Hopiplaka's Journal

FTMO Trader Scouting
Simr said:
Guys ,

Am at work during LO so ..have to use the 4.3" screen on my android to try and make entries.

The issues with this is that my broker gives a very basic MT4 app which has no fibs and most of all the bigger pic is missed out on m15 / h1. I believe this app is common for most brokers.

So does anyone here know of a good app ?

thanks
I use meta traders app on iOS. It works with all mt4 brokers and it contains the fib tool
 
Weekly trade setup 2014 Week 26

Hi All,

This week is again the good old GBPUSD.

The new indicator I'm still developing gave an alert on Monday during LO.
Price bounced off of the weekly dealer range line on Friday. It retraced back on Monday into the current weeks dealer range upper level (chart 1).

We zoomed in to a 5 MIN chart with the daily dealer range switched on.
We entered the STD 2 dealer range zone, almost touched the 1,5 STD line.

We saw a break of the 5MIN Market Structure at 6:25 GMT, right in the LO KZ.
We enter at the retrace into the 5MIN order block, price was 1.7043.

If this was missed, you could enter on Tuesday, 61.8% retracement of Mondays high to low.
Wait for the 5MIN MS break, enter at 1.7026.

Take profit was exactly at TP2 Tuesday @ 16GMT.

All in all, good for a decent 75 pips.

I expect price to go to 1.6942, the 79% OTE level and 200% extension and last weeks lower dealer range level.
I expect that price level to be a nice entry for a long GU.
 

Attachments

  • GBPUSD2014W26_M30.png
    GBPUSD2014W26_M30.png
    22.8 KB · Views: 55
  • GBPUSD2014W26_mon.png
    GBPUSD2014W26_mon.png
    21.2 KB · Views: 53
  • GBPUSD2014W26_tue.png
    GBPUSD2014W26_tue.png
    39.7 KB · Views: 41
  • gbpusd2014w26_tp.png
    gbpusd2014w26_tp.png
    30.4 KB · Views: 43
Just for logging purposes, and one I couldn't see in the past, but see this 'classic' LO entry, featured in the traders development plan series

I can't count the number of times I went short during NYO in the past.
When not looking at the higher TF (blue bar is OTE zone), you make mistakes.

In the past I said: price is going down, a nice retrace in NYO, OTE zone and all... And than get slaughtered :)
 

Attachments

  • USDCHF2014W26_tue.png
    USDCHF2014W26_tue.png
    22.4 KB · Views: 64
  • Traders_Development_Part7_1_Asian_Judas_Low.png
    Traders_Development_Part7_1_Asian_Judas_Low.png
    137.3 KB · Views: 66
Weekly trade setup GBPUSD Week 26

Hi Folks,

Just wanted to let you know I'm in a GBPUSD long.

The fib/ob indi confirmed the OTE zone, we touched a weekly dealer range bar + cleared some stops.
Wednesday low was formed during LO KZ yesterday.
 

Attachments

  • GBPUSD2014W26_thu.png
    GBPUSD2014W26_thu.png
    28.8 KB · Views: 55
Was wondering if you caught that on Cable. That was a really clean Weekly Retrace into Rate Decision Order Block, during LO.
 
sqa said:
Was wondering if you caught that on Cable. That was a really clean Weekly Retrace into Rate Decision Order Block, during LO.
Yes, I did :)

The 161% extension comes in at 1.7150, or 200 pips week.
Not too bad if it hits that :)

Double ADR is at 1.7080, so that's a nice target @ 15GMT today I recon.
 
Hopiplaka said:
Yes, I did :)

The 161% extension comes in at 1.7150, or 200 pips week.
Not too bad if it hits that :)

Double ADR is at 1.7080, so that's a nice target @ 15GMT today I recon.

