Showing posts with label ADR High. Show all posts
Showing posts with label ADR High. Show all posts

Tuesday, February 18, 2014

1.3680 and the Weekly Trinity Breakout

An overlay chart reveals that a Smart Money Trade Divergence existed.  The GBP broke new highs while the EUR still had not.
A quick glance at the H1 chart reveals that market flow in the short term was bullish.  
A confluence of levels might keep this rally at bay.  Either way, I paid myself.
A combination of all of ICT's tools allowed me to hold my trailing portion over the weekend.  In the m15 and m5 charts above, you could see plenty of buy opportunities that would have gotten you in sync with the market.
So far, this week has been a bit slow.  However, if you are trading using ICT's concepts, you would have been hunting for setups at high probability levels and most likely turned a profit.  1.3680 is a big level for me as I have been blogging about it recently.  Here as well.

Saturday, February 8, 2014

1.3640 and 80 pips

I got long just before NFP.  Yesterday was a prime example of how news events usually setup an OTE pattern either just before, right after, or even during.  As you can see above, I wasn't in this trade for long.
Yesterday morning's action revealed that the London Open Killzone (currently 2AM-4AM EST) sold the market down to a high probability level of 1.3550 Mid-Figure.  
There it is.  The higher time frame OTE pattern that stopped price dead in its tracks after NFP.  If you missed the long before the event, you could have taken a few pips on the short after the event.  

I drew my fib from the 1.3680 level because that swing lower was the swing that indicated a move lower was coming by breaking the previous fractal low at 1.3628.  I set my target as 1.3640 because of the charts just above and because I've had success with this level in the past.