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Ictstudent

$EURUSD - 4HR Order Block Sell 2:1 RR (SMT)You have two solid bullish candles from yesterday that did not crack a previous high. The high came after a rejection bearish candle. The two solid bullish candles were over shadowed by two waining bearish candles and one engulfing candle taking us down to the low of the week.. so far. Generally in a weekly structure that looks like this, the actual weekly low comes on a Thursday. With the price gaining ground to entering these two solid 4 hour bulish candles (also bearish order blocks because the price is now below them), the DXY has continuously been gaining bullish momentum, and even though the EUR is the strongest of the currencies, that still doesn't negate the fact that there are very bearish tendencies in this setup. With time nearing in on the EUR open, I wouldn't be surprised to see a quick jump up to start the process as it did last night. I have 1.21000 marked as a safe spot to enter as that is near the low of the order block, However I am expecting it to get at least to the yesterdays Asian Range Low 1.21072 and the 1 hour bearish order block 1.21096. So not much of a window, but that's where I will unleash most of my lots when it reaches that level. While also having varying stop losses to mitigate risk with the highest being just around 1.21325 which is the top of the bearish 4 hour order blocks and 1.21250 which is just above the 1 hour order block. \* See Chart */ I find making multiple variances on entries and Stop Losses help in tremendous ways when mitigating risk, in case the whole trade goes against you, you've relieved some of your lots at an earlier phase but even if it does break that first stop loss threshold and there seems to be a momentum change, you can easily add another position, and gain it back plus some. That's just my strategy on how I play the game. But I could be completely wrong. I mean, what do I know. I'm just some guy that tries to follow smart money theory and apply it to charts and hope that it works. I could be COMPLETELY WRONG. So with that being said Good Luck and Good Trading :) p.s. Trend Lines and Channels are just a by-product price levels combined with time x price theory. They're not real and they you shouldn't rely on them as trading signals.
Short
by BodiesXWix
1
Losing faith in the Dollar $DXYDuring the begginning of the year there was some home for the dollar. it seemed as if we were within reach of making our most competitive currencies such as the British Pound, the Euro, The Franc, and The Canadian Dollar about as close as 1-to-1 as possible. Well Today, I think those dreams are farther than what they could've been. What's the reasoning for the shorting the dollar. Has the fed printed too much thus devaluing the currency as much more is in circulation than needed? Or are people looking for a new raw metal like gold, or are they looking for a completely new system like crypto? If you look at this daily chart, you can see that the dollar did hit an area of previous support, it was actually an order block (a down candle that caused displacement afterward) that was in the middle of the skyrocketing price. It was in June when the price decided it wanted to slide down and down and down and then it finally hit a floor in August it went sideways for the last few months. I thought it would eventually pick back up given certain consequences. Those consequences are now showing and I believe our fiat dollar will no longer be the worlds currency. It has been lower that what it is now, yes I know that. But that doesn't mean it's a good thing. Think about your monitary positioning now, what you will do with the money you have, how will you keep it strong. Ipersonally believe this is the beginning of the end of the USD. So position yourselves to earn from the fall, it can be done if you are wise. I'm not saying I'm the best and know everything. I'm just simply stating my opinion. In technicals of the DXY, just watch the key levels and see how price actions works at those key levels. Does it continue slipping? or does it consolidate for another few months and the revive? I'm going to guess that it's going to continue to slide. But what do I know? I'm just some rando guy that likes to post his ideas on tradingview and go on rants about what I believe so I could be absolutely WRONG. Oh btw, you're welcome to vent about anything in my comments section, some people just neeed that. But good luck and good trading :) TVC:DXY
TVC:DXY
by BodiesXWix
7
