Just taking a quick look at the USDX, and seeing how it broke a major low, I think the Cable will look to reach 1.6460 which was the high at January 19 of last year or it may even look to reach the 1.6600 level. Maybe not until it retests the resistance turned support.
This is just my analysis for now, definately not 100% sure, things can always change and drop; the recent uptrend does look quite steep. I guess we’ll have to see what London Open brings.
Regards,
Clark
Yeah, that’s exactly what I was thinking as well
Anyone ever thought of buying/selling when all TFs (monthly weekly daily 4hr 1hr) are in agreement?
OK, so I have been a bad boy this morning, ‘monkeying around with the yen crosses’:56: The reason I was looking at them is that my Japanese broker offers a 0.9 pip spread on this pair with no other commissions, and as Sweet Pip was also looking at them last year using the ICT methodology, I thought that they were worth a look. My expectation was that they may provide a little more volatility than Cable during the Asian session. These assumptions may be completely baseless, in which case please tell me now, rather than later!
I actually used midnight European pivots because that allows me to see where we are just as Tokyo is opening (GMT pivots open at 9am Tokyo time and this leaves me panicking somewhat as price action has already started to unfold). I can’t see much difference in the pivot levels, but that extra hour helps me a lot. Any criticism of this would be appreciated.
My reasons for entering SHORT were that we were in the Tokyo open ‘kill zone’, price had already traded up to the Central Pivot which came in at 81.05, just above the 81.00 figure, and made a high there. This was also resistance from previous day’s London early afternoon and London close. As price traded back down to S1, I noted that H1, H4 and D1 were all down. When price started to trade back up, I was looking for OTE, and picked out the 79% retracement because it was just 1 pip shy of the full 81.00 figure. I set my stop loss above the prior resistance and the CP, risking just 5.5 pips.
I entered on a very bullish candle, but had confidence in my trade because all 3 time frames were down, and I also had natural and implied resistance noted. Price actually continued up to the prior high, but my SL was a pip above that so I wasn’t stopped out. I had considered a wider SL of 7 pips which would have taken me up to yesterday’s high, but I didn’t want to risk that much, and couldn’t see any implied resistance at that level.
My exit was at the first real support 10 pips below. I wanted to take partial profits here as I figured that there might be more to run, but I had entered a 0.1 lot on my demo platform, and it wouldn’t let me split it when the time came! I also figured that I had only risked 5 pips, so 10 pips reward was fair. The second yellow line marked on the charts (NOT denoted by an arrow) is where I would probably have taken more profits off the trade. Maybe there is more volatility here, but as ICT said that 20 pips is good for Cable during the Asian session, I was happy sticking with 10 pips for Yen (Does that really make sense considering Cable trades at 1.60 ish and Yen at 80 ish:33:???)
yenmarch23rdexit.gif picture by Alishijo - Photobucket
Criticism MORE than welcomed.
UPDATE: Here we see it did make it right back down to Y’s Low and S1. This would have made a nice 3rd profit level, but I really don’t think I would have considered splitting a scalp into so many levels.
yenmarch23rdupdate.gif picture by Alishijo - Photobucket
I was thinking about doing that, but I think that the chances for all 5 time frames to align is very rare… but I would imagine, it would give you quite the advantage. I wouldn’t solely base my trades off of it, but if it happens to align with the bias then it would be a very nice trade. 
Regards,
Clark.
Great thread ICT. Looks like i am one of the new guys to benefit from you so just wanna say thanx for sharing.
On a side note, i only came across your thread a few weeks after going live trading and although my system’s result so far is small losses with parameters, i have decided to stop trading for awhile and see whether i am able to apply what i learned from this thread to improve it further or even simply changing it.
But i am facing the problem since your methods are not really mechanical in the sense that u enter trade when A, B and C conditions are met etc so how do u come up with a trading plan to stick with it? Of course i understand that for your level of market understanding, your trading plan in already in your mind but for us newbies it will be hard for us to do that.
Sorry if anyone had asked earlier as i am still only 3/4 way reading thru all the posts in this thread.
For me, it was like being given a few really good tools. Yes, sometimes some don’t agree with others but once you get the hang of them you’ll pick up on when to use which ones. Main example being the idea of trading with the 4hr market flow along with either the 1hr or daily but S/R trumps market flow. This just came up with GU hit the 1.64 level. All timeframes were suggesting bullish movements but we were at a good resistance level. Another is only taking longs under the central pivot and shorts above it. Sometimes you will find a good long above the pivot or a short below it. It’s definitely not mechanical, just something you have to practice with to understand the key concepts.
I’d work on grasping all the tools/concepts he presents and just start demo trading with them. Shouldn’t take long til you get used to it 
ICT, where ya been? 
Anyone else looking at EURUSD London close? ADR High filled. H4 H1 down. 79% retracement to 1.4200 figure on 4 hour timeframe. OTE looking to set up on M5 (currently waiting for it to make a nice 20% retrace of ADR). SMT divergence on the 30M-5M.
eurusd24thmarch.gif picture by Alishijo - Photobucket
Update: 20% retrace of ADR filled. Let’s see if she comes back, and how far.
