I was thinking this would be a cool thing to have too. Glad someone posted this. I’m going for the red pill team.
Piptronix,
When you look at higher time frame, you can maybe expect to see the price go lower. So definitely the gap should close down. Today, tomorrow, this week next month … Do not know !!!
As of now, the market flow is down on the H4 & D1.
I think we will have answer to you question in the LO session.
So, I stand still until then !!!
Cheers,
Thanks for the response Bucknaked.
I’ll be watching too.
That’s all I’ll be doing for the next few weeks. No more trading for me until I catch up with the class, no matter how long
that takes.
Me too, well 1.3305.
Nice resistance with the previous three days high/lows and 1.3300, bearish divergence on 15 min SMT, 62% fib retracement based on Thursdays high to Fridays low. Ive also got my eye on the 1.3320 figure. My initial stop is just above that at 1.3330.
So far so good, took first profit at 20 pips so now im BE and aiming for GMT CPP.
Ahh, just stopped out on the remaining part when price restested R1. I tightend my stop to soon. Ahh well nvm. Good start to the week 
Just traded the gap on the GU. I had drawn fibs on Friday’s trading from the high at 1.55175 to the low of 1.5429 with OTE resting right at about the 1.5490 level. There was also a small supply/demand zone that price had fallen from during Friday’s London Close between 1.590 and 1.5484 as viewed on a 2 min chart. R1 for today is 1.5494. Good indication that price would trade up to OTE and then try to close the gap. Had my first profit target set at 1.5470 which was hit, moved my stop to B/E and the trade was stopped out before my final profit target just under the PP at 1.5455.
nicely executed!
You made 20 pips, now take the rest of the week off . Well done.
It’s nice to see everyone posting up their Sunday Gap trades today…
Once I’m stopped out or take profit I will screenshot and post mine up…
I just know thats gonna come back to haunt me lol
…cant wait…
Does anybody have a copy of the ultimate traders worksheet?
When I click on the link it takes me to the 4shared site, but there’s nothing available there.
where can I get it?
piptronix, this should help you out…
Thanks a lot PIPhanger for that quick response.
We may not even entirely close this gap IMO… the retracement back to around 1.3280 or maybe 1.3250 may be all we get… of course I could be wrong…but I see pretty clear indication on just about every major pair for them to reverse the trend they’ve been on (at least for 150-300 pips) before they make new lows/highs.
bottom line, I have bearish usd expectations until the euro hits about 1.3430 - 1.3600… and I’m strongly leaning towards 1.3500 as a likley turning point… but I could be totally wrong. I often am.
Jay
Thanks PIPhanger, that’s what I was looking for. Could have sworn it was posted on the first page at one time. I’m starting to feel like a sluff today with everyone finding links for me 
Jay,
Glad to see you posting here now and then, Ive read some of your thread and think you have a lot of great info to offer us. you may be on to something there. ICT did mention to us that a move up was necessary before a move down can occur and that may be just what the market needs right now in order to continue it’s move down.
Hi Jay
Do you mind elaborating a bit? Is your analysis on the turn around based on ICT’s methods? In other words, a divergence on 2,5, and 10 year bond yields, or extreme values reached by the commercials and speculators.
What about open interest? How about the USD index?
I’m pretty new to this method, so I just wanna hear some expert opinion to help put it all together.
Here is my trade for the EUR/USD Whiplash Short on the Sunday Gap…
First I want to say I first entered the Sunday Gap on the GBP/USD since it gapped up and then ran up into an OTE from Fridays High to the nearest low around Friday’s close.
- Entered at 1.5490 and closed trade at 1.5470 for 20 pips, I thought I had 2 lots and was going to let the other one run after moving stop to breakeven but found out I only had that one lot opened.
For the EUR/USD if you increase the size on the image I posted text commenting on the trade I took for the EUR.
I know a lot of you are saying that you should be happy with the 20 pips, but I’m in the learning stage right now and want to try and pick out trades before they happen and learn from them afterwards.
So lets see how this one pans out.
Right now the EUR/USD trade doesn’t look to good. It’s just going side ways…
Let me know what you think of these two trades and if you have any comments it would be greatly appreciated.
