ICT Actual Case Study

FTMO Trader Scouting
jupiter_peak said:
It's never easy.... ;-)

Today is a low volume day. Holidays in US and Canada. So not your typical trading day. Lets just hope we have seen the bottom of the week established today.
Click to expand...

"Holiday" is a little bit of a misnomer. More like "well, the Banks are closed", but pretty much nothing else is. Most schools aren't, even. But I'm learning that taking USA Holidays off is a bad idea in Forex. Mostly as it's a "great time to screw the Yank traders", really. (Don't worry, UK holidays produce some nice Cable setups, haha)
 
jupiter_peak said:
By the way, cable also had a nice entry today at a 1h OB. Michael mentioned it in his latest video.
Click to expand...

Just closed the last bit +55. :) Though it's amazing how eerily accurate my TPs can be. Now if I just learn to feather them by 2 pips, I'll make +5 each trade.
 
jupiter_peak said:
Got back at USDJPY yesterday, this time short, with a vengence. Sold @ 107.26, OB and 62.0 ret. level.
Click to expand...

I was really tempted, but I'm waiting on UJ. It'd work out okay at the moment, but UJ's been an utter mess. 105.80 is definitely on the cards, but my reading is that we're not done with 107.80 just yet. But I'm definitely fully "Short Biased" now.
 
sqa said:
I was really tempted, but I'm waiting on UJ. It'd work out okay at the moment, but UJ's been an utter mess. 105.80 is definitely on the cards, but my reading is that we're not done with 107.80 just yet. But I'm definitely fully "Short Biased" now.
Click to expand...

When the OB from ~107.00 was taken out yesterday and S&P500 began to "melt", I took what seemed to be obvious to me. We have a new low in place now. Took half of and letting the rest ride.

On another note, the GU trade from yesterday is doing awesome too.

Here is a picture of another H&S.
 

Attachments

  • GBPUSD_H&S.png
    GBPUSD_H&S.png
    14.8 KB · Views: 58
jupiter_peak said:
When the OB from ~107.00 was taken out yesterday and S&P500 began to "melt", I took what seemed to be obvious to me. We have a new low in place now. Took half of and letting the rest ride.

On another note, the GU trade from yesterday is doing awesome too.

Here is a picture of another H&S.
Click to expand...

UJ, keeps repeating it. Just gave out another short opps during NYO from H1 OB, 70.5 ret.
 
I thought this would be a cool thing to share with you guys regarding market profiling.

I believe the screens are pretty much self explenatory.

Am in a bit of a rush right now, but if you have any questions, feel free to ask.
 

Attachments

  • USDJPY_Profiling.png
    USDJPY_Profiling.png
    44.3 KB · Views: 94
  • USDJPY_Profiling1.png
    USDJPY_Profiling1.png
    44.4 KB · Views: 57
Well, that's certainly interesting. Where did you get the volatility data? Can you trust it? And how'd you overlay it like that, haha.
 
sqa said:
Well, that's certainly interesting. Where did you get the volatility data? Can you trust it? And how'd you overlay it like that, haha.
Click to expand...

It's a feature of the new Multicharts software. Pretty handsome I would say.

As far as reliability, I am testing it as of now. I am using MB Trading feed data.

It seems that the highly traded levels are indeed respected. Especially in the direction of the long term trend.

Will try to post another sample from another pair.
 
Effectively, you're actually seeing the Order Block formation, somewhat, from those volume spikes. Which is useful, but it's, obviously, still just a tool.

As for UJ, I really should have taken that Long at the bottom I was spying. (I've seen this Script before. UJ rarely "grinds" a top or bottom.)
 
The Yen is very much correlated to the S&P500. If you look at ES current lows, they seem very suspect. Price is currently on hold since it reached a weekly order block. However, it seems very likely that the current lows will be taken out since momentum and market structure have switched to the downside. Yesterday price retested an important daily broken support come resistance.

If this indeed unfolds, we will continue to see UJ bearishness.
 
jupiter_peak said:
The Yen is very much correlated to the S&P500. If you look at ES current lows, they seem very suspect. Price is currently on hold since it reached a weekly order block. However, it seems very likely that the current lows will be taken out since momentum and market structure have switched to the downside. Yesterday price retested an important daily broken support come resistance.

If this indeed unfolds, we will continue to see UJ bearishness.
Click to expand...

What is ES? In which ICT videos, can I study and drill my knowledge on Order Blocks? I need to master this concept.
 
UJ is just a mess at the moment. It's definitely Sell Biased, but it's going to take its dear, sweet time getting there.

I just wish the price action wasn't such a disaster. It's hard to work out the cleaner entries.
 
sqa said:
UJ is just a mess at the moment. It's definitely Sell Biased, but it's going to take its dear, sweet time getting there.

I just wish the price action wasn't such a disaster. It's hard to work out the cleaner entries.
Click to expand...

I don't quite see it so messy. If you look on daily, the bullish order block around the 107.00 level was breached.

What happens when an order block is breached? We expect it to retest previous support, become resistance. In this case the 107.50 level which also is an institutional level.Refer to Michael's latest video as it has a similar example only on fiber refering to this kind of price action.


So if you couple that with the switch in bias, market structure, and the S&P500 we can put the puzzle together.
 
You must log in or register to reply here.
FTMO Trader Scouting
Back
Top