Folks… the webinar on Trading the New York Open is posted on the first page of this thread… enjoy!
[B]GLGT [/B]:57:
Happy to be of service…lol. I don’t think it knows what it wants to do today!
Timing! Appreciate you posting the NYO webinar ICT - looking forward to absorbing tomorrow morning before heading off to work.
Hit a loss tonight in the NYO with a GBP trade unfortunately: confluence of retrace into OTE, fairly solid resistance level, tipped above CPP, SMT divergence on the 5min, market flow/directional bias from main LO move down, bearish double top pattern forming at OTE. In retrospect, however, should have paid more attention to the major support level present on the daily.
Some you win, some you lose. It’s all just a probability game. I’ll be analysing this more tomorrow, but if anyone else took this (or opposite direction during NYO) I’d be interested to hear about it. Any other feedback would of course be appreciated too.
I am glad we all can stick to the focus and treat everyone with respect. This thread is such a good place to meet and help each other with a good mentor we can get answers to questions and run ideas over with. Why anybody would want to mess up a good thing is crazy or just respect the one putting in the work. Still blows me away how this is just sitting like ripe fruit on the vine for anybody to come up to it and pick for themselves. No cost besides a thank you? There is hope in the world when people can put away selfishness and simply help the other guy or gal out for the sake of kindness. Semper Fi!
cnic. I took the exact same trade but got out at B/E
Guess is should have opened my daily chart a lil farther, thats quite a bit of support
March 28th low was at 1.5930; Previous day’s low (1.5912) is always a strong support level but it happened to be the quarter low aswell; The monthly pivot MS2 was bang on 1.5920 along with today’s S1 and yesterday’s S1 which lined up.
Seem to be in a bit of a range right now between those lows, and the highs at 1.6050. I’m interested to see if it breaks to the upside and gives us a chance to find another OTE on the Daily that would take out the strong support and move us down to the 1.5750 level.
I took exactly the same trade. I saw GU trading down this day and thought that it could break that support today as it has already traded down and I thought the up move was done to blow down the support. We covered NYO yesterday - trend continuation. So I thought this would be a good entry. I’m glad that to see that others took the same trade. Well, not that you took a loss, but you know what I mean 
I’m very interested to hear why you did get out at B/E? Swing didn’t reach 100% yet, so why did you decide to move your stop? Did you take some profits off too?
I was going to come in here and shout for help with strange days like today. I always take a hit on such days and it would be great if there was something to identify it before I enter trades 
I think this one could have been easily avoided. I took a look at GU on 24/06. It’s pretty much the same pattern today. I even saw this before I took the trade and was looking for this setup, but the NYO occured too soon so I entered - I’m a bit angry with myself ;(
Another eye was resting on LC. I decided to stay out as I already took 2 trades today, but it looked really good. BUT it missed the OTE for about 3 pips or something. This is where this pattern really formed like 24/06, the KillZone is just another one.
greetings
Yeah, only because I walked away from my charts. Came back and was kicking myself. Important not to let a winner become a loser; this was only marginally in profit, but I very much let it become a loser. Lesson learned for next time.
Just watched the NYO webinar many thanks.
Been out of luck with a lot of missed entries these last few weeks, but that luck was returned to me last night. I had eyeballed the OTE sweet spot at LC, and put in my limit order. The order was triggered and turned right on the pip, but I realized later that for some reason I had entered lower (62% OTE) than I thought I had. It was a nice scalp that put in a 50 pip reversal in the end, but as 38% retrace coincided with the key Fib swing, the high of the Asian range (bodies, not wicks) and the high of the London morning session, that was my TP.
You should be careful with this Normally I take some profits off at the Swing High/Low were the Fib’s resting and then set my SL to B/E. I used to trail my stop too early too and missed very good trades just because of fear, like “20 pips! It will never move down and trade up again, move my SL!” Just to see that I did a bad execution of the trade with this. Recent example was in one of my latest posts, just some pages ago. Moved SL too early and missed a huge move ;(
You really don’t want to miss that good winning trades Ofcourse it was a good choice today, but I was in the same trade and simply took the loss - the winners will overcome it. You can’t know if it will rocket in the right direction just 2 pips under the moved SL, so I try to stick to the rules and not fearexit too early, because I almost never exited to early on my SL hehe.