Long Range HTF analysis suggests 1.7150 to 1.7200 should be in the cards, but I doubt it's going to be in a huge hurry to get there. Especially with the USDX & Fiber range-bound for the moment.
 
sqa said:
Long Range HTF analysis suggests 1.7150 to 1.7200 should be in the cards, but I doubt it's going to be in a huge hurry to get there. Especially with the USDX & Fiber range-bound for the moment.
The 127% extension of the swing of April 15th to May 6th comes in at 1.7087, so to me that's a nice level to get out if it gets there today. I'm in at 1.6975 so that would be a cool 100 pipper :)
 
Yest LO ( 26 Jun ) came to SD 1 . Nice pin. Took a long at the push down . And then was sitting mighty pleased... and Lo ! behold they just stabbed down even more and more..only to reverse it all during NY , yet again.

I think seek and destroy movements in progress clearing out weak longs ( like me :) ) on fibre and cable. End of the quarter plus month ending phenomenon.

Just IMHO
 
Hopiplaka in the chart attached to reply #83 you mention; "OTE did not touch weekly range level yet, we wait" can you give us some insight in to that comment?
 
Simr said:
Yest LO ( 26 Jun ) came to SD 1 .

"SD 1" ... what's that exactly? No need to answer, it's rhetorical.

And then was sitting mighty pleased...

So it's personal and emotional? Recipe for...

and Lo ! behold they just stabbed down even more and more..only to reverse it all during NY , yet again.

If you recognise the pattern, why fall for it?

I think seek and destroy movements in progress clearing out weak longs ( like me :) ) on fibre and cable. End of the quarter plus month ending phenomenon.

Sounds like a great story to add to your book of rationalisations for covering trading mistakes.

Simr, I do not mean to be harsh, I'm just trying to give you a hopefully helpful wake-up call here. Why are you trading? Are you just having fun, more or less just pursuing a hobby, or are you wanting more? Your post is a classic and points to the former, not the latter.

What time frame are you working on? If intraday, for example on hourly charts, and you recognise the intersession ebb-and-flow, then you can anticipate the sort of move we saw yesterday. There was ample time to get in and out at profit if you entered near the low of the London session. Then there is nothing to explain away or gripe about, that's just another trading day.

Trading is just a form of behaviour. It has cognitive, affective and psychomotor dimensions. That's thinking, feeling and doing. Get these aspects sorted and clear and you can find a path to trading success. Unfortunately most people don't get past the sand pit of trading culture. They prefer to play rather than focus and develop. I hope you won't be offended and I wish you all the best.
 
foreigner said:
Hopiplaka in the chart attached to reply #83 you mention; "OTE did not touch weekly range level yet, we wait" can you give us some insight in to that comment?
Rather than just entering at the 61.8% level, I want some sort of confirmation. Although price bounced off that 61.8 level for a bit, it was not the most optimal entry according to my rules.

Do you see the big green line inside the OTE?
It's a weekly dealer range S/R zone. We want price to see bounce of some sr level.
I do not draw SR lines anymore, I use the dealer ranges SR (lately only the weekly for that matter).

We saw a rapid price increase after hitting the weekly dealer range sr line inside an overlapping OTE. We also broke MS on the 30Min, which was our signal to look for a long.

You might recall I like the break1/break2 and back into the order block structure.
We saw that happen on Wednesday.
Entry during Thursday LO KZ, clean the stop under the Wednesday-Thursday dealer range.
 
foreigner said:
Hopiplaka in the chart attached to reply #83 you mention; "OTE did not touch weekly range level yet, we wait" can you give us some insight in to that comment?
See today's entry based on the weekly dealer range?
Price bounced off of a weekly level, broke MS, cleaned some stops on the way and came back into a 1H order block.
Price on the dealer range was 1.7002, close enough for the hidden OTE @ 1.7000 (which I did not draw).
1.7020 institutional level is a good entry to jump on the train and ride the continuation of the long trend and at least get those 1.7060 stops.
 

Attachments

  • GBPUSD2014W26_fri.png
    GBPUSD2014W26_fri.png
    29.8 KB · Views: 44
Hi AusDoc,

I think you arent familiar with ICT terms , hence the question on SD1 and Seek and destroy. Most here are I think.

