Bones123, very clear and good answer with great illustrations very well presented mate. Thanks
[QUOTE=Bones123;430161]This is how you might be able to use a reflection pattern to get convergences for an intraday trade
Iâm sure there are many more ways to use the tool but hopefully this helps:57:
And here is how someone may use the OTE pattern âŚ
Like i said, there are a few ways to trade each and everyone can use it how they want, but hopefully these can give you a starting point to work with
P.S. - Everything could just be reversed for Buys at Support[/QUOTE]
Bones 123 thank u for your reply,
But in the second picture of classic OTE ( i have a scenario to ask) , i am attaching a picture below,
How will you enter the trade for below scenario and how can we avoid a trade to hit stop loss ( if we take a OTE at 65 to 75 % while price was coming up ) or how can we enter approx. at the top of the second swing high.
OR which entries taught by ICT would u use to enter trade , would it be SMT or optimal trade entry or reflection optimal trade entry or etc⌠,
Well I think thats the gray area of trading we have to deal with. Iâm not sure of any way to know 100% if the OTE will form AND hold, or if it will turn into a Turtle soup or Reflection etc etcâŚThe best thing I could suggest to do is have as many confluences at a specific point, at a specific time of day. For example, If we are watching a higher timeframe resistance level and we have time of day on our side with confluences of corr. pair SMT, diverging stoc. or any other tool shown ,and OTE pattern in the process of forming then thats the HIGH ODDS your looking for to trade with. But some patterns donât and wonât ALWAYS hold like they did the last time you watched it happen.
Can someone please tell me or can someone please suggest me , how to trade or avoid the scenario below pic
(Bones123 replied me to this question that it may be a little difficult to trade this( thanks for his reply) ,
but i want to know how others would trade this scenario )
How will you enter the trade for below scenario and how can we avoid the trade to hit stop loss ( if we take a OTE at 65 to 75 % while price was coming up ) or how can we enter approx. at the top of the second swing high.
OR which entries taught by ICT would u use to enter trade , would it be SMT or optimal trade entry or reflection optimal trade entry or etc⌠,
According to ICTâs teaching you sl should be 10 pips past it. So even though you get that break, youâre more likely to survive it.
The problem is you arenât posting a single scenario. There are many different ways that pattern could arise and unfold differently.
Aww thatâs adorable here have a gold star
Based on my understanding, thatâs not a reflection pattern. This is a reflection pattern:
Anyone want to confirm?
Fiber higher high
Cable lower high
Still too early to say, although I suspect that this will be a down day, above being the first hint.
sorry if I am troubling anyone with my post, I am really getting confused with this scenario ( i just wanted to know everybodyâs opinion on it ) .
thank you every one for replying to my post
Iâm not sure what your showing in those, but around 47:50 in this video High Probability Price Patterns - Inner Circle Trader - YouTube gives a better detailed description of the reflection pattern than iâll ever be able to show
thank you for the picture tansen , ( can u please tell me how u would have handled this scenario ? )
Bones is right, sometimes those thing just happen. Banks hunt stops, and sometimes it will be yours
Start at the first ICT video, then the second, etc. Any simple answer (that is what you want I am supposing) will possiibly mislead.
It depends really, you anticipating an opposing move, bonds + USDX says it should have gone the other way so SMT divergence, market profile says different or market structure, Judas swing, a lot of these factors have to play in and basically if you donât understand it avoid it.
i went through the videos rod178 , and I understand that not all trades can be winners and perfect, but I just wanted to know if there is a way to avoid this scenario or reduce the loses while we are in the trade
one way as per my understanding is to look for good confluence of points of S and R before taking a trade .
what do u think ?
There was something he mentioned long ago but doesnât really mention much now a days where you would take the monthly and weekly along with your already laid out HTF levels and find those of which S&R levels find confluence within 15 pips. What that means is if Weekly S1 is near monthly S1 and its within 15 pips that would be a level of confluence not a Support level specifically but a level.
But not only that you take something like say a R1 Level either monthly or weekly and if its near a HTF key level within 15 pips of course same deal. You can expect a reaction to take place at that level either turn back or catapult, that is something you have to determine via COT, Bonds, USDX etc
experience
Four links, with comments, below. Does anyone have any other sources for COT reports or have advice on how to make sense of those presented by barchart.com?
Current Commitments of Traders Charts free - OK
Futures - Commitment of Traders Reports (COT) free - COT data presentation difficult to apply
COMMITMENTS OF TRADERS best data presentation - $4.95 per month
COT Report Generator | FreeCOTReports.com free - does not load data