Hi, thanks, I have already looked through his list, but mine could ne outdated, I’ll check it out again:-)
short fiber at 30419, h4 frame trade. there is a 79 pullback on the large swing 3140 to 2660, and a 128 extension on 2880 to 3010. stop at 55, no other trade management cause 'm off to catch some sleep!
This is what T-Rex looks like when he jumps in cannon ball style. I got very lucky and caught a piece of this before the blast off last year.
Just wanted to share to show how much a bank can move their country’s currency in minutes whenever they want to.
The range for the day was over 1000 pips. If 1 bank can do that to a currency, imagine what 10 banks can do controlling most of the daily order flow.
This is 1 example of many that confirms ICT is 100% correct concerning manipulation.
Here is the headline, you can google it…
The Swiss National Bank in effect devalued the franc, pledging to buy “unlimited quantities” of foreign currencies to force down its value. The SNB warned that it would no longer allow one Swiss franc to be worth more than €0.83 – equivalent to SFr1.20 to the euro – having watched the two currencies move closer to parity as Switzerland became a “safe haven” from the ravages of the eurozone crisis
Another way to think about manipulation
Think about this, if you bought a lot of goods from Japan and had to convert your currency to yen to pay contract in 6 months, would you hedge now or risk a possible loss when payment is due. That order you put into the banks to hedge is held off for fair value meaning limits and stops that are targeted are used to place the order flow. Buyers need sellers and sellers need buyers. Remember the banks have a trading plan standard operating procedure, it is the only way they can trade.
This is one of the main reasons why I like studying the methodology from ICT, if we can learn to see half of the puzzle the goat will become more obvious… Looking forward to the next series.
Shorting the Fiber, given current PA is similar to playing Russian Roulette (game to play only as a spectator) with three rounds in the chamber
Why do you say that?
… so suspect that even bet it will either break up out of the AR for a bull run or JS down for a safer Long entry.
Playing Russian Roulette as a spectator? :18:
Market Flow and Stucture is Bullish
Clear evidence of accumulation in AS
Hey if we turtle soup the fiber tomorrow, the 200 ext is 1.2920, a great place to get long. 70% likely hood of hitting the WPP in any week.
Never mind. Answered.
Yes - a level to be aware of
it is OTE last weeks (Wednesday )low and also about weekly mid Pivot S1, obviously a Figure as well.
Edit: 161 extension Friday’s low as well
Stopped out of Fridays short @ 1.3037 (SL @ 1.3026) due to “market jump” which meant I gave back all the 3% gain from Friday! SL would have meant I’d have kept some profit, but well these things happen. I’m off to work now before I start trading again. See you all later.
my “prediction” for the week: push higher today/tomorrow to ~1.3080 forming the high of the week and also mm sell model high and HTF deep OTE. then bounce back to at least 1.2950.
EUR/USD hit the 79% level from the previous H4 swing high, bounced off Friday’s high, and now is heading up a bit.
The Dollar is bouncing around the 80 level
Watched tonight’s ICT video. Sounds to me to like wait to see which way the dollar is going to go from the 80 level up or down.
Took half off at 3020… and moved the SL to BE…SL just got hit… if it hadn’t I was looking at 1.2995 as my 2nd TP since this is where I become bullish and it would be the 70% OTE from the wk open and the 200% ext from the short I took
The more I watch PA the more amazed I am at being able to see what is going on using ICT’s methods.
I caught on to another element of how retail gets screwed over today.
Price ran up in Asia to accumulate buy orders to possibly get the sell party started. What is interesting is that it would seem that a nice rejection spike was left behind for anyone looking to get short on a bounce. So those that got short with their high above the rejection candle high were part of the accumulation plan after the second run up. Some are also long on the break out suffering draw down or were stopped, more accumulation.
Then 2 hours of consolidation after Asia a quick pop up to get more buy orders.
I think commercials are getting short just by watching the beatings today.
I used to look for breakouts and S/R rejection setups. What blows my mind is how obvious the raid is now and how it has always been there bending me over.
Everyday I learn so much just by watching PA kicking the crap out of retail.
I am still amazed by its simplicity in design.
Thanks for sharing your knowledge Michael.
Looking at EUR/USD the same thing?
Up over the Asian session high where people who are short have their stops and right back down into the accumulation range. A couple more times to the upper and lower stops and then breakout high since the dollar index is falling?
107.50 was 79% retrace of recent move down; clear change in market structure on 15 min; price then formed a nice H & S pattern at that level
but its not clear to me yet which way this pair is going; 107 and Tuesday’s hi are still holding; in fact looking at H1 chart atm, it looks as if it is reversing long now; need to see a change in MS tho