Cable&Fiber: Intraday Setups

[the golden gun]

Looks more like a Search & Destroy Profile to me. I would expect Sell Stops to be triggered before we continue higher...

you could be right!

Did you take a short above Tuesday's high?

 

[PipHanger]

Nope I didn't get that good of a fill, I got in at 1.2530 during London Open on the first push into this what looked to be a resistance level. Stop at 1.2560 going to wait and see what happens.

 

[Kuzia]

Looks more like a Search & Destroy Profile to me. I would expect Sell Stops to be triggered before we continue higher...

Sorry 1 question, why would we continue to go higher?

 

[TopFroxx]

Sorry 1 question, why would we continue to go higher?

i would think that he didnt mean it like that.
more like:
either we drop -> short = win, or
we will go higher in the future, but not without a drop for the sell stops before that -> also short = win.
future direction is of no concern basically.

that would be my thought process anyway. dont know about piphanger.

 

[PipHanger]

Sorry 1 question, why would we continue to go higher?

TopFroxx is pretty much correct in what I was trying to say, but here is a more detailed layout of what I think the Banks are up too...

We have Buy Stops above price and Sell Stops below price.

My guess is the Banks already have the Sell Stops established, but are setting up Buy Stop orders currently.

If they move price down into the Sell Stop orders, the traders which are currently short will be more inclined to place their Buy Stops at the double top formation.

They will also suck in breakout traders for going short which will also place their Buy Stops at the double top formation.

A quick move down then a rally seems to me what the Banks have in mind.

This will also put price into another Weekly Bullish Order Block.

It doesn't have to happen like this but this is the current trade I am in and I have to play it out as I have planned, until I take profit or Banks prove me wrong.

 

[the golden gun]

Fiber shorts are trapped. Monday's down day looks like it'll be a future order block... expecting a good rally over the next few days... :thumbsup:

profits taken

;D

 

[the golden gun]

Fiber Long

Everyone take note... this is how the banks do it.

It really isn't that complicated

 

[Piper]

Put on some monthly pivots for todays fomc target, and you've milked it till the last pip.

Hanger, not picking on you or anything.
But if you are listing that there are the buy stops, why do you put your stops there too? If they'll left on their own, don't worry they dont get lonely. And if you working with indis, learn to utilize 'em correctly, or remove them, else they'll just cause you to fuckup. The stoch was developed by George Lane, and its ONLY valid signal is d% divergence(that what he stated ,and was teaching anyways RIP) crossed by k%. The rest can be useful too but only to get some certain help to determine market conditions.

-P

 

[the golden gun]

Hanger, not picking on you or anything.
But if you are listing that there are the buy stops, why do you put your stops there too? If they'll left on their own, don't worry they dont get lonely.

haha, that made me laugh for real.

But Troy, really it is strange that you identified a stop hunting zone and then put your stop there ??? I trust you understand how the search & destroy profile works, so I guess you were just trying to get too fancy or something.

But if you had put your entry where your stop was, it is shaping up to be a great trade. Well it has paid 75 pips already, so A+ for your idea, but better execution next time I hope :thumbsup:

 

[PipHanger]

Re: Fiber Long

Everyone take note... this is how the banks do it.

It really isn't that complicated

Nice Job...Just curious to were you got your Long Entry, I didn't see any LO Setups. After the fact is does look silly of me for placing my stop where the stop hunt happened, but I thought it would have gone lower first then ran threw the buy stops.

Not sure how you do it Golden Gun, but congrats...I still don't get it, not sure if I ever will.

 

[the golden gun]

Re: Fiber Long

Nice Job...Just curious to were you got your Long Entry, I didn't see any LO Setups. After the fact is does look silly of me for placing my stop where the stop hunt happened, but I thought it would have gone lower first then ran threw the buy stops.

Not sure how you do it Golden Gun, but congrats...I still don't get it, not sure if I ever will.

It was a NY session entry on Tuesday @ 2503. I didn't catch the whole move, but I could see what the banks were doing. I've learned to be satisfied with just taking pieces & chunks out of moves. Sure I would've loved to have gotten that optimal entry @ 2450 but that just wasn't in the cards.

ps.
"whether you think you can, or can't, you're right"

and keep in mind this little tidbit. I actually feel pretty ashamed of how long it took me to get where I am today. I lost money, a lot of money, for many years in a row. Perhaps a part of that was in believing I could work and do this at the same time. I could see how someone could do this, and work a job, and be perfectly happy. But I'm just not that person. I am OCD and when I want to be good at something, that's really all I can think about. I didn't quit my job because I thought I'd make more money trading, I quit my job because I was destroying myself emotionally and physically because I would do anything to be at those charts during LO. I was doing physical work too, not a sit-around office job, so when I only got 2 hours of sleep a few nights in a row, it hurt. It was fucking hell. And I did it 100s of times to learn the knowledge I have now. Every trader thinks they might give up, but just remember quitters never win, and winners never quit...

