It’s not a noob question, I was wondering why he did that too and the best answer I could come with is “Poetic License” or “Taking Liberties” as some would have it. Or it was “Spot the deliberate mistake”, the fact that you found it shows you have market structure down.
As for Short Term High/Low’s, If a STH is broken and the STL isn’t - then looking for an Up move and the breaking of new STH’s but keeping in mind the overall context of MS and Trend, until the reverse happens and STL breaks and STH doesn’t then start looking downwards, so on and so forth.
Some posts back, I made a similar screen shot and noticed the same thing. The number 4 ring in Lucariga’s screen shot isn’t supposed to be a blue by the rules.
I don’t know why this is. Since this screen shot is also showing a market maker profile (though not colored or marked for that), maybe it is a ITH as it makes a place where he is looking to sell.
Most of the guys here have ditched the indicator and are simply looking for old highs and lows getting taken out bouncing away from key support/resistance. Or are looking at the 1H and 4h to give us a weekly bias, then daily bias.
In ICT’s Yen you see it… video, he said we are about to make an ITH. I have no idea how he could know this as we all tend to watch the chart after price has is just about to form one.
Last night, I saw SMT divergence at the WPP and sold the Cable, the lead pair, for 30 pips. +1%. Now that I see it on the 1H chart, we formed a picture perfect gartely ABCD pattern with an appropriate sell off at that point.
Heads up everyone. Yearly Pivot point of the Fiber is 1.2907, Cable is 1.5927 and it is usually hit early in the year. Will mark on my chart as key support to watch for a solid bounce or other behavior.
quick scalp, 0.2% risk, 0.4% reward wave 5 into ote, was looking to get long all day long, smt divergence with usdx and bigger divergence with fiber as already mentioned. also h1 stoch divergence on cable, eur/gbp reached resistance imo. thus i took cable. fiber offered something similar though, but i dont like the clean bottom on fiber, could see a raid. thus cable offered less risk
Unfortunately i don’t use mt4 cause i’m with FXCM and his mt4 has a daily candle close at 12 pm gmt instead of 5pm est.
Which daily candle close time do you use? Is there any mt4 which closes the daily candle at 5pm est that is the real daily close?
Yeah, great London, so you’re accumulating. But for which direction? We are at MPP, and 386 retr so confluence resistance. If we move up past it might we retest the 1.3300?
Bond yields up = risk off = Cable Fiber up.
COT OI has dropped and commercials lessening short confirming we’re likely in a new down trend because they buy weakness = Cable Fiber down.
Well that doesn’t help at all. Where did I put my crystal ball…