HI I have just finished reading Long-Term Secrets to Short-Term Trading (about a month ago), it has alot of useful information in there, but I disliked the format in which it was put together, there were far to many tables to illustrate a point after he made an amendment to his strategy, this made it a bit of a battle to read.
But if you stick with it, chapter 14 has the best of his previous newsletters, for that alone its worth buying.
As a comparison below is a Cable Wolfe Wave bullish entry. The Profit Target 1 being approx (just precedes) the entry point for a Short on the above One2One pattern. Found it interesting how these patterns may fit, especially on H1 and H4, with ICT methodologies down from the higher TF top down analysis.
So are you saying that AB is like an impulsive move in the direction of the trend, with BC being reactive, followed by CD again being impulsive and equal to AB. I spent some time trying this stuff (harmonic patterns) too, but it seemed like I was spending time trying to discern X from A, when the time could have been used to better understand market structure, yields, profiling the market. Perhaps itās all about whatever speaks to one the loudest. As an accountant, I find Michaelās method of top down analysis to be close to the ātruthā, but Iām also increasingly appreciating the power of candlesticks and enjoy Nickitafxās thread a great deal.
[I]you need to track the countryās overnight lending rate[/I] is mentioned in the first traders plan development. However, i cannot fully appreciate what it actually means. If the lending rate increases does this translate to a bullish scenario for the particular currency intraday?
In my business, the low rates mean banks lend more $ and that results in more $ in the market. So Iād say that would have increase supply and bring the value down.
Rod, hereās that Wolfe Wave I lost faith in (from post on 27th Sept) but shouldnāt have as it looks reasonable from that early October bottom, being wave 5ā¦just a bit more patience was needed
Also, that Cable long term resistance breakout now turned supportā¦but will it hold as itās retesting itā¦? (Apologies for the odd price on the Cable, not sure why itās 1.619, should be 1.6127
I am still new in ITC. I canāt still found correct OTE. My Q is if my OTE is valid right now on Daily AU.
A is at 25 jun price 0.9968
B is at 10. aug price 1.0616
Is this Fob correct?
If you draw a fibb there, then that would no longer be valid as price would have hit it on the 5th of september.
The OTE pattern is the move and the retrace down to the 61%-79% area then back up.
Watch all the videos in this thread multiple times then watch all the market reviews to see how its done.
AK, Presently, I extend the asian range boundary lines out about 10 hours or so. Just to clarify what you meanā¦do you mean that you extend the asian range boundary lines of Sun/Mon through the whole week? Or do you mean that you extend each dayās asian range boundary lines an extra 5 days?
Thanks.
Thatās the concept in one of 'How to capture explosive forex profits isnāt it? If you came to that realization on your own, congratulation. For reinforcement, check out that video.
ICT talks about his concepts being fractalsā¦not the bill williams indicator definition, but the webster/math definition which is repeating similarity on different scales. The actual ddictionary definition of fractal: any of various extremely irregular curves or shapes for which any suitably chosen part is similar in shape to a given larger or smaller part when magnified or reduced to the same size
Basically, the judas swing is a fractal that can apply on multiple timeframes.
i wonder if anyone was interested and has knowledge to create a pivot-like indicator for non standard periods. this indi would treat a user defined period, for example 40 hours, or 52 hours as the base unit (what a day is to daily pivots) and create pivot lines for the next unit of same period length. could lead to very interesting findings
