Ode to the Journey

Dude thanks… IT WAS AN AMAZING TRADE FOR ME. lol It came at a good time… Needed to see things line up for once. haha Now to do it again… :wink:

First trade of the week… Shorted EURUSD at 1.24669 waiting to take half off at 30 pips.

Took half at +30 then got stopped at break even during New York Opens retrace. It formed a beautiful OTE. I thought this might happen. Should have adjusted my stops accordingly. O well. 1% in the bank anyway. :wink:

Sold cable at 1.5400.
The only thing I don’t like about it is its later in the New York Open kill zone. But it has everything else going for it. Ill try and post pics later.

Really sick trade man! Is that SMT Divergence on MT4? How did you manage to get that? Just curious, thanks!

Thanks man. Moral of the story is its better to be lucky then good. haha Yeah that’s on MT4. I think the indicator is called ICT_SMT. I tried to upload it for you but it wont for some reason. I think it might be on one of ICT’s threads.


Everything looked really good for this one. It was during New York open.
It was an ote that fell right on a fig as well as Thursdays Asian high. It was also right on m1 pivot.


This image should explain itself… :wink:


As you can see where I shorted was a good support turned resistance on the daily… This was probably the biggest factor that made me short. The fig extension is an after thought… That’s were my final take profit will be if we make it that far.

I’m hoping to take half off at 1.5350. I know its kinda an aggressive tp but i’m tightening my stop so that if it does go against me at least i wont loss anything.

Took half off at 50 pips. I think its going to move down a lot more. :slight_smile: My stop is at break even.

Update: Got stopped out. This trade was a little sloppy… But 50 pips is a win so I am happy. Wouldn’t mind looking for another short at London. We will see. I sure don’t want to give any back.

Just bought fiber at 1.2500. Its a nice ote on the 15. It has some sketchy looking smt diverggence as well… I’m expecting to see move up before a hard push down… we will see.

Update: Got stopped out.

I know all you battle hardened fx traders will probably laugh at this but I’m posting it anyway because I AM STOKED! HAHAH


If anything its just encouraging. Thanks Mike!

In other news my account is still down about 6%. I am seeing progress though… slow and sure.
The other thing that I wanted to note is that I really haven’t been posting weekly market reviews. What I have been doing is looking through the charts and getting a kind of game plan in my mind then leaving those charts up for the whole week. Its kinda a pain to go through and write a post and take screen shots and all that jazz… SO… going to try and start posting those more. Its easier to post individual trades because I’m bored while I’m sitting there managing it (Watching price move).
So look to see more of those pre week reviews.

I would also like to add a few more of ICT’s tools to my box of tricks… Here are some of the things I think I am getting good at:
[ul]
[li]London open kill zone
[/li][li]Fib extensions and retracments
[/li][li]Trading the fig
[/li][li]Pivot points
[/li][li]Market flow
[/li][/ul]

Here are the things that I really need to work on:
[ul]
[li]COT report (I know I promised these a while back but I never did get comfortable with them)
[/li][li]Bonds and Bond overlays
[/li][li]Turtle Soup
[/li][li]Swing Projections
[/li][li]New York Open Kill Zone
[/li][li]Market Structure(this one is tough because it can be very subjective)
[/li][/ul]

This was all from the top of my head. Hopefully in the next few months Ill be able to check these off the list one by one.

Update:
Last week I watched the New York Open wed through fri. :slight_smile: I didn’t take any trades… this is a new session for me so I’m working up to it. I was pretty happy because I did see a pretty good short signal on Thursday that would have worked. This week my game plan is to look for shorts although I wouldn’t doubt if there is a strong move up to fake people out during the start of the week. Here is to a profitable week! :57:

I bought cable. Crazy I know because everyone is so bearish… lol


If I was smart I would have bought at 1.55800 BUT like an idiot I chase price a little and bought at 1.58877. I think it will work out anyway.

I took the trade because its an ote for the cable. There was strong smt div. Plus the fiber gave a nice reflexion pattern right on top of a nice turtle soup pattern taking out the low of yesturday…

I am going to take half off at 25 pips then let the rest ride. I normally hold for 30 but like I said I didn’t get the best price when I bought. lol

Update:
Just took half off letting the rest ride at break even :slight_smile: Now off to work

I bought cable today at nyo at 1.5537.
Got stopped out.

