The LiveStream last night details today’s price action in the Cable and Fiber pairs. As the video describes, the market participants would have market sentiment extremely bullish short term and the old 16060 high was the upside objective for the Judas to raid… then reject.
Look at the London Open session and you will see the Judas Swing up from the Asian Range as suggested last night… then the rejection once the old high was tested. The 16060 level was your “Key Level” and you will note the OTE converges right on that level for a very very low risk High Reward Short.
I will post a text commentary this evening with a few charts and mark ups. Until then folks…
I was actually tryin to find out ways to download the livestream videos. But look at here, you really made it lot easier to me. Thnx a lot for sharing…It really helped me a lot…
I’m short 1% from 1.6065 (old high) at LO but gees it made me sweat for it for a couple of hours …lol… easy???
At BE after 30pips off and see what happens from here, I’m still treating it as a countertend tade so I’ll just trail stops I think.
I see none of you mentions trade management. where was your SL and why, what target did u have in mind and why, was it a scalp or a % of position to hold for longer, etc?
Normally I will only take a trade in the inverse pivot zone (sell zone in this case) when entry within 30pips or less from the CPP. Took the trade and noticed entry was at 44pips from CPP but trigger was already pulled.
My SL is always 30pips. I trade directly off the 1hr chart and basically look for sizeable swings and OTE opportunites based on the following confluences:
4hr flow
Pivot zone
Kill zone
Key S/R level
Based on today’s price action, I decided to scalp instead of aiming for a larger profit target (fib projection … old high … etc)
Ok so i missed the live stream last night… Took advantage of short on GU and EU today after the Judas at LO and im up a nice % today… Just wanted to show, if anyone found this as interesting as me lol… I posted last night with some of my possible thoughts as to EU play for today…