there is a divergence i didn’t notice mentioned, maybe it was.
gap down in fiber took out Thu lows, gap up in index didn’t take out Thu highs
index gapped into ote zone, followed by consolidation, impulse short and pull back into low of the range. looks like it’s selling, so i’m considering pair longs, atm long fiber, cable looks more solid but so far no entry for what 'm looking for
Well, pretty much gapped right down to my final TP for my shorts in previous weeks, the 1.2880 level. Big level (as minotaur pointed out as well 301 Moved Permanently). I was purely considering it from a S&R perspective, until he posted that additional info as it why it might complement a bounce. Technically we didnt hit it yet, I think we’ll see it again this week at some point (my reason for shorting during NYO).
As for the Long this morning, I was anticipating a run up at the start of the week, granted I didnt expect us to start off were we did 
We popped the AR low and then ran up, on the retracement I got in, 20 pip SL. that put the stop limit around 1.2870, well below the big 1.2880 level. Either, we protect that and bounce, or we run well below it, in which case we’d probably have kept sliding all morning. I’ve mentioned this style of trade before, its quite effective for Mondays trading. Typically, the level I’ll set my stop below is usually the previous weeks low (should we get 15-20 pips near).
For the NYO trade, we ran up during LO almost to the pip 1.2980 (~4 pips shy on my feed). I’ve had this S&R level marked up for months now. I’ll only remove my S&R lines if they stop being respected after big rallies. So we hit resistance, we get the slide and I went short on that retracement. I was slightly worried when the USDX made a higher high while the EURUSD made a higher low (check out the 15M TF between 10:30 and 12:15 GMT), I was thinking should I be getting long here on the Fiber [the Cable actually made a lower low during this time, but I’ve been ignore Cable for the most part recently]? But I figured the USDX is the stronger of the two at the minute (compared against the Fiber), considering all the “talk” about Europe, and that the Fiber was lagging. That was to be the case, down it went.
Also, I think this image below illustrates why S&R trumps all 
(and why I dont tend to remove important S&R lines)…
And also why I should have gone Long @ 1.2920!! LOL
no kidding,
this must be the best-timed post i ever managed.
didn;t mean it though took part out at plus 35 and the rest stays
LOL jcab I took a long at 1.2899 took a .5% risk from my usual 1 scaled half when I woke up it was 60 pips shooting for the 1.3001 and that’s it this week suuucks still waiting for ms upside. Too bad though this only paid for my failed ucad short in lo but I made it back with 0.05% thus remainder is all profit
Same as that dess VLC player is playing it fine now but realplayer where i normally download to was having problems
Asian Range ??
Hi all,
Can anyone comment on what to look for as an indication of the days direction within the asian range. I rewatched the ICT asian range video last night and did not pick out any key aspects to look on the charts for. I understand that the asian range is the accumulation period for smart money in the new trading day, but is it price action, where it moves after the GMT open or what? ICT does mention he will talk more about it in other videos and I have watched almost all of them, but I do need to review them. Maybe the LO vid?
ICT also mentions learning the Asian range from Chris Lori. I searched his site and vids, but nothing.
Any insite would be much appreciated.
Good question, there were 2 asian videos from memory. In day trading if buying, buy below the asian high, if selling, sell above the asian low.
For me the biggie… note the significance of the asian equilib and how it can be s/r a couple of days later.
For example I am trying to judge where the gap may get filled to, one of the lines is 3010, see how that is also asian session Friday equilib.
Draw a equilib line on Thur asian at 2955 - see the effect, or Wed’s at 3030, or Tue’s at 2995, or Mon’s at 3095.
That’s one of the lesser talked about, but very powerful ICT tools.
Also on the above about asian equilib - on the 1 hr, zoom back and draw a trend line down from the recent highs, but bring the line through the middle of Fri’s asian session.
See how Fri’s pa looks ‘out of place’ - coincidence?
Guys Bonds and interest rates have possitive or negative correlation?
Dunno about interest rates but I know the T-bonds have a negative correlation to the USDX
btw this is upside down in case your wondering
http://stockcharts.com/freecharts/perf.php?$UST2Y,$UST5Y,$UST10Y,$UST30Y
So the way you read this ^ bond chart is correlated to the DX (should be)
I skipped over what pete said its probably gold anyways, so you read it, but this is just addon incase he missed it.
The asian range is “typically” the counter trend to what will happen in LO or NYO.
What validates a setup is if your looking for a long your looking for the low end of asia to break and vice versa.
Some other key things like remember the elections? If the asia range is that of > 30 expect the OTE for LO to be formed inside of asia.
There are a few other bits like seek and destroy days that pete can probably fill you in on
trendlines, they are one of the tools i like to pay attention to.
Not as obvious to draw as horizontal S/R lines, but to make it easier, try looking for oblique lines that reverse role and turn from support to resistance and viceversa the same way horizontals do. This helps with sorting between the many trendlines that can be drawn on the chart,
one example in fiber, trendline defined by a-b, parallel through point c, reaction at d, e, at point f it tests the backside (resistance turned support) then take off, then notice where the gap landed, and point g was an exit. some attention to t-lines can be time well spent,
cheers all!
tansen
For the “typ” asian range counter to LO and NYO. Am I looking for the open and then price to come down in the asian session for LO long days and inverse for shorts?
negative. yields go down when bond prices go up and bonds are more expensive to buy.
yields go up when bond price goes down.
The way I see it is may or may not be related to everyone else but the way I see the range is 6pm EST - 12pm Midnight EST (This is also convenient because my broker is also EST).
Scenario 1.A
Is Asian range is lets say I’m looking for a buy and its within a 30 pip range, I am looking to see if the general trend of this is down. The Buy is not 100% confirmed because price is a strange beast it can easily rocket up and break the asian high but perfect world scenario what happens is lets say first is it raids below the asian range, it confirms a buy for me so anywhere below that asian low I’ll be buying obviously I’ll be using OTE.
Scenario 1.B
Asian range is down under the 30 pip threshold but suddenly breaks the asian high first and continues. At this point I will chop it up and see if we will raid the asia low by NYO 7-9am EST, If we do it may only even be a few mins but it will confirm my buy and again this is NOT 100% you have to use the HTF to confirm your trend.
Scenario 2.A
Asian range is > 30 pips what typically happens is since i dont trade this session a lot if not at all the OTE will form within the asian range going into london, At this point depending on how your reading price you may choose to disreguard the asian range low being broken or test. It may or may not but depending on how hard it goes in Asia big boys might have a lot of positions protecting those lows and do NOT want price back there so it will fly.
Scenario 2.B
Asian range is either > 30pips or < 30pips these are your seek and destroy days it will constantly raid the asian high or low and/or previous sessions so you may want to look out for very slow and choppy price action possible swing points if you want to trade them that badly as the previous asian H/L’s as they are potential “collection” points for positions.
Hmm interesting thought, how reliable is this 30 pip indication the day will be choppy? Does it repeat often and with a low failure rate? I could go to the charts and check but I’d like your opinion, seeing as you brought it up.
Its more of a trade what you see concept, if you see it setup then take it but if not then you know use other tools.
Starting to think trading is more about identifying specific behavior patterns and taking on those which you think based on everything on your check list price is going to do
Tansen thankyou for such a detailed response. I am going to search for some of these set ups and try and post a pic related to you headings.
Ok, I understand. Sounds like you use it as a sentiment indication rather than a structure for setting level/entries.
Well trading it can be viewed as a probability the more you check off that confirms it just increases the probability of your prediction being right
