ICT Homework Thread May 11th - 16th, 2014

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sqa

Village Scribe
Day 11.

USDJPY has set in its current swing and is on its way up. Those in the live-session from May 7th, I hope you're still in that trade, even if it actually set the low in the Dealer's Range on May 8th. (Interest rates announcements + massive USDX run)
 

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Tarri

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ovidiux said:
GBPUSD M15

sell scenario @ 1.6900 in confluence with H1 bearish order block, big fig & 62% fib
Nice one. Took this trade on the OTE from 1.6902 to 1.6882. waited for break of 15min MS.
 

sqa

Village Scribe
On Trendlines, right-click them and go to Parameters. Then copy the first into the second. Then, they're straight. :)

(I've been surprisingly OCD about that point)

It's pretty possible they could make a run back up tomorrow, but I'd want to see the Price Action going into London Open before getting into that trade.

It could also just absolutely smoke those levels to the downside.
 

dougl1965

Well-Known Member
Ok, guys. I lost some sleep last night but put on 3 trades on that had winning results. All 3 trades were based around ICT's Dealer range. I was rewatching the Dealer Range video yesterday and there was an area in it where he drew two Dealer range rectangles and said, "do you see the difference?" Anyways, pretty sure that's a big point for me? It worked last night.
dougl
 

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sqa

Village Scribe
Nice trades. :thumbsup:

The boxes are multiple Standard Deviations. 2.5 STD is something of a key point. Once it breaks that, the pair is normally off and running for the day.
 

dougl1965

Well-Known Member
sqa said:
Nice trades. :thumbsup:

The boxes are multiple Standard Deviations. 2.5 STD is something of a key point. Once it breaks that, the pair is normally off and running for the day.
Thanks! Right now I'm only using 1 Std Dev and possibly eye-balling a 2nd Std Dev?
I'm feeling good about things today. Gonna see if i can put on 4-6 more trades this week and take a look at the results. Hopefully, I am turning a corner?

Also, I'm wondering if someone wants to start an Order Block/ Open Interest thread?
I might be off-base so wanted to throw that idea out there.
dougl
 

sqa

Village Scribe
Just copy the Box and add one above & below.

I need more study of it, but at the moment it works a bit like this:

- "Big" Dealer's Range, relative to recent ADR = Z-Day (both Sides of the Range will be broken)

- "Very small" Dealer's Range, in general (5-7 pips) = Bigger Trend day on tap. (You saw this in the Euro today)

- 3 CDR move pre-London Open -> ICT said to expect a hard reversal in London if this happens, but it might be more for the European pairs. (I haven't seen any examples of this yet, so I really don't know what to point at for this one)

- Expect both the High & Low of the CDR to be touched during the day. It's pretty much an assurance.
 

dougl1965

Well-Known Member
sqa said:
I need more study of it, but at the moment it works a bit like this:

- "Big" Dealer's Range, relative to recent ADR = Z-Day (both Sides of the Range will be broken)

- "Very small" Dealer's Range, in general (5-7 pips) = Bigger Trend day on tap. (You saw this in the Euro today)

- 3 CDR move pre-London Open -> ICT said to expect a hard reversal in London if this happens, but it might be more for the European pairs. (I haven't seen any examples of this yet, so I really don't know what to point at for this one)

- Expect both the High & Low of the CDR to be touched during the day. It's pretty much an assurance.
thanks for the input, I hadn't heard ICT mention that....must've missed it.
good info though!

the thing i noticed, was if it the CDR range was tight, then London Open is stop hunting time? And if within CDR it makes a move in one direction and reverses then we need to look for order blocks and possible follow-through in that direction?

so i might be wrong but that's what i picked up yesterday when re-listening to the CDR recording.
dougl
 

sqa

Village Scribe
Tight CDRs definitely lead to "clean" levels. Especially if Asian doesn't breach one side.

As for CDRs interior movement, at least for the USDJPY from my study, it doesn't tell you that much. Just that there were orders in different places. A tight CDR means there isn't many orders within the location the day ended at.
 

sqa

Village Scribe
Day 13!

USDJPY still trending up, but we aren't too far from where the previous moves have stalled and died. Might make a run at 102.50 today, which is likely where all of the Steam will end. That also happens to be the 70.5% retracement from the weekly Swing points and a major Order Block.
 

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sqa

Village Scribe
@dougl1965:

I hadn't realized a wonderful piece of information you figured out until last night.

CDR as Stop Loss Effector. If a Day-Trade is going more than 1 CDR against you, it's a good idea to tap it out. So, use the CDR itself to set your Stop Loss size.

Thanks a bunch. That's a brilliant little insight.
 
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