Current weekly bar is an inside bar and being ity appears buy stops have been neutralized there just might be a run for sell stops. Being that the daily is showing no close above a certain threshold, perhaps I have read it right. Half a % on the table.
As mentioned in the video, it is important to have a quick look at the weekly chart as it often gives clues on the potential direction for the up and coming week. At least this is how I see it. I discuss the concept of compression and how it offers some nice clues as well.
Credit to influences: ICT and RTM.
Wasn't really looking to go short until I saw the close on the daily chart last night just before London by a few hrs. Interesting, though to see how one feed from Oanda shows something entirely different than another feed. Not a bad idea to use two different feeds to get some confirmation.
The daily uptrend is pretty well established and price broke above a pretty clean resistance area and then tested the trend line with good rejection. Price broke the prev daily high and closed above the last down candles EQ (50% rea) with what appears to be possible buying Risk is 1%
In this vid I point out that we could see a breach of the most relevant low at some point, which is quite near the 62% retracement area of the larger timeframe parent structure. It's interesting that the low and the 62% area are about 20 pips apart, which seem to meet the pip grade concept that ICT so eloquently fleshed out.
Daily trend is down price came up and triggered my alert early on the 17th to go short, didn't see any clear rejection. Price sold off eventually and came down and cleared the daily gap, retraced then showed very clear direction toward the end of the trading session. After what appeared to be a stop hunt of the initial alert retest, price seems to be showing signs...
Daily trend is down price came up and triggered my alert early on the 17th to go short, didn't see any clear rejection. Price sold off eventually and came down to and cleared the daily gap, retraced then showed very clear direction toward the end of the trading session. After what appeared to be a stop hunt of the initial alert retest, price seems to be showing...
Took trade off daily chart as price came down below the inside bar cluster with clear rejection and a curvy bottom. The H4 also produced a second retest with a higher low and clean rejection. Aiming for internal high and a partial take profit at next highs - risk a little over 1%. Stop below newest inside bar low.
Price is contending with the a group of weekly down candles and its 50% area. Seeing the consolidation below the EQ (50% area) was a nice clue. We shall see if price can get up the prev weekly high, which we know there will be resting BUY STOPS!