metatrader
I downloaded metatrader but screen says “waiting for update”. no charts showing up
did u get it and setup a demo account with a broker? strategybuilderfx.com u download meta from their site and reg ur name with them thats what i use not to trade but for charts.
Thanks-I’ll give that a try
Ken,
I think that what your doing is great this truly is a good thread. it very organized very neat and it seems like u have some strategy in how you explain thank you for taking the time to put this together. You use the same base strategy as me altho with a few distinctive differences. What you show here is deff. A+ material tho it is basic but that is the way everything should start. I would like to contribute a little but i dont wanna throw off the flow you have going here so ill be lurking. Thank you also for not being “guruish” everytime i see a thread on BP that says be careful but not to careful… and one asks well how careful should i be … and the guru says be only as careful as you need to be… makes me wanna blow my brains out all over my computer lol
you arent the one who would have to clean up the mess, so maybe another frustration demonstration would be considerate. lol here too.
But on a serious note, I am trying to get a better handle on fibs.
Looking at todays USD/JPY, shortly before close we see a low of approx 95.21, then a hi of approx 96.24 then a drop to about 96. Detween which 2 points would you set up fib. The second span is pretty tight, but that may not make it wrong or irrelevant. Recommendations greatly appreciated.
jaguar1175 Hi Ken
Great thread-I’ve picked up alot. I’ve noticed that you have used the expression “Pin” on a couple of occasions including your previous post. What exactly is a “Pin”.
Also; Am I correct in assuming that when another Fibonacci set up presents itself, you delete the previous one. Or do the lines continue to be relevant.
I will post a chart to answer your querys. Pins are the wicks of candles … They should be 2 times longer than the bodies, The ones I like the best are hangingman, hammer and Shooting stars… Google them as I really am not a expert on candlesticks… and it is a study in itself… But you really should ahve some knowledge of the reversing patterns… It all helps…
Looking at the chart You will see the pins I circled… The ones at the bottom of price are hammers at the top hangman. Thought they look a like they act the opposite at the different price level… At the bottom they turn the price up at the top down…
Let us think about this for a second… look at the candle… The hammer it is trying to make a lower low but gets pushed back by the buyers making the PIN…At this point it is either the lowest point or equal to it. So we look for longs .
The hangman look the same but as they are at the top we pay more attention to the top part of the candle it trys to go up but is held back by sellers. But makes a stronger run down but gets pushed back up. But you have to SEE what is really happening… The sellers have more strenght as they pushed it further down than the upper wick. We always enter straight away on the next open on these signals…
Yes the fibs are always relevant. The higher more so I will post a chart…
Hope this helps… Ken 
I really did not want to get into this type of discusion but I feel I need to give you something for your time… These are trades based off the thread that has taken my time away from here. It is very much a extension of this thread as they only trade price action… I will place a link to it but not sure if it will get removed… Trade what you see NOT what you expect
This is a very mechanical strategy. See this do this… And repeat. It seems that is the hardest thing for people to do. Trust what they see. Anyway after this post . I will only be replying to questions. As I have pretty much offered up most of what I Know…
The section on stops being incomplete as I really don’t have a answer to that myself as I Don’t like the idea of letting a trade run 40 or 50 pips against me to test a trade… When it only cost 2-4 pips to enter a new one. if you have a 80 to 90 percent success rate on your trades. 1 lose equals 10trades to enter. My advice on stops is to learn to enter properlly and then move your stop up as your trade progresses. A stop the other side of a swing level or a 78.6% fib level with a couple of extra pips to spare. Should suffice. But nothing is ever 100% correct. Just never let it run away on you…And always place a stop. Computor problems . internet problems and broker issues , can cost you your acount without stops being placed.
