we are all waiting patiently for the video to arrive. ICT put those out there to taunt us with our “missing link”
It is sweet, isn’t it! Unfortunately for you it is an offshore bank/broker that I use in Luxembourg called Internaxx. They charge ridiculous commissions which is why I never trade with them any more, but I do still use their derivatives software for the SMT tool. I think the lesson here is that nothing is perfect, and we need to use a variety of accounts, sites etc to piece together a trading matrix that we feel comfortable with. Just for you I’ll set up a Skype hotline with SMT trading alerts if you want 
Trust me to get a headache, have an early night, and miss the LC ‘move of the month’! Nice trading RC. I think a 100% retrace might be a bit optimistic, but trail your stop and you can’t lose.
Cut your teeth on an LC trade like tonight’s before jumping into the London Close tactic, and you can’t go wrong. Cable and Fiber trades are by far the easiest to catch during this kill zone - they give you so much time to prepare and you can see them coming a mile off. Not so for the other pairs.
(That was not supposed to detract from your success tonight, RC…you bagged a great LC trade…kudos to you :35:)
Hey Ali,
I have a problem with this LC move of the month: If I had drawn the fib of low to high this day and entered in the sweetspot, I would have been stopped out because of my 30 Pips SL.
Are you just looking for the days low or significant support/resistance and enter on those at LC? Without having the confluence of the fib or do you have a wider SL than me? Or do you feel that the resistance level was touched several times in daily and became support when it finally broke through is enough with the institutional level?
I hope you’ll give me a hint 
Thanks 
greetings
Thank you. Once I looked at what the 1.63 level had done on the daily and 4 hour chart I knew the edge was there.
I’ve cleared 2/3 of the trade, the last third is still open. Aiming for 1.64 or BE on the last third.
The nice thing is that the London close starts at about 7AM my time, and that trade was entered at about 8:45
S/R trumps market flow per ICT. Looking at the higher timeframes and working my way down sold me on the trade. Price lined up in my London close kill zone, and I took it. My entry had an original stop of only 19 pips which was 10 pips below the low of the day.
One more thing that has been on my mind for us less than professional traders, is that if price will establish the high or low of the day 80% of the time in the first few hours (I say few because everyone seems to have different opinions of the actual time) of the London session, why not wait for that time to pass and set up trades later in the session? It will produce less trades, but seemingly more wins than trading in the early session. You could pretty much wrap up an entire trading day into less than 6 hours, catch the NY open, and London close and call it a day.
I have a smaller SL than you! Your entry would have been too soon.
Yes, there was an entry off the big swing, but that does not fit my LC criteria. I would have been waiting for it to retrace 20% of the daily pip value, and then come back to my ideal entry. If I had placed my SL just 10 pips under the LC low that was in place I would have been safe by a few pips. If I had gone for a 25 pip SL calculated by placing it 10 pips below the LO low of the day I would have definitely been safe.
There is plenty of confluence there if you look hard enough. Hopefully my screenshot will show that.
The pieces of the puzzle will fall into place, fxnumerouno. All of these things are detailed in ICTs first video on the LC…once you know the tools and have practice seeing the set-ups a few times, it becomes easier and easier to know what you are looking for. Keep up the hard work :5:
Deposited $2500 into my account today. Going from $2500 to $5000, 100% increase!
I traded an account triple that size last year, so this isn’t new territory, but still a little excited/nervous. I think I’ll be needing some extra accountability on this one, so expect some performance reviews at the end of the week like I was doing in March/April. If I choke/panic and lose $500 my first week, trust me you guys will be the first to hear about it! But really I’m not all that nervous haha, these tools work pretty damn good
wish me luck…
I think if there’s anyone here in the thread that can handle it (besides ICT… duh…) it would be you. I am actually doing the exact opposite. I had funded an account with $5000, but after ICT’s advice in the chatroom the other night, I am going to trim that down to $2000. I opened up an account with Oanda (really hoping they are a good broker) that I will be trading out of. The rest of the money will be sitting in my TradeStation account until I really nail all of these ICT tools.
Might buy up some high dividend paying stocks and sell OTM calls against them, fairly conservative way to pull some extra money into that account.
Ali,
I wish I could be awake for the LO, but I have a business to run during the day. I study the price action before I go to bed and will set an entry order when I’m sure I know where price will be heading. I’ve managed to catch a couple big days doing that, but I’ve also been stopped out a couple times. So far the Fiber is shaping up pretty good tonight, but we’ll have to see over the next few hours.
