Traded EURGBP this morning @ 0.80123, OTE - Mondays high, yesterdays low. There is a question mark about 0.8000.
In the interests of improving my trading can anyone see a reason this is a bad trade.
Hi SanJ,
Donāt know if you consider news items but there is an FOMC speaker at 1pm GMT
Cheers Steveā¦ Will keep eyes out for thisā¦
Still think my setups may be valid as long as there not blown out anytime soonā¦ Ill be stalking an entry in the NY kill zone 
Hi Sanj, probably the most important news today is the ADP Nonfarm Employment Change, due at 13:15 BST/GMT. āThe release, two days ahead of government data, is a good predictor of the governmentās non-farm payroll report. The change in this indicator can be very volatileā.
Personally, I am no longer looking for short entries. iād rather let the market play out today and tomorrow.
Hmmā¦ Does ICT not say though that usually the big players use these news releases and reports as a catalyst for a larger move. My thoughts are that we may get a market reversal profile at NYā¦
Tbh, i think i may still look for the entry, i dont want my trading actions to be swayed too much on what i read on the forums - no offenceā¦
Id rather take a hit on my account and blame myself for it rather than somebody elseā¦
As it stands, that report is forcasted for good figures i believe, indicating bullish USD, bearish foreign currency? Im in no way basing my trade upon these, my analysis for the short was done even before checking the news outlook this morningā¦
If NY provides the OTE short, ill be in it :57:
Hi Sanj,
I agree with you. Donāt read forums looking for reasons to trade or not trade.
Itās a difficult call at the moment. This tells me to stay away and let the market decide for me.
Having said that, I did bag 6% today being long, closing them at the 62% bear retracement from yesterdayās NYO to todays low.
I just canāt tell what is more likely to happen, lower lows or a reversal. Advice would say stick to the current market profile, but it is the close of the month and the commercials have been increasing longs for two weeks now.
I imagine the NFP tomorrow will be the straw that breaks the camels back. My rumour mill expects worse than predicted results, so the USD news this afternoon interests me.
Iāll stay out and see what picture us painted for next week.
Interesting to note that both Monday and Tuesday next week are UK holidaysā¦
Iām also interested in the NFP print - usually when the data is poor, the USD strengthens regardless - look at virtually every release so far this year.
Im going to refrain from directing you to your post yesterday about counter trend trading :pā¦ But kudos on the win nonetheless!
I guess as always time will tellā¦ :57:
I had good reason to go long when I did. Still waiting on Mike to step up and let me share with him so he can validate and incorporate it.
Hahaha no offence Thrax, but you are applying double-standards on this thread. How can you say that you had good reason to go long, but then at the same time shoot down other peopleās trades when they decide to go counter-trend? How could Fred possibly have known that his reasons were not valid for taking the trade? A bit harsh if you ask me.
Last day of May. Hurry up Michael or you will rename it āJune Trading Planā lol
Yesterday is not today. A new picture was painted in the charts today and I traded accordingly.
Yesterday suggested bear moves.
Today showed a pretty bull move pending.
Iām sorry it appears like double standards. I simply trade according to my analysis.
Would you mind posting your analysis with your entry on the long?
Iād like to see how these counter trade trends are done, as i seem to fail at them lolā¦
and it seems to be working mate. 6% congrats!
(in your shoes Iād definitely stay flat for the rest of the week and sip some mojitos on the terrace, since my weekly goal is 4-5%)
cheers
fredy
Iām hoping ICT will incorporate them into a seminar of sorts.
NY kill zone pretty much overā¦
I went tunnel vision and was only looking at the Aussieā¦ It seems the cable and fiber gave an OTE (would have taken the fiber as it gave the entry above the daily pivot too)
But anyway, as ive missed my entries, im flat and done for the week nowā¦
:57:
I have always found that US $ SMT divergence on the higher TF like the 4 hr & daily chart have helped in identifying ITHās & ITLās, or at the very least identifying a price area where a possible reversal may occur.
took the fiber short at 1.2420 (yesterdays London low) and lower timeframe oteā¦ took a third off at +35 (missed my usual +25 hahaha) and moved SL to BEā¦ not much happening nowā¦ happy Iām at BE, so I donāt need to worry too much;)
should be able to cover the small loss of yesterdays early long entry, which would make me happy;)
have a great weekend yāall
cheers
Just woke up from a nap to see the cable fell out of bedā¦
Fiber look like its following suit, slowly but surelyā¦ Im sure thatll cover losses from yesterday
Bummed i missed the move, but must be content that my analysis was correctā¦
Oh well, happy with this week anywayā¦
Have a good weekend guys
:57:
