it was going to be a forex blog where I log trades, but I changed my mind and now use it to organize ICT’s vids. still a WIP & runs kind of slow because of the web host. apparently they don’t play nice with wordpress. i will probably switch hosts eventually.
Went long again a bit below the 1.32000 level. Same general principles as yesterday’s trade. I waited patiently all week for a trade to line-up, and now I have two in a row
Read up (watch up?) on what ICT says about SMT Divergence. Essentially, you are looking for the signs that big money entered the market. If the EUR and USD are highly correlated, and one moved past resistance, where another bounced off of it, it can indicate big money just entered at the resistance level.
Hi . I am a new at forex but study ICT videos and Pipschool. Yesterday at cable 11:45 timeframe 15min and 12:00 . Also look at fiber at the same range . Isn’t this a divergence in the correlation between cable and fiber? Isn’t this a movement for " smart money " as ICT has taught us? Can someone please tell me if I am right or have I misunderstood the concept?
Thanks
so now… closed 20% at +45 and another 40% at +90. holding the remaining 40% on my fiber short from 1.3280 to target a break of that “clean level” at 1.3140.
Hi. Shouldn’t u go short ? How did u conclude that it will go long? There is pin bar , resistance and “SMT” .
I am just trying to understand as I am new here. Thanks
I’ve been short at the 1.63 lvl on the cable since the 19th, with a very very small position taking off small portions as it went down and retraced back up…I didnt really want to take on any trades especially around christmas time but it seemed to good to pass up, with the major resistance level, SMT divergences, some COT data etc etc…I pretty much only took it to build up my psychological strength, learning to trust levels and everything. Because it would have been very easy to just say “yea i WOULD HAVE traded that level because of the tools” but its a whole different ball game to be able to say “i DID trade and trust that level because of the tools” and that is something i’d like to work on
Did you guys hear it?! I got a shout out in ICT’s last video: “Some of you guys put an “S” on my chest…” That’s me. He was saying not to do that, but still I got a mention in the video. Woohoo!
This last video set it in place for me. We now have directional bias. Cable lokks to have a hit a major S/R, with tanking yields, spiking open interest. Sounds like a sell program about to fall out of bed. Put the cable on the 1h and check the market structure. Every fractal since the 1.33 has been an OTE. YOu could have sold at every 70% retr, taken ast least the first tap and been building positions, scaling into this down. Guess what I’ll be doing in the next few weeks? Taking first 20-30 pips of the hourly OTE, letting the rest run with a trailing stop would mean you’d have some very pricey pips and no risk as of this morning. Even if 1h structure breaks, you have gotten at least your 20-30 pips bounce before being stopped out (this week there was no break in market structure). It’s hard to lose money when you have no risk.
I’m glad I found this thread. I’ll just say that much.
Hi thanks for reply. I thought SMT right @the beginning, but when you pointed selling pressure just around resistance i thought Hmm i haven’t see that before, as with smt concept we match highs and lows.
Great trades and nice explanations on entry criteria. Keep them coming