I can explain a few things but I am still learning this dance.
Since it is a holiday you can expect a smaller range session because less players will be in the market.
As for projections, you need to be looking at higher timeframe intermediate term swing highs and lows (1H! and 4H)
looking at the previous days lows see how it did the double bottom thing. Well the second push down surpassed the first triggering the long order stops and as you can see traded up from there. So you could be right about if it went that low again shorts could come in, but you may want to see a bounce off the previous resistance and make a nice ote that could move to a higher timeframe extension.
It just doesnt look and feel like once of those larger range days, but as coomy has been doing you can get some good scalps.
My trade todayā¦ so sad. Made 30 Pips and got stopped out because of auto break even after a profit of 30 pips. Not happening the first time. Maybe i should consider something different with my move to break even after 30 pips profit. Any tips?
sometimes taking a break from the market its something that can help us a lot, i quit trading for nearly one year and have re started lately.there is so much information on forex today so much strategy and indicators that we as a newby, we will pound on these information thinking it will bring us fortune, we will keep on adding indicators on our chart thinking they have the secret to our riches and when market doesnt react the way we want, we are confuse and frustrated. the one year i quit trading has allowed me to remove all these confusion and have a new look at the market, and with the guidance of ict, am trying to discipline myself and adopt the right attitude towards the market. many things have improve since then in my trading, am not consistent yet but am making progress in that direction and capital preservation have a great importance in my trading plan today,
wish u all the best for the future and hope u come back to trading with new perspective.
I think you did everything right in terms of how you managed your trade, especially since itās a weird week for trading. I would have no regrets there. When you start getting cutsie, then you deviate from a sound strategy and lose pips.
What you could have possibly done afterwards is realize you were in an OTE short right when you got stopped out, and put a short order in a few pips below central pivot. You would have then had central pivot the two previous highs, and whatever that green line is as protection, and thatās just from looking at your snapshot, you likely had more to help you than just that!
Yep i could have reentered there, but im using pending orders and usually am not in front of the screen all the time. Thats why i use the auto partial TP and move to break evenā¦ hmā¦
There are a few good phone apps out there that alert you when price hits a certain spot. Some of them have multiple alerts. Really good if youāre not into staring at a screen all day, check into it.
I wanted to quickly post a warm Happy Thanksgiving to all of you!
I am thankful for you all and your continued interest in this thread and my shared works. I trust you will have a lot more to be thankful this time next yearā¦
From my familyā¦ to yoursā¦ Happy Thanksgiving Babypips! :57:
In the spirit of Thanksgiving, I want to extend a specific thank you to ICT for your ongoing and unwaranted generosity, mentorship, and encouragement towards us nub apprentice traders.
I feel blessed to be a part of this and Iām excited and hopeful looking out towards next year.
Hi ICT
Iām new to this website, so forgive me for joining the class so late.
I have been through a few of your videos, and this is by far the best material I have seen in my short forex life.
Just one question though (actually I have many, but just one for now):
Iām a little confused by your explanation of pivots. You say that the area above the pp line is the sell zone, and below is the
buy zone, yet I have seen you take a long trade in the ābuy zoneā. In one of your video examples, you took a long trade
when the price retraced from above and bounced off the pivot, which seems logical, yet seems to contradict the initial
statement.
Can you please explain what you mean by this. I think Iām missing something??
Anyway, even though its only been a few days since I got hooked on your thread, I am already grateful that somebody like yourself can sacrifice so much of his time to help others.
Welcome to the site and to this threadā¦
Let me just say itās going to be a long journey for you, but if you stay with it, in the long run it will all be worth it.
The pivots do have buy and sell zones, but they arenāt strict rulesā¦You have to put everything together in this thread to make sense out of all of it. If you just started watching videoās then I suggest watch and study everything in the videoās and it will all become clear in the end. Also read as much as you can on this thread which you will come a crossed answers that you have questions for while you go through your journey.
