Help!!! I am finding it difficult to pick a good spot placing my limit orders. Would anyone be kind enough to post some examples with charts in real time so that i can see a trade evolving?
I’m only on a demo account for the moment until i fully ubderstand this but i do truly believe that price action is the best / only way to trade.
I totally get the principal of it i just don’t seem to be able to put it into practice. Really appreciate everyones patience:o
I closed the remaining third of my trade position after a failed break of yesterday’s 1.5208 Hi.
After the fourth number was filled at S1 1.5169 Sterling stopped 3 pips short of yesterday’s Hi at 1.5208.
A good place to close the last portion of my position.
This high probability/low risk trade with the PIVOT method netted me 198 pips.
lol…I think I understand your initial confusion with the terminology…putting it in MT4 terms, it simply means his take profit (limit order) was hit first. The protective buy stop is the stoploss. So whichever is hit first (filled), it closes the position. So yes, he got down to 1.4099 
Ok, here’s an example of 2 different bounce timings…
In used’s screen, the hourly candle hits the entry (buy) zone, so then we drill down to the 5m for the entry. So after the initial bounce, he set his order and it was filled in like 10-15 mins (green box 2 bars) after that.
Now this screen is the 15m of the bounce down off 1.5207. (I can’t drill down to the 5 for some reason…technical glitch in these online charts…I’m at work…lol) So after that we’d set our pending sell order, and 2 hrs later it comes back to retest again.
Is “when” a retest occurs, of any consequence? I don’t mean time of day/session or in relation to news releases in this question.
I suppose this retest failed due to the FOCM? 
“So after that we’d set our pending sell order, and 2 hrs later it comes back to retest again.”
This is not clear to me. Please refer to time of day of the pending sell order and the retest. Thank you.
Sorry I had a typo :o…this online chart for some reason only shows the 1.5 part of the price at the right side…so that was on my mind I guess. I meant to type 1.5207…and am referring to the last dozenish bars at the right. I have corrected my original post.
Hi Sweet Pip, thanks for answering my last question.
I’d like to know your opinon about this.
In Used’s example, I see the ‘re test’ was another swing, but it didn’t go beyond the previous low. I understand the reasons he had to enter in this particular trade, but I also see no reason not to wait for the re-test beyond the previous low. Although in that case I would’ve missed the trade.
Regarding your previous question, I think it does have to do a lot with the time of the day a re-test is done. In this case, cable made the re-test of the daily high past 12:00 p.m. est, which I believe is a period with very low momentum. Session overlap is gone, lunch time, etc. Although I also would’ve expected that important daily swing that ICT mentioned takes place at 11:00 a.m. Est, but definitely not a good time of day to me.
Also, I want to ask you if you have tried the strategy during Asia session.
Ok ok lots of questions sorry about that.
Have a nice day!
Thanks but what is the pending sell price you are setting? Something is not clicking.
I’d also like to quote ICT since I think it’s related to your question.
I think it has a lot to do with the early hours of the session you’re trading. In this early hours I guess it’s a matter of "fundamentals are contained within the technicals’ wether it’s news of current price direction. In the late hours, 12:00 p.m. est in the case of cable re-test I guess it was just filling numbers and running out of gas.
Just my thoughts.
1.5207…to the right we see price come aaaalll the way up from 1.49ish area and hits the line that says 1.5207…then it drops again, just a little, and comes back up and retests 1.5207 again 2 hrs later with in a big mean green bullish bar…lol. So this were we’d be putting in a pending (MT4 terminology) sell limit order. Unfortunate if we did because we wouldn’t have known that that big green bar wasn’t going to stop going up :(.
Finally, whew. Thank you. Big green bar went up about 3/4 way from R1 to R2.
Hi
I agree that time of day session is important when placing orders in general due to the reasons you say, however my question has to do with the time …how quickly price bounces…between the original bounce and the retest bounce.
The example of used’s bounce took like 15mins to fill vs. the 2nd example which took 2 hrs. Another way to look at it, did useds order get filled due to price just flailing around around that level after initially reaching it, or should it distinctly move away and then come back as it looks in the 2nd example?.
Just trying to establish some min & max guidelines cause if I’m expecting a retest to look something like the 2nd example, I would have missed a perfectly good entry (when used took it), because it wouldn’t have looked like a retest.
Seems to me there are some definite trading windows. We will have to wait for ICT to tell us.
Do you see the following:
If you answered yes to many or all of the above… you are well on your way to professional trader status. 
Question. I like others saw the daily low close and a support level very close together around 1.5020. If I would have placed a trade today and went to bed I would have shot for that level. There was even a massive bearish bar to trade into. What prevented people from thinking that would be the turning point?
Ok, maybe this pic will illustrate my question better. Let’s say at least 3 conditions, pivots etc, were good for a buy when price was at the low. Now just waiting for a retest as we think it should look…but it didn’t…however some traders placed a buy there anyways…but was it placed using a truly smart money method?..compared to now when price is at a high and we see a more distinct looking retest… or double tops. I think it’s important to clarify.
I am going to take a break from posting the rest of the week, just to rest more than I have been. My ribs are very sore and sleep is a must for me… I will check in once a night to see what observations you all might post and any Demo trades (:)) you are finding success with.
I will return to posting Saturday afternoon/evening.
Keep the feedback coming, I find it rewarding to read others are seeing the tools shine. If you ask a question directed to me, understand I may not respond until this weekend… please understand it’s not me ignoring you.
Good Luck & Good Trading! 
my view is there is no hard and fast rules when trying to align with the dominant market flows, a retest could be anywhere from 5minutes to a couple of hours or more IMO. You need to be flexible and prepared for whatever they are going to throw at us, never always going to be the exactly behaviour
By travpip at 2010-03-16
the was a massive bearish flag formation, which meant it was highly likely to break down through that. You have to have the whole picture
When the term retest is used it can be a retest of a Support days or months ago… the retests that occur within the same trading day are all together different and I will describe how each are to be traded later on… up to now, I have aimed to get you all looking at the general market conditions that repeat over and over day after day.
I’m sure the questions are coming but when we have more material digested it will likely answer your own questions.
Just work with the concepts as we tackle them… and resist the temptations to look beyond the scope we are currently within.
It will all tie together… put the time in and work with the pace…
