, 2013 1:04am Apr 17, 2013 1:04am
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Patience

TSD
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