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

This is probably the number one question asked in this thread.
I suggest you start from the very first video and work your way through. Start from the first page of the thread and work your way through. There are many videos in which ICT demonstrates divergence

That 10 o’clock candle works a treat.
First time I used it. :slight_smile:

Wally

Classical LO Buy Template on Cable :slight_smile: Way to easy! hehe. Swaps above Asianrange 5 pips, drops down to a Daily Support, bullish divergence and up up away :slight_smile: Fiber stopped at weeks opening and put in an OTE there :wink:

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EU Just waiting maybe turning point area today,:60:


And hopefully it show here!!

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I think I missed the ‘10 o’clock candle’ video - would you be so kind as to direct me to that, Wally?

Regards

GLGT :41:

‘‘Trading the Key Swing Points’’ on live stream :57:

I think it’s “Trading the key swing points” on Livestream.
Basicly if u get it wrong on LO you can wait and use the 10am GMT candle open the same way as NY midnight open to get in sync with the pervailing daily trent.
For example today my sell limit above Asian high was wrong (demo and I don’t want to talk about it lol) so I waited till the open of 10, draw a line and bought below that line, 1.2740, took 1 lot of when it recoved my earlier booboo and now left 1 lot to see what happens.

Wally

Last lot off at R1. I turned into a chicken.

Well done. I noticed a bearish divergence occur at NYO as Cable approached a recent S/R level. Both fiber and cable had an OTE within an OTE for a short opportunity as well. In light of this, this could be a reversal (reverse market profile?) – or a major retracement – as both pairs have started to drop quite rapidly.

Can some one please explain this with graphs, pictures of divergence etc? Thank you very much.

Letting last portion of Fiber run till MR2 @161.8 projection, rest already off, also the portion which I reentered in NYO at CPP :slight_smile:

Dang it. Losing trade today.

I thought today was a tough day to get right. My bias going into today was short. I could have expected a long day on GU because we moved so far away from the weekly high in yesterday’s move (about 200 pips off the high). But the EU was within 100 pips of the weekly high, and still trading above the weekly open. My bias was short until both pairs got below the weekly open at least.

I got faked out today. GU formed a classic buy day, while at the same time, EU formed a classic sell day, although a little lagged. This morning, pre NYO, in my analysis, I anticipated that the GU was a fake out to get more people on short, run higher, then the price would move down. I saw the bullish divergence on the charts…and both pairs did run higher. I didn’t see a clear support area for why bullish divergence should be important. (somehow the weekly open line got deleted from my chart. must have had it selected accidently when I deleted a fib or something and didn’t see EU was respecting a SR level)

Anyway…took a short on EU at 1.2757 which was an OTE for NY high yesteray and low (78%), and LO high yesterday and yesterday low (also daily range at 62%).

Price did go down to 1.2713, but I was commuting and missed closing out 30%, and moving SL to BE. It looks like price moved pretty fast there.

In hindsight, I see what Wally point out in regard to the 10am GMT candle. Formed a nice retrace to an OTE from the LO low to the swing high. TOuched 78%. It appears the CPP could have been a good support line to go long in the NYO.

Oh well…I must admit…I was confused by what appeared to be simultaneous buy and sell day templates. But I “see” it now and the problem was me…not the tools.

UPDATE: Part of the problem was not letting go of my initial bias. But the EU pattern really faked me out.

But in hindsight…I could have had a profitable trade if I managed my trade correctly and closed a portion at 30 pips and moved SL to BE

Took the same losing trade today. Wrong OTE. :smiley:
Well, maybe there will be a nice spot for a classic London Close.

First went short on EU today at a level (can’t remember off the top of my head as I am at work) where I got stopped out -30 pips. Re-entered short on EU and GU and made 60 pips for EU on the retrace and 30 pips on the GU. Closed both positions. I realize I went counter-trend this time but overall +60 pips for the day. I also didn’t let go of my short bias… But lucky to have recovered.

I didnt recover from that :\ still waiting for someone to explain with graphs about todays bias :smiley: i guess i’m naive :))

Wow, I honestly thought the high of the week would stick to Tuesday/Wednesday :frowning: guess not…

Ah well, lesson learnt!


Was able to bank 32pips even when I made a less good trade decision,:slight_smile:

Wow with the fiber is right haha.

I feel like the banks were sitting by like ne other day and with the good euro news release they decided to run price up a little. The news was even better than expected and they decided to push the red button.

MIB - Tunnel Scene.avi - YouTube

Compare the lows on a 1hr chart. Big bullish SMT divergence. Thought today was going to be a down day but hindsight its pretty clear now. :34: Today will go into the trade journal as a learning experience for me.