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

I’m not sure if the homework was ONE trade a week or double tap shorts in the direction but either way it sure works real nice :slight_smile:



Wally

Thanks mozdef, I appreciate it. And from what I can remember, there’s was only two parts. I missed the second one; I’d be pretty dissappointed in myself if I missed two…

Clark

It looks like your broker is GMT+1 because our 4 hour candles aren’t lining up. And looking at your times in your time zone indicator, London and broker time are 1 hour apart.

Your STH at 0800 on jan 2 isn’t a STH for a GMT data feed (which my chart was).

Hence, I don’t show a ITH being broken anytime recently. Pretty big impact there due to time zone of the data feed. You see a bullish market structure b/c a ITH was broken. I don’t.

Not saying mine is right or yours is wrong. Just pointing out the differing analysis conclusions can be different due to the different data feed.

I felt like you were saying my analysis was incorrect. Which I am open to feedback if there is an error. However, I feel like an orange was used to refute my apple.

Wally - looking at the chart I posted with a GMT data feed (reconizing we have different fractals as a result), do you have a differing conclusion than I posted? Again…not being confrontational…just feel like a critique was given on some analysis I posted, which I’m not sure is valid given the difference.

It is my belief that Michael has 3 Possibilities for his Daily Bias: Long/Short/Not Sure

and I remember this last part very clearly:

on the days that he DOES “take a side” his accuracy is about 80%. It is also my belief that he nails down that level of accuracy by being very aware of the days which do not have a clear directional bias…

Now, I think I’m just echoing some people before me, but I wanted to summarize my thoughts on the matter as such :slight_smile:

That is correct I’m using the Alpri UK Demo.

Which is why you should never get married to the vain, not everyone is seeing the same thing on the 4H but the daily they are.


Factals are a quick way of doing MS but I also like to take note of these short term high/low, just in case. I’m a purist. lol.

Wally

p.s. I see your using that marketstructure indi. I found it’s not 100% reliable. Just saying.
p.p.s I’m not saying anyones right or wrong either btw :- This is just eductional stuff for who ever’s interested. :slight_smile:

Not entirely true. IF your 4hr chart is off your daily chart is off. Now it is my belief that the daily candle should close with NY close. I would like to hear others thoughts about this. My thought is the daily charts should open and close with the weekly chart. Sunday should not be a factor on a chart unless tf is below the daily and even then is questionable depending on ow it affects the 4hr. 1hr and below dont really matter. But can have a major impact on the daily TT if you base it on a sunday. Just my thoughts here. Would like to know others on here as most of you all know this better than me. I am just reading along but as fast as I read there are just as many pages added. So I got a long way to go. I had a decent year last year but this will help me step to the next level.

I am falling behind a bit - no worries however - I already know it takes me just a bit longer than some/most to grasp it.

on that note some simple observations - and maybe a question at the end.

I wonder how many folks went long sometime Jan 3? How many went short on Jan 4th? I did go long on the 3rd and made over 100 pips - -
I do believe however my analysis was incorrect - as I should have had a short bias maybe -
See on one hand a fractal low made - and so per a video - a judas swing long (take it everytime) mentality - EVEN though in the face of downward bias (I am simply trying to grasp the nuances here)

So then on Jan 4 - I did have a long bias, as price was still (after that fractal low) - hence I did not trade - looking for judas going north didn’t happen (ok maybe on the cable, but at the time of that - there was already a swing high - so search and destroy type day. (again I didn’t make a trade)

So I am now watching and wondering what could happen today the 5th - I am taking a short bias - as both a fractal high - and market structure still suggest a down move.

I am hoping to see the fiber make a high above 1.2955 and the cable to not make a high above 1.5645 (smt diver for short)
Then try the short on the cable.

