Hopiplaka's Journal

Discussion in 'Trading Journals' started by Hopiplaka, Mar 13, 2014.

  1. Hopiplaka

    Hopiplaka My thanks go out to ICT - the life changer

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    Just continuing to play with trading view.

    I had an incorrect long EU scalp setup which was stopped out:
    https://www.tradingview.com/v/JVTCU6Uf/

    Later that day I went short in line with the downtrend during NYO which hit the take profit level
    https://www.tradingview.com/v/a10sX0wJ/
     
  2. Hopiplaka

    Hopiplaka My thanks go out to ICT - the life changer

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    It's been a long time since I used the B2OB concept :)

    I was reading another thread (http://fxgears.com/forum/index.php/topic,407.msg9491/topicseen.html#new) about opinions to short the USDJPY so I decided to take my spin on it.
    Lo and behold a nice B2OB setup

    [​IMG]

    As a reminder: the B2OB means we hit a S/R line and we see a break in market structure, a confirmation of the reversed trend by another break and a retracement back into an Order Block
     
  3. Hopiplaka

    Hopiplaka My thanks go out to ICT - the life changer

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    A B2OB concept using ICT tools:

    • In a downtrend we expect the high of the week to form between Monday and Tuesday's LO, 70% of the time
    • We identify a resistance level which we will hit during that timeframe, either in the form of a 4H or 1H bearish order block, or a key resistance line
    • we wait for a break in market structure on a lower time frame (15MIN) during a kill zone (LO or NYO)
    • The B2OB concept expects a confirmation of the down trend by a second break in MS
    • We want to see a retracement into a lower timeframe (15M) order block which aligns with the OTE zone
    • Take profit around obvious fib extensions

    [​IMG]
     
  4. Hopiplaka

    Hopiplaka My thanks go out to ICT - the life changer

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    Support & resistance using Renko

    For those who have troubles identifying support/resistance levels, trading view (pro plus) users can use the 15Min Renko charts.
    Coupled with time of day, OTE and order blocks, trading can be 'easier'.

    First open up a renko chart using the 15Min and draw sr lines on all swings
    [​IMG]

    Next switch to a 1Hour bar chart and identify 1 hour order blocks close to where price is
    [​IMG]

    When price hits the sr line during a kill zone wait for a reaction and a retracement into a smaller timeframe (5 minutes) OTE, ideally using a hidden ote (using institutional price levels).
    [​IMG]
     
  5. Kuzia

    Kuzia Well-Known Member

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    At first i thought this renko chart is shit for noobs but i like how u use it marking S&R levels.
     
  6. Hopiplaka

    Hopiplaka My thanks go out to ICT - the life changer

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    B2OB on the GU

    I made a loss by trading GU too early yesterday (that's the punishment for trading Mondays :) ) but today was the correct setup using the B2OB concept

    Price was in the OTE zone while USDX was in a bullish 1H order block.

    On the GU we saw a retracement into a 15Min order block, but it was not in the LO kill zone.
    There was a nested OTE on the 5Min where we touched a 5 min bearish order block for a nice short.
    We saw the break 1, break 2 and back into an order block concept at work, where the OTE zone was the resistance level.


    [​IMG]
     
  7. foreigner

    foreigner Est. 12480 Hours and Counting

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    At what price did you sell GU yesterday Hopi? on what basis?? Cheers F
     
  8. Hopiplaka

    Hopiplaka My thanks go out to ICT - the life changer

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    I had a small setup with a very tight stop loss around 1.6110 level ( a bearish 1H order block, stops placed above the order block), but it wasn't the best setup :)
    We were also inside a bullish 1H order block on the USDX but they cleaned the stops during late NYO, beginning LC.
    I suspect they will run the stops around 86 level on the USDX, that's why my bias is short this week.
    But with FOMC coming up, everything is possible, so I hope my EU setup will generate some sweet pips today.
     
  9. Hopiplaka

    Hopiplaka My thanks go out to ICT - the life changer

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    The weekly dealer range and SMT divergence in play yesterday
     

    Attached Files:

  10. Hopiplaka

    Hopiplaka My thanks go out to ICT - the life changer

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    A renko + B2OB example using the NZDUSD for a change, so you can see it works on other pairs as well.

