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B.S. Trading with Kenneth Lee

  • #5,701
  • May 21, 2013 6:23am May 21, 2013 6:23am
chart
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Good Trading To All ; Ken Lee
  • #5,702
  • May 21, 2013 7:08am May 21, 2013 7:08am
Quoting Kenneth Lee
chart {image}
Lower half of the screen .... Simple minded!

Kenneth that was a joy. Thank you!
  • #5,703
  • May 21, 2013 9:38am May 21, 2013 9:38am
5 trades today 3/2....P/L+43 pips
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  • #5,704
  • May 21, 2013 10:27am May 21, 2013 10:27am
I'm going to try these 2 levels on CADJPY, I have 2 limit orders, one for short and one for long.

I was not triggered on the long one even though my entry was hit, I guess brokers widened the spread as they always do.
The supply level is an unfilled gap with lots of strength to the sell side.

The demand level is non-fresh, but it was touch'n go with lot of strength and pair is very bullish, so a second pullback is on my trading plan with such a strong departure on the 1st pullback.

Let's see what happens. Any comments on both trades?
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Set and Forget supply and demand trading community
  • #5,705
  • May 21, 2013 12:00pm May 21, 2013 12:00pm
chart
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Good Trading To All ; Ken Lee
  • #5,706
  • May 21, 2013 4:21pm May 21, 2013 4:21pm
chart , My first short did not like the P A so bailed with aro8nd 12. PA calmed down so re-entered..
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Good Trading To All ; Ken Lee
  • #5,707
  • May 21, 2013 10:28pm May 21, 2013 10:28pm
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A quick scalp with a 2 lot on the 15M

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TP hit

TSD
  • #5,708
  • May 22, 2013 2:22am May 22, 2013 2:22am
OZ out come ,, chart
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Good Trading To All ; Ken Lee
  • #5,709
  • May 22, 2013 2:23am May 22, 2013 2:23am
Quoting Kenneth Lee
OZ out come ,, chart {image}
Hello Ken:

Love your well annotated charts. But what is OZ ?

Thanks

Borg
May the Forex be with you.
  • #5,710
  • May 22, 2013 2:24am May 22, 2013 2:24am
OZ stands for Aussie, AUDUSD

Quoting Borg
{quote} Hello Ken: Love your well annotated charts. But what is OZ ? Thanks Borg
Set and Forget supply and demand trading community
  • #5,711
  • May 22, 2013 2:32am May 22, 2013 2:32am
Quoting panoramia
OZ stands for Aussie, AUDUSD {quote}
Thanks panoramia.

And thanks for your detailed posts on your longer term approach to trading supply and demand. It balances out the short term approaches very well.


Borg
May the Forex be with you.
  • #5,712
  • May 22, 2013 8:35am May 22, 2013 8:35am
Planned this long trade on EURGBP after 0.8500 was solidly broken. The supply on the left was easily absorbed because it was compressed, too much time in the area (not a good odds enhancer), so no good to lean on for shorts, moreover after a first hit the 14th May.

There is a good H4 supply area I've painted in purple at 0.8583, but it's counter trend and not at or very close to D1 supply which you can see with the yellow trendlines. I use the Rectangle Extender indicator I shared with you to draw those higher timeframe areas automatically.

There is new basing being formed right underneath the H4 supply area, not good. Not taking those shorts against the main trend, but it could work. I prefer to lean on the longs and go with the trend.
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Set and Forget supply and demand trading community
  • #5,713
  • May 22, 2013 9:27am May 22, 2013 9:27am
Got triggered long on GBPNZD right now on a H4 demand area right at the distal area of the D1 Demand area... Let's see what happens, my SL is at breakeven now.
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Set and Forget supply and demand trading community
  • #5,714
  • May 22, 2013 9:29am May 22, 2013 9:29am
Oops the movement was so fast that by the time I had posted the message my TP had been reached. I was conservative, 76 pips in a couple of minutes! Crazy!

Quoting panoramia
Got triggered long on GBPNZD right now on a H4 demand area right at the distal area of the D1 Demand area... Let's see what happens, my SL is at breakeven now. {image}
Set and Forget supply and demand trading community
  • #5,715
  • May 22, 2013 11:13am May 22, 2013 11:13am
Quoting panoramia
Oops the movement was so fast that by the time I had posted the message my TP had been reached. I was conservative, 76 pips in a couple of minutes! Crazy! {quote}
Yep , gotta love news when it pushes in your favor... Good deal..
Good Trading To All ; Ken Lee
  • #5,716
  • May 25, 2013 7:47pm May 25, 2013 7:47pm
How to you read candles like these? Big long candles of equal size. Is it a huge imbalance or there is actually a balance? Where then should we place our lines in this case? Thank you for the guidance. Hopefully my picture can illustrate what I am trying to ask

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I want more brain power!
  • #5,717
  • May 26, 2013 2:37am May 26, 2013 2:37am
Quoting cfdtaleong
How to you read candles like these? Big long candles of equal size. Is it a huge imbalance or there is actually a balance? Where then should we place our lines in this case? Thank you for the guidance. Hopefully my picture can illustrate what I am trying to ask {image}
You've answered yourself already.
Quote
candles of equal size
What does it mean? That there's the EQUILibrium of buyers and sellers. The imbalance will occur if price shoots up\down from this area.
  • #5,718
  • May 26, 2013 3:07am May 26, 2013 3:07am
I see...thanks very much!!!
I want more brain power!
  • #5,719
  • May 27, 2013 9:13am May 27, 2013 9:13am
Just enter this short trade stop@54 target@17
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  • #5,720
  • May 27, 2013 11:55am May 27, 2013 11:55am
Exit@27 P/L+16 ticks
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