Seeing a possible breakdown (Tipping of the hand) on the 5 minute Fiber/Cable.
Just sign up to Inner Circle Traderās you tube channel, all of ICTs videos are there including the trading plan part 5
Thx a lot guys
Hit SL and went short again on the same premise, this time on the longer term OTE and the 1.32800 resistance:
nice Dodgeā¦do you have anymore supporting factors for this trade like SMT divergence, open interest, COT, yields?
Donāt forget the market mapping video also.
Yes, pretty much the same as my trade from last night.
Iāve gotten out a little earlier than I would have liked , but its been a nice 200 pip drop these past few days since the 1.63 fig :35:
Hi Vinster, could you let me know what software you use to manage first tap and sl managing? Many thanks
Hi Dodge, how do you show correlated pairās graph on one chart please? Thanks
I meant to ask this to Drone Trading
Closed for +60 pips
If you consider the earlier loss, it is a net gain of +2%. Currently up 8% for the last two weeks.
Multipurpose trade manager. Google Steve hopwoods site.
Iām watching the video called āShort Term Trading - Inner Circle Traderā based on MA and Fractals.
Is there anyone still using this method?
Iām guessing you are a student of PA - good - the core principle of all ICT teaching is exactly that - his most recent videos deliberately left out many of his tools for that very reason - to see and learn pure price action - where is price coming from, to where is it trying to reach, to where will it be āengineeredā - why is it reacting as it does, where is structure broken etc etc.
The bad news is that there is no point in just choosing a particular video or videos to start the learning curve, you have to start at the beginning.
I read recently a poster say that the ICT videos can be boring - absolutely brilliant, that is exactly what trading can be - the excitement is often found in the casino, so if you want to learn then be prepared to be bored - by a lot of hard work.
Is the work worth it? - big time yes.
Thanks Vinster.
short fiber today. didnāt stay in it nearly as much as the complete move, but there something interesting about the result. On to the setup:
prior D1 swing point at 80 level (actual 83)
structure broken downside with 79 retrace of the H1 swing
macd divergence at d1/80/wR1. this was a very nice example of divergence at already key level, with bonus from weekly pivot
entered at 72, and because it was so heavy on the right side, i sized way out of average % and cut the tp short
% result was high, because position was large because risk was very low. One of the things in trading that remains mysterious and under-discussed is money management. Maybe we as traders need to be looking more into what risk actually isā¦ how to make risk work for us and for better trade returns.
Queation for a SMT people. What time period do you look at for a SMT divergence in the USDX or corolated pairs? Is it always the same time period or does it change depending on the type/duration of trading you plan to do?
You look for SMT divergence at key support and resistance levels. If the SMT divergence occurs during a key time period such as the london open or new york open, you may have a very high probability trade.
As for spotting the SMT divergence, most will use the 15M TF for intraday setups, or maybe the 1H, but it does occur on the daily time frame too.
Check out June this year on the daily TF, where the Fiber made the lower lows, but the Cable did not (from memory - as Im not at my charts)
So as with quite a few ICT tools/methods, they will work on most time frames if they are used correctly (in this case, at key S&R)
If you are trading Cable or Fiber, use those to spot the divergence along with the USDX.
Go to the first page here: 301 Moved Permanently
Watch the SMT video ( Correlation Concepts - Inner Circle Trader - YouTube ). It will clear up all of your questions.
Drone saw the SMT and posted a shot. Very nice to all who got short today.
I was long early this morning on the cable but had already taken profit by the time it tanked, thankfully.
There is nothing more exhilarating than to do it right and do your analysis, get in smart and have it be a big win. But a close second is being completely wrong, but when the stop is hit, 50% is already off and the other 50% has 2 pips profit. Thatās like getting paid to learn and be wrong.
I wonder if this is because GBP yields are so much lower right now. I recognized it would create some down pressure but there is so much up pressure on the fiber with OI tanking, I wasnāt sure who would win. And of course, now that weāve seen it behave this way, I wonder how to make it a big win next timeā¦