Price Action Weekly Highlight
- Thread starter TheInnerCircleTrader
- Start date
Hi ICT,
Seeing your new thread has prompted me to sign up to FXGEARS and share this trade, which will probably be my best day trade ever, it's the week before's trading from the 5th, NFP, but felt you would like to see it anyway. This is my first post here and i'm not big on posting so hope it comes over as it should.
5th September 2013
EUR/USD NFP trade
1, In the range concept on Daily suggesting down
2, Time of Day NYO
3, Stop run on previous day’s high
4, Type 1 divergence on CCI
4, Re-test of Big figure
5, Trend line…………………. “Sorry ICT”
Sold above previous day’s high, Looking for 200% fibs move but felt Daily Pivot may bounce it so target set just above this.
Closed trade just above target as CCI showing Type 1 revesal.
Please note my server time is +2hr GMT
Seeing your new thread has prompted me to sign up to FXGEARS and share this trade, which will probably be my best day trade ever, it's the week before's trading from the 5th, NFP, but felt you would like to see it anyway. This is my first post here and i'm not big on posting so hope it comes over as it should.
5th September 2013
EUR/USD NFP trade
1, In the range concept on Daily suggesting down
2, Time of Day NYO
3, Stop run on previous day’s high
4, Type 1 divergence on CCI
4, Re-test of Big figure
5, Trend line…………………. “Sorry ICT”
Sold above previous day’s high, Looking for 200% fibs move but felt Daily Pivot may bounce it so target set just above this.
Closed trade just above target as CCI showing Type 1 revesal.
Please note my server time is +2hr GMT
Attachments
If we're only going week by week, then I have more of a blooper reel than a highlight reel...LOL
There were no positive highlights FX wise for me this week. (And no shame in admitting it either. Can't win them all.) So next week I'll hopefully have some highlights to share.
So on with the Bloopers!
--
Here's me doing this:
To the tune of over a hundred bucks.. (I don't trade that heavy on a news punt, they tend to move far enough not to need large size, plus the risk is higher volatility wise.)
By getting long AUDUSD right in front of the unemployment numbers, and adjusting my stops too early into the move (...I had moved them down for a few seconds once price jumped ~9 pips in my direction, thinking it was safe and that I had the right side of the news trade. The plan was to take 90% off the table and let the rest ride with the wider stops over the next few days. I never got a chance to take most of the position off, it just insta dropped on me in about 3 seconds.)
D'OH! Rookie order management mistake.
--
And then there's my journal entry from this past Friday where I nearly doubled my day's profit on a system's error that hid shares I was still holding til after the market officially closed:
There were no positive highlights FX wise for me this week. (And no shame in admitting it either. Can't win them all.) So next week I'll hopefully have some highlights to share.
So on with the Bloopers!
--
Here's me doing this:
To the tune of over a hundred bucks.. (I don't trade that heavy on a news punt, they tend to move far enough not to need large size, plus the risk is higher volatility wise.)
By getting long AUDUSD right in front of the unemployment numbers, and adjusting my stops too early into the move (...I had moved them down for a few seconds once price jumped ~9 pips in my direction, thinking it was safe and that I had the right side of the news trade. The plan was to take 90% off the table and let the rest ride with the wider stops over the next few days. I never got a chance to take most of the position off, it just insta dropped on me in about 3 seconds.)
D'OH! Rookie order management mistake.
--
And then there's my journal entry from this past Friday where I nearly doubled my day's profit on a system's error that hid shares I was still holding til after the market officially closed:
Jack said:[...]
Now here's the comedy:
[...]
4pm EST comes, the bell rings, and the market is closed. Then at 4:02pm, my manager goes: "JACK!" (actually, he said my trader ID at work) "you're still in SPY, get flat now."
I look at my blotter and it shows that I was flat, so I respond to him that I didn't appear to have any shares. He then responds: "Refresh your blotter, you have shares for sure."
Here's the thing, tech problems can happen, and we've had a few since the latest system update at work a few days ago.... so I instantly panic and run a command to recount all my order fills and open positions... and sure enough, I was actually still holding 1/3rd of my position long.
SPY, being an ETF and very liquid, trades cleanly after the market close for a good 5-10 minutes. I was able to trade out of the position 'after market' for 169.37s (purple line marked on chart above,) which padded my P/L nicely for the day.
Not something I like doing, i.e. posting a 'successful' trade, lol maybe because they are not as frequent as I would like, anyways this past week only one trade, was on cable.
(haven't demoed in a while, not against it, just haven't used that important learning facility in a while)
There was only one dominant feature, horiz s/r, had a line on cable at 5752 exactly as outlined in ICT's last video, that line there from probably 2011.
So the key for me was what would happen there, last time was rejection, it was resistance, I've learned not to be biased, I waited, Sep 11th LO and price jumped straight through the level - right the way up to 5820.
The old me would have chased here, maybe at 5800 buy with a 30pip stop.
The more patient me just set a buy order at 5758 (allows for spread and a bit), target of 40 pips - i.e round number less spread, stop was 20 pips.
Was this an ICT inspired trade? - have to say yes, only tools were the line and that other thing he frequently talks about, no hammers on about, the single thing you would think is the easiest thing in the world to learn, and yet for me the most difficult.
Strangest thing is that many people say that I am a very patient person they know.
The only reason I have posted this trade is because I couldn't help but notice the similarity of the trade scenario as per ICT's video and J Livermore's 'Pivotal Point' as price jumped up through the 5752 line - I followed to the letter what both were teaching - over 80 years apart.
