I had been waiting for this move all week and I’m so happy I caught it today…
The fiber kept making lower lows from week start while cable failed to do so.
Cable also presented a nice OTE at a higher timeframe along with other confluences such as stochastic divergence, Pivot buy zone etc.
It moved directly to take out the pocket of stops set previously in the week and slowed down/stopped there.
I am very happy to report a constant growth to my live account over the last few months, thanks to ICT methods. Michael I owe everything to you and your teachings here. I’m so thankful for having stumpled upon your thread last year and have been a dedicated follower since.
Leccote, Bobmaninc and whomever else was having the asian session indicator problem. MCAWally has found a solution!
This works really well. I didn’t download this attachment because there is already an “ICT daily line box” indicator. Just enter the start time the way Wally has indicated and your all set. There are lines that move 12 hours out to the right of the asian session indicating the high and low which i kinda like. However if you enter 3.0 in the “ExtendHours” input, they go away.
Before we get to the weekly review video on Sunday… let’s ponder on a few things… shall we?
This week I laid out the “framework” for the entire week for you in two videos.
Directional Premise on both pairs. Cable strong buys - Fiber Shorting Candidate as setups form.
We had the key levels in advance noted.
We understand “when” to look for the key patterns in our arsenal. [Killzones]
I highlighted the higher timeframe level to watch all week and how price would [likely] behave. [Prior to it’s action real time].
The goal was to find one solid setup per week and to exercise discipline to only take that one shot and one kill.
Note the setups and pips laid before you all week given what was outlined in both videos shared here…
You have until Sunday Noon in New York to post your post week highlights and compare those with mine shared in this weekends weekly review. Let’s see how well you do… this actually does assist you folks. Participate for your benefit!
Hey PPF… very good focusing on the weaker sister of the two pairs.
I’d like your feedback as it is something I get asked a lot in emails. You trade with VSA, and while I am not interested in this approach personally, could you share your observations now that you have spent some time with the concepts I share. Do they work well together? Is there any conflicting periods you have noticed? Has the concepts here amplified your results or dimished them in your opinion? Being a VSA Trader, you would have more insights to share than I would… the thread readers could find it useful insight.
Thank you for taking the time to present your feedback and views.
Sorry ICT. On a weekend away so I can’t post anything for your request this time. I have however over the last couple of weeks netted about 500 pips on my live account using the daily timeframe and your techniques. If I was more aggressive with profit taking it would have been around 750 pips. Lovely jubbly. GLGT.
As you probably know I went very much in-depth with VSA, and concluded that in itself, it is of limited value, I think a lot of it is dated as a trading methodology, it just doesn’t apply to the the 24 hour volatile Forex market, (using the word volatile advisedly, it’s a relative), having said that though, there are 2 key elements that I look out for, which is extra high volume, and extra low volume. I only use this on the 5m and 15m timeframes.
Very Low volume with a narrow spread, indicates a trend continuation.
Very High Volume with a narrow spread pinbar, indicates a reversal.
Very High Volume with a widespread, indicates a strong move, so then look out for a pullback and then continue.
The rest of the stuff in between, I don’t find very useful at all, I find it very difficult to ‘read’ the chart using the principles, and also waiting for a No Demand or a No Supply ‘signal’ for an entry I don’t like, you see so many trading opportunities pass you by while you are waiting for an NS or ND, and generally you find that the market has moved before you are confident of the trade, while using OTE is so much more effective, I knew I was missing a trick
As to whether they work well together, absolutely a BIG YES, but as I said above, just using the extra high and low volumes and nothing else, use that as a final confirmation to be 100% sure. Just using VSA you get an issue like this, you get a high vol pinbar, indicating a reversal, but you can’t just trade that, the market may well move further and give you another high vol pinbar, and maybe another and sometimes another, but if you for instance see a high Vol pinbar, you then go on high alert, review the market, look for pivots, check timing, Judas swings etc, you got the making of very high probability trades.