If you can’t read the text in the image here is what it says…
For the EUR/USD pair, since the gap was up on Sunday:
- I waited for price to travel upwards into resistance which 1.3320 is a great resistance level on the 1H chart.
- This is near the S1 level of today.
- I waited for price to then travel downwards. Once price started heading up again into the resistance level I pulled my fib.
- I waited for price to get to the OTE and in the OTE I placed my entry on the 1.3310 level.
- This pattern to me looks like the Whiplash Short pattern that ICT gave to us in the Asian Session Video.
I opened 2 lots
Stops are at 1.3330
Take Profit 1 is at 1.3290
Take Profit 2 is at 1.3270
GLGT
[B]Got Stopped Out[/B]
Pip… I’ll elaborate a little bit for ya since you asked…and no…my analysis is not based on ICT’s methods. I actually am somewhat amused (but not very surprised) from time to time to see his students (and presumably him) taking trades in the same direction and sometimes from the same price that I am, even though we really do use different tools to derive our trading decisions from. Just goes to show that good traders think alike…and I’ve found so do bad traders for that matter
I don’t pay too much attention to bond yields…though I have done much more of this recently during the euro crisis. I ABSOLUTELY look at extreme values on the COT index. ICT and I are both fans of Larry Williams (him even more than myself), and I personally can say it is the single most powerful mid to long term trend reversal indicator i’ve ever come across. ever. It deserves all the emphasis he puts on it and more. Although… that’s not my strongest reason for my opinion right now.
I do watch the USD index every day…and that is one thing I’m seeing right now that is substantially overbought. I measure overbought and oversold in a variety of ways, but one way I do it is look to see where the market made a significant turning point in the past. when it returns there…expect it to go the other way.
And right now, I’m seeing all the majors pretty much at significant previous turning points, and yet none have really pulled back much. I also see the dollar index at a similar turning point. I honestly haven’t seen this very often… and Can’t recall the last time I did see so much confluence across so many major pairs at the same time.
Also, Sentiment last week seemed to improve in europe to the week before. I"m not saying people are celebrating mind you! but…well, the market reacts not so much to factual news…but how people FEEL about factual news. And right now, there is nothing new and catastrophic coming out of the E.U. Sure…things are bad, but nothing UNEXPECTED is happening. Everything bad is already been expected.
Without a new surprisingly bad element, whats there to encourage folks to sell? I mean… if you haven’t sold yet, your probably not going to, right? And…with such a drop and little correction to it… that means a lot of the major hedge funds are short… and likewise with most of them short, someone will take profits.
This profit taking will push the market up a bit…and then, the NEXT guy will take proifts…pushing it up more. now, some shorts will see the market pushing up on their position, and they will get scared and cover…this pushes it up even more. and then, some folks see the market moving ups, and will just go long to ride the move.
You see…the market is constantly searching for how it can make the most people lose the most money the most amount of the time. Since everyone expects it down… the vulnerable positions are on the short side… and therefore the market will push up and stop them out. Not to mention that the COT index shows commercials have been accumulating euros…as they always trade counter trend…and the commercials are the most powerful of all the “smart money” (the make up about 55%-65% of the markets activity)
I don’t want to steal any thunder here… so i’ll refrain from posting a link to my stuff, but if you want u can take a look around and find my thread specifically for mentoring. I’m almost positive Michael won’t mind me posting a link…but still, I don’t want to distract new folks who are tyring to learn his methods…because it can be hard enough on the new guys to learn one thing, let alone two…and his methods work very well IMO.
I hope this clears things up a bit. Essentially, ICT and I do one thing in common constantly… In our own ways, we find out where the new, uninformed, amature traders are buying, and we sell to them. Conversely, we find where the new, uninformed, amature trader is selling…and we buy from them.
One can make a fortune taking the other side of the trade of habitually incorrect, losing traders. We both measure this in different ways, but it results in the same thing: buy from losers while buying alongside pros. Sell to losers while selling alongside pros.
Hope this helps
Jay
Thanks Jay for that long post, much appreciated and I took away a lot from that…
Here is something I found very interesting on the GBP/USD 1H chart…I used the TradersTrinity tool and my fibs.
Look at the OTE, it’s sitting right in between the Sell area of the TT tool…
This could be an indication that price might be trying to retrace to this point.
What do you guys think?
