There is no doubting we understand the reasoning…it is just a case of seeing the right confluences before the fact! How about you take a bunch of confluences, I take a bunch, Clark takes some more, Wally some more etc etc…and we create a mega-brain that can see all the possibilities before they happen! All I can say right now is that the CPU inside ICT’s head must be pretty awesome
P.S. See how the USD Index is wedged in? A firm base at 73.50 and a declining trendline from July 12th. Is Fiber going to break down and follow Cable’s move yesterday, in which case we break out of the wedge and could see a big move down, or is Cable going to pull back up in line with its own upward bias? A difficult one to judge.
I’m all in for the mega-brain idea, but until that ball gets rollin, maybe we should try going back to basics…
like basic pen and paper (or pencil if you prefer!!)
I know ICT has told me he writes down significant levels to watch, maybe that’s all there is to it? Do a lil ‘homework’ and have everything in front of you, minus the actual price action. Then it’s basically waiting for the price to get to your areas and then wait for your OTE trigger to get you in, if it does. Then manage away!
Man I’m starting to sound like those folks at alternative technical templates haha, lovin it tho
I actually never started trading the others pairs, only the GBPUSD and EURUSD. Two pairs was enough for me to handle at that time to observe but I still believe it would be possible to trade all pairs. Currently I am working on managing overtrading and it is hard for me as is with 2 pairs.
It is possible to trade all the pairs with 65% accuracy based on simple OTE at ADR with a confluence of pivots, numbers, and H4 resistance/support. It is my belief that to bump up that accuracy you need to do a lot of mitigation on initial losers and enter with Fib extensions and occasionally MACD divergence. Care to share what you know Zneve, regardless of whether you trade them or not? I am not sure ICT is releasing his ‘official’ LC strategy anymore - he said we would have all the information by Sept 1st and so it seems the Asia strategy is the last piece of the puzzle.
NOOOOOO!!!
I need the LO and the other 3 Market Structure pics, please, pretty please with cherry on top.
I’ve been sitting on my hands studying (mainly because as Simon pointed out holiday mode for a lot of traders = MM shenanigans) and I’ve got to say this Traders Trinity has me picking my jaw up off the ground a hell of alot. Ive even been mucking around with a daily TT and going WTF! all the time, if you look at it through the rubber band scenario and watching for the high/low in the first 4 hours from NY midnight you’ll see what I mean. Also seeing Monthy pivot having a strong magnetic effect if the Monthly fair value fails. This is mind blowing stuff, I don’t know how to trade it but I’m seeing it or maybe I’m seeing things.
BTW fiber has put in a daily ITH so I’m looking for ITL, cable I’m clueless. CoT is a bit mixed on the 2, bullish Fiber, bearish Cable but only slightly on both, maybe they’re as confussed as the rest of us. Also been studying EUR/GPB and trying to incorporate with SMT to find the best of the pairs to trade also interesting.
Getting lots of headaches maybe I need one of those ICT CPU brain upgrades. Look lets face it he’s the Eddy Van Halen of trading.
I hear ya Wally, I’d love a full LO review, it’s by far my worst session, I don’t really have a edge historically.
LC is my best sesh, NYO is a work in progress but I’m happy with how it’s going but I’m seriously considering dropping LO. Even looking at the “Buy Day” template we don’t get much of a bias until LO is over. I’m max 1% in LO and am available to trade that session, so want to but as it stands I’d have a better win ratio if I dropped it.
Anyone got any advices regarding LO, please share.
Edit: Like are folks who trade LO successfully scalping intra session or holding positions until NYO or even LC before reaching targets?
Well London Close was a real let down for me tonight! Daily chart - end of April high to July low 50% retrace at 1.6262. August low to August high OTE sweetspot at exactly the same figure. Plenty of resistance turned support, and support as support on the Daily. Monthly pivot point at 1.6266 which is also MR1 from July and MS1 from June (Does ICT’s pivot macro look right to everyone? I plot the pivots using the calculator and they are vastly different! I’ve had success with plotting weekly and monthly this way, so I’ll stick with what I know, but interested to hear if people are having success with pivot macro). Weekly S1 not too far away at 1.6279, and Daily MS2 coming in around 1.6270. Missed entry by 4 pips but very few fireworks to speak of anyway…at least not yet and it is 5:30pm in London.