But I don’t know if you’ve got the same profit targets, that’s why I asked If it fits into your rules, forget about my post hehe.
@Alishijo: Mine wouldn’t have been triggered ;>
greetings
Hi Ali,
Do you often enter at 62% or was only today? I notice price never went to OTE between 62% and 79%. well done
No I don’t often enter at 62%, only if there is a Pivot at that level (which becomes obvious when you apply ICT’s teachings over a period of time…you don’t need FM to tell you that!)
The reason I said I was lucky was because I am using a different platform, and indeed a different computer to place my trades. I look at the MT4 platform on one computer, and punch in the order on another. Last night’s order was punched in even before the swing that I was keying off was put in. This is because on some other pairs price can shoot up to OTE very quickly, and it is not easy to calculate your pip risk, SL and type in the order before it gets there. So what I do is look at the 20% retracement level that needs to be met, see if there is any support at that level that price may stop at and reverse, and calculate my order based on that. As price moves further past that point, I obviously need to adjust my Fib, my pip risk, and my SL, but those are already in my system now and all I need to do is edit the levels.
Last night you will see that price retraced more than 20% of the daily range, and there was resistance turned support at NY open. This is where I expected it to turn around, and this is the point I punched in my initial order. However, you will see from your charts that price retraced even further, and I had to edit my order based on that new swing low. Somewhere along the line, while eyeballing a level on one screen, calculating the spread that needed to be subtracted, and editing the order on another computer, I put in a sell order that was 5 pips below what it should have been.
It was a mistake, I believe, but it is also worth noting that I adjusted my risk accordingly (
). All I can say is there are certain hazards to implementing analysis at 1am in the morning when you have already had a busy day and you are using two systems…this time I was lucky .:57:
Regards
Big range day coming?
haha! You took the words right out of my mouth!
EDIT: The question of course is, up or down? I quite fancy a down move with 1.6020 area for entry, but I have to leave my computer now so won’t be trading. Good luck everyone!
Looking over my charts right now and noticed that GU has been range bound for the past few days. Today’s central pivot is right near the middle of the range, with S1 being just above the bottom of the range, and R1 just above the top of the range. I’d like to hear ICT’s insight as to which direction he feels the market makers are gearing their positions. Looking at the current chart with my knowledge level, I can’t find a bias one way or the other. Going to have to wait for price action to show me the way, but it would be nice to know if ICT can spot these directional moves coming.
I know that fundies aren’t the hip thing in this thread, but today is kinda (well at least could be) memorable day, and small range days show the anticipation. At very least today shouldn’t be “normal market conditions”.
Thank you so much for recording and posting the webinar ICT, it makes the understanding of concepts so much easier.
I think I better point out something about data feeds, some of the small days you pionted out, when I tried to follow along, wheren’t on my charts so a bit of investigation showed me why. The server you used had Sunday afternoon as a seperate daily bar but the Alpari one I use melds Sunday and Monday together.
I think this is why I had trouble with this concept from the original video but I put the difference down to different time zones for the charts servers. But Forex Ltd and Alpari are only 2 hours apart.
It doesnt change the concepts ofcourse just makes things a little less obvious.
Forex Ltd
Alpari
Wally
orders in to sell at 6020. missed by 5 pips. looked like it was going to line up right at London open, but just couldn’t make it.
edit:
retrying at 1.6000
edit:
worst idea ever
Around 1.5965 has been a decent area of S&R for some time, it has been breached before but has often been respected. With this week opening with with low tests on the Daily into this area, and with Price being extended away from the emas, I have a simple PA Long order set for the break of the high of yesterday’s bar, so my Entry is 1.6049, Stop below the low. Just looking for 1:1. This is a very straightforward Entry, I just mention it as you are talking about shorting the same Pair at the same time so thought you might find an alternative view interesting.
Hilarious second edit to your post, btw!
ST