As per my assignment to focus on NYO:
I went long [email protected] because there was a OTE from LO to high of the day.
The OTE was formed around 12:20GMT.
tp1 is @1.2698, tp2 is @ 1.2740, sl is 1.2635
Youāre welcome, you can find me in the school if youāre looking for me next time 
Not the best idea of the day from my point of view
Aussie is very bearish. Sure glad my short survived the ride yesterday
Lol i dont know if this was sarcastic or what butā¦ I think its safe to say we had a change in tide! lol
Can only speak for the fiber anyway, daily and 4 hour market flow aligned showing bearish action. Cable still has some movement to go before having an āofficialā bearish daily market flowā¦ Think weāll get the shift next week though if this change happensā¦
If we get some market structure to flow with this too, ill be ready to start gearing for shorts again
Hello Everyoneā¦ After spending some time last week studying how ICT determines swing projections I made two nice trades this week. However, they are still far from perfect. I have no problem taking a trade near Fridayās close if setup is right. The trade I took in the GBP/AUD pair shows a nice fib falling right in OTE pocket Friday afternoon. The second trade setup came on Monday in USD/CAD. Overall it was a gain of 188 pips including swap. The downside is that I gave up about 75 pips because I missed on the lows.
In trade review, I would have been better off just measuring as shown here. Original swing projection was another leg lower. I realizing that I had missed something after price stalled out so decided to close out the trade. For the most part I consider it good trade because I did improve in areas I was lacking, OTE and Swing Projections.
Second trade. After moving the stop on GBP/AUD to profitable. I looked for another opportunity, what caught my eye was the volatility in USD/CAD. I donāt trade it very often, but the setup looked very nice so it was a no brain-er. I made the same mistake here on the projection. Note, if I had done the measurement as shown it would have been more profitable. After noticing that I miss something here as well I closed the trade manually. As above the original projection was a leg lower. I still consider it a good trade at 50 pips.
Note: Swing projections shown are the OTE Fibs transposed on top of the OTE leg. I just used a measured line to illustrate.
Charts are back to naked and I am done for the week unless I see something unusual like last Friday.
Cheerā¦
Added Content:
Improved entries and better trade management has allowed me to reduce risk on stops. Max risk is back to 30 pips.
Very nice trades. I am not far behind my Aussie short from yesterday finally started acting right today. Currently sitting +120 pips.
check out the seasonal tendency for the poundā¦ if cable can manage to get down to around wMS2/TT buy zone/5450-5380ish it could very well be the OTE long for the bigger move up, which we could expect around last week of june, if we believe the seasonal tendencies;)
just as additional food for thought
cheers
For me, Iām going back to Babypips school, then Iām going to watch all the videos again and then finally Iam going to demo trade! Iāve been making excuses for months now but the only way to learn is to do the demo trading which is hard due to work commitments but I work fairly flexible so I need to make time.
Understanding the market flow is what I want to understand the most so when I do trade it is with the HTF bias. It may not be September when I join you all in trading as not sure Iāll be ready then but Iāll be along for the journey and education nonetheless. Thanks again Michael or ICT whichever you prefer for the effort and time you are putting in to helping others who want to learn your methods and concepts - itās an amazing thing to be doing!
Tommy
Hi All,
Iām more reader/student than contributor here, butā¦
I owe my homework ;).
Here are my goals for upcoming month:
- to get confindence in my HTF analysis and defining directional bias for the day + early recognition of correct market profile
- review my journal on weekly basis, create ālesson learnedā chapter after every week and apply the outcomes in my trading
- finish reading āHigh Performance Tradingā from Steve Ward
- go back live and keep the consistency like last couple of weeks on demo.
hope Iāll have some results to shareā¦
Good luck to all
Goals for Next Month:
[ul]
[li] Work on one facet of my trading every week
[/li][li] Continue Top Down Analysis before every trade
[/li][li] Return my live account to at least breakeven overall
[/li][li] Be more willing to scalp for small gains when range bound
[/li][li] Patience - Patience - Patience: Be in it for the long haul
[/li][/ul]
First a big thanks to Michael for the live session this week, it was great!
My goal has not changed from before. In short to achieve 75 pips per week risking 1 - 2% of my equity. How I achieve that has changed ā¦ it had to due to work and my own temperament. I am in the process of developing my trading plan (and patience) to trade off the daily chart and perhaps have 1 to 3 trades per month. The most difficult part for me is to let a winning trade run and not bail after achieving 75 pips. I really do want to be active on this thread too, but at the moment confidence is lacking and I start doubting my analysis if I see other comments. So confidence first and once Iām in a trade, Iāll post my TP targets for the trade then radio silence until Iām out of the trade (stopped or taken profit).
Hey guys I donāt contribute much to the forum but my objectives this month are :
- Rewatch videos.
- Focus on London open
- Complete top-down analysis prior to kill zones.
- Get back to trading at 2% risk.
- Not to let losses make me fear entering the market.
- Contribute more to thread/ chat room.
Anyone else find themselves unable to wait for Pro-traderās club to return?
OK coming out of the shadows to participate more,
So I will put my 2 cents in.
Goals for next month
-
understand the importance of the higher S/R lines and how to USE that info
-
improve on top down analysis
-
only trade high quality trades 3 max wkly (improve pre entry checklist)
-
move to live small acct if all goes well by august
-
improve journal entry info and how to use it to improve future trading
-
self discipline in all areas of trading plan
So Iām in the process of taking notes for all the videos ICT has and Iām gonna re compile them into a step by step procedure. Would anyone be interested in this? Gonna take me a few weeks to finish tho.
Like a lot of the newbies on here i will post my homework objectives:-
- Bank 50-70 pips per week.
- Be patient- the art of achieving the above goal.
- Try to get a better understanding of how the bond markets affect the FX world.
- Hopefully go to live account around September.(9 months of ICTās teaching under my belt)
- Dont deviate from the plan.
Shaun.
limit sell order at 1.5630 on limited riskā¦ wasnāt triggered and price moved downā¦ fiber took out yesterdays lows and cable didnātā¦ showing bullish SMTā¦ closing my limit sell order now;) and Iāll be watching closely for other opportunitiesā¦
happy hunting
entered long on cable @1.5590
reasons:S&D week,bullish div between fiber/cable and cable/usdx,OTE,judas,MS1,1.5580 key s/r level.
edit:moved sl to be
edit:stopped out at be!
Have a nice weekend, guys!
TP around 5640-5660 i assume ? or is it just quick 30pip counter flow scalp ? :50:
tp around 1.5700 after 3-4 pivots,midpivots!