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

Good job Clark,

I was up for the LO and couldn’t pull the trigger… I told myself I was done for the year. Went to bed to only get up 10 minutes ago to see how nicely the trade unfolded. I also am new to the thread and to trading. I can’t believe how generous ICT is. THANK YOU!

Basically just how price reacts around certain S&R levels. You can see on my chart I have a few horizontal lines that denote either long term or intraday/session S&R levels. For example my TP 1 was Asia high, in confluence with the institutional level as well as the CPP. My TP 2 was Asia low as well as the support level of the ranging period we had prior to LO, institutional .80 level, plus that blue dashed line denoted a 1H, 4H or 1D support and/or resistance level.

At the same time (I didn’t risk it), price reversed on yesterdays S1, todays MS1, and if you pull a fib on the recent uptrend, it’s the OTE to go long, and long it did, until longer term bias, also stronger (signalling bearish, in my opinion of course), reacted once it hit the recent swing’s OTE just a few pips below 78.6%. As far as what it’ll do NYO, I have an idea, but just gotta watch. I’m not a fortune teller, I just trade if price openly triggers my setups. :slight_smile:

Would you look at that… I’m not just full of BS and an appetite to troll newbies afterall. :stuck_out_tongue:

Hope that helps!

Regards,
Clark

Ok, I really don’t understand why price (EUR/USD) reversed today the way it has, can someone please give me some sort of clue as to how this could’ve been foreseen? :confused:

Not sure if this helps:

Monitoring the US Treasuries (YIELDS): 2Yr, 5Yr, 10Yr and 30Yr

  1. We refer to and monitor daily the Two Year, Five Year, Ten Year and 30 Year Note on a line chart overlay.
  2. On the T Note overlay we look for Failure Swings to provide clues to the future direction of the US Dollar.

The 2Yr failed to go lower over the past two days.

StockCharts
$UST2Y,$UST5Y,$UST10Y,$UST30Y

    Bloomberg	
USGG2YR:IND,USGG5YR:IND,USGG10YR:IND,USGG30YR:IND

Nice win rate there, Clark. Congratulations. Appreciate the reminder about re-watching all those videos and taking notes. I think I know what I’ll be doing this weekend.

Good luck on the final.

Thanks :slight_smile: Only question then is how is one meant to tell when the actual reversal will take place? Like today, just before it started climbing again, it made an almost perfect OTE on the 79 retracement level (for a SHORT), and then mysteriously blasts upward… Sigh, just when I think I’m getting the hang of this, it always changes :confused:

:slight_smile: patience…

Hi there
Im sorry if my following question has already been discussed, but I still haven’t managed to fight through all of th eposts in this massive thread.

MY question is about traders trinity.

If price moves wayyyy out of the trinity ( way below buy level-area, as currently seen with the cable if Im not mistaken)
Market flow is still Bearish (yesterday it has been bearish on H1,H4,D1,W1,MN, today all of them remain bearish except H1 has turned bullish)

Now as my traders trinity is telling me that price has to eventually bounce back into range, market flow is still pointing down, even further out of the trinity’s range… How to proceed from there?

For example, if I understand correctly then there is currently a OTE forming on cable for a short entry, which complies with my market flow bias for today , but according to my traders trinity, market should head up back to range… is it advisable to take the bearish trade as I intend to, or enter bullish because of the trinity, or wait and drink tee?

I would greatly appreciate your inputs…

furthermore, I believe to remember to have watched an ICT Video about how to trade with the traders trinity IF prices are WAYYYYYY out of range (I got the actual traders trinity video… but I can’t find the one which explains at the end quickly what to do if price is out of range…) so if anyone knows what Im talking about, and has the link handy… I would be very thankful!

So long traders!

fredy

I feel your pain PureMuscle, took a short on the EUR/USD myself before leaving for work today, came in to find stop loss hit, only my second trade with ICT’s methods and I am still learning. Can’t win them all I suppose, glad to know I’m not the only one that saw it at least.

