Now that I’ve said that, the weekly low I’m using of 80.23 doesn’t make sense anymore…that low probably belongs to the week before last, so I’ll be changing my low to 80.31 as per the low of last Monday…Nov 2…hope that didn’t cause too much confusion :o
yea I was wondering about that as well 
but thanks for your reply I’ve also edited my original post as per ICT’s request.
[/QUOTE]So the simple answer to your question is no… just note the previous day’s high and low. When price trades to the Previous day’s high, demo short it… take 20 pips and risk 20 pips. If price trades down to previous days low buy it in a Demo account risking 20 pips for 20 pips gain.
The same applies to weekly highs and lows. This will be rather illuminating for the new trader to see the consistent setups nearly daily that repeat over and over. It will build a foundation in their hunt for a basic approach and stage to wait for setups to form versus just clicking on any ole’ pattern or indicators signal.[QUOTE]
Hi Im a newbie. Loving the videos and looking forward to the others.
I have a question regarding the above quote. do we use the the daily charts to note down the daily highs and lows and weekly charts to note the weekly highs/lows or can we use the H4 charts to mark them?
Hi Im a newbie. Loving the videos and looking forward to the others.
I have a question regarding the above quote. do we use the the daily charts to note down the daily highs and lows and weekly charts to note the weekly highs/lows or can we use the H4 charts to mark them?
I like to use one hour charts in metatrader. You can turn on period sepperators and it automatically draws a vertical line to show the days. That makes it easy to see the highs and lows.
As per InnerCircleTrader…
Originally Posted by InnerCircleTrader
Mozdef please edit your charts on the same post and [B]only note an hourly and 15 minute chart [/B]with the Euro Daily Highs and Lows for the last three days… the Previous Week’s High and Low levels noted as well.
Hi ICT,
I know this exercise is to build discipline to consistently follow a routine, and then wait for price to do it’s thing and reach one of those areas before opening a trade. Do we keep trading each time price reaches those areas, or do we stop after trading one of them?
[B]Edit…[/B]
After re-reviewing your video, it seems I glossed over the part about writing our own simple system which is to include those key areas to trade from and 1:1 money management of 20 pips… :o
Therefore, I’ll just answer myself and say I will take one trade per day based on one of those areas triggering…and maybe a few other added rules which I’ll post on my thread.
Thanks 
Hi
anyone know how to upload image here?:o
Seeing this exercise is about good habits, I’m journaling these trades.
This is something I am so slack in doing and needs correcting.
hi sweet pip…what happened with your trading stile about harmonics-gartleys,butterflys and all…/30 pips a day thread/just qurious…cheers
[B]Mozdef[/B]:
The point in noting these levels is to highlight price levels that will have a high odds of providing Key Support and or Resistance in the short term. I like to review the previous three days worth of Daily Highs and Lows but it’s not limited to the previous three trading days alone… these levels can and most often provide S&R at future times.
The reason I like the three day period of Daily Highs and Lows is basically due to the structure of Swing Points and they are seen as a Classic Three Candle Formation. A swing point is a high or low that records precise levels when PRICE was forced to turn direction and create a Support or Resistance.
Since Daily Highs and Lows are static and very easy to determine this is your beginning point for noting Key S&R levels. There is nothing subjective about “where they are”… afterall the levels are “known” and easily referenced by anyone’s chart.
What you want to study is when Price trades up to a Previous Day’s High, expect the Price to present a bounce at the Previous Day’s High in the form of Resistance. The same can be expected should Price trade up to the Previous Day’s Low… expect the Previous Day’s Low to present Resistance.
Conversely, you can expect Price to Bounce in the form of Support should Price trade down to the Previous Day’s Low and or Previous Day’s High.
It is typical for the Daily High and Low to present outstanding S&R levels on levels seen two days ago… this in my opinion, is due to the nature Swing Highs and Lows form. You have an example of this in your posted charts… note when and where the Previous Day’s High and or Low presented a turn in Price that offered atleast 20 pips in movement. Note when and where it presented more pips and how Price reacted to these levels over a consecutive three day period.
The premise of Techincal Analysis is to find and focus on times when the Price of the market is positioned to move in an anticipated direction. The stumbling block or most Traders is not having a firm understanding on how to zero in on areas to “expect or anticipate” a Trade to form well in advance of Price actually trading there. Thus providing the knowledgable trader the opportunity to relax and patiently sit on his/her hands while the setup comes to them.
I will refrain from saying anymore here but study the action of Price in your charts like this for a few weeks and note how many handsome set ups form on the basis of this insight. 
Relax if this went over your head… it’s all covered in the S&R videos.
GLGT
Hi cashdemon,
Oh I’m still trading with the gartleys and butterflys, just not by themselves anymore. I keep watch for them…actually the “Zup” indicator does… and when price is at a key support or resistance level and a harmonic pattern takes shape, I take it as extra reinforcement to trade that area. Of course there could be other factors that converge at a key S&R level too or instead of, like pivots, fibs, etc, which gives me more opportunities to trade than just the harmonics would due to my limited time to trade.
Nice avatar, Sweet Pip!
Thanks Clint :)…I think the other one kinda looked like I was holding a deck of cards, plus it wasn’t the most flattering look for me either …lol.
thanks ICT for that informative reply. I’m also studying Nison’s candlesticks and he also repeatedly hammers in the fact that candlestick reversal patterns are only really significant at key S/R lines which underscores their importance in trading.
When I first arrived here on Babypips, I thought you were holding a bridge hand.
I was about to post a bid of [B]1 - No trump[/B], — then, I realized you were holding cold cash.
If one would study any significant trade setups regardless of indicator or method… its all only significant at Key S&R levels…
Thanks guys for the reply to my previous question.
I’ve been drawing the lines on the charts over the last couple of days and although I’m not in front of the laptop all the time I can see the bounces off those s/r lines on a regular bases!!
I did open 2 trades with this system and one trade I closed at 18 pips profit. I was away from the laptop for a while after I opened the other trade it went up over 20 pips in the right direction but went straight down the other way and hit the stop loss!!
So simple, yet so effective!!
hey ICT any idea when we get to see the next set of videos?