I’m back at home for at least this week and have the oppurtinity to trade the LC session As I said I’m going to add my setups to contribute something to the thread. This is my first day of trading since more than a month, hopefully I didn’t forget everything hehe.
Normally I would look for 20 pips and 40 pips or 23.6 and 38.2 retracement of daily range to take my profits, but today I’m holding the trade till it reaches the OTE for the incoming longer term trend. The reason why I think that it will move furhter down is the clear bounce of the resistance and the seasonal tendency. I hope I did unterstand everything right hehe. I think that the level I marked is a good target to raid the trend follower’s stops as they saw Cable dropping and wanted to get in at NYO Session. I already took 50% off so the trade already made profit and there’s no risk for me to look further and see if my target gets filled.
Any thoughts/critism for this LC trade is very welcome I’m not quite sure if LC is able to initate such a swing to an OTE that I mentioned or if I should scalp it all the time. It would have been already closed if I followed my 20/40 pips target, netting about 2%.
hey guys can anyone help me out with something that was in the webinar last night??? i was very interested in listening to the “how to become a better stock trader in two minutes or less” part (near the end of the webinar i assume) but as soon as ICT explained to “overlap the dow, nasdaq comp…” and my internet cut out!!! =( can anyone type out what excatly he said to do !!! i randomly watch the stock market too and would love to be able to know what i SHOULD be watching for lol , thanks in advance fellas!
I can say a quick/slightly accurate version. He said plot thoes 3 on a chart and use the “smt technique” watch for 2 of them to make lower lows while one does not. Then look into the one that isn’t and find a sector??? then find an individual stock??..
SmartMoneyTool stuff is coming before Sept is what Micheal said but basicaly it’s 2 correlated pairs and looking for a divergance between them to show if one is being accumulated or distributed.
The stock thing is more like the Bonds divergance stuff that ICT has already shown in the core concepts videos, except this time looking at sector charts overlayed and then drilling down the the individual stocks in that sector. I’ll have to look into this it seems like a good idea and try and get my old-man who is a buy and hold type bloke to try this.
and also while we are on the subject, is this a good example of the “smart money” quick rejection near the top of a range that we all talked about in the webinar, and a good indication that price was about to drop on the 15min timeframe ?
I bought Eur/USD at 1.4165 smt hour diverge at pivot in buy zone.Price went down to previus day low and bounced like chat last night. If I can just know this on my own without being told by the man thats what I am waiting for. haha I have 14280 limit to get out
Don’t know but it wiped my profits when I thought the EU short I was in was going to go all the way to ADR Low.
I figured the directional bias correctly (initially) but I guess you need the higher TF analysis telling you that there’s a high prob of a large trend day today, else guard your profits carefully and don’t expect price to keep heading down all day.
Not to clutter ICT’s fantastic thread with any (heretical) indicators, but something I learnt from one of his recommendations, Chris Lori, was to look for MACD divergence at (re)tests of significant levels. Remembering this today would of told me to close my short trade before price moved back up and cleaned me out.
Is the chart of those poll stats going parabolic? :35:
Also, I have a link to my video of the 7/31 webinar. Was hoping someone would have already posted one because mine has several (very minor) distractions.
I ‘assumed’ it would be OK to post that here, let me know if otherwise!
Thank you so much for the stupendous work you do here!!!
Hey there guys,
I think im starting to maybe get the idea of how this all works and i have some pics i would love for your comments on.
On the GBP/USD i have determined that market flow is down on the 4h and daily giving me a short bias.
and if price trades up past the central pivot this would also be in the sell zone.
As I said I’m going to add my setups to contribute something to the thread. This is my first day of trading since more than a month, hopefully I didn’t forget everything hehe.
I’m not quite sure if LC is able to initate such a swing to an OTE that I mentioned or if I should scalp it all the time. It would have been already closed if I followed my 20/40 pips target, netting about 2%.
