If i stayed in the trade i would be 50pips up right now and it looks likely to be a sell day today, a little annoying but on a positive note at least the system is working. i think this is the second time i’ve cut bait early and the trade has continued to go my way. I may have to trust the system more, although i think my confidence will naturally come with time and seeing the same set ups over and over.
It all seems easy when you learn a system and back test it on charts to find the examples of where you would have made a boat load of money but in real time with real money the dynamics really change, stating the obvious maybe lol but i’m not sure everyone realises just how much comes into play, the money management means you have to protect your money and it also means when you have to reduce risk you also reduce % profit and the patience involved with waiting for set ups can be difficult sometimes too. I will certainly get there though, no matter what it takes and no matter how long it takes!
Another possible set up, A/D divergence, with oversold on on williams %R on 1hour chart. I’ve set my sell order at 1.5700 big fig. At the moment the fiber is failing to make higher highs.
New set up today on Fiber, oversold on Williams %R and A/D divergence. Also have SMT between cable and fiber, with cable failing to make lower lows on a 15 min chart.
My order to enter is at mid figure 1.2250, price so far has got down to 4pips away from my order but not hit it yet. will leave it open for a couple hours.
I got filled at 1.5704 and took a 1% loss, back to square one for the week. Getting a little frustrated, mainly because I don’t know when i take a loss if it was Jade or wasn’t. I don’t mind losing, as we know its inevitable and we are only playing the probabilities game but i just want to know whether its a jade or a fake!
Reasons for short
A/D divergence, oversold on Williams%R 1 hour and at big figure
Fiber failing to make higher highs at the time on 15min chart
Also had confluence of upper trinity level
And Large OTE on daily which i will post below
We even had a grail set up on a 1 hour chart pulled from the high on Tuesday down to todays low.
I hear ya it sucks but in the end does it matter if it was a jade or a fake? In the end it was a loss and thats all that matters. Good luck on the next one man
((sorry if the talk about Jade has thrown some people off, please see link to explain about Jade, no its not one of my ex-girlfriends lol)) 301 Moved Permanently
Careful on that short setup. As I am liking the divergence and the fact you are up into resistance. I am thinking for me personally price has moved out of OTE a little to far for my liking for anything long term. It does look to be a nice short term trade on lower time frames as it seems to be setting up nice for a LC killzone play. As it seems to be setting the high of the day. Price might have the steam to push to the bottom of the range though and if it does that would be some nice pips. Good luck either way
Here is one thing i’m going to try and avoid. Trading against the trend of that day, ie if LO is showing an up day then i won’t trade short in NYO because NY usually follows the trend of LO.
Here is an example of both Fiber and cable hitting there 200 extensions today at LC. I did have a signal to go long on the Fiber this morning which i’m sure i posted this morning but it wasn’t filled as i was trying to get in on the mid fig and missed it by about 4 pips, its a shame because if i was in that trade i would certainly have been looking for the 200 extension and would not have been looking for another trade. Oh well, as Bob says on to the next one.
Probably a good idea. Even though it does seem to be putting in the high of the day based on that daily candle and you could probably get away with using ICT’s LC scalp method. To be honest I just dont see it worth the risk involved
sorry mate i should have said, that analysis was for the trade i took and lost, i was trying earlier to post all the analysis in one post but baby pips kept rejecting it so i slowing posted it on 3 separate posts, sorry for the confusion. Not looking for another trade till Monday/Tuesday now.
2 set ups today, 1 on the cable and 1 on the fiber. I’ve just gone short on the Cable at 1.5772. I’ll post a screen shot later but the analysis is:
I felt a little more comfortable on the cable set up, not sure why to be honest lol.
Key level 1.5780 was hit in LO
A/D divergence
Took an OTE entry on a 15min chart, early in NYO.
Took a 1% loss on this one, price did travel 25pips in my favour but as it was going so well and so quickly in my favour i was actually hanging on for 30pips for first target unfortunately i didn’t get it.
i’m struggling a bit with this way of trading and hoping that one of the next weekly reviews will help clarify if i am doing anything wrong or if i can improve.
