Great explanation, helped clarify SMT for me. Thanks
working on fridays sucks. such a nice short on cable in lokz. also fiber short at 1.3280 with smt divergence on stop hunt and ote on usdx 15m
I did some Wolfe Wave research after watching ICT’s video, it is hard to train the eyes to find these at first, still not popping off the charts, but I found one today to stalk wave 5 for a long.
If Cable makes it to 5, bounces off of 5, and meets 1-4 target on Jan 22 2013, game over 
I will be looking for ICT confluences at 5 for long entry if it gets that low
Cant wait to see how this unfolds
Has ICT started trading this year live for us to see? As im sure he said he has stopped teaching now? 
i cant wait to see him in action!
Check out his twitter account:
One Million? You always hear it claimed. You never seen it Real Time. Until NOW. Monday begins 5k to one million in MyFxBook LIVE No Demo
Can anyone tell me what the leverage ratio is for in myfxbook account? I just put 1:20
Stops at 3380 now in their sights?
TP triggered at 1.3350. That’s all for today and this week, folks.
“Vi veri universum vivus vici.”
Just been analysing usdx and eurx relations and came away with some great insight like the run up that just happened today, well we was kind of tipped off before hand with SMT divergence between the indexes i have attached a link to the picture feel free to check it out…
Long term, testing out Wolfe Wave projections with ICT tools on multiple time frames. Plotted some ICT projections with confluences showing up at wave 4. If this plays out, long term short at W5.
AUD/USD - 1.0145 on April 8th down from W5, in a perfect world of course, need to see what happens at W4 first.
Does anyone know what’s going on with the fiber and cable…? I thought they were supposed to be correlated, but right now, they seem to be moving in different directions! :31:
What’s going on…?
Fiber:
Cable:
You need to draw the lines on the chart from the same location on both for it to have any meaning:
Fiber:
Cable:
So your lower red line on the Fiber matches with my lower green line.
Your lower red line on the Cable matches my lower green line on the Fiber.
The blue line denotes the SMT divergence from last week that many in this thread utilised to get short.
The yellow line denotes the SMT divergence that happened over the last few days that we could have used to get long yesterday.
My upper green on the Fiber shows the divergence currently happening with your upper red line on the Cable.
More repricing in the works?
There was bad news for Cable today, but wasn’t any news for Fiber. Fiber is continuing its bullishness from yesterday, while there are still bears threatening the Cable. (Today’s bullishness was caused by disappointing data from USA, BTW).
“Vi veri universum vivus vici.”
Thank you very much for explaining that to me!
But if this is classic SMT divergence, we should see lower prices at some point, right…? When one pair is making higher highs, but the other pair is not.
One thing I never got though, is where do we expect price to reverse…? I mean how do we zone in on that point where price could turn?
At KEY support and resistance levels.
For example, the divergence yesterday occurred around the 1.60 level on the Cable and the 1.30 on the Fiber. Both of which are big institutional figures and the Cable especially has had some significant price action around this 1.60 level. Look at the amount of support it has provided over last few months.
Okay But, for instance today, the fiber and cable was diverging, and the fiber traded right up to the 1.33 level, which in the past has provided a ton of resistance, and price hasen’t been above it since around the start of april 2012! Yet, price blew right past it!
So, would the right thing in a situation like that be to expect price to retrace from that level, due to it having provided a lot of resistance in the past, and the SMT divergence, but wait until you get an OTE-short from that 1.33 level?
the range yesterday was 3035 to 3270, then pause and pullback to around 3246. Almost no correction to speak of, powerful trend. Not likely that past level at 33 or divergence would make this momentum stop on a dime, so location by ote and prior SR and SMT are important, but also look at force of the move. Ranges, length of bars and retracements, these are useful to estimate what is going to happen, or more likely to happen at a level in front of the move.
Your completely correct about the 1.33 level being a strong resistance. In hind sight now you can see that on the daily time frame the market structure, the simple upward and downward highs and lows are showing that there have been no breaks downwards yet. So you could expect that 1.33 level to be broken upwards by this move upwards because the price structure did not break downwards.
So short term structure has not broken downwards so that daily range high could be broken.
I think it’s in one of the videos on the front page where he talks about resistance turning into support when market structure has broken upwards.
If you zoom into the daily moves marked above on the 4H or 1H charts you’ll see when price structure broke upwards then cam back down bouncing off of previous resistances as support. Then the big move happened.
On a side note, I cannot personally trade off of simple OTE’s at support and resistances with a divergence. I think some people can but I can’t without structure changes showing me that one of those levels is having an effect.
Thank you very much for explaining that to me guys I’ve not been trading live for very long, so it’s quite hard for me to gauge how powerful a move is, since I haven’t really seen that many big price moves!
So, if I look at marketstructure for the Fiber, I would definitely say that it’s bullish! If we do see a retracement, it could maybe trade back down to around 1.3130, which would be an OTE point to get long again, looking at the 4 hour timeframe. For that to be valid, we would be looking for SMT divergence with the Cable at that price level, and what else, before we took the trade…?
Or would you guys just be looking for a smaller OTE on an intraday level, to ride the trend after the weekend?
Have I got anything right here…? :22:
Something like that sounds about right. Throw what day of the week it happens into the mix and if its the start of the day and you’ll be basically doing everything taught in these videos.
Anyway if your new google the book: “Long term secrets for short term trading” By Larry Williams. It’s basically the source material for ICT’s market structure and a bit of the daily and weekly timings. It’s got good explanations of market structure and how the time of day/week comes into play.
What I’ll be doing next week is looking for the hourly structure to break down then I would sell it aiming for that OTE area if it breaks downwards while still above the 1.33 area that is. Then when it reaches either the 1.33 or the OTE area I would look for breaks on the 4H or 1H to indicate to me that price may be about to head upwards again.