Price Action Weekly Highlight
- Thread starter TheInnerCircleTrader
- Start date
the golden gun
RINSE & REPEAT
PipHanger said:
Missed the 2600 handle, wasn't meant to be... looking to re-engage at a lower handle?
I managed to stay out of the Market last week...
Lets see if a setup will form around one of the following levels this week...These are the levels I am currently looking at...
GBP\USD
1.5950 - 1.5980
1.6080 - 1.6100
EUR\USD
1.2500
1.2680
1.2730
USD\CAD
1.1220 - 1.1250
Lets see if a setup will form around one of the following levels this week...These are the levels I am currently looking at...
GBP\USD
1.5950 - 1.5980
1.6080 - 1.6100
EUR\USD
1.2500
1.2680
1.2730
USD\CAD
1.1220 - 1.1250
Attachments
the golden gun
RINSE & REPEAT
currently short Fiber @ 2480 myself.
SL @ 2510
looks like 2490 will be the high for the day.
SL @ 2510
looks like 2490 will be the high for the day.
I didn't see anything during LO worth taking...
EUR\USD we do have a reaction off 1.2500 today, so if we have a judas move up during LO I will look to get short.
I've seen a lot of traders going short today, curious as to why you are shorting on the first move into an Order Block, I see this happen a lot. I thought per ICT we should wait for Smart Money to make the first move then we jump on board...?
EUR\USD we do have a reaction off 1.2500 today, so if we have a judas move up during LO I will look to get short.
I've seen a lot of traders going short today, curious as to why you are shorting on the first move into an Order Block, I see this happen a lot. I thought per ICT we should wait for Smart Money to make the first move then we jump on board...?
Here is what I have a hard time wrapping my head around...When looking at a setup there are always other options that price can follow, not sure how to tell if the setup I am looking for is good or if I should sit on my hands and wait for a different time to enter.
With the following examples it will make it easier to explain...
Example 1
Price could move to 1.2480 OTE during LO for a sell off (this is what I am looking for)
Example 2
Price could move up to 1.2540 then down to 1.2440 OTE for a buying opportunity
Example 3
Price could move up to 1.2540 then down to 1.2400 OTE for a buying opportunity
Etc, the list goes on...I'm not anymore sure about my setup then any of the other setups. With all the options to me it seems almost impossible to be accurate more times then not. I'm really banking on the new series to turn on the light to this dilemma.
With the following examples it will make it easier to explain...
Example 1
Price could move to 1.2480 OTE during LO for a sell off (this is what I am looking for)
Example 2
Price could move up to 1.2540 then down to 1.2440 OTE for a buying opportunity
Example 3
Price could move up to 1.2540 then down to 1.2400 OTE for a buying opportunity
Etc, the list goes on...I'm not anymore sure about my setup then any of the other setups. With all the options to me it seems almost impossible to be accurate more times then not. I'm really banking on the new series to turn on the light to this dilemma.
Attachments
the golden gun
RINSE & REPEAT
PipHanger said:
If anyone could achieve the level of certainty you seek, they would just wait for those situations and risk 100% of their account on every trade.
Isn't that the logical route to take if you could achieve certainty?
Understand that professionals don't trade like this because every professional knows you will never be 100% certain of any single trade.
Sorry if I came off that way as seeking 100% accuracy. I am looking at feeling confident in a plan and sticking to a plan. I guess the fact that there isn't a set plan to go by but constantly adjusting a plan is hard to become confident in any setup. To me it seems like still flipping a coin, basically a 50/50 chance.
Hopefully ICT releases a detailed plan for trading as a Short Term to Long Term trader as this is were I think I should be. So far I haven't found anything he has released that makes sense to me as being a Short Term to Long Term trader.
It's hard being a Short Term to Long Term trader when all examples are Day Trades.
Lets see what LO tomorrow or Wednesday will bring us.
Hopefully ICT releases a detailed plan for trading as a Short Term to Long Term trader as this is were I think I should be. So far I haven't found anything he has released that makes sense to me as being a Short Term to Long Term trader.
It's hard being a Short Term to Long Term trader when all examples are Day Trades.
Lets see what LO tomorrow or Wednesday will bring us.
the golden gun
RINSE & REPEAT
PipHanger said:
If it's your plan (and I hope it is) then who is to blame if you are constantly adjusting it?
I have confidence in my setups, but I am always thinking of the losing scenario. The amount you risk, hopefully <2% per trade, is the compromise you accept. You predict what will happen based on past experience and tools, and then you hedge that decision by only risking a fraction of your account.
If things are still "50/50" then you are simply not learning how to match up time and price.
Here's another really important point. People select "what kind of trader they are" based on what they are GOOD at. So if you are saying "I'm __________ kind of trader" but I don't know what I'm doing... then guess what bud, you're not that kind of trader!
What kind of trading do you find easiest?
the golden gun said:
You are correct in this as I do find it hard to match up time and price. If I have a level on my charts it can easily look like OTE during LO, but LO may or may not just keep going right through it like nothing happened. I find this hard to learn from as if I was correct in looking at that level and was just wrong or if it was a level that should have never been thought as an entry point in the first place.
I find Short Term to Long Term the easiest, though I said it's hard, it is the type of trader I have been improving as. I find Trading in general difficult and still have not found something that has really clicked. I'm still plugging a long and hopefully one day I can be as successful as you...
P
Piper
Guest
Everybody whos having a high percentage of winners is having it simply for one reason. They are only in the market when they see a probable scenario confirmed itself. Now about what you showed. If price will reach your areas, and it'll act in accordance what you think is a down scenario, short it, if its behaving like its going up, go long, if you got no clue what its doing, then sit on your hands. If you see it trade it, if not then don't. Its pretty simple.
-P
-P
the golden gun
RINSE & REPEAT
PipHanger said:
Look at the setups that occur nearly every day. Say to yourself "If I had done this at this time, I would have made money".
Next time, at the right time, instead of saying to yourself "If I had done this..." you say nothing and just do it.
Repeat infinitely until you're a winner... 8)
the golden gun
RINSE & REPEAT
PipHanger said:
Nice. Check my thread, you'll see you outgunned me on this one :cheers:
Decoherence
Well-Known Member
PipHanger said:
Starting to attempt making guesses based on news.. I'm expecting 1.14 by the new year, then up to 1.18+ possibly as the effects of oil prices sink in and the USD continues to rally.
