ICT Actual Case Study

FTMO Trader Scouting
Man.. How do you determine take profit areas? Only I can turn a winning trade into a losing one. Sometimes I use 161.8 extension levels but then it only goes 30 pips and then reverses..
 
AnDDe said:
Man.. How do you determine take profit areas? Only I can turn a winning trade into a losing one. Sometimes I use 161.8 extension levels but then it only goes 30 pips and then reverses..
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Michael said in trending environments let the profits run, in consolidations be happy with 20-30pips...
 
AnDDe said:
Man.. How do you determine take profit areas? Only I can turn a winning trade into a losing one. Sometimes I use 161.8 extension levels but then it only goes 30 pips and then reverses..
Click to expand...

Need to know what the trade is, first. Don't worry, it's been a hard lesson to learn myself.
 
mistica64 said:
Was this EU short based on 4hr bearish OB?
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Yes it was. 4H OB and price action from yesterday's NYO high and todays previous low.

Might give us a second chance to go short during NYO.
 
Just to make it clear: we want to sell the "false rally" above the NY 12:00am based on order blocks and fibs. It's a sweet strategy.
 
jupiter_peak said:
Just to make it clear: we want to sell the "false rally" above the NY 12:00am based on order blocks and fibs. It's a sweet strategy.
Click to expand...
It just hit the 15 min bearish order block during NYO.
It's a bit of a "strange" week for the kill zones because of the DST difference between EU and US in my opinion.

AxRXQwWk
 
Hopiplaka said:
It just hit the 15 min bearish order block during NYO.
It's a bit of a "strange" week for the kill zones because of the DST difference between EU and US in my opinion.

AxRXQwWk
Click to expand...

Very clear opportunities today. As expected.
 
AnDDe said:
What do you mean by "what the trade is" ??
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Where are you within the range? What news events are in the offing? Has the smaller range broken to the upside? Is it in-trend? Counter-trend? Do you even know the trend?

Not every trade is going to the Moon or to Hell. Very few actually do. The range almost always has to be cleared out before they do that, unless there's a heavy trend on. This is why getting out on Order Blocks is valuable. Because if you're actually in the wrong direction on a major move, you'll get out at the logical place you'd have wanted to go counter.

I'm still not brilliant at it, but I've been getting better. Getting out where you know you'll get to is better than having a +60 trade reverse on you. (Now, if only I could be awake to take my entries...)
 
Here's one valuable tip for "inside a range" news events.

If you're not sure it's going to break the Range on a news release, find the H1 Order Block that would show a reversal, and put your TP at +4 from that point.

This comes from better than 50% accuracy at figuring out where a pair is going on news releases.. and then having it reverse as that was just getting more Orders in.
 
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