$EURUSD-Banking on a False Breakout? - Working with Levels (SMT)Yes, I know my chart looks Sloppy, but when you analyze the 5min chart for price action, it's going to look that way. Now... First Piece to this puzzle DXY RSI divergence with Price Action. Looks like we should see a bullish Dollar after breaking a new low. And I wouldn't trade this Until we have confirmation that it does break a new low and/or comfortable with the fact that we can confirm a bullish dollar. Otherwise this trade will be a waste of money and time. Second, there are baked in unseen natural support and resistance prices that take place at the 0 ,2 ,5 ,8 levels. We say this last time when EURUSD dropped good ways from when it hit 1.18800 a few weeks ago. So therefore I have a few levels in place anticipating such action. 1.195, 1.198 nd 1.2, Where the previous high was reached. If I get a 30 pip drop from any of these levels, I think it would be wise to pay yourself and move stop loss accordingly after doing another evaluation to mitigate losses. Check to see if the low has been broken and where this falls in comparison to the baked in Support/Resistance levels. I would personally trade the false breakout at that point depending on If when it happens. Third, Yes, we did break a high, yes the 4 HR and Daily are possibly going to have a closed candle above the "Resistance." Does that guarantee a breakout? Usually.. never. It takes time to build out from the Market Maker Buy/Sell Model and I believe we're at the top or nearing the top of a sell. However, I'm not sure it would be in my best interest to trade this on a Friday. Or Monday for that Matter. However, if you're a swing trader, you can definitely use this as a False Breakout set-up. Multiple levels on the left where price action has occurred previously that may result in a reversal so these are key levels at which I like to analyze when reach and see if there is a need to take profit or not. We shall see as price moves along throughout the day, I'll be watching the DXY and the EU to see if I would pull the trigger. I could be completely wrong about this, but what do I know. I'm just some guy who likes to post his ideas. Good Luck and Good Trading.
Short
by BodiesXWix
1
$GBPUSD - Seeking Liquidity Short - 3:1 Scalp-ish TradeThe old me wants to buy it because it fits the trend-line/channel. Also, the double top doesn't help. I know that once we get near that double top it's going to break it. But everyone else is buying right now, thinking the same thing and that's why the smart money signals are telling me to sell soon. There is a breaker and an order block just above this consolidation area. I believe it will enter and exit this area pretty quickly and head south seeking more buyers and taking them out as they set their Stop Losses just below these liquidity areas like the previous daily lows. So I have 3 take profits marked out along the way in case it does hit another small Order Block and bounce, I'll take profit there, move my stop loss to where ever is appropriate and continue hoping that it's going to take out the sell-side liquidity. I believe it's currently building up sell orders, although it looks like a buy, that's what they bankers want you to think so that when you buy on this level they'll just turn around and take out your money by forcing the price to sell. So I'm going for the sell here and I'm already in position to do so. Happy Thanksgiving! and happy trading!
Short
by BodiesXWix
2
$GBPUSD - False Breakout - Going ShortAs it was nearing the highs, I put a small lot size on at 1.33104 for 10 pips to 1.33204 and got a short 10 pip scalp on the way up. Just because I knew it would break the highs to trigger the smart money stop runs and clear out tight stop losses people already had on sells. Now that it's above the Highs, I believe this is a false breakout as it's holding steady, letting people believe it will breakout, putting in their buy bids or waiting for it to retest the last high, or putting their stop losses just below the last high and already buying. I think Smart Money knows this and will go short to take out that liquidity that is building up at the current moment. Secondly, On a 4-hour chart, this is historically a great support/resistance level between 1.332 and 1.336. It's also at about the 80% retracement level on a Daily Chart (which is where you see most reversals occur). Now, It could turn to support and buy, but that's where I turned to the COT (Commitment of Traders) indicator. The Commercial Banks, you know like JP Morgan, IMF, Deutsch Bank, etc. decided to add more shorts last week. Not a lot more, but enough to be noticeable, that the shorts would've only netted about 116 pips. I believe if they were going to be adding shorts they're looking for more than 116 pips that only took about a day to achieve. (See Chart) On Barchart.com the COT report has commercial banks adding about 2,000 short positions as of 11/17. I believe they're looking for a much shorter move in the short term. But long term I do expect this resistance area to be broken within the next few months. Additionally, I always like to compare GU to EU as they move similarly. And EU is definitely looking like a swing sell. The Pound is definitely much stronger than the Euro, which is why I think the Euro will sell off much more, but in the short term, I think we'll see the Pound sell with it. I'm not 100% it will reach 1.32000. So I'm looking for take profit zones to shave off some earnings on the way down. The first about 25 pips, the second about 65 pips, the third about 115 pips, and I always leave a trailer at the end to see if I have a miracle drop below that. But then again, I could be completely wrong. This is just my analysis and I'm just some guy that likes to post his ideas. Good Luck and Good Trading.
