Range Cycle is the concept that there are big ranges following a small range, or series of small ranges.
Range Potential meaning, how much of the “range potential battery-life” has been used up. I don’t trade London Close, so I’m generally looking for range-expansion trades. A “large range day” on the Cable or Fiber should get you comfortably, 120+ pips of range potential. And often the big range days are over 180, especially on the Fiber these days…
I’m still deciding whether I want to use the ADR, or a preset value of 150/180/200, but I do use ICT’s ADR indicator, it’s got multiple uses
I drew a fib from the high of 1.3465 to the low of 1.3429 and got an OTE from that consolidation at the bottom of the second move at the 1.3455 level. 20 pip stop loss at 1.3475 I was aiming for those stops from last week’s low and right at the 1.3420 institutional level. NYO kill zone, daily, 4 hour, and 1 hour MF down, and Sunday’s S1 level added confluence. Stopped out of the trade but am happy to see that I wasn’t crazy to have taken this trade.
My first profit target was 20 pips since I had a 20 pip stop, unfortunately price never even made it back to that before heading back up.
A huge accomplishment I made on this trade though was being up for the entire NYO kill zone. That’s been the hardest thing for me thus far.
I’ve just had a moment of reverse greed.
Tried to use a pending order to enter cable short and missed my entry by 2 pips, should have gone with the central pivot for my entry.
I suppose by being greedy on the entry it’s more likely to keep you out of a trade than to over-trade.
Hi ICT I know it’s slightly off topic but what is the music that you use on the intro to your videos? It’s kinda neat, nice choice on Van Halen for the London Close video too
Reviewing the charts last night I was looking at the cable and said okay gotta realize that 1.5890 support turned resistance has to be watched.
I wasnt giving past levels enough importance focusing too much on previous 2 day analysis initially.
price hit the 5890 level turned down and offered a nice ote to get short just before nyo. I am sure if u were a little late to the party there was another opportunity on the 5m i saw within the nyo session to get in.
Price broke previous days lows and has now traded into an ote just before london close based on todays top and bottom.
quoting my german econ prof. ‘This is powerful stuff’
real time looks good when you have the levels and perspective grasped huh?