OMG!!!
Missed by .2 of a pip LOL.
Wally
I agree. Commercials have been lessening their shorts or increasing their longs ever since we were given a sell signal at a long term resistance level (end of April, start of May) on the Weekly chart. Commercials have just reached their longest position in a year, and Non-Commercials are not far off the mark. It is my belief that we may have seen a Daily ITL at the sweetspot OTE on July 12th, and we should be looking for a Daily STL in the coming few weeks. My preference would be an entry at support around 1.5950. This would be a fractal âOTE within OTEâ entry, and would present a low risk high reward intermediate term set-up if all of the COT parameters line up. These are the types of set-up that can be entered with a 30 pip SL, but present potential 700+ pip TPs.
For the time being I think we might be in consolidation as there is no real strength to the downside move anymore, but no good sign of a intermediate term entry. When the parameters do set up, I believe we could see a move that takes out the old highs set in April and gun for the highs set in 2009. What is interesting is that we are now back in the range that started in April 2009 and carried through to the end of that year. Technically speaking, this is my bias, but who knows what effect the Eurozone crisis will have on the tools. I am currently in study mode, not trading mode, so I may just watch and learn!
GLGT!
Ali
I can hear your screams of frustration all the way up here in the northern hemisphere!
Well that settles it⊠no swing projection targets for you buddy⊠if you canât get closer than that⊠Iâm afraid this just wonât do! 
Seriously⊠that was such a sweet call. Despite the very small miss on your target⊠howâs that feel for surgical precision? :57:
Haha! I would have no problem with trade psychology if that was the case - âwinâŠloseâŠwho cares!â Unfortunately my father-in-law is head of city police and he might just pick up on the new aroma in my office. Iâll just have to stick to smoking the fern leaves from my garden for the time being
Man-oh-Man! What a trade and one to cry about!
I think were allowed to Cry Out Loud (COL), LOL!! :17:
Looking for a confulence of factors, at least 3 lining up to take a trade.
LO = London open (1hour either side) ( look for the *days high or low to be put in here) *(day starts from NY midnight)
OTE = optimal trade entry ( between 79% and 62% fib area)
CPP = central pivot point ( area above and [B]at[/B] is Sell zone, area below and [B]at[/B] is Buy zone)
20 level = institutional levels 20 and 80 (often these are where the big boys get in and out also 50 and 100. eg. 1.6120)
4H = flow is down on the 4 hour chart ( price has broken below the nearest low Fractal (indicator) and wont be considered UP till it breaks the nearest High Fractal)
As I said this was just such a classic beautiful entry, last year they appeared like this all the time, that I had to take it BUT a good entry is not the reason to take a trade.
I took the trade because I felt we should be due for a large range day, market stucture (which Iâm now in luv with) and if my theory of commercials accumulation is going on holds up then they would proberbly ease up on the buying pressure and let it settle back to the 1.6000 level at least.
shrug it seemed like a plan at the time anyway.
Hope this helps a bit.
Wally
p.s. I was in luv with the AUDJPY last year, it was playing the pivot levels like a text book, almost to the pip it turn and go, amazing and with big ranges too. I hope those days return. 
The problem I found with any AUD pair these days is that the flows tend to come in at NY time and Iâm in bed then, this seems to be true for all the commodities and currencies seem to be London based, weird seeing that London has the LME.
I know⊠[B]MASSIVE FAIL[/B]
Very nice, thank you
Haha, that makes the two of us! I missed my entry by 0.5 pips!!!
Took my 2nd trade today using the Asian session strat mentioned in the PTC 07/12/11 video.
E/U made an initial move up, so I put a pending long near the 79% retracement, with target just below the swing high.
In: 1.4105
Stop: 1.4087 (-18)
Target: 1.4130 (+25 1.4:1 r/r)
Did some work for a few hours, checked the trade, Win!
Only 25 pips, but only 5 minutes work. I like that pay rate!
ICT i have a question kind sir
You have previously mentioned jumping straight back in if you get stopped out due to stops being raided. Ive been stopped out like this many times only to see price reverse and hit my original TP. When you say jump back in do you literally mean enter there and then at âmarketâ with a tight 10-15 pip stop? Is that an acceptable way to re-enter a trade?
