B.S. Trading with Kenneth Lee

Of course that's ok, I appreciate you taking time out to even take a look and comment. Thank you much.

chart,might be worth another 100.. But tired , and a lot of news , so closed and sleep better.

I'm still in this trade. It was a pretty good setup. I already took 70% of the trade. Letting the rest ride ...moved my SL to break even...
Looking for 98.333 level...can anybody else validate please?

Very nice trade! I'm looking at your Supply level and I'll be going short around that 5303 area...looks like a good supply level on the 4H and 30M Chart! awesome dude!

To be honest i wanted to take the same trade but looking at the bigger picture it looks like its more of a downtrend (4H) ? Anybody else wana give some food for thought on this. Thanks!

Hi, nice that you held onto the trade nicely. I've been repeating the same mistake again and again by moving SL to BE and get stopped out before the next movement. Will have to work on that. Anyway, here's something to look for for your UJ short. Price is forming a nice H&S, but look for the demand zone below at 98.5'ish.

Yup, Good level. That will be the first true test...of demand...

Closing another portion here at 98.633. Letting the rest ride.

It's painful to see my final target hit, without me...both positions turned out to be 4R/8R respectively... what a pity...

Taking a look at the larger view on the higher TF we see a major drop from Supply into Base. We see both a Monthly Supply Level and a Weekly Supply. Why is this important? Based on the pattern in the higher TF the pressure is to the upside. To say that this is exactly what price will do would be incorrect, the probability is high. We also see HL's within the Base. Another indication that we may see a move back to Supply overhead. I am a proponent that these S/D levels tend to act like price magnets.



He is a shot of the Daily.. Basically Weekly was brought down to a Daily. Higher probability levels tend to be in the same area. Both Sam and KL speak to moving to the smaller TF's to tighten up your entry levels.




We see here were price visited the 1Hr Demand Level 3 times as marked. At point #3 one would think that price would continue short, through the Demand Level...... The point is: If you look at this chart as a single TF that could be the conclusion. But because we have looked at the higher TF's, we now see the Pattern w/in the Pattern. Price is really trading inside a Base as previous mentioned. Also notice that #3 went deeper into our Demand Level. Price should move up.. The Pressure is to the upside.




Just after #3 price made a HL on the 30M. We also see that price spend a very short time at this HL area before moving up aggressively. Now when I say aggressively you must remember to look at the context of what price is doing. The are 2 major up candles compared to the rest of the candles they do not display this same PA..Larger spread from high to low. We also have a 60M Supply overhead. Looking back left on April 19th we see very aggressive move short that was the Drop prior to the Base we now see. Again the Pattern w/in the Pattern.




Price moved away from a smaller Demand Level to create our second 30M Demand Level. We see price had come back down into our new 30M Demand. Per Felix's post he entered at 5227.

This was an aggressive entry but not without reason. ( as I see it ) Looking back left to about the 20th of April we see the 5225 area has acted like resistance turned support.. A confluence level. When I see this type of confluence with S/R in the same area as S/D it gives me more confidence to take the trade.. ( not a traditional ODDS ENHANCER but rather one I personally consider..IMHO )

So if we look at the charts overall ..

1) Larger view we see HL's with the higher TF base.
2) Very distinctive Supply overhead.
3) Price is being drawn back up to Supply.
4) Taking trade from Demand Levels should be the higher probability trade.

This just a point of view and may not be for everyone

TSD

Good morning all. Did anyone take this?

I wanted this trade. But never got an entry on my 30M level. Anybody take it? I just thought 1.5307 would be a better price.

Nicely done

TSD

Long term view of the Daily. We are inside the range with price trading at the lower end of the range.



4HR view w/ FIB's attached. We have a Demand area @ the 78.6 level. Price at this point is Ranging just above this level. There is a small HL PIN Bar that penetrated our Demand Level.




We see on the 5M there is a Demand Level just above the 4HR Demand Level. we also see a obvious BASE that has formed from the DROP from 1.0268 Supply overhead.



Here is a closer look at what is happening after price moved long away from our 4HR and 5M Demand levels. We clearly see a range that has formed. Because we had such a strong DROP then a BASE.. I was looking to see if we could get a break of this range for a possible Magnet Trade. I was looking for price to show a aggressive move out of this BASE in the direction of Supply. Moving from the FIB level, 2 Demand Levels and out of the BASE Aggressively gave me the confidence to take the trade long.



Price now moving in our direction.. If we can get above the 1.0255 Resistance level we should see some good movement into Supply.. Looking left we see clear sailing..

The reason I am showing this trade is by watching how PA performs around levels we can often get an indication of an opportunity to enter a trade with reasonable confidence. KL has spoken about watching how PA moves around S/D levels. This is just an example of how the S/D method can be used.

We are long a 2 lot.

TSD

Price still showing in our favor

TSD

Price has retraced back to a small Demand Level / Entry.. Looking for a return to the long side.. Will see

Price has stalled .. now comes patience

TSD

Price has move a bit against us.. PA has turned at the top of the range - S/R..Will see if we can get some resumption of our move north?

TSD

Hi T,

I was in the similar trade, being bullish biased in AUDUSD, but was stopped out by the spike yesterday...Bad luck for me...Hope it works out for you

my trade in AUDUSD:
http://www.forexfactory.com/showthre...85#post6629585

Price now moving back in our direction.

TSD