Swing & position trading

Euro/CHF

Still on watch list.

Down again this week.

Looking for a swing low on the daily to get long.

Like to see the triple bottom swept and the FVG filled.

Re-tested the OB again. Watching.

Trade still open.

Another one on watch.

Green lines are the 17th April highs and low.

DXY failed to break this level.
Euro fell well short.
GBP broke above and reversed on Friday.

Clear divergence.

Euro/USD sold @ 1.1690

May not get it.
4hr put in a higher low @ the OB.
Watching.

Why did I question my original analysis?
Of course D1 HTF is stronger than 4H.
Of course it was going to sweep the April triple day lows, seeking the stops and hence the liquidity.


Long @ 0.7800

3/4 of the position closed (+130 pips), remainder to break even.

3/4 position closed, 300 pips profit, remainder to break even.

There's nothing like a good trade.
And this is nothing like one.
I fully expected price to track lower.
Instead we have a 3rd week of sideways movement.
As long as the weekly OB holds I will remain short.
Even then, the false break (turtle soup) on the monthly, which has already been re-tested, needs to get taken out for me to completely reassess my outlook.
On the downside the equal lows on the weekly @ 1.1410 would be a good 1st target. They are just too neat.
There is a near mirror image on the DXY.

Trade remains open.

CAD/CHF

2 * buy orders @ 0.5703

Last 25% closed @ 0.8100 ( +75 pips )

Trade closed. Gave too much back on the remaining 25%

3/4 of the position closed. Stop to break even.

Clean PA on the DXY this week.

100.00 level still the key to much higher prices.
For now we remain in a monthly consolidation below that level.



Weekly looks constructive.


Daily broke out of the range. Void to fill.


What it did this week. Clear ICT concepts at work.

I've just had a private message from a member here on FF.
They were interested in long term trading and asked if there were any resources I could recommend.
So, to that member, and anyone else who has stumbled across this thread and might be interested, I will highlight the one which started it all for me.

Inner Circle Trader YouTube Channel

Under playlists there is one titled "2016 ICT Private Mentorship Core Content Month 3"

Lesson 1 is "Timeframe Selection & Defining Setups"

This one video will tell you whether you have the discipline and patience to trade from the HTFs ie. monthly and weekly.
There is much more to add in terms of defining a trading model you are comfortable with, but it is the foundation from which everything else flows.
Trading ranges, order blocks, FVGs, Breakers, Mitigation Blocks, OTE etc. These are just some of the tools using ICT concepts that aid this.
I am by no means an expert or fully conversant with the whole ICT video library ( 800+ videos ) but it helped me become consistently profitable after years of losses and break evens.

Hope it helps.