ICT Homework Thread July 6th - 11th

FTMO Trader Scouting
Status
Not open for further replies.
From the June Study of Cable, I have these as the "Key" S&R that were Created.

1.6740
1.6810
(1.6900 counts, sort of, but it's more of a Down-side target at the moment)
1.6950
1.7000
1.7040
1.7110
1.7160 (Though this is July Study)

Anyone have others? (This was the 15-minute Impulse move study)
 
sqa said:
From the June Study of Cable, I have these as the "Key" S&R that were Created.

1.6740
1.6810
(1.6900 counts, sort of, but it's more of a Down-side target at the moment)
1.6950
1.7000
1.7040
1.7110
1.7160 (Though this is July Study)

Anyone have others? (This was the 15-minute Impulse move study)
Click to expand...
I'm having the same as yours.

But give or take 10 pips, what do we see?
00 and 50 numbers...
 
Yeah, you could get by with just the Big/Mid Figure indicator, though some of the levels, even if 10 pips off them, really are the key ones.

I guess ICT's "Trade the Figure" lesson from the old Torrent needs another look, haha.
 
sqa said:
Yeah, you could get by with just the Big/Mid Figure indicator, though some of the levels, even if 10 pips off them, really are the key ones.

I guess ICT's "Trade the Figure" lesson from the old Torrent needs another look, haha.
Click to expand...
Yeah, but if you are trading the one shot/one kill style, you need to flexible, ICT allows for some slack, 10 pips seems to be ok.

I've made a screenshot where I used very thick line width for the 00 lines.

You want to see a reaction on a key level, and get in sync with the move using the OTE.
Check the screenshot and be amazed :)
 

Attachments

  • GBPUSD2014W28_4H.png
    GBPUSD2014W28_4H.png
    41.3 KB · Views: 69
I'm kind of dreading even attempting Key S&R Analysis review on the USD-JPY though. We're so insanely range bound, I can make an argument for every 10 pips having a Key Level. And it acts like it too. Though we're winding up so much lately, they might finally make the break. Not sure.
 
sqa said:
I think the sadder part is this: why do we bother doing much else. :p
Click to expand...
Once you get the OSOK concept, you can use all the other tools to get an understanding of the smaller timeframe fractals.

Question is: do you need it? Not to be profitable no, but if you're one who wants to know all ins and outs - every 5 min fractal for that matter - it's really useful.
ICT has OCD, so he wants to know everything about price movements. He/his mind cannot take a rest before he knows everything.

I'm more "laid-back" currently. I'm trying to get the OSOK correct for the main account, and in between study all the other info he released the last couple of years.
 
sqa said:
I'm kind of dreading even attempting Key S&R Analysis review on the USD-JPY though. We're so insanely range bound, I can make an argument for every 10 pips having a Key Level. And it acts like it too. Though we're winding up so much lately, they might finally make the break. Not sure.
Click to expand...
I think for the USDJPY the institutional levels are useful, If you add the 20/80's you see some nice reactions as well.
 
Hopiplaka said:
Yeah, but if you are trading the one shot/one kill style, you need to flexible, ICT allows for some slack, 10 pips seems to be ok.

I've made a screenshot where I used very thick line width for the 00 lines.

You want to see a reaction on a key level, and get in sync with the move using the OTE.
Check the screenshot and be amazed :)
Click to expand...
I made a revised screenshot of this weeks GBPUSD pair, I use the 50 level to draw the fib.
The weekly low is set, cleared out last weeks stops.

Today we will probably create a Swing low, so tomorrow we'll look for a retracement.
See the yellow line for some order blocks.

Tomorrow @ 11GMT there is interest rate announcement, I will not be surprised if we see some action around these levels - if today we complete the swing low and break last weeks high that is :)
LO tomorrow is the time you want to check the STD1-3 Buy zone of the CBDR indi I guess...
 

Attachments

  • Screen Shot 2014-07-09 at 08.37.29.png
    Screen Shot 2014-07-09 at 08.37.29.png
    40.5 KB · Views: 63
thanks - I feel embarrassed not realising that!

some significant downward movement on Cable

waiting for a potential Long at 17040 ish
79 fib and monthly KSR
 
rod178 said:
thanks - I feel embarrassed not realising that!

some significant downward movement on Cable

waiting for a potential Long at 17040 ish
79 fib and monthly KSR
Click to expand...
I don't think it will go lower than 1.7098 today.
And if it even reach there (during NYO) we might see a NYO reversal profile, else we have just the LO Low of the day.
 
Not that Cable didn't pop into a Order Block/OTE range, but it's shaping up to be a nasty Seek & Destroy day, though with maybe a late run down.

The important detail is that previous week's high should be baked in for a while, unless the BoE does something really funky on Thursday. If you're a Harmonics guy, I'd be trying to figure out the pattern being setup, as it looks really, really suspicious at the moment. That Tuesday Low broke Market Structure down on the H4 Chart, and I could make an argument it's the D1 Chart break as well, though that's fully confirmed when it breaks 1.6950 (which should be the Weekly Break, I believe, as well).

As for USD-JPY, it does work off the .20 & .80 levels. It also works off every freaking .10 and .05 step. In the last 2 weeks, it's bounced off HTF levels to the pipette. It's... frustrating to no end, lol. At least I've broken myself of getting sucked into the 15-minute chart.
 
Hopiplaka said:
I don't think it will go lower than 1.7098 today.
And if it even reach there (during NYO) we might see a NYO reversal profile, else we have just the LO Low of the day.
Click to expand...
1.7105 (+spread) is a 15Min order block an the R0 (200%) reflection pattern.
I think that's a nice buy order, 1.5 STD as well + Pivot MS1 level.
 
Oh, and Hopi, this is something of an aside, but thanks for mentioning "Break 1" and "Break 2" so often. I realized two weeks ago that I "knew" Market Structure, but I didn't know it well enough to explain it to others. From one of the best pieces of Mathematics advice I ever received, that's a sign that you don't know the topic well enough. So I went back to study up on it again. It's really helped clear up some problems I was having. So, thanks for that.

Now, it's just a matter of cleaning up a few more execution issues. June had, practically, everything that can go wrong on the execution side of things for me, go wrong. But, hey, rolling ICT style helps. Ended up 1.25% on the Month. :p First Rule of Trading: WATCH YOUR 6! :) Thanks Michael.
 
sqa said:
Oh, and Hopi, this is something of an aside, but thanks for mentioning "Break 1" and "Break 2" so often. I realized two weeks ago that I "knew" Market Structure, but I didn't know it well enough to explain it to others. From one of the best pieces of Mathematics advice I ever received, that's a sign that you don't know the topic well enough. So I went back to study up on it again. It's really helped clear up some problems I was having. So, thanks for that.

Now, it's just a matter of cleaning up a few more execution issues. June had, practically, everything that can go wrong on the execution side of things for me, go wrong. But, hey, rolling ICT style helps. Ended up 1.25% on the Month. :p First Rule of Trading: WATCH YOUR 6! :) Thanks Michael.
Click to expand...
Thanks Sqa,

I think we have a nice example again on the 4H EU today.
 

Attachments

  • Screen Shot 2014-07-09 at 09.51.21.png
    Screen Shot 2014-07-09 at 09.51.21.png
    16.4 KB · Views: 63
I don't look at Fiber that much, yet, but it strikes me that there is likely to be a nice Long developing on a retrace today to 1.36. Not that is trade advice. ;D
 
Status
Not open for further replies.
FTMO Trader Scouting
Back
Top