Thanks mate I’ll read over the two links properly later. As for daily pivot indi, I don’t have it unfortunately!
Apologies for the late reply, must have overlooked this. Just search MT4 Daily pivot indi in google and you’ll find plenty, they all pretty much do the same thing
Been quiet here for a while - meaning no trading has happened over the last week or so until yesterday really. Been a little busy in general - moved back up to University this week and hence been a little occupied. Been trying to keep an eye on the markets still and yesterday saw the first setup i really liked in over a week or so - turned out to be a winner.
Cable Long 1.6178:
- Daily Market flow and Market structure still very much bullish
- Nested OTE area
- Oversold stochastic across the 1H and 4H and ICT Grail setup on the 1H
- Key levels
- Pivot Buy Zone
- Time of day
- Below Asian range high
Cable 1H OTE + Stochastic Divergence
Blue highlighted zones were my watch zones
5m Entry - the black area inside the wider OTE Blue area
I was initially stalking an entry in the fiber, but i chose the cable as the market structure on the shorter time frame seemed better, and it lined up with what i was watching in the USDx for my trade:
Note the Pink sloping line which i have used to illustrate the market making higher lows and lower lows - a bearish trend on the lower time frame.
In an area i expect a bounce, i wait for shorter market structure to be broken which can be seen with the short term high taken out - represented by the horizontal pink line. This is the first break in market structure in an anticipated area. After this point i hunted an entry - and actually took me two attempts. I took one entry in LO at 6175, which i moved to break even but didnt manage to grab first profit, and that stopped me back out at break even. I took my second entry during the NY kill zone at 6178 and we have since traded up nearing 100 pips.
I took 50% off at 30 pips, and another 25% off at 100 pips. Im not quite sure where we will go from here as i know that 1.63 level has been waiting to be gunned out for quite a while. If i dont like the looks of things by the 3pm profit taking hour today ill close up my position completely, otherwise ill be tempted to hold and trail my stop over the weekend. As i said, not really sure where price is headed at the moment, but feel its taken out a significant high at the moment…
As always - time will tell!
:57:
Nice trade Sanj. I am liking your style of trading nice and neat. Your keeping it simple and in sync with higher timeframes. Very well done
Just a quick update… Closed out the final portion of the trade, we are in a very mature price swing higher and really didnt know how much leg room it has - in hindesight the 1.63 figure was a nice final target, wanted to see if NYO will give it another leg higher but didnt play out… My initial thoughts were to close just shy of the 1.63 fig but i guess i got greedy. Ah will, live and learn! This was running on 1% risk due to my previous loss, so next trade im able to back to 2%
Closed out the final position before the weekend - which may have been a mistake as i had nothing to lose, but figured id bank what was on the table anyway…
Results so far - in my live account
1 Loss: -1.55%
1 Win: +2.25%
Net Profit: +0.66%
:57:
Love the green numbers man
I found a pivot indi which does the job. As for the above quote, it kinda confused me lol. I understand if price retraces back down to the Asian session high/low of the day or even yesterday that could add confluence to other things. Is that what you meant by top of the asian range and below? I’ll have to find ICT’s video on this matter.
Hope you don’t mind all the questions!
Nice trade SandJ. Keep em coming ! i love your thought process.Learning more and more every day
… Again apologies for the late reply!
Ok so when we speak about the Asian Range (AR), ICT measures this area of time and movement of pips from the times of 12am - 5am GMT…
Once we have this area marked on our chart we can start to break this into a range. The basic idea here is to couple the idea of Asian Ranges with your directional premise for the day. If you are looking to go long that day, you want to only buy when price is at or below the high of the AR. Inversely, if you are looking to go short, you only want to enter when price is at or above the AR low. I threw up a small picture from this week to help demonstrate:
I hope the above picture is clear or enough. So the Blue highlighted areas represent the AR which i have dragged and extended out during the day. Depending on your directional bias for the day, when price is inside that area it could be a valid buy or sell. On the outside of the marked AR (the orange zones) is where you start to get the extremes. So again, looking for a sell you want the AR low or above as a marker - in this case the blue area or the above this (the upper orange zone), and again inversely looking for a buy you will use the AR high and lower - so this again covers the blue area and the lower orange area - below the asian range low…
Hope this has helped :57:
Nice thread SanJ, and great analysis as always! I also trade the HTFs and I’ll be sure to follow this thread and post my $0.02
Right, again apologies ive been quiet this week - have been trading but just been slacking away from the forums.
I am back at uni and just finishing up freshers week - for anybody who has been to uni will know what freshers week is like lol
Tbh, kind of glad spending less time here as i want to see what i can do with the tools ive already learnt and do things entirely on my own. One of the other main reasons i started this thread away from ICT’s main thread is to stop myself being influenced by others thoughts and analysis, and hence created my own space to share my ideas and analysis…
I did take two trades this week - not going to highlight them as usual we are bordering a new week - but for anybody who was following along saw it was one win, one loss - myfxbook seems to count when i take partial profits as a separate trade hence the high number.
This week ive kept my risk reduced to 1% - even though i was able to go back up to 2% - but there was a specific reason. As ive discussed the possibility of a possible change to a bearish tide for some time now, ive been looking for some confirmation. Last week’s cable weekly chart presented a very nice spinning top candlestick in an anticipated area:
That alone made me quite weary about how much further up we could trade, and consequently we saw this week trade lower with Friday giving a nice range expansion day downwards.
