Back after 2 months off due to rl stuff. Wow, 3k+ views! Not bad, heh. Noticed strong resistance on the GBP/USD dailies at around 1.53000. Set a buy stop at 1.533 with a S/L at 1.51500 and T/P at 1.57500.
If anything I’d be looking at a short, the pair are breaking out at the bottom of the 55 day price channel and Ichimoku show no sign of an end to the down trend
You’re right, I’m embarassed to admit. I’ve been playing the game of “hoping i’m right” which is terrible. One of my big problems is i cannot draw trend lines due to my disability. Any thoughts on indicators that may help? I use EMA/SMA and fractals, but that’s all right now.
I don’t use trend lines very much. I do a little discretionary trading, but mostly mechanical.
I use cloud breakout on the Ichimoku chart to enter a trade with a stop on the other end of the candle that has left the cloud. I then look for a crossing of the Tenkan-sen and the Kijun-sen as an exit signal. If the trade is running successfully stop is moved to twice ATR (40) once it is past my initial stop (calculated every close). This method has many false breakouts, so keep the stop very tight for the 1st few days.
I also use a 55/20 channel system - made famous by Richard Dennis’ Turtle trades. Again I keep the stop tight initally, and then once its running I give it space.
I also use Courtney D Smith’s Conqueror system. Buy his book to find out how that works.
Quick update for very different S/L and T/P points, again GBP/USD daily chart. Short trade was entered at 1.5334 with S/L at 1.5344 and T/P at 1.5871, based on Fibbing the fractal point on 12/29 to the fractal point on 1/3. Thoughts?
Edit: Loosely based on ICT’s intra-day trading video 
That is not a video of ICT’s that I have watched, but I’m still thinking a market making lower highs and lower lows is in a down trend, especially when it has broken through a longer term support line at 1.54.
1.54 has been the fuzzy support line since August 2010, so it may be just giving it a good test, or it could be breaking through.
Lost my last trade, currently long at 1.544 with S/L at 1.54 after 2 upward heading trading days.
Long EUR/USD at 1.298 with S/L at 1.294. Entered based on similar pattern on the GBP/USD daily, both seeming on a retracement.
Ended my week up 137 pips on the GBP/USD chart, letting that run. Also, eager to see if the EUR/USD stays bullish over this upcoming week.
Closed my GBP/USD trade due to my believed end of retracement. Pocketed around 100 pips, so I’m happy with it. Still have the EUR/USD trade awaiting triggering…