I seriously got to watch that tonight. Herd it was on page 391 if you cant find it
Correction I just went and looked it is on page 392
haha yes at BEā¦
but according to my plan Iām only scaling out at +20 to 30pips if my position is at least 0.1 lots;) due to my tiny live account (to get my feet wet) Im currently trading with 0.027lots (1% risk/30 pips SL) HAHAHAHA
but I might have to adjust that at some point - or make sure my account grows quickly to trade bigger lots hahaha
SL is currently at 1.5790ā¦ So I assume Iāll be stopped at BE in a little whileā¦ if price goes above R1 I might scale out a bit anyways;)
maybe tomorrow we get more clearer signals and a nicer move;)
cheers
Hi all!
I am still a little confused on one thing in regards to the OTE method.
Am I looking for all the confluences at a resistance support line. (Number, Stoch, Indicator divergence, Pivots, SMT Divergence) then looking for the OTE following this turning point. Or am I looking for the resistance/support + confluences at the 70% retracement its self?
I have attached a couple pictures I have from a while ago.
Ok, I think this will help
EURUSD 5m chart.
- This is my first clue, Daily Open, swing high, expect lower prices.
But, my trade is going to be long if Iām going to trade, after the bull run yesterday, I expect a higher high on the daily.
So Iām waiting for a nice Judas swing low, and then an OTE go go long, but it didnāt materialise at the LO.
By NY open, Iām looking at a market reversal profile as per black zigzags, and the thick red line represents TT and Pivot, weāre also just below WR2 so thereās a good chance it might like to cross that line again.
Green arrow showing extremely high volume, so I expect something to happen soon, no further progress down, then we havea nice pinbar, so Iām pretty convinced this level is going to hold, then soon after we get on TE, we are far enough away from the news, so I go long and TP at 30.
Oh and those green lines on the Stoch, no idea what thatās doing there 
Donāt think there was anything else.
So in a nutshell NY open reversal.
Sorry Iām at work so I canāt post a chart, but also the GBP/USD was failing to make a lower daily low while EUR/USD clearly was. A nice little NY Open set up today.
There was also a LO short if you lookā¦ Nice little reflexion pattern on the cable using yesterdays high to Asian low to pull the fib. On the fiber it was a classic ote. This created some nice smt divergence.
I had the most perfect entries todayā¦ I shorted cable and fiber at 1.58154 and 1.24747ā¦ took half off at 25 pips and then got stopped at break even.
HA! would you look at that!
I certainly didnt expect that move this late;) Instead I was quite sure Iāll be stopped outā¦
took 2/3 off at +45 pips;) the rest is still on, with SL at BE
FOMC Minutes released from a prior meetingā¦ Atleast thats the cover story! lol!
Nicely played bro!
Yep it contained some QE3 talk and got everyone excited. I would look to short now as all the retail and knee jerk reactionary traders went into a buying frenzy. Well guess who just sold it to them? What do you think they are going to do with price now there shorts are in?
yeah just saw itā¦ didnt really pay attention to it as it is already thursday (2.45am) in my location;)
was just lucky to still be inā¦could have just as well gone the other way hahahaā¦
I am tempted to close my long, due to similar thoughts as bobmanincā¦ on the other hand: we are getting very close to that huge HTF Bear OTEā¦ Iād just love to see price going up there to set off that hardcore bear move before the september rallyā¦
but I am tending to cash in my little trade now either way;)
Are you guys seriously considering entering short at this hour of the day? or will you wait for next LO?
not experienced enough to make a valid decision to enter this late/earlyā¦
cheers
edit: decided to scale out the last bit at +70ā¦ be happy and run;)
Just posted my plan of action on my thread - not going to bother retyping all again lol!
But i agree, think its safe to say i missed most the action of the bullish move hereā¦
Prices entering an anticipated area for a bounce, awaiting a power of 3 confirmation on the daily and an entry shortā¦
Looks like im gonna have to be a little more patient!
Yes Iām thinking in similar terms;)
but if it falls tonight (within the next few hoursā¦) then itāll have to do it without me aboardā¦ for me the bed sounds more tempting right now hahaha
cheers
No fred I am no saying short now. I am saying though things are shaping up for a turn. Follow your plans keep the guns aimed and be ready is all I am saying
And look at where itās stopped, OTE - Daily Chart!
Must be a coincidence
Canāt be anything to do with divergence:D
Hi guys,
this thread is awesome company! being brand new here and only a few weeks old to ICT methods and tools, iām discovering the awe-inspiring potential for learning, from discussing trades and sharing information such as it is done here. Heartfelt thanks to ICT! for teaching and mentoring with passion, and respect to all the guys and girls who participate and post charts, and really invest a lot in becoming better traders.
I have much to learn from you. Thank you, and good trading!
Anyone agree with this news headline from my local newspaper today?
These banks and big financial institutions have to kno what these reports are gonna say beforehand. There no way things line up this perfectly randomly.
Friends this is exactly this ICT teaches, when all is bullish look in the other direction. And vice/verc. At least
is it how I understand it. Also the pro traders at Fxcm use SSI in this way, as usual sorry for my bad spelling;)