Inner Circle Trader's Pro Traders Club 2012 - 2013 Series

I can see the 1H / 4h OTe, But I usually look for a 5m confirmation. Was there 1 that I’m just not seeing? or do you not use that as an entry confirmation?

Its the main point of Michaels teachings, wait for price to reach S&R then wait for retracement into OTE and Go :stuck_out_tongue:

I was stalking a Long.

Came within 5 pips of being stopped out, although now, so far, looks like genius LOL

I did see some divergent, and was imagining it to come back down to me a ote to go long. So I decided to stay out and made an order. Guess what, got smacked in my face twice, instead of making some pips, I got stopped out.
As I look at it now, I once again made a mistake and should have taken into account the “too clean” areas and the bigger range from 16 January up to today. In addition it looks a like a Z-day where both ends have been taken out.
Now looking at cable and fibre, cable failed to make lower low, therefore I think we are ready to go back up north for the week.
Just my opinion, feel free to ignore it :57:

There was an ote (79%) on H1 (Fri high / low) just out of Asia session. However, I supct the big move was more down to rumours that Weidmann was going to resign from the Bundesbank and some vague talk of the Bank asing a couple of other German banks to look at what would happen in the event of a split in the Euro zone. Resignation now refuted as “utter garbage” by Bundesbank!.

Likewise, but I went long @ 1.3280, 15 pip SL, came close too, but 50% off at 30 pips… I think I’ll probably be stopped out, as im now at BE, but I’ll be watching NYO for another chance for a Long.

Some divergence too, lower highs in the USDX, lower lows in the Fiber, higher lows in the Cable (only just)…

Here are my reasons - 2013 Jan 22 Volume Spike

Sorry I can’t maintain my site and post a full analysis and on here at the same time.

I’ll be posting on Twitter, or do you Tweet on Twitter?

https://twitter.com/PPF_Forex

Hi PP, are you using the MT4 Volume indicator?

Perfect analysis although i dont use Volume :wink:

Yes on IBFX, except I use my own colourful take on it, just to highlight the trading zones easier.

Indicators

Yes - in retrospect a Short at the beginning of LOKZ on a TS was a “no brainer”, except my brain was stalking a Long, so missed that big pip haul.

Have taken first TP 30 pips
Final TP 13380

PP, I just can’t see this, the volume increase always seems after the event to me, could you explain a bit more please.

I’m still thinking of the T-Rex during the AS.

Suspect that Fiber may go a lot higher, although I’ll be all out at 13380 due to my other suspicion of a Z Day

It’s the amount of change, a spike, it will always be subjective as everything else, but it’s anything that stands out really.


i would say that you are not far wrong - compare the 2 Asain Sessions - the fibre and Us 10YR price - remember they usually act inverted.

notice the sharp rise in the 10yr WHILE fibre also was rising - this divergence very often indicates a false move, often I’ve seen that the bond market is right.

Also notice the doji on the 10yr up at the asian high later on, guess what time that is - 9.00 -9.15 gmt,
Now check the 9.15 candle on mt4 on fibre - checking my feed in my live a/c - that fibre action was 15mins later.

There were 2 heads up this morning from the 10 yr divergence - the first after AS that the fibre rise was judas and the second was at 9.00 LO that the fall had reached an end.

Yes Sir :smiley:

OK. Thanks I will keep watching.

Well, this was decent, closed out remaining position @ 75 pips.

Its days like these that really illustrate the importance of using a tight SL to achieve big reward to risk.

Trading today:

15 pip SL @ 2% risk.

50% closed @ 30 pips, giving me 2% return.
50% closed @ 75 pips, giving me a further 5% return.

I think we’re going to continue up, but Im sure we’ll get another opportunity to get Long :slight_smile:

Is it just me took Cable long?