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

Jonnycab, could you explain why you entered long on fiber today? (Traying to pick your brain;) ) Btw, Amazing that you are soon to double your account!!

Sat - good indie that - should post a link :slight_smile:

Whoaa anyone else see that move down on the fibre? Created USDX/Fibre divergence on 15 min - Lower lows on fibre, lower high on USDXā€¦

Start of the week analysis, identified 1.3060 as a possible level of resistance (old noted level + old lows + friday AR low + OTE zone of current range) and a likely upside objective if we move higher first. Loads of resistance on Monday around 1.3020. We break through last night [resistance turned support]. We pop the stops around 1.3043, creating a new high. Initially Im thinking turtle soup, but we dont get much of a reaction downwards. We worked the 1.3020 level quite a bit. I would expect it to offer some support and maintain. Thats why I got in around 1.3030 [as price was wavering], it was also in the OTE zone from AR low -> new high, with a 20 pip SL. Enough of a buffer below 1.3020 should we retest and push higher.

An interesting thing I noticed about that move down at NYO to create divergence was a fib OTE long from key price 1.300 and high of the day!

Anyone in for the ride down? Might try and hold this one all week, assuming weā€™ve made the highā€¦ Will be waiting for confirmation thoughā€¦

Stops @ BE, closed a porition around that 1.3020 level, important levelā€¦ I want to see it break down quite a bit before I decide to holdā€¦

Looking reasonable so far, Id like to see 1.2980ā€¦

Beautiful 80pips on Fiber and Cable

Just stopping by and say ā€œhiā€. I havenā€™t been in this thread for a weekā€¦

I havenā€™t place any trade this week ā€¦just waiting on the side for now.

There is nothing wrong taking on less trade. Less is more sometimes. Trade base on Quality not Quantity.

However if the reason for you not taking more trades because of fear of losing, reducing your capital, and taking back the profit that you have made previously, it is not a good excuse for you not taking on trades. I am sure everyone is on your shoes from time to time. We all feel that at some point but as long as you follow your trading plan/rules you should be ok even if it is not bringing you any positive result. Trading plan/rules is there as your guide. They are like your business plan. If you donā€™t have a business plan, you are trading blindly. So, stick on your rules no matter what to help ease a little bit of your fearā€¦It is part of psychologicalā€¦Just my thoughtā€¦ :slight_smile:

Well looks interesting:


  • USDX stands on daily OTE, can today be bullish day for Cable and Fiber?

Had a buy order at 1.3014 for fibre last night ā€¦ woke up this morning to see it got hit and now sitting at 1.306! Lovely!

I actually envisioned this week to be a stop setup for fridayā€™s NFP stop hunts.

Despite that I may have to take profit on my positions early since I personally believe we maybe in for an upside soon

Speaking of kill zones: (@richard87 and rest)

Hereā€™s why I didnā€™t trade yesterday:

My Bias was short, and my rule is look for enterances during kill zones, LOKZ or NYOKZ. Unfortunately, there were no entrances, perhaps in LO but it wasnā€™t like an ote confirmation, just a high. All the Kill zones seemed to show entries for Longs but that was against my bias.

So I didnā€™t take any trades.

Also narrowing down my trading to just kill zones. I think Iā€™ll be more efficient this way, rather than sitting 5 hours in front of the computer, you can concentrate trading for 1 hour looking for spots and if you donā€™t find any then study long-term bias.

What do you think?

You know killzones have a 1hr buffer on each side right?

Lol I read it was just these XD Really? So what times would you write out for kz?

I mapped 7:30-8:30 LO
11-13 NYO

I use 07:00 - 09:00 GMT LOKZ and 12:00 - 14:00 GMT NYOKZ

As Tansen said, 1hr buffer either side of these if something youā€™ve anticpated is playing outā€¦

Awee thanks guys :stuck_out_tongue:
^^

someone taken the short at 1.3060 OTE?
didnt like it because AR highs werenā€™t gunnedā€¦ still flat and my limit orders still untouched.

I got in short at 1.3059. On my feed the 0600GMT 15M candle just popped above the AR by about 2 pips so I took the short as the next 15M candle was bearish (sort of as a confirmation). Looks like Cable was the better one to be in though

Does anyone look at divergence between USDX and USDCHF? On H1, USDCHF is making higher highs while USDX making lower highs. Could signal a drop in USDX to come