ICT Homework Thread June 1st - 6th

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Hopiplaka

My thanks go out to ICT - the life changer
I still think we will go lower GU.

Check out the MM Sell model on the DAILY. See how that 1.6780 level acted as a resistance level.
Now zoom in into the 1H and see where tuesdays high came in. A nice OTE entry in LO on tuesday for 75 pips. A new OTE was formed yesterday during NYO.
There was divergence between the GU and USDX (higher low for USDx, GU Failed to make Higher high).
Also check out the bond chart, 1H. We are in the STD3 buy zone level, due for a bounce. Bond prices up=yield down=foreign currencies down.

I think we will see a continuation today of this OTE. The 200% extension is around 1.6615, which brings the weekly range to around 170 pips.
 

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Hopiplaka

My thanks go out to ICT - the life changer
Hopiplaka said:
I still think we will go lower GU.

Check out the MM Sell model on the DAILY. See how that 1.6780 level acted as a resistance level.
Now zoom in into the 1H and see where tuesdays high came in. A nice OTE entry in LO on tuesday for 75 pips. A new OTE was formed yesterday during NYO.
There was divergence between the GU and USDX (higher low for USDx, GU Failed to make Higher high).
Also check out the bond chart, 1H. We are in the STD3 buy zone level, due for a bounce. Bond prices up=yield down=foreign currencies down.

I think we will see a continuation today of this OTE. The 200% extension is around 1.6615, which brings the weekly range to around 170 pips.
So it will be a reflection pattern today :) 1.6780 is a nice short I think...
Entering just before the rate announcement >:D
 

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ovidiux

Well-Known Member
Hopiplaka said:
So it will be a reflection pattern today :) 1.6780 is a nice short I think...
Entering just before the rate announcement >:D
If only I had a limit order... :'(
hope I will catch the next bus
 

fredfresh

Well-Known Member
quite a ride;)
wasn't in it..
struggled a bit this week.. my tuesday trade would have been nice.. entered cable a bit too early, eying the wrong OTE (entered at 1.6763) and the stop hunt higher surprised me a little (didn't realise it was another OTE until later) then when the news came out and even with volatility price refused to go much lower than my entry price, I decided to close the trade at +2 pips.. later it would have turned out to be a profitable trade after all, but my trade Idea itself proofed wrong, hence I closed it)
Today I had a limit order at 1.6750, which got stopped out.
After missing any potential entry for the big move (draghi) I already thought about closing shop for this week, when I saw my opportunity after all the news announcements where finished and the finer has caught itself a little after the drop at the 1.35 level.
The 1.35 level I have marked as a potential low for the month.. however after such a move today, and with NFP coming up tomorrow, I was not willing to enter any Swing trade/longer term trade.. I entered for a scalp instead, making 2R. quick and sexy.
Thanks to the new stuff ICT has taught in the last few weeks, I feel more confident than ever, that I can get this to work. Consistency is improving;)

By the way, I am doing my homework daily.. Just not that fond of spending too much time on forums anymore (not sure if I am even allowed to upload pictures on here, with my limited amount of posts?)

anyways, keep it up and happy hunting..
I'll retreat back into my hole and come by here every once in a while to lurk;)
cheers


edit: Ok it does slightly bother me now (not really), having closed this trade at +50 pips.. didn't expect it to have enough juice left today to go all the way back up;)
 

ovidiux

Well-Known Member
ovidiux said:
we are in some kind of MM buy modelon fiber M15? I'm long @1.3516
it must break upside ???
yesss!
132 pips won! my best trade ever, lol :))
minus 37 pips lost on other two supid early long entries.. :D
 

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Hopiplaka

My thanks go out to ICT - the life changer
Well, that was quite a ride today :)

The bottom was formed when the USDx touched the STD3 weekly level, and reversed instantly to go back into the weekly dealer range.

