DT, I think you may find the rationale in ICT’s videos on Judas Swing and the Power of Three. Cheers!
I think he said that last week’s move up had run too hard.
After such a big move you can expect a bit of a retrace (at least)
That’s the way I see it.
What goes up must come down. Simple as that
I prefer to use more words lol
A question for Michael:
what made you choose the Fiber over the cable?
EDIT:
Never mind, the answer just became clear to me.
ICT I can’t thank you enough for all the amazing info. The birds chirping in the background was also soothing :P.
However, I couldn’t understand where the SMT divergence occurred in the video…?
I guess if you are expecting it to go down, then you know that the one going up is the judas.
But then again, most of us don’t know where its going, so we take the first move out of the Asian range to be the judas.
So basically Mike, I’m also looking for an answer 
I’m currently working on making my trading boring…
I guess that means it can’t be too exciting, and it can’t be too scary. It sounds kinda abstract at first… but if you just keep focusing on that goal, it can guide you to what’s really important… doing the same thing over and over and over and over over and over. You get the point 
i hope
hey I haven’t seen your weekly update in awhile. would like to see your progress.
That actually fooled me as well I had an order previously at the 3280 but I saw that swing down I and a minor stall and I lowered it just enough that it tripped my stop loss
My view, is that in a normal trending environment (lets say up, like we have been), you will see the judas down followed by the real move up. The problem is that we’re very “toppy” on the daily chart. We are in heavy resistance areas. They want to turn it around and nail as many people as possible. Price dips, gives people rope to hang themselves with, runs up, triggers breakout buy orders, short stop losses, then boom… other direction. Come to think of it, daily tops (assuming this is, in fact a top) are very seek and destroy-ish.
Judas swing is a stop-hunting expedition… were there significant stops getting tripped on the downside?
I think akeakamai is onto something with “significant stops” getting tripped. The 1.3280 level was a well established high resistance area, where you expect many people to look for shorts. I’m still a noob learning, so I could very well be wrong.
You lost me Michael…What is this video doing here and not in the “Millionaire Traders Guild” thread? It’s getting confusing. I understood that this thread was “closed” to start a new journey, right? Will all these videos be posted here?
TalonD, you should look for stop hunts at higher TF’s. A Judas normaly is a falls breakout outside the asian range to trigger some stops (buy or sell stops). The stop place you showed hardly have any resting stops. They are close to the 05:00 GMT opening price and well within the asian range. Today’s action of the fiber is such a stophunt move (hughe Judas swing), all the resting stops below every day of this week are blown away. From this point the fiber might go up again. SM was now able to buy cheap and trapped all the traders that was hoping of a continuation of the fiber. I believe it will move higher, but they wanted to have a bargain. We’ll see.
TP
You thinks e/u drops ?
yes I did intend to post it in the Guild…
You could have bought at 3250, took partial profit a 3280, moved stops to BE, and still had a winning day.