(haven't demoed in a while, not against it, just haven't used that important learning facility in a while)
There was only one dominant feature, horiz s/r, had a line on cable at 5752 exactly as outlined in ICT's last video, that line there from probably 2011.
So the key for me was what would happen there, last time was rejection, it was resistance, I've learned not to be biased, I waited, Sep 11th LO and price jumped straight through the level - right the way up to 5820.
The old me would have chased here, maybe at 5800 buy with a 30pip stop.
The more patient me just set a buy order at 5758 (allows for spread and a bit), target of 40 pips - i.e round number less spread, stop was 20 pips.
Was this an ICT inspired trade? - have to say yes, only tools were the line and that other thing he frequently talks about, no hammers on about, the single thing you would think is the easiest thing in the world to learn, and yet for me the most difficult.
Strangest thing is that many people say that I am a very patient person they know.
The only reason I have posted this trade is because I couldn't help but notice the similarity of the trade scenario as per ICT's video and J Livermore's 'Pivotal Point' as price jumped up through the 5752 line - I followed to the letter what both were teaching - over 80 years apart.
Hello Michael,
My trade of the week was on the 12.09.2013.
The higher time frames were suggesting higher prices. It sold off over London so I was looking for a long position at NYO. I put on a limit order pre news at the 1.3267 OTE. I was hoping the Unemployment claims would push the Euro down to give me my entry.
Unfortunately it spiked down further than I had expected. But the spike down went right to the OTE of the 10-11 Sept. move so I was still comfortable with the trade. I took FP at bigfig / OTE of the London move / 30pips.
I wanted to leave second half on to 1.3348 but was took out overnight.
GLGT
Daniel
My trade of the week was on the 12.09.2013.
The higher time frames were suggesting higher prices. It sold off over London so I was looking for a long position at NYO. I put on a limit order pre news at the 1.3267 OTE. I was hoping the Unemployment claims would push the Euro down to give me my entry.
Unfortunately it spiked down further than I had expected. But the spike down went right to the OTE of the 10-11 Sept. move so I was still comfortable with the trade. I took FP at bigfig / OTE of the London move / 30pips.
I wanted to leave second half on to 1.3348 but was took out overnight.
GLGT
Daniel
Attachments
Last week's long entry at 1.3276 on EUR/USD Sept. 12.
Higher TF Market Struc. bullish, waited for retrace into predetermined OTE zone between previous day's low and previous day's high.
Zoomed into lower timeframe 5min to confirm reaction at OTE, waited for Market Flow on 5min to turn bullish and entered in at 70.2% via double tap.
Higher TF Market Struc. bullish, waited for retrace into predetermined OTE zone between previous day's low and previous day's high.
Zoomed into lower timeframe 5min to confirm reaction at OTE, waited for Market Flow on 5min to turn bullish and entered in at 70.2% via double tap.
Attachments
Re: Price Action Weekly Highlight Target Hit
09 19 13 Target got smashed! during or after FOMC, i was asleep, i wasn't expecting it to smash threw the August high! this could be a good thing, will we see a turn around??? near term. So buy/sell models do work Mike!
09 17 13 trades on, not sure if it will hold! stop at BE
Asia session could get closed out
Also check out this Daily ICT sell model set up and give me some feed back on it!
http://fxgears.com/forum/index.php/topic,95.msg1451.html#msg1451
09 19 13 Target got smashed! during or after FOMC, i was asleep, i wasn't expecting it to smash threw the August high! this could be a good thing, will we see a turn around??? near term. So buy/sell models do work Mike!
09 17 13 trades on, not sure if it will hold! stop at BE
Asia session could get closed out
Also check out this Daily ICT sell model set up and give me some feed back on it!
http://fxgears.com/forum/index.php/topic,95.msg1451.html#msg1451
Attachments
P
Piper
Guest
Well this was my trade of the week moment:
Only a 30 pips sell scalp against the flow.The lowest this week via profit,but the pinpoint entry made my day(yea i know it was luck :cashjump
Only a 30 pips sell scalp against the flow.The lowest this week via profit,but the pinpoint entry made my day(yea i know it was luck :cashjump
P
Piper
Guest
New week, new setup..Opps i did it again :count:
I want to make these entries my new hobby :tossbills:
I want to make these entries my new hobby :tossbills:
TheInnerCircleTrader
Well-Known Member
TheInnerCircleTrader
Well-Known Member
120+ Pips on USDJPY
I just closed it off a bit short of my final target (which might have been a mistake, as it looks like USDJPY might still have another 10-20 pips left in it before we pull back.)
(4 hour chart.)
I scaled out a little at first, then put it back on, then scaled out again. Otherwise called: Working the trade.
And I even took two short scalps (hard to see on the chart above, but I shorted 3x the position size I had on long for a hand full of pips on peaks where I got a short term scalping signal from my scalping strategy to short. Both cases were aiming for 10+ but both were stopped out early with a tight trailing stop at +5 and +4 pips. The tight trailing stop was there since my overall bias was long and I didn't want to be holding net short should the market continue up.)
I just closed it off a bit short of my final target (which might have been a mistake, as it looks like USDJPY might still have another 10-20 pips left in it before we pull back.)
(4 hour chart.)
I scaled out a little at first, then put it back on, then scaled out again. Otherwise called: Working the trade.
And I even took two short scalps (hard to see on the chart above, but I shorted 3x the position size I had on long for a hand full of pips on peaks where I got a short term scalping signal from my scalping strategy to short. Both cases were aiming for 10+ but both were stopped out early with a tight trailing stop at +5 and +4 pips. The tight trailing stop was there since my overall bias was long and I didn't want to be holding net short should the market continue up.)