I do not think there is much more room to go up for foreign currencies. They often say: bonds lead the way, have a look at the 10y bond chart. Turned around at the OTE level, bond prices are up, so bullish USD, bearish GBP/EUR/...
Still some nice stop above the 81.45 level @ USDx, so it might be an interesting month.

Still expect the GU to complete the MMSP, exit around 1.6440, that's room for 400 pips until we reach the summer low.
 

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Tarri

Well-Known Member
ovidiux said:
yesss!
132 pips won! my best trade ever, lol :))
minus 37 pips lost on other two supid early long entries.. :D
Congratz. In hindsight I should have used that thing ICT did with pulling the fibs from top of ADR range to low and then making a 'reflection' by putting the 50 level on the bottom. Then I would have entered on 1.3521..

Looks like you did.
 

Tarri

Well-Known Member
Hopiplaka said:
Well, that was quite a ride today :)
Hopiplaka, if I may ask. What broker do you use that you have bonds in mt4? I couldn't find any that did (maybe didn't look hard enough0.
 

Hopiplaka

My thanks go out to ICT - the life changer
Tarri said:
Hopiplaka, if I may ask. What broker do you use that you have bonds in mt4? I couldn't find any that did (maybe didn't look hard enough0.
I use Oanda for the bonds.
If you cannot see them, open the market window, right click and choose show all.
 

ovidiux

Well-Known Member
Tarri said:
Congratz. In hindsight I should have used that thing ICT did with pulling the fibs from top of ADR range to low and then making a 'reflection' by putting the 50 level on the bottom. Then I would have entered on 1.3521..

Looks like you did.
Well, I wasn't that smart.. I was pissed off cause the cable din't plunge, got out with +3 pips and then moved on fiber.
I was watching the daily bullish order block @ 1.3570 and the weekly one at 1.3550 + reflection confluence (62-79 fib, not 50), entered long twice too early at 1.3567 and 1.3529, and exited fast with losses. Only then i saw the consolidation at 1.3570 wich had to be in the middle of the down range + big fig + the intraday buy model.
Many rules broken, in the end I was lucky..
 

sakib717

Never apologize for confidence...
Hopiplaka said:
Well, that was quite a ride today :)

The bottom was formed when the USDx touched the STD3 weekly level, and reversed instantly to go back into the weekly dealer range.

I do not think there is much more room to go up for foreign currencies. They often say: bonds lead the way, have a look at the 10y bond chart. Turned around at the OTE level, bond prices are up, so bullish USD, bearish GBP/EUR/...
Still some nice stop above the 81.45 level @ USDx, so it might be an interesting month.

Still expect the GU to complete the MMSP, exit around 1.6440, that's room for 400 pips until we reach the summer low.
Hopiplaka can you explain little more about weekly range ? how you define Standard deviation in weekly range ?
 

Hopiplaka

My thanks go out to ICT - the life changer
sakib717 said:
Hopiplaka can you explain little more about weekly range ? how you define Standard deviation in weekly range ?
Hi Sakib717,

I define the Weekly range as last Friday's NYO to Close of Markets.

They work pretty well, see attached screenshot for yesterdays (and todays) levels in USDX.

See how it turned yesterday at the STD3 (1 pips short). And now we are at the 79% zone, just at the lower weekly range level. They body of the daily order block is @ 80.36, we might clean the stops of last Friday but I think USDx will go up today.
 

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Simr

Well-Known Member
Regarding your second chart...H1..cable... it would work cos there's two levels up on D1...

On h1 ...i think uve countd it wrong... there are only two levels up as of now...

So id say another move up..to 1.6870 levels ..and then move down for the third level on D1...to 1.6600 levels...

Just IMHO..

bronxterp said:
Next week could be interesting 8) A nice retrace up on Monday would be spectactular
 

Simr

Well-Known Member
I have another question for someone who is in the know. IN barchart.com when we see the COTS charts , for JPY futures , they are net long.

So does that mean USDJPY will head down ? or that USDJPY will head up. Because the price action 0ver the last year and a half of the JPY futures does not support USDJPY moving up.

thanks
 
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