What Every New or Aspiring FX Trader Wants To Know

I expiremented and found the Asian open to Asian open seemed to be more relevant for weekly and monthly floor pivots to me but need more back testing to hang my hat on them.

Thank you MCAWally, I’ll take a look at those pivots. :slight_smile:

I live in the same country and i can trade this method.
Asian session opens around 11am our time, so if you can snick some trades in at work thats fine, london/euro starts firing up from 4 to 8:30pm, and then if you can stay up late you’ve got the new york open which is around midnight.

The pivots work well throughout the 24hours, and the act as buy and sell areas, and as targets for taking profit. IF price is trending higher or lower a good place to get in is at a retest of the CPP or the previous days high or low. You are not always just selling the previous day high and buying the previous day low,and price never travels in a straight line

does anyone have the [I]correct[/I] pivots for today? I tried like 3 different Pivots and all 3 were different, one including the one found on BP site. Just looking to confirm one of the 3 sets so i know which one to use for future reference.

Hi Hellogoodbye,

My dailies are

1.5347 R2
1.5246
1.5145
1.5094
1.5042 Central Pivot
1.4941
1.4840
1.4789
1.4737 S2

Yes, it is visible today. :slight_smile:

[B] Originally Posted by InnerCircleTrader[/B]
[I]These are fractals or miniswings the Market Makers are currently dealing in. The range of the short term fractals provide clues as to where the direction could move.
Short term S&R levels is an easier way of saying it…[/I]

You can see it on 5m what the Market Makers are doing.
:slight_smile: It’s almost like you are sitting at the dealing desks of the Market Makers.

Hi Used,

What’s visible today? Can you explain what you see on the 5m chart? Thanks.

Oh Rei of little faith…

Today’s S1 was tested and we see a Bullish Macd divergence and early session low swept under 1.4947 (S1)- take a look at your Intermarket Analysis tool I introduced to you yesterday… it posted a bullish divergence, this coupled with a MS1 pivot at the figure 1.50 area presented a 50 pip swing to the upside… which also fullfilled a micro inverted head & shoulders pattern, basis 5 minute.

I had a Order to exit at the short term resistance level at 1.5010 area to reverse my long to a intraday short… looking for further downside today as we tried to break above the 1.50 figure and failed… look at the 4 hour and daily charts for the rest of lows as a possible swing trade objective.

The chart below details the Dealing Ranges and entry and exits based on the commentary above. Presently I have a short from 1.5010 and resting Protective buy stop @ 1.5040… looking for S2 as daily intial objective.

If stopped out… I still end the day with a modest gain based on the short term pop from the early lows.


my pivots indicator are about 10 pips lower than those. I need to calculate manually and figure out how to adjust this indicator so it’s correct.

How do you trade with a line chart?

Hi ICT

What a great thread. You are being very generous with your time and information. I appreciate it.

Overlaying the line charts & looking for divergences is a very clever tool. Although I have always kept an eyeon EUR/USD & GBP/JPY for trading Cable, I have never thought of doing what you do. Thanks! The divergence you mentioned this morning was on the 5 minute chart, and the main chart you demonstrated over the weekend was a 1 hour chart. Do you have several time frames open at the same time and just look for a divergence on any, or do you have specific times/rules for looking for a divergence on one of them in particular?

I think u’ll find that unless you’re on the same server as ICT your pivots will always be out by a bit.
I managed to get as close as i could to ICT’s and then got a MT4 indicator called TzPivots to show exactly the same lines so it’s definitly different servers will show slightly different data making everyone a bit out with each other. :frowning:

Btw, I got that inverted H&S early today with the divergance :slight_smile: Another big thank you to ICT for making me look out for patterns again… :cool:

I went through this thread and picked out ICT’s key teaching posts. I found 20 of them, out of the first 650 posts on this thread.

I skipped those posts from ICT which are specific answers to specific individuals. And I skipped all the posts from everyone else on this thread.

So, if you’re trying to find exactly what ICT said about a particular subject, you might start your search here.

[B]Inner Circle Trader’s key teaching posts:[/B]

Post #27 - My trading routine
http://forums.babypips.com/newbie-island/32915-what-every-new-aspiring-fx-trader-wants-know-63.html#post176481

Post #33 - Key support and resistance levels
http://forums.babypips.com/newbie-island/32915-what-every-new-aspiring-fx-trader-wants-know-63.html#post176501

Post #123 - (directional bias)
http://forums.babypips.com/newbie-island/32915-what-every-new-aspiring-fx-trader-wants-know-54.html#post177673

Post #159 - (recap of 3/11 price action, and pivot analysis)
http://forums.babypips.com/newbie-island/32915-what-every-new-aspiring-fx-trader-wants-know-50.html#post178065

Post #177 - (brief recap of first week)
http://forums.babypips.com/newbie-island/32915-what-every-new-aspiring-fx-trader-wants-know-48.html#post178187

Post #211 - Professional pivot point concepts for forex trading
http://forums.babypips.com/newbie-island/32915-what-every-new-aspiring-fx-trader-wants-know-45.html#post178577

