Sorry I haven’t been very active in the forums the past couple days, work and life have both been keeping me busy!
Checking over the charts right now and looking at GU it looks like we have been bouncing off pretty strong support since the NY open. Moving out to the hourly chart, notice how price has reacted to the 1.6360 level. Market flow on the 1H chart is down, but I may be looking for a turtle soup style trade should price break below the 1.6357 level in one of my kill zones. I’ll be looking for it to go to 1.635, if it can make it to that level I’ll enter long at 1.6357. Profit target will be 1.64 which is just under previous S/R on the hourly.
Also, another dreaded question on the kill zones. Reading through the thread, it seems like nobody is really on the same exact page as to where their kill zones are. I may have passed it up, but does anyone know what times ICT uses for his kill zones? EST times would be preferred as I’ve set my computer up on EST and don’t want to be off due to daylight savings or any other accidental error.
For ICT: I am quite willing to wait for the London Close Tactic to come online, but if possible, could you please tell us how to get the DXY as a separate chart or overlay on MT4? I would also like to be able to see longer term charts of DXY in MT4…failing this, maybe someone could point me to an online chart that can be viewed for 10 year periods and can be analyzed with crosshairs, S&R lines etc.
I would change LO to 2am-4am EST. The “wide” version of the LO is 1am-5am. I try to think of the kill zones as a gradient, with the better quality setups occuring closest to the session open/close. That’s just a personal interpretation though
Ali, I remembered your question about my Range Projection just now. It might be hard to give you any hard data about it, I don’t really use it that way. It’s just for a general bias of whether ranges are contracting or expanding.
Here’s one example I see, here’s 5 days worth of ranges on the GBP:
134,129,62,123,X
Now what would you expect from day X?
Personally I would be looking for some range expansion, that is 4 days in a row with relatively dull ranges. Obviously I’m tying this analysis in with price action, so it has to make sense using a bunch of different tools, especially the Daily chart. Daily chart and Range analysis go hand-in-hand.
oh yeah, Day X = 180pips
I’ve seen a pattern of very small range day, followed by an average range day, then a large range day. Defining small as <120, average as 120-150, large as 150+
Is this 100% reliable? Hell no, but it feels like it’s helping me out, and I think it ties in with ICT’s range contraction/expansion concepts. But even getting a slight tip off that a 150+ day is coming, can really help you put your money in the market when it’s likely to hit a ‘home-run’.
A 150-200 pip day can be a real game-changer when looking at net monthly gains.
Is that what you were looking for Ali? Give me another year, I might be able to interpret my ideas better lol
That’s really cool, Ake! This works far better for me than a list of numbers, or even just looking at the Daily chart. What in effect you have done is strip all of the candlesticks of their bodies, and knocked them on their heads so that they all come down to a base line.
I think I would be looking for days that are at or above 175 pips in value. You can see for the last 15 entries we have consistently had 3 days between these larger candles. Prior to that we had a number of larger range days. Prior to that we were consistently looking at 3-5 days between the 175+ pip candles. It is therefore my belief that ICT was considering large range/small range days when he asked us to scout ONLY 1 weekly set-up. Like you say, we can’t rely on these figures alone because nobody knows exactly when the pattern might change, but along with the other pieces of the puzzle, it definitely adds an angle that increases our chances of picking the right time to trade.
Good call yesterday man, did u catch the lightning ride??? Despite EU being in multiple higher TF OTE’s and the 2 bar reversal all saying - SHORT! - went long in the LO and got “struck by the lightning.” Hindsight’s 20/20 isnt it. Hope you got some pips.
Bad luck Auto!!!Hang in there an keep learning.
Came out with 9 positive for the day,tried too hard for more!!anyway its in the black an not the red,looking for a long today,been stopped out so far with news I would say currently -30 pips waiting for OTE on cable as 2nd trade for day if not early finish and look forward to monday!!Not traded EUR/GBP Auto as not watched price action enough to be comfortable with it.
Well chin up an good luck old chap!!
Good stuff Ali and AK. There’s a guy on FF who says he’ll write indicators for free, I wonder… I think these figures would lend themselves to an indicator using AKs figures with red for short range days, amber for average and green for wide range days.
To see this over a long period on the chart might offer up further insights, I’ll go see if I can find him. If I’m not back in two days send a search party
I can code. Bit busy, but could do it on the backburner if you specified exactly what it is you’re looking for…???
More than happy to put something back “into the pot”.
cheers.
ps: spotted this Head and shoulders on the EU (too late to avoid getting stung by it’s completion short yesterday - Doh!) but using the usual H&S T/P, of the distance from head to neck, we’ve just fulfilled the profit target and so could reeeeasonably expect a move up now??? Also, higher TF 50% fib & EST R1 confluence. thats exactly what i’m talkin about… High prob baaaaby…
As always - NEWBIE ALERT: this observation may damage your wealth.
To tell the truth I can’t see any obvious setups on the fiber or cable,
The cables price action seems to have changed over the last few days, or is it just my imagination?
Auto you dark horse with your coding, I get a warm glow of pride when I successfully import an indicator :19:
I don’t know much about coding but I was thinking of something that could change the colour of the body of a candle depending on the range. We can refer to the big guns for the best numbers but something like Aks suggestion and use red for sub 120 day candles, amber for 120-150 days and green for over 150, maybe another option in there (purple for 225+)?. We’d only need it on the daily TF and I think it could be used as part of our morning top down analysis.
What do others think before, Auto unleashes the back burning midnight oil (that sentence should confuse our “English as a second language” friends :20:)?
Haha! You know I won’t lie down until I’ve analyzed it to death! In that regard I was wondering if you could do me a massive favour? I was following along with you when you first started the spreadsheet back in March, but I then got side-tracked with London Close during April and stopped updating my figures. I can go back and input them day by day through April, but if you were kind enough to throw me a screenshot of April/start of May figures then I would be most appreciative.
The colour codes would obviously have to be different ranges for Cable and Fiber. I don’t have all of the data that Ake has at present so I can’t really comment on appropriate ranges. It seems like a good idea if you could place it at the bottom of the screen in a separate indicator window. The bars could be set up just as Ake had them in his screenshot.
Phewf, for a second here, I thought it was your accountability check and that was how many pips you made everyday!
WOW, if anyone can pull that off.
Haha, I kind of disappeared yet again for a couple weeks. Caught a horrible bug, still coughing my lungs out, but school is done! Yesterday was my last day! Now I can trade full-time! Time to get myself caught up in the thread again…
