ADR 1050 *.33 = 36 Pips
Sorry, I have posted a lot of charts lately, they are mainly for my private review later.
All my recent charts are based on ICT theory. http://innercircletrader.com / Michael J Huddleston. He provides free tutorials and lessons.
A Judas swing in this theory is simply a stop raid.
Here you can see that I plotted a move of 36 pips both Short and Long. Because I do know know which way the Algos might do their morning stop raid. Also note this is a Friday and we dont always see stop raids done by the Algos at all, which in fact we didnt. If you look back through my charts you see more Judas swings, sometimes to the Pip!
We take the last 5 days Average Range and multiple by .33 - this gives us the days potential Algo stop raid on the previous days stops that often occurs leading into London Open. Sometimes an hour or two before.
Hope this helps somewhat.
My S&R are based on Fractal Swings only. Weekly, Daily. I do not just grab levels by eyes. They must be swings.
Lastly, you can see some red boxes on this chart. They are Order Blocks. ICT teaches how to identify smart money, institutional money, commercial, large spec - making moves in the market.
ICT Theory is awesome, highly recommend you check it out, along with some of Michaels other students on Twitter. DragonFly for instance.
The order blocks, I agree, are important signals of accumulation or distribution. Horizontal levels are way more telling for me, than trendlines. In that respect, we are looking at similar things.
I don't trade such short timeframes though, so I'm not a victim of stop raids, nor I profit from them :)
About swings and fibonacci, I will often look for the 50 and 75% fibonacci level of very strong individual bars in the timeframe I'm working on.
I never got into ICT's material because I'm not patient enough for videos, and I was already studying with Tim. There's no written material that I know of, at least there wasn't when I looked at it a long time ago.
You can post private ideas, if you want to keep simple things in check, I do that, instead of posting public charts, unless I have a more developed trade idea that I want to share.
Have you worked on analyzing any other pair or only ICT's favored cable, fiber and dollar index?