Scout Sniper Basic Field Guide - InnerCircleTrader

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sqa

Village Scribe
rod178 said:
Is the "Live Stream 2014-04-28" still available to view or download?

I don't believe he ever actually published that one. There was some problems with the captures on a few, and I think he wanted to save the Options teaching for later in the year.

As for the Precision Trading series, ICT has been saying he's going to be re-releasing a lot of things starting next week. Mostly as a full course/worked together version. Plus, the website redesign at some point... So, might just have to wait on that.
 

sqa

Village Scribe
http://www.youtube.com/watch?v=tQTeDTg6Ck4&feature=youtu.be

CAD discussion. Which finally dawned on me that today is a GDP post for Canada. ICT probably has his Take Profit to trigger where he expects the pair to run. Hehe
 

SLT

Official GDayFX.com Rep
Fiber Slam, market maker profile = NY kill zone = weekly high = OTE = Boom!
 

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Fuzzbuggy

Well-Known Member
GdayFx said:
Fiber Slam, market maker profile = NY kill zone = weekly high = OTE = Boom!

Hi Dan,

Great analysis and forecasting. Can you all take a look at my picture and see if my reasoning makes sense for the short? I try not to trade on Monday's/Fridays.

I am trying to use the open price principle but only focus on the weekly open and see how price moves around that. Simple concept.
 

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SLT

Official GDayFX.com Rep
Fuzzbuggy said:
Hi Dan,

Great analysis and forecasting. Can you all take a look at my picture and see if my reasoning makes sense for the short? I try not to trade on Monday's/Fridays.

I am trying to use the open price principle but only focus on the weekly open and see how price moves around that. Simple concept.

the 2nd of August 2013 is the weekly low the pull back came into, with time and price theory also institutional level 1.31880, setting up a short.
Find all your weekly highs and lows around current levels, then monitor price action into time of day! one can use daily highs and lows, but where do we go when price is swinging so low?
Also, use bodies of the candles opens closes, from big move candles.
Watch this again http://theinnercircletrader.com/Tutorials/Sniper/Sniper_2.mp4

Study the lines on this chart, purple taken off weekly levels, green taken off Monthly levels, black daily levels
 

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the golden gun

RINSE & REPEAT
Fuzzbuggy said:
Hi Dan,

Great analysis and forecasting. Can you all take a look at my picture and see if my reasoning makes sense for the short? I try not to trade on Monday's/Fridays.

I am trying to use the open price principle but only focus on the weekly open and see how price moves around that. Simple concept.

This is probably why you missed the OTE entry. It was a great premise for a short though.
 

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SLT

Official GDayFX.com Rep
the golden gun said:
This is probably why you missed the OTE entry. It was a great premise for a short though.

Nice one!
and this, look at the hidden levels closely! all confluence,
all created from the higher time frame purple weekly high low levels put in place before the fact
 

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cskrishna

Well-Known Member
Hi,

I have a question, can someone please answer me.
This is based on the analysis done my ICT on Aug 19th webinar. There he explained the significance of 1.6740 in the consolidation that happened around Jun first week where smart money accumulates long positions and how the 1.6740 is maintained. I understood this concept.

What I don’t understand is, if they have taken long positions at that piece they would have sold them around 1.7130. When price comes down, whats the interest of the smart money at 1.6740? Why would they sell at that price? How is the later selling related to them buying earlier at 1.6740?

Thank you so much for all your help.

 

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sqa

Village Scribe
cskrishna said:
Hi,

I have a question, can someone please answer me.
This is based on the analysis done my ICT on Aug 19th webinar. There he explained the significance of 1.6740 in the consolidation that happened around Jun first week where smart money accumulates long positions and how the 1.6740 is maintained. I understood this concept.

What I don’t understand is, if they have taken long positions at that piece they would have sold them around 1.7130. When price comes down, whats the interest of the smart money at 1.6740? Why would they sell at that price? How is the later selling related to them buying earlier at 1.6740?

Thank you so much for all your help.


I'm going to be out for a while, but a first stab would be: remember that the Commercials acquire both Longs & Shorts during consolidations. They work by "Net Average Price" or whatever term of art you want to use.

And, what you we were seeing there was more about the major players building up further positions, so they want it roughly around the same price.
 

cskrishna

Well-Known Member
@Sqa, thank you so much for your quick answer.

sqa said:
I'm going to be out for a while, but a first stab would be: remember that the Commercials acquire both Longs & Shorts during consolidations. They work by "Net Average Price" or whatever term of art you want to use.

And, what you we were seeing there was more about the major players building up further positions, so they want it roughly around the same price.
 

cskrishna

Well-Known Member
@Sqa, if you have few minutes, will it be possible for you to explain the point you were saying earlier. This is what I m struggling with: in the example that ICT had given us, how does the price in the grey box influences the trading on the right side.

What I observed after studying charts is that the price during the consolidation does impact the trading that takes place later. I m not able to understand the relating between these two events.

Thank you so much for taking.

sqa said:
I'm going to be out for a while, but a first stab would be: remember that the Commercials acquire both Longs & Shorts during consolidations.
 

sqa

Village Scribe
I'm attempting to take the weekend off, as it's Labor Day here in the States and I have a bad habit of trying to work 7 days a week. So, this isn't "work". ;)

At the basic level, the "why" isn't very important. It's only knowing that it "will" in the future. Each Key S&R develops for a fairly large set of reasons. When we're looking at the Spot FX chart, we're only seeing the current Price in the Spot market. Spot makes up somewhere under 50% of the volume in currencies. The massive part of the market is actually Bank to Client deliveries. That's why market moves are engineered, as the Banks actually take on the Risk from their Sales to Clients, and unwind the amount at a more profitable price.