Most of other stuff , i think we have different temperaments and hence different outlook.

:)

AusDoc said:
"SD 1" ... what's that exactly? No need to answer, it's rhetorical.

So it's personal and emotional? Recipe for...

If you recognise the pattern, why fall for it?


Sounds like a great story to add to your book of rationalisations for covering trading mistakes.

Simr, I do not mean to be harsh, I'm just trying to give you a hopefully helpful wake-up call here. Why are you trading? Are you just having fun, more or less just pursuing a hobby, or are you wanting more? Your post is a classic and points to the former, not the latter.

What time frame are you working on? If intraday, for example on hourly charts, and you recognise the intersession ebb-and-flow, then you can anticipate the sort of move we saw yesterday. There was ample time to get in and out at profit if you entered near the low of the London session. Then there is nothing to explain away or gripe about, that's just another trading day.

Trading is just a form of behaviour. It has cognitive, affective and psychomotor dimensions. That's thinking, feeling and doing. Get these aspects sorted and clear and you can find a path to trading success. Unfortunately most people don't get past the sand pit of trading culture. They prefer to play rather than focus and develop. I hope you won't be offended and I wish you all the best.
 
Simr said:
I think you arent familiar with ICT terms , hence the question on SD1 and Seek and destroy. Most here are I think.

Most of other stuff , i think we have different temperaments and hence different outlook.

Hi Simr,

I'm quite familiar with ICT's terms actually. But you're right, we're not exactly on the same page. Not to worry. Good luck with your trading. :)
 
Trade setup AUDUSD Week 27 2014

Hi All,

This weeks setup is already finished. It's the AUDUSD that gave the first signal of a new indi I'm developing. Still fixing some quirks but it will be released in the next couple of weeks.

The indi alerted me on Monday to get a long setup in the direction of the 9/18 ema.
Price hit the 61.8% to the pip, reversed on a dime and just hit the First Profit target.
With spread good for a 75 pips.

Zooming in on Monday we can see the 61.8% level was close to the STD1 buy zone.
On 5 Min chart we saw the 3 indians hitting into a support level, so the STD1 level @ 0.9388 was a nice entry to get long.

First profit was 0.9464, but it seems that take profit target 2 @ 0.9494 is also in reach.
 

Attachments

  • AUDUSD2014W27_tue.png
    AUDUSD2014W27_tue.png
    26.8 KB · Views: 42
  • AUDUSD2014W27_mon.png
    AUDUSD2014W27_mon.png
    47.8 KB · Views: 39
This is what I'm eyeing currently for AUDUSD.
If it breaks the 0.9445 yellow trendline, an long signal will be generated.
 

Attachments

  • AUDUSD2014W27_wed.png
    AUDUSD2014W27_wed.png
    28.5 KB · Views: 49
Hopiplaka said:
This is what I'm eyeing currently for AUDUSD.
If it breaks the 0.9445 yellow trendline, an long signal will be generated.

Buy signal was triggered, hit the weekly range high level and reversed.
0.9440 is a nice round number to get in
 

Attachments

  • AUDUSD2014W27_wed1.png
    AUDUSD2014W27_wed1.png
    22.5 KB · Views: 42
The EURUSD also gave a buy signal today, might be interesting to watch tomorrow when the interest rate is announced.
I also monitor the USDCHF 0.8925 level (I use it as an alternative to the USDX), if they align it might be a trigger to go long EU
 

Attachments

  • EURUSD2014W27_wed.png
    EURUSD2014W27_wed.png
    46.8 KB · Views: 41
  • USDCHF2014W27_wed.png
    USDCHF2014W27_wed.png
    36.4 KB · Views: 34
Check out the USDCAD. Also check out the 200% extension of this swing @ 1.0555.
Zoom out to the daily and look what a nice SR level that is :)
 

Attachments

  • USDCAD2014W27_wed.png
    USDCAD2014W27_wed.png
    22.3 KB · Views: 46
FTMO Trader Scouting
Back
Top