For a simple explanation of the buy and sell zones when you are allowed to āreverseā them is when you are in a long term trend. If price is moving up and you are in a sell zone you can look for Support to form on a pivot in the sell zone to get you into the move going long. Of course this goes a long with many other factors and down the road you will start picking all of these up.
Iāve been studying this stuff for over a year now and have been through everything about 4 times now. I still donāt get this trading concept completely yet. Just remember to take it slow and eventually it will all come to you.
This is an awesome site, and an awesomeĀ® thread. I was expecting insults not a welcome.
Your answer makes sense, thanks. Iāll stick with it, but its hard to be patient, I need to know everything now.
Its past midnight in Australia, and Iām going through these videos over and over.
You right though, I need to take it easy.
I want to see what others thoughts are on where they see the GBP/USD going in the near futureā¦
I know a lot of people are seeing an OTE forming on the daily chart for a long.
If you look at traders trinity for this week it has gone way past last weeks low. So I took my fib and used ICTās concept of predicting price at the 200 extension. Now I do think price will retrace at some point before it gets down there, but in the near future I do see price heading to the 200 extension which is only 18 pips from the Oct. low.
You think they are possibly gunning for these stops?
Price is hanging around the 162 extension and still in the OTE on the daily chart. Iām just confused to were price is going to go. Is it going to go higher from here because of the OTE or is it doing to go lower here and gun for the October lows?
Ha ha
Those were not spelling errors, I was tracking a trade and writing at the same time.
When I read it back ā¦well it was embarrassing. Some how the words got mixed together.
Iām as hung up on this as you are. There are OTEs for both the cable AND fiber right now on the daily for a long. HOWEVER, technicals and price action still indicate that price should continue making lower lows. The USDx is currently trading @ itās November high. I canāt see a reason for price to turn around unless COT data demonstrates heavy buying on the commercial side, as well as some sort of price divergence as confirmation.
To me, smart money would would expect a lot of long positions to be built up here since we are getting closer and closer to October lows, as well as traders establishing long swing positions as retracements like the long OTEs weāve been talking about for the cable / fiber.
Knowing that, should price breach October lowsā¦ I expect a sharp decline for both the EUR/USD and GBP/USD.
I believe you are correct in your thinking. It is just tough to always tell what is the most important thing to latch onto when taking a position because this could have easily traded up and people could have been saying yah its just trying to retrace to higher levels, obvious no?
Currently we are trading up after london close on the cable and there is an ote from lo low to lc low probably trading up a bit just to finish off the week. What I observed as important was the fact that we broke the TT and traded down all week, it seems once the TT zone is broken we are constantly moving towards extensions and the retraces are not usually as large. We are going to begin next week in the buy zone and maybe there will be a reasonable retrace into fair value, but i think you are right that if we trade down look for support to have turned resistance around that 162 level outside the TT zone and we will probably be going lower.
As we know ICT still has stuff to share, some im sure is āmagicā, but I am really enjoying projecting the ITH and ITL inside the TT extensions because they are showing were price can stall inbetween and showing entries if you may have missed the larger move.
I guess I just wanted to bring this up for discussion, to pick everyoneās brainās to see what you are thinkingā¦
One thing we have is an OTE on the daily suggesting we might have an up move.
On the other side we have an extension on the TT tool which suggests lower prices.
I can see where we might go if the OTE pains out, but with the TT tool once price does get to the Oct. low is price going to jump higher because it is stop hunting or is it going to find resistance on the Oct. low and fall like a rock in hopes to find more stops.
Is there anything we can do besides sit on our hands at this time?
Would it be correct is saying we should sit on our hands until either
the 4H fractal is broken to the up side orā¦
the 162 extension of the TTās tool is broken to the down side
Is there any point at this time to try and scalp trades until one of these two happens?
Since I am confused at which way price is going what way do I take scalps?
I think I am going through information overload right now and needs some guidance to straighten this out.
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