    [​IMG]

    [list type=decimal]
    [*]Open up a 1H renko chart to draw the near term support/resistance lines (upper right part of picture)
    [*]draw the SR lines found on the renko chart to a 5MIN candlestick chart (left part of picture)
    [*]Wait for a reaction on the support level
    [*]Wait for the break 1 / break 2 and back into an order block structure
    [*]Identify a clear support level on the 5 min and align an obvious order block around that number
    [*]Use fib extension tool for take profit
    [*]Enter around 0.7730, exit close to the 100% extension around 0.7740 for an easy 40 pips
    [/list]
     
  11. Hopiplaka

    Hopiplaka My thanks go out to ICT - the life changer

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    A new B2OB setup using a renko support line for the EU

    [​IMG]
     
  12. Hopiplaka

    Hopiplaka My thanks go out to ICT - the life changer

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    Weekly dealer range

    It's been a while since I updated this thread, so let's continue with an update.

    I've been playing a lot with my weekly dealer range concept (based on ICT's central bank dealer range).
    Lately I use tradingview to do my analysis but I didn't port the weekly dealer range indicator to pine script yet.
    But I've found a much easier way to draw it using just a fib.

    Based on the EST setting, the weekly dealer range is drawn using the minimum and maximum price between Friday's 07:00 EST and market close.
    In tradingview, you draw a regular fib and change the fib levels to:
    [list type=decimal]
    [*]0
    [*]0.5
    [*]1
    [*]1.5
    [*]2
    [*]2.5
    [*]-0.5
    [*]-1
    [*]-1.5
    [*]-2
    [*]-2.5
    [/list]
    These are the maximum number of levels you can choose, most of the time they are sufficient for the week, but on strong trends price can move to +/-3.

    The levels you now have are the support/resistance lines for the week.
    You can save the fib you just draw as a template so you can use it later on in your analysis.

    See following example for the GU
    [​IMG]

    Now, to finetune the weekly dealer range, each new day I also draw the midpoint levels of the day. These midpoint levels act as S/R lines as well, especially during the LO to get the best entry.
    It's very easy to draw this. Just draw a new fib from two consecutive levels (eg. 0 and 0.5) and you will have the midpoint levels.

    Next figure is with the midpoint just after the new day starts (00:00 EST). See how we could use this levels to enter the market during LO and NYO?
    [​IMG]

    Do you see the pip perfect entry points during FOMC and how it aligns with 5Min order blocks?

    Last example is of Monday's trading day. Do you see the London express? Do you see the resistance level to enter during NYO? And see what level we hit in the take profit timeframe?
    Pip perfect precision I'd say :)
    [​IMG]

    Does it work for other pairs you ask? Check out EU. Although LO just fell short, you could enter during NYO with a 4pip drawdown or at FOMC with 0.5 pip drawdown.
    This is a screenshot with the midpoints of the weekly dealer range, so 2 fib's
    [​IMG]

    Let me know what you think, are you as enthusiastic as me :)
     
  13. palmy

    palmy Active Member

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    Re: Weekly dealer range

    Friday 0700 EST to close of market on the same week is less than 1 trading day's data. Or did I read wrongly?
     
  14. Hopiplaka

    Hopiplaka My thanks go out to ICT - the life changer

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    Re: Weekly dealer range

    Yes, it's the New York session of the last trading day of the week, just like the last couple of hours per day are used for the daily range.
     
  15. walshman

    walshman ICT has shown me PATIENCE is the KEY!

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    Re: Trade setup 2014 Week 25 USDCHF

     
  16. rod178

    rod178 Well-Known Member

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    Re: Trade setup 2014 Week 25 USDCHF


    An option is to use/modify SupDem to more closely mimick ICT's concept of OBs.
     
  17. rod178

    rod178 Well-Known Member

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    Attached is a chart on "How to identify" Supply and Demand areas, which are slightly different to OBs, although more similarities than differences.

    [​IMG]
     
  18. Hopiplaka

    Hopiplaka My thanks go out to ICT - the life changer

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    Re: Trade setup 2014 Week 25 USDCHF

     

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