I like to keep things as simple as I possibly can, ok sometimes you just can’t, so you either got to stay out or make some deeper analysis, but for those of you that are looking for simplicity, look for those extreme volumes, use Pivot Points, and look out for stops being taken out going into session opens especially London, if you don’t make a profit doing that sensibly you’d be doing something seriously wrong. Extra Low volume for trend continuation gives you great 20 - 30 PIP scalps, as in my 15m Trend Continuation strategy, add some basic ICT concepts to that, and it turns from an easy profitable strategy to very consistent high probability trades. 90% of the time the market will move 20 - 30 pips after very low volume, so you get some quick handy scalps, sometimes it is quite obvious which way the trade will go, and if you stick to them you can get 3 or 4 nice scalps in a week in a nice trendy market, but sometimes it’s not so clear, but when you apply some more analysis as I mentioned you can get more right.
Some comments I get with the 15m strategy and I’m sure this will resonate with you, is that it doesn’t give you enough trades, a couple of weeks can go by and you get no decent setups at all, and traders often don’t like this, if a system doesn’t give them a dozen trades a week they think it’s no good, but if the market doesn’t want to give you 30 pips there is bugger all you can do about it. These comments quite obviously come from non-profitable traders that are ready to knock anything that doesn’t give them at least 1000 pips a week, but if you can’t take a basic simple system that just works you have no chance of moving on from that to deeper and better analysis. It’s like you (ICT) said in a recent video, if you’d have put everything out there in one go, it would have been information overload, you have to start with basics and build from that, but it’s Forex and I didn’t do that at the start, I went head first from pillar to post getting knocked left right and centre, but hey, like I keep saying, 3 years spent becoming a profitable trader, was 3 years better spent than doing a degree and ending up with a pile of debt, with the best prospect you have is a 40 hour week in a stressful environment working for a jobsworth boss on a mediocre salary.
I was away and didn’t have a standing close set for the day I made the trade on the sixth, so I set it to break even and let it run the next day on the 7th. Not the best way to go about it but it worked out. This was my trade of the week.
I already know those videos, longechoes, and I dont think it’s them. I was referring specifically to the videos (2 of them, Michael said) that “laid out the framework for the entire week”. I even quoted what Michael said when I posted the question.
Hey DonaldQ, The Videos ICT is talking about are the two most recent reviews for this week that are further back in the thread. One is on page 366 and the other on page 357. There maybe another one a couple of pages before that too. These are the weekly reviews that ICT does, mostly on a Sunday night. He does some ad hoc ones too from time to time. These can all be got on ICT’s youtube channel too.
The videos are posted in this thread on August 6 & 8 and also found on our Youtube channel. Subcribe and it get’s delivered to your email as soon as I produce and upload.
Thanks PPF… I will use this post for future inquiries. I simply am not, in all fairness, versed to respond to their questions and comparisons. I appreciate the feedback and willingness to outline your observations between the two.
With all due respect, PPFX was asked to stop posting in my thread because he didn’t follow the method correctly. It didn’t really bother me, but others told me it was confusing to see a senior member in my thread posting alternative setups. [I]I do however respect that one can think for themselves and not blindly follow[/I], but let’s be clear, that’s what I saw. I do also check for confluences, NS/ND aren’t the only type of entries. Also, with the explanation, it sounds like you are singling out 1 bar when it’s a story line.
Is adding things along with the method ok? Absolutely, we agree on that. I do that.
OK, I knew I shouldn’t have come to bp on a Saturday hahaha. OK, see ya round.
I asked PPF as you haven’t participated in our threads save the occasional post here or there. I assumed PPF could give his opinion on how VSA works or does not work with the concepts I share here. I am not a spokesperson for VSA but I suspect folks reading would be interested in your thoughts on the two approaches and shed some light on the matter.
Keeping in mind there is nothing wrong with blending sound applications when and where useful. I appreciate both you and PPF for your experience and input for our readers here pondering it.
The only thing in my opinion the Fiber had going for it was the swing high and entering short on Thursday @ 2380 and holding for the projection 200% at 2265 on Friday. Then entering long on 4HR OTE at 62% level @ 2250. Big time divergence between Cable and Fiber at this point indicating a push higher. I used this analysis to long the cable since it was the stronger of the two pairs.
