For steps 2, which pair would you be most likely trading? The one who made failure highs/lows or the pair that has made higher lows (for bullish divergence) or higher highs (for bearish divergence)?
Regards,
Clark.
I prefer to pick the pair which made lower low (I look for long trade on this pair) or higher high (I look for short trade on this pair).
I actually forgot to mention that I did take a look at the SMT for any divergences, Iām trying to find it right now, but not entirely sure, last night it was quite clear. I found higher highs on one pair, and lower highs on the other, signalled regular divergence so I felt a short for the Cable would be ideal. (Iām pretty sure it was the Cable that made failure highs and Fiber making higher highs). I had an hourly line chart, but I just canāt find it right now!
Market flow was also short on the Cable at the time. Entry @ 1.6512, SL @ 1.6532, and TP was @ 1.6450, on a institution level, which has acted as a strong S&R level lately. Havenāt had time to take screenshots, been pretty busy lately.
Regards,
Clark.
So the āfailedā pair?
Hehe, not sure due to language problem.
e.g. GU makes lower low, but EU does not. => bullish divergence. I would pick GU and trade it long.
Vice versa for short.
Hey Alishijo,
How have your LC trades been? Iām currently taking a look at the Cable right now, I have a sell limit placed at 1.6560, SL at 1.6582, and TP at 1.6514. Entry is at the OTE of the most recent downtrend. And quite a few pips above the ADR High.
Edit:
This is if the Cable and Fiber were presently in a downtrend? And it signals a reverse to the long side? Or are you saying the pairs are already in an uptrend and bullish divergence is a sign of continuation?
Regards,
Clark.
Basically if the cable and fiber were presently in a downtrendā¦it signals a reverse to the long side.
Iām watching SMT on M15 and H1 mainly for intraday trading. It depends on timeframe, but it can also be a sign of continuation in my opinion. I hope Michael will share more about using SMT.
Ah, I see, that answers my question. Thanks Manta, I am currently just looking at the the H1 overlays, I think the 15M would still be too fast for my liking; looks like a heartbeat monitor haha.
The way I learned it in the BP school, was bearish or bullish regular divergence, and bearish or bullish hidden divergence. So I tend to classify divergence as either hidden, or regular.
LC set doesnāt look like itās going to happen, so I scraped that trade. I think Iām going to stay sidelined and protect my profits for the remainder of this week. =)
Regards,
Clark.
yeah, I know about this hidden-regular stuff, but I think it makes things too complicated.
I have the same short pending order like you. Mine is from 1.6565. I will see, tomorrow is my last trading day this month due to bank holiday on friday, so dont want to risk too much and protect my monthly profit as well.
I have a pretty moderate goal set every week, with the sort of RRR you can get out of ICTās trade setups, itās rediculously quick. Basically one trade a week is enough. =)
But best of luck on your trade Manta, and thanks alot for helping me out. =)
Btw, does anyone know what video the SMT was taught to us in?
Regards,
Clark.
EURGBP London Close Trade: +14 pips.
Yeah, going alright thanks. Not bagging the big pips like you, but the consistency is definitely shaping up nicely. 20 trades to date with only 3 losers and 2 BE. Tell me about NY openā¦do you go against market flow just like London Close? Think I might be able to get some NY open trades in soon.
Ali
Took the same trade as Alishijo.
Wanted to hold to the 1.27 extension but lost my nerve and exited at the CPP.
to hellogoodbye4201:
thatās what I meant when I said I thought Cable was going to āmoveā tonight lol 
Ive been bagging some serious pips on silver / gold lately, EURUSD has been trending well too! Gotta love price action analysis!
I think you have to go back to the original ICT thread for text (not video) on the SMT. But, as Michael clearly stated in that post, he was offering a preview ā not a tutorial ā on the Tool. He said to wait for future teaching on the implementation of the SMT.
Try here ā 301 Moved Permanently
Awesome, thanks so much Clint. Much appreciated. =) Would have taken me a while going through all the pages of the thread.
Regards,
Clark.
Haha! I lost my nerve even before you did. My ideal was the red line marked at 0.88746ā¦this was a 38% retracement of the daily pip range. My second option was the CPP. I took the third option! Got to work on keeping my nerve if I am going to start increasing the stakes.
Whoās all gonna be in the chat room tonight?
Already there