ICT Advanced Price Action Trading Concepts

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feroz

Well-Known Member
hi there every one.. have something in kind to use as one of my strategies which is

having the directional bias from daily and 4hour charts
coming to 15 min chart with the kill zones on the chats
using the ICT fib levels to place a trade

would this be a simple strategy to be used?
 

sqa

Village Scribe
TopFroxx said:
what is the "10k challenge"?

There's a few things that have been mentioned, so I'll clear them up.

10k Challenge - Prove that Price Action doesn't work on a tradeable commodity on a consistent basis. If you can show it not work on a constantly repeating basis on something (Stocks, Bonds, Futures, Forex, Commodity), Michael will pay you 10k USD. He's hoping someone will try, as the exercise alone will teach them a lot. Note: pegged currencies don't count.


5k to 1million - This started on BabyPips, but Michael is still doing it. And he's WAY ahead of schedule. Michael is going to have some fun victory laps in the future.


100 USD to Low-Middle Class Income - One of Michael's students has done this. Works as a mechanic, but isn't quiting his job. He's going to open up Franchises. Where do you think he's going to get the capital? :)

20 Million - When Michael gets 20 Million in the Bank, he's retiring from active trading. That's somewhere in 2016. He "finishes" teaching in December of this year. If you view it all as a 4-year College Degree, this is year 4.
 

sqa

Village Scribe
Well, I got almost nothing on Tuesday Asian Session talk.

I guess I shouldn't read the time for the session (it said it would start at 9:30 Eastern) as the time it starts. Oops. And I had to go pick someone up, so I would have missed anyway.

Wednesday's Session will cover more Dealer's Ranges and starting to work on "Nested Order Blocks" concepts.
 
in the webinar on the 28t, ICT mentioned doing something on Sundays, and not the rest of the week, and I missed part of it. Was it stacking the buy/sell windows, or was it something else? Can you guys see the questions from everyone during the webinar?
 

sqa

Village Scribe
2014-04-30 Live Stream Notes:

ICT's Pre-show music is a little questionable this morning...

Reviewing Cable & Fiber from previous session the night before. Then Teaching session.

Picture #1: Likely Stops/Liquidity. Highlighting the areas/reviewing from yesterday.

Big Figure: Be careful of a tight stops on your orders around them. Especially if key Support & Resistance.

Classic Technical Analysis: Stop at/right blow a recent High/Low. Dealer's know that.

Picture #2: "L-Range" view. Let's you "see" a range.

Intraday Action is where it's at for the moment, as not much is really moving.

George Angell (sic) "Inside the Daytrading Game" - LSS:

Taught how floor traders would look at how prices were set.

Don't take position when in the "Middle of the Range". Look at current trading range, ON THE TRADE TIME FRAME you use.

Dealer's Range: 1800 to 2359 GMT with "ICT Asian Session" indicator.

Showing confirmation of trades outlined the night before.

As a Trader, you don't want someone else telling you what trades to take. You have to build up the Skill, otherwise you're dependent on someone else. Go, Work, Learn! (that's my take)

And ICT wants to know the stories of results! That's his payment.

George Angell - "Spyglass" - hard to find, but talks about Pit Traders gunning stops.

Don't "Hope & Pray" price will go your way.

When Sentiment is running hard 1 direction, the Banks will run the opposite way for a while.

When Beyond the 79% OTE, it's a sign the Pair isn't respecting the current Range, meaning it's responding to a larger one or breaking out of it.

Think of Price like a Bus. The Bigger, Stronger people get on by shoving off other people. Thus, the Judas Swing.

Speed in London - means they're gunning for someone.

Dealer's Range gives you the Highest Probability for the areas to search for Order Blocks.

Time has to meet Price. Time & Price!

Picture #3: London Open run into Key level, Slaughters everyone, then takes off 90 pips.

Use LIMIT Orders in London. Price doesn't say there long.


ICT doesn't draw them on his chart (Dealer's Range). Done it enough to just "see" it. We now know how he does it by Sight during Live Sessions.

Banks do facilitate commerce. Other than raping the innocent trader.

Reviewing the Called Prices from Yesterday's session.

Picture #4: Don't Trust Judas!

If Smart Money is Buying, they know the price is "Cheap".

ICT is still a bargain buyer in Real Life. He doesn't chase price IRL either!

Always look for Clean Levels. They'll get run soon enough.


What's the Parent Price Swing?

Picture #5: Parent Range the pair starts within.

Picture #6: ICT finds this beautiful. And it was all called the night before.

Hunt Order Blocks on D1, H4 and H1 levels. Look at areas that Price didn't spend much time there.

8 minutes left. Can ICT get out on time?

"Feather" or "Fluttering" Price Action into London Take off happens 1-2 times per week, per pair. You can get to the point of knowing exactly what will happen. The matter is the Patience to wait for them.

