Scout Sniper Basic Field Guide - InnerCircleTrader

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Peterma said:
Many retail going short because of the stubbornness of 3550-60

weekly pp at 3508 - so I went long there.

Could be an iffy trade - important to stay above today's low during AS and then LO tomorrow - The danger with this trade are the Asian stops below 3460 - they have to be tempting.
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Larry Williams states that he enters each trade with the premise that it will be a loser, not being negative, using realism to his advantage, he is looking to see where the trade will likely fail and think through his actions in advance.

My trade survived the AS and LO today, it did indeed stay above yesterday's low.

The push up at LO gave enough confidence that, despite anticipating a NYO fall that the stops at 3460 were then safe, again the key that yesterday's low remained intact.

The next hurdle is tomorrow, there is the possibility of a Wed high of week forming and driving price back to those stops, if I can see a stronger AS, maybe up to 3585 and a healthy LS then a pull back in NY to 3550/60 would be ok and the trade will stay in place.

No Euro news but GBP news at LO may just pull the euro up a little - then NYO news for usd.
 
Peterma said:
( I would have liked to have seen the high of the right bar (3356) pierced, but that may come tomorrow).
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Should have added - that 'piercing' of 3556 is what I was hoping to see.
 
The Asian Session was indeed stronger. Time is now the enemy of this particular trade.

Today is midweek, Thurs & Fri the last 2 days of the month - there is the possibility of profit taking, as noted earlier when referencing the sloping trend line, the banks have been buying - I always try to figure their averaged in price - profit taking could take price to at least that level.

For these reasons I now take the trade to b/e level.
 
Yep, I'm hmmming too, cable has not (yet) made it past Mon's high, clearly fibre has and is slightly out on a limb.

If cable can make it up then great, if not then iffy, I've moved stop up to 3540 as a consequence of the lack of push (yet) on cable.

I'm still convinced they have their beady eyes on 3650 :)

Edit: 3600 broke just as I posted - those bank guys are reading FXgears!!!
 
booze007 said:
@Peterma

are you ict posting with a different user name ?:)
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LOL - I'm just a learner, and a little older than he is :)

I chose to live comment this trade just to show the effectiveness of the ICT tools regardless of the trade outcome.

Btw why I said 'yet' on the cable - and then up it went. The reason was simple - see all the higher lows on the 1 hr, banks have been buying - lots retail went short this morning - hitting resistance etc, banks will wait for what ICT refers to as oxygen - news, bring price the wrong way - lots more shorts and stops for longs taken in, then up it goes.

The news was only as expected, that's why he says to always look at the calendar.

Another little thing I've noticed in the past - fibre has just steadied, not following it's sister at present - reason, the Eur/Gbp cross gives the clue.

I suspect fibre may just be running out of steam for now so stop up to 3568 (below MR1 and LO low)
 
This little commentary soon drawing to a close you'll be glad to hear :)

The eur/gbp selling has hit 79% fib (see 1hr), so a chance of some settling there, this in turn may settle any possible euro selling on fibre.

NYO will tell the tale.
 
Many teach, including ICT, not to attempt to impose your will on the market - you know you are right - but forgot to tell the market.

Looking at the usdx h4 my trade has a problem, clear support.

Although eur/gbp has settled, and also the euro selling associated with that cross I am very aware that the banks would like some profit - so have decided to close out the trade.

End of 'live' commentary - I enjoyed the ride :)
 
Nice SMT Divergence Fiber/Cable (M15) for entry yesterdays NYOKZ, either off pin confirmation or OTE. Also note Fiber double top. Entry weaker pair (Fiber) provided a potential RR 3:1 plus, if TP confirmation Pinbar at 17:15gmt (wick about 1 pip above AR low and about the 200 fib ext and 21/22Nov KSR confluence) Always prefer to be out before 18:00 GMT.
 

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EURUSD - inverted Fib Levels provided support, alone...
 

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German data could be lining up with the technical's, if price reached 1.36500, it could be game over...
 
I'm still convinced ref the 3650 level - they've had that as a target for some time - the problem is what after that.

Most think an immediate fall, but I just don't know - too many are short and will prob add to it at 3650 - I'll stay flat, I'd expect some sort of a reaction, but if price doesn't make it below 3600 - 3580 then that would be a whisper that they are still buying.
 
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