I lost on a NYO trade thinking tody was following the sell day template. I got stopped out for a loss.

I checked EU and GU and thought the pattern on EU was more attractive along the lines of the template and went with a short there.

After the trade lost, I started doing post trade analysis to try and figure out if there was something I missed. I think I found it.

We had simultaneous bullish and bearish divergence on the 1 hour chart for EU GU.

See thumbnail…

I think a filter I will use on trades in the future is monitoring this simultaneous divergence and use that as a clue to maybe sit on my hands and not trade.

The 2 vertical lines are the open and close of the NY session (12:00 GMT to 14:00 GMT - 7-9 NY ET).

The yellow lines highlight the bullish divergence that formed. The red lines are bearish divergence.

You can see that the EU started its downward trend an hour before GU. When GU followed an hour later, it met support at the pivot level for the day which is also very close to the asian session low (the 9am GMT hourly candle on GU).

Looking at GU a little more…the 5:00am GMT candle hit the MR1…went above the pivot and MR1, then retraced to the pivot/asian session low. We had bullish divergence in place.

In terms of clues…

  • Bullish divergence on the 1 hour SMT chart.
  • Confluence of support where the 9am GMT candles closed.
    • GU at the pivot
    • EU at Previous Day Low
    • EU at Today MS1 pivot level
    • EU at Yesterday S1 pivot level
    • EU at 261 extention of this weeks TT

When we look at divergence on the SMT…if we see bullish divergence, we want to see if there’s support in place to trade off of. On the EU…we had a confluence of support to potentially anticipate price moving higher.

Because we had simultaneous divergence…I also looked for areas of resistance because when you have bearish divergence, you want to look for areas of resistance that could be confluences to push price lower.

On GU…price had run up to R1, which coincides with yesterdays pivot and previous day high. Coming into NYO…price had retraced from R1 a bit.

To me…it looks like we had simultaneous divergence, and a case could have been made for price to go either way as both pairs were meeting resistance or support.

In hindsight…in my analysis for NYO trade, I will look for this and if I find something like this, it would be best to stay on the sidelines.

Watch 11/7 PTC from the first post.

YES! this is exactly the Video I was looking for;) thanks a lot!!!

So is this an interesting area?

Oh the 79 retracement level coincides with the blue horizontal line…

When the daily chart starts posting large range days or experiences range expansion downward… what class of Trader gets excited and what do they do in error?

Think about the range cycles covered way back in the beginning folks… :wink:

I can see the veterans scouring their ICT notebooks now :53::5:

Come on guys… you know this… :57:

The street money starts jumping in hoping price will continue downwards but it doesn’t, it pauses for a moment and comes up to take out their stops? Lol, forgive me if I’m far from being right, I’m just saying what I’d think at least :stuck_out_tongue:

The noobie or neophyte trader gets excited that price is going lower, and sells (chasing price) right into the smart money, who is buying into the strong bearish move.

it’s fair value for the day so far. About a 50/50 chance when placing a trade there.

[B][U]Now[/U][/B] look at the daily chart and what is resting to the left when yesterdays low formed and today’s LO traded? Blend what you stated and build a daily model for todays price action… what do you arrive at?

I will give it a try… after I just rewatched the 11.7. video;)

Looking at the daily chart of Fiber and Cable, I noticed that Fibers last candle was a dwarf so I assume ICT is talking about fiber?:wink:
I draw a fib according to the Trinity, and note that the 262 level has already been breached…

One part of me wants to believe that it has reached the bottom and will head back north into range… but another part of me
is wondering how much money is laying at yearly low (around 1.28750)…

Now both parts are newbie;) but I do believe that since yearly low was quite a while ago, and money moved up very nicely above that low… I would think that most people either took their profits already or at least adjusted their SLs…

Now how wrong or right I am, I will know once the prices is picking its side;)

What I wonder tonight is what cable is up to…
as it appears to get closer up back into range, I am very unsecure if the 262 fib (trinity) is still on… Does anyone believe that cable will go down until 1.5223?

Sincerely fredy