I have a feeling you don’t need much luck
I checked out your profile but I can’t see where you are in the world. I guess you are on the eastern side of the States or Canada. If that is true, and you can’t get up in the night to trade LO, then can you trade NYO or LC at work? I can only trade LC and sometimes NYO at the moment, but there is still more than enough opportunity right there. It just means I am in the market a little more than I would like to be.
Another installment of Ake’s “show and tell” where I try and point out some interesting junk I’m seeing on the charts. Tonight’s installment I can’t exactly say is tradeable but I hope you agree makes you scratch your head and wonder…
Look at the 8:15EST candle, which includes the flows from the futures markets opening (currencies and treasuries). It is a tiny little doji candle which signifies INDECISION. Then look at the entire NY session, that INDECISION candle represented exactly the Midpoint of the entire NY session’s range. Now if that doesn’t say indecision, I don’t know what does! It’s like that one candle coralled price action for the entire session!
Or maybe I’m just seeing things, eh guys?
Good luck Akeakamai!and appreciate your time the other day!
Not trading today being non farm payroll and big uk news,anyway was looking at USD index and thought I wonder how it looks when overlayed with GBP/USD,well its like looking in a mirror!!Don’t really know if its useful or not but going to look into…HeHe!!
Whether or not you would have taken that trade is up to you. I was just showing Alishijo the power of the 8:15 EST candle, which I mentioned beforehand seemed to be a better center for the NY open killzone. Then we learned that 8:20 EST is when treasuries and currency futures markets open and big big flows enter the market. This was just an example for Ali.
You should trade when your tools show a nice confluence of events during a kill zone, and you’re mentally prepared to accept a losing or winning outcome, how about that?
This is because the USD is the dominant driver in all USD crossed pairs. See here:
this is from the FX wiki page
and glad you found our chat helpful, but rest assured my time is next to worthless hahaha
Good luck to you Akeakamai, will be interested to see your trades - all the best!
Has anyone consistently, or more than an average amount of times, managed to determine the direction of the main LO move, based on all the tools ICT has taught us? Now we’re not using COT & OI for the bigger picture analysis of these intra-day trades, I’ve been looking on the daily TF, for S&R, and with market flow and nearer term S&R levels on the lower TFs (eg: previous day’s H/L, fib level’s of previous day’s swing, etc) and still get confused come LO, as to the directional bias. Or rather, I can add up all the probabilities, give a directional bias for the day and watch it go the other way, pretty much as often as it would if I flipped a coin…
I like this new NY open -LC period, based on the high probability H/L being made for the day in the LO, and really like your trade based on that RC24 - good work! - but as for calling the LO directional bias, can’t seem to call it.
Any thoughts???
ps: spanishjeff - the USDX is often called the anti-euro index, because the euro is the main counter currency constituent of that basket of currencies in that index. If you print off the EURUSD chart and the USDX chart and hold them up to the light over each other - you’ll really see your negative correlation then. I’ve actually done this - well sad! ha ha! GBP is in the USDX too and along with being 70% or so correlated to the EU, makes sense you’d see some -ve correlation going down.
pps: NFP - day off trading! wahay!
Hey thanks!
I’ll try to include a snapshot here and there, especially the really clear setups that I think everyone should be able to see.
and I know what you mean about the london open. I try to think of it as one session setting up the next session. So either asian session will setup London for a nice move, or London will setup New York for a nice move. If you want details on that logic, I’m at a loss, it’s just a general concept I use when trading. This is just really general, but let’s say the Longer term market flows are Down, and asia session moves price Up, and retains some significant range potential, I’d be biased to Short that asian rally in step with the longer term Down move.
Also, like I showed a few pages back with the 50% retrace on the daily Fiber, I’ll look for really strong instances of S/R and try to Key off that specific level, providing me a bias and a reaction zone to watch. Then go to work with the 15m TF tools, like pivots and Inst. levels, to get a low risk entry based on the idea from the higher up TFs.
and lastly, in an attempt to really get at the mindset of London open, think of the trading day. London comes on, and assuming Asia didn’t go crazy, they can pretty much push the market around a bit due to their sheer volume (the majority of FX spot volumes originate from Europe/UK banks). They basically have first crack at putting a dent into the potential range of the day. Think of ICTs video where he mentioned that each trading day has a “battery life”. Well London gets to trade with a full battery, usually, and so the potential for reward is higher. Of course like you noted, the risk is higher because a bias hasn’t really been established yet.
Higher reward for higher risk, that’s probably one of the few golden rules there is in these markets