sure, reflection on the fib is at 1.4184, which i think was 1/0.705
gap down into a 79 ote, could be the ITL
Ditto (I’m waiting for a GBP/USD short signal which translates to a stronger dollar).
will do, cheers
Here is how I view the previous low from Friday coming into Asia.
- Sell stop orders will be stacked there for those long on the first push up.
- Sell limit break out orders also stacked for the bears, which will create buy stops to fuel later buying pressure.
This equals SM buying/pairing order flows at a better price so they can make profit off of borrowed money.
The first push up breaking the previous 15M high then retracing will get even more retail buying setting up more Sell stops(buy orders for SM.) This is text book ABCD, 123, etc… Is SM engineering traps???
Looks suspicious to me.
This could be a liquidity pocket for SM to get the buying pressure started to suck in new longs to 1.3020
Looking at R/R, a c/t scalp for me is justified due to the size of the range up.
I am anticipating a LOKZ low breaking below previous Friday low. This is the only buy scalp scenario for me.
THE PLOT THICKENS
In addition to the 1.2880 resistance I mentioned in my previous post, there is now SMT divergence on the OTE. Went long EUR/USD a little bit ago.
Fiber
There is a Reflection Long setting up a few pips under Friday’s low.
Fib today’s low to todays high
This is why Kill Zones are so important IMHO.
This is the key difference between trading in a Kill Zone and at other times.
Have you taken any trades on the fiber today? I haven’t seen any signals which would make me take a trade yet, even though I really wish I had when London opened
Yep yep, got in at 1.2890 @ 7:30, with a tight 15pip SL, (I figured we’d trip the Asian low stops before heading up). 50% off at Asian high (breaking MS to the upside), now we seem to have an ascending triangle on the 15M, signalling a push high? Clean levels around 1.2910
Nice entry! But, what made you enter at that price level? I’ve been watching price now since 7.00 GMT, and I haven’t seen any entry signal? But, I’m very new to this ICT trading, so that probably has something to do with it!
i’m looking for search and destroy. so i think we have not seen the low AND the high of the day yet. looking to enter against first breakout
edit: have a look at oanda open positions.
After a big drop, we need liquidity, so Z days normally start to occur (as hinted at by TopFroxx) at the start of the week to soak up any stops.
If we are going to take out the stops at 1.2950 & 1.2980 before we get lower (4H MS bearish), we need a sucker play to get everyone back in for shorts, so we drive price lower (like this morning) before sending it up, putting all the short sellers into a place they dont want to be.
But ofcourse, it could have kept going down therefore a tight SL just below the lows on Friday.
Also, what you did was exactly what you should have done. No signal? No trade. Well done. There is nothing worse than jumping in for the sake of it. Bad habits will occur if you do that. Patience is key
I think I’ll see what develops today, could set up for a nice long tomorrow.
Well, I was actually waiting for that type of Judas swing to happen, but when you are right in the action so to say, I find it VERY hard to figure out exactly when to pull the trigger and open my trade! When the price was trading down, I kept thinking it was going to trade lower. When price then started to retrace, just before London open, I kept hoping it would trade back to that former low! It just went on and on like that, untill now, when I’m waiting for an OTE to go long, from the low just before LO, to the high just after LO.
do you have the inverse of the action of the 26th and 27th of november in mind? (i do)
Well, if the NY session goes long, then we could well end up with two pinbars on the Daily chart, so that can be taken as a strong bullish signal.
Suspect that, before any big run up, it will be taken down once more, to about 12875 (dS1), maybe lower eg 12850 or 12820 (near ADR low and dS2)
First maybe Shorts above 12920 will be taken out.
thats pretty much my view