OK…we’re officially opposite each other again. My buy limit was triggered at 1.3504. Stop loss at 1.3479. Using the ibfx partial close to manage the trade. 30% profit target at 25 pips, move s/l to break even + 1. And target close at 50 pips…which is the R1/yesterday high/150% extension confluence. Also…just drew another fib from the low today to the swing high established in the GMT early morning hours leading into the LO session. The 138% exentension from that swing is also the 1.53 level. I’m now seeing 4 confluences on that point.
GLGT…btw…you can make your 25 pip target and we both could still win. Hopefully we don’t take money from each other and we both win!
Hehe, missed first target by 4 pips and now its going in your direction. Im using the partial close too (after first Take Profit is reached SL will be moved to BE).
Dang it…I was looking at a new indicator (the #### daily/weekly/monthly hi lo) and seeing how it works. it messed up another indicator I had and apparantly somehow hosed the setting for my EA. It missed closing out when it hit 1.3529. shoot. I reset the setting and now hoping it goes back up.
UPDATE: The EA came back and closed out 30% at 1.3520. moved s/l to BE+1, and I was stopped out. Small gain here.
Regarding the pivots. I noticed there is a function called " shift hours" . If I’m trading the NY session should it be at -5 ? And if trading the london session should it be at 0? And the asian session?
Or does it always stay the same, i remember ICT talked about this so you receive information for example what London traders’ are thinking ?
I can help you save time with FXCM’s marketscope charts. What features were you looking for? Feel free to reply and let me know or you can send me an email at [email protected].
Gotta say Mac makes things easy as I browse the net while Windows 7 installs at the same time. Looking forward to getting back on the MT4 program so I can be on the same page as everyone here.
Hi ICT…I’m going through reading the history of this thread…much earlier in the thread a discussion on fractal market flow came up (the above quote is from post #503 on 2-13-11).
You said in this post that market flow is ALWAYS (emphasis mine) up or down. There are times when fractals form on a swing nested inside of a larger swing (see attached for a representative example from a daily chart back in July). As you can see, a fractal high and low established inside of a more longer term high and low without any fractals being broken. In this case, which way is market flow?
In my example, the 3 fractal lows prior to the current one were all lower. So we are making higher lows based on fractal lows.
Additionally, the 2 prior fractal highs were higher, so we have lower highs.
A timeframe with a symetrical triangle where fractals are formed without violating prior fractal levels.
If you’re suggestion is market flow is always up or down where ‘neutral’ isn’t an option…I guess the market flow here is up since the last established market flow was up and will stay up until if is broken to the downside to be down market flow?
Do I have this right? There always is a market flow direction or is neutral a possibility?
(note…from the example…the market did break higher to establish 3 new higher fractals…barely getting 12 pips above the Intermediate high in the graphic, then slid sharply down.
Using the methods I’ve learned from ICT and all of the reader posts of this thread (and a couple of other threads), I’ve kept my first official log for all my trades these last five weeks. Week 4 was very difficult due to the nor-easter, power outage, and some remodeling. Also between week four and five we were at Disney, so I did not trade. Although I believe these results are decent, going through them trade by trade shows that I lacked patience at times and need to learn to take losses better, with the trade off being better returns on my wins, and numerous missed opportunities. I hope to trade professionally someday, and would appreciate any critique or comments based of these results. Is there anything else I can be tracking to analyze my results better? I used Price Action and London Closing (for some) methodologies. If there is anything positive about these results, it’s a credit to the great communities within Babypips. Sorry for the posting issues.
Well FX1 that level is exactly what I was looking at for a target yesterday. I am not trading live because of school, but I study this thread everyday and I am building anticipatory skills. Here is my higher timeframe analysis I said I would get around to posting. It may seem like hindsight but I actually drew my fibs yesterday and woke up thinking wow this is powerful stuff, as it came into the confluences of fibs and s&r
First is the dailly analysis, and price reached the 161 extenstion
