What I think will happen with GU is the classic LO Sell model.the golden gun said:significant price action developing. it is subtle, but cable breaks its bearish market structure, while its sister pair fiber is suppressed.
too early to carve out a setup based on this, but this is the type of thing that draws my attention to a pair.
Hopiplaka said:First take out the asian session low (and possibly the CDR low @ 1.6938), next to 1.696[0|5] ( give or take a few pips) to take out the NY session high of yesterday and STD2, and then down we go.
I think this is the ORO pattern. In Xmas 2012 ICT did a series of video's targetting specific setups. The ORO (overlapping reflection in ote ???) was also on the list, but it never came out.AusDoc said:Looking good so far....
The Asia session high was the first OTE of the day. I hope your plan keeps working out.
Hopiplaka said:But as I understand it, it is a OTE like you see and then a reflection pattern.
If you create a reflection from the asian high (put the 61.8% on it) to the low just made, the 100% comes in at 1.6965.
Clean out NY high, and a swing low in LO
AusDoc said:Ah yes, I see it. Thanks Hopi, I have never seen a reflection setup before.
Yes, I do have them on my fib like that.rod178 said:the Reflection Patterm is just the 1.41 extension ie (re the reciprocal of the ote 1/0.705)
the easiest way to id it, imho, to recode the fib tool or indicator to display the 1.41, as well as the 127 162 and 200. Never could understand the reason why ICT goes to the trouble of moving the fib tool on the ote to id the Reflection Pattern.
rod178 said:just a (more) probable point of price exhaustion/extension, just as the 70.5 OTE is a (more) probable point of price retracement. Either, in the right context, can be used as a point entry or exit, with some other confluence(s)
I often use it to find the confluence of a Key SR level and the Judas swing.AusDoc said:Succinct and effective. Many thanks Rod.
Hopiplaka said:I often use it to find the confluence of a Key SR level and the Judas swing.
See yesterdays short, which was the reflection pattern aka Judas swing into a KSR
rod178 said:There is an example on today's Cable
pull a fib from yesterday's low to today's high (CDR high) before the Asian Range
the 1.41 is the AR high. It then ran out of steam and dropped to one deviation below the CDR low.
I'm now wondering whether or not a short continuation at the CDR high/70.5 fib (just under 16950) is worth a punt. Lots of News today to push price around.
Hi Golden Gun,the golden gun said:Hey rod178, your mini lesson on recriprocated OTE does make way way more sense than how ICT used to demonstrate it. I've always used the 1.27 & 1.62 extensions, with the little bit of understanding that 1.27 is the square root of 1.62. I thought that was all there was to it though.
But really the 3 belong in a set, just like the OTE levels 0.618, 0.702, and 0.786
You kind of blew my mind cause now I realize the math behind it:
1/0.618 = 1.618
1/0.702 = 1.425
1/0.786 = 1.272
:cheers:
There is also a reflection from the low of yesterday to asian range high. 200% came to 1.6912 = STD3 level = Support lineAusDoc said:Ah, a reflection!? The 142 (rounded for label) identifies the OTE entry today and the target level.
Hopiplaka said:There is also a reflection from the low of yesterday to asian range high. 200% came to 1.6912 = STD3 level = Support line