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B.S. Trading with Kenneth Lee

  • #5,461
  • Apr 18, 2013 9:04pm Apr 18, 2013 9:04pm
trying to learn to trust my plan, ,,,
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Good Trading To All ; Ken Lee
  • #5,462
  • Apr 19, 2013 4:15am Apr 19, 2013 4:15am
Is anyone else shorting off this supply zone?

GBPUSD H4
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  • #5,463
  • Apr 19, 2013 4:49am Apr 19, 2013 4:49am
I took my profit on Gbp-Usd 135 pips. I did not sell because global trend UP. Sorry for my English))
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  • #5,464
  • Edited 4:33pm Apr 19, 2013 9:31am | Edited 4:33pm
Quoting fuse
Is anyone else shorting off this supply zone? GBPUSD H4 {image}
Well done Fuse


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Here is a good example of what I mentioned in the past about trading the S/D method.

1) Price has established a range.

2) The short taken by Fuse was close to the top of the range ( the extreme is you will ).

3) From my perspective whether it is a Supply or Demand level, when we have a set up such as this, we have a higher probability trade.


The S/D method gives you that opportunity to trade both range and trending markets.


TSD
  • #5,465
  • Apr 19, 2013 9:32am Apr 19, 2013 9:32am
Quoting Okko
I took my profit on Gbp-Usd 135 pips. I did not sell because global trend UP. Sorry for my English)) {image}
Well done to you Okko

TSD
  • #5,466
  • Apr 19, 2013 10:48am Apr 19, 2013 10:48am
My opinion. If I made mistake please correct me.
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  • #5,467
  • Apr 19, 2013 11:45am Apr 19, 2013 11:45am
chart
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Good Trading To All ; Ken Lee
  • #5,468
  • Apr 21, 2013 2:46pm Apr 21, 2013 2:46pm
Quoting Kenneth Lee
trying to learn to trust my plan, ,,, {image}



Hello Ken:

Excellent trade.

Can you tell me why for this trade you went long off the second low instead of the first low ?

Thanks

Borg
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May the Forex be with you.
  • #5,469
  • Apr 21, 2013 3:49pm Apr 21, 2013 3:49pm
Quoting Borg
{quote} Hello Ken: Excellent trade. Can you tell me why for this trade you went long off the second low instead of the first low ? Thanks Borg {image}

I didn't get off work till 2:00 eastern ... Wasn't here...
Good Trading To All ; Ken Lee
  • #5,470
  • Apr 21, 2013 6:33pm Apr 21, 2013 6:33pm
trade
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Good Trading To All ; Ken Lee
  • #5,471
  • Apr 21, 2013 10:39pm Apr 21, 2013 10:39pm
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Overview of the 30M level and a 4HR level from 4/14/2009

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We got short a 2 lot for this S/D Gap trade on the 1M.. Price moved aggressively away from our entry.

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We took a second 2 lot short on the retest as Supply coming back in


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Price move around a bit but you will notice how Supply kept coming into out level at various points. This gave confidence to stay in the trade even through when a little pain to sit through


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We then established a 3 Supply level. Price move down and rolled back up for the test of this Supply level

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Price again made another attempt to go south but have a very difficult time as indicated.
  • #5,472
  • Apr 21, 2013 10:44pm Apr 21, 2013 10:44pm
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switched to a 5M for a little better view once price started moving. Close out our first position @ TP

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Closed out our second position as price began stall.


Total pipage for both positions 60 plus pips.


TSD
  • #5,473
  • Apr 21, 2013 11:26pm Apr 21, 2013 11:26pm
Quoting TraderinSD
{image} switched to a 5M for a little better view once price started moving. Close out our first position @ TP {image} Closed out our second position as price began stall. Total pipage for both positions 60 plus pips. TSD
Good trade. I'm on exactly the same trade, still holding both positions for bigger targets. Let's see if it'll work out:

chart:
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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #5,474
  • Apr 22, 2013 4:05am Apr 22, 2013 4:05am
Hello everyone. New guy here. I'd like to start by thanking all the members here that take time to help others (especially Ken) like me when they should be concentrating on their trade. That shows class and selflessness. We need more of that in this world. Anyway, would like anyone's opinion on this level. Thanks in advance.
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Felix R
  • #5,475
  • Apr 22, 2013 7:37am Apr 22, 2013 7:37am
Quoting felixrod76
Hello everyone. New guy here. I'd like to start by thanking all the members here that take time to help others (especially Ken) like me when they should be concentrating on their trade. That shows class and selflessness. We need more of that in this world. Anyway, would like anyone's opinion on this level. Thanks in advance. {image}

May I suggest: Look at the larger pattern.. Close your chart up so that you have more candles. Look at the 103.60 level April 15th...See how price feel of very sharpley for about 5 periods. This is were I would want to set my Supply.... See how price then went sideway in the 102.10 area..The fell sharply again.. This is your Drop-Base-Drop.. Price then returned the 101.87 Supply on the 17th..Now look at the entire pattern See the Drop-Base-Rise that may be forming.

The level you picked would be a more difficult level to trade at this point as you are trading inside the base of a larger pattern. As we see price has fallen off but depending were you put your stop you may or may not have made this trade? We also have a series of HL's begining back on the 15th 98.76 then swinging all the way up 101.88.. This was just taken out .. Wouldnot be supprised if we get a swing back up towards the 103.60 Supply mentioned earlier.. Will just have to wait and see.

You can look the 4HR pattern og the DBD pattern.. very clear

Just a another point of view

TSD
  • #5,476
  • Apr 22, 2013 7:42am Apr 22, 2013 7:42am
Quoting keroro0o0o
{quote} Good trade. I'm on exactly the same trade, still holding both positions for bigger targets. Let's see if it'll work out: chart: {image}
Trade worked out perfectly, too bad my lack of patience, and scared of losing by moving SL to BE paid the price.... I wonder if i should ever move SL to BE because this scenario happened to me for far too many times.

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Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #5,477
  • Apr 22, 2013 7:45am Apr 22, 2013 7:45am
Thank you Trader, I will apply what you mentioned. The bigger picture is what I'm missing here I believe.
Felix R
  • #5,478
  • Apr 22, 2013 8:24am Apr 22, 2013 8:24am
Quoting keroro0o0o
{quote} Good trade. I'm on exactly the same trade, still holding both positions for bigger targets. Let's see if it'll work out: chart: {image}
It definitely continued short .. Very nicely done if you stayed in oops...just notice you additional chart ..

Well done !!!!

TSD
  • #5,479
  • Apr 22, 2013 10:11am Apr 22, 2013 10:11am
Hello everyone, hope the trading day is treating this community well. Here is a trade I entered this morning and am currently still in. GU long from 1.52273. Obviously the orange area is the demand zone. Have a great day all.

Felix
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Felix R
  • #5,480
  • Edited 2:10pm Apr 22, 2013 1:10pm | Edited 2:10pm
Quoting felixrod76
Hello everyone, hope the trading day is treating this community well. Here is a trade I entered this morning and am currently still in. GU long from 1.52273. Obviously the orange area is the demand zone. Have a great day all. Felix {image}
Hi Felix..

There is a lot going on in this structure. Very interesting and aggresive trade here. If I may, I would like to comment on this later today. Would that be ok?

TSD
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