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

I can’t seem to find a video explaining the London open tactic. Anyone knows if such a video exist?

Seems about right. Looking at Cable’s COT data the commercials added lots of shorts this week which means we are making a high. This doesn’t mean the high has been made, it is a high is being made. Friday could be the high, or the high could be made this week, next week, next month, year, whenever. Seasonal tendencies show the Cable typically makes a high in the last days of April or very early May before heading south for about 2-3 weeks before it typically resumes the up trend. I’m pretty sure Cable’s most recent 12mo extreme was net long meaning a significant low in the market was made and we should expect higher prices so I would probably be looking for a correction in the coming weeks before a resume of the up trend.

Just a thought but Cable has a little more room to move higher before hitting the .786 level of the daily OTE. Using the power of 3 on the weekly I’d say we could possibly expect price to move a little higher Sunday/Monday/Tuesday, moving into the OTE then perhaps starting the retracement. .6320 and .6420 look like good levels and are also the .786 levels off the daily.

Wiltons where did get that COT chart and data? It looks cleaner and is probably faster than what I use

Do’h never mind it was staring me in the face

I’m a noob so take this with a grain of salt. CHeck out the USDX chart on the daily. We are in a kill zone and getting really close to the 161.8 extension if you pull your fib on that small move up. This extension lines right up with some really good areas of support and resistant. Here are a couple graphs. Netdania fibs are kinda crappy but you get the idea. Any comments are welcome. I would like to know how relevant this might be…


and the extension:


USDX is in a consolidation phase with the major resistance break which will become clear only when the Monday market volatility decides the real trend :slight_smile:

Flagship of May’s Trade Plan Development Series… one week away. Next Sunday part 1 online in our new thread…

[B]GLGT [/B]:57:

Well for me the week started out good, I was feeling comfortable with my simple trade analysis & had a sense of progress that I haven’t experienced before, then came Friday… & I turned into a little :36: which resulted in :46: to my monthly gains!

Psychology seems to be my "Achilles Heel"
All week I’ve been stalking the killer short (yeah I know it’s been a bull run lol) It seems all the talk influences me quite a bit, I tend to jump in on trades thinking this is “The One” On Friday I came home from work 15 mins before London Open,very tired, didn’t do proper trade analysis & just went loose! I may as well have been drunk, just amazing how it can get under your skin & all the waiting finally drove me to desperation!! I really had this feeling that if I went to bed I’d miss the setup I’d been waiting for all week…
As a result I left two trades open, broke all the rules & when I got up Sat morn the markets had closed so they’re still there… :rolleyes:

This has been my biggest lapse in discipline for a long while but I’m not really that surprised as I’ve been pretty tired with work. Hopefully in a couple of months when I’m off I’ll get back to normal. Looking forward to summer!

Oh, my best trade was a modest 38pips short Cable, wasn’t very well managed but still a profit is a profit.

Cheers for the feedback - still working through the material and haven’t done the power of three lesson yet.
Perhaps we’ve got a bit more to run up yet before it’s time to “sell in May and go away.”

I’m with you on that one - there is always room to go higher still, and the last thing I want to do is make the mistake of jumping too early on the bus heading south.

Thanks! I’ve been looking for that for ages! :wink:

Liking the vid this morning ICT, a reminder to keep looking further afield on those 15min charts. Looking forward to the Trade Plan series.

USDX looks interesting from last week, broke the triangle with an ‘outside day’ bar on the friday with a low near the close but there are signs of positive divergence on the Force Index (Elder indicator) albeit still looks weak. Keeping a close eye on it.


look at the Judas video and the scalping 20 pips per day and you will basically have most of the LO tactic.

Hat-Trick,

Thanks for the hints on where to find the LO

Thanks for the feedback ICT, eagerly awaiting the video :slight_smile:


The Exclusive ICT Trade Plan Development Series begins this Sunday.

Part 1 of 4 installments in video tutorials.

:57:

Damn i need more screens… :slight_smile:


" All the gear but no idea" comes to mind :slight_smile:

Squidge, I dont think you’re taking this trading thing serious enough LOL

nice set up man, I like all the notes on the wall too

I have uploaded a RAR-archive containing all the ICT Indicators I’ve found in this thread (26 indies).

InnerCircleTrader Indicators.rar - 4shared.com - online file sharing and storage - download

[B]Some remarks:[/B]

  • You have to add both Market Flow indicators to your chart if you want them to work. And don’t rename them.
  • The indicator with the name “ICT Traders Trinity” is the weekly one, the other two Trinity’s have a description in their file name -> “ICT Traders Trinity Daily” & “ICT Traders Trinity Weekly”
  • The indicator “ICT Daily Pivots Shifted” will show you the current and the past Pivots
  • The indicators “ICT GMT Pivots” and “ICT Macro Pivots” will show you only the current Pivot Points

And finally, thanks to the great people that have written those indicators!

Has anyone a torrent containing most of ICT’s old and now misssing video’s.

My email is at the listed above

thanks

Can’t wait, but what is that on your screens? Doesn’t look like anything you’ve been teaching us?