Gaaaah! I’m sooooo tempted to sell the Cable again! :53:
If the Fiber would just break the high it set @ NYO that would be a bearish div again… with a nested OTE
USDX is banging on R1 pivot, it wants thru.
Feels like the calm before the storm again…
itchy trigger finger here lol!
Frustration, frustration
I read a report on Tues past, I think by Deutsche Bank that they expected a bullish euro Friday, reference repayments due to ecb by various EU banks.
Then last night I watch ICT’s video - he’s saying he expects a bullish fibre soon.
All signals were saying BUY BUY, but did I get an entry?
Slept in (literally) and rules are rules - no chasing price - so waited for good entry set up with baited breath - finger on the ‘buy’ button - what did I get? - a sore finger.
Ah well, off now to a nice dinner and bottle of wine and forex for another day 
That entry yesterday morning… ~200 pips… oh well 
It’ll happen some day 
Having said that, I doubt I would have bagged 200 (I’d have taken all profits at the noted 1.3380). I try to hold for the daily range if possible (closing around 16:00 GMT or so) or set final TP @ the closest higher timeframe level of support/resistance and then I’ll look for another entry the next day.
This is why I had no trades at all today. None of my usual signals I’ve been watching/waiting for were popping out, even though after that rally up this morning I wanted to BUY, but as peterma said, no price chasing. If that results in me missing out, then so be it.
Charts for this weeks trading (click for a bigger image):
Entry Rationale:
I used pure S&R for my entry on Tuesday, we’ve been bashing off that 1.3280 level for a long time now. This is also why I used such a tight SL, either we’ll get a really nice tight rejection or we’ll hammer right through it and keep pushing lower towards the 1.3250 level. Same idea for the LC trade.
I used the OTE from the Tuesday low to the Asian High on Wednesday for the LO trade on Wednesday, SMT divergence was also occurring between Cable and Fiber, I used this as a confirmation. Lower lows on the Cable, Higher Lows on the Fiber.
I thought the trade on Wednesday was gonna let me TP @ 1.3380, but we had more divergence occur (higher highs/lower highs), so I closed it out early.
Missed the move on Thursday unfortunately (wasn’t at my desk + no limit order placed) and then Friday, we just ran up all day, no “obvious” signals appeared, so I was flat all day.
The main point of the chart is the higher time frame levels, so reliable its unbelievable… Of course how price gets there and whether it allows us to join in is another matter entirely!!
Ahhh well I didn’t get my sell signal in the end so all my hype was over nothing :20: Ha ha!
I have to say though this last week has definitely been my best ever, 170 pips according to myfxbook (not that I’m bragging) after three years of groping thru a foggy maze of data it’s starting to come into focus & the scales are falling off my eyes!
I also think I’m finding my own style as short term “hit & run” intra day type.
Thank you ICT!!!
TWYS! 
Yep - it’ been a good couple of weeks , thanks to ICT’s teachings, but also in no small measure to all you thread posters with your ideas, your encouragement, your anaylsis, your past trades, your live trades - I said recently when referring fibre ‘the only way is up’ - well that also applies to our trading.
Can these tools be applied to other currencies?
Yep, I believe a few on these threads use them for AUD/USD as well as some of the Yen crosses (GBP/JPY, EUR/JPY)
Thank you Jonny.
How is your trading going?
No problem.
As for the trading, slow, steady and most recently, gathering some consistency.
Slow, because I try to limit myself to 3 trades a week max (I’d have broken that rule this week if I caught that move on Thursday!) and wait for my anticipated setups to unfold (patience!), adjusting my bias/premise should the need arise, steady, in that I’m paying attention to my rules/trading plan (still making some adjustments, but I think its pretty close now), and consistency (the most important aspect and a result of the other 2), I’ve had positive returns for a few months in a row now (from just a few percent to quite a bit more, like this week for example).
I can attribute any progress to the mentoring from ICT (his material has taught me how to trade and I’ve “clicked” with it - ofcourse not everyone will), along with the discussions/thoughts/ideas posted up here by the BabyPips members have also really helped, especially with my own analysis. I’ve picked up plenty of ideas and things to watch for by looking at what others are doing or have done.
I think we will see the 1.60 figure on the cable next week. Ill be getting short again if we do. Otherwise I’m not trading.
If Monday is bullish ( very possible, even probable) then a 3 bar swing is formed on the daily.
In such a circumstance I would look to buy on Tue below the Asian range high on some sort of a buy set up.
Mind you - I do’nt trade the cable - yet.
Hi all,
I am wondering if there may be anyone that might be able to help. I have seen the USDX on MT4 charts and ICT has done a screencast showing how to do it, however, the two platforms I run (IBFX and GoMarkets) seem to not have USDX as a option even when I select to “show all” in the market watch window.
Does anyone have any ideas how to get USDX as an option in there, or if something can be installed into the MT4 to get it. As a last resort, what other MT4’s etc do have it as an option??
Thanks all
Forex LTD has the USDX
It also has EURX, unlike most others
I set up my profile as below. ie easy to id divergences on all four- USDX/EURX and Fiber/Cable
I only use H1 and H4
Is anyone aware of an MT4 broker that provides US, GB and German Bond charts? I’m also looking for an MT4 broker that provides the gold price in USD and Euros, as well as GBP. I have found one that provides Euro and USD Gold, although not GBP.
Currently I am using IG Markets ($1 in Live account LOL) to chart bonds, sometimes Bloomberg. Life is complicated enough already. I prefer to keep as much as possible within MT4
All above only for the purpose of Divergence analysis, not live trading, so unlimited demo preferred.
Your broker needs to have a feed for that if I’m not mistaken.
It is possible to create a USDX chart from the feeds that comprise the USDX ie
Euro (EUR), 57.6% weight
Japanese yen (JPY) 13.6% weight
Pound sterling (GBP), 11.9% weight
Canadian dollar (CAD), 9.1% weight
Swedish krona (SEK), 4.2% weight and
Swiss franc (CHF) 3.6% weight
There is a ‘synthetic’ USDX Indicator available although I’ve found it far simpler to just use Forex.LTD and set up profiles as posted previously.
Not that I know of. Why didn’t you like the indicator?
The USDX indicator (numerous available - Google it) did not have the features of a USDX feed. eg Line chart only, although some do an attempt at candles. Also my feed does not contain the Krona.
edit: USDX indicator attached
USDX.zip (2.64 KB)
Sorry for dumb question but what is EURX?