That doesn't even get into Futures, Swaps, Options, Forwards and I feel like I'm forgetting a few other financial products. There is simply a lot more than Spot Orders stacked up there.

So a set of major actors were collecting Orders at that level previously. So after they ran that level (collecting Orders above it), they let the pair stay there so they could collect more Orders. Once they had their Orders, they moved it back down when the News gave them cover to get the pair moving again.

So, in this case, it's more that 1.6740 was their launching point, after they had collected enough orders before the BoE Governor speech. All of the big moves are engineered; we shouldn't care much exactly what's so important about 1.6740, just that it was. With the information that it is, we're watching what happens to it. In a Trending environment, the "Slam Through, Hover Back, Collect and Slam Again" method happened to be the choice for this one. It's normally going to be a sign of the value of that level.

It's also good to remember that there are massive funds that trade off Weekly & Monthly Charts. There are massive funds in certain Forex markets. Never forget that bit. But we don't really care why they're up to what they do. We just want to ride the Wave with them. That's how you make the huge gains.
 

cskrishna

Well-Known Member
@Sqa, I also live in States and this long weekend I just stayed home and going through the chats of ICT. Thank you so much for taking time and sharing your knowledge.

What I am trying to understand is, when we identify inversion levels in a consolidation then what is our anticipation around those levels in future. What we see in the example given by ICT and other example that I looked around, the inversion price in the consolidations works like an inversion level in the future too and anticipate trades around that level based on the averages.

Thank you once again for your insights.


sqa said:
I'm attempting to take the weekend off, as it's Labor Day here in the States and I have a bad habit of trying to work 7 days a week. So, this isn't "work". ;)
 

Simr

Well-Known Member
Hi Krishna,

No offense but lots of techie jargon in your post.

At the so called ' inversion levels' ...ICT doesnt use that term ... so its best to use what people understand... look for a 30 pip SL.... thts what he has explained in his videos...

Jai Sri Krishna.
 

jupiter_peak

Well-Known Member
sqa said:
I'm attempting to take the weekend off, as it's Labor Day here in the States and I have a bad habit of trying to work 7 days a week. So, this isn't "work". ;)

At the basic level, the "why" isn't very important. It's only knowing that it "will" in the future. Each Key S&R develops for a fairly large set of reasons. When we're looking at the Spot FX chart, we're only seeing the current Price in the Spot market. Spot makes up somewhere under 50% of the volume in currencies. The massive part of the market is actually Bank to Client deliveries. That's why market moves are engineered, as the Banks actually take on the Risk from their Sales to Clients, and unwind the amount at a more profitable price.

That doesn't even get into Futures, Swaps, Options, Forwards and I feel like I'm forgetting a few other financial products. There is simply a lot more than Spot Orders stacked up there.

So a set of major actors were collecting Orders at that level previously. So after they ran that level (collecting Orders above it), they let the pair stay there so they could collect more Orders. Once they had their Orders, they moved it back down when the News gave them cover to get the pair moving again.

So, in this case, it's more that 1.6740 was their launching point, after they had collected enough orders before the BoE Governor speech. All of the big moves are engineered; we shouldn't care much exactly what's so important about 1.6740, just that it was. With the information that it is, we're watching what happens to it. In a Trending environment, the "Slam Through, Hover Back, Collect and Slam Again" method happened to be the choice for this one. It's normally going to be a sign of the value of that level.

It's also good to remember that there are massive funds that trade off Weekly & Monthly Charts. There are massive funds in certain Forex markets. Never forget that bit. But we don't really care why they're up to what they do. We just want to ride the Wave with them. That's how you make the huge gains.

I completely second that. There's a clear consolidation (order block) between the 1.6700-1.6740 levels. If one looks back into the charts, 1.6700 is quite an important level.

The way price left those levels, market makers left a huge elephant footprint there.

Having this in mind I will, most-likely, trade short from those levels knowing that institutions have special interest in defending the 67 round number.

Once 1.6678 is taken out, it will clear warranted buy stops above it and draw retail longs towards the "bull trap" around the 1.6700 level.

Of course, this would be the ideal situation. At least from my perspective.
 

sqa

Village Scribe
cskrishna said:
@Sqa, I also live in States and this long weekend I just stayed home and going through the chats of ICT. Thank you so much for taking time and sharing your knowledge.

What I am trying to understand is, when we identify inversion levels in a consolidation then what is our anticipation around those levels in future. What we see in the example given by ICT and other example that I looked around, the inversion price in the consolidations works like an inversion level in the future too and anticipate trades around that level based on the averages.

Thank you once again for your insights.

The answer you're looking for is "it depends how when & how the level is reached". When the level was reached the last time before the Take Off move, then, obviously, it was about Buying on that level. When we got back to it recently? We wait to see what is happening.

So, it all depends on Time & Price. ;) And the Chart you're working off. Toss up a clean Cable chart, put 1.6700 Line on it, and then hit the Monthly Chart. You'll see what I mean.
 
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