I plot them from the end of the calender month. I get as close as I can on a 4H chart, I don’t think it needs to be any more precise than that
Ok cool, thats what ive been doing all along. I just got thinking about how you can monitor support and resistance over a rolling period.
Less to plot each week too 
Hey everybody,
I think there was even an indi posted in the thread for monthly TT, reducing your work 
Here’s what I’m currently watching:
Uploaded with ImageShack.us
GU broke through that range while EU is still in and took a bounce of it. Let’s see if it will be able to trade through or if GU was just a fakeout 
greetings
Naked trading part one:eek: What happen in Brussels today is not a good sign for Euro, Technicals as I understand it
point north but negotiations in Brussels point hard south, good for me Im still at demo mode.
You would actually start by using the hgher low (the higher one inside your orange fibs) and look for a s&r within the OTE, if you find some then mark off that area of interest, then move on to the next lower low (your orange one) and repeat, look for s&r within the OTE, if found, mark it off and on to the next (your white fibs) repeat process and then onto the next lower low… ect.
The main thing is you want PHYSICAL S&R within an OTE to make it an area of interest then dial down to a 15 or 5 min chart and look for other things like pivots and institutional levels that line up also within these areas to make them really interesting to you.
Hope this helps.
Wally
First time poster, long time reader. Thanks firstly to ICT. The information you provide is priceless. Absolutely, unquestionably priceless. Thank you for your selfless commitment to us all. And to all of you who post routinely, reinforcing the rules of thumb of ICT, thank you. The commitment to one another’s improvement is truly amazing to see. Superb work everyone.
My question relates to determining key support and resistance levels determined by previous price activity. I understand the top down analysis approach and how to identify these areas. And how they must align with other areas of S/R, pivots, institutional levels and OTE, but I still seem to be missing the mark by 20 or 30 pips and have been stopped out because of this. Am I calling these areas incorrectly?
Take the previous example by MCAWally. Specifically the key level identified at 1.5820 (top level). Looking cloesly at this area you also see the area at 1.5850 being respected on a number of occasions. This 30 pip difference is why I’ve been getting stopped out. Can someone help to clarify what specifically we’re supposed to look for. Should we pay more attention to the whicks on the candles, especially those that have passed through the 1.5820 level. Or should we just be looking at this as an area to watch, and zero in during zill zones on lower time frames?
Any help would be great.
RomanPip
The above post is just a quick and dirty example for Phenex on just the 1H chart of the sort of things to look for to find some sort of level to watch out for, the same thing needs to done on the 4H and daily charts and it all added together to get a good level.
Now thats cleared up, lets consider your question about 1.5850 and 1.5820 levels. This statement is your answer "
[I]Or should we just be looking at this as an area to watch, and zero in during zill zones on lower time frames?[/I] " but if your ever faced with 2 strong candidates you also want to consider which of the 2 levels would be a better trade? which of the 2 will give you a better stop thats closest to the fib low and which level will give a better profit potential furthest away from the fib high?
The 1.5820.
Don’t worry about missing trades, they make amusing forum posts, you just want the choicest trades.
Hope this helps
Wally
Thanks Wally. That clears things up.
It is a tricky one because you not only risk being stopped out, but you also face the proposition of the order not being filled, which I’ve also had happen I guess the positives are that I’m getting the “ball park” entry area correct. And that each time the trade has gone in the direction I had hoped.
Thanks again
RomanPip
i took this one long:
gu long @ 1.5973
- ote
- lonng trend
- kill zone
- previous monthly/weekly high
what do you guys think?
Consider your S&R on the daily. Consider the figure you are up against. Consider the range for the last 6 months and draw a Fib on that high to low.
Anyone else catch that awesome short on the fiber today =]
There seemed to be a pretty nice distribution pattern with smart money on the higher timeframes at a good resistance point
Thanks Wally!
=(
Unfortunately for me I was part of the street money that got wiped up this morning on fiber for taking the opposite position. Although I got stopped out, the bright side is I know why and managed my risk well to ensure my loss was minimal. Anyway, there is always next time- all traders must absorb losses and this was one of mine.
I think I can be right two to three times per week. Up until last Friday morning I felt in sync with the rhythm of the market. Since last Friday morning, not so much. I’m going to try to position myself someplace I feel comfortable and let the trades come to me. Just need to be able to net about 40 pips per week.
Great way to look at it , i get my losses all the time lol …and glad to hear you handled risk/loss effectively! :13:
Trying to anticipate a future candidate for support, given the market flow is up. Could use some help to verify my analysis.
This is the 5m Fiber chart.
The white box is the OTE retracement level of the London Close swing. It lines up with institutional level 0.0080 and the previous London Open Low for support (represented by the blue dotted line). That’s three confluences.*
Even more likely for price to get there, since the Asian session will more than likely counter market flow, right?
Also, I noted how the New York session nearly used the same support and resistance areas as Asia.
I didn’t make any trades today, as I still consider myself a neophyte. Should I short now to try to get on both sides?
*Edit: I forgot to mention a fourth confluence when I first posted this, which was Sunday’s high, which my daily chart has at 1.3887.
I had to 3 trades today, one was a bust and one was a good cover that I exited early. I lost out on a GU trade. However, I took the OTE Eu trade off the daily pivot which was sandwiched nicely between the 72/79% retrace zones + LTF trend direction. I exited that trade after I covered the pips lost on GU and made some profit. Luckily I exited when I did as Comcast decided to pull an emergency repair and knocked my internet out for hours. When it finally came back this afternoon I saw Eu went right back to the top of the range.
My GU trade would have been profitable as well, I went long at the bottom of the hourly range and was stopped out only see the PA exceed my stop by a handfull of pips and bounce back hard at the 1.59 level. My stop was too small in this case.
Edit: 3rd trade was a nice gu short off the 1.6 this afternoon.
[B]Hey Babypipsters[/B]! 
Just a heads up there is a new Pro Traders Club video posted on the first page of our thread…
[B]GLGT [/B]:57:
ICT,
Thank you for this latest PTC installment, your analysis of the Fiber was very helpful. I’ve been focusing too much on NYO continuing the trend set forth at LO (in this case short) so overlooked a long opportunity at NYO. I did the same last Thursday.
Hope you feel better soon.