Hopiplaka's Journal


Hopiplaka

My thanks go out to ICT - the life changer
Re: Weekly setup week 37

Hopiplaka said:
There is some downwards potential still I think, Asia hit the OTE of yesterdays swing right during 00GMT.
So this will be the judas swing probably, we'll see what 5GMT gives
I will come back to this part. I think we have set a longer term low.
Reason:
  • We hit the 50% level of the weekly order block
  • seasonal tendencies. Mid september is strongest buying in GBP
  • Divergence in yields between 5YR and 30 YR. Higher yields=higher currencies
  • Need to fill the gap
  • Cleared lows of Monday, rejected. Big moves happen after stops were cleared

I think 1.6085/90 will be a perfect BUY opportunity.
 

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Hopiplaka

My thanks go out to ICT - the life changer
Re: Weekly setup week 37

Hopiplaka said:
I will come back to this part. I think we have set a longer term low.
Reason:
  • We hit the 50% level of the weekly order block
  • seasonal tendencies. Mid september is strongest buying in GBP
  • Divergence in yields between 5YR and 30 YR. Higher yields=higher currencies
  • Need to fill the gap
  • Cleared lows of Monday, rejected. Big moves happen after stops were cleared

I think 1.6085/90 will be a perfect BUY opportunity.
Ok, I'm in a long position, and going to close the gap :)
 

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Hopiplaka

My thanks go out to ICT - the life changer
Jack said:
Great follow through with this journal Hop! :)
Thanks Jack,

Trying to pick bottoms is not good for the heart though, price came down 1.2pips from my stop loss :)
 

Hopiplaka

My thanks go out to ICT - the life changer
Re: Weekly setup week 37

AusDoc said:
Such confidence. Way to go Hopi :)
Thank you Ausdoc,

But things align pretty nice to go long now.

Seen the GOLD entry? I'm on demo with this to see if I can put entries for a long period of time without time to sit in front of the charts (i.e. when you have a job or lay at the beach :) ).

Should I have been in front of the chart, I could get a better price, but that's not the exercise here :)
Still I do have confidence in higher gold prices as well
 

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AusDoc

Well-Known Member
Re: Weekly setup week 37

Hopiplaka said:
Seen the GOLD entry? I'm on demo with this to see if I can put entries for a long period of time without time to sit in front of the charts (i.e. when you have a job or lay at the beach :) ).

Should I have been in front of the chart, I could get a better price, but that's not the exercise here :)
Still I do have confidence in higher gold prices as well
Impressive focus, right down to problem solving availability issues. No stopping you :)

Actually, having access to a commodity in MT4, even if it is gold, is quite handy. It can be clearer in seasonality than currencies. Building skills in seasonality trading is an excellent foundation for options trading. One virtue in that is the ability to take positions at meaningful size and manageable risk that you can pretty-much set and forget for a while. Well, ones you don't need to babysit in front of a chart anyway. That's handy for a family man.
 

rod178

Well-Known Member
Re: Weekly setup week 37

AusDoc said:
Impressive focus, right down to problem solving availability issues. No stopping you :)

Actually, having access to a commodity in MT4, even if it is gold, is quite handy. It can be clearer in seasonality than currencies. Building skills in seasonality trading is an excellent foundation for options trading. One virtue in that is the ability to take positions at meaningful size and manageable risk that you can pretty-much set and forget for a while. Well, ones you don't need to babysit in from of a chart anyway. That's handy for a family man.
Just be aware that swap fees can be a significant drain, especially if Long for the LT.
 

rod178

Well-Known Member
Hopiplaka said:
I'm going by the premise that we will need some News to facilitate a rapid move into the gap.

GBP Inflation Report Hearings in about 3 hrs may do the trick
 

Hopiplaka

My thanks go out to ICT - the life changer
rod178 said:
I'm going by the premise that we will need some News to facilitate a rapid move into the gap.

GBP Inflation Report Hearings in about 3 hrs may do the trick
That's what I think yes.

Did you see the divergence between the 5yr us and uk yields as well.
The uk formed an OTE now
 

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joepippin

Well-Known Member
Know why it got so close to your stop... Because it was a stop run. Look at the clean level you probably placed it at.
 

Hopiplaka

My thanks go out to ICT - the life changer
joepippin said:
Know why it got so close to your stop... Because it was a stop run. Look at the clean level you probably placed it at.
Yes, but the same thing happened yesterday as well, to clean the Monday stops.
So I thought they cleared all stops and just go for the order block :)
 

joepippin

Well-Known Member
Hopiplaka said:
Yes, but the same thing happened yesterday as well, to clean the Monday stops.
So I thought they cleared all stops and just go for the order block :)
Yeah. Monday's low was swept but a New level was created. Anyone buying from Tuesdays low till Today's London Open will have their stops where? Each swing low all the way down to 1.6060. :)

Cheers,

Nice pull Regardless.
 

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