It was an ote that formed after a small bounce up… Looking at it from hind site I should have shorted the high of the bounce because it formed a perfect reflection pattern. o well, I wasn’t up that early anyway. lol

Here is a screen shot. Red line is where i bought… green line is where I should have sold. I think both were actually good signals…


One thing that would have helped me in this trade… besides looking at market structure and market flow, is I should have had the 1.5500 level noted… Price was reaching for that level. It will be interesting to see how price reacts around this level…It would have been smarter to wait till It got there before I took my long position just because I think it has a stronger likelihood of retracing from this level. The level that I took for a long was a decent signal but it wasn’t at a strong enough level to stop the fall out of bed the cable took.

No trading this last week. I was busy with 4th of July celebrations. This next week is going to be pretty busy as well. Not sure that I will have time to look at the charts.

AAAAaa… Feels good to look at the charts after a two week break! Here are some things that I noted on the higher time frame that I will pay attention to this week.

USDX
On the daily we saw a strong reaction to the 62% retracement level… Will it continue down? Will it retest? Will it break that level and test the 79%? I’m going with the third option but Will be sure to keep the others in mind as the week unfolds.
Market flow and structure are up.


Euro
I’m expecting for the euro to move down a little more. I think it is reaching for some fib extensions as well as a confluence of weekly pivots and some support and resistance…
Market flow ans structure are down.


GBP

The pound is in the middle of two nesting otes. I Believe it is getting ready to move up although it may be in the middle of an accumulation phase… It may range around this week before it moves.
Market flow and structure are down. On the 4 hour market flow is up…


Last but not least there is some strong smt divergance on the daily. This is a good indication that its about to move up. Out of time at the moment but ill try and get a chart up this afternoon.

SMT Divergance


WOWZERS! Its been a while since I posted in my thread… Haven’t had time to do much with my trading lately.
Just bought fiber at 1.2300

Its a big reflexion pattern with a small nesting ote on the five minute chart. I had a buy set on cable as well (1.5611) but because I bought Fiber I might cancel that order.

Fiber:


Reflexion Pattern, Big Figure, and Pivot S1

Smt Div.


While I typed this up my buy on the cable was triggered as well… lol I actually prefer the cable trade so I’m keeping both. I am risking less then 2% with both open positions so risk management is all good.

Cable:


Ote from yesterdays range, Weekly & Monthly Pivot, Daily s1, as well as a couple Asian ranges from previously this week.

UPDATE:
Both trades got stopped at break even. The cable trade was about a pip away from reaching my first take profit before it tanked. On the bright side I didn’t lose a thing. :smiley:

Been a while… Things have been busy here and haven’t had the time or discipline to trade… With all the stuff that ICT is pushing right now I really need to be trading live so I can compare it to his daily/weekly reviews. I’m actually kinda annoyed at my trading… I am sticking with pretty tight money management. This has kept my draw down less then 10% (i’m down 9% right now). This is a positive in a way when most newbies blow there accounts out so fast… on the other hand my balance has been a steady decline. So the one and only saving grace is that I haven’t had a trade lose more then 2%. This is good i guess but its boring me. hahah I feel like I need to start risking more so my account actually goes somewhere, be it into the green or red. This thinking is dangerous I know. Anyway, I’m sticking to my boring money management and keep chipping away. Hopefully i will see some nice wins so that I’m in the green and things become a little more interesting.

Just sold cable at 1.609. I think it is reaching for 1.61. I like this trade but I am worried because it is Friday. My risk is cut in half and Ill be moving stops at 25 pips.

Got stopped at break even on that last one… I am now long fiber at 1.31009. Waiting to move my stop. I would like to ride this one up too 1.315… I like the way the fibs line up on this one but price action has been a little wild today so we will see if its actually going to go anywhere or just whip around and take people out. Kinda looks like a z day… almost.

Edit: Closed early. I think we are going to shift to the down side for a while… looking for shorts now.