Scout Sniper Basic Field Guide - InnerCircleTrader

P

Piper

Guest
Tansen said:
If I were you guys, I'd be paying more attention to the GBP/USD if your looking for longs ..
Thing is I am more likely to bet that the GBP will edge higher into OTE plausibly higher and I will likely be betting on the GBP vs the EUR MOST DAYS not every day..
Some very valid points indeed,and great insight,i wish i would start sooner with this scene and had your experience..
Although very lately(only this week) an idea of benching the the cable and fiber for more likely bull or bear scenario,came up with a new smt idea.After you gave the feedback in my journal about the bull pound,the whole thingy rolled a bit in the back of my mind,till a tiny lightbulb jumped out above my head.
Its not a great discovery and very generic,i bet a lot of ppl tought about that.Started to back test a few hours to bench both via the EUR/GBP too,not just usdx. The results were pretty mind blowing.If i would think of that before,via generic market move, pretty much everyone could nail which pair to trade up or down respectively.
Altough i haven't found cot data for it, its not needed badly.

Cheers,
Piper
 

Tansen

Well-Known Member
Piper said:
Some very valid points indeed,and great insight,i wish i would start sooner with this scene and had your experience..
Although very lately(only this week) an idea of benching the the cable and fiber for more likely bull or bear scenario,came up with a new smt idea.After you gave the feedback in my journal about the bull pound,the whole thingy rolled a bit in the back of my mind,till a tiny lightbulb jumped out above my head.
Its not a great discovery and very generic,i bet a lot of ppl tought about that.Started to back test a few hours to bench both via the EUR/GBP too,not just usdx. The results were pretty mind blowing.If i would think of that before,via generic market move, pretty much everyone could nail which pair to trade up or down respectively.
Altough i haven't found cot data for it, its not needed badly.

Cheers,
Piper
I've experienced failure lol.

Well the worse thing you can do is hinge on that one thing I said when its a plethora of things that came and lined up so I wouldn't get fixated on it just be aware of these types of scenarios
 

jinirav75

Well-Known Member
Hi all

MMP Sell Model

Thought I'll share my little knowledge on MMP models. I am keeping an eye on EURUSD price action these days and I can see a MMP Sell model is in progress. Please refer price action from 15th Aug to till date and we have formed a high yesterday (Weekly high on a Tuesday) and now starting to retrace, not sure what will happen to this price pattern after the FOMC tonight but I suspect USD to go higher. COT showing EURUSD net short slightly and there is also USDx-Eur SMT divergence in place too. I would be thankful to those who can share their thoughts as well.
 

Kuzia

Well-Known Member
Yes I agree with Jinirav what Mike is showing us in his latest video is MM profile sell model. And taking in consideration that we bounced of Weekly Resistance level it looks even better. However in my trading plan I don't trade against MS till it breaks and Commercials are still net short... I know that S&R trumps everything but I also know that trend is my friend :p any suggestions?
 

Shaan

Member
Hi guys. my first post ever. been following ICT and his concepts for some time. I am in the same boat as Kuzia and jinirav75. fiber does look like to be preparing for MM sell model. apart on usdx/eur, divergence can also be seen on daily fiber/cable as well as on daily (17th June - 20th Aug) and H4 charts with stochastic. apart of that I am also looking at USD/CHF which technically looks extremely bullish i.e. confirming strong US dollar in next few sessions. Any thoughts are most welcome.
 

jinirav75

Well-Known Member
So now we have MS in our favour too! In anticipation of this price action I sold Euro @ 1.3387 and aiming to close around 1.3230 level and IMHO this is the price level MMP sell model started it's operation. Thoughts?
 

ams_trades

Active Member
jinirav75 said:
So now we have MS in our favour too! In anticipation of this price action I sold Euro @ 1.3387 and aiming to close around 1.3230 level and IMHO this is the price level MMP sell model started it's operation. Thoughts?
Hi jinirav75,

I'm interested in learning what you used as your entry signal to enter at that price. I see a possible OTE drawn from high (1.3408) to low (1.3354)?

Cheers
 

Pipoholic

New Member
good morning everyone,
I just wanted to come on and introduce myself. I have been trading for a little while but just recently stumbled across ICTs stuff. What little I do know seems to align with the way he trades so I am very excited about learning all I can. Also from what I can tell this seems like a great group to trade with and get to know. I only really get to trade full time 2 days a week. Wednesday's and Thursday's I work from home and trade the London and NY sessions. I look forward to getting to know everyone and happy trading.

I just finished the first lesson for the scout sniper guide and I took an image of the july 1 - 5 section Michael was talking about as an exercise. I have added that to this post with my notes on it. Please feel free to correct or comment on any notes I have made or more importantly missed. not really sure how to add a link so I hope it shows up.
-Pipoholic

http://www.mql5.com/en/charts/671798/eurusd-h1-oanda-corporation
 

jinirav75

Well-Known Member
Hi ams_trades
My entry was based on SR concept basically. I found weakness on this HTF resistance level. This price level was also a previous swing high formed on 08 Aug 2013 where the price started retracing on a previous MMP sell model (Ref Price action from 02 Aug to 15th Aug and I have attached a chart). Still watching the current price action and looks good so far! Thanks



ams_trades said:
Hi jinirav75,

I'm interested in learning what you used as your entry signal to enter at that price. I see a possible OTE drawn from high (1.3408) to low (1.3354)?

Cheers
 

Attachments

Tansen

Well-Known Member
jinirav75 said:
Hi ams_trades
My entry was based on SR concept basically. I found weakness on this HTF resistance level. This price level was also a previous swing high formed on 08 Aug 2013 where the price started retracing on a previous MMP sell model (Ref Price action from 02 Aug to 15th Aug and I have attached a chart). Still watching the current price action and looks good so far! Thanks
That's actually not bad, you may even have an opportunity to scale in pending the early week rally was just an opportunity to get short
 

jinirav75

Well-Known Member
Thank you Tansen. In the sell rally, there were several opportunities to scale in and to book profit. The price is now consolidating and forming the right shoulder of a HS pattern and then a deep retracement should follow forming a down leg. Probably the Euro news tomorrow may have this effect. Fingers crossed!
 
Hey guys,

Just wanted to introduce myself.

I used to follow ICT's methods about a year ago, but kind of fell off the wagon.

The "Law of Attraction" brought me back.

I'm excited to participate/contribute to this thread. ;D

Thanks!

Good luck and good trading!
 

ams_trades

Active Member
Thanks jinirav75,
I really appreciate the explanation and screenshot :)
Sorry for another question but what made you feel there was weakness at that level? Only reason I ask is that I was also able to predict a decline in the euro but when I see price trading to a previous SR level I worry it's going to bounce off that level :eek: I'm still pretty green with all the concepts though :-[ Maybe you zoomed into LTF to simply watch price around that level?
Appreciate your (and anybody else's) comments
A
 

jinirav75

Well-Known Member
Hi ams
I noticed 3 four hour candles in red prior to my entry and also there was USDX SMT Divergence to support my bias and I find it as a very powerful tool. I entered at mkt price during LO Kill zone Wednesday @ 8.20 GMT. I also thought weekly high was already formed previous day (Tuesday). Overall the MS still bullish but I was curious to see what will unfold following much anticipated Fed news. Hope this helps.

Hopefully some one more experienced here can provide us more insights and Good Luck and Good Learning!
 

foreigner

Est. 12480 Hours and Counting
Tansen said:
I maybe bullish but I also urge people to watch that US T-Bond quad yield.
Do you also look for divergence in the bond quads or just strength and weakness with open interest/COT?

Cheers
Alex
 

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