Post #215 - Think like a market maker
http://forums.babypips.com/newbie-island/32915-what-every-new-aspiring-fx-trader-wants-know-45.html#post178577

Post #238 - The $ stops here
http://forums.babypips.com/newbie-island/32915-what-every-new-aspiring-fx-trader-wants-know-42.html#post178636

Post #308 - My only action (recap of 3/16 trade exit)
http://forums.babypips.com/newbie-island/32915-what-every-new-aspiring-fx-trader-wants-know-35.html#post179031

Post #344 - (untitled chart analysis)
http://forums.babypips.com/newbie-island/32915-what-every-new-aspiring-fx-trader-wants-know-32.html#post179270

Post #400 - (untitled market recap, ref: GBP Weekly Futures)
http://forums.babypips.com/newbie-island/32915-what-every-new-aspiring-fx-trader-wants-know-26.html#post179502

Post #401 - Running your own numbers and why
http://forums.babypips.com/newbie-island/32915-what-every-new-aspiring-fx-trader-wants-know-26.html#post179503

Post #404 - New reaction levels
http://forums.babypips.com/newbie-island/32915-what-every-new-aspiring-fx-trader-wants-know-25.html#post179517

Post #429 - A professional approach to stalking trade setups
http://forums.babypips.com/newbie-island/32915-what-every-new-aspiring-fx-trader-wants-know-23.html#post179724

Post #474 - (untitled market analysis, 3/19)
http://forums.babypips.com/newbie-island/32915-what-every-new-aspiring-fx-trader-wants-know-19.html#post179940

Post #482 - Picture’s worth a thousand words
http://forums.babypips.com/newbie-island/32915-what-every-new-aspiring-fx-trader-wants-know-18.html#post179964

Post #503 - The cable breakdown, broken down
http://forums.babypips.com/newbie-island/32915-what-every-new-aspiring-fx-trader-wants-know-14.html#post180044

Post #551 - Show me the money (The Smart Money Tool)
http://forums.babypips.com/newbie-island/32915-what-every-new-aspiring-fx-trader-wants-know-11.html#post180327

Post #569 - Cat’s out of the bag
http://forums.babypips.com/newbie-island/32915-what-every-new-aspiring-fx-trader-wants-know-9.html#post180354

Post #617 - Patience pays
http://forums.babypips.com/newbie-island/32915-what-every-new-aspiring-fx-trader-wants-know-4.html#post180481

No doubt, this list will grow.

[QUOTE=MCAWally;180751]I think u’ll find that unless you’re on the same server as ICT your pivots will always be out by a bit.

MC and Talon, please don’t take this the wrong way, I am not trying to be an irritant or be insulting or start a fight. However while use of “server” in this context is basically correct, a more accurate term would be Hub.

Each Spot Currency Broker has its own Hub of liquidity, this would include the Brokers Liquidity, Retail Trader Liquidity, and POSSIBLY Bank Liquidity. This is why you will see different Data from different brokers, some have a lot of retail traders and this can distort prices on the HUB, more panic, higher highs, lower lows than lets say an institutional feed that only connects with a Broker and a few Banks.

Think of it this way, a basic price feed is a combination of COMST and Bloomie, add to this whatever retail liquidity, and then maybe a bank feed. Now what you have here are just quotes, liquidity is a different question.

So bottom line is, you have to set your platform to your Hub, levels indicators etc. While my levels differ from ICT, I can still use them on my Hub. So MC is correct, unless you are on the same Hub, you may not have the same levels. But they still will work.

The Ever Pulling Back The Curtain On The Great OZ VIPER

A little off subject here.

I need help with the overlay chart mt4.

I downloaded the overlay indicator from Taldon D,
I placed the indi in expert/indicators.
I restarted mt4
I than clicked and draged the overlay indicator from the navigator to my chart.
There is a box with settings that can be changed.
I changed the USDJPY to EURUSD and all other settings are standard.
I clicked ok.

Yet nothing happens, could someone help me with setting up this Indicator please?

Thanking you in advance

hmm, some of them match up kind of close, but others are over 20 pips off, could be broker difference maybe?

ICT would you mind sharing your pivots for today?

In a nutshell

Do not trade short when the line points upward. Do not trade long when the line points downward. When the price line (orange) meets a pivot line, trade in the direction of the price line.

GBPUSD, EURUSD, AUDUSD, and NZDUSD are the USD quote pairs that I can trade. AUD and NZD are minor in comparison to EUR AND GBP.

Just got back to this thread after a few days away and, wow,so much has happened. Really good stuff again ict.

I am struggling with the whole chart overlay thing, can anyone post an indicator that will show both gbp/usd and eur/usd as line graphs on the same chart, just can’t seem to get it to work with the ones that I have found.

Thanks in advance.

Trade how you want, don’t confuse things for others.

If you have something this simple on just two closely related pairs… why would you want to look for more pairs to distract you?

Narrow your focus and be proficient with what works and you won’t need to have more on your hands, than you’re capable of managing properly. Less really is more folks… you can make all the money you ever need or want just watching one pair.

Funny how you quote this, but then ignore it.
I don’t think the golden goose has sisters or brothers…