Good Luck and Great Trading to You All. and Thanks Ken
Here is some of the trades I have been studying on the other site I mentioned…Within a 100 pip range over a 3.5 hour period 280 pips were available for the taking. The Key members on this thread target min. 1000 pips a week, One minor member with those good runs this week made over 2800 pips… This is a very agressive style of trading , Which suits my personalty but may not fit yours. I do not teach systems just present ideas for you to use or not… Oh this is the GBP/USD 15 min … We also watch the 1 hr ,4hr and daily for important areas. Her is a link to the thread if your interested… Good Trading Ken Lee
So there you go if you would like to trade this way, Make sure you know your basicis first, The people on this thread have years of exprience and will not teach you how to run your platform and such. Just a fair warning. But if you have a good grasp of the basics it is a very profitable startegy. and the thread is run by some great people. So good luck Ken Lee
Here is the USD /JPY 15 minute chart… Have 2 fibs older one and newer one. The last 6 hours of chart is just consolidation as the week wound down…
The blue arrows show trades off the 50% fib line… also put some of those PINS on there LOL. :p. Also a Previous Price action trade that is also confirmed with a near touch off the old 50% fib level. That was the trade of the day . could have gotten 80 pips there… Th taken the reversing pin at the top for about 50 more.
Hope this helps Ken :D
Any rules of thumb for determining placement of S/R Lines? ie. How many times should price bounce off. How far apart is acceptable. It seems that if you go back in the charts you could fill the chart with lines. I’m sure there must be a way of picking out the best ones. Looking forward to any response I can get
i think that your looking for a way to determine a value and strength of a S/R rather then what defines it… that may be a better question… as S/R can easily be established with two turning points or one turning point and another S/R variable… I would say strength of the S/R line can be determined from the volume the price exhibits at the turning point… your next question is …its spot forex we are not given volume so how do u know? to answer that i’ve posted a graph that i compiled that shows greater than 5 years of data of one hour bars… notice how bar length gets longer as volume increases in the middle of trading sessions… its like this on all pairs and is a way to view volume… turning points established with higher than normal or lower than normal volume is often stronger than point that turn with normal volume… whY? are u saying volume leads price? NO, volume moves price but high volume will act as an attractor some feel and low volume tends to be diminishing supply or demand areas but hooks made with high volume and pushes from low volume against the Trendline trend to create power for the move
ken will probably have a different way im interested in hearing it also. we can learn more from diverse opinions.
Hi, Pipy…
Interesting graph. Please explain it to me. The horizontal axis is obviously hours of the day, but which hours? The upward spike between 9 and 11 on the horizontal axis looks like 9am-11am Eastern (U.S.) time — is that correct?
You have labelled the vertical axis with two different number scales: on the left side of your chart, from 0 to 12; and on the right side, from 0.000000 to 0.004500. Please explain these numbers.
Thanks,
Clint
the numbers down the side are random lol 0-12 but yeah the x-axis is hour and y -axis is bar range during that hour. and yeah its us eastern
This may have been already answered by the others, But I will state my piece. I normally look for Four S/R lines per chart… The top and bottom of the price is one set… Then look for the most Active ones for the other two…
So you would have two resistance lines and two support lines.
This doesn’t mean ther aren’t areas thta might stall or turn price but like you said you can have too many lines… So just put the major ones on. That have turned or held price the most… Then you should always be looking to your left on your charts to see other important areas That may come into play.
But if everythng you have plotted on your charts is taken out , Then you should go to your higher time frames and establish your next area of concern.
It is like fib lines The smaller ones are fine until all the levels are passed then you have to redraw it … same with S/R all you need is what is in your average price range for the times you are trading. When they are no longer of use find the next ones. But try and keep your charts pretty clean . it will help you to see what is actually happening…
Hope this helps if not ask again… Ken Lee 
Thanks ken.
Good response. I can see how keeping the chart rather clean should help “open my eyes”. But when you say that you keep the number of lines down to 4 per chart, including the top and bottom, is that on your 15 minute chart or on the higher timeframe chart you look at to generally pick the lines. On the higher timeframes there would obviously be much more distance between the S/R lines.
Additionally, you said that you try to get 2 lines above and 2 below the current price. Is that a fairly hard and fast rule? I’m thinking of circumstances where, for instance, the price might be at or near the top of the range. Would you squeeze a line between the price and the top of the range? Or is there an alternate way of getting the lines in? Sorry to demand such detail. But I am sure that others might also benefit. Maybe I assume too much. I might be the only dufus not completely getting it.
Just to add in my thought, having previous trading day high low on your chart is a good choice, I have found success having these lines on my chart. This is what I learnt form the Technical Template thread. Hope Kenneth dun mind me poking my nose into here. 
Ray 1
Where is this thread? I know I saw it, but cant find it now.
Thanks