Cable&Fiber: Intraday Setups

[Piper]

...
I feel ...

I feel that if you base your trades on feelings you'll loose your pants... 8)

... There's just nothing between 6740-6790 to stop price, it's just a big orderless vacuum...

Time will tell,but keep your eyes open
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.

 

[the golden gun]

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.

Absolutely.

 

[Piper]

Absolutely.

Time have spoken again...Keep up da good workz..

 

[the golden gun]

Dual Screen

Cable bullish order block @ 6605

-as seen from daily chart and 15m chart.

 

[the golden gun]

Re: Dual Screen

Cable bullish order block @ 6605

-as seen from daily chart and 15m chart.

Gotta love that timestamp... it don't lie 8)

 

[Piper]

yea.. nice place to pick for a retrace. hope the exit was swift as well

 

[the golden gun]

yea.. nice place to pick for a retrace. hope the exit was swift as well

I'm just showcasing winning setups.

That one happened to be before-the-fact, and paid out 70 pips from optimal entry to optimal exit.

Even if that was the only setup this week (it wasn't) then I'd consider that a great week. 70 pips is a big chunk of my monthly goal, so getting that in a single session is pretty satisfying actually!

 

[Piper]

I wasn't sarcastic. But the spikeback happened fast,so i expressed my hopes that you've got out in time.
Believe it or not, i take no joy when a trader looses. ??? Since i still very much remember those days when i felt hopeless.

...
Even if that was the only setup this week (it wasn't) then I'd consider that a great week. 70 pips is a big chunk of my monthly goal, so getting that in a single session is pretty satisfying actually..

Dunno what to add. I don't have goals. I trade when i see an opportunity.

PS
Added a picture with magic carrots

 

[the golden gun]

I wasn't sarcastic. But the spikeback happened fast,so i expressed my hopes that you've got out in time.
Believe it or not, i take no joy when a trader looses. ??? Since i still very much remember those days when i felt hopeless.

Dunno what to add. I don't have goals. I trade when i see an opportunity.

PS
Added a picture with magic carrots

I appreciate the sentiment, but all you're seeing in this thread is setups. It is a showcase of the tools and concepts taught by ICT, shown in a consistent and hopefully objective manner.

If I want to share specific entries and exits of mine, you'll see the MT4 terminal, otherwise I may or may not have taken the trade. This isn't a journal, just a showcase. Nobody wants to see losers in the showcase

 

[Piper]

.. Nobody wants to see losers in the showcase

Yeah.. It makes the accounts look bad,not just us 8) 8)

 

[PipHanger]

paid out 70 pips from optimal entry to optimal exit.

There is no way anyone could have gotten 70 pips out of this with optimal entry to optimal exit using ICT's tools, possibly 60 pips but that is even pushing it with perfect entry at OTE and exit at 200%, without a spread it might have been possible.

Just saying...

 

[the golden gun]

There is no way anyone could have gotten 70 pips out of this with optimal entry to optimal exit using ICT's tools, possibly 60 pips but that is even pushing it with perfect entry at OTE and exit at 200%, without a spread it might have been possible.

Just saying...

Entry @ confluence of order block + 1 Dev. of CDR
(6605 entry possible, even with spread, lowest bid is 6601)

Exit @ confluence of 61.8 OTE retracement + last friday's CDR low
(High bid is 6677, so exit @ 6675 for +70 pips is definitely possible)

It's all there, folks

 

[PipHanger]

So you are telling me you would have just blindly bought at 6605 at 05:55 GMT? And wouldn't have waited for confirmation on the pull back from 05:55 to 07:30 GMT to get an OTE for entry at London Open, which is more inline with what ICT teaches.

6605 is pretty much catching the knife in the air, and not waiting for the knife to finish falling before picking it up, as ICT puts it so nicely. 6605 is also picking bottoms in the market which is another NO NO which ICT has been preaching not to do (but yet goes ahead and frames trades off of it).

Not to be negative but after the fact anyone can point out how ICT's tools works perfectly, putting them to work on the right side of the charts is were it's fuzzy...I believe this has to do with how each of his tools contradicts one another, much like his analysis which points out both directions of the market and when it takes off he says yepp see I called it. One of the tools will always work out for the days trading, but if you guess wrong you will get your fingers smashed.

What I was saying is buying at 6605 and exiting at 6675 is pretty much hindsight and unlikely would be pulled off with ICT's tools. You are telling me you would have held for the 62%, when you have multiple choices of fib extensions to choice from also on exit points? What made you decide 62% was it, besides seeing it stop there after the fact?

 

[Piper]

... picking bottoms in the market which is another NO NO which ICT has been preaching not to ....

Yes yes yeeeeeeeeeeeeeeeeeeeeees! Pick it and buy it!!!! But only if you know how.. 8) 8)

...
Not to be negative but after the fact anyone can point out how ICT's tools works perfectly, putting them to work on the right side of the charts is were it's fuzzy...I believe this has to do with how each of his tools contradicts one another, much like his analysis which points out both directions of the market and when it takes off he says yepp see I called it. One of the tools will always work out for the days trading, but if you guess wrong you will get your fingers smashed...

