I don’t like giving advice because that would be like being led by a blind man, but around news events I am always unsure.
Yes, I was looking for a spike higher as people franticly bought up whilst the banks thanked them, took their money, then turned it around (that’s what I’m hoping for… we’ll see). Had it retreated lower I would have let it go. Another one of ICT’s concepts. It doesn’t matter if it gets away, there are always more.
I’m currently in the same trade and it’s my first live trade EVER so fingers crossed! Tempted to just take my 14 pips and run but trying to at least wait until we get to 2880. This 1.29 level is making me kinda nervous though…
Been in the short fibre trade and still holding onto it and i din’t see any move cause of Ben’s speech…Is it postponed or something ? Or was he just numb ?
Tuesday’s data is released 3 days later on the Friday, so your chart is missing a week of data which will show commercial net short extremes compared to 12 months of data. If you look at the US dollar index, it’s unclear which way things are going but keep that COT on your radar because it COULD be a sign of USD strength.
Possible long for EUR/USD around the 1.2840 level.
Last week, we bounced off this level quite a few times and then progressed to the upside quite nicely.
Similarly this morning, big drop off during the asian range (signaling a potential buy day), we hammer up through the 1.2840 level during LO, retest it again (twice on the 15M chart) and shoot off quite nicely towards the weekly 63% level (most of you guys were getting short here, keeping in sync with the recent bearish trend…)
Note where the OTE lies from the current price swing up (around 1.2843 or so) … Could be something worth watching… Thoughts?
Im more interested in the GBP/USD pair currently (seems to be more predicable at the minute), but this is something I’m watching for on the EUR/USD, despite being bearish overall. Just thought that level may be quite significant considering the price action around it… (will be hunting shorts after todays price action until we approach this level)
Thanks for highlighting that stop raid on the Cable yesterday in your latest vid ICT (post US ISM Manufacturing news). I just wasn’t aware (was concentrating on the fibre) of those clean stop raid levels and it makes a lot of sense now.
Under normal circumstances it wouldn’t be, because it’s neither in the buy or the sell zone, and today it is in line with the Asian session high, retracing there after a Judas swing upwards… Doesn’t look ideal for a buy, but stranger things have happened!