B.S. Trading with Kenneth Lee

Too funny



TSD

Entered long a 2 lot on a small Demand Level on the 15M



We hit our TP with ease on this trade.



As we can see we are trading the Pattern w/in the Pattern for the long. Price acting like a Magnet being pulled toward the Supply Levels overhead.



4HR show the trend to be down.. BUT !!!



Price had just missed the Daily Demand level. Price has basically stopped and begun to rolled back up. Price failed to continue into the Demand.. Volume basically dried up.. Look at the down candle next to the PIN.. Volume significantly lower than the previous volume as price was moving down into the Daily Demand. I am of the opinion the price moves between Supply and Demand Levels. So as we previously have seen, we can find Supply and Demand levels within this move. The Pattern w/in the Pattern. If price has essentially stopped it's down move.. where would be the next logical place for price to go. We see a series of HL's on the Daily up from this Demand Level.

Lets look back onto the 4HR..We see a 4HR Supply level overhead and a swing low/HL just above the Demand Level. We also see a Supply Level on the 30M. To me, all indications that price should move up into these levels.

Now lets go back the the 15M.. See the 2 turquoise lines around the the Demand Level. Look at the top line S/R line. See how price has moved around this line creating Support and Resistance. We have confluence to the Demand level we have drawn.

The upward trend line in black indicates to me that this Demand Level is the correct level to get long. Confluence ..

The risk was correct at about 10 Pips with a 3:1 R/R to the target = The overhead Supply. We have both a smaller TF and a larger TF Supply Level to pull price up.. ala Magnet. We took the smaller TF Supply as we are trading counter trend.

Total pipage = 60 plus

TSD

Ahead Of FOMC, Morgan Stanley Sold $10 Million EUR/USD Targeting 1.28
Here's the link:
http://www.efxnews.com/story/19311/a...-targeting-128




For all those who would seem to question the use of S/D method. Yes, I know, it's hard to believe. .. . . And selling 10M .. just a small position.. And.. at this level.. Coincidence..??..
If you look at a larger view of the Daily, ( more days in the chart ) as well as the Weekly and Monthly, it is very clear they are trading within the range.
Whether they win or loss is not the point..Where they have entered, placed their stop and target are. The set up is obvious.

TSD

With S/D the RR can be very nice, like this one. I had SL 18 pips the target 140 pips, its more than 7 RR ratio.

We entered long on a 2 lot on the 1M. We see price came down almost to the tick on the lower level of the Demand.



Here is the 5M view of why we are trading in this direction. We are trading the Pattern within the Pattern using a Magnet Trade concept. SL @ 9 pips.. TP is 3:1.... You can we have a Swap Level as I use them..A bit different than KL's but again the concept is the same. This allowed me to find a level to get long based on confluence = Demand Level inside a Supply Level Swap. Higher Lows relative to the TF. Also, I tend to use different TF's to get a better picture and determine levels I can use.



We took profit for a 3:1 for a 2 lot @ 60 pips.. Yes price continued on but that was not the plan.

TSD

sweet stuff buddy. I'm in with almost the same price (slightly better ). Took some off, and holding some.
http://www.readthemarket.com/index.p...-journey#20313

Well done !! ...Good to have some company out here.



TSD

Done. Closed all. Sweet 3R trade.

TSD

Update from post #5783
Morgan Stanley Sold $10 Million EUR/USD Targeting 1.28

Long on a 2 lot first position



Long on a 2 lot second position



Price approaching first target



First TP hit 43 pips



Exited remaining trade 10 pips. Basically price just feel apart.


TSD

Here is a good trade some one got stopped out on . Because of a pre-set stop amount. and not using the method . If your not willing to adjust your position size based on the size of the stop. Then maybe wait for the confirmation of a flip entry. In this case that wasn't much better as far as risk goes ( stop size).

chart

I also had that level penciled in for myself today. Missed my order by 2 pips before going back down.

and

FINAL THOUGHT

Went short 2 positions - 2 lots each.. market was moving fast short ..Took my first TP with a 3:1 R/R.... sorry did not have a chance to snap shot the first position. Stops were 8 pips each position.. 24 pips first TP



Second position still open but eventually price began to roll back up. Price made a HL on this swing. Took my second position TP at a 2:1 R/R for 19 pips



This was a Magnet Trade with the set up based on the Pattern w/in the Pattern.. Shows the pressure to the down side. Price being drawn to the Demand Level below.



Here is the 1M set recap.. The why's behind taking the positions where I did... The use of volume here helps me determine the correct level to trade from and correct entry candle = turquoise down arrows

TSD

Trying to think n the middle of the night not so great.

Entry base on M15 supply zone targetting demand zone. Add some more sell along the way on M1. Overall 90 pips

Hi,
How can i read all posts for only one poster in this thread?
Regards