Overall, going into the new week, my bias remains bullish as we haven’t really in my eyes confirmed we could be taking on a new trend.
Fiber
1.2750
Cable
1.5958
Those to me are the most significant swing lows on the daily chart - a break in those levels in each of the pairs will indicate to me that we have a significant break in market structure on the higher time frame and then and only then will my overall bias change to the down side.
Ive plotted something out on a fresh chart - kind of a little prediction which i would like to see play out. Ill update every week with the same picture and see how the candle sticks match up to what ive drawn. I do like the looks of the Fiber more than the cable currently for one which is setting up to go bearish:
The two blue areas highlight OTE areas where we could expect a bounce in price. The pink line delineates that swing low at 2750. My prediction would be that price trades down and breaks market structure, at that point we bounce higher as a longer term Judas swing which sets up the OTE short for a new trend in line with the new bearish market structure…
Im looking forward to the coming weeks - as ive said, my system i think will really shine when we have new trend that i can catch from the start. I realize the progress has not been amazing so far, but i know my way of trading can bring in huge returns of 10%+ ROI return on a single trade once we get movements i like. I hope i get to demonstrate this soon
As we stand:
2 Losses: -2.82%
2 Wins: +2.86%
Net Profit: +0.04%
:57:
Just a quick update for the week, no trading at all done on my part last week.
As shown in my last post, wasnt really sure where price was heading and was really looking for some confirmation to see a headed direction… One main thing i highlighted in my previous posts was the the significant swing lows on the daily chart - and that a break of those (which tbh i thought we would see last week) would now indicate things are now bearish. This failed to happen, and more importantly what did happen is that price had a reaction to the daily OTE area from the swing low to the highs that price made:
Fiber
Fiber really pushed down against that 90 fib level but was rejected and pushed away…
Cable
Cable landed a perfect OTE to grab some pips…
I saw both opportunities during the week but passed them both up as i wasnt really clear on the direction. I actually don’t feel bothered about missing the opportunities this week - i feel its a good sign as my patience and trust in my system is getting better.
I may have mentioned before, i dont strictly use trendlines in my trading, but i like to use them to demonstrate a bullish or bearish scenario and helps me to paint a picture of market structure. This weeks Fiber play on the daily was almost picture perfect:
The rejection and increase in price at those daily OTE’s are quite significant to me and say that we are still bullish for the mean time. The movement back down in price i am perceiving as a retracement after its aggressive bullish push.
That means ill be back on the hunt this week for buys only, and looking to at least target the previous months highs made in the Cable and Fiber…
As we stand, ill be looking for a move back down from the previous weeks high to low for an entry to get long…
What really stands out for me this week is a possible play in the Fiber - a long entry around the 1.288:
A very nice nested OTE of the weekly high to low within the OTE on the daily…
Anyway, see what the week has to bring…
Apologies to anybody falling asleep to the speed of my progress :p, I hope i get to shine soon!
:57:
This paragraph Sir should be framed and hung on your wall in case you ever doubt yourself in the future.
Continued from my last post about my possible entry on the Fiber…
Was on the hunt from this morning, but nothing played out as a like yet, think we could have something play out tomorrow…
Threw this up on a cleaner chart as my charts are a little busy - may not be as easy to understand:
Fiber has been playing with that nested OTE area on the HTF which i pointed out in my last post. The play im looking at would be a possible judas stop run tomorrow to take out the pocket of stops at the 1.288 then an OTE long…
Was watching the action at LC… The area highlighted was triggered but im staying out for the moment, not interested in trying to get in the way of this run away train - especially since im not already riding it…
All bets are off if Cable breaks its significant swing low on the daily:
Ill be back hunting at LO tomorrow…
:57:
Havent got much time to post at the moment…
But i took the the trade ive been posting about all week here yesterday at LO…
Got long Fiber at 1.2857, 1% risk and closed half my position at 30 pips and left the rest to ride at break even. Unfortunately, late NY move down came down and took the remainder of my position out at break even only for LO today to provide a similar setup with a really nice OTE at the weekly S1 level… Naturally - i missed it!
The move up we seem to be getting today was really what i was hoping for yesterday… Anyway, not going to chase it. Just unfortunate to miss the setup like this especially when i have to wait as long as i do for my setups to play out lol!
Ill take the small +0.61% gain now and probably be done for the week as a NY setup doesnt look as if itll fit my entry criteria - but will likely still go my way…
Really am building this slow and steady i guess…
Will post the trade setup later
:57:
Just as a note to self, as ICT says…
If they are going to come back for the stops, they will make it worth it!
Entry on Fiber yesterday:
USDx - Cleaning out all the people on the right side of the move:
:57:
Good progress SanJ, I too missed the long this morning by 6 pips (long @ 1.2840). Didnt get enough of a retracement during LO from the large asian range low -> high.
You’ve got some nice consistency going on
SandJ great trade mate. Congrats! shame nyo took you out. One thing i noticed that you mentioned that they are hunting for stops and they swept the stops below 1.2835 does that mean in your opinion the market is poised to go higher? If so what makes you think that? The reason i ask when ever i open sharts i keep on pulling fibs from every swing point there is with no real idea weather market is going to go up or down? Direction bias i guess is a little iffy would you have any tips and tricks for me?
Many thanks
Thought you might still be a bit preoccupied with freshers month Sanj! Are you sure you were fully concentrating on the forex
That Thursday dropdown was a dirty move, it almost seems like the SM pulled out a turtle soup within a turtle soup. Their cards will be marked the next time Sanj comes-a-calling though…