What Every New & Or Aspiring Forex Trader... Still Wants To Know

Beginner Questions
4395

Hi Michael and all at the Baypips forum,

I am a bit of a newbie to Forex and have been reading some of the earlier threads on this forum and am an avid follower of ICT’s videos.

I have a query and appologies if it has been covered, please point me to the relevant page or video.

It’s regarding the pivot daily macro, for the pivot daily macro, I have for the colors from 0 to 6 respectively:- Violet, Orange, Slate Blue, Dark Orange, Blue, Gold, Blue Violet.

For the inputs:- false, true, false, true, 0 & 167.

for common both boxes are ticked & visulization, all time frames.

Are these settings correct?

And most importantly which colors represent the mid pivot and the high and low for the day.

Best Wishes

Sunny PIP

4396

Pink is the Mid Pivot, If you watch the videos it is all talked about within them…

4397

Serrrrrrrrrrrrrriously cannot wait for this.

4398

eurusd will OTE @ around 1.3900 and be sitting on a pivot as well as a previous resistance level. Possible bounce there to continue up?

4399

Just shorted Cable at 1.6007
-MF down
-LO
-S3
-bearish divergence between Thursday and Friday highs(missed Asian rally)
risk 0.5%

edit:stopped out at 1.6027

4400

I just went long GU @ 80

  • number 80
  • OTE
  • D1 still up
  • H4-support
4401

Long GU @ 1.59828. Commercials long, Daily bullish reaching up to a short OTE on the daily. 1hr OTE long.
30% off at +30, stop at BE. Another portion taken off at +42.

4402

Long EU @ 1.3990
OTE from Thus H-L
Thurs Asia high
Old gmt S1

+55 pips off now at BE - LO going against me :frowning:
Last lot SL at BE

Wally

4403

Long @ 1.59924, 30 pips in +, SL at +10. Still in because I think I got in later than the rest on the second OTE that formed right on S3.

4404

On a day like today be careful as the fundamental factor of BOJ intervention is working a little havoc on the currency.

4405

Cable short trade at 11:48 EDT, OTE from Sunday high to monday low. Confluence of 1.6100 institutional level, 4 hr flow down, ADR high, 10 pips away from CPP, LC kill zone. Hope this pans out well.

Edit: stopped out despite increasing risk to 2.5%

In hindsight, I probably should have entered on CPP using Friday high. Although I still would have gotten stopped out anyhow. What a bummer.

4406

I remember Michael posting awhile ago saying when price is roughly 30 pips from the daily high or low, expect it to be retested. Just a note worth remembering, you should also be waiting for a pullback from the daily high, drop a FIB on that and wait for price to trade back up into OTE for a short. Obviously there is a lot more too it, but these 2 points need noting. The London Close video being released later tonight should help you out.

Regards

4407

Take a look at today action of fiber and cable. I was waiting for the stops to be raided as euro showed cleary no signs of an upmove. GBPJPY dropped down today too and it traded up and was far below the last high, while Cable was climbing up to it. Entered Short @1.6150 inst level when it came down to it again. Locked in BE already.

greetings

EDIT: Out at +90 Pips, 3:1 Risk Reward

4408

Good thing I closed my long out at +62, definitely would not have wanted all those extra pips :s

4409

Anyone have the The Ultimate Trader Worksheet which is located on the first page. I clicked the link and it says the file no longer exists.

Thanks,

4410

PIPhanger,

Here is the file you are looking for.

ICT_Risk_Management.zip (65.6 KB)

Regards,

4411

Bucknaked, I appreciate your help.

Thanks

4412

Fxnumerouno, I’m curious how did you decide to get out when you did? Just curious what you were thinking. Props for hanging in there for all that.

4413

:35:

4414

Entered long on Cable at 1.6011
-MF up on H4 and D1
-buy zone
-previous day S3
OTE between PDL and PDH
zoom in on M5,found an OTE within OTE at 1.6011
risk 0.5%
edit:stopped out at 1.5987