Cable&Fiber: Intraday Setups

Offline the golden gun

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Hello all,

This thread will feature primarily intraday setups on the Cable (GBP/USD) and the Fiber (EUR/USD). ICT was my main mentor so you'll see a lot of his concepts show up in my trading.

My goal is to show at least 100 pips worth of winners each and every month... well maybe not December, haha (hohoho)

If anyone wants to contribute their own Cable or Fiber ICT-inspired setups, please do so!

Offline the golden gun

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Trade: Cable Short
Key level: 6840
Entry Pattern: Reflection (OTE extension zone)
Potential: 140 pips


Offline Piper

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Nice easy catch.. Why isn't the order on btw? :P

And whats wrong with december? :o Don't be a racist gunner,shoot 'em all with no preference! I thought you are better then that.. ;)
You decide your fate; the market doesn’t.

Offline the golden gun

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Nice easy catch.. Why isn't the order on btw? :P

And whats wrong with december? :o Don't be a racist gunner,shoot 'em all with no preference! I thought you are better then that.. ;)

The screenshot you shared doesn't really frame an ICT style trade. I was really hoping to simplify this thread into purely ICT style trades on the Fiber and Cable.
Thank-you.

Offline the golden gun

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As for late-December trading, there is a lack of institutional sponsorship for my trade setups, so I just avoid trading around Christmas. There's still setups in December, but with limited opportunity, I didn't want to make claims that I wasn't confident I could fulfill.

Offline Piper

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.. I didn't want to make claims that I wasn't confident I could fulfill..

That's the problem, once you know that you can't be sure of anything, then you can be sure  :) Mark douglas kinda brain f*ck.. I think that's why Engineers,doctors,lawyers and applied science guys having it hard in this discipline.. Cause maybe they feel that investing is in their blood,but you can't expect anything.. ;) Anyways enough babbling.

 You haven't specified that ICT trades only on the headline..  8)  :hijack: soz for the "clutter" (last teaser attached,telling ya... its the carrots.. :P) And would suggest also,if you want it to be credible,either orders on, or tickets. Since i could trade everything when i look left.. ;)
GLGT

-P
« Last Edit: August 14, 2014, 01:51:48 am by Piper »
You decide your fate; the market doesn’t.

Offline the golden gun

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That's the problem, once you know that you can't be sure of anything, then you can be sure  :) Mark douglas kinda brain f*ck.. I think that's why Engineers,doctors,lawyers and applied science guys having it hard in this discipline.. Cause maybe they feel that investing is in their blood,but you can't expect anything.. ;) Anyways enough babbling.

 You haven't specified that ICT trades only on the headline..  8)  :hijack: soz for the "clutter" (last teaser attached,telling ya... its the carrots.. :P) And would suggest also,if you want it to be credible,either orders on, or tickets. Since i could trade everything when i look left.. ;)
GLGT

-P


I think showing my proficiency with the tools, even after the fact, is sufficient credibility for my Ego. I'm satisfied with what I'm bringing in from these tools and the setups they help me spot, so there's really no motivation for me to try and convince you of anything you don't want to believe.

Think of this thread as more of a Trader's Art Gallery, rather than a reflection of my ability to make money in the market... which shouldn't concern you anyway lol.

Offline the golden gun

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This is the real idea behind the reflection pattern, shown visually for your amusement. To me it makes sense, it just gives an optimal zone to look for when you're expecting an aggressive stop-run.

Offline sqa

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ICT mentioned he mostly uses it for:

Finding "Tops" in a *Bearish* environment.

Finding "Bottoms" in a *Bullish* environment.

In other words, it's another form of Retracement finding, as that's its power.  It's a little less accurate when you're attempting to catch an extension End point.

Offline the golden gun

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Trade: Cable Long (scalp)
Key level: 6692 (as target)
Entry Pattern: OTE extension
Potential: 30 pips

sqa, I see why he would say that, it is the highest probability. But there are times that I find it extremely useful in marking out false-breakouts. It quantifies the nature of the stop run, which allows me to take counter-trend scalps like the one I showed here with great confidence.

Offline sqa

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It's still useful, but I can see why ICT would favor it for picking retracement Swing Points.  Kind of like I did today on the USD-JPY.   ;)

Offline the golden gun

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It's still useful, but I can see why ICT would favor it for picking retracement Swing Points.  Kind of like I did today on the USD-JPY.   ;)

Feel free to share it here, it's nice to see the concepts working on the other majors as well.

Offline sqa

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Feel free to share it here, it's nice to see the concepts working on the other majors as well.

If it holds, I'll post it.  The USD-JPY woke up for about 8 days, now it's back to being the UJ of June/July.   Which means my level is probably completely safe, but it's not absolutely confirmed yet.  So, waiting on that.

Offline the golden gun

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Here's something that I'm scouting:

look at the compression of the CDRs into one narrow price range.
Daily chart suggesting institutions are still selling, so leaning towards selling a rally here...

Offline sqa

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UK GDP as well, with Cable following a similar setup today.  Should be interesting.

Offline the golden gun

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Scouting:

potential Multi-week buying opportunity, if this OTE+Key level holds price up...






Offline Kuzia

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I have an order to sell at 1.6755. But i understand your setup and how u arrived too. I wonder what Michael himself would do in such situation...

Offline the golden gun

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Here's something that I'm scouting:

look at the compression of the CDRs into one narrow price range.
Daily chart suggesting institutions are still selling, so leaning towards selling a rally here...

Continued:

Trade: Fiber Sell (multi-day)
Key level: 3406 (Previous Day High)
Entry pattern: Stop Hunt
Potential: Partial profits (30-50pips), + ongoing potential


This is a great trade for taking partial profits. This should be a risk free trade with further downward potential.

Offline PipHanger

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Potential Setup - GBPUSD

OTE: 1.6800 to Previous Weeks Low
Reflection: Monday's Low to Monday's High
Key Resistance: 1.6765

Confluence within 15pips for a Sell Limit Order at 1.6750 during LO only.

Offline the golden gun

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Potential Setup - GBPUSD

OTE: 1.6800 to Previous Weeks Low
Reflection: Monday's Low to Monday's High
Key Resistance: 1.6765

Confluence within 15pips for a Sell Limit Order at 1.6750 during LO only.

I see a big liquidity gap between 6740-6790 from the news-based selloff last wednesday (Aug.13)
I feel that if it catches a Bid big enough to get price above 6740, it'll be big enough to take it to 6790. There's just nothing between 6740-6790 to stop price, it's just a big orderless vacuum.

The only space I could see some Sell orders being is just above Monday's high, up to ~6755 at the highest, where there is that Low from Aug.12

Of course all I can do is share my own opinion, which could very well turn out to be wrong, so don't let me distract you from your gameplan.