lolz, gamer traders in da haus
That makes me 3. LOL. XD
Alishijo, based on one of ICTās more recent PTC entries, I believe the Cable may be looking to retest the 1.6270 level (daily), although 4H and 1H show bearish market flow. I think I will stay sidelined for now unless London Open shows something tradeable. =)
Regards,
Clark.
Hello ITC. Let me add my kudoās to those before meā¦ ādittoā. The Thread/Video/Feedback combo is especially nice; in my young experience unmatched!
I joined your thread back in October but sadly have not followed too close, but for the videoās. So Iām reading the head and tail now trying to catch up and even started your original thread. Iām pumped!
I wonder about your charts in the vidās. You apologize now and again saying you know they are hard to seeā¦ why not use some colors with contrast?
OK, also trying to up my post count, so please bear with me - hehe
Thanks Clark. Currently monitoring the 1.6120 level on Cable. Fiber touching itās CPP so letās see if we get some divergence on the SMT ahead of Cableās MR1 (ICTās new PP Calculator Daily bias tool).
Currently, I am only monitoring the Cable. It has just broke through the 1.6120 level (seems to have found resistance at the 1.6150 institution level), and just a bit past the 79% retracement from previous dayās high low. Iām not 100% sure of this trade, since the Cable had been a bit trickle lately, so I entered a short order on my demo. Letās see how it does. 
Alishijo, what are you using for the Cable/Fiber overlays, AKA SMT, I canāt seem to find any chart that can do that. Something free would be nice. 
I am still sidelined. Canāt get a hold on it today.
My broker is non-MT4 and it allows me to overlay Fiber. I use Alpari MT4 for my analysis, then go to my broker platform for a last check on SMT before pulling the trigger. Sorry I canāt help you with that.
Why donāt you try searching for the Overlay - MA indicator? I tried it out and the MA function looks to be okay.
Morning guys Iām flat as well with an alert set at 1,3730 on fiber (donāt fancy a pending order) looking to go long.
As usual Iām missing something, where can I find the SMT and why is is more useful than just looking at EU/GU for preferential trade selection?
Well, Iām done with work for the day
Just got off this cable long. Entered at 1.6103 (confluence of CPP, 1.61 figure and 62% fib retracement), exited just above r1 at 1.6176 (just below .80 institutional level). Looks like itās gone on to hit the 5 day ADR and challenge 1.62, but Iām pretty happy with 73 pips in ~30 mins lol
http://i1102.photobucket.com/albums/g452/alienpipmonster/cable-long.jpg
(Linked because image embedding not working ATM)
Cheers ICT - This stuff is legit!
EDIT: Just wanted to add a thanks for the discussions of the ābigger pictureā (esp the importance of the daily TF) in your recent videos, ICT. When we know which way the train is going, itās pretty easy to hitch a ride (instead of getting run-over!). For this trade, it was clear cable is in an up-trend on the daily, as was the market-flow.
Hi Guys,
Wanna share my first trade of the week This is a Fiber trade for a change (London Open).
Basically, I took a look at the 4H and 1H timeframe to get my market flow bias. It looked to me like price had bounced off support and was looking to retest the 1.3820 high. On the 15M timeframe, I saw price had breached a swing high at 1.3760 and then retraced to an optimal entry. The OTE also happened to coincide with the 1.3760 institutional figure as well as the MS1 line of the previous Friday.
Price proceeded to trade higher blowing through the swing high at 1.3780 leading me to believe that it will not stop until the next significant high which was 1.3820. This also happened to be exactly where my swing projection pointed to (as you can see from my fib). Took 30% off at 1.3785 and then took the rest off at 1.3820 for a 60 pip profit.
EDIT: I chose to remove 30% at 1.3785 even though this was not yet 30 pips as this was also a swing high as well as last Fridayās pivot line. I was worried that price might reverse there so I locked in some profit earlier.
I just wanna give a BIG THANK YOU to ICT. My trading has improved dramatically. I donāt claim to be a pro trader or even an experienced one. With only 4 months of experience under my belt, Iām quite the newbie. But ICTās lessons have really helped me begin to understand why price moves the way it does and where it will move.
I used to just follow an indicator system and not really know why price would fluctuate the way it does. Price would often do the exact opposite of what I thought it would do.
But now, I am beginning to see the logic behind these moves as well as project where price would likely go. Naturally, I am still wrong many times but even when Iām wrong, I understand why price moved in that direction.
So thanks so much ICT! I really truly believe that you and your lessons have shaved off years on my forex education.
Hi Jaroon,
The SMT is actually just an overlay of the EU and the GU. The problem is finding a good MT4 indicator that will let you see them in line chart format. So far, the best Iāve seen is the Overlay-MA indicator. Not sure if someone has found something better.
I also took a trade this morning on the cableā¦
Lol, love the title of this thread.
Remind me to screw my head on before checking in on Monday mornings :mad: All price action was obviously pointing up this morning, but I was temporarily bamboozled by the new PP Calculator:eek:
This, Jaroon, is how the SMT can get you into a nice trade. Would have picked up the Fiber around 1.37 level, even before the open of London session:
SMT.jpg picture by Alishijo - Photobucket
This is a 1 hr chart. Cable turned up while Fiber was still heading south. That divergence would have suggested Fiber was going to follow suit if all other analysis was in line.
Thanks Alishijo great example.
Iām going to try and stay flat until London close which is looking promising (cable) if price hovers around my R2 (1.6232). Hopefully itāll come back into to the daily range, TP a bit above R1, what do we think?
Well my resolve lasted about 3 minutes (new record!). Iām short at 1.6234. Not the perfect entry but with several strong resistance levels in the next 40 pips up, Iāve reduced my normal position size to allow a 40pip S/L and jumped in the water.
Well, I am interested to see what happens with the NY open first. Will it stick around R2, or even come off, or will it gun for the highs? Do you see a lot of implied resistance around this level? (Todayās R2, Fridayās R1 and Thursdayās Central Pivot all line up for me).
London close trade would be my preferred option from here on in though. Iād like it to gun for the highs, retrace 20% of itās daily range, then put in an Optimal Trade Entry set-up before moving back into the ADR.
Yes as it looks now London close might be the one to wait for but if NY brings a change in sentiment Iāll try and catch a few pips. Iām watching the charts for a while as I donāt have an exit strategy. If it was London close R1 would be my target but with the overlapping sessions Iād better keep on my toes:)
Caution to the wind, hey?! Donāt know if they would take it this close without testing those highs. Could just be in consolidation for a further move up. 50/50 at this point. Fasten your seatbelts!
P.S. Beware a fake-out on the previous high at 1.6274. The Market Makers may want to pick up those juicy S/L orders
Hey guys! =)
Took two trades with the Cable this morning. One scalp and one swing trade. =) Made up for the losses last week, hopefully this will take me back on track for my goals. =)
Both trades were taken during London Open. My first trade was a scalp of about 34 pips. Price had reached the 79% retracement level from previous days high and low, so I entered a quick short, aiming for the 1.6100 institutional level. I quickly exited that one, as I had realized price has a bullish sentiment, and was aiming for the 1.6270 level, also, I noticed that there was a couple small range days, so a big ranged day was bound to happen soon.
Second trade was almost at the same place as the exit of previous trade. Price had reached another OTE from a recent swing, so I went long this time. Scaling and exiting as ICT had taught us. =)
Reached my weekly goal of 85-100 pips/week on Monday, now I can focus on school, AKA game, for the rest of the week. =)
Trying to upload screenshots right now.
Scalp:
Swing Trade Entry and Exit:
Regards,
Clark