Last Weeks’ High = 84.17…broken, false breakout - three times
Last Weeks’ Low = 82.77
New Previous Daily High = 84.35
New Previous Daily Low = 83.48
Edit:
Both PDL & Weekly low triggered and both hit stop for -20 each.
Sweetpip:
Congrates for sticking to the exercise. Now I’m sure you are full of questions and maybe even some ideas have jumped into your mind while working this exercise daily.
For the main purpose behind the exercise, it was intended to pry you away from system chasing. Hopefully you did not trade anything or “tinker” with other methods while doing this. If you have done nothing but follow this routine, you should have “cleansed the palate” so to speak and you’re furtile ground for learning. Going forward, I would advise not chasing anything else… no indicators… no book methods.
Just use the core principles presented in the new thread… as I build on the foundation you should incorporate the new material as I present it… there is no rush… no reason to race to a new method. You are building the Trader Sweetpip. 
Now let’s reflect on what the “trades” might have to offer as it relates to your future activity in Forex. The Daily Highs and Lows are incredible levels to trade of off and while it was never intended to see your trades see profits consistently during this exercise… it was intended to force you to focus on one Key turning point.
The daily Highs and Lows… coupled with Weekly Highs and Lows can provide remarkable setups if you include other S&R levels. We could have simply used Pivot Points and sold R1 and R2 levels and bought S1 and S2 levels just as easily as we used the Daily & Weekly H/L levels… the point was to clear the mentality of needing more stuff or a different approach.
Now going forward you will want to use these levels along with the other levels I note in the Trading Support and Resistance Levels video. When these levels converge or agree so to speak… or in lay terms “overlap” one another and maybe off by 15 pips or less… note these levels as Key Reaction Points. You can anticipate awesome trades to unfold at these levels… in the near term.
Note I haven’t mentioned directional bias, huh? You see trading like this… you do not need to concern yourself with that… besides many new traders are on the wrong side of the direction anyways. Do not let this discourage you if you are reading this or find yourself in this group. It will be temporary I promise you… just walk the journey one step at a time and you will arrive where you hope to be… a calm cool collective Forex Trader that has the savy to sit and cherry pick the choicest setups and have the direction in focus to find strength on the cream of the crop signals.
Homework:
Research your last four weeks and note which High and or Low converged with other Key S&R levels and how they reacted. I trust you will find the losers fall off dramatically and the winners shine through. Also note, now that the exercise and it’s intended limitations are over, the Session Highs and Lows called handsome setups that converged as well with other Key S&R levels.
There is a nice collection of setups in the last four weeks on the pair used in this exercise. You do not need to post these here… you should do the research though. I am very eager to see your development continue and I trust you are too. The new year is upon us and you will have all you need in the methods by January 1st to hunt and zero in on dynamite setups and the focus needed to avoid looking for greener pastures. In the beginning we are all sheep lead astray and fattened for the slaughter. Like sheep when we feel locked up on this side of the fence and we see greener grass on the other side… never forget… where there is sheep and grass… there is always _ _ _ _. :o
Bloom where your planted.
GLGT
This looks like something I read about before on BabyPips.
Hey Sweet pips, good to see you were able to follow that routine for 4 weeks. I myself steered offtrack after about a day (easily distracted by hundreds of other threads/systems on this site and others!). Would love to see your ratio of winners:losers after filtering out the bad trades using ICT’s key S/R levels. Let us know please!
btw, how many previous day’s high/low did you use to trade a given day? were you still using the 1st weeks daily highs/lows during your 4th week?
Yes but this fills in what that left out 
Thanks ICT. Yes I stuck to the program and did not trade anything else. Unfortunately my MT4stats is having an issue because I opened a 2nd account to answer someones question about an MT4 issue they were having, but even after deleting it, it won’t go back to my first account with all my trade history…:mad:
Yes I do have some questions but will address them a bit later. I’ve just had quite a social weekend, and will continue to have until after New Years, so I haven’t had much time to sit down and analyze the last 4 weeks yet. I have to make 10 dozen cookies for a cookie exchange party on Wed eve so have to spend tonight & tomorrow night on baking 
However I started marking the other S&R levels on my chart according to your video so I can [B]set[/B] pending orders at areas where I get a couple or more converging levels, [B]and then forget[/B]. Will see what happens this week doing that.
Thanks 
Yes it’s easy to get sidetracked here. There’s only really one other method that interests me which is Petefader’s VSA thread, but I’m resisting it for now. Othewise, I’m only checking threads that are asking for help on using MT4 or other general help questions that I can answer. I’ve unsubscribed to any other “system” type threads.
I mostly just used each day’s previous day’s high/low, but a couple of times I may have used up to the last 3 previous days if it really stood out at me. No I wasn’t using the 1st week hi/lo in the 4th week.
However, [B]now[/B] I will be looking at those prior and other converging areas as per ICT’s video on them.
good stuff. I also justed started to read master the markets by williams and have a bunch of tradeguider videos/conferences to get through. maybe we can combine ICTs method with the vsa stuff. could be interesting
Do you remember what/where that was?
So moving forward I set a long trade at 82.52 which is last weeks low (red line), as well as 4 pips away from the PDL creating an overlap area. The yellow lines are highlighting the US session high and the Asian session low. My trade almost got taken out, but reversed back into profit, and was within pips of hitting the 20 pips target (82.72) which is the US session high. However, it is currently sitting approx halfway and could go either way.
Edit:
Target hit +20
hey sweet pip, do you mind posting the indicators you’re using in your charts. specifically i mean the daily high/low and session separators (or whatever you wanna call it). i would really appreciate it, thanks.
Hi,
Here’s where you can get the i-Sessions indicator…Forex Strategy Session Breakout | FOREX Strategies (near bottom of page.)
Here’s the daily high/low indicator I use. 301 Moved Permanently It has several additional features that you can turn on or off like camarilla lines, fibs, sweet spot price ending levels (50 & 00), etc. On mine I’ve set everything off except the high/low setting.
It also has the ability to calculate different from/to times …I was setting it to calculate midnight EST, but have put it back to 0 GMT for now…
The 3rd indicator I’m using to auto draw the S&R lines as per ICT’s video is still in Beta mode…lol…so not sharing it yet until I know I’ve got the logic correct.
thanks sweetpips. and I assume you just draw the previous few days high/low by hand?
Looking forward to your S/R indicator when it’s past beta testing
Yes I do…I just trace over the current PDL/H lines with the trendline tool so I don’t get lines all across the screen. I missed drawing a couple of days on my last screen shot there, but have since included them.
ahh smart. I can’t believe MT4 doesn’t let you draw short lines. Kind of stupid.
What was left out? 
Hmmmm…let’s see… how about:
- Risk Management
- Trading Support & Resistance
- Top Down Analysis - Determining Trade Direction
- Market Flow & It’s Application In Top Down Analysis
- Pivot Points & Application
- Fib Studies & Applications
- The ICT Smart Money Tool
- Correlation & Relative Strength Concepts
- The ICT Ideal Entry Technique
- Determining Profit Objectives
- The Daily Routine
- Setting Up Your Charts For Success
- Importance Of Organization
…for starters…
Isn’t that a bit of overkill?
I knew you’d say that. :rolleyes:
I have the monthly & weekly high for UJ at about 84.35 which is where I have a pending short order waiting. It almost triggered it a short while ago but not quite. So we keep waiting.