Brief explanations
I form my narrative based on ICT concepts, I form my entries based on the free Phantom Trading content. My appraoch is based on my understanding of these concepts, which may not be objectively correct according to their teachmgs, but it's what works for me
Premise: M1 flow - Typically I look to trade M1 flow in line with M15 flow, but not always
HTF AOI: W to M5 - Since I trade on the M1, I consider anything M5 or higher to be a higher time frame
Markets: DXY, EURUSD, USDCHF - I choose EU and UF due to their correlations with the dollar index. EURUSD has the best inverse correlation, USDCHF has the best direct correlation of all the majors
Minimum Risk to Reward Ratio (RRR) 3.2 - This gives me around 3R and should about cover commissions.
LTF Confirmation entry method
Liquidation - price liquidates a level on the M1 (bonus for HTF liquidation)
Mitigation - price mitigates a HTF level, in the form of a return to supply/demand or a raid of liquidity
CHoCH - price changes character by breaking above supply in a downtrend or breaking below demand in an uptrend
SD/DS Flip (supply to demand, demand to supply) - in an uptrend, price reacts to a level of demand, fails to create a higher high, and breaks structure to the downside (DS Flip) ; in a downtrend, price reacts to a level of supply fails to create a lower low, and breaks market structure to the upside (SD Flip)
FVG (Fair value gap) - added confluence if there is unmitigated imbalance associated with the entry level
My favorite setups are just my favorite presentations of the setup, there are a number of other factors that can shape the setup. The important thing for me is that I pay attention to the narrative the pattern is telling me, instead of simply trading the pattern. Understanding the narrative behind the patterns adds edge to my discretion and often helps me stay out of less probable trades/trading areas.
I will be posting a video to youtube that includes an oral summary of what is presented here, I will post an update to the idea when the video is released (this coming Sunday, 2 Jan 2022).
I form my narrative based on ICT concepts, I form my entries based on the free Phantom Trading content. My appraoch is based on my understanding of these concepts, which may not be objectively correct according to their teachmgs, but it's what works for me
Premise: M1 flow - Typically I look to trade M1 flow in line with M15 flow, but not always
HTF AOI: W to M5 - Since I trade on the M1, I consider anything M5 or higher to be a higher time frame
Markets: DXY, EURUSD, USDCHF - I choose EU and UF due to their correlations with the dollar index. EURUSD has the best inverse correlation, USDCHF has the best direct correlation of all the majors
Minimum Risk to Reward Ratio (RRR) 3.2 - This gives me around 3R and should about cover commissions.
LTF Confirmation entry method
Liquidation - price liquidates a level on the M1 (bonus for HTF liquidation)
Mitigation - price mitigates a HTF level, in the form of a return to supply/demand or a raid of liquidity
CHoCH - price changes character by breaking above supply in a downtrend or breaking below demand in an uptrend
SD/DS Flip (supply to demand, demand to supply) - in an uptrend, price reacts to a level of demand, fails to create a higher high, and breaks structure to the downside (DS Flip) ; in a downtrend, price reacts to a level of supply fails to create a lower low, and breaks market structure to the upside (SD Flip)
FVG (Fair value gap) - added confluence if there is unmitigated imbalance associated with the entry level
My favorite setups are just my favorite presentations of the setup, there are a number of other factors that can shape the setup. The important thing for me is that I pay attention to the narrative the pattern is telling me, instead of simply trading the pattern. Understanding the narrative behind the patterns adds edge to my discretion and often helps me stay out of less probable trades/trading areas.
I will be posting a video to youtube that includes an oral summary of what is presented here, I will post an update to the idea when the video is released (this coming Sunday, 2 Jan 2022).