Pretty well sums it up, and this is my main problem with his method. Veeeeeeeery subjective.
Hidden OTE's huh? ???

... exiting at 6675 ...

Don't forget the gap. it was a pretty good and logical target..And a nice place to jump back to the trend.. Ah well... Always easy to be smart after.. And sometimes in the moment too.. 8)

-P

 

[the golden gun]

So you are telling me you would have just blindly bought at 6605 at 05:55 GMT? And wouldn't have waited for confirmation on the pull back from 05:55 to 07:30 GMT to get an OTE for entry at London Open, which is more inline with what ICT teaches.

6605 is pretty much catching the knife in the air, and not waiting for the knife to finish falling before picking it up, as ICT puts it so nicely. 6605 is also picking bottoms in the market which is another NO NO which ICT has been preaching not to do (but yet goes ahead and frames trades off of it).

Not to be negative but after the fact anyone can point out how ICT's tools works perfectly, putting them to work on the right side of the charts is were it's fuzzy...I believe this has to do with how each of his tools contradicts one another, much like his analysis which points out both directions of the market and when it takes off he says yepp see I called it. One of the tools will always work out for the days trading, but if you guess wrong you will get your fingers smashed.

What I was saying is buying at 6605 and exiting at 6675 is pretty much hindsight and unlikely would be pulled off with ICT's tools. You are telling me you would have held for the 62%, when you have multiple choices of fib extensions to choice from also on exit points? What made you decide 62% was it, besides seeing it stop there after the fact?

What made me decide to "catch a falling knife"?
In my trading, support&resistance trumps market flow, and I will trade counter-trend when I believe this is about to happen. These type of trades require FAST EXITS, because there is always the dominant flow ready to take another bite. ICT "preaches" the most probable ways of trading because he is focusing on people new to the method.

Why did I pick the 62%?
In my post I showed that it was also a friday CDR low, it was a Previous Day Low too.

Hindsight?
Not really. I saw what was happening and I was working with the tools in real-time. What you are seeing in the final product is definitely a "polished" image, but I stand by the idea that it was perfectly possible to hit the 70 pip winner on that day. Maybe you would have sacrificed a few more pips in reality, but who cares? are we really penny-pinching here, haha

 

[the golden gun]

Real HTF

Here is a loaded Cable daily chart. with some extra ADR analysis as a bonus. Enjoy!

 

[PipHanger]

I guess it shows my lack of understand on how to trade profitable...way to go if you pulled off 70 pips on that trade, something I've been trying to figure out forever on how to do.

I understand the concept of how S&R trumps market flow, but yet can't figure out which ones to use, if you have your levels off even by a little bit and can throw off your trading, plus how do you know if it just wicked through it or if it's actually broken it?

Just all very confusing to me, even after years of study...

Just want to say one last thing...congrats on your knowledge of the markets and it keeps me motivated that it's still possible for me to get this stuff...

 

[Fuzzbuggy]

I guess it shows my lack of understand on how to trade profitable...way to go if you pulled off 70 pips on that trade, something I've been trying to figure out forever on how to do.

I understand the concept of how S&R trumps market flow, but yet can't figure out which ones to use, if you have your levels off even by a little bit and can throw off your trading, plus how do you know if it just wicked through it or if it's actually broken it?

Just all very confusing to me, even after years of study...

Just want to say one last thing...congrats on your knowledge of the markets and it keeps me motivated that it's still possible for me to get this stuff...

Well said PipHanger, i'm in the same boat as you

 

[the golden gun]

I guess it shows my lack of understand on how to trade profitable...way to go if you pulled off 70 pips on that trade, something I've been trying to figure out forever on how to do.

I understand the concept of how S&R trumps market flow, but yet can't figure out which ones to use, if you have your levels off even by a little bit and can throw off your trading, plus how do you know if it just wicked through it or if it's actually broken it?

Just all very confusing to me, even after years of study...

Just want to say one last thing...congrats on your knowledge of the markets and it keeps me motivated that it's still possible for me to get this stuff...

Repetition builds competency.

As long as you can keep that dual-perspective, you'll be able to spot setups like this. Some of my trades are "gutsy" but I have confidence in all my setups, so I don't really notice when I am describing a gutsy entry... I guess this is one of those situations.

I'm glad this thread is motivating you, that is its purpose! But where you're going wrong is with your expectations. Just imagine getting pieces of these moves, it is still sufficient to build up a trading account. Notice I'm not sharing my S/L which leaves room for individual risk appetites.

If you took that 70 pipper with a 30 pip SL vs a 15 pip SL, you're going to get very different % results. So for some this could be a small win, for others it could be the only trade you need for the week.

There's a lot of versatility about these setups, but everyone seems to be getting bogged down with the false impression that this is somehow my personal trading journal... which it is not. ;D

 

[the golden gun]

Just all very confusing to me, even after years of study...

I'm curious as to why you keep pursuing this method of trading?

I think confidence in trading is extremely important. In order to trade confidently, you have to believe that what you're doing works more often than not.

If I was you, I would probably go back to the drawing board and start with something that I believed works. It sounds like you're building your trading career on a foundation of doubt... it seems very unhealthy and unlikely to ever produce success.

Confidence First! 8)