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

Fiber Short

Mostly due to boredom, although still consider a good punt - On the JS entered a Short at 12813. Stop moved to 12810, as going out and cannot babysit (this is good:38:), so mimimal risk (ie slippage), although good chance will be stopped out.

TP target 12750, although still suspect that it wll go much lower by late LO tomorrow.

im long from 1.2777, took of some at 20 pips and BE on remaining position. i think the euro meeting on greece will bring some movement. most people probably just positioning themselves and waiting right now, so i wonā€™t expect much movement the next couple of hours. either way, iā€™m aiming for 1.2843 with the remaining portion of my long. if the meeting will bring some bad news i hope it will drive price down to 1.2720 for another nice long.

and something else i wanted to say: iā€™ve been pretty much ā€œin the zoneā€ lately, really high accuracy with my entries and exits (sometimes almost ā€œtooā€ accurate, or a little bit too less. did not get filled with my entry yesterday on fiber at 1.2759 yesterday by half a pip, was aiming for 1.2815, so it would have been a perfect tradeā€¦ -.- on a short scalp on cable later i did not hit my TP by less than a pip again and ended up at BE :/). if i get stopped out itā€™s most of the time at BE and the other times itā€™s just a really small loss for 10 pips or so, thus iā€™m working with at least 2:1 RR ratio atm. something that seemed to help me alot is to just focus on fiber, cable and e/g. before that i was looking at pretty much everything, without really in depth knowledge of any pair. also focussing on the 20, 50, 80 and 00 levels proves extremely useful. thanks ppf for pointing this out a couple of times.

thank you ICT, thank you ppf, thank you all.

I got a short at the exact same position bro. :slight_smile:

Well pretty quiet so far so time for a bit of hindsight analysis and a question.

One trade I was going to take this morning was a long cable at the the sweetspot retrace of the low and high of the AR. Price hit the sweetspot bang on, we are in a buy program (in my view at least) and entry coincided with the big fig 59. So all seemed reasonable to trade it. The reason I didnā€™t take it however, was due to not being sure about whether the AR is ā€˜validā€™ to use for stalking entries and drawing fibs.

For some reason a dark recess in the back of my mind tells me its best not to use just the AR HLā€™s for Fib entries but I canā€™t recall why this might be the case or whether its just something Iā€™ve made up. I seem to think I should be using a H or L from the previous day (at least) along with the H or L of the AR and not solely the AR HL. Can anyone shed any light on this? If not - no probs - next time Iā€™ll not be so reticent as clearly todays action suggests no problem with using the AR.

HI all. I tought i share what it is i am looking for this week. For fibre i am stalking 2 levels.

  1. 1.2720 or 1.2730 i expect something to materialize if price gets to that level. Possibly to upside
    2)1.2880 If price get there then again anticipating some kind of reaction to possibly downside

Was stalking 1.2810 Yesterday to go short and price came up to that level, but i did not take it, no confluence with S/R. Along other things.But it did offer 45 pips which in hindsight seemed like a nice scalp, but i am ok with passing it on. I am trying to mainly watch reaction of market to the levels yet

Hi, can I have the asian range indicator in your chart? It looks quite decent.

I would only consider using the Asian range high and low if it is in and around, or over 40 pips (like the Fiber this morning). And again, usually only for scalps unless the higher time frame dictates otherwise. I think ICT mentioned this in some of his videos (in that 40+ pips may give good entry on a retracement).

Thanks jonnycab - that clears it - that recess is obviously something Iā€™ve picked up from ICT videos.
:slight_smile:

Yeah, looking at the 1 hour it has clear potential to range, but might be better just to have TP a little closer.

About to be take in in to a trade Eur/Yen. Sell limit pending order. at 104.56. Fingers Crossed :smiley:
Here is a Pic of mt4. eur_yen - Mostwantedpipā€™s library

Hereā€™s the problem I have to long from the 1.2800 area, the green price area was worked pretty hard, we could see the same again, quiet week, Z day, search and destroy and all that. Then again it could fly up without notice, ah the joys of Forex.

Have they tipped their hand already?

A few comments floating about on Twitter:

ā€œEurogroupā€™s Juncker sees ā€˜bridge-building elementsā€™ with IMF on Greece.ā€
ā€œJUNCKER SEES ā€˜GOOD CHANCESā€™ OF ā€˜CONCLUSIVEā€™ GREEK DEAL TONIGHTā€
ā€œEurogroupā€™s Juncker says ā€˜Greece has deliveredā€™.ā€

So we got the spike to 1.2830, but not really a reaction youā€™d expect, the EUR/USD basically did nothingā€¦

So are we expecting The Feds talk on Monetary Policy in NY later today be all doom and gloom, causing a rally in the USDX, providing us with a good low to get in for a Long on the Fiber, seeing as weā€™ll probably get some good news at 16:00 when the heads of europe say that Greece is fixed? :smiley:

Who knows :15:

EU press conf is 8pm GMT btw. Would be cool if it played out as you suggest !

yes, a 30 pip TP would have fitted perfectly. As it was, I was stopped out for a wopping 3 pip profit.

Iā€™ll have to have another look at the Take Partial Profits EA(s). There is a lot to be said for taking an initial 30 pips partial profit.

Youā€™ll find indicators on the first page of http://forums.babypips.com/newbie-island/36328-what-every-new-aspiring-forex-trader-still-wants-know.html

Also Iā€™ve done some tinkering with my own www.purplepatchforex.co.uk/indicators/

This is awesome. You got in at the very bottom of the dip.

interestingā€¦ there is a 2-step Gartley formed on fiber h4 at 2830. itā€™s at exact 79 retrace from the last swing low, and inside the zigzag all relationships hold. If this works out, fiber could be in for a long slide.


I saw this too but was afraid of mentioning it as it isnā€™t an ICT technique. The 100% extension was reached to the pip in this weak retracement up. I think weā€™ve seen our weekā€™s high. Watching for a judas or retest of 1.2820.

We also have a massive divergence on the 1H MACD (with my settings) and the Wills%R. This is when ICT says it is okay to use indicators, right at a decision making point at an area of confluence S/R. Not always perfect but in connection with other clues can show the hand of the market maker.

no need to worry man, itā€™s actually an ote entry at 79 retrace, and before it goes down, if so, it would make nested oteā€™s. the Gartley is simply more fibs and good for confirmation.