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 wonāt expect much movement the next couple of hours. either way, iām 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: iāve been pretty much āin the zoneā lately, really high accuracy with my entries and exits (sometimes almost ātooā 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 itās most of the time at BE and the other times itās just a really small loss for 10 pips or so, thus iām 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.
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 didnāt take it however, was due to not being sure about whether the AR is āvalidā 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 HLās for Fib entries but I canāt recall why this might be the case or whether its just something Iāve 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 Iāll 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.
1.2720 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
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).
About to be take in in to a trade Eur/Yen. Sell limit pending order. at 104.56. Fingers Crossed
Here is a Pic of mt4. eur_yen - Mostwantedpipās library
Hereās 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.
āEurogroupās Juncker sees ābridge-building elementsā with IMF on Greece.ā
āJUNCKER SEES āGOOD CHANCESā OF āCONCLUSIVEā GREEK DEAL TONIGHTā
āEurogroupās Juncker says āGreece has deliveredā.ā
So we got the spike to 1.2830, but not really a reaction youād 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 weāll probably get some good news at 16:00 when the heads of europe say that Greece is fixed?
interestingā¦ there is a 2-step Gartley formed on fiber h4 at 2830. itās 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 isnāt an ICT technique. The 100% extension was reached to the pip in this weak retracement up. I think weāve seen our weekās 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, itās actually an ote entry at 79 retrace, and before it goes down, if so, it would make nested oteās. the Gartley is simply more fibs and good for confirmation.