Alright I made a quick and dirty Asia Open indi Asia_open.zip (13.7 KB) but not before 5 or 6 pages go by (Jeez guys, forum wh***s much). So as I understand it we can use it as a PivotPoint ie buy zone below, sell zone above - is there anything else to it? Why is it better or different from using the whole Asia range that way? Or am I being thick again?
p.s. The indi is set like your daily PP indi, it’s based off PP shifted so to get 2200 you put in 2 to get 2am you put in -2 (I don’t know why its backwards and I don’t care - it works)
p.p.s. NO internet, phone or on-site support giving. No warranty and NO refunds.
I’m looking at the market here using 2 main points
Major support and Resistance off of the daily and weekly chart
SMT divergence between PDH’s or PDL’s
I drew support and resistance levels from the daily and weekly chart
The market more often than not reacts at these major S&R levels (it’s important to note that these levels were put on my charts first)
In most cases, when the market reverses at these major S&R levels you get SMT divergence at PDH or PDL, I have identified this by drawing a small green horizontal line from the prior days high or low and you will see in one of the pairs you get the prior day’s high or low blown out and in the other pair it fails to do so.
So why am I doing this?
Well in this example the trend is down, These reversal points give you reference points as to “where we are at the moment” in terms of price. I’m looking to use the open close relationship. I want to go in with ICT’s mentality in that I note where the open is, I then look for the Judas swing, enter, hold for the day and get out. So in other words look at the chart where I market X on one of the highs, then look at the following bars and see how many opportunities you get by looking for additional sell days.
p.s. I know this is what ICT showed us in the video but you have to do it yourself to realize how remarkable this really is. I haven’t even looked at the other tools and look at how many opportunities you get and its not just the trades I have marked “X”, its also the trades in between those trades where you are trading inline with market flow and simply looking for the same thing to repeat over and over again.
the slide states:
A) that Interest Rates and Stocks are inversely related
B) commodities and interest rates are positively related
C) commodities and stocks are positively related
this is where it struck me the first time, as (given the humble math-skills of a drop out) it seems to me that B) and C) are controversing A) ?
After I continued reading it struck me again: “As interest rates FALL the economy strengthens, demand for commodities increase and commodity prices RISE.”
This made me conclude that I might have found a mistake in the slide and it should rather be: “An Inverse relationship between commodities and interest rates” instead of a positive relationship? Could someone smarter than me please verify this or explain to me if I’m wrong?
Just want to be sure I write down the correct relations for my notes…
I would appreciate any replies to this.
really looking forward to Sunday, when all the remaining videos should be published;) This will be amazing information to get started with my trading. I’m so glad I found this thread so early on my trading-adventure. This way I don’t have to learn a lot of crab and then relearn after I’ve lost my shirt a couple of times…instead I believe ICTs methods should provide me with a very strong foundation to build my trading career based upon.
In second week of January, I will start my adventure of a professional-demo-trader;) And althought I will spend February with another month of traveling, I really have the quiet wish, to feel comfortable enough to go live around summer 2012.
ICT, I will never find a way to express how thankful I am for what you’re doing here!
It is amazing that now many of us have come to see the overall functioning of the market …
In the beginning as the ICT said we’ve got everything we need to succeed in this business … but … only after these last few videos is that we learned how to assemble the puzzle …
It now seems that the graphics ask:
Want to come with me or take other Express that comes there?? LOL
Again … THANKS ICT
AND A HAPPY NEW YEAR TO EVERYONE…
Hi Michael you are about to save 100s of poor and needy families life, anything I will make from the trading I will donate 1/3 of the profit to the poor family. I wish that I can follow your guidance properly and make money and become a consistent profitable trader.
I wish you all the best and thank you for your help and support.
Ive been trying to wrap my head around market correlations for a while now. The conclusion Im beginning to draw is that the dollar is the driving force and there is a significant lag time before its effects are seen on other markets—so, things dont really line up nice and neat. In “normal” inflationary or deflationary environments these cycles are somewhat predictable (see video about the business cycle). But, I have kinda come to the conclusion that in today’s crazy environment, “normal” is being thrown out the window. As Europe struggles with it’s issues we are seeing wild whipsaw action as investors look to other asset classes for safety, sometimes its the dollar, sometimes gold, even oil. Everyone seems to think its only a matter of time before Europe has to fold–and the US will be right behind them. Until the great credit purge happens and things settle into a new “normal” I think things will continue to be wacky. Thats a pretty simplistic view and probably doesn’t answer your question–but just thought I’d chime in anyway.
I can easily spot the Judas Swing on the chart and am able to spot them fairly easily when looking for them. I guess my question would be as to where we would enter and where we would place a stop? Would it basically be treated like a Turtle Soup? Enter when it breaks back down into the range with a stop 10 pips above the top of the swing? (The Turtle Soup as taught in Street Smarts would actually place the stop 1 tick (pip) above the top of the swing)
if price is heading up to gun stops, I’ve been placing my entry at an S/R line above the targeted stops, with a stop 25-30 pips away. Same thing for stops that are being gunned on the downside
Use the templates to determine your entry, If we above the Asian range high I would refer to the 2nd sell day template, If we are within the Asian range I would utilize the 1st sell day templates we were given, If you going to use turtle soup I would look to enter right into those stops. ICT said in his earlier thread the low risk entry is always found on the retest, the OTE pattern, My issue with turtle soup is how do you know that the pair you are going to trade is not going run stops on the retest? We look for SMT divergence to confirm our trades so we would like to see one of the pairs blow out the highs, That’s why is so NB to enter right into those stops.
Not often I feel so greatful to anyone that it hurts both inside and outside, God bless you Ict and have a peacefull New year looking forward to follow you next year.
Just watching the “power of three” stream…
Damn Youtube, don’t block all this valuable content! so many (big) boys and girls are still waiting for their christmas presents;)
Maybe an account on filesonic or any other file hosting service could do the job without re-editing the videos…
they are very cheap and fast… I’d be happy to upload a video or two on my account and then publish the link here (just not sure if my account has a bandwidth limit hahahaha)
Im sure Im not the only one using accounts like that for downloading stuff;) maybe we could help out ICT sharing all those vids?
You know what is really amazing about ICT’s teaching is that he has been through the exact same things we are currently going through in our trading. Things like overtrading, overleveraging, chasing price, risking too much on trades, vengeful trading, impulse trading etc - he mentions all these things in his videos and how he learnt from them. I find it particularly encouraging, because it hits home every time it mentions these things, kinda like rubbing salt in the wounds, and slowly but surely I’m starting to see the light at the end of tunnel so to speak
Thanks again ICT, may God continue to bless you as richly as he has, and may your passion for and skills at mentoring continue to grow!
I wish we could download those livestream videos to be able to watch them whenever 