I went short on GU today. The confluences were institutional level 1.6080, Daily M3, Asia session high, and the 79 retracement level of the move down. 1hr, 4hr, and daily fractals were all down. Price was in the sell zone. I set a limit order at 1.6079 and set my stop loss above the trend line at 1.6107. Stop loss was hit for -28 pips ($56). Where did I go wrong?
Apologies if I am posting out of turn, but I took this pair Long last night - I would not have shorted based on the Hourly as the Daily chart did not agree, and I generally defer to the higher timeframe. Price on this pair has been reacting well to the 50ema for quite a while, so the low test for yesterday on the Daily made my bias Long.
Thatâs the fun in trading - you can often make a case for both Long and Short, depending on the strategy/timeframe!
ST
Hi newbietrader, I ended up going long around 1.6035. You know, itâs funny, you can show the exact same chart to two different traders, and one will go short, the other long! But I guess, you canât have a market without at least two differing viewpoints 
See my comment a couple of posts above yours on why I personally wasnât looking for shorts today
EDIT: Adding to what SimonTemplar said above, a case can indeed often be made to go both long AND short. And both could be correct, depending on timeframe. For example, I may be in a long-term short position, and many other traders may profitably short-term trade the retracements long. So as you can see, timing becomes important (Iâm not suggesting there was anything wrong with yours).
Hey newbietrader,
I went long as well on the trade during london open, H4 was favouring a long bias, while H1 and Daily were signaling shorts. But based on the previous drops from last week, I felt price would try to go long again. If you check some long term signals, such as Open Interest, and Backwardization, the Cable still has a large demand, as such, one would expect price would go higher, Mondayâs are typically nice too. I check some advisors and most were all in the âStrong Buyâ for the Cable, I donât follow them to a tee, but I do use it to double check myself.
During London Open, there was a three candle OTE (7:30, 7:45, 8:00 GMT). Price landed right on the 79% and went shot straight up. Keep in mind that price was also on the ADR Low. Had one looked at the 5Min chart, the OTE looks really clear!
Took the long at 1.6033, SL was set at 1.6020 and aimed for just below the ADR high at 1.6100 institutional figure. Fell asleep on my laptop, woke up to see price 25 pips above my TP, but still glad I got away with around 60pips w/ spread. And just got a trade off with an almost 5:1 reward to risk ratio whilst risking 2%.
Only problem I feel is that I had put my SL too tight, which I have been doing quite a bit lately. Iâm starting to feel paranoid about that now⌠But weâll see I guessâŚ
Regards,
Clark.
Pro Traders Club video highlights this setup⌠video is processing now should be online by Noon. 
GLGT
They had a go at itâŚbut itâs not the major moveâŚ
Cable has done 110% of itâs Avg. Daily Range. A Cable swing lower would be expected. The are aiming for 1.6340/80, Amigo.
Dollar Index is above itâs Weekly Open because of the JPY and sitâs in that 76.50 - 77.00 channel.
Keep an eye on the USDJPY chartâŚthey are trying to gun for Stops below 80.00.
I donât think they will get there because of BoJ but if they do this will turn ugly for Cable, Fiber and the JPY crosses. There is a lot of money pouring into the JPY.
Good luck.
Manta thatâs very cool and thank you for sharing with the followers of this thread. 
GLGT
My pleasure Mike
GLGT
Thatâs awesome! Thank you ICT, Iâm very glad that I am finally understanding your concepts. =)
Regards,
Clark.
I will share one soon enough⌠just stay tuned. PatienceâŚ
ahh, thatâs nothing. I have another version where you can choose to calculate only H1-H4-D1 Timeframes and some other small improvements, but Iâm sick and donât really have mood to write any code now. It should be ready in 2-3 days.
If you have some suggestion for improvements, just let me know.
I stay away from event driven markets like this⌠and I honestly stay away from the Yen crosses anyways⌠I never liked them to be honest. I traded them profitably yes⌠but I have a âfeelâ or comfort for the Cable and Fiber and sniffing around another plate when my plate has plenty⌠well⌠you know.
I have no opinion or analysis to lend as it relates to the Japanese and itâs currency. However, I prayerfully wish them well and healing⌠such a mess they have experienced. We are blessed arenât we as we sit in our dry, secure homes and offices⌠I feel for those poor souls and the children that had to experience this horror. God help them.
Sorry if that leaves you empty handed⌠but I simply stick to what I know and live there.
~
GLGT
Uploaded Pro Traders Club video to youtube⌠they are formatting the playback right now⌠should be viewable in 15 minutes or so.
I was just monkeying around with the Babypips chat room and discovered we can create our own chat rooms⌠I wasnât aware of this⌠so⌠I will be removing the lifeless chat room on my blog and will simply meet everyone in the Babypips chat room named obviously⌠âICT Pro Traders Clubâ.
Iâd like to meet this week for a London Session live analysis⌠anyone up to it?
GLGT
Yes what time are you thinking. Also until the 27, london is only 4 hrs ahead ( I didnât know that)
Edited miscalled date on the latest video
Hello, great video as usual too bad I was not able to take London trade but I took NY OTE at ~1,6115. Trade was confluence of 38.2 fib R1 and average daily range was filled. OTE was taken at those confluences on 15m chart and cable did move in favor for about 20 pips, couple more and would have moved sl to be, but trade failed miserably moments later. Despite the fact that trade was a loss I am pleased with it, the only problem is (which is obvious in hindsight) shorting reserve currency at a time of disaster. Anyhow I am thinking of checklist for entry and confluence which does not involve s/r that can be seen from a moon is not that great of a confluence.
To add I too would like to participate in live analysis but I doubt of having time to do so.
For sure, as you say the existing room is a bit lifeless
I had a loss today because I was very sloppy in my setup. AT NY I saw the 4hr and 1hr were long momentum and price was bouncing off S1. I took the bounce off S1 to mean the price would fall and traded short at a really! bad spot. Looking back, price was bouncing through S1 (Resis) and Asia High (supp) but I didnât mark the Asia channel so completely missed that aspect. In the end was stopped out with at 22 pips.
That would be awesome!
I was looking to go long at S1 today but my order never triggered
You can count me in.