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

I like this if we can get up to this level. Will be watching this level and if we get up there then will be looking for OTE within an OTE.

Incredibly grateful to have found this thread. Big Thanks to ICT for putting it together!

I have a quick newbie question. Just watched the vids on support and resistance. Prior to watching the video, I was drawing them at ā€œlogicalā€ (meaning eyeballing the chart) levels. It seemed a little arbitrary.

Does anyone plot S&R with the highs and lows of yearly, quarterly, weekly, and daily? And, have you found this more effective than placing at what you ā€œthinkā€ are S&R? The reason I am asking is that I have seen ICT do both.

I am looking to swing trade so I am paying attention to the longer time frames.

Any help would be appreciated! Also, this is my first post in ANY forum so if I am breaking some sort of protocol, I apologize ahead of time. :21:

I canā€™t find the pivot indicator including weekly and monthly levels. Is it not posted? The one on the first page has daily only. Is there anyway you could post this ICT?

Yep all that and 3 day, 3 week.
I think its best to start each new day with a clean sheet and then mark those lines off that are whithin approx 300 - 500 pips of current price, otherwise you end up with more lines than candles.

ICT_Indi-stuffv2_1.zip (128 KB) a zip file with lots of relevent indicators for you.
WeeklyPivots amd piv_monthly.

Wally

Has anyone taken some time aside and watched Fiber vs the USDX on shorter time frames?

Yesterday I spotted divergence between them and posted it on the forums here, but it wasnā€™t long before the USDX caught up with Fiber and the divergence was gone.

Just now while watching the Asian session the Euro had broken through the highs of 2 candles (15 min chart) put in a couple hours before the Asian started, however the USDX had not broken the lows of those candles on itā€™s chart. Soon after, those lows were broken, and the divergence was again gone.

Iā€™ll be watching these 2 closely to see if the USDX consistently lags the Fiber, or if it is just a couple of cases where this has happened. If it does lag, that would be some very easy money made off of scalping with very tight stops.

I have taken advantage of the lag between Fibre and cable, but I can never remember if one goes before the other
consistently. Last night I think the cable dropped first, made a sudden move, that confirmed my entry for the fibre.
I knew it had to catch up.

With regard to highs and lows, what I find works is keeping a separate profile with Hordaneā€™s High/Low indicator on your charts. I change the settings to the highs and lows I want to see, and change the text colour to BLACK. This means the labels donā€™t obscure the view, and you can easily find out what the particular highs and lows are by running your mouse across the line. I still go through the process of finding major S&R manually on the Daily chart, but rather than trying to name these levels with period separators etc, I can flick to the other profile and quickly find the relevance of that level. On this same profile, you can also manually add quarterly highs and lows. If you have missed a level through the ā€˜arbitraryā€™ manual search, it wonā€™t fall through your net by looking at the indicator.

Regards, and thanks again to Hordane.

Ali

Canā€™t believe I missed this one! Great indicator. Used your tip too Ali, Black text with its own profile. Set it to 3 Previous periods (very impressed with the ability to do that btw), and just track Day/Week/Month. Gives you excellent potential S/R levels in just a few seconds. Brilliant creation for the ICT community :slight_smile:

Thanks Hordane + Ali for the settings tips :wink:

and thanks to [B]everyone[/B] that took the time to put ICT concepts into indicators!

well, looks like you have your answer from the man himself: Fiber Review 02_14_12on TheInnerCircleTrader - live streaming video powered by Livestream
now, Iā€™d love to see you creeping back to the hole you came fromā€¦
thanks for honouring our thread :35:

Took a trade for the cable during LO at 1.5729:

  • 4hr bearish
  • Sell zone
  • 1hr OTE and S/R level

50% taken +30pips ā€¦ now letting rest run

Shorted the fiber at 3153.

1/3 off at +20 pips, SL at BE.

second third off at +75. SL at +20

Shorted at 3159 myself at NYO. Aiming for S2 for final TP.

Caught a 100 pip cracker today from 1.3180 to 1.3080! :stuck_out_tongue: Itā€™s been too long since I last got those magical three digits!

Gratz to everyone shorting Fiber, I also shorted Cable at LO for 1% risk +30 pips.

Overall today:
Cable +30 at 1% or +15 @ 2% (my usual risk level).
Fiber +100 with half off at 30, rest off at 100 = +65 pips @ 2%
Total gain: +80 pips @ 2% risk or 2.6 R:R

Gj guys, I didnt even look at the charts. Had two wins this week. Just waiting on ICT to get back, and enjoy time with the gf and sleep. I look for this thread or the new one to start killing it soon.

Final third off at +50. +5.6% on the day.

I finally figured out that I am terrible at trading LO. When I first started trading these concepts I was almost trading LO almost exclusively. I lost 12% of my account during that time (about 2 weeks). Starting last week, something clicked when I was watching the charts during the NY session. I decided I would skip LO for a while and see what happens. Since then I made back all my losses and am up 3% on m original account balance. 4 trades, 3 winners, 1 loser, and the monster winner I missed by 1 pip yesterday. Hope I can keep it up. Thanks a lot ICT.

Still holding my LO cable short at 1.5729 after taking 50% off. Aiming for TP2 of 1.5644 so will see what happens till 13:00 EST.

Interesting, I have only been focusing on LO myself so far and havenā€™t really looked at NYO yet due to my availability to trade it. Good you found a setup that is working well for you