Remember, you don’t need to always be in the trade. If, from the information you’ve gathered so far, you’re left feeling confused, it’s better to step to the sidelines and wait until you’ve gained confidence in a potential move. Getting on the side of a losing trade is less desirable than sitting on your hands.
Perhaps you can start by marking important S&R levels on your higher TF charts (1hr, 4hr) and just sit back and observe how price reacts at those levels for now. Let the market do it’s thing and make your decisions based on that. For example, if you have a Bullish OTE marked on the daily chart, you don’t need to be in on it the day it touches the 79% retracement level (which it did between yesterday and today on cable). If it will retrace, you have time to get in on the bullish action (remember, it’s a daily chart, so an OTE bounce wouldn’t just end in one or two days/candlesticks) and don’t need to be in on it from day one, especially if you’re not entirely confident if it’s the beginning of a retrace or a continuation of a drop to old lows. If it doesn’t retrace and price continues to drop, you can decide to take action as it gets closer to the October low. Either way, if you’re unclear my advice would be to let the market make it’s move and give you a clearer direction so you have more confidence in your trade decision.
sladhaFX,
Thanks for the reply…These last two days have been really the only two days I’ve had time to watch the markets live all day long, since all the other days I would be at work.
I know these last two days aren’t the best days to trade with the holiday and all, but I’m only demo trading and trying to study the markets.
I guess what I am trying to start by asking these questions is to get everyone involved in a discussion. Alot of times I think we just post up trades and then everyone says “Nice trade I was in that too” or somethin to that effect and not making more of an analysis discussion out of it. I would like to hear more of a discussion per say.
I guess it just helps me with my learning if I can pick everyone’s brain’s and find out what they are thinking…
It does look like on the 1H chart we have broken below the 162 extension level of the TT’s tool, at this time it looks like it might hold as resistance…
PIPhanger,
I like your analysis. I’m sitting on my hands until market direction becomes obvious. Today IS the Friday after Thanksgiving and a lot of people are enjoying Thanksgiving weekend away from work. However, I did notice a southbound OTE today @ 1.3293 for the fiber which could indicate lower prices on Monday.
It might also be important to mark that as a key level.
Artificial Trader,
Did you miss type your figure for the fiber…1.4246 is far away from the current price of 1.3231…
I think you mean 1.3246? If so I think you might be on to low of a timeframe. I am only looking at 1H and higher timeframes. I get a setup on one of these charts and then zero down on a 5M chart.
Maybe I am miss reading your post…might want to post a picture if you can.
Thanks
Sorry. My mouse was hovering over the wrong fractal. I corrected the price above. I attached a picture. I was looking more specifically into what happened during trading today. This is why I used a 5M chart to look at swing entry points that traders could have taken today, which would forecast their sentiment for next week’s trade activity.
Noob trader here reporting in. I am aspiring forex trader looking to join ICT’s sniper squad. I’m currently catching up by watching ICT’s older videos along with working my way through this thread.
[B]Hey Babypipsters[/B]! 
Okay folks I tried to edit this dog but I wasn’t able to put the typical ICT touches on it before sharing it… so you will experience a raw footage edition of the Webinar from this past Monday night. It will give you an opportunity burn 2.5 hours this weekend should you have the time to burn. So heat up a leftover Turkey sandwich and pour yourself a cold drink… and enjoy the following webinar…
62% did not pan out, but now we’re at 78 and approaching a fig, prior s/r. Anyone thinking that we’re about to see a big post turkey move up for both Cable and Fiber.
I love the signature…
Hogarste,
It will be very interesting to see what happens. At this point I am confused to were price will go. I can only see getting in a long trade if and after the 4H fractal gets broken to the up side.
Right now to me TT’s tool is predicting price to go near or even below the Oct. low…in my opinion…guess we will have to wait and see…
Refer to Support/Resistance levels that are clear on your [B]weekly[/B] chart.
