Im holding a long cable trade from yesterday from 6178…
Just hit 2nd TP at 6280 and planning to hold till 3pm GMT and see what we look like then. Markets looked like they set up a nice clean level to go for here…
2nd live trade on my account, nothing amazing in terms of percentage returned so far, but nice to see this on panned out especially since ive been flat for over a week…
Ive recently moved back up to Uni and tbh lagging behind the PTC by about 3/4 days, but its still nice to see the tools working effectively without ICT holding my hand…
As im sitting on currently 3 digits, ill gladly say…
One Shot, One Kill
took the cable long scalp during LO but had a TP at 1.6295 which was hit…
closed my long because Oanda doesnt allow me to hedge and I have my limit sell order at the big fig…(which I have set on monday) want to be out of my long before my short gets triggered;)
not sure if it is wise to keep my limit sell order open… but I do hope for a bounce at the big fig…even if it turns out to be merely another scalp…
achieved my monthly goal of 4% return/month @1% risk max per trade… next month I will probably upgrade to 2% risk max per trade and aim for 8% return…
would be awesome if my short doesnt burn me;)
cheers
edit1: trade is now risk free;) but a ltf retracement into an NYO short OTE (or higher) could potentially stop me out at BE
Thank you for sharing this. I ve a question to uptdate the spreadsheet. When I am looking at the data of last week of the CAD, I can follow the numbers of OI and the small traders but I have a problem with the other two.
Commercial Contracts in the Spreadsheet: Long:28979
Commercial Contracts in the CFTC: Long: 70866
I am looking at Chicago Mercantile Exchange Short Format: CFTC Commitments of Traders Report - CME (Futures Only)
is this right?
I saw the drop in OI and Seasonal tendency in the futures chart and was looking for only short’s. Overlooked the long opportunity. Though took 30 pips on EU short.
Could anyone tell me what am i missing here ? I was really pissed off today that i missed a text book long trade on GU.
SMT divergence
Asian range OTE and many more confluences to go long.
Despite watching the videos over and over again and taking notes from them and preparing my trading plan. I’m still losing out good opportunities. I’m really getting on my nerves…:mad:
haha dont worry too much mate!
it happens to all of us…
I guess it will improve over time… after one year (actually a bit less) of trading I have what…maybe 2000 hours of chart- and study time?
Still missing out more moves than I catch…
lets see how we are doing after 10’000 hours of chart time…
remember: this is a marathon and not a sprint.
there is always another day and plenty of opportunities to come.
hey man, if you were to look at weekly chart notice the range from high of april 30 and low of june 1, and how correction to that swing went through 90% level, then on daily chart there is potential for a turtle soup above 6300… not that it would have stops from the way down in may/june, but likely stop loss from all <edit: new> selling during the last days of congestion. now with that drop in OI, i would tend to look at it as longs being closed. the few prior days you may notice price up, open interest up and volume up, which ICT said to mean lots of new buying. Drop in OI covers longs but it’s not aggressive selling yet, and there’s the 63 target in site.
Thats a way to look at several things in the context, and i hope my answer doesn’t break any rules of the thread, knowing that we are all supposed to mostly discover things on our own
the other thing i’d like to ask, is there sound to Chris Lori’s webiinar, cause i have image but can’t make the sound work? Thanks Tansen for recording and posting the webinar.
I had been looking at the same thing as you… however I have tried to give myself some kinda filter before i look short in the mid/long term. Rightly or wrongly I was looking for 1.2850ish to break market flow to the downside…after this I would of then been anticipating a HTF ote short. Out of interest look at pricecharts website for the CAD… market flow on the daily now been broken to the upside so I am waiting for an OTE long. But hey, I have been trying to absorb the never ending material for a year and still struggling to apply correctly…now where did i place my consistency…:51:
Oh and have figured how to block certain users posts on here… result!
Nice trade SanJ. Will you be breaking it down in your thread? Looking forward to it if so. But in my newbie opinion I can see an OTE retracement, S1 Pivot level, Strong support at 1.6200 and obviously 1.6180 is an institutional level. Waiting for your breakdown
Yeah its always good to get different perspectives.
One thing that I do get confused about and its regarding what he said about rebalancing and the whole concept of it breaking out then retracing.
I remember Jay/Eremarket mention that once to me saying he loves break outs because he wants to get in on the re-test. Though it was supposed he was a scam artist its strange because this concept was said by lori and it was the same as what jay said the only main difference is Jay/Eremarket/Scott did not have a Higher Time Frame perspective or perspective of market flow. His thoughts were mainly it will retest not break then return to the upper level previously on the swing
Had a revelation this week in terms of higher time frame analysis and the value of it.
Performed my weekly analysis last Sunday night (based on the weekly and daily and a bit of 4H/1H), marked up the chart and the results were awesome!
It really hit home the value of taking an hour or so to mark up the two pairs I watch, based on ICT’s concepts.
Going into this week, I expected a retracement on both pairs after such an impressive run up last week, but was still looking for a push higher if possible (HT still very bullish overall).
EUR/USD:
Nice OTE short right down to the 1.2920 after bouncing off the anticipated levels beforehand (LC killzone).
A long from 1.2925 the higher time frame analysis as the 79% retracement level came in around from one of the “inside the range” levels from last week to the high on Monday (NYO killzone).
GBP/USD (the one I was watching the closest):
Monday OTE long from 1.6220 up to the previous weeks highs then took it out (similar to the EUR/USD) (NYO killzone).
Entered into consolidation/seek & destroy, Mondays high to Tuesdays low for OTE short around the 1.6265/70 level (just after taking out more stops), with objectives around 1.6180 institutional level (LO killzone).
OTE Long on the Thursday after the double tap off the 1.6180 level (I think SanJ took this trade too) with price objectives around last weeks high (1.6250) and above, to the big figure 1.63 (NYO killzone).
All trading done off the 1H chart as well as I dont have the time to sit and monitor the charts all day. Reevaluation after each day was also critical.
I also noticed something else, interesting to note that pretty much all of the entries occurred within specific killzone times. Which also goes to show the value of having a price level in your mind in advance and where you expect the price to go should it decide to run in your favour.
It was a great exercise in patience as well, stalking the levels and waiting for price to react off them. The real reason I tried trading solely off the 1H time frame this week was that ICT mentioned this in one of his recent videos (inside the range webinar maybe?). The results, while taking a longer time to manifest, were more than worth the wait.
I hope my analysis next week is as accurate! Lesson learned on how valuable high time frame analysis is! Massive thanks to ICT and his PTC videos!