Thanks ICT, glad to hear from you…and, I will 
Hey Mac Donalds!, I’m lovin’ it!
This is a set up that unfolded in the cable today and like this one, there are plenty every week for us to trade. It’s like the market stares at you and screams “here’s the money, come and take it”,lol.
Ok ok too enthusiastic I know, but it’s been two incredible months trading this.
Trade set up:
Multiple confluence of events:
- Recent support area.
- Previous day low.
- Previous week low.
- Fibonacci level.
Reasons to pull the trigger.
- Strong signs of accumulation confirmed by VSA and Smart Money Tool.
Entry after candle close at 1.4395
Stop loss at 1.4365.
Profit target: 1.4500 Well generally I left one or two pivot levels to fill, depending on other strong support/resistance zones interfering with price and the daily average range. In this case I chose the very next pivot level. No other levels interfering with that area. I don’t know if I cut my profits early, but sounded reasonable to me.
How well in advance did I know this was going to be a good set up? Well I didn’t, it’s a matter of waiting for the level to be reached and then look wether the big boys are playing or not. I need to work more on this since there are days where I have up to four potential levels of interest.
Points of consideration:
- Market flow is bullish in the daily charts, bearish in the 4 hr charts, or so I think. Don’t know exactly how to manage that, still entry signs are very strong.
- COT report is still very bearish for the pair, but COT index is in “oversold” area and has been for a couple of weeks. I still don’t know how to apply that information to intraday trading though.
Here are the pics.
Thank you very very much for your help!!!
One last question: Do I have to put it at Expert or Expert/Indicator folder??
Thank you again for your time…
Hi panos…yes put it in the experts folder. I tried putting it in the indicator folder and it didn’t work 
so if it wants to be in the other, so be it…lol. When the alert is triggered, it will keep sounding off which is rather annoying…I could do something about that, but didn’t…however you can specify in the experts properties to “disable alert once hit” but then I think you have to remember to allow it again for another setup.
And cable just did it again
For one more time… Thank you very much for your nice explanation!!!
Good job wrtm!!! Nice analysis.
Thank you!
Well done 
Thanks ICT! And thanks for all the information you’ve presented. Glad to see you’re still around. Look forward to read your blog and learn more.
Tonight had a successful short trade on the GU. It was fun discussing it in the chatroom too with aarnoq and some others. There was of course differing opinions about which way price would go, but stuck to the principles.
We had a double top at a resistance line I had at 1.4610 which was just above the the blue PDH at 1.4607. There was a bearish divergence with the oscillator, a red 4hr & 1hr resistance line at 1.4618 (so close to the 20!), and a pink down trendline just above that at 1.4621. That was my “zone”. I put my stop at 1.4626 and entered at 1.4606.
It was between the MR1 & R1 so in the sell zone. Checking the SMT, there was a slight bearish divegence, but it was a bit of a stretch. Lastly VSA wasn’t any stronger to say it would break that zone…at least not yet.
Whether it will go down 4 levels time will tell, but I took my 20 pips in a short…ha ha…time and got out. 
I’ve taken a few other scalpy type trades since my last posted trade of which a few didn’t turn out so well, so this has put me back to +18.5 pips overall.
Well done!
It didn’t even reach the very next level, lol. I was in the same trade and got stopped out at break even.
I don’t know if you’re monitoring other pairs, but by the time cable resumed its way up, aussie yen presented a very clear intermarket bullish divergence with S&P 500 at an important key level, and cable also showed bullish SMT. This signs are very accurate, I should’ve taken my profits and go long on aud/jpy, but I chickened out.
Charts don’t lie and that’s what happens when I distort the information and not act accordingly.
One advantage that I’ve seen of watching two or three pairs, is that, for instance, a bounce on cable in no man’s land, turns out to be a bounce on another pair at a perfect indentifiable confluence area, and viceversa.
Anyway great to see the thread going on. Time to go for a walk.
Good idea…I have to dig out my exercise video and start working out…time to get bikini buff for the summer 
You’ll have to look, but while “waiting” for price to get into position yesterday, I was zooming the daily chart out and saw what appears to be a 5 wave down trend, followed by the correction of which now price is moving up in the C leg…what do you think? If you don’t see it I’ll try to post a chart later tonight with the leg lines drawn. Last night I figured that down bounce was good for some pips, but wasn’t really sold on it going down too far actually…good thing huh…lol.
So looking forward to seeing if the technicals line up for a long tonight to favor that move to complete C… Join me in the chatroom anytime after 8pm PST (11pmEST) if you can
Yeah, I got stopped out at breakeven on the trade - in hindsight, I saw it coming, too. I was watching the GU fail to make lower lows, while the EU rocketed up to make a new high. I distinctly remember saying to myself “these pairs are highly correlated, I should get out here and look for a long entry.” But I didn’t - oh well, lesson learned!
I later tried to catch a ride upwards, but I entered at the weekly RM1, instead of the daily RM1, and I got stopped out. I think I need to start labeling these things.
I guess next time I’m going to pay more attention to the bull flags I notice on the 4h charts 
Hopefully tonight I’ll end up a little further ahead.
Sure I’ll try to join you in the chat. That’d be great
Another quick short on the GPBUSD.
Price met the PDH in a resistance zone (red lines) at 1.4728 where a bearish butterfly also manifested. SMT gave me a bearish divergence. Volume was low so not showing any buying pressure to worry about.
Market sentiment: well it’s up, therefore I’m considering it a countertrend trade which dictated a small profit target…20 pips. This being in the mid-late Asian session, price was in a range. Now the hard part is deciding whether this is distribution after price rose from yesterday, or re-accumulation…hmmm.
Anyways, price got to +19 when I closed out…I figured since I’ve missed out on my target by 1 pip before, I wouldn’t miss not getting it.
So now I’m up +39 with these concepts.
Update: Even though the set up workek, I was stopped out at break even. Price retraced to my entry point and then filled the very next pivot. :rolleyes:
Hey guys, alarm woke me up. Currently long on aud/jpy.
Entry point @ 77.24
Take profit open depending on price behaviour at 77.63 and 78.19.
Currently at breakeven. Initial stop loss was at 76.94.
Reason for pulling the trigger:
-Central daily pivot
- 38.2 daily fib retracement.
- 50 weekly fib retracement.
- Oscillator divergence.
- Intermarket divergence with S&P 500.
- VSA, Pin bar close.
Hope to get out with a profit.
Eur/jpy gave an awesome trade early New York. Trade was already at break even before news so no big deal.
Massivesmart money tool with Gbp/jpy.
Entry at 111.30
Stop loss at 111.60
Take profit at 110.40 No signs of exhaustion at that level though. Price could reach next pivot. Anyway the trade is closed.
SweetPip are you still in the ICT chatroom? I can’t find it.
No, he removed it from his blog for some reason
Using babypip’s chatroom for now. Will probably be there again Monday night 8pm PST…maybe see you there