What Every New & Or Aspiring Forex Trader... Still Wants To Know

Beginner Questions
3179

You can download the indi from my website again. For free (in case babypips moderators are paranoic again). I will not post any indis or scripts here.

3180

hope you don’t mind me posting up my charts for eur/usd - I will remove if its clutter
market flow appears down on the daily - although you could say the the 13th and 21st highs were broken - the 13th fractal did not appear to be a true high and the 21st looks to be part of the 27th high.
daily

4hr appears to be conflicting - very LOWER market flow (edited)

and 1hr seems to be a bit of an uptrend in terms of market flow as well

So how I would read it is:
daily: DOWN
4hr: slight downwards
1hr: slight upwards

So basically market flow should read DOWN, but its so weak I would say side trend is more likely…

However I was biased for a short because of this lovely graph: drawing a fib from the most recent high and low, the OTE corresponds to last weeklys’s high which was tested three times.

So in summary - market flows says - stay out - looks undecided/side trending, but I am biased in ‘wanting’ that trade to come true. Is my set up valid or am I just hoping?

3181

Golden, if ICT allows me to interject. “If the flow don’t flow, you need to stay low”. Bias is generally considered an emotion and not logic. When you look at these charts what is you first thought? You already stated it “Stay Out”, so go with your first answer.

The Ever Unemotional VIPER

3182

Highly interested in this, believe it or not more for a solid clue of what’s going on with forex than potential gains (though I doubt I’ll be believed! laughs…)

I’ll be back from errands about meeting time and hoping I won’t ‘butterfingers’ this webinar thing. Failing that… ignore any and all of my technical struggles, carry on, and I’m quite happy to pick up on it later on the week.

3183

Turned up for the webinar 40 mins early and the chat rooms already full :frowning:

3184

The 4H market flow is bearish. 1H bullish, daily bearish. This is according to your chart pictures. Please remember market flow does not change until the “fractal is broken” for example. On the 4H, in order for the market flow to be considered bullish as you have stated, price would need to break through the previous “up” arrow fractal (the fractal this is not circled in your picture). If this does not make sense please refer back to previous PTC videos.

3185

you’re right there is a very slight bearish flow in the 4hr.

3186

stupid chatroom says its full again for me, anyone have the link to the webinar?

3187

ICT will be posting it in here just before 7.

3188

Looks like the chat room is full. Would someone mind posting the webinar link here once available please? Thanks.

3189

Market Profiles & Trader’s Trinity - AnyMeeting | Free Web Conferencing, Webcast and Webinar Service

3190

ICT is in chat room. to join please click on the link and enter email.

Market Profiles & Trader’s Trinity - AnyMeeting | Free Web Conferencing, Webcast and Webinar Service

GLGT :slight_smile:

3191

Thanks for joining us tonight… good turn out and I trust you learned something. :wink:

[B]GLGT [/B]:57:

3192

learned lots thanks for taking the time for this

3193

A priceless insight, the plot thickens… :slight_smile:

3194

I wanted to make sure I am drawing no man’s land correctly. Draw a fib from the weekly high to the weekly low, mark the 50% line. Bring the bottom of the fib to the 50% line and mark that 50%. Put the fib back to the original position, then bring the top down to the original 50% line, and mark that 50% line. Is that correct? Thanks

3195

Manta,
I am glad you posted. I found your website in your profile and have downloaded the MF indicator to try it out. Thanks.

3196

Great webinar Michael!

I have two questions regarding market profile. You answered this question in the webinar but it’s not clear to me yet.

This is the market profile for the Cable for this week.

  • I do understand we are in ‘no man’s land’ while in the value area.
  • We’re supposed to look for sell opportunities when in the overbought area, and for buy opportunities in the oversold area.
  • But what do we do while in the green area where the question marks are?

799×341

What I understand is that the green area is still considered a fair value area, not as important as the yellow one, but still a non tradeable one. Am I right?

My second question is, does this way of constructing a market profile, have anything to do with the ‘traditional’ CME way?
The one with the ABCDEF structure?
I can see the relation where 70% of the price range is considered value area, but honestly I’ve never gone further away from the theory, so I’m just speculating.

Thanks for your time and effort.

All the best. :slight_smile:

3197

I came away with the impression that the ‘???’ area was also tradeable - it is just that the overbought and oversold areas have more likelihood of a reversal as the ‘elastic band’ has been stretched that bit further. I am not ICT, but just thought I would throw in my opinion while I am sat here on my hands!

3198

At the risk of being… Completely Wrong, I’d hazard a guess that the green areas on the image represent areas of ‘better’ probability than the middle, but still not very good, with the top and bottom areas being the most highly probables.

And there’s no guarantee that price will stay within the entire range even so; it’s just a better odds. As for me, being a non expert, I’d reach for the highest probabilities that I can. This week on cable I’m personally going to be a bit shy of anything between roughly 1.62 and 1.64.

And even in the proper zones it’s optimal trade entry hunting time, because I know, if it can be gotten wrong I’m likely to find that exact moment to trade… laughs