True PA trading using MA's for S/R

KENNETH_LEE · September 30, 2009, 6:36pm

My daily candle hasn’t printed yet. Another 1.5 hrs. But will probablly end that way or close. The only problem with trading that candleis the fact that price might pull backup into the wick of this candle before going short. Even when we trade using the 15 Min chartsWe would enter this candle possiblly with a partial entry so we could add to that order up the wick, or possibly wait for the pullback…

But if you are going to trade the daily your stop would be huge… A better entry could possiblelly be found on the 4 or 1 hr. don’t know what 20 your talking about… More of this will become clearer as we move along we are almost there I just want to give people the benefit to actually learn about wahy we take trades not just jump because of a signal. That doesn’t help us we have to know why and why not to take trades and how to judge risk.

Sorry I am not much help with this .I never trade dailys jusy use them as guides. You can see yesterday where the green candle went doen into the wick before turning up. This is what I am talking about could happen now. You would have to way your risk before taking this trade.

husky_1 · September 30, 2009, 9:42pm

Thanks Ken,
While the stop loss is hight, about 125 pips, the TP is 200+ pips on the initial trade. The good news is, moving my lot size can keep my trade within my chosen risk. Anyway, I closed half my trade for +40, and moved my sl to break even.

Anyway, I will stick to just reading for now.

KENNETH_LEE · October 1, 2009, 3:00am

here is a chart showing how the 50 EMA is the main line on the 15 min chart

Sim · October 2, 2009, 4:50pm

Thanks Ken that chart was very helpful

KENNETH_LEE · October 3, 2009, 9:59am

here is the next stuff

KENNETH_LEE · October 3, 2009, 10:28am

Signals 101

Sim · October 3, 2009, 10:56am

Amazing again Kenneth, thanks

KENNETH_LEE · October 3, 2009, 12:27pm

and more stuff

KENNETH_LEE · October 3, 2009, 1:30pm

To try and make this as complete as possible a trading manual here are the patterns we use the most. The patterns are from this site
Chart Patterns, commodity and stock chart patterns, charting, technical analysis, commodity and stock price chart analysis, stocks, futures and options trading

KENNETH_LEE · October 3, 2009, 1:33pm

we can’t forget the Shampoo

Sim · October 3, 2009, 1:37pm

Wow…study time!

KENNETH_LEE · October 3, 2009, 1:52pm

and one more

KENNETH_LEE · October 3, 2009, 2:45pm

Pa trigger signal

KENNETH_LEE · October 4, 2009, 11:49am

Here is the PA trading chart , The taking of PA trades will come with more exprience. But as you can see it is a combination of a lot of information so it does take a bit of trust on your part. Which you can only learn from chart time.

KENNETH_LEE · October 4, 2009, 2:05pm

PA Summary

KENNETH_LEE · October 4, 2009, 2:43pm

Next… Information pasted from Candlesticker.com plus I added some stuff and hilighted important bits

KENNETH_LEE · October 10, 2009, 12:35pm

Take a look at this if you had issues Friday …The question is Why ???

We have to gain the trust But even if you don’t if you entered at the shown spots as close to the ma’s as possible hardlly any risk stop the other side of the next ma… So really tight.

Plus once we get to the section on covering trades you will see if you can be at the computer during any of these times of day it is possible for you to enter great and have your trade risk free then leave it to work for you.

KENNETH_LEE · October 10, 2009, 3:47pm

Chart for the Hanging Man entry signal

KENNETH_LEE · October 10, 2009, 4:02pm

next Signal Shooting Star, Again from Candlesticker.com

with hilgheted important bits and additions

KENNETH_LEE · October 10, 2009, 4:28pm

Chart to show Shooting Star entry