Basically price is just floundering around, not doing all that much after last night’s rather large range…
yes I also don’t like what I see… I started unloading risk as my short is currently at +10 magnificent pips;)
I’m turning more and more bullish as well… but to be honest… a lucky coin would be helpful for me right now…
bull? bear? I think I play with my kid instead;) need more clarity from the market to feel more comfortable…
happy hunting and good luck guys!
cheers
fredy
Edit: ECB press conference coming up… maybe worth not to scale out everything just yet;) suddenly I feel bearish again hahaha
Stuck with my initial thoughts, shorted fiber at 1.2515. OTE on NY retrace, another SMT divergence at the time and also confluence of Asian range high…
Risk was down to 1% but taken off half at +30, hoping to see a push down to the swing low, next TP at 1.2425 and will let the rest ride as in line with daily market flow…
Hmm
:57:
congrats mate! I really believe now that our bias was wrong after all… never the less nice to have grabbed some pips today anyways… the market is really confusing me this week;)
cheers
And to you! I see you would have grabbed some nice pips too…
I actually just got out of a short meeting, before the meeting i moved my SL to 1.2485 and was actually surprised to see the notification to say it got hit… Strong bounce off the daily Asian lows!
So anyway, out with 1%, 1:1 R/R so pretty pleased i managed to claw back 1% losses from the day… Tomorrow is another day!
But yeah i know what you mean about the market, i guess it just shows a setup with enough confluences in your favour will be good for at least 30 pips! lol
:57:
this is in hindsight, i can see there was a buy at NYO 1:45pm gmt, on the Fiber, SMT divergence, Key Level 1.2450, and an OTE from yesterdays low to today’s high, below central pivot and below the high of Asian Range. At the moment its 50 pips up so we could have taken first profit, and now we are approaching 3pm GMT we would probably have taken the rest off.
I didn’t take this trade, i’m still treading carefully, i want things to be a bit more predictable.
I agree. It’s pretty ticky right now. I took some pips on a short, but between technicals starting to point long versus the doom and gloom sayers about the Euro, it’s tricky.
Did’nt trade it up (very disciplined 
) Do’nt think it is finished yet - still watching 1.2620
Good call on that one… It does seem after all we could have that bullish week… Although i expect its a retracement gearing up for lower prices rather than an actual reversal…
Ill be looking for a possible short on the fiber here
1.2660 level, OTE entry on the daily, confluence of an old low i have eyed this week and also a weekly / monthly resistance level rests directly on the 62% retracement…
But until then, i think i may stay out the cable and fiber… Their correlation seems really out of wack and its hard to tell whether to use it for the longs or shorts… Just looks a bit muddy to me… I think tomorrow i may be looking at the Aussie and Kiwi… Both have made strong bullish moves and market flow on the 4H and daily are now bullish… Think ill be looking for possible opportunities long tomorrow…
Hello tycoon,
and did you see this reflection 
GLGT
i understand the bearishness here. but after watching the power of 3… do you guys note the recent bounce of 2008 lows? might be a short term change in market flow to bullish. we could possibly see a weekly fractal being formed…
i think ICT said in that video that if it strongly bounces of a significant support level that it could indicate a fractal is being formed a change in market flow.
The EUR is at 1.2568 right now. If it gets up to 1.2620, that is (I’s sure others have written about it) a 61.8% retracement after the May 12 high of 1.2824 to the June 1 low of 1.22877. This looks like a great place to pick up some extra pips overnight, perhaps setting up a move down. Perhaps a move up as well, as we appear to have the weekly low in place as well as a fractal low formation this week. Not seeing SMT at the moment.
ICT’s Fibonacci video is really great. My tool does not have Fib expansions, so I have it set with positive and negative numbers. Once you identify the highs and lows it’s amazing how predictable it is.
He took the trade at 3 am . 4 hours after your smt chart . How is that a indicator that far back ?
Please reply
Thanks
I must thank ICT. I just watched the market review (I know it late but I dont trade the cable and fiber anyhow). You brought up something I had honestly forgotten about that was a string hold for me last year. Thats when in a down tren draw a fib from a low to a low and when in an up trend draw a fib from a high to a high as a hidden entry point so to speak. That was a very powerful tool I had before looking into these concepts but you can get blinded by all the info from time to time. Thats why it is important to relook at what you know.
Caught quite a nice entry long entry on the cable today i think…
- 4h market flow bullish
- Oversold stoch into LO
- OTE entry 5m, inside a HTF OTE
- Pivot buy zone - confluence MS1
- Bullish SMT divergence
The grey box shows the wider OTE, and note the 5m OTE entry inside that area
Entry
Stuck with a smaller risk - 1%, taken half off at 30pips and will try hold for daily range…
:57:
I got in on the same trade. Not as good of an entry, got in at 1.5452. Also looking at the daily range.
nice one bro, I didn’t take this one because i couldn’t see the bigger OTE, I guess you took it from the low to the high of yesterday which lines up nicely. I think you should aim for 1.5600 with this one, hope you hit this one out the park!
At 1.5600 I can see a swing trade to go lower, its a nice big OTE from the high to the low of last week, not sure if i’ve mentioned this or if anyone else has but that’s what i’m stalking for next week.
Lol SanJ bro we must have a telepathic link, we always take the same trade 
I scaled back to 1% after yesterday’s loss and closed my long at 1.55 - still a bit unsure of whether the daily ranges will be fully in one direction, so I’d rather take what I can get.
If cable forms an OTE from the high and low of today and reaches central pivot at NYO then that will be the trade for me today, hopefully can catch some pips, i’ve been on the sidelines all week.
I certainly feel like i’m seeing a lot of the same patterns over and over again, which naturally gives you more confidence.
We are getting there Musketeers!
I agree, the 1.56 is a level to watch, theres also a few swing projections plus a weekly trinity level that line up with that fig so im going to try hold out til there…
Aiming to take off 3/4 at 1.5525, todays R1, and then hold the last quarter for my final TP at 1.5595
Nice bro! Some good pips bagged there… Im hoping it’ll push up a little more so im going to hold out for it and see what it can give… Found some resistance at yesterday’s high atm… See where this goes!