What Every New & Or Aspiring Forex Trader... Still Wants To Know

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One for example records… New Equity High. :wink:


ICT,

I shorted EUR/USD at 1.3820 and took profit at 1.3800 for a 20 pip profit.

I should of just moved my stop down and tried to rid this thing down but for a first live trade I didn’t want to be greedy and just took my 20 pip profit for the day.

It feels good to see that I had the trade down correct.

It look like it would of been a better setup on the GBP/USD tho.

GLGT

I didn’t take this trade but it would of worked out…

Once the EUR/USD filled the gap you could of went long on the friday’s closing range…

There was an SMT Divergence once that gap was filled confirming a high probabilty setup for going long.

As of right now it’s a couple pips shy of giving a 20 pip profit.

[B]Trading Friday’s High & Low of the Day:[/B]

On the EUR/USD I think if price gets to Friday’s High of the Day it might bounce off and go lower.

  • R1 for today is resting right on this level.

On the EUR/USD I think if price gets to Friday’s Low of the Day it might bounce off and go higher.

  • S1 for today is resting right on this level.

Will have to wait and see if this does infact happen.

GLGT

Things can look a lot different depending on your broker.
Image 1320626582-clip-17kb.png
Image 1320626703-clip-38kb.png

I don’t remember ICTs sunday gap trading in full but being that EU opened above Friday’s close we could expect a small move up before heading further down (whiplash or something like that) into higher TF long OTE’s (1hr/4hr) which could send us into the daily TF short OTEs. If you look at EU on the daily, price had just touched the 61.8% and will probably aim for the 70.2 or 78.6. That move downward to the 1hr/4hr OTEs would also put us in the TT buy zone.

Just what I think may happen, remember I’m still learning too

Hello everyone,

Does someone remember in which video ICT talked about backwardation?

I know you were just trying to make a point, but with Oanda you can set the Sunday open time to 5PM EST if you wish and see the gap like ICT does :slight_smile:

I didn’t know you could do that. :open_mouth:
Actually what got me was my IBFX demo. The chart didn’t start up until 6:00pm

hellogoodbye4201,

Thanks for your reply.

The notes I have on the Whiplash Short are…

  • For bullish environments you can buy the SMT positive or Bullish Divergence inside and or at the Friday closing range upon gap filling.

  • Take profits at 20 pips and set remaining portion to breakeven and look for London continuation into New York session.

The reason I thought this looked good…

  • 1HR & 4HR TF’s market flow is up
  • SMT Divergence on 5min TF when entry was available.
  • Confluence of Friday’s and Today’s CPP’s.

If you do look at the trade depending where you got in it could of been 20 pips profit, but very close…

What I like to do with these scalps when I have 15 pips profit is to move my stop to breakeven and then once we hit 20 pips I will take full profit out. Not sure if this is correct or not but makes me feel a lot better about the trade…

4.1 Cot-Sentiment-OI -ect.
This one actually answers alot of recent questions.

Wally

Thank you Wally!

Just wanted to ask if I am applying the basic concepts correctly here. Sunday gap up on cable.
Here is my daily chart. I’ve put a month TT on it and monthly pivots. Price opened in sell zone and on MR1
Also, on the most recent swing down the 61.8 fib is almost right on top of the monthly MR1.
On my hour chart I have the weekly TT - and price opened just out of “no man’s land” in the sell area. Above this area at around 1.6110 there is a convergence of fibs Longer term 61 and a shorter term 78 fibs and an S/R area. (I’ll be looking for price to revisit that area and short again) Also price moved up to Thurs/Fridays’ MR2 & R1 and took out Friday’s High.
For my TP I’ve marked an area with circles that has acted as S/R over the past week.
Thanks
Jack

H1 chart

I was waiting the whole weekend for a higher open because of the bearish smt on friday. Came in perfectly as most of you demonstrated :slight_smile:

greetings

Long fibre at 13680. Previous resistace. Institutional level. 14545-13160 fib resistance at 38.2

Hey Clint,

Just to double check, are these the current times now that it’s past November 6th?

Regards,
Clark

Hey, Clark

Those times have been updated. Click Here for the current Kill Zone times.

Edit: You’re in the [B]Mountain Standard Time[/B] zone (MST=GMT-7).

So, just subtract 2 hours from all of the times shown for New York.

A question about Asian range highs and lows: Are people calculating the Asian range as the highs and lows set in the Kill Zone (up to 2am GMT), until the Nikkei close (6am GMT), or until the end of the business day (8am GMT)?

Regards