Anyone in Ghana trading ICTs methods?
I saw the conflicting SMT also. I rationalized it that SMT is meaningful when you bring prior S/R into the equation. EU is seeing resistance at Fridayās Asian range. GU hadnāt reached the Friday Asian range. I saw EU being influenced by S/R, but not GU. Hence, would interpret as bearish divergence.
If we were near a support level, I would give credence to the bullish divergence.
ict is prodcasting right now, live trading lol:)
exactly the same trade i toke same entry same goal lol lol lol :):)
abasih, where is ICT prodcasting?
Hello Liftoff,
I have been lurking around this forum for the past 4months and taking my time to learn ICTās universal trading methods.So far so good.Still catching up with the videos though.So where are you in ghana?You wanna link up? I think it will be greatā¦
By the way i am in tema.
Let me know.
Thx Pippy, unfortunately Iām at work and canāt watch it. Is it going to be recorded?
OT: i was wondering how would i summarize todays market action and came up with that short video
My pleasure.
Not sure if its recorded, weāll see !
The cable didnāt tank today. The SMT divergence shows it didnāt make a lower low on my H1 charts before the LO last night.
Consider that and that today is the 3rd business day on the lower fractal. I also checked the monthly and lower time frames trinity and the cable didnāt break the trinity just yet
Thanks ambtn
Iām not suggesting that the GU tanked. Iām looking at the 15m chart and was using it to confirm an entry for a sell on the fiber.
At 11:45GMT, EU 15m candles were making higher highs while the GU was failing to do so. So I entered short on the EU.
I took my first phase of profit at 30 pips, and letting the rest mature.
As I monitored the trade, the GU started making higher highs while the EU wasnāt. Bearish divergence. Additionally, the EU was making lower lows, while the GU wasnāt. So higher lows.
Hence, conflicting divergence.
So the question I posed to myself as managing the tradeā¦Do I anticipate the bullish divergence or bearish divergence to win out. Since EU was retesting last fridayās Asia range, and with the higher highs that GU made, it was testing the low end of the asia range too, I decided to give credence to the bearish divergence over the bullish.
GU didnāt tankā¦but it did some 40-50 pips off the daily high at this point. So not tankingā¦but certainly not bullish either. I used it as a filter to stay in my trade. Not that Iām looking for a tanking GU as a result.
Alsoā¦Many of us here are treating the up move out of Asia as a judas swing due to the timeframe the move started. Interestingly, this is a 108 pip move and today certainly looks to be closing as an āupā day, where many of us are profitable being short. This āJudasā swing was a large move by most judas swing standards. Usually, on a sell day judas, there is ADR range left below the Asia session for it to be a bear candle. So by the bearish divergence, I guess it might be more correct to say I was anticipating the upward expansion to stop, not that I was, or am, expecting price to drop like a rock through the asia range because of the size of this upswing.
But very interestingā¦today will almost certainly be a bull candle. But a lot of us made money by being short.
Patienceā¦waitā¦sniper shot.
GLGT
Question on Sunday candles.
Right now, Iām demo trading with FXCM. They have Sunday candles on daily charts. Does forex.com demo have them?
Reason for askingā¦On the GUā¦Fridayās low was not breeched by Sunday or today. So I have a fractal appearing on the GU daily. however, If I didnāt have SUnday candles, it would be until tomorrow that a fractal could form. It seems Sunday candles could have a big impact on market structure in certain conditions.
How many other have sunday daily candles, versus none?
The Asian Session Indicator:
Is anyone else getting different levels from the Asian Session Indicator when they change time-frames (eg 1hr to 15min)?
Yea, that sounds about right ; )
Hey Mike,
good luck with the live trading. gives everyone like me the inspiration to stick with this and hopefully one day I can think about going live. Iām learning at a very slower rate then many others on here. But I dont mind.
Hope you dont mind me asking but how did you demo trading go and were you only trading the london open?
agreed.
What i was trying to insinuate (and did a bad job) was that there was no clear direction and the signs were pointing northbound, rather than southbound. If you do a trace from the low to the high, youāll find that GU is right now at or near the 75% OTE for a bullish trade.
Having said that, Iām a bit weary of going bullish on a trade with cable while Iām bearish on fiber.
Answered by a FXCM Rep check last page
http://forums.babypips.com/newbie-island/39634-pure-price-action-dummies-102.html
Did you happen to check what the USDX was doing at this time
I dont have that indi but would like it