Is anyone else having problems inserting a negative number into the PivotDailyMacro’s ‘Shift Hours’ value? I can’t for the life of me get a negative value in there… maybe i’m just retarded. Can anyone shed some light on that?
Thanks in advance, because this is driving me a little crazy.
Matty,
As far as I know you can’t change the times on the software, nor the number of decimals. At least not with MT4. This is broker dependent. I guess your only solution would be to get another demo account.
Someone correct me if I’m wrong.
I don’t get the solid line either, and tried unsuccessfully to change it. I’m not worried about that though.
I’m also having some problems setting all my tools up, but it’s slowly coming along.
Best of luck
Did anyone else catch the dollar tanking this morning 0900 NY time? I was so lucky, took an OTE going long on fiber at 1.3776 at 0855 NY. 1.3776 was just above yesterday’s high and the base of the fib was at MR1. Probably it was a bad trade because we weren’t in the buy zone, but I took it anyway because the london session was so ‘euro up’ and ‘dollar down’ across the board. What do you guys think about that setup? Not really sure if that was a good setup even with the really strong short-term market flow? I know this has nothing to do with the quality of the trade but both my targets got hit within two minutes! Lol, every trade should go like that. 
I saw it too late, but I would have taken it. It looked like a good set up on several levels, but hey… I’m a total newbie.
Regarding the ‘dotted line’ instead of the solid line on PivotDailyMacro, I too was noticing this a while ago. I realized, that by zooming out of the chart far enough, the dotted line becomes a solid line 
If I’m not mistaken, the reason you see the solid lines in his chart with the PivotDailyMacro is because he has zoomed out of his chart. As you zoom in, the solid line becomes a dotted line, since it’s focused on a smaller piece of the time frame thereby going into more detail. Hope that helps.
opened at 9:15 Londontime and closed 18:00 Londontime, catching 109 pips today with a risk of 28 pips. ;> 7.8% gain today, nice one!
Reasons: There was no pressure after reaching the support at all. A dailydoji was formed on it and price has been terribly oversold for days. Strong SMT divergence as EU was failing to maker lower lows constantly. Traded up through CPP and hammered on the 62 fibretracement on 15m chart. 1h fibprojection 162 perfectly hitten at 1800 - perfect line up of my targets. Overall I’m very happy with this trade
I think I’ll be looking for more bullish action now. Let’s see what price does.
greetings
nice one, and you called the long a day prior, excellent work. I saw this as well but missed entering. I’m posting a chart of what I noted hoping it will help others to visualize, but it looks like your entry was around the entry marked in my chart. I’m located in ET time zone (USA), hence referencing 3:15AM as LO KZ…
That’s exactly what I was looking at in LO 
As this was just an entry on a higher timeframe’s OTE I used the original entry to find my target for today. Amazing how price reacted at those level, hm? 
Be aware that this upmoves could easily be just short term swings to gather power to trade down further. If you look at EU 4h chart you can see that it reversed very ranged and in a strange way in my oppinion. Put in the fractals and the fib from the last fractal high and we find ourselves in an OTE for another short. It stopped to trade higher very close to equilibrium level, no higher demand. I know that ICT himself doesn’t use an indicator very often, but I think that %R put in some valuable results for me and it’s showing overbought now.
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fxnumerouno, I was wondering if you could post your indicators you show in your screenshot. I’m interested in the red zig zag line. It looks like it makes it easier to follow price. Also it looks like you have an indicator that automatically displays the Traders Trinity on the chart. If that is in fact what it is that would be nice to have.
Much Appreciated
Hello everyone. Time for another question from Pajo
This time it is ‘Market Structure’ that I am uncertain about. By this, I mean the establishment of short-, intermediate-, and long-term swing highs and lows. My general question about this is ‘why’? After we have backtracked and spotted the various types of swing high and low, what have we learnt, and what do we do with the information? I don’t think ICT ever really explained this.
I’ve been looking at this aspect of analysis for a while and I notice that, even at the best of times, a long-term swing will be at least four swing lows or swing highs back in time - often it is much further back. The opposing long-term swing (high for low, or low for high) is often much further back than that. So, if any of you are using this information, would you mind telling us how it affects your trading?
Cheers, Pajo.
It was a good setup - backside of the PDH + MR1 + 68% of recent swing + NYO + [B]the days Low had been put in[/B].
I know because I took the same trade with TP 60pips and SL 20pips, it came back -10pips against me and I was thinking I might bale on it when suddenly it shot up, startled me and because of slipage gave me 69pips.
The whole trade took about 2 minutes from go to woe and I walked away thinking what a bloody genius I am at this trading stuff. lol .
But it was an unexpected over reaction to some minorish news and was mostly to the fibers benefit, which has me thinking…
Wally
P.S. I’ve highlight the bit about waiting for the high or low to form because it’s giving me a more consistant results than trying for LO so I’ve swapped the occaional 120pips for waiting a couple hours and getting 60pips regularly.
Anticipation is the name of the game here.
So you see a small swing low then the next swing is lower than the first, now you say to yourself “If price goes below this last swing then the trend is going lower but if it faulters before and moves up we might have an intermediate Low just formed on that second swing”, now how would that relate to any market structure already in place, is there a ITL already and is this latest one Lower than it meaning you should expect the next ITL to be higher thus forming a Long Term Low and then switching your outlook to finding LTH to now start forming and trading in that direction.
There’s no guarantee that LTL’s or LTH’s will always form or that they won’t get taking out but they are good for making sence out of chaos and giving a good bias to trade with.
Wally
While I was fiddling about with a visual explanation, Wally beat me to it! Like he said, it is all about anticipation, and specifically anticipation at key support and resistance levels. Michael did not labor the point like he has other points, but it is there in the videos and in the thread.
Regards
Ali
MCAWally and Alishijo,
Thank you, gentlemen. I think I see the approach you’re taking. I’d like to refer to the second chart that Alishijo posted.
On the left there is a prolonged descending run of swing lows. At the second, third, fourth, etc, my thoughts should be ‘is this an ITL forming?’, right? At each subsequent swing low, that would be disproved, but I should just keep asking the question again, one step down, until finally no more STLs form below the last. Then it is a case of waiting for the conjunction of signals to support a potential long position:
COT, OTE, LO
So, for LTLs, should I apply the same anticipatory thinking in expectation of longer-term trades (multi-day, for example)? I presume a LTL would need at least two swing lows to the right, the latest higher than the other, to give adequate support to a major turnaround in price?
Thanks again, Pajo.
You will be waiting a long time between signals if you use COT as a confluence every time. It came into play this time, but it is a rare piece in the puzzle.
Would you be asking the Market Structure question at each and every fractal? Well that all depends on you higher time frame analysis, and how price reacts at key support and resistance levels. I don’t believe it would have been necessary to ask the question on any of those fractals because a) they weren’t at solid support on the Daily b) even if they were the reaction bounce was very weak on all of them (price movement short was too strong). One point that ICT did labor - don’t stand in the way of a freight train!
A LTL would need an ITL which has two STLs on either side of it. However, when I analyzed this on Daily chart I didn’t find the LTL structure to be as effective as the STL, ITL relationship. So yes, anticipate the formation, and wait for a confluence of signals.
You can also trade in the anticipated direction of each leg, entering on confluencing factors on the lower time frames et al ICT teachings. This is what I mean by my preface of market structure over market flow sometimes and when it works out that you anticipated correctly, you get a nice warm smug glow and when it doesn’t work the market is run by clueless clowns that shouldn’t have a drivers licence let alone be in charge of a banks trading account (i’m always right, it’s just the other idiots that don’t tow the party line that ruined my trades).
Wally
yeah, I agree, I just wanted to point out one thing, that trading is not about predicting what the markets are going to do. It is simply probability game and the key is how to manage your risk and keep it as low as possible. This was one of many milestones in my experience in this business (I started with FX in 2007 and went through all these crisis and high volatility periods, pretty tough I have to say…and pretty expensive…).
It is interesting if you read the posts at the beginning of this thread and then jump here. The same people, but I see great development and improvement towards consistent results.
Lol, I have to smile…6-7 months ago I was crying that I have terrible period for about 1 or 2 months and cannot make a buck, although previous year was so smooth. This week I made more than 2000 pips at 4 pairs with leverage 1% per 100 pips and everything looks so clear again…
When I was in Dharamsala,India 4 or 5 years ago, somebody gave me in one dirty pub some paper with Buddhist proverb from Dalai Lama, it was very simple: “Never Give Up”. Pretty smart proverb, I guess.
I need a little help in how to download the pivot tools into my mt4 account. I was able to download file but could not find a program with which to open it. Mahalo
God bless google I found out how to do it
Hey guys,
I was just reviewing the GU today and was wondering if my analysis of a potential long was correct/valid. Be nice, this is my first try :8:
- I was seeing a bunch of S/R points around 1.5775 from the last four days (rectangles)
- 1h and 4hr market flow was trending up (not positive on the 4 hr actually)
- confluence of 61.8 fib line from daily low to high (at that point in time) with previous S/R
- I also noticed the 1.5780 level somewhat close by but didn’t know if that factored in
Would have potentially placed an order somewhere in the circled area…
Just wondering if anyone else saw this as a potential trade. Are my S/R observations valid, as well as the other reasons I mentioned? And was that enough confirmation to enter a trade? Its weird how much harder and unsure I am doing my own analysis instead of just watching ICTs videos. Everything looks plain as day when I watch him (or other people here) explain their trades, but trying to find my own set ups isn’t as easy as it looks :8: In time (I hope)…
Also, still wondering if I got my pivots figured out correctly…
R2 - 1.5933
R1 - 1.5865
CP - 1.5800
S1 - 1.5732
S2 - 1.5667
Finally, if this was a valid trade, how would you determine your take profit price?
Sorry for all the questions and thanks in advance for the help.
Matty
Forget all the pop psychology trading books…all your answers are in the Noble Eightfold Path. Seriously! ‘Never give up’ (Right effort); ‘Put away greed and the desire for money, and forget the distress of past failures’ (Right mindfulness);‘Put all your focus solely on the charts and what is happening in the here and now’ (Right concentration); ‘Understand your mind, and understand what is really happening in the markets’ (Right view) etc…
…and if you like to see the markets as warfare, look no further than D.T. Suzuki’s work on Zen and Swordsmanship:
“It kills and yet gives life, according to the frame of mind of him who approaches it…”
Until I stopped thinking in terms of dollars, and started thinking in terms of pips won and lost, my emotional state was all over the place. Until I stopped looking for perfection, and started thinking in probabilities, my emotional state was all over the place. Until I started seeing how the big players were moving prices, and learned to anticipate instead of react, my emotional state was all over the place.
Apologies if this has strayed from an analysis of technical signals, but I do believe it is necessary to keep reminding ourselves that technical knowledge means very little without the right mindset.
Regards