AND SO - TRADE ADVICE (just kidding of course) YOU ALL should go long - cause I am always wrong - - - - -

So when you guys are looking at market structure and determining ITHs, LTHs, ITLs, etc, what time frame are you using? 4H or Daily? Or do you look at both? Should it be the same on both?

me personally consider LTH on the weekly ITH on the 4hr. Daily and 4hr seem pretty consistent for the most part. STH I look at 1hr to 15min. Thats just me though

Hi mozdef,

thanks for sharing, and good timing too since i was searching hard to find them :slight_smile:
but it seems that the megaupload link is dead at the moment?

  • higher quality would be great too
  • will u b sharing higher time frame analysis part 2 as well?

2nd attempt to nap before LO has failed. Looks like I either gotta stay up late, or sleep in til NYO. My body just refuses to do what I want it to do :frowning:

Hi,

Good example of ICT scalp video.

I personally did not trade 'it. I was just not able to find proper entry.

Look how the price nailed the 200% level? Exactly how it was explain in the video.

I was expecting an higher swing high (Judas) breaking the asian range. It did not occur.

Anyway, this would have been a +/- 55 pips ride !!!

Did anyone of you catch 'it?

Cheers,
Buck




What you see here?

Am I thinking too much about this?

Hey guys,

I was having a look at the Aussie today and thought that it had the best set up for a trade.

First I had a look at a daily chart where we just made a swing high a few days ago where the fractal formed.We can assume that we can now look for a short. The W%R is also plotted and is in oversold territory.


Next I had a look at the traders trinity on a 15 min chart. You can see the huge run up in price had stalled and made a Chris Lori Bull/bear battle reversal pattern (if you look hard enough you can find these videos ;). Price kept making slightly lower lows. Price was also way out of the “overbought” area of the trinity.


Finally down to the entry. I didnt really think they were going to blow out stops as there weren’t any real swing highs that had formed (unless you go down to a 5 min chart) that were close to where price was. I ended up entring at the top of the asian range. I was also pretty confident that the CPP would hold as resistance.


2 positions [email protected], 1st TP [email protected], 2nd TP [email protected]. Gain of 1%.

Ive been following this thread since the start and just wanted to say that I think this thread has been takento a new level in terms of analysis and commitment from a group of people all with the same goal in mind!

Not only does ICT motivate me but also seeing all of you guys getting in here, posting things, helping each other out, giving honest and open feedback respectfully to each other - this place is a great way to spend ALL of my spare time!

Lets hope we can all achieve what we came here for! bring on 2012! Respect to ICT for everything.

Cheers

gbl83

Hello guys!
Just shorted Fiber today:
Market Structure down
LO
sold at 1.2940
took first portion(43%) at 1.2910 +30 pips
took second portion(57%) at 1.2858(daily S1,200% fib exp) +82 pips

I wish you Good Luck and Good Trading!

I love how the 3am mark on both pairs nailed the high in LO…It still amazes me how dead on this is…

Anyone else going long with the Fiber as it is making lower lows, where Cable is not. Although market flow is down, I’m a little concerned that next resistance is at 1.26-1.27. Hoping NY drives back up.


Look at it just touch that area of todays Asia high and the Open of the week, Tuesday was the high.
Very cool.
:o

Wally

I went long in LO in the OTE of OTE on Cable. Happened to be MS1 and I thought it’s a judas down cause SMT diverged long :slight_smile: Also thought it could be a fake move under the figure hehe Got out 70% at 30 pips as it was not moving the way I would have liked and rest got stopped out at BE+1. Winner is a winner, eventhough I was wrong for the day :slight_smile:

Dear ICT-

I understand that with the Asian Range video, you wanted to see if we could figure out for ourselves what you meant by accumulation of longs and shorts to get a direction for the London and New York sessions. As a noob, I’m going go out on a limb here, but I have a theory which I have been scrutinizing. Between the hours of 1900 and 2345 (or 1600 and 2045 for my fellow West-Coasters) there are 20 candles on a 15 minute chart. Whichever candles have the higher number, i.e. 11, 12, there is a high probability that is the direction the currency will take, with respect first to blowing out asian stops. If the candles are even, there seems to be a probability for search and destroy.

Once again, thank you for your shared knowledge. :42: