Appreciate that so much clarkfx!!
PIPhanger, i understand what you mean, i thought i was making good progress so far, but then this exercise came along, it made me realize i have lots more to learn! I might just never sleep now.
Appreciate that so much clarkfx!!
PIPhanger, i understand what you mean, i thought i was making good progress so far, but then this exercise came along, it made me realize i have lots more to learn! I might just never sleep now.
Sounds good mozdef.
From what I understand we can see the whole theory of price action in any TF ā¦
That graph was weekly TF, and we see there, a lot of the theory of price action ā¦ Swing highās and lowās ā¦ Judaās swing ā¦ suportā¦
Just like in a low TF, but the range from the high to low is much greater.
Hereās a very basic attempt. There are more concepts we can gather from his illustration, but I think this scratches the surface. It shows the universality of his concepts as may be used across higher time frames.
Thanks that helps out a lotā¦I think I was stuck on OTE within an OTE and was trying to find an OTE on that chart he was showing and there wasnāt anyā¦I know what an OTE within an OTE is but not sure why he brought that up forā¦?
Well, if you look at the [I]next[/I] swing (right side of chart), you will find that price retraced to an OTE on the weekly. Scouting the lower TF charts you may have found a possible long OTE entry on the daily or 4-hr to get you in sync with a move to the upside, with an entry possibly on a 15min or 5min chart.
I have 15-20 minutes at 8pm EST I can outline my exercise via Twitter I shared earlier todayā¦ TheInnerCircleTrader - live streaming video powered by Livestream
Well this saved me the trouble lol
I saw some of that on twitter. I usually target about half the range of those long bars. You can make a lot of pips on those.
I do have to say that watching the daily chart with the fractals is just amazingā¦I like how it setup the big move for today during the london open or even if you got in yesterday and held it until todayā¦
One thing I canāt figure out is why in ICTās latest video he says you would have to have a big stop loss when trading the way he points out in that videoā¦wouldnāt you just wait for the fractal to form an then use the templates he provides on a lower timeframe to get your stop loss down to something closer to 30 pips?
Then also for moving your stop up as the trade goes in your favor wouldnāt it make more sense to trail it with a lower time frame then the daily fractals?
Maybe someone has some insight on what I am missing hereā¦
Thanks
You sure canā¦ that is the secret to capturing 500-1200 pip hauls. One entry, one exit. :59:
That was me losing focus in my illustrationā¦ if you listen you can hear my neighbors dog barkingā¦ and my internet kept ādoingingāā¦ I was going to compare the thinking of long term traders typical thought process versus this approach and I think that didnāt come out as I intended. I will likely go in and put lipstick on that portion of the videoā¦ but not until I get the rest doctored up.
Matty44,
I was not able to catch the bullish move. But I did report myself for duty!!
I was under the impression that the market was to trade lower today. I was looking for the Judas swing to break the lower Asian range then retrace in order to have an OTE for s short position. (Unless I am missing some of the concept!! Anyway, it is my my task list to review 'it)
I was looking at the USDX and it was slowly going lower. When I was looking at the cable H1 chart, I was my analysis was:
1- midnight GMT
2- Price at CP
3- TT in the equilibrium
4- Looking for the Judas Rally
5- H1 & H4 just changed to bullish D1 was bearish
Fiber H1: see chart below
1- Price at MR1
2- I had the 1.2997 level in my scope ( I taught it would have been a possible reaction level )
3- TT in the equilibrium
4- H1 & H4 just changed to bullish D1 was bearish
With the mindset that I had the price to go lower, I was not comfortable to enter a buy trade.
My after fact analysis clearly showed me that I had an OTE at 1.2980. That is a good lesson!!
But the main lesson that I keep from today LO action is that I had a bias in my mind that got me blind!! I was not able to clearly see my target. So I think I did the good thing. Patienceā¦ The LO train will be back again !!
Debriefing is complete.
Now for my next mission, Will we be looking for a sell Day? TT daily in the sell zone for cable and Fiber.
Can wait the see more the action tonight.
Cheers,
Buck
At the same time Buck, ICT has mentioned we SHOULD have a bias regarding the days direction before going in otherwise we will see confluences on both the buy and the sell side and will be paralyzed. Thatās why when you saw that first upswing out of asian range you may have took that as a judas swing if you were thinking a sell day. On the other hand, that day also looks like one of the buy day template ICT posted where there is no judas swing but you can enter on the asian range retest (if youāre bias was buy day to begin with). So you needed to have that bias to be able to say whether it was a judas swing or one of those buy day templates.
Hope you see what Iām trying to say here.
BTW I just saw ICT has posted a new thread on the forum
I made the same analysis Buck and got burned. Iām not sure why I ignored the H4 and H1 market flows being bullish. It felt like a judas swing out of Asian session that was ready to drop.
Oh wellā¦tomorrow
Mozdef,
Good comment.
I think that I am trying to incorporate too much tools or element in the same trading day.
I think got to focus more on which type of day are we?
After so, I can dig in my toolbox and pull the wright tools for the job!
Cheers,
Buck
I was right there with you guys. I didnāt like where it was going, and needed to go to bed so I closed out with a small loss. Itās ok though, they took my money during the LC instead.
I want to thank everyone for all the mt4 help recently. I think I got it from here. Hopefully anyway :38: . This thread is amazing. Good info and good peeps.
I see this style of trading will directly affect my life/work/sleep. Guess thats why you got to love top down analysis. I just going to have to stick to the higher timeframes for now. As I can see if I place a trade before bed I will wind up placing my stop exactly where the Judas swing will take me out every time. For now its watching and waiting for a chance to strike. Till then I must warn everyone to watch your step as you nrever know when you might be walking through my crosshairs.