Great job on presenting a logical method for trading the markets!
I am a little confused however.
It is my understanding that we 'trade with the trend’
Confirm the 4H with the daily and enter on 15m.
In your last video you went long AND short on the cable within a short period of time trading on a 5m chart, so one of those trades must have been a countertrend trade, which throws the whole ‘trade with the trend’ out the window.
Also, exactly how do we define the trend? Should we be subjective and have a educated guess or do we use an indicator like a 200 day SMA, which either needs to be trending up or perhaps just have price action above it?
It has characteristics that are very easy to learn and get a “feel” for. It’s a major… and I like it’s ranges over the Euro.
Before I say any more… would anyone in the chatroom care to share what we went over before I mention it… I just want someone who witnessed it to post before I do, that I indeed lose money and am not right all the time… but the tools came through again… real time.
Well I’m still in a bit of shock I think…lol… awesome trade by ICT.
First off flow was up on all time frames so longs where the go, we had Optimal Trade Entry on the 15m (62%-79% sweet spot) which was at CPP the fibs were taken from Asian session low to Asian session High, look good for a bit but turned on us for a small loss.
Then (and this is the amazing bit) while the rest of us where hunting around for other likley levels to go long, ICT calls a resistance level (Asian low and a break of the 1hr fractal) and then places a short trade and goes to bed, to me it didn’t even look like a level yet let alone tradable!!!
After awhile it made sense to us in hindsight but It was the speed of the decision making process that blew me away. Turned on a dime and with conviction in the trade. Gob smacking. :eek:
yea it was a excellent call last night switching from looking for longs , to going short…and wow did it go down right after that lol. It was nice going over it in real time to see what to watch for, and when / where to watch for it to happen!
Hey REO,
I’m not going to answer for ICT but I’ll try to help on a couple of points.
First off try to lose the idea of trends and think in terms of FLOW, no moving averages. Your looking for the money flowing into and out of the market, that’s what the D1, H4 and H1 fractal agreement can show you and keep you on the right side of the market, going with the flow. Together with various important levels and a few other tools and you can enter on any timeframe.
Also we witnessed just such a long then short trade yesterday on the chat, ICT can see flow change very quickly, more so than us mere mortals.
I’m sure more stuff is coming and will clear up things for you. In the mean time just keep reviewing the vids, I keep finding little but really important stuff all the time.
I was just wondering…before the drop in the Cable because of the UK GDP report, I noticed that the OI for the GBP futures has been higher than in the past and was steady for a few days prior to the release of the GDP figures. The way I see it, this is because the “smart money” already had an idea of what would happen and built up their short positions.
Did I get that right or am I just imagining things? :o
Thanks chizzenpips
Looks a little tricky but I’ll work it out
Sounds like you guys had some fun the other night. I managed to catch the bulk of the GBP’s fall, more by chance then skill I’d have to admit.
(Still in demo mode here)
and thanks for that little rule of thumb about daily highs/lows being formed by 4AM EST “90%” of the time. anything that works 9/10 times is worth betting on IMO
