Scout Sniper Basic Field Guide - InnerCircleTrader


Peterma

Well-Known Member
Oh - meant to add, like yesterday, price was still inside the previous day's range so reasonable to run a fib from the low to high to ascertain likely fall back point - OTE

As Kuzia said - there was no real reason for the pull back so up it went.
 

jupiter_peak

Well-Known Member
Peterma said:
Oh - meant to add, like yesterday, price was still inside the previous day's range so reasonable to run a fib from the low to high to ascertain likely fall back point - OTE

As Kuzia said - there was no real reason for the pull back so up it went.
Great job there buying the dips.

I believe that MMs have driven price up in order to invoke enough buy orders to make a move lower. That trend line ( am not a big fan of them) is screaming to be broken as it already have 3-4 touches on it and the "kiss of death" seems imminent. So look out for a drop in price that might happen as soon as tomorrow eventhough there is no big upcoming news.

If one looks at the bigger picture (daily) on both fiber and swissy, it's noticeable a retrace towards the 79.0 level + order block which happened yesterday. Therefore, market flow and bias are still aligned southward and a much higher probability for short moves.

Watching the upcoming chapters.

Cheers to all and happy trading.

http://my.jetscreenshot.com/14448/20131114-bp0t-132kb.jpg
 

kongzz

Well-Known Member
Looking to short fiber again due to the bearish structure and flow. heres the setup i am stalking today.

priced entered daily order block and HTF OTE.
zooming down into the 15M chart, watching for a judas swing up to previous monthly lows to act as resistance(1.3470) which coincides with OTE and MR1 sell zone. Also noted a power of 3 fractal forming on the daily chart + bearish momentum.

note the key CPI news release today which will be a major catalyst for stimulus/QE speculation in the eurozone which could be potential catalyst for a down move on the EUR.

*is that a bear flag forming on the dailies?
 

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Peterma

Well-Known Member
Yeah, the interesting thing is that fibre failed to make a new high on thurs, so that means there is a short term swing high formed on wed ( wed is higher with a lower high each side of it)
Nothing big on calendar for today so could slowly fall down - meaning high of week formed on wed.
Mondays and Fridays can be more difficult to trade.
 

Peterma

Well-Known Member
Friday almost over - not much profit taking or sqaring - just business as usual, sixth hit on the sloping trend line.

More of the same on Mon?
 

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Peterma

Well-Known Member
Btw, the 'system' that I'm working on was telling me to sell this morning, one of it's filters is to take account of any horiz or sloping s/r lines - so no sell because of that line (the one that I was harping on about this last couple of days :)

Shows the value of system filters.

I'm judging a buy signal on Mon but won't know until LO - next line up is 3540 and then 3580.
 

cskrishna

Well-Known Member
Hello All,

I got into FX through a friend a couple of years back. Incidentally I came across ICT in the very beginning days of learning FX. I tried very little live account then came back to demo. I am presently going through the most recent series which is amazing. Thank you ICT.

One quick question: In one of the videos ICT explains Triple screen. Anyone remembers which video is that?

Thank you so much.

Csk.
 

fred9455

Well-Known Member
cskrishna said:
Hello All,

I got into FX through a friend a couple of years back. Incidentally I came across ICT in the very beginning days of learning FX. I tried very little live account then came back to demo. I am presently going through the most recent series which is amazing. Thank you ICT.

One quick question: In one of the videos ICT explains Triple screen. Anyone remembers which video is that?

Thank you so much.

Csk.
Try this link http://fxgears.com/forum/index.php/topic,55.msg335.html#msg335
 

Sage1

Active Member
Good Monday all, so last week I was able to make my goal of 5%. This week, so far I have 1 trade open on GBP/USD. It's a short from key Resistance at 1.6120. Up 14 pips for now. TP is at 1.6050-1.6020. The reason why is because Market Structure has been broken to the upside. So I want to short down to 1.6050-1.6020 and long from 1.6020 up... A bit of advanced trading here, we will see what happens.

SMT diveregence on hourly as well, EURO made a higher high and POUND didn't.
 

Peterma

Well-Known Member
Peterma said:
I'm judging a buy signal on Mon but won't know until LO - next line up is 3540 and then 3580.
3540 now gone, suspect a fall back to maybe to 3480, then a push for 3580 - but as usual the AS will tell us more.
EU news at 10.00 gmt, so that may provide a little oxygen for any move.
 

Peterma

Well-Known Member
Oh no, not that pesky trend line again !!! - sorry guys :)

Number 7 hit on the 1 hour. Why I started to harp on about that line last week - ICT, in the older videos, would often suggest to try and 'see' where price was trying to 'reach' to - to look for 'clean' areas.

There were two such areas - 3540 and 3580. 3540 was always going to provide a reaction - the strength of that reaction is critical, to me it looks subdued so 3580 could still be in their sights.

When I first saw that line it suggested to me that price was 'reaching' for 3540 - a visual aid so to speak.

For this reason I would not trade through the line.

First chart is the line extended to include today - the second is exactly same chart only zoomed in on the 5min today.
 

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Tarri

Well-Known Member
Hi Peterma,

I understand the 1.3540 level (order block) and managed to squeeze some pips from shorting it during LO this morning but what's the importance of the 1.3580 level except it being institutional?

Would actually consider 1.3620 more relevant as bias is still for down and this is daily ote zone.

Thanks in advance.

Cheers,
Tarri
 

kongzz

Well-Known Member
EUR seems like it wants a deeper correction, however, looking at the GU. price has traded into daily order block + OTE + broken daily MS with William% being very overbought on the daily.
will be watching for potential shorts.
 

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kongzz

Well-Known Member
Using hidden OTE concept, applying fibs from the previous swing low to 1.365, 1.368 and 1.37.
The overlapping area is indicated by the blue box which we traded into. potential for the high of week to be formed?

i dont know, will be waiting for a break in market structure on the LTF
 

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jack

Administrator
Staff member
Tarri said:
Hi Peterma,

I understand the 1.3540 level (order block) and managed to squeeze some pips from shorting it during LO this morning but what's the importance of the 1.3580 level except it being institutional?

Would actually consider 1.3620 more relevant as bias is still for down and this is daily ote zone.

Thanks in advance.

Cheers,
Tarri
Welcome to the forum Tarri :)
 

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