ICT Advanced Price Action Trading Concepts
- Thread starter TheInnerCircleTrader
- Start date
COflyfisher
Member
the biggest thing I took from today was;
in a bear market, if price initially drops down, it is the precursor for a reversal. 3 std deviations should be where price reverses.
I missed the Q&A session so I don't know if any nuggets were dropped there
in a bear market, if price initially drops down, it is the precursor for a reversal. 3 std deviations should be where price reverses.
I missed the Q&A session so I don't know if any nuggets were dropped there
jinirav75 said:
I've been using VLC and the recent videos appear to be working on my iPhone. I did update to the lastest version a couple of months ago. The current videos were dropped into the VLC part of itunes tho'. Perhaps that could make a diffference. (ie. if videos were directly downloaded to iPhone)
Another option is convert with FreemakeVideoConverter it seems to do the job ok on computer.
Hopiplaka said:
I am monitoring this still. I even am creating a Weekly CBDR indicator, I'll post some screenshots.
The screenshots show the STD1-3 boxes (lines at the moment
) applied on a weekly basis. It looks like I am on to something, they act like SR lines and weekly top/bottoms.
Look at the Suissy week of 2nd-8th May. Before this, I said: Hmm, a very nice looking Tuesday low, this is according to the ICT rules (80% chance), cleared stop as well.
Now I say: Hmm, suspicious it hasn't touched a STD line. Let's see if this is a possible reflection pattern for Wednesday or Thursday
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Live Stream notes 2014-05-19
Pic #1: ICT making bank... in DEMO!
Pic #2: BUBBLES! Apparently ICT's screensaver.
Looking over a Fiber trade ICT took.
Busy day as a Forex Trader... going to watch Godzilla in IMAX.
Pic #3: Fiber Daily.
WE HAVE A MOUSE! It's only from the 1980s! YES!
Strength/Weaknesses in other Teaching in Support & Resistance. Point of this is likely high Reaction Points.
Higher Time Frame Levels are much more sensitive because the big money uses them.
Focus on 1 Pair this week.
2 Things you can do with HTF levels: Know when they'll hold (that takes a lot of experience, a little more than this Webinar to cover) or WAIT for the reaction, on the lower Time Frame.
It's NOT important that you need to catch the absolute Low or High. It's NOT a weakness. It's a mature Trader that can wait, as you can follow the coattails of Smart Money. (It also makes the trade safer)
Pic #4: D1 Order Block, Old Low & And L-Range. (Also, the Price Action was a Smart Money Price Pattern; ICT assume Short-Covering going into the Weekend.)
How do you a know a Level will Hold? YOU NEVER KNOW! If you know, you'd never lose a trade. But you WILL LOSE TRADES. Is this all about putting the Odds in your Favors.
Consistently taking small pieces of the Market will make your career.
Pic #5: May 13th Price Action doesn't look like a Bottom.
ICT wanted to buy on Friday, but he didn't want his Stress to gnaw on him. So he saw where Sunday opened.
Picture #5 also shows a Head & Shoulders (Inverted)
Sundays & Mondays are Weird. Monday to Tuesday London Open shows us what everyone is thinking for the week.
Pic #6: So CLEAN! at the 62% Fib.
Going to close 1/2 @ 1.3722, which we're at 3721 right now... and waiting.
The Trade has now Paid him. He can't lose on the Trade now, and he's not invested in the Trade now.
Don't watch the "Profit" number in a trade. It'll make you respond in ways you shouldn't.
Pic #7: 1.3755 Is a potential upside that ICT is monitoring. Called at 9:45 EDT Monday.
How to Find Key Support & Resistance?
If you overcomplicate S&R, you're hurting yourself.
Where was Price able to Push away from, in obvious moves. That's the Basis for S&R.
You need Order Blocks to really lock in on the proper S&R.
Previous Day High & Low on H1 Chart
Weekly High & Low on H4 Chart
Month High & Low on D1 Chart
ICT about to drop a Golden Bomb!
How to use "Wicks" for Supply/Demand "Zones".
However, it doesn't provide a high Probability. It's a rather myopic view of S&R.
Pic #8: Some highlights of those Wicks.
You're going to be very frustrated, as what you have Mapped out isn't going to play out consistently.
If you understand that others Teach this, don't feel bad that it's happening. Be thankful that they're making you money.
You are in the same "pool" as every other Retail trader, but they're going to trade with these ideas in mind. You're matched against their Orders. Don't fret it.
There is always a large liquidity pool in the wrong place, but that means we can take the other side. And this is freely chosen by both sides. Same risk disclosures.
Now, here's how to actually use "Wicks".
"Zone" implies you don't know what you're doing. It's not specific price points within a Zone, just an Area. A bit different.
"You NEED them (levels) to be Right, because you're overleveraging". - ICT dropping knowledge.
On the Wicks, you can look back at Old Highs & Lows. Going back to a level means nothing without further information.
-- He's honestly using the mouse. Just having problems... --
ICT uses the Bodies of the Order Block Candle as a confluence for the True level. Everyone likes to put their Stops slightly above/below a level, so driving through the apparent High is what normally happens.
If you're going to Trade Wicks, "First Return" principal. That's the only time it'll be traded into, before it's blown through. But Order Blocks will hold for a long while.
Cable 1.6925 Should be sensitive (10:10 am EDT Monday)
You can *see* Order Blocks on the 1-Minute chart, ICT is just saying you shouldn't trade it.
Trusting your S&R charting will take time.
Takes time & knowing a large toolkit. Nature of the game. And the patience to wait for them to materialize.
Be thankful you're not taking a Trade every day. You don't want to take a trade everyday!
If you saw how long ICT just watched charts, you'd probably quit doing this already. This is a BIG commitment.
Combine Time & Price w/ Market Structure.
Godzilla is calling...
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