“How to Trade the News”
Easy - it’s only ‘News’ to the person reading the News.
You can find them here: PowerCharts from DailyFX | Forex Charts | DailyFX
or here: NetDania Charts | Forex Charts from DailyFX | DailyFX
Right click on the chart and use Overlay or Relative to and select the second instrument.
That’s correct. I will tweet it’s location.
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Much obliged Shaer, am very grateful and greatly appreciate it buddy
just watched the “Inside the Range” webinar, great segment! i’m finally getting the importance of really understanding what kind of trader we are, time frame-wise.
I’ve watched the all of the videos and its starting to make sense. I have to admit that the 1000+ pages of material is a bit intimidating. I get hung up around page 50!
Also I have gathered that there are “old pro trader” videos out there, somewhere. If anyone knows where I can find them please let me know. Don’t hesitate to contact me off line as well.
I know ICT covered in his Inside the Range video regarding how to anticipate where price may be headed for intermediate to longer term analysis, but I found it even more enlightening to go back and look at the most recent downtrend in the Fiber. Perhaps it might help some of you following along. The chart below is the weekly chart from the Fiber from May 2011 to now.
It was amazing how reactive price was to the key Fib levels (typically reactive to the 50%, 62% or 79%) using the most recent dominant price swing. Using a weekly chart I charted just the Fib levels to gauge how far price retraced before continuing downward. In the few instances where price exceeded the 79% level, I went to the next highest swing point and gauged the reaction from that point (that is the % noted in smaller fonts above the original level). In those instances it took a measurement from up to 3 swing points to find the level that it was reacting to. Either way, you could have a good idea of where there might be reactions. Also, the weekly chart is not going to show it, but there were reactions many time on a daily or 4H level to the Fib levels leading up to the eventual Swing High Fractal. I didn’t have room to clutter the chart with the reactions moving down, but the same could be said there.
As you can see, we are recently about 70 pips below a retracement to the 77.6% Fib level. Could this be the new Swing high? If not, a push higher might indicate that price is looking for a retracement from the fractal formed the week of April 29th.
On a side note, to any new ICT followers out there, don’t get intimidated by the amount of videos and posts on these threads. I just started myself about 4 months ago and I feel like I’m a seasoned vet when I talk to my friends about Forex and the concepts talked about here. The videos are amazingly consistent in the message and concepts and you should have no trouble picking up the key points. In addition it almost never fails that I pick up something different the 3rd, 4th or even 5th time I watch/listen. I recommend downloading them to your smart phone. It’s a great way to kill some time when you don’t have your computer in front of you. A big thanks to ICT for all of his time spent sharing his wisdom and experience!
Then you’ll love this week’s Market Review… :57:
It’s weird. This scene popped into my head when i was watching this review. I’ve only seen the film once and more than 5 years ago.
Guess what a seasoned trader thinks then, I’ve been doing ok from Forex, for a while now, but still frustrating at times, but soon as I looked at some of this, tons more stuff just fell into place, and there were answers to some of my observations, it’s saved me at least 12 moths, of figuring things out off my own bat, I was doing stuff because it works, but now I know why it works and someone else is doing the same. See what I mean? Well I know what I mean.
Hi Michael,
The week gone by ( 20- 24 Aug ) we were looking to buy at the sweet spot of the previous week ( 13-17 Aug)…
Minute 28 you say that this current week we look to go long around 1.23 figure. OK… doubt at this point.Why arent we buy at the sweet spot ( 1.2352) of last week range ? How does one decide what to do ?
thanks
ICT, sometimes I hear you talk about your computer configuration system. As I understand you have a computer system entirely dedicated to a trade platform. Can you decribe how such a “trading-machine configuration” would look like? And why?
It looks like a NASA Command Center starter kit.
It’s [U]not[/U] needed… it’s compensation for the years wanting it but never having it.
It’s a psychological tool for me personally to promote internal focus and visually it’s just c.o.o.l.
It’s a good feeling of “control” over information with everything in front of you… but it’s an illusion.
It’s four towers powering 12 monitors and Esignal is my feed.
Everything you need can be done on a laptop. You [U]don’t[/U] need this setup… I just do it to look cool to my visiting friends and to make my wife and kids think I am saving the world all the while building our net worth.
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I sense another “ICT Hidden OTE” quip bro… :33:
Actually, we don’t really need anything, just love and freedom.
Aye, we all know the answer is 44!
A wide second screen I do find handy though, nothing spectacular by these days standard.
What a BH here in UK, you just dont want to venture out (:
[QUOTE=InnerCircleTrader;389698]It looks like a NASA Command Center starter kit.
It’s [U]not[/U] needed… it’s compensation for the years wanting it but never having it.
It’s a psychological tool for me personally to promote internal focus and visually it’s just c.o.o.l.
It’s a good feeling of “control” over information with everything in front of you… but it’s an illusion.
It’s four towers powering 12 monitors and Esignal is my feed.
Everything you need can be done on a laptop. You [U]don’t[/U] need this setup… I just do it to look cool to my visiting friends and to make my wife and kids think I am saving the world all the while building our net worth.
i love how you come right out with it, the cool factor. i can picture you saying “and this is my other arsenal”.
also, you may not be saving the world, but you are doing a great job at saving many from the pitfalls of this trading thing.
if it works for you, keep doing it! it is definitely working for me!
maybe one day you can be entertained by some pics of our setups.
side note- i pray that your kids were not at perry hall this morning. i really hope all is well with your family
These are great Pirate. Not sure if I missed them as I looked quickly, but I did not see Bond yields. Apologies if I overlooked, but do you know if they are their.