ICT, can you comment on the average number of trades you take per week? I don’t remember ever seeing this, but I may have missed it.
Open Interest:
“The total number of options and/or futures contracts that are not closed or delivered on a particular day.” From Investopedia.
As open interest increases so do the number of positions open in the market. As open positions are closed off the line will slope off. If a large number of positions are closed off rapidly then the line will head down with a very steep gradient. If we combine this information with COT data we can see when the large investors remove or add to their positions.
Increasing OI indicates increasing positions and so a possible continuation of current trend. A slow fading out of OI shows the trend is possibly reaching its end. A rapid drop off often indicates that the trend no longer has committed traders and a reversal is what I would be looking out for.
Just the Open Interest, OI’s value is the left x axis. (Ignore the bars):
If you compare the dates when the OI dropped in a rapid way it correlates well with reversals in the long term market.
I used the charts Michael was talking about in the latest module video. I can’t post links without delaying the post but if you google “barchart cot reports” you’ll find them for free, Open Interest can be added at the bottom of the charts in the drop down indicator list once you select a futures contract to look at.
1-3 per week if you average… 4-6 typically a month… in the majority I would say I am very boring. :57:
Aren’t all those big OI decreases due to contract futures roll over. It seems in your picture they all happened in March, June, September, December around the date of roll over to next quarterly futures contract.
Not a clue to be honest! Looks like it though.
All i’m basing it on is Open interest increasing is hinting at continuation and decreasing is hinting at weakening/reversals
Yeah I agree with that. But when you said “If you compare the dates when the OI dropped in a rapid way it correlates well with reversals in the long term market.”, I had to point that out. I don’t think you can glean anything from OI drop due to roll over.
Mate…
i get the fact that you dont believe me…
it sounds like i haven’t traded it…
so ill give you a link to my account stats…
https://www.myfxbook.com/portfolio/sml555/394089
Check it out…
the reason im sayin it may not be reliable is dat i have seen that the indicator fixes itself to the way the trend goes eventually…
but in real-time…
its easy to stuff it up…
dats why i dont think its that reliable…
Only ??? I thought you’d take atleast 15 trade’s or above. Though you take 4-6 trade’s a month, you have the ability to take trade’s everyday and turn those few bucks to 5 or 6 digit’s. That is where i’d like to be. Still struggling to get to that point. I know it takes time though.
4-6 is about my average too. When you stick to key setups and swing trades rather than intraday you end up with about 4-6 good opportunities a month.
Thanks for the reply. I was taking it as intraday trades not exactly swing trades.
Dos anyone trade Kiwi and Aussie and EurJpy GbpJpy using SMT divergence ? If so, is it as reliable as the fiber and cable ?
Thank you.
Thank you Woolo…
Weekly results:
I made several trades this week - out of my plan - trying something new 
However within the plan made two solid entries later in the week to net 2.08%
wk1 +4%
wk2 -6%
wk3 - 0%
net -2% month of october. (maybe next week can provide a little 2% winner to end up break even?)
OCT then
.o8% return - where most losses were stupidity - looking forward to do it smarter this month / week.
This is my first attempt to breakdown HTF and to post in a forum. My big question, did I plot the Reflection correctly on EURUSD.
What I see, SMT Divergence EURvsGBP, EUR Reflection at 4 week low and 20 level and 127 from wave down prior to broken lows. GBP new weekly key support above 00 and 20 showing a doji and last 4 weeks forming possible swing.
Previous low on EUR broken, was this a stop raid?
Quick thanks for this thread and all the time devoted to creating your videos.
.
This is what happened the ( blue arrows ) moment NFP happened. Yes , I know Michael doesnt trade that. Reason for putting it here is that USDx v/s T-notes. They moved opposite.
Does anyone know why that happened ?
thanks
It happens pretty often from what I’ve seen, I don’t think intermarket relationships are that strong intraday. For me they’re more useful over the larger timeframe. I can’t tell you how many times just this month for example I’ve seen equities and eurusd moving in opposite directions intraday.
Being boring and profitable beats being exciting and leaking money 
Can’t agree more…