"ok folks"
ICT Theory from a student in practice.
Week 43
Last week, calender week 43, we took 180 Pips with a 30 pip Stop Loss.
Of course we layered the orders on more and more as we saw confidence and confluence building.
We played perfectly with the daily bearish order block over and over, each time respecting it. Look at the long wicks on the tops of the candles extending in the Daily -OB.
Our confluence was:
Week 44
This week you should note the Weekly Support below us at a "rounded" 1.53
You can now look for a reversal retracement, last week we looked for a bearish retracement FIB, now you could look for a swing low to swing high bullish retracement oh and oh my look where the 70.50% and the 79% land us?
They land us on a Bullish Daily OB.
During last week a daily Bearish OB was left behind, as was quite a bit of liquidity as guessing the downturn was predictable by the masses apart from the nice spike up and stop run they used to kill a lot of people who didn't manage to get in the top with a decent SL.
My play would be: Watching the Weekly Support below at around 1.53, diving into the low time frames to establish order blocks on those STF to trade my way to hopefully the bearish OB above us where I will search for another optimal trade entry (OTE) down to the 1.525 - 1.52 Level for the longer term play.
Fundamental News for this pair:
GLGT - Good Luck and Good Trading.
Stay safe and always wear protection :)
ICT Theory from a student in practice.
Week 43
Last week, calender week 43, we took 180 Pips with a 30 pip Stop Loss.
Of course we layered the orders on more and more as we saw confidence and confluence building.
We played perfectly with the daily bearish order block over and over, each time respecting it. Look at the long wicks on the tops of the candles extending in the Daily -OB.
Our confluence was:
- USDX recurring retracement and prediction of a spike down before big bullish reaction
- Cable Daily Bearish Order Block sat right on Weekly Support and OTE swing retracement.
- Lots of liquidity sat below us.
- Recurring signals and flags that the order block was being respected.
- EURGBP was taken into a nice pattern allowing both EU and GU to complete their moves.
- Fundamental news was predictable and timely.
Week 44
This week you should note the Weekly Support below us at a "rounded" 1.53
You can now look for a reversal retracement, last week we looked for a bearish retracement FIB, now you could look for a swing low to swing high bullish retracement oh and oh my look where the 70.50% and the 79% land us?
They land us on a Bullish Daily OB.
During last week a daily Bearish OB was left behind, as was quite a bit of liquidity as guessing the downturn was predictable by the masses apart from the nice spike up and stop run they used to kill a lot of people who didn't manage to get in the top with a decent SL.
My play would be: Watching the Weekly Support below at around 1.53, diving into the low time frames to establish order blocks on those STF to trade my way to hopefully the bearish OB above us where I will search for another optimal trade entry (OTE) down to the 1.525 - 1.52 Level for the longer term play.
Fundamental News for this pair:
- GDP for GBP is on Tuesday / expectation mild results.
- FED USD interest rate decision on Wednesday / expectation will be priced in on Tuesday. Low drama with no hike.
- US Jobless Claims on Thursday
GLGT - Good Luck and Good Trading.
Stay safe and always wear protection :)
