Scout Sniper Basic Field Guide - InnerCircleTrader

FTMO Trader Scouting
foreigner said:
Do you also look for divergence in the bond quads or just strength and weakness with open interest/COT?

Cheers
Alex

I primarily look at the quad mainly because what happens there SHOULD signify large or crucial changes to come but it's one of those things that you take as you go, you have to make an educated guess sometimes like why the hell are bonds moving higher when the cot is net long? What's the underlying factor? It can be anything a huge technical level, some weird fundamentals.

You make an assumption on what the market might do and you use those to convince yourself
 
Thanks again jinirav75,

You're information is really useful. To be honest I don't know enough about the SMT Divergence theories though, so need to do a bit of homework there ;)
I'm just glad I was able to see the market down turn before it happened - baby steps, baby steps :)

Thanks again
A
 
ams_trades said:
Thanks again jinirav75,

You're information is really useful. To be honest I don't know enough about the SMT Divergence theories though, so need to do a bit of homework there ;)
I'm just glad I was able to see the market down turn before it happened - baby steps, baby steps :)

Thanks again
A

We are all still learning, even the experts. Just keep it up!

PS. You are 1 post away from being able to post unrestricted. :)
 
Hi all
Hope we have answered the questions ICT asked us in his first video. In case, you want to recap, please see the questions he asked us and I am sure we all have tried to answer these in various posts above.

1. What repeating price pattern was ICT showing in the first chart example

2.On the second sample data from 01 July 05 July - Mark every swing point that occurred, what specific time of day the turning points and the high and low of the day occurred

3.What was the direction of which made the most in terms of pips

4. Obviously it's been a down move but what characteristics was synonymous with every single turning point

Hi ICT, Looking forward to the second video and no words to say thanks for sharing your 2 decades of insights free!
 
Aww shi-..! New video dropped. :)

An hour and a half.. wow!
Hats off to you on the hard work you've been putting into these videos.
 
Looks like a sweet short setup for the Euro,


Again, don't follow what I always have to say I get things wrong, do your own research!
 
This is a trade I have put in for tonight if it triggers. This is my first trade posting on here. Let me know what you think. Thanks!

https://login.mql5.com/data/1/174491_1/audusdmonthly.png

https://login.mql5.com/data/1/174492_1/audusddaily.png

https://login.mql5.com/data/1/174493_1/audusdh1.png
 
These are also my thoughts on the USDCAD, I may be way off base, not sure.

https://login.mql5.com/data/1/174520_1/usdcadmonthly.png

https://login.mql5.com/data/1/174521_1/usdcaddaily.png

https://login.mql5.com/data/1/174528_1/usdcad1hour.png
 
jaf1984 said:
This is a trade I have put in for tonight if it triggers. This is my first trade posting on here. Let me know what you think. Thanks!

https://login.mql5.com/data/1/174491_1/audusdmonthly.png

https://login.mql5.com/data/1/174492_1/audusddaily.png

https://login.mql5.com/data/1/174493_1/audusdh1.png

Hey Jaf,

Assume you're short from 50?

I have no opens on AUD @ this moment but I wouldn't be surprised if AUD made a run for parity on aussie buck pair.
Will be plenty of two way action and that's all that matters :)
 
I really enjoyed episode 2. Thanks, ICT.

It was long, but gave me more insight on price action and an understanding of the market maker business model.

Today's setup:

After studying the EUR/USD daily and noting key support resistance levels, the following is the trade setup that I have in mind.

- I want to trade with the daily bullish market flow.
- I want to trade BELOW the sell stops that would have have collected from longs during the asian session and following the rally.
- I want to use the 79% retracement level since it shares confluence with a key level. There is also confluence with the 1.3350 institutional level.
- 30 pip stop

TP: 1.3410
 

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can someone please explain what ICt meant by the phrase (in vid 2 about 1.05 in), whenever u have a large range bar, large candles do not usually work both sides of the opening of that candle. - What does this mean? Can someone post a picture of what he means?
ty
 
ArtificialTrader said:
Today's setup:

After studying the EUR/USD daily and noting key support resistance levels, the following is the trade setup that I have in mind.

- I want to trade with the daily bullish market flow.
- I want to trade BELOW the sell stops that would have have collected from longs during the asian session and following the rally.
- I want to use the 79% retracement level since it shares confluence with a key level. There is also confluence with the 1.3350 institutional level.
- 30 pip stop

TP: 1.3410
Market structure is bullish intraday, HOWEVER, we are at a potential turning point on the higher time frame given Thursdays Lower low.

From what I can see, They are half way through a weekly market maker sell model plus half way through a daily MM sell model that began on Thursday.

They have ALREADY tested the 3400 figure so why would they do it again!

I have noted three types of turn on the daily, the engulfing type where the market doesnt look back, the double tap type where they go after stops at the high before reversing and finally the nice text book swing high with clearly visible lower highs either side.

Which of these could apply at in the moment?

At some point the buy models have to fail or the market would be permanently bullish. At some point the traders who trade the short side of market maker sell models will take control and a down trend will commence.

If you consider the recent down swings as half of MM buy models, would it not make sense for them to fail if we are in fact making a fractal swing high!

Just a thought.
 
foreigner said:
Market structure is bullish intraday, HOWEVER, we are at a potential turning point on the higher time frame given Thursdays Lower low.

From what I can see, They are half way through a weekly market maker sell model plus half way through a daily MM sell model that began on Thursday.

They have ALREADY tested the 3400 figure so why would they do it again!

I have noted three types of turn on the daily, the engulfing type where the market doesnt look back, the double tap type where they go after stops at the high before reversing and finally the nice text book swing high with clearly visible lower highs either side.

Which of these could apply at in the moment?

At some point the buy models have to fail or the market would be permanently bullish. At some point the traders who trade the short side of market maker sell models will take control and a down trend will commence.

If you consider the recent down swings as half of MM buy models, would it not make sense for them to fail if we are in fact making a fractal swing high!

Just a thought.

In fact, I agree with all this. My gut told me that a reversal was possible for some of the reasons you mention (especially with the textbook swing high).

I think at this point in my trading career, spotting a reversal is more difficult for me then just trading with the higher time frame trend.

I almost didn't want to put in this limit order BECAUSE of the reversal signals. A professional trader would probably have backed away from the computer.

But to promote discussion and illuminate some of the potential errors in my reasoning, I wanted to post this trade setup.

;D
 
dekk said:
can someone please explain what ICt meant by the phrase (in vid 2 about 1.05 in), whenever u have a large range bar, large candles do not usually work both sides of the opening of that candle. - What does this mean? Can someone post a picture of what he means?
ty

I stopped the video and had to pause / think about this also. From my understanding, if we have a large bar, this implies dramatic price movement (price really wants to move somewhere fast) so typically a single candle will more than likely contain a close that is far away from the open for that candle, and in that way it works "one side of the candle".

Is this right?
 
Guys, ICT mentioned that he typically uses a 30 pip stop.

Can somebody explain why?

I have been using 10-20 pip stops with TP targets that are usually 30-50 pips from order entry.
 
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