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B.S. Trading with Kenneth Lee

  • #5,421
  • Apr 17, 2013 1:17am Apr 17, 2013 1:17am
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So lets take a peek inside to what might be happening??

We see price made an aggressive move into a Demand on the 1M ..this is also a 50% FIB.. We had a good bounce .. Will need some follow through to get back up..Looking left on the 1m we see a support area .. confluence to our Demand and FIB.

TSD
  • #5,422
  • Apr 17, 2013 1:25am Apr 17, 2013 1:25am
Quoting TraderinSD
{image} So lets take a peek inside to what might be happening?? We see price made an aggressive move into a Demand on the 1M ..this is also a 50% FIB.. We had a good bounce .. Will need some follow through to get back up..Looking left on the 1m we see a support area .. confluence to our Demand and FIB. TSD

Apparently everyone has stepped out for a "spot of tea " ya think??

TSD
  • #5,423
  • Apr 17, 2013 1:45am Apr 17, 2013 1:45am
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We see a fresh Demand as marked.. Will stay with the plan.. We may get a bounce at this level.. If ??? price gets that far ??.. Maybe not..

We plan the trade.. trade the plan..

TSD
  • #5,424
  • Apr 17, 2013 1:56am Apr 17, 2013 1:56am
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mmm?? All must be back for tea.


TSD
  • #5,425
  • Apr 17, 2013 4:08am Apr 17, 2013 4:08am
Please explain me... what mean fresh levels: just RBR or DBD levels can really fresh because DBR/RBD come as a reaction from another level? How can i know that a level its realy fresh. A have seen Sam Seiden webbinars but he not explain very clear this aspect. I have seen Kenneth,s book but i dont understand exactly freshness of level. Thank you very much Ken!
  • #5,426
  • Apr 17, 2013 4:21am Apr 17, 2013 4:21am
Thoughts on this level anyone?
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  • #5,427
  • Apr 17, 2013 4:22am Apr 17, 2013 4:22am
Quoting pasopvirpot
Yes have the same area, with PO at 1.3140.
Awesome,
  • #5,428
  • Apr 17, 2013 7:46am Apr 17, 2013 7:46am
Quoting Aussie-FX
Yes have the same area, with PO at 1.3140.
Awesome,
Any thoughts on this trade by some of the more experienced traders here, was it valid setup that just didnt work out this time?
  • #5,429
  • Apr 17, 2013 8:21am Apr 17, 2013 8:21am
Quoting pasopvirpot
Any thoughts on this trade by some of the more experienced traders here, was it valid setup that just didnt work out this time?
The only things I can see so far as to why is the lower high on the 30min at .3188, and on the 5min you could see that supply is relatively close above but I would have thought a good bounce at least? Possibly also that there is alot of trading around the demand area we chose?
  • #5,430
  • Apr 17, 2013 8:33am Apr 17, 2013 8:33am
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Click to Enlarge Name: JPY 4.16 Long #g 30M.JPG Size: 112 KB


Well as we can see, price did eventually turn back around. As this is the middle of the night for me I called it a day a got some sleep. Notice how price rolled back down to another Demand Level below 97.66...with a now a nice move up I might add..

The good , the bad , and the ugly

Happy trading

TSD
  • #5,431
  • Apr 17, 2013 9:51am Apr 17, 2013 9:51am
Looking for a possible entry on EUR/USD at this demand level. Anybody else in the same boat?
  • #5,432
  • Apr 17, 2013 10:25am Apr 17, 2013 10:25am
Quoting bobyv87
Please explain me... what mean fresh levels: just RBR or DBD levels can really fresh because DBR/RBD come as a reaction from another level? How can i know that a level its realy fresh. A have seen Sam Seiden webbinars but he not explain very clear this aspect. I have seen Kenneth,s book but i dont understand exactly freshness of level. Thank you very much Ken!
Heres the link:

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

Watch this video

How To Identify Fresh Supply and Demand Levels in The Forex Market.

Hope this helps

TSD
  • #5,433
  • Apr 17, 2013 11:01am Apr 17, 2013 11:01am
Hi there , my M15 " fresh" demand zone most probably was stinking already as no reaction on that I was expecting bounce from this after previous rally, any comments? Now price shows some respect for another one on the bottom. I am already not sure if it not penetrated to deep in to zone, arrival seems to be ok..what your thoughts ?
How you guys mostly placing you orders in so called "fresh zone"? I mean:
1. waiting until seeing some PA bullish candle ,
2. or placing limit order?
3. or waiting until price start to create LH (however this already increase significantly SL)?

thanks a lot for your help
good luck
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  • #5,434
  • Apr 17, 2013 11:57am Apr 17, 2013 11:57am
Charts
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Good Trading To All ; Ken Lee
  • #5,435
  • Apr 17, 2013 11:58am Apr 17, 2013 11:58am
Took a negative -21. at the supposed "Demand" level.


Today is just not the day for Supply/ Demand trading...every trade got stopped out...oh well..always tomorrow.
  • #5,436
  • Apr 17, 2013 12:15pm Apr 17, 2013 12:15pm
E/U Charts
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Good Trading To All ; Ken Lee
  • #5,437
  • Apr 17, 2013 12:17pm Apr 17, 2013 12:17pm
Quoting Kenneth Lee
E/U Charts {image} {image}

Yeah Those are exact levels are i was looking at for today.
  • #5,438
  • Apr 17, 2013 12:24pm Apr 17, 2013 12:24pm
Quoting Kenneth Lee
E/U Charts {image} {image}
Cheers Ken for those. I'm assuming the reason the area above the number 1 was not included as a demand level is because price has spent too much time there?
  • #5,439
  • Apr 17, 2013 12:28pm Apr 17, 2013 12:28pm
What's one to do at this point for a Supply area? What levels can we be looking at? 1.3040?
  • #5,440
  • Apr 17, 2013 12:34pm Apr 17, 2013 12:34pm
Quoting Aussie-FX
Cheers Ken for those. I'm assuming the reason the area above the number 1 was not included as a demand level is because price has spent too much time there?
thoughts
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Good Trading To All ; Ken Lee
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