Picture #7: That double of the range is a possible outcome, but ICT internalizes the Institutional Levels right before the Range Expectation.

Nothing in the Market is Random. You can get to the Precision Level.
 

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sqa

Village Scribe
And here are the other 2 Images.
 

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Hopiplaka

My thanks go out to ICT - the life changer
So I was looking into the daily dealer range and did some thinking as well.
We have the concept of 4H/1D/1W order blocks, so will the same thing apply to dealer range as well?
Do we have some reference point which set the weekly range and can we apply the STD1/2/3 boxes to the coming week as well?

The reference points I take are the last major swing of Friday's and the first major swing on Sunday/Monday.
I only did 5 weeks, but it looks interesting to say the least.

I tried the same for monthly dealer range, like the first x days before NFP, but didn't get anything out of this yet.

Thoughts?
 

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sqa

Village Scribe
It exists, though I don't think specifically to what you're getting at.

ICT did drop this one in the LATE stages of a long webinar.

Pop up a Daily Chart. Draw the Month Open across the Month. Use a 10 period Williams' %R. Then apply the Power of 3.

The attached is what this looks like on the USDJPY. The Yellow boxes are the days leading up to NFP. This was part of the Rant ICT was on when he mentioned it. They lay out their work for the Month in that first week.
 

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sqa

Village Scribe
Also, do keep in mind the Week Open. There is always orders there or a reason to run right back to the close. There is actually a lot of pairing from the weekend there, I believe, which explains why they like to pop back to it.
 

Hopiplaka

My thanks go out to ICT - the life changer
sqa said:
Also, do keep in mind the Week Open. There is always orders there or a reason to run right back to the close. There is actually a lot of pairing from the weekend there, I believe, which explains why they like to pop back to it.

Thanks for sharing. I'll keep monitoring this over the next couple of weeks.
I was playing with the Friday/Sun-Mon swings, and on most occasions they have a nice confluence, when used with the reflection pattern. They line up with the weekly high/low and the STD1 top/bottom, unless you hit a major SR line, on that occasion they seems to not pass the STD3 box.
 
I asked a question yesterday, but it must have been missed since a few posts were made before my post was approved, anyway, can anyone answer the following questions..........the webinar on the 28t, ICT mentioned doing something on Sundays, and not the rest of the week, and I missed part of it. Was it stacking the buy/sell windows, or was it something else? Can you guys see the questions from everyone during the webinar? I cannot see any questions
 

jack

Administrator
Staff member
COflyfisher said:
I asked a question yesterday, but it must have been missed since a few posts were made before my post was approved, anyway, can anyone answer the following questions..........the webinar on the 28t, ICT mentioned doing something on Sundays, and not the rest of the week, and I missed part of it. Was it stacking the buy/sell windows, or was it something else? Can you guys see the questions from everyone during the webinar? I cannot see any questions

Welcome to the forum BTW :)
 

sqa

Village Scribe
COflyfisher said:
I asked a question yesterday, but it must have been missed since a few posts were made before my post was approved, anyway, can anyone answer the following questions..........the webinar on the 28t, ICT mentioned doing something on Sundays, and not the rest of the week, and I missed part of it. Was it stacking the buy/sell windows, or was it something else? Can you guys see the questions from everyone during the webinar? I cannot see any questions

How to use the Dealer's Range on Sunday:

Combine it with Friday's last few hours before closing. :) Combined, that's the Range for Monday. Only difference.
 

omfx

Well-Known Member
As I observed the Cable price action with the NFP news today, I still don't quite understand some aspect of why price acted in certain way. Would appreciate any input from experienced traders. Thank you!
 

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SLT

Official GDayFX.com Rep
Don't trust data/banks/news reads, to give you a new trend straight of the bat!
 

SLT

Official GDayFX.com Rep
I am going to make a video, right up the ally of Order blocks and price cycles, i think you guys will appreciate it... take it or leave it anyways ;) just a little more insight into price and time, nothing major
 

AusDoc

Well-Known Member
@omfx

I can't give a precise explanation but keeping context in mind is a good idea. The USD is technically weak (and one could argue fundamentally weak for various reasons) and the following DXY (US dollar index) chart shows that it failed to hold its news reaction gain. Notice that it is pretty much a mirror response to the chart you posted, along with most dollar pairs.

bdWfMZz.jpg


Recall that ICT has highlighted the relationship between the US 10 YR Bond yield and the value of the USD. In this regard the following excerpts from Colin Twiggs newsletter may prove interesting.

XuMtKXu.jpg


8QNOw1f.jpg


So with "big picture" declining bond yields and USD value, news just generates noise, best left to experienced traders. Remember, traders are like pilots: there are old traders and there are bold traders but there are no old, bold traders.
 
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