Currency Block Formations & Projections


SLT

Official GDayFX.com Rep
I am finding that fast extrapolated moves, after Block creation breaking market structure, are the blocks that are making price the most sensitive to them. here is just one 30min chart from Friday, keeping in mind price was coming down from a weekly block level

PS: i know i put a few words in the tittle, its for google hunters looking to trade forex, to find
FXgears when the forex world gets a sniff of what Block Trading might be...
 

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jack

Administrator
Staff member
Re: It's a Block Out - The Forex currency Block Trading concept by ICT

Think this belongs in the systems and methods area.. moving. :)
 

SLT

Official GDayFX.com Rep
Re: It's a Block Out - The Forex currency Block Trading concept by ICT

Thanks Jack...

Blocks made, prior to fast moves
 

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jack

Administrator
Staff member
Re: It's a Block Out - The Forex currency Block Trading concept by ICT

"blocks" are kinda like expansion vs contraction periods in price.. or range vs breakouts... or if you add a time element: session opening/lunchtime/closing/etc.. range breakouts..

All slightly different, but all having overlapping common elements.

What's ICT's slant on it?
 

sqa

Village Scribe
Re: It's a Block Out - The Forex currency Block Trading concept by ICT

Jack said:
"blocks" are kinda like expansion vs contraction periods in price.. or range vs breakouts... or if you add a time element: session opening/lunchtime/closing/etc.. range breakouts..

All slightly different, but all having overlapping common elements.

What's ICT's slant on it?
Knowing where they are and where price will react again. He's got an extra advanced way to do it that I can't really explain quite yet, as there are actually very specific signs when it's happening in real time, but that will take ICT a bit more time to work out for teaching. (If anyone else was in that webinar, you know the "popping" parts ICT was highlighting)

It's use, at the moment, is really powerful Intraday, given the market. In trending markets, you can get a while before returning to major ones, but they are on every time-frame. I've highlighted a trade I took where the USDJPY spent all of 15 minutes at the level, before dropping 40 pips.
 

SLT

Official GDayFX.com Rep
Re: It's a Block Out - The Forex currency Block Trading concept by ICT

RE: previous post, there was a 60 pip reaction...

Here is todays Block chart, same Symbol
 

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SLT

Official GDayFX.com Rep
Re: It's a Block Out - The Forex currency Block Trading concept by ICT

EURNZD - could be some opportunity here, the black lines 1 hour blocks, the shaded areas 4 hour
 

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SLT

Official GDayFX.com Rep
Re: Fiber

Fiber - it does not get much better than this does it, peeps.
I can see people are catching onto Michaels set ups pretty well, including me.
So i created a saying for myself

I can only trust it, if i see it. If i cannot see it, how can i trust it?
 

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SLT

Official GDayFX.com Rep
Re: It's a Block Out - The Forex currency Block Trading concept by ICT

I am trading EURJPY atm, as it is working some crazy levels, inside the "monthly" block that it is currently in. look at the reaction levels all round. This is my favourite pair atm.
The Monthly block has already provided over a 4000 pip sell off, from 2009, then returned. The return has seen price go beyond this Monthly block now, so i am unsure where price will head from here, i will be eyeing off sell set ups and buy set ups together.

Note: NZDJPY chart, second favourite, really watching to see if this monthly block will have some impact
 

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SLT

Official GDayFX.com Rep
Re: It's a Block Out - The Forex currency Block Trading concept by ICT

THB - twelve hour block break out, after a channel correction

2 candles per day!

Pound could be just getting started, something needs to correct the Dollar, in my view
 

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AusDoc

Well-Known Member
Re: It's a Block Out - The Forex currency Block Trading concept by ICT

GdayFx said:
THB - twelve hour block break out, after a channel correction

2 candles per day!
Nice chart. Are you using MT5?
 

SLT

Official GDayFX.com Rep
Re: It's a Block Out - The Forex currency Block Trading concept by ICT

AusDoc said:
Nice chart. Are you using MT5?
Thanks, Yep MT5
I prefer the time advantages it supports indeed
 

AusDoc

Well-Known Member
Re: It's a Block Out - The Forex currency Block Trading concept by ICT

GdayFx said:
Thanks, Yep MT5
I prefer the time advantages it supports indeed
Do you mind saying which broker you use? I found MT5 difficult to find in Aus. I trialled Vantage FX but didn't like their MT5 spreads. I also am attracted to the wider range of time frames. I have created them in MT4 as offline charts but was never happy with this workaround.
 

SLT

Official GDayFX.com Rep
Re: It's a Block Out - The Forex currency Block Trading concept by ICT

AusDoc said:
Do you mind saying which broker you use? I found MT5 difficult to find in Aus. I trialled Vantage FX but didn't like their MT5 spreads. I also am attracted to the wider range of time frames. I have created them in MT4 as offline charts but was never happy with this workaround.
For the MT5 charts, i use a demo account through ]https://www.ironfx.com/en]

MT5 download, probably have to open a demo account with them, to get it going https://www.ironfx.com/en/trading-platform MT5 metaquotes download
 

AusDoc

Well-Known Member
Re: It's a Block Out - The Forex currency Block Trading concept by ICT

Thanks Dan. I'm not familiar with them. I'll take a look.

Cheers mate. Have a good weekend!
 

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