Flying Rhino,
Thank you so much.
Yes, there was no divergence of Fiber.
Therefore in this example this should be my thought process:
Since Cable has a bearish divergence, we look for bearish OTE
Of course, once I add that Fiber touched prior day high makes it more powerful.
Thank you so much.
Csk.
Hey LongEchoes
I agree, what you said is very true. I think many people (including me) have traded based on expectations and not what the charts are telling us. I think one of the truest statements in trading should be ātrade what you see, not what you thinkā.
But again its the psychological side of things that will impact us. Having a successful strategy i think is only 1/3 of the puzzle, i think the other 2/3 lay in psychology and risk management. A strong and correct application of each will keep you consistently profitable. I think this forum, and these sorts of threads are helping me to establish both sound risk management ideas, and a good trading strategy, but the psychological factors are something which we have to master ourselvesā¦
Re SMT divergence, I am only a learner but I view it as a āfootprintā of the banks.
Imagine that they know some bad news for the euro, they have longs and want to off load.
They need buyers - so they need to push price up to entice - it takes a lot of funds to push up either of the 2 most traded pairs -one is chosen, the one most appealing (see gbp last 2 wks). Now divergence happens - one pair going up - the other holding.
Then bang - the banks sell (at a high price) to retail and often institutional buyers -hence smart money (see bank profits of recent times).
So when I see divergence at a big fig or s/r level (where banks can only have liquidity due to their large amounts - they canāt get that at any old price) I think āmark of the banksā.
Maybe Iām wrong, maybe I am succombing to to the conspirancy theorists.
They are labeled as āsmartā only because they can move the market due to size.
We can be better, think of their bonus (greed), their target (where they need price to go), and then ā¦ this is the part I need to learn.
Hey guys, the old livestream link I used to use looks like its no longer working. Is Michael still using live stream? If soā¦link please? Or is he just posting videos in the thread? Thanks!
Matty
Babypips Inner Circle Trader - live streaming video powered by Livestream
welcome back matty ! :59:
keep me updated with yours trades
Thanks. Good to be back.
Matty
I think your assumption is very true. Economic calender of yesterday- France/ Greece
election impacted the marketā¦ opening a huge down gap. Earlier 4th of this month
despite of US unemployment decline, Fiber moved up to make the chance Big boys
off load and to knock out those were short. ( See the NY session of 4th May)
Direct download link for market review 5.5.2012
Download 4988ab1e-9c65-4ff9-9853-786ā¦37.mp4.flv - BitShare.com - Free File Sharing and Storage
wow today was tough to hold on to my: DONT-CHASE-rule;)
still flatā¦ and my sundayās weekly-analysis was kind of thrown overboard as soon as the socialist in france was elected;) so lets see where price is going this week;)
happy hunting!
Agreed should make for an interesting week. My gap got slammed shut on the Aussie stopping me out in the process +120 pips. Its ok though leaves me open to put this great idea I have into action. That plan I have is to let this gap close see what comes up later and try to short the Aussie :p. However after last week I am not to sure I will be getting to many entries. Time will tell week is young. Big things going on in the markets cant wait to hear Germany respond to the events that have unfolded. This should get real deep soon.
Iām anticipating a retracement for EUR/USD & AUD/USD to sell, both pairs are heavy oversold based on the Trinity and I donāt see it as attractive to sell that low. After such price action, there is usually a larger retracement. 3100-3120 and 3180 are levels I will be looking for.
Hi guys,
I was trying to download the videos from the torrent unfortunately, there are no seeders. Would you be so kind to seed so that I and others can download?
Thank you
I think im personally bullish on cable and fiberā¦ Huge SMT diversion between them since the fiberās weekend gapā¦
Iāll be looking to buy into the dipsā¦
Same here, also In Traderās Trinity buy zone (Iām at work so canāt post the chart).
I have a limit sell order on the AUD/USD based on 4hr price action. Also waiting for it to retrace high enough 
Hey guys did ICT post his first trading plan video yet or have I missed it someplace? He said he would have it up in the market reveiw video. Just wandering?:33:
SanJ,
Iām with you on this thereās a nice hammer bar on the Cable daily chart which is looking like a good foundation for a swing high. Also pulling the fib from the low of todayās NY kill zone which dipped below to todayās Asian high is indicating an OTE of 1.6160. This level was highlighted by ICT last week as a level of interest as it provided a good support level until it was breached by the NFP news event but if you scroll back to 2011-10-31 this was the high of the last major swing low. Iām kind of hoping for a Judas or refection set-up into this level to form that swing high for getting on to one those extrapolated moves. Lets see what pans out tomorrow after to the LO? What ever happens Iām only taking a prime set up :41:
Hey Oatzilla
I was eyeing a similar setup for the cable tomorrow, except i was drawing my fib starting at fractal low formed just before (what would have been) LO today. That would give OTE at around 1.6130/45. I actually saw your setup but thought they possibly could push price past the 1.6150 in order to run some stops? Theres a few swing points there, and the area iāve highlighted also takes out yesterdays swing at NY open too, getting rid of anybody already holding a bullish positionā¦ But then the Judas would be a stretch from where current price is. Personally, im eyeing both areas, for me itāll be really dependent on what price does during Asian tonight and early LOā¦
Ok excuse the noob question now, as i said im fairly new to ICT work lolā¦ Can you explain, or point me in the direction of where i can find out about the āreflection patternā? Iāve seen it mentioned by a lot of his students and never really grasped what it wasā¦
Thanks :57:
SanJ,
I did look at that fractal low where you pulled your fib from but I could not ignore the 1.6160 level it was just shouting out at me. Iām about to post a chart to explain my rational; Have a look at the pin bar that pierces the 1.6160 level which sent price up this afternoon (GMT). This gives me strong indication that this level will come into play again but like you say it all depends on the Asian range and price action after the LO.
The refection pattern is explained in the Reversal Market Profile and Trading the NY Session video. If you combine these videoās with ICTās recent video Trading the Key Swing Points it really brings this concept alive.
PS: Iām a noob to ICTās work as well so donāt take what I say as gospel as I still have a long way to go maintaining consistency but itās getting little bit easier
Good luck with your trading my friend lets see what tomorrow brings us :64:
