Scout Sniper Basic Field Guide - InnerCircleTrader

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In Scout Sniper Part 3, Michael gave examples of market maker buy/sell programs specifically at support resistance levels.

I was familiar with the basic concept but not how to apply it usefully.

Are we simply looking for accumulation before we reach Support/Resistance and then at the Support/Resistance level or is there more to it?

How do you apply the concept in your trading?

Many Thanks In Advance
 
Here's a question for you;

Is there any reason not to have taken a short in the last consolidation?

EURUSDSellmodelFail_zpsc6041e4f.jpg
 
Tansen said:
Well for one, what is market structure saying?
Click to expand...

Ok, so if thats the case, which Im sure it is, how do we position ourselves within the accumulation portion of buy/sell model tops and bottoms?
 
EURHUF

Does anyone else see the possibility of a major sell off about to occur in this pair? my own market structure tells me this is possible, i have just gone short the pair with a tight stop on a Judas swing
 
i dont know... but im looking for short EUR at July's high at 1.33450 which is OTE from last months high to this months low.
Also noting the break in market structure and still bearish seasonal tendency.
eyeing one last push down to the 1.2950-ish level . who knows lol..
 

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kongzz said:
i dont know... but im looking for short EUR at July's high at 1.33450 which is OTE from last months high to this months low.
Also noting the break in market structure and still bearish seasonal tendency.
eyeing one last push down to the 1.2950-ish level . who knows lol..
Click to expand...

Yea there is also a yearly high and yearly low around the July high to in Euro. Im watching for a sell off in USDHUF to, Hungary cut its interest rates to its lowest level just last month, the pair in a squeeze now, its gonna bust out big somewhere, im looking for set ups to the down side, if they start
 
kongzz said:
i dont know... but im looking for short EUR at July's high at 1.33450 which is OTE from last months high to this months low.
Also noting the break in market structure and still bearish seasonal tendency.
eyeing one last push down to the 1.2950-ish level . who knows lol..
Click to expand...

I am tracking the same move ;)
 
foreigner said:
Ok, so if thats the case, which Im sure it is, how do we position ourselves within the accumulation portion of buy/sell model tops and bottoms?
Click to expand...

Well remember the game is to ID these moves before and while their in progress. Not all the concepts will line with each other like this bullishness is being contradicted slightly by bonds and the COT is in line with it at least for the GBP side. If anything the EUR is and should be more of a mixed sentiment. However with the idea of the buy and sell models is usually that of if your already in the position and this plays out or if you theorize that it should start moving up but it does nothing the way your going to position yourself is by watching for particular setups to play out.

Such as Buy, your looking for asia low sessions to be swept out especially if its in an accumulation phase.

Such as Sell, your looking for asia high sessions to be swept out especially if its an accumulation phase.

As far as seasonal tendencies go remember he said use the tendencies IF they are in line with something that has occurred in the past and is generally acting the same.
 
Looking at a long on AUDUSD off last month's high at 0.92300 level

1) ICT Stinger on 4H chart
2) USDX SMT divergence on the hourly
3) bullish market structure and flow
4) Commercials still extreme net longs
5) short term bullish yield divergence (Aus lower low, NZD higher low)

HTF Trade, hopefully im doing it right...

*Update: 50% out at +30 pips. SL@ BE+2
 

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foreigner said:
Sup Kongzz, could you show me the short term bullish yield divergence?
Click to expand...

NZD making higher lows while AUD and USD 10 yrs making lower lows.... in hindsight, should have taken the NZD instead as yield on NZD were rising.
NZD also traded into previous month highs at 0.8100~ level.
 

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Re: Turtle Soup sell off?

Jack said:
I'm actually still a bit new to ICT's stuff... and I've heard many people mention 'turtle soup' setups before. Tansen even showed me a few... but I must ask:

What does turtles and soup have to do with it?

Also, could anyone provide a few solid examples of the setup?
Click to expand...

_______________

Hey Jack! ;)

The legends goes something like this... once there was a Trader who felt he could teach anyone how to Trade profitably. He collected a few average folks and guided them and after some time... they went on to make over 400 million dollars. He named these Traders the Turtles.

The Turtle method is essentially this:

Buy a 20 day high and Sell a 20 day low. You are always in the market. It captures the big trends and those pay for the plethora of losing Trades.

The book titled: Street Smarts by Linda Raschke and Larry Connors details a short term Trading pattern they dubbed the Turtle Soup... as it turns out 20 period [pick any timeframe] breakouts generally produce many false breakouts.

Hence... the Turtle is cooked in his/her "Soup". I love this pattern and consistent winner in my Black Book of Munitions.

Examples you ask... why certainly...
 

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Re: Turtle Soup sell off?

InnerCircleTrader said:
_______________

Hey Jack! ;)

The legends goes something like this... once there was a Trader who felt he could teach anyone how to Trade profitably. He collected a few average folks and guided them and after some time... they went on to make over 400 million dollars. He named these Traders the Turtles.

The Turtle method is essentially this:

Buy a 20 day high and Sell a 20 day low. You are always in the market. It captures the big trends and those pay for the plethora of losing Trades.

The book titled: Street Smarts by Linda Raschke and Larry Connors details a short term Trading pattern they dubbed the Turtle Soup... as it turns out 20 period [pick any timeframe] breakouts generally produce many false breakouts.

Hence... the Turtle is cooked in his/her "Soup". I love this pattern and consistent winner in my Black Book of Munitions.

Examples you ask... why certainly...
Click to expand...

Ahh... a turtle trader reference. I should have realized that but my mind was focused on the soup part (and as a foodie, I started wondering if turtle soup would taste good and what it would go with. lol...)

Thanks! :)
 
Hi Michael,

I have been trying to figure out something for a while now , but somehow still not got the answers , atleast not convincingly.

JPY futures. When we see net longs on COTS ( and they have been since Nov 12 ) for JPY futures , does that imply USDJPY or JPYUSD ? I ask cos , in all yen pairs the JPY is in the denominator , which means as JPY futures move up , they should move down .

Or am I missing something here.

thanks
 
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