 

[PipHanger]

Yepp, I am in the same boat as you. I am destroying my life and hurting the people around me because of me having to be up for London Open and working a Job which requires me to be there long hours. I get between 2 to 4 hours of sleep each night, occasionally going without sleep. My health shot, my life is shot...but I keep telling myself once I get this I can take it easy.

I will either learn how to trade or it will take my life...it's probably going to be the later...Sad but true...

 

[the golden gun]

Yepp, I am in the same boat as you. I am destroying my life and hurting the people around me because of me having to be up for London Open and working a Job which requires me to be there long hours. I get between 2 to 4 hours of sleep each night, occasionally going without sleep. My health shot, my life is shot...but I keep telling myself once I get this I can take it easy.

I will either learn how to trade or it will take my life...it's probably going to be the later...Sad but true...

I only hurt myself because I refused to lower my expectations. You can trade 4H with limit orders and wider stops and lower R:R ratios. Order block concept works on 4H charts, as do Fibs and every other tool available. I did what I did because of how my brain is built and while pushing it to the limits, you can see that I am alive and well, so when push came to shove, I made the wise decision.

 

[sqa]

One's health is always the first priority. You can't work (any job) when you're flattened. The more tired you are, the worse you're going to trade. You haven't gotten the relationship.

Troy, I'd honestly recommend a run through a Dave Ramsey class more than anything else.

 

[PipHanger]

GBP\USD 4 Hour Chart

So I marked up GBP\USD 4H Chart with Key Levels, OTE, and Order Blocks. so as I have everything marked up I sit and think where is the next likely place to take a trade, much like I do every night. Then it hits me, I have no idea what the best option is for taking a trade or what to do next. Here are the things I think about...

1.) Should I be looking to Buy or Sell? Honestly I'm not sure I can see both sides for being either one. What side is the highest probability? Again I don't know and I would assume Short since we are in a down trend on higher timeframe.

2.) Do I have enough information to decide at this point what to do or should I just hold off until next Tuesday to see if something clearer happens?

3.) We are in a range which has equal highs and lows on both sides, so to me it looks like both sides will be taken out, so do I fade the first break? If we break higher do I find a level to short and if we break lower do I find a level to buy...If we break out will we just retest the higher or low and continue in the direction?

4.) If we break higher will it be best to look at a short from the Previous Week Low, maybe in the OTE area, and maybe at the 4 Hour Order Block. Do I just set a limit order with larger then normal stop or wait for a London Open setup...

5.) Am I missing a level that might be possible used to get in a trade, Am I doing this correctly? What am I missing that everyone else sees which I do not. How can I know well in advance what to do? Am I complicating this and thinking to hard about it?

These are just some of the thought processes that go through my head when trying to find a trade. Honestly I don't have a set plan and believe I'm trying to put to many of ICT's tools to work at once. I don't see any repeating price action that I can just sit and wait for each week. I try to make a plan for myself but I always find it hard to follow when it fails or doesn't produce a setup, I continuously think I'm doing it wrong or question myself if I completely understand the plan.

I think to find a one shot one kill setup each week requires multiple plans and really not sure anymore where to start. Is there such a setup that repeats and I just sit on my hands to wait for it to happen? Each week seems completely different to me.

Here you go I spilled my guts and admitted I have no clue what to do. Every time I think I know what to do, it proves me wrong time and time again.

By posting this I'm hoping someone might see it and say that was them at one time and might be able to help me figure out the parts I am completely miss understand from ICT's teachings. I know I am missing something or not understanding something but I have no clue what it is.

Thanks for listening

 

[the golden gun]

GBP\USD 4 Hour Chart

So I marked up GBP\USD 4H Chart with Key Levels, OTE, and Order Blocks. so as I have everything marked up I sit and think where is the next likely place to take a trade, much like I do every night. Then it hits me, I have no idea what the best option is for taking a trade or what to do next. Here are the things I think about...

1.) Should I be looking to Buy or Sell? Honestly I'm not sure I can see both sides for being either one. What side is the highest probability? Again I don't know and I would assume Short since we are in a down trend on higher timeframe.

2.) Do I have enough information to decide at this point what to do or should I just hold off until next Tuesday to see if something clearer happens?