Finally i’ve managed to find where you can add aditional fibonacci lines in MT4. So i’ve added the important 78.6 level which is referred as an Optimal Trade Entry.
So this was the first trade i took today by entering when price hit the OTE level, i went long and set TP at todays R1. And the SL at what i believed was a strong support line.
Price went in a favorable direction but almost 10 pips away from my TP it reversed, perhaps my TP should of been set at this high instead of the one depicted in my first picture;
Can someone remind me what September has to do with anything? And TT is referring to that the Cable has reached an extreme low? (0% level)
Took the OTE short on Fiber last night during LO, the swing was measured from previous day’s high to Asia’s low, also lined up with the R1 level, which made it in the sell zone as well. I remembered from market profiles that the large bullish movement in the beginning could have been a stop hunt, so I sent a pending sell limit at 1.44607. Wasn’t looking for much last night as I have already made my weekly goal, so I got out at ~60 pips at the 1.4400 psychological level to bank my profits.
Edit: And I chose Fiber simply because its market flow was more bearish compared to the Cable which was bullish on all 3 timeframes. There was slight SMT divergence on the 5min as well (I think, still practisinig). And here’s a screenshot:
I woke up half way through LC, so no trading this morning. Good week though, reached my goals again, I can enjoy my early weekend now.
Thanks ever so much for posting this, Mike! It explains why the ADR indicator I wrote myself - which calculates the simple average range from the last 5 days - never coincided with ICT’s.
You traded the retrace to the OTE of the short move today? There was a bounce of R1 in LO, setting up todays high. We expect that price makes the hi or lo of the day in the first few hours of london. It failed to trade higher yesterday, giving me a bearish bias for today. Unfortunately I wasn’t at home to trade LO or NYO ;<
No London Close trade for me today again - none this week till yet. EU bounced right after fulfilling it’s ADR, but I couldn’t get a entry off :S Two days left for a possibility
We had 2 days with a longer range on Cable, so I’d expect a lower volatility to come, but we traded down today to an OTE confluencing with a trendline on the 4h chart, S2 and TradersTrinity BuyZone. Maybe we could see a long setup etablishing now or already have seen it forming in LC.
For Clark: Following Seasonal Tendency Cable will trade lower into September and forming the best buy oppurtunity of the year in mid September.
Same with me - the monthly pivots are way off,and the weeklies just don’t show. I don’t know if this is something to do with the fx broker…mine is Alpari UK.
Like you I plot them manually and am happy with the results.
Yes i did :)… Obviously i made a loss though… When looking at seting a TP what should you exactly look at, is it the recent high? Also, in what of the videos is the ADR explained in ?
That looked pretty reasonable. Did you have a bias for cable for the day? I was looking for shorts with cable today based on 4 hr and 1 hr market flow but missed the big move. It seems like the dollar has firmed up a tad over the last couple days.
edit:
Looking at your trade again, it looks like you went long on the ‘second chance’ ote, but, since the last fractal made a lower high, that’s a clue that price might not make it beyond that.
Good take profit levels are +20-30 pips, then just short of the 100, 127, and 168 fibs (after drawing the fib backwards), or just short of recent fractals, taking into account important s/r, of course. (sorry if you already knew all that. :)) In case you expect a long-term move, you can trail the stop just below the fractals that form after your entry. (ICT told me that in a previous post and it works good.)
It’s worth noting that taking profit is always going to be one of the most difficult trading skills because it’s the most discretionary.
For live trades I personally like to wait for a small range day (~50% of ADR) and then trade the expansion on the next day, where it’s very likely that it will hit ADR. If I look for recent Highs or any other important targets I like to set TP 10 pips above/below this level.
I have to say we’ve been doin pretty well
