@PipARush Petru
What is MF?
market flow
i would say that the market flow on h4 is down.
yes, it is now,but it wasn`t at 8:00 am GMT
regards,
Remember to check the SMT tool divergence when looking at trades. When tops diverge the prices are likely heading down, then bottoms diverge the prices are likely heading high.
Fiber headed south hard yesterday while cable shot high to retest the previous high. This was a MAJOR divergence and a strong likelihood the cable would eventually reverse course and head lower; as of Asia, both were heading south.
Also look to your Asia range and your location at 8am, you were south of the Asia low on both fiber and cable. Cable retested the asia low right before 8am and was soundly rejected. These 2 factors really should have told you the price action was likely heading south.
There was too much distribution taking place yesterday and today. This could be an easy continuation of the overall daily downtrend. OTE Zone on Daily too, got hit yesterday at R1 with that huge stoprun. They don’t move Cable up for 200 pips just for a shortterm down move. They wanted to clear the stops to iniate a longer term down move. I took a look at the recent COT reports and the institutionals didn’t make any attempt to reduce their short positions, giving a hint that they expect price to fall further.
@Patient Pip: I closed my positon as Weekly Pivot was very near and I already made 6%, why should I go for more? Soon after I closed it there was a bounce of WP and a sideway move. But do you see when it went through, how it retested it? CPP was also there, so I waited for the pullback again and there was an OTE forming at 08:55 Londontime @1.60357 which I nearly missed because of spread, but was happy enough to get in. Cut through Weekly S1 and I closed it for 120 pips this time 4:1 RRR. Maybe it will continue it’s way down, but who’s know for sure 
Have to work tomorrow again, so I’ll call this a week 
greetings
I wanted to share 2 indicators with everyone to help make your s/r charting easier.
NB-SnR will change the label and color and visible time frame of the horizontal lines you place on your chart based on the time frame you place the lines. For example, by default, the horizontal lines I place on my chart from the daily time frame will turn blue and the label will turn D1. As I go lower in tf, I will see that blue line and lable and know it is a stronger s/r. Simililariy, I place a horizontal line on the chart from the 15m time frame, it will turn grey and only appear on the 1, 5, 15, 30, 1hr time frame. Now when looking at the 4hr and higher tf that minute s/r won’t be there to clutter the charts.
NB- SnR Autolabel.zip (1011 Bytes)
NB-SnF I reformatted the above code to work with fibs on the same principle. The higher TF fibs will show on the lower tf, but the lower tf fibs won’t appear on the higher TF where they really don’t have much authority.
NB-SnF Autolabel.zip (1.01 KB)
ON both you can determine the color you want to associate with the time frame along with the line style of the horizontal lines for both SnR and SnF.
You do come up with some simple yet brilliant indicators, Hordane. Many thanks for your time and effort because it really does make a difference.
Regards
Thank you very much Hordane. Great work!
The indicator was given to me by a friend and fellow babypiper Norwegian Blue. I adapted his initial one to work with fibs as well.
Thank you,guys!
I have my eyes on a potential cable long opportunity for London Close that provides confluence of tested support and round number OTE near 1.5900. It’s currently trading at around 1.5940 but if it drops down to OTE zone without breaking the recent swing high it could provide an opportunity. Killzone I’m looking at for LC is around 16:00 GMT - 18:00 GMT (this week). My only concern is that we did trade back into the daily range after making the low of the day so I might just sit on my hands.
Click to enlarge:
Edit: Looks like the swing high got taken out prior to retesting the low I had marked as support. No trade entered, sitting on my hands.
Market Flow, but you know that know lol
AUDUSD recently made a bounce of broken trendline and it’s still out of ADR, better canditate for me. Have a pending order and broke my intention to stop for this week @1.02900.
As I’m writing this it got triggered oO
EDIT: 50% off @ 1.03100
EDIT2: Over and out @ 1.03300
Nice trade. Looks like you’ve had a great week so far, keep up the consistency.
Cheers :44:
What are the other Smart Money Tool pairs? I tried doing a search in the thread and found no list, so I thought I’d make one here.
- [B]Cable/Fiber[/B].
- [B]Aussie/Kiwi[/B]. (thanks, fxnumerouno!)
How about their Yen cross counterparts? Any others?
Aussie/Kiwi definitly works. Look at LC today. Aussie traded below prev week high, Kiwi failed. Aussie bounced of a broken down trendline on daily and is currently trading up again.
I sometimes take in GPBJPY for confirmation on the Cable/Fiber SMT. Dunno if this is correct, but it helped me for the recent Stopraid on the Cable.
Cable OTE based on late yesterday suggesting we move higher to start the day? mid pivot acting as resistance, london open has potential to make another OTE and move us back into fairvalue.
Been reading for 1 week and i am obsessed just seeing if I can start picking out subtle moves.
23y/o and studying up because being a full-time trader is my dream. started with studying equities, but have gravitated to forex, and currently a finishing finance degree. Just trying to focus on one style and feel like this community and ICT’s teachings can lead me to the promised land.
Btw what was that nutso divergence on the 31? Was some entity accumulating to make a large short position?
Is that a London Close video I see in the first post? 
Thank you, ICT.