ICT Homework Thread June 1st - 6th


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Tarri

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bit of a tough day today to start as lots of ambiguity or are we supposed to only do this on high participation days tu - thu.

anyways started the work, post here to keep myself in this exercise.
 

Tarri

Well-Known Member
expectation for this week:

1) raid stops below 1.3477 - seems like a wonderfull target
2) This area is also in a daily OTE from november last year low to last months high
3) there's a daily order block at 1.3436
4) first day of the month is down, let's see the others but could be a Judas on daily as per CBDR on monthly but need a couple of days to confirm.

Fundamental'ish
1) seems like ECB rate cut is already priced in. Market expecting cut to 0.1% and -0.1 % for banks
2) it needs to bounce somewhere after having gone down almost all of May (weakest reason I know).

Selling the rumor and buying the news on thursday if an opportunity presents itself.

P.S. SMT divergence quickly becoming my favorite entry pattern. Today again if only for 25 pips
 

omfx

Well-Known Member
Hi there,

Does anyone know which ICT's video(s) that talk about Price Model-Open Rally Short and Price Model-Open Decline Buy? Thank you!
 

sqa

Village Scribe
omfx said:
Hi there,

Does anyone know which ICT's video(s) that talk about Price Model-Open Rally Short and Price Model-Open Decline Buy? Thank you!
Judas Swing. :)
 

fxpaulm

New Member
Anyone know if Michael shared those "Study Resources" that he tweeted would be shared this past Sunday?
 

sqa

Village Scribe
fxpaulm said:
Anyone know if Michael shared those "Study Resources" that he tweeted would be shared this past Sunday?
He posted the "Homework To Do", so I guess that's all he had for June. I kind of expected more, but it's also a lot of work. (Michael takes the Mr. Miyagi approach)
 

omfx

Well-Known Member
In ICT's homework, he says to "Note the CDR on every Tuesday - Wednesday - Thursday patterns." I don't quite understand this. Does he mean the pip size? May be I am analyzing into it too much? Can anyone please clarify what he means here?
 

sqa

Village Scribe
omfx said:
In ICT's homework, he says to "Note the CDR on every Tuesday - Wednesday - Thursday patterns." I don't quite understand this. Does he mean the pip size? May be I am analyzing into it too much? Can anyone please clarify what he means here?
Some of the less commented Aspects of Michael's trading style is his memorized Price Patterns. Considering he's having us study the Cable, which is likely the most repetitive of all of the FX pairs, there are Mid-Week patterns that form. He wants us to start to see them.

I also have a good guess that they'll form a Market Maker Profile most weeks, so you know where the Thursday-Friday moves are headed.
 

kongzz

Well-Known Member
STalking this setup on the eur.

Eur consolidating within a tight range pre ECB rate announcement. Expecting a Judas/Turtle soup to the downside into 1.35720 Daily OB.

Thinks to watch out for trade confirmation:
1)SMT Div
2) Price does not trade above CBDR range high first.

Ideally, i would want to see price just trade down 3 std deviation.
 

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Tarri

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On fiber we have been going sideways for the past 3 days. As I'm expecting a buy the news event I'm using ICT reflection to gauge the low to be formed tomorrow on the interest rate decision. Which means we should not go much lower then 1.355.

There is also an intermediate low around 1.3562 for stops to be cleared. if beyond this next stop would be 1.348.

Any comments on use of reflection here?
 

dougl1965

Well-Known Member
Ok, not trying to confuse anybody. I have 2 fibs drawn and both work well. I took the long this morning since that was the opposite of the first main move. But I'm thinking that the short is the better move? just looking for feedback...
dougl
 

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djsm8

Member
Looks like most of the news will be NY session. So I'm not sure if the LO will play out but this would be the area I would be looking for a trade if it gets there and I happen to be awake. No alarm for me tonight. I would love to see SMT div. between Fiber and Cable. Fiber has some nice areas to reach for with a reflection pattern.
 

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