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

Short from 1.3007 :slight_smile:

OTE from the newest range on 4H from 5Oct high - 11Oct low.

congrats.
during NYO I will see how things lookā€¦
for now, 1.6050 and 1.2930 look tempting for a reversal (if there is oneā€¦)
Proud that I let this one go even if it would have made me moneyā€¦ happy because I sticked to my rules;)

Ok, all you guys that have been shorting the EURO, you should not be congratulating yourself on any pips you got, at best you should be going, phew I didnā€™t make a loss, it was playing with fire.

What is your target for EU?

Iā€™m not in a trade, and at the moment I donā€™t intend to be in the near future.

Patience, patience, patience.

OKā€¦ are you waiting to go short?

Iā€™m waiting 'till I get a clearer picture. :smiley:

You might want to consider Turtle Soup off of the 20 level, that would be the short setup, but the market is bullish, remember all the higher lows.

Yes thanks. Thatā€™s my target. Also because of TL 17 Sep / 5 Oct and significant/ institution 20 level

this little spike south in cable was actually an bull OTE from todays low to highā€¦ but didnt get inā€¦ want some clearer signals and I want them during Killzones please hahaha

We now have USA CPI imminent, so wait.

Possible long on the cable from 1.6080, lets see what NYO brings :slight_smile:

That 1.3000 level looked really promising for a 20-30 pip scalp, a bounce in other words. But looks like it did not materialize. However its best to wait for a long signal to get in sync with market structure.

Iā€™ve started to investigate the use of Thomas Demark Trendlines (sometimes used by Chris Lori) as an alternative method to assist is removing some subjectivity from identifying the trend and the points from which to pull the fibs to ID the OTE.

Description and MT4 indicators at #6 Tom DeMark Trend lines | Forex Strategies & Systems Revealed

Examples on the current Fiberā€™s price action are :

Daily


H4


H1


itā€™s relative to timeā€¦ thats how subjective perception of time works, part technical part psychological (did i spell that right?) if one is to consider the highest high and the lowest low in the entire life of an instrument, thatā€™s a pretty large time frame, in that time frame the instrument is always in ā€˜rangeā€™. If one is consider the tiniest timeframe, like a superminitick frame if that was to exist, then price would always be breaking out and trending. itā€™s kinda philosophical and the examples extreme, though it shows that price is at any one time both trending and ranging, and the option is more on the timeframe where we choose to do one thing or another.

seems to me notion of fractal is part of the same family.
donā€™t know if this could help, but the comment on the 2 strategies triggered this one :slight_smile:
good trading!

haha yes I was already expecting a comment about fractalsā€¦ and that price is always raging and trending depending on which timeframeā€¦ thats why I chose to write: ā€œ(lets say in H1 timeframe)ā€

You are obviously right.
What my question comes down to is something like this:

during analysis I am obviously focusing a great deal of time on the HTF, but during Killzones I am mostly looking at H1 or even M15 if Im looking for an entryā€¦ Now considering these timeframes, lets say again the H1 for example, I am still trying to figure out which of the tools are working best in which market environment. Once I have that knowledge I know which signalsI need to pay extra attention to, and which I can disregard for the time beingā€¦

ICT already stated during his last trading plan installment how he would advice to set up our charts - what we should look for at each timeframeā€¦ and while I didnt setup my charts according to it yet, I found the info helpfulā€¦
Still, before I enter a position, I normally ask myself what speaks for this trade and what speaks against it.
Lets say I am about to buy fiber, but price is in the sell area of the weekly TTā€¦ Is the weekly TT a strong signal at that specific timeā€¦ strong enough to stay out of the trade? or is the TT at that specific moment a signal I can neglectā€¦
this is basically what I was wonderingā€¦

I am sure that over time I will know automatically which signals will work best at any given timeā€¦ until then my curiosity will continue;)

haha
cheers

did you take it?
Im still flatā€¦ expected a bigger retracement downwardsā€¦ thats why I didnt take that OTEā€¦

Yeah man, I thought it better to start trading with the trend :smiley:

But with limited risk, 1%. TP @ 1.6120 (a predetermined level marked during my weekly analysis)

ICTs concepts are really blowing my mind. Been trading with them for about a month and a half solidly now (no other techniques mixed in). The results are more than impressiveā€¦

This looks like the move to be in today. Way to go! I got up a little late to catch it and was considering a short. One of my rules is to not take a trade if it looks like one has set up already in a particular kill zone. This has kept me out of trouble many times. Anyway, nice going. :smiley:

ICT as a mentor do you feel that you are giving a full 5 stars?