3.) We are in a range which has equal highs and lows on both sides, so to me it looks like both sides will be taken out, so do I fade the first break? If we break higher do I find a level to short and if we break lower do I find a level to buy...If we break out will we just retest the higher or low and continue in the direction?

4.) If we break higher will it be best to look at a short from the Previous Week Low, maybe in the OTE area, and maybe at the 4 Hour Order Block. Do I just set a limit order with larger then normal stop or wait for a London Open setup...

5.) Am I missing a level that might be possible used to get in a trade, Am I doing this correctly? What am I missing that everyone else sees which I do not. How can I know well in advance what to do? Am I complicating this and thinking to hard about it?

These are just some of the thought processes that go through my head when trying to find a trade. Honestly I don't have a set plan and believe I'm trying to put to many of ICT's tools to work at once. I don't see any repeating price action that I can just sit and wait for each week. I try to make a plan for myself but I always find it hard to follow when it fails or doesn't produce a setup, I continuously think I'm doing it wrong or question myself if I completely understand the plan.

I think to find a one shot one kill setup each week requires multiple plans and really not sure anymore where to start. Is there such a setup that repeats and I just sit on my hands to wait for it to happen? Each week seems completely different to me.

Here you go I spilled my guts and admitted I have no clue what to do. Every time I think I know what to do, it proves me wrong time and time again.

By posting this I'm hoping someone might see it and say that was them at one time and might be able to help me figure out the parts I am completely miss understand from ICT's teachings. I know I am missing something or not understanding something but I have no clue what it is.

Thanks for listening

How about you just take a break from trading for a few months and maybe it'll make sense later.

Maybe learn to even out your "highs" and "lows" and perhaps things will be calmer in your trading... I think everyone that wanted to help you has tried, and it never really ends with any progress on your part, so what's the point?

Have a good break Troy, if you choose that solution

 

[Hopiplaka]

GBP\USD 4 Hour Chart

By posting this I'm hoping someone might see it and say that was them at one time and might be able to help me figure out the parts I am completely miss understand from ICT's teachings. I know I am missing something or not understanding something but I have no clue what it is.

Thanks for listening

This is how I do it most of the times

First you put on a weekly chart and lay out the most obvious weekly order blocks (the ones close to where price is at Friday). Just 2 lines here, a red one for a bullish order block, a green one for a bearish order block.

Next I check out the obvious order blocks inside the weekly order blocks and draw the daily support lines.
Because we have an order block, there was a bounce off of a sensitive level, so we created a swing point.
Remember when we have a 3 bar swing pattern, all open/close/body lines are sensitive, so I draw the most obvious lines.
Price was close to the bullish order block so I draw the ones of the daily bullish order block swing point.

Next turn of your one hour chart for the week. See how the resistance lines were respected?
See how the 1H order block was respected at a resistance line?
See how you could get 2 nice trades this week with a 15 pips stop loss and a 100pips take profit, in line with the current down trend?
See how you could set the take profit at the 1H bullish order block?

This is just SR lines (and a bit of Order block), but no OTE, SMT divergence, stingers, reflection, ...

 

[Kuzia]

And everybody missed the most important concept : SUPPORT AND RESISTANCE by Michael this is where 80% of action happens, and if u think hard enough u will understand that it works because majority of the time u draw them on Bottom OF OB and OTE is 50% of OB. BOOM MAGIC!!!!

 

[mistica64]

This is how I do it most of the times

First you put on a weekly chart and lay out the most obvious weekly order blocks (the ones close to where price is at Friday). Just 2 lines here, a red one for a bullish order block, a green one for a bearish order block.

Next I check out the obvious order blocks inside the weekly order blocks and draw the daily support lines.
Because we have an order block, there was a bounce off of a sensitive level, so we created a swing point.
Remember when we have a 3 bar swing pattern, all open/close/body lines are sensitive, so I draw the most obvious lines.
Price was close to the bullish order block so I draw the ones of the daily bullish order block swing point.

Next turn of your one hour chart for the week. See how the resistance lines were respected?
See how the 1H order block was respected at a resistance line?
See how you could get 2 nice trades this week with a 15 pips stop loss and a 100pips take profit, in line with the current down trend?
See how you could set the take profit at the 1H bullish order block?

This is just SR lines (and a bit of Order block), but no OTE, SMT divergence, stingers, reflection, ...

This is great, it certainly has helped me in sharpening my way of drawing those important levels, thank you!

 

[the golden gun]

market structure breaking OB

here's a bearish block that actually broke market structure. Couldn't get more than 5 pips into it.

stuff like this seems pretty objective to me, but I guess it's hard to trust it sometimes because it can be subtle on the HTF.