ICT Homework Thread May 25th-30th


Status
Not open for further replies.

Simr

Well-Known Member
OK. Guys I totally missed the cable short today since I was concentrating on the fibre. The initial runup in the pre asian session ( 1.3668) i didnt take a short...time wise it wasnt right.

On fibre at the LO the 0900 GMT push down i took a long. Reasons : we were coming off a double bottom on 15 min chart...plus the price was at 1.5 AD and time wise it met the criteria. It worked a bit then totaaly went opposite.

So though i didnt co relate with the cable...though these days it doesnt seem to work.... I am still wondering if i missed something here.

thanks
 

sqa

Village Scribe
You need to line out the Asian Session movement. From hindsight analysis, you didn't note *where* they ran up to in the Asian Session. That was the tell-tale sign, especially as it was a 3 day old Order block & almost perfect 70.5% OTE hit. The LO retrace was into the Asian Range, just above the CDR (so sweeping the last bit of liquidity) and forming its own OTE.

It's a large tool box. You'll get it. It just takes a lot of study.

Edit: Also, it should be noted, we're in a very definite Down Move, right now. A Reversal of any significant move should happen at a key Higher Time Frame level.
 

Tarri

Well-Known Member
I agree on HT for a reversal but think we might be closer to that point. I'm looking at the low formed on daily on february 12th. Just outside OTE from february 2nd low to high formed on May 8th.

Will be watching the 1.356 - 1.358 tomorrow for possible retrace higher

Edit: 1.356 area also aligns with extended profit objective from last price swing up to form May 8th high
 

sqa

Village Scribe
I can still do the exercises. :)

Though today is one of those annoying parts of using a 1080p monitor for my work. MT4 isn't too big of a fan of spacing properly at larger sizes.

That red line up in the 1st STD is the Month Open. That level will hold. :)
 

Attachments

foreigner

Est. 12480 Hours and Counting
Simr said:
OK. Guys I totally missed the cable short today since I was concentrating on the fibre. The initial runup in the pre asian session ( 1.3668) i didnt take a short...time wise it wasnt right.

On fibre at the LO the 0900 GMT push down i took a long. Reasons : we were coming off a double bottom on 15 min chart...plus the price was at 1.5 AD and time wise it met the criteria. It worked a bit then totaaly went opposite.

So though i didnt co relate with the cable...though these days it doesnt seem to work.... I am still wondering if i missed something here.

thanks
I took the same trade, in hindsight, it should not have qualified as an entry, there were less than 40 pips to the fulcrum.
 

Simr

Well-Known Member
Didnt get any entry today. Fibre again by time went down just below CDR... initial move down..

By the rules of SD..and initial move .. plus the fact it was sitting on a 15 min order block..it was a buy.. also big fig 3620s... but didnt take it...

So am wondering how does one decipher when the SD down into an order block works ...and whn it doesnt....

regards
 

slugFX

Well-Known Member
There was no reaction when price got there, price just meandered there for a little bit so it wasn't a stop raid and the long term bias was down so I wouldn't have and didn't take it either. I was actually looking to get short, but missed the turtle soup that happened around 12:45 GMT or NY open.

EDIT: to add to that, another way to have confidence if it will work or not is when other bullish order blocks are also being respected in the past few days. have they been? no. the bearish ones have.


Simr said:
Didnt get any entry today. Fibre again by time went down just below CDR... initial move down..

By the rules of SD..and initial move .. plus the fact it was sitting on a 15 min order block..it was a buy.. also big fig 3620s... but didnt take it...

So am wondering how does one decipher when the SD down into an order block works ...and whn it doesnt....

regards
 

Tarri

Well-Known Member
I have to say that what you call turtle soup I interpreted as a break of market structure and I took the OTE that followed.

At a point it will retrace but guess until then down it is. 1.356 and 1.348 would then be my best hopes for bounce / retrace.
 

slugFX

Well-Known Member
The reason I interpreted it as a turtle soup was because the London open session was down and the New York session usually trends in the same direction as the London session. Price had also broken through the 1.3650 weekly support so I was also anticipating the daily swing high to be formed today. The moving averages are also down on the daily chart and widening.

All that being said, this is in hindsight, but it is what I was looking for. I was just asleep when it happened.. BOO

Tarri said:
I have to say that what you call turtle soup I interpreted as a break of market structure and I took the OTE that followed.

At a point it will retrace but guess until then down it is. 1.356 and 1.348 would then be my best hopes for bounce / retrace.
 

Simr

Well-Known Member
Well one cant know whether price is going to meander there or react ... you just buy the dip as per the rules.... I simply didnt take it becos of the bias downward... But that too can be questioned... if one sees the order block ... m15...and looks left at 28 may LO.

So point still is ..apart from the gut feel... which i used :).... how does one know.... that SD zone..orderblock zone... initial move down...big figure.... time etc... are to be ignored... or not.

slugFX said:
There was no reaction when price got there, price just meandered there for a little bit so it wasn't a stop raid and the long term bias was down so I wouldn't have and didn't take it either. I was actually looking to get short, but missed the turtle soup that happened around 12:45 GMT or NY open.

EDIT: to add to that, another way to have confidence if it will work or not is when other bullish order blocks are also being respected in the past few days. have they been? no. the bearish ones have.
 

slugFX

Well-Known Member
I don't know if I have a good answer that will satisfy your question other than what I have already said, but I would put it this way:

Buying London open in Fiber today was like trying to catch a falling knife. If you are expecting a retracement, then I would sit on my hands until I got that retracement.

I am not at the charts right now, but you mentioned that it was a 15 minute order block. I would not pay attention to these unless it is nested inside a 1 hour or higher order block.

Simr said:
Well one cant know whether price is going to meander there or react ... you just buy the dip as per the rules.... I simply didnt take it becos of the bias downward... But that too can be questioned... if one sees the order block ... m15...and looks left at 28 may LO.

So point still is ..apart from the gut feel... which i used :).... how does one know.... that SD zone..orderblock zone... initial move down...big figure.... time etc... are to be ignored... or not.
 

Tarri

Well-Known Member
Note the AUD/USD at this moment:
1) in 3 std
2) divergence with kiwi
3) punctured daily resistance
4) in an OTE from .9335 minor high

Confirmation for me would come at break of .9274 as this would break MS.

Against: 9 over 18 on weekly.

I took this short nonetheless
 

sqa

Village Scribe
Tarri said:
How do you spot a Z-day early on? fiber and cable look like that is what will be happening
As far as I "see" them ahead of time, the Price Action in CDR & Asia looks "choppy" and "wide".

This is one of ICT's visual skills that he's not been able to explain too well, yet. But, I know for the USDJPY, I start expecting it when the CDR starts getting bigger. (With exceptions, like a big trend day will produce a Profit Release during the CDR) Then when the Price Action just starts meandering through a Session.

It's basically that weird spot between "moving to a certain Price" and "tight consolidation". And effectively all News Days are Z-Days, as they'll take both sides.

Because of low volatility, we appear to see a whole lot more of them lately.
 
Status
Not open for further replies.

Top