i got in the same trade and covered at roughly the same spot, and was happy, made about 50pips, i had shut up shop; but then i decided to reenter short on the retrace and got burnt:mad:, took a loss of about 30pips have now shut down the platform, still made some profit though.
That retrace was pretty vicous, no follow through of the initial move, those market makers or the big banks are tricky players.
like youve said before i should of took the money and run
okay, think i am finally begining to understand this:)
Just one question… should i be looking for the retest of a particular level on the 15 min or the 5 min chart. I know that i should use the 5 min for my entry but should I see the retest on the 15 min chart first?
i think you will see the retest best on the 5 minute, but it is the level you are playing to so it wouldnt matter even if you were on the hour chart, though to see how it is reacting the 5minute will tell you first then the 15minute will tell you next and so on. Identifying the level and knowing how it will react is the key.
If you were patient and then[B] brave[/B], this trade fit most/some/all?? the criteria for the ICT method here tonight and you would of entered the trade on that last 5minute bear candle before it reversed for 100+pips.
However there was no retest, so maybe then again not, except on perhaps that fourth red pin bar after the 3 blue bars, were it retested the 1.4991 level
By travpip at 2010-03-16
protective buy stop 1.5080 canceled upon limit fill.
could someone explain this to me. did ICT get stopped out with the last 10% of the trade as it retraced to 1.5080 or did he get the lot down to14099? cheers.
his last 10% from his trade got closed in profit at the at 1.4999 (about 200pips on that part), then as the protective buy stop order never got used it was cancelled/deleted. if it was left, with some usa brokers, it is still an active order and could then get filled meaning you would be in a buy position as there was nothing to offset/cancel.
Thanks trav72. Can you tell me where you would have placed a buy limit in your exmple which would have triggered if there was a retest? I understand the comcept but i am struggling with the placement of the orders.
Sterling failed to make new temporary daily Hi with the first three 1h candles of the day bouncing off the Today’s Open at 1.5056 as resistance.
Starting at the fourth 1h candle Sterling Shorts pushed price through M2 at 1.5138 & yesterday’s Lo at 1.5020 below 1.5000.
After this first bounce [yellow square] I entered with Limit BUY Order into the bear candle [green square] with a 30 pip protective STOP at 1.4969 covering the distance to temporary today’s Lo at 1.4974 & an extra 5 pips buffer.
Sterling reversed after touching 1.4986 in safe distance from my proctective STOP.
Covered 1/3 of my position at 1.5056 prior resistance & daily open. Moved STOP to 1.5023: 3 pips below yesterday’s Lo.
Covered another third of my position after Sterling made it to today’s average range resistance at 1.5110.
At present Sterling is 1.5117 15 pips away from M3 at 1.5132.
Triggers for this trade:
temporary new present day Lo being formed
round number at 1.5000
below Pivot Point in BUY zone
failed to test & break prior weeks S&R
bounced off average day range support at 1.4992
Another high probability/low risk opportunity that’s still live & playing out nicely.
Thanks for taking the time to give us this info and explain it as well as you have ICT. Makes a huge difference.
I picked up this statement when I was re-reading the thread today. Is it something you are going to expand upon later?
with hindsight, i think the level were ICT took his profit at 1.4999 level, would of been an ideal position to have your long order placed, but i dont think many people here would of been able to pull that off, though it would of been nice.
Actually, just reading USED post seems to explain it all, with another superb trade by him. Looks like he is on his way to becoming that elite trader
that is superb and amazing, yet you simply followed the instructions and it has worked brilliantly
Was just thinking the same thing. Great trade used:D
I have so much to learn. And there are so many levels and things to look for. But it’s awesome that the price action is doing what it’s doing based on sound principles.
Woke up this morning to see the quick drop in price and then the up trend. Got it when it broke through the pivot and exited just as it hit R1 (could have stayed in but I needed to head to work and couldn’t monitor the trade, so I figured I’d take my profits).
Congratulations [B]Used[/B]! 
I also benefit today, entered at 1.4985 exiting at 1.5085. The Sniper stuff feels really great 
Best regards
Saw this setup earlier today on eur/usd.
Looking at the hourly, I had my central pivot point at 1.3698, and a s/r line at 1.3702 from a swing high about a week ago.
Price slowly crawled up to my resistance lines, and at what I thought was the send retest, put a sell limit order in at 1.3694 for my entry, with a stop 30 pips away at 1.3724
Turns out there was still a second retest, but price dropped away pretty quickly after that. I put a buy limit order in at 1.3660 for my TP around the last swing low as I couldn’t be at my screen for a while, and it got filled.
Trade reasons:
- Central pivot point
- Historical resistance
- New daily high
- Stochastics overbought
I have since realised that price was around psychological 1.3700 as well, which would have been another reason.
Shorting into the R1 on gbpusd at 1.5169
Yeah, I just followed the instructions.
That’s all, really,
The last portion [1/3] of my trade has passed M3 at 1.5132 & R1 at 1.5169.
So 4 numbers are filled now.
I moved my STOP to 1.5110 [previous ATR resistance turned support]
Trade is still open.
I have been looking at the charts all day since early hours in the morning and I am amazed how it unfolds as described in the thread. Given me hope aiming for 20 pips by friday close, can do it with my eyes shut on demo, but with real money I find it a challenge Thanks again.
Bailed out with a 3 pip profit just in the nick of time… whew
as a lurker I have always wondered about this Forex trading being rigged or a fool’s gold hunt
After reading this thread I am amazed someone can see these turns in the market before it happens!
This thread is a ggold mine of information and I hope it continues in the same direction.
I am convinced this ICT guy knows what is going on. I thought last week was just a fluke and the moves were hindsight trickery.
I did what he posted and a demo account would have made over 500 pips in a matter of a week!?
Surely Babypips has snagged a whale in this thread… my vote we thank a real trader for dispelling the myths this Forex game is unwinnable.
WOW:eek:
Re-reading it tonight! Though i cant find the piviot pints in metatrader 4, i did find the “pivot points daily shifted” indicator posted by used i believe, but my numbers differs:confused:. Will go trough the thread again, really good stuff!