Wait for price to reach one of these if you feel confused right now. I think we’ re entering a “two-way” price action zone for next week, where some really big Bids and Offers will show up, and make for some volatile trading sessions. This week was less than inspiring. The trend down was really strong, but there was only a Single day that had a 200+ range (for Cable+Fiber), and from my experience that is low volatility for these pairs…
edit:
This is a reminder for myself just as much as you, but remember there’s no harm in staying sidelined for an entire week (or more) if you just can’t get a read on the higher TFs. If you really wanted action without a clear higher TF picture, I would look at some intra-session pivot plays, scalps (think 20-30pips). Be happy with a modest pip haul and you will be fine. The higher TFs will clear up eventually, and you’ll be glad you didn’t throw a bunch of money at trading conditions you were confused about 
akeakamai,
I really appreciate the reply back. I have changed my game up since the webinar on monday. Before hand I was looking at 15m charts for hours at a time. I’m really starting to look at the higher time frames almost none stop now.
Just to let everyone know I went back and viewed ICT Pro Trade Review: 11/07/11 Video. I think this video will clear up the confusion as to were price is going. He has actually predicted price going to 1.3050 on the Fiber. This prediction was made on 11/7/11 and I think this just might happen. Has ICT been wrong yet with his predictions…?..Not that I’ve seen so far.
I was actually using the 200 extension on the fibs which he was using in the last webinar video, but in this PTR video he was using I think the 260 level to predict the low after price trades outside of the TT tool. This level is sitting on the 1.3050 level and is the price I am looking for the Fiber to go too.
I guess if we can get a retrace back on the 1H chart for a Short OTE I will be willing to take it and see if price will go down to 3050.
What do you guys think, I suggest looking at this PTC video again…
We are getting more discussion going on and new people are jumping in with their comments, all of this is much appreciated.
Thanks
Wise Words AK… Wise Words Indeed.
Jay
Hello all,
As I was looking at back at last Monday Web conference and I tried to applied some of the concept to a Fiber chart.
Let me share with you this experience
1st chart:
- 4h time frame
- OTE for short at 62% was triggered From LTH to the new LL
What I can up to my eye in the 4 hour is that in October, EU made a LL.
Will the market will try to gun the stop that would rest below?
2nd chart:
- 1h time frame
- Fibs pulled from LL to STH
The year low is at 1.2895 level. The Fib does not really show on my chart but the 1.23 extention sits on this level.
Can we look to have this level re-test?
Hopefully I got this bit of information wright :33:
Feel free to comment.
Cheers,
The fib on this chart is pulled from a weekly chart swing. Check the weekly chart, I think you’ll see it right away.
ak, can you tell me where you pulled your fib from…I have GFT and it’s not lining up like yours. On GFT the OTE broke through the 79% and then pulled back into the OTE.
On your chart it looks like price stayed within the OTE.
Thanks
Ok I think I know what your picture is showing now…
Price is between the 50 and 62 extension’s…correct?
I guess the chart is just hard to see…
Thanks
Click for full screen version. The Fib is pulled from June,2010 to May,2011
AK i loved your post about remaining sidelined, but I’m sooo confused on the most recent posts… what is this all about?
Artificial Trader,
AK is basically showing that an OTE on the Weekly chart, if hit is below Oct. lows on EUR/USD. The Weekly OTE starts near the 1.3000 figure and he is trying to drive in the fact that we all need to sit on our hands and wait for price to trade into the Weekly OTE range. Basically since the OTE is under the Oct. lows we think they are going to be gunning for the stops there.
If you look at what I have been saying about TT tools prediction and now look at AK’s prediction about the Weekly OTE forming, they both converge with each other. TT tool on the fiber is predicting price to go near the 1.2815 level which is also below Jan’s low. I would say they are gunning for the stop under January and October’s lows.
I guess what we are saying is we need to wait for at least the 1.3000 figure and see what happens at this level when/if we get there.
GLGT