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Ictsetup

Pound Canadian Short Position Trade - 2021The analysis is based off my unique approach to seasonal tendencies when Price is in a Ranging Market. Taking 2020 as the third year if we look back until 2017 you will notice how, during this period, the market has been repeating a pretty noticeable Fractal Pattern. Taking that into account l predicted a significant high to form on the Pound Loonie during First Quarter of 2021 which has happened so far. I'm anticipating the low of this Year to come around Aug-Sep, sweeping the lows around the 1.67387 level and finally taking out the Low created in March of 2020. The Canadian Employment Numbers came in positive for the Loonie @259.2K far larger than the forecast of 75.0K, this occurrence might just be the Fundamental confluence needed for my Technical analysis to pan out as anticipated.
Short
by watersthetrader
$EURUSD Swing Sell Underway - Another one So this Blue Horizontal line that I've had on my charts for quite some time represents a significant resistance/support line for the past 8 years or so. I call the daily bias for the EURUSD to be a sell, and it was overnight and when I woke up I immediately exited the trade with a mere but decent 20 pips, closing the trade at 1.18337 about 8 hours ago. The move shifted sideways and then within the last part of the day I noticed the strong surge upwards, until it hit my resistance line that has been marked for weeks at 1.18790. I kinda looked at it for a second. Then I looked at the big picture and thought this could be another swing trade. So I went for it. Within the previous day it has attacked a daily high and a daily low but has not broken either of them. So tomorrow it's going to be a given that it will break one or the other. So I have set up second entry zone and that is just above the next two daily highs and allows for a stop loss above the 3rd daily high. I will probably try a combination of entry points and stop/losses to mitigate risk as I always do. Never put your eggs in one basket!! Where I drew my historical support/resistance line just happened to the bottom of an Order Block. (See Chart) As for Take Profit Goals, I chose 1.17400 because it's just below the current swing low and it's an institutional/psy number. No one at a bank is going to be aimin for 1.174214. And it also comes in contact with an order block that could turn the trade north depending on what time of day it is when it gets there. My second take profit area is 1.17000 which is just above a 4 hour low/swing low of 1.16978 and just below a daily low. Once/if I hit these zones I'll leave about a 5% profit trailer to roam to see if it gets lower while my s/l is below entry. Again, the Commercial banks are very net short with EU even though they have been adding longs. I did check the Open interest last night and it seems to be steadily rising, which wouldn't necessarily call for a sell. Unless a drop in interest has just happened or is about to happen. Here's a chart with the COT report, stochastic with interest, and Money flow with interest rates. The Money Flow Index with the Open Interest seems to be Diverging which would signal a sell in the near future. I'm not expecting it to turn around and sell off now. But I do Expect a struggle, probably breaking the highs (barely) before dropping a few hundred pips by the end of next week. Also Linked is every EURUSD call I've made so you can see the timeline of how bad I used to make calls, and my progression to making better calls and realizing where I went wrong with incorrect ones. At least now they're all in one spot. During this period I'll be trying to add more positions as well as give a breakdown of price action on this thread as the trade moves along. Just my two cents. And just a reminder, I could be completely WRONG. I'm just some guy with a 9-5 job that likes to post his ideas on here :) FX:EURUSD
Short
by BodiesXWix
1
$EURUSD - Practicing Daily Bias - Short for now on 11.19I'm practicing the reasoning I would have to trade a specific direction for a daily Bias. Today, November 19, would be a sell bias. We've reached another resistance area that could not be broken and have a few daily lows that can easily break. Not only that, there have been some false breakouts aka "Turtle Soups" that have resulted in a short drop followed by a shallow retracement into an optimal trade entry. Seeing two of these in the same area within about a week's time frame would leave me to believe we would be selling off to break at least a few of those lows. I have it stopping around an Order Block to see what the reaction might be at that point. Keep in mind the are still equal highs above which it will want to break, it's all about the time as to when that will happen. Anyway, this is more of a journal entry than anything. But I am short, I just didn't get the entry I wanted but I'm confident it will move in the direction intended on this chart. We can only wait and see. FX:EURUSD
by BodiesXWix
Using the Fibs as Overbought and OversoldI used the latest swing high and swing low. My bias was short so I looked for a premium price to sell from. From the 50% and above are premium prices, next I looked for the candle responsible for an impulsive move down. Marked that candle. Also on the M5 I noticed a clean high, and I used the entry method of A STOP RAID as an entry. And the M1 gave me a bearish divergence solidifying the sell. Aimed for old lows to take profit or used the levels on the Fibonacci to take profit.
CME_MINI:ES1!Education
by OpeyemiJonah