sounds interesting PPfx. Your StocRSI indicator I find of value. Do you ever use it was a trigger to take profits? Below is a trade I took last night (Human time is GMT+8, Server Time is GMT+3)
My entry signal is the first entry into the white box enclosed by the green. ie OTE 70.5 and StocRSI . Got the first and missed the second by less than a pip. Profit target 30 pips, although thinking about using STocRSI with tight trailing stop in future to extend this.
No never, you really canāt use it for anything on the barely related to countertrending.
Interesting to see your feed has gunned the stopsā¦ was looking for that to happen, but my feed never took out the stopsā¦ Interesting but frustrating at times how different brokers have different prices, especially if it influenced the technicals;)
Okay guys, I havenāt traded at all for the past couple weeks. Back into it tonight. Iāll be documenting my trades like I said I would; win or lose.
Currently Iām looking for a long on the Euro around 1.3030, if I get a good entry signal. If not, Iāll probably wait for a retest of yesterdayās or Sundayās low around the 1.3020, 1.3000 level. Looking to nab 20, maybe 30 pips out of the deal before bedtime.
Also - note the 79.65 level on the USDX. Price has retested it 3 times, and hasnāt broken it. If we get a bounce off that level again tonight Iāll be even more confident in my long (also, hopefully itāll give me a USDX divergence with the euro for confirmation on my entry. I guess weāll see!)
As foe the pound, I donāt really see much in the way of exciting entries - maybe a retest of the 1.6000 level could give me a bounce for 20-30 pips. If we break that level, Iāll probably take a long at 1.5985 or so - a turtle soup entry using Sundayās low as the support level
Iāll be back with an update within a couple hours. Weāll see how this goes! (Watch, now Iām going to have a massive string of losses)
Just watched TDPS5 - excellent. Tied everything together in a really clear way. ICT - thank-you. Look forward to TDPS6. Great stuff.
With the bearish momentum in GU atm and also divergence in Yieldās. Iām looking for a short position.
But before i trigger a shor trade, wanted to know something about the stop raidās to build up the liquidity.
As you can see in the chartās, price was shooting down past few dayās, so do we expect a upmove to take out the stopās and then shoot down ?
Update - not enough confirmation for me to take a long trade on the Euro or Pound, and Iām getting sleepy because I stayed up too late. Iām calling it a night a little bit early, and weāll see what New York brings!
Can someone explain to me the current eruo futures chart. Iām not sure what Iām looking at here. When I look at the dollar index in light of OI, COT, and Price it looks like we are in a bullish scenario. Also when I look at the pound futures chart it looks like we are in the process of a continued sell off. But when I look at the euro chart it looks more like were in a bull flag scenario. We had a large drop off in OI in a bullish price movement and price coming down to support. But we see the same thing in the dollar index? This is just taking the futures chart into consideration, but Iām confused by this. Can anyone explain.
M15 fibre attached. OTEs highlighted in blue. Red highlight is the OTE for short. The blue outline square is today London session .
But I did not have any reason to take this short . Does anyone see any entry here? Is there any way you can make out the market structure?
EU hasnāt broken low of yest but USD index did break the high. Same with cable.
But offlate the SMT divergence , Ihave noticed often , ends up being , a non SMt div and u have to take a SL hit.
So does any one have any ideas about something I may have missed here. And no , I am keeping a track of the yields.
Check my posts, I am riding this down on Aussie, fiber and cableā¦
Welcome to PIPHanger bear country USAā¦ I mean GBP/EUR/AUS
How much fun trading is when it all starts coming togetherā¦
I must not attempt to catch falling knives, I must not attempt to catch falling knives
Ahh yes, but you can actually make money trading them!!
When you get a classic falling knife, you can find the the lower trendline keeps getting hit, now if the lower highs are say 30 pips or more higher, i.e. the range, you can scalp off the bottom pinbars, take 20 - 25 pips, maybe twice, then you can consider a third, but then youāre looking at a much lower probability trade.
But really I would advice against it, and I donāt trade them anymore, because Iām usually at the other end of the market. It was just a case of trading from observation, you see a pattern time and time again, do the same over and over again.
Ok, trading the big numbers, shame I werenāt trading today.
Iāve tried to put it all in the image, dots are MS, blue lines illustrate the general trend, Iāve coloured in the daily chart (using GIMP, Iām too poor to afford Photoshop :D) , and Iāve done it on Oanda chart, thatās just an indicator free thing.
So the entry, pinbar rejection back up just after the initial, still a tight stop to the previous short term high, last red dot MS, didnāt make to the 80 level and MS has turned bearish, bounces off the 20, doesnāt make it to 50, market structure has become nice and bearish, Big candles, small wicks stay in the trade, and back to the 2900 level which has been a real favourite over the last few weeks.
Oh, and this stop hunting thing, itās poor term, but I still like it, and this is by no means a detailed description and itās never just one trade, but look at it from this point of view, if weāre going from a big number to a big number, like in this instance from 3100 to 2900, so youāve got BAE systems with an order of 5000 planes they want to buy, so theyāre trading @ 3000 say, that transaction needs to be filled, it will never get filled like we do at the 3000 level, it might get filled from 2900 to 3100, thatās the range that it will get filled at, so on itās way down to the 3000 level, orders will be matched at the 3100 range, which is 3120 to 3080, price on itās way down, past the 80 level, tries to get back up to the 80, but what happens then, no more orders can be paired so down it goes, and 'mind the gap on the way down 
.
Can someone show me on there charts where market structure turned bearish on a daily or weekly chart. For me market structure changed today on the cable to bearish when it broke 1.5970 major swing point. And on the fiber market structure is still bullish until it break the lows of 1.2820.
Did i miss something is my feed wrong cause it seems on this forum everyone was bearish days ago even last week. I know market flow has been bearish for a while now on both pairs but am i missing something can someone please explain? As i have been hunting longs this week and getting nothing
Iāll do the EURO for you.
No clear market structure, the last red dot, could be a green, so we could be looking at a bullish structure or a bearish one, but if you look at the red blob (technical term), you see 2 things, pinbar rejection, a bearish sign, and also fractally? a high with a lower high on either side a further sign of bearsishness.
Also itās worth taking this trendline into consideration, it could be significant.
So all in all quite a mixed picture, it will become much clearer when the next swing low will be established.
thought you might want to know if you donāt already ICT and Chris Lori presentation on the Chris Lori site
4h showed us a lower high, but the last high before that was higher high. what is market structure?
