The Inner Circle Trader's Millionaire Traders Guild

For this scenario there wasn’t a trade in killzones.

As asked by ICT in his last video, Here is a comparison of AUD.USD and NZD.USD market on a weekly basis

We could clearly see that

a) both market are correlated
b) both market to create a lower low ( spike low) in the last week of November 2011
c) Aud.USD did cross below the last spike low in the first week of June 2012, while NZD failed to go lower

Here is my own analysis, using my setup.

This is a Spike 3D setup (L.I.V.E.) from Ivan Krastins. Should had look for an entry signal to go long the next week as it occurred. The following week opened with a gap ( entry signal) and was a bullish engulfing to go long


It’s the first week of August and NFP and Summer folks… Scale back frequency and risk per trade. Keep your powder dry and you will be ready when the field is ripe and ready for the reaping.

:57:

Ok,

Pitches up Sniper nest tent

Hey hey find your own field. This here is my sniper hole :smiley:

maybe you guys can snuggle up together in your foxhole:D

Easy killer lol. He is not my type but I will give a lazydog a tail. Here puppy puppy :stuck_out_tongue:

[QUOTE=InnerCircleTrader;380476]It’s the first week of August and NFP and Summer folks… Scale back frequency and risk per trade. Keep your powder dry and you will be ready when the field is ripe and ready for the reaping.

NFP is obvious. could you explain why the extra caution during august/summer. thanks

Hey ThirdPillar…

The Summer months have spotty and many lackluster periods where Price can appear to offer wonderful opportunity… but in reality these little opportunities are cleverly disguised impossibilities.

:57:

Because for around this time we should see some bearish consolidation. However with NFP its going to be volatile.

I dont like posting this after ICT’s cautionary words, but looking at Fiber on the 1H, there seems to be a type two divergence forming (stochastic) with an OTE currently at 62%. There also does seem to be an SMT divergence on the 1H as the Cable is making a lower low vs yesterdays low while Fiber is not. Am thinking of searching for an opportunity to go long on the Fiber. Anyone else like this?

Then I’m on 1% risk until after August lol I didnt kno about this seasonal tendency I always heard sell in may and go away lol but I didn’t kno that applied to forex as well. When are the best season? I’m thinking Q4 and Q1 because of the holidays and I think that’s when stock usually rally isn’t it?

A question I’ve had recently come up. Should I be using GMT time candles or is it ok to use a broker that gives me NYT feed? I was wanting to do some candlestick patterns and I didn’t kno if this affects it to much.

+1, would like to know this also. Actually, I’m in GMT+2 as that’s my broker’s server time and I’m not sure if it makes sense to work hard with these time settings or to look for a broker with GMT and start from there again.

Btw, since I’m new to this thread - hi everyone! And to ICT - thank a loooot for a great, great amount of knowledge :slight_smile:

the market is really playing with my feelings right now hahaha
I’ll stay in my hiding spot, waiting for a clear target to show up…

happy hunting and careful out there
cheers

Guys, I’m off for 3 weeks in the 40 degree sun, hope you have good trading and see you in September for the start of the trading series.

Its interesting how this week the Cable is posting lows, and the fibre is posting highs.
SMT all over the place, But it’s not giving me any good indicators for entrys.

Folks, Interested in any comments you may about this, it looks very bullish to me… don’t beat me up to hard.

Fibre


Cable


Is this bullish SMT on cable/fiber the pricing in for the NFP spike up on friday? (maybe 1.5480 support ? )

I was expecting a reply by now, so since there hasn’t been, I’d like to interject a little if I may, to be honest it’s only recently I realised how such great info ICT has here, there is much more than a pro trader here, I think here we have someone who is able to put things over rather well too, if a little long winded ;), but maybe that’s the key.

So, SteveB, I am quite an experienced trader, and if I may offer my opinion, taking into consideration aspects of ICT’s teaching, and of course it’s always easy in hindsight, but that is what has so impressed me with his stuff, it shows you how to anticipate and take the right action at the right place.

Sorry, bit of rambling, now down to nitty grtitty (30) , You have not drilled down enough for an entry, OTE? high was made pre 9 am BST after a little goaty, so it’s unlikely that high will be passed at least until 7ish am tomorrow, and then you’d have a chance of an OTE, with a tighter stop loss, and higher probability.

Hope that helps, feel free to knock me if I’ve butted in uninformed, but I had a really satisfying day, using the Judas swing, highest of the day pre 9 am, (high volume, no progress :wink: not sure if it applies at all on this thread, but…), OTE entry, if a little far from the 70%, take 50% profit at 30 pips, move SL to BE, stopped out, then moved …

ICT - nuts man! I have answers to questions that I didn’t have the answer too, when people asked me, why do you do that? Or even asked myself - “why do I do that?”, - well it’s because I do it over and over again and it works and it looks like that, to quote ‘proof proof’ or ‘observed proof’, whichever - I now see the grid where the Higgs lives :wink:

Hopefully my input will be seen as helpful here.

Just one thing :edit: editeditas I was saying b4 i got caught short:)

On a daily chart we have entered the OTE also. I’m just using my phone so not sure but it looks like it to me. On the cable that is.