Anyone have a clue why the GU acted in opposite direction the Euro today?
Dunno, but look at EURGBP…more than twice its ADR on my platform!!
German Services PMI = good . GBP Retail sales = bad ???
End of London close and I am off to bed! This was my trade for tonight: 30% off for 30 pips. 40% off for 17 pips. Leaving 30% in the trade with a 21 pip stop loss because I like the long term resistance at this level, and if it comes off nicely and I got out for a scalp, I’d be kicking myself! Isn’t it rare to see a London close trade over the ADR that is in sync with the H4 and H1? Normally it is counter trend. Fingers crossed and eyes closed - I have eliminated the risk already with my 70% TP, so should sleep soundly.
eurusd24thmarch2.gif picture by Alishijo - Photobucket
Update: Woke up and Fiber has not come down over night. It is 10 hours since I entered the trade and I have now talked myself out of continuing to hold it. I think that a bullflag could be forming, and that we are trying to get to the old high at 1.4280. My reasoning here is that we had very bullish action on the EURGBP yesterday, and although this may be partly due to GBP weakness (GBPUSD also fell yesterday), I can’t rule out the possibility that positive things aren’t occurring for the Euro. I guess it is at times like this that I wish I had a better understanding of the fundamentals.
So anyway, this is the latest chart:
eurusd25thmarch.gif picture by Alishijo - Photobucket
I took the remaining 30% off for 30 pips giving me a total average of 25 pips (300.3 + 170.4 + 30*0.3) for the trade. If it does come down, then I won’t be kicking myself because I took profits AND I have learned a valuable lesson: I don’t like waiting around uncertain as to whether a longer term trade is going to work or not. I think I might be a scalper or day trader at heart…whether it be a profit or a loss, you find out quick enough and move onto the next set-up. For the time being, I have other non-Forex business to take care of, and I really do find it hard to concentrate on anything other than the trade once I have pulled that trigger! Now that I am out, I can go about my daily business with a clear head, and look forward to finding more set-ups tonight.
Thanks for reading, and GLGT!
P.S. Progress so far with the London Close ICT Scalping Method:
Trades taken: 7
Winners: 5
Losers: 1
BE: 1
Pips gained: 78
Pips lost: 10
Total pips: +68
Looking forward to more tips on this particular ‘kill zone’…no pressure!!
Hey guys, back from a couple of days away from the charts.
I entered long on Cable London close at 1.61 for low risk with todays low of 1.6090 as my S/L. I didn’t take profit at 1.6124, which I probably should have for an evening scalp and price is back at 1.6105 but I’ll set T/P to 1.6140 and switch off for the night (yeah right:37:)
Anyone heard from ICT is he over the dreaded lurgy? Get well mate. Dunc
:34: Hello folks… just a quick note to inform you I am feeling better, just resting and building my strength. I took two trades this week and will detail them in the PTC video. It looks like we made new friends by the looks of the thread and poll. That always makes me feel good… welcome!
It’s funny how you post and tell us to avoid taking longs above the pivot and shorts below it and all this week it’s been longs above the pivot and shorts below it lol (I only trade GU for now as I’m just trying to gain discipline and consistency). Havnt traded yet this week o.O Glad you are feeling better though and looking forward to the next video
What session time are you trading Hello? because there was a classic london open trade on wendsday - asian high failure at MR1 (sell zone) then an OTE in the kill zone, traded the 4 pivots, it was a classic ICT trade. I’m not trying to be smart because I’m usually the last one to see these things (maybe some of it is finally seeping though my very thick scull).
Anyway my point is if you got that trade it would have made up for the other pivot high ones, over the last week.
Wally
Yeah, I missed that one lol. With my 20/20 hindsight I do see that that trade was correct to enter but at the time I was lookin at the market I just didn’t see enough to convince me to enter. Oh well, there’s always next week
Glad to hear you’re feeling better. I was starting to feel lost without our shepherd, lol.
Are you planning any sort of regular London or NY open chatroom sessions? I really want to sit and see your active thought process 
Glad to hear you’re feeling better ICT! Hope to see you back in action soon Meanwhile, take care!
Regards,
p0w
Great trading Alishijo!
Nice track record, I’ve just got one quick question, has ICT released his London Close Scalping Method?! I’ve been waiting for a couple weeks now, and I thought he was still in the process of completing the information.
What London Close Scalping Method are you using? Am I that blind that I can’t find it on this thread??
Thanks,
Clark.
Hey clark, I may be wrong but the london close was reviewed in one of the PTC video, basically where you watch the ccharts from 10am est to 1pm est , and in that timeframe price can sometimes form a low or high, and start to retrace back into the current daily range…I would try to explain it in more detail but I’m typin from my phone! Ill check it out when I get back nd see what video it was in, like I said I maybe wrong but this might be what they are referring to!
—it is in PTC 02/02/11