Hi! Great shoot. Just one thing, TP was missed by a little more than 0.2 pips. Youâre not taking spread into account. BID price reached 1.60047 BUT you needed ASK price to reach 1.60045, right?
Iâm saying this cause just imagine: You are selling. Price (BID) reached your TP but the trade was not closed, you start asking your broker an explanation and he just says: âTP was not reached by priceâ, is he lying? No, cause in reality, price (ASK, the one you needed) didnât. Hope you understand what Iâm saying. For me those little details count too and are important.
P.S.-
My apologizes Clark. Comment corrected :60:
Best regards
â[I]Me quedarĂ©, me quedarĂ©, [B]siempre cubano[/B] me quedarĂ©âŠ[/I]â
If I remember correctly ICT did mention that you need to take spread into consideration, with eu itâs like 0.9 so the difference is almost nonexistent and you have to split that in half because most candles are average of bid/ask, so that leaves missed 0.5 pip of pure frustration even if you nail it to the pip. Also ICT said that he puts his tp a few pips bellow his target.
On the other subject our upcoming NYO looks promising OTE in OTE with confluence of multiple fibs in both GU and EU, and R1 pivot/50 level for the GU. But EU does look very strong and if you fallow direction of LO direction this short would be wrong, or the high of this day is already made and we should expect a continuation to the south.
Of course my blabbering is kinda useless because of housing prices is due soon but maybe some folks would like to share their ideas for this NY session.
Baaa, back from the gym late missed em Rokas. I was eyeing up nesting OTEs on EU and GU 4hr and 15min both sell zones. GU would have been my favourite key off R1 and expressed support at 1.6143 and this trade is in sync with 4hr MF. Entry would have been about 12.45 GMT and 10 mins later they were hovering around the 50% fib so I missed my price and am not going to chase.
As I look at the charts now EU is performing better but there was nothing between them on the SMT so I would have been GU which is small consolation.
EDIT: I hope some of you guys caught the fiber train, Iâm sure you did. Now the kiss of death (for me :43: ) I had an amazing three weeks with 40% increase in equity, well 50% actually because at the start of this run I was drawn down 10%. I have been aggressive, taking fewer trades (still about one a day) but with higher pip values and tighter stops, still a max of 2% risk. A couple of other tweaks thanks to Michael but Iâve been a bit lucky, of course with good starts to the week leaving me more selective. Now I just need this attitude win, lose or draw :53:
EDIT 2: That sounds a bit showy offy so for disclosures sake when I say I was lucky I mean it. One trade last week I was in a slight rush to leave and set my TP wrong, only by 100 pips though! When I got home I was 6% better off, not quite the full professional yet then!
I would hardly call it a FAILURE in the least⊠but remember⊠when it comes to taking profits, scoop emâ as the market moves âtowardâ your ultimate price objectives. In other words, in this case⊠covering at institutional 20 above your .03 level would be excellent. The liquidity will be better and no chance for you not getting a descent cover and then let your ego and pride be content with price moving to your objective⊠after you picked the markets pocket first!
This is going to repeat over your trading career⊠itâs a given. You will have everything in your favor⊠and it will just print a trade one or a few pips and now these days⊠pipettes⊠from your limit orders, then reverse on you.
Scale out some at 20-30 pips always⊠fund your trade and then manage the unrealized gains while the remaining portion is active in the trade. You will never go wrong doing this over the long haul⊠very nice trading MCAWally⊠sincerely⊠very nicely done.
[B]GLGT [/B]:57:
Your question will be covered in PTC tonight⊠great question.
I also missed those bastards, wanted a better price so limit was at 79 retracement, but there are plenty of trades flying around.
Great trading Jaroon (except for small tp miss lol) Congrats
Awesome canât wait
Out of town and without my MT4, just a laptop that doesnât have pivot points, and I feel relatively blind (though I can sort of see where the levels should be). Havenât traded much this week because of it, but still poking along at a percent or two a week. If this keeps up, Iâm quite happy with that!
That was with the spread accounted for, thatâs the 3rd time this week! Haha⊠=P Just my luckâŠ