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

I entered short on EURUSD @1.30567 SL: 1.30740 TP:1.30350

I suck

Welcome to the forex mister fundamental :)))

Is this directed at me? Iā€™ve been calling for higher prices since before the NFP.

My fade play didnā€™t pan out. Iā€™m ok with that.

Im just making fun of mister know it all :wink: dont take it personaly :stuck_out_tongue:

Thereā€™s nothing wrong with this, other than chasing price a little with the entry. I recommend if youā€™re looking to play a fade and miss the best/most aggresive entry, to use a 90% re-trace on the initial or second drop, maintaining the tight stop based on the initial candle. 4 or 5 pips is a lot easier to stomach and recover from than 15.

Iā€™m not trying to be a mister know it all, Iā€™m trying to feed the thread methods of trading that complement ICTā€™s approach.

It frustrates me slightly that the collective is so blinkered on what has been spoon fed that they forego complementary tools that havenā€™t been highlighted or given attention by Michael.

If truth be told, the break of the rising wedge this morning on the Euro is screaming for a re-test. But no-one looks for this because, well, I donā€™t know why. I still think price will drop, but Iā€™m out.

Iā€™m trying to help you guys. As it happens I expect price will most likely drop as weā€™ve hit an intra-day 1.618 profit target, but Iā€™ll let it pass as I didnā€™t play for it.

If you donā€™t like me, then use the forum ignore facility.

Iā€™m not knocking ICTā€™s toolset, in fact I use a lot of it. I just think itā€™s incomplete.

The 3068 down to 3050 was just the MM ā€˜pauseā€™ that ICT talks about in his market makers sell profile video - I gotten to id it by itā€™s ā€˜controlledā€™ nature of a series of lower high/ lower lows and then next leg up (15 min)

Iā€™ve talked before about it and how I used to always get suckered by it until I saw those profile videos.

Zoom out, MMP BUY anyone? :slight_smile:

I was considering the short from 1.3060 (an HTF S&R [S&R trumps all] line Iā€™ve had on the chart for ages now), but when we get ā€œthe pauseā€ I always think of peterma, zoom out, and reevaluateā€¦

EDIT: Also, look at the support that 1.3060 level gave (Resistance turned Support)

Yes, the 5m frame was excellent for the fade, I was using the 15m for targets. No problem, Iā€™ll adjust for next time.

Good old ding dong battle going on - probably why I doā€™nt much trade Fri NY sessions :slight_smile:

BTW higher high now on us 10yr = bearish

I hate to say it, but by scalping this move down, Iā€™m up for the day.

I really am out for the week now. I welcome all critique and advice, I mean, thatā€™s why weā€™re here? To improve?

US 10 yr now at resist - decision time for that - if it breaks up, then more downside fibre, if not the consolidation, that little divergence was good for 10 pips - this is when the the bonds lead - fast moving break up with bonds, down came the fibre about 2-3 mins later - ok if youā€™re scalping I suppose, do see that often.

actually 20 pips :slight_smile:

markets.com. It is a demo account and they occasionally shut it off, but then I reregister with another email account

Now if any you guys were riding that down, us 10 yr came off resist - suggests end of slide - looks like jonny is right about 3060

ā€¦or not? :slight_smile:

1.3030 is my preference. Upside resistance at 1.3335.

Railroad tracks on the 1H @ 1.3060 supportā€¦ hmmmmm :slight_smile:

c13055 is Q1 2012 macro level.

A large two way order is being fed in there after taking out c13100 barrier and defending c13050 for the 10AM NY cut. That defense expired 17 minutes ago.

They are now eying nervous shortsā€¦and about to jump all over them for the London Fix.

GBP 1.5150 option expired at 14:00 GMT. Seeking 1.52 next?

:slight_smile:

Iā€™ll scalp a few pips off that one :slight_smile:

Donā€™t get carried away, scalping is inherently dangerous :wink: