It looks right to me, not that means anything because that is new to me as well hahaha.
OK, Iāve been at the charts, Iāve come up with this (fullsize image link below):
Fullsize Image: HERE
So, if we are in the BUY Market Making Profile, we should push higher, either gunning for the previous high or right up and near (maybe beyond???) the S1 level, but ultimately leave the old high from the SELL program intactā¦
Comments please, this is my first real go of trying to use the ICT template
I probably should have used the 1H TF, as the 15M gets a bit chaotic to follow at times, but this is roughly what Iām seeing when I zoom out and look at the charts from the across the room
Which raises another question: Do we always look for the same consolidation patterns for each Market Maker Profile?
That is:
SELL Program: 1x green -> 1x blue -> 1x grey -> 2x red -> 1x green
BUY Program: 1x green -> 1x red -> 1x grey -> 2x blue -> 1x green
I was playing around with the average weekly range(yellow) and annotated the 61.8% -79% area(dark blue) to the weekly range from Tuesdays low. 1.2800 right in the middle. After watching the review today, I realized that I was only focused on the previous range for targets and not looking left for the next range, great lesson, thanks. Now both targets are on my charts.
I dont fully understand what you meant but thats not always for me to understand. What I will say OTE based of previous weeks range that is what traders trinity is. For example if you pull up the traders trinity (weekly) and draw a fib from high to low you will find OTE is based off of the top blue line (middle range of the weekly trinity) to the first red line (sell region). This tends to be a strong area of price action (at least on my Aussie anyway)
Ok I think after relooking at your post your weekly range is highlighted in what looks more white than yellow. I could be wrong but those yellow lines kinda threw me off as I was sitting here thinking by looking at these yellow lines how is the blue area OTE. Either way use the weekly trinity between the 2 lines I pointed out to you and extend those lines from previous weeks. For the Aussie it works very well not to sure about the cable and fiber. Either way great observation I am glad to see others actually use there eyes to use these tools and not wait for ICT to spell it out for you. Great job man
Yours looks so much better than mine
haha thanks!, well, I think mine would be more of a āmacroā view, still unsure if it will play out like that
I think if you drill down closer into the charts, you will see more market maker profiles (BUY & SELL) within some of the highlighted areas on mine.
So as for yours, I would still like to see something like that happen, that is, a push lower into some key level of support/OTE then a rally higher, if a push up is on the cards. (We may have seen that on the Fiber this morning, around the 1.2710 levelā¦)
I added the weekly trinity and compared both regions of OTE. Trinity doesnāt quite capture what I am after. I am looking at the weekly average range the same as I look at taking 80% of the 5 day ADR but I am using the last 4 weeks of data instead. With this yellow/white box, the range is 196 pips based on a 4 week average. Basically, I am trying to capture Tuesdays High or Low and letting some positions ride for 80% of the weekly average range. From using this, my thoughts are, since Tuesday made the low and we are back above the weekly open I should be able to snag whats left of 80% of the range from Tuesdays low if it continues to retrace to a high.
Sorry about the yellow lines. The upper yellow line is the 1.2800 key low from Sep 30th. When I saw that level sitting dead in the middle of a 4 week average range OTE , and line up with another range OTE, I kind of got excited and left it on the chart. The lower yellow line was for todayās London entry. Didnāt make it down that far but had a nice OTE set up in the kill zone.
I suppose I can name the Weekly Average Range to WAR.
Also noticed that you are from Jax, I used to live in Mayport in the late 90ās.
Thanks for the reply
I started following ICT around September of 2011. Around that time he had a live account with GFT that had approximately $5K, that he was calling the Million Dollar Challenge, for obvious reasons. On his tweet today the account he is showing has a balance of just under 95K. Iām assuming itās the same account, which is mind blowingā¦ Wow. That is doubling an account balance more than four times in 14 months, which I would have thought to be impossible.
Very impressive.
$5,000 to $95,000 in 14 months looks like about %60 growth each month.
Bad math. %25.5 a month not %60.
$5,000.00 25.50% $1,275.00
$6,275.00 25.50% $1,600.13
$7,875.13 25.50% $2,008.16
$9,883.28 25.50% $2,520.24
$12,403.52 25.50% $3,162.90
$15,566.42 25.50% $3,969.44
$19,535.85 25.50% $4,981.64
$24,517.49 25.50% $6,251.96
$30,769.46 25.50% $7,846.21
$38,615.67 25.50% $9,846.99
$48,462.66 25.50% $12,357.98
$60,820.64 25.50% $15,509.26
$76,329.90 25.50% $19,464.13
$95,794.03 25.50% $24,427.48
And 25 months to hit 1 million:
$1,165,250.84 25.50% $297,138.96
If it had wasted away in a bank for 14 months its growth would have been about 50 bucks.
Yeah just to bad we couldnāt have followed his coat tailā¦
Was willing to bet there were ALOT of carry trades
I think I remember him saying he was taking more risk just to amp things up. Not something heād recommend for the rest of us but it was for his account to prove the point.
When I take 5,000 in Excel and compound it by 23.5% each month, it comes out to be just over $96K after 14 months. With compounding heās averaging 5.875% per week. I hope Iām interpreting this correctly. If we call it 6% per week, if he is netting two wins per week I think thatās an average return vs risk of at least 3:1. At this pace heād break a million by month 26 I think.
QUOTE=RobertC;420292]Very impressive.
$5,000 to $95,000 in 14 months looks like about %60 growth each month.[/QUOTE]
Really sad we couldnāt follow it. That was our badluckā¦
I find it more of a shame we canāt contribute to a fund run by him with 10% of the total donated to select charities each year, weād have a side nest just in case, but I can see how it would defeat the purpose for most since a lot of us want to learn I mean donāt get me wrong I would be right behind the guy for giving to charity however 1% from me aināt much for even a food stamp.
Stalking 1.2700 in London kill zone, expecting Judas swing to retrace to OTE from previous low to high range. Reflection is at 1.2701 in the OTE zone and is close to the stops of the low from yesterday. Limits are set.
Since i have been seeing ICTās Market Maker profile, itās been reminding me increasingly of head and shoulders pattern? Has any had the same notion?
Yes, thatās exactly what it is, but they keep telling you how to trade it with a trendline when the shoulder breaks, that is NOT the way to trade it.
Hey ppf how do you trade it . Thanks.
Looking at Barchart.com as per part 5 video, I see a huge drop in open interest with lessening of cot net shorts on the cable, fiber, usdx, gold, oil, what the heck do you make of that? Isnāt that contradictory to the way these asset classes should be interrelated? How do you get a bias with that going on? Anyone got any clues or advice? ICT? Anybody?
Thanks in advance.