Short
by BodiesXWix
2
$EURUSD Swing Sell Underway - Another one So this Blue Horizontal line that I've had on my charts for quite some time represents a significant resistance/support line for the past 8 years or so. I call the daily bias for the EURUSD to be a sell, and it was overnight and when I woke up I immediately exited the trade with a mere but decent 20 pips, closing the trade at 1.18337 about 8 hours ago. The move shifted sideways and then within the last part of the day I noticed the strong surge upwards, until it hit my resistance line that has been marked for weeks at 1.18790. I kinda looked at it for a second. Then I looked at the big picture and thought this could be another swing trade. So I went for it. Within the previous day it has attacked a daily high and a daily low but has not broken either of them. So tomorrow it's going to be a given that it will break one or the other. So I have set up second entry zone and that is just above the next two daily highs and allows for a stop loss above the 3rd daily high. I will probably try a combination of entry points and stop/losses to mitigate risk as I always do. Never put your eggs in one basket!! Where I drew my historical support/resistance line just happened to the bottom of an Order Block. (See Chart) As for Take Profit Goals, I chose 1.17400 because it's just below the current swing low and it's an institutional/psy number. No one at a bank is going to be aimin for 1.174214. And it also comes in contact with an order block that could turn the trade north depending on what time of day it is when it gets there. My second take profit area is 1.17000 which is just above a 4 hour low/swing low of 1.16978 and just below a daily low. Once/if I hit these zones I'll leave about a 5% profit trailer to roam to see if it gets lower while my s/l is below entry. Again, the Commercial banks are very net short with EU even though they have been adding longs. I did check the Open interest last night and it seems to be steadily rising, which wouldn't necessarily call for a sell. Unless a drop in interest has just happened or is about to happen. Here's a chart with the COT report, stochastic with interest, and Money flow with interest rates. The Money Flow Index with the Open Interest seems to be Diverging which would signal a sell in the near future. I'm not expecting it to turn around and sell off now. But I do Expect a struggle, probably breaking the highs (barely) before dropping a few hundred pips by the end of next week. Also Linked is every EURUSD call I've made so you can see the timeline of how bad I used to make calls, and my progression to making better calls and realizing where I went wrong with incorrect ones. At least now they're all in one spot. During this period I'll be trying to add more positions as well as give a breakdown of price action on this thread as the trade moves along. Just my two cents. And just a reminder, I could be completely WRONG. I'm just some guy with a 9-5 job that likes to post his ideas on here :) FX:EURUSD
Short
by BodiesXWix
1
$EURUSD - Practicing Daily Bias - Short for now on 11.19I'm practicing the reasoning I would have to trade a specific direction for a daily Bias. Today, November 19, would be a sell bias. We've reached another resistance area that could not be broken and have a few daily lows that can easily break. Not only that, there have been some false breakouts aka "Turtle Soups" that have resulted in a short drop followed by a shallow retracement into an optimal trade entry. Seeing two of these in the same area within about a week's time frame would leave me to believe we would be selling off to break at least a few of those lows. I have it stopping around an Order Block to see what the reaction might be at that point. Keep in mind the are still equal highs above which it will want to break, it's all about the time as to when that will happen. Anyway, this is more of a journal entry than anything. But I am short, I just didn't get the entry I wanted but I'm confident it will move in the direction intended on this chart. We can only wait and see. FX:EURUSD
by BodiesXWix
$SPX Repost - Finally Hit Entry 3595 (Original Idea Linked)I'm going to point to the original breakdown of the this idea to my related ideas. The continued added comments in the linked idea were just price reading along the way from the time I called this price until now. Now that we've finally entered the trade at 3595, I'll continue the rest on this of the analysis on this idea as it slides down and what I plan to do and distribution of lots. The differences between this idea and the original idea is that I replaced the fib, This ideas fib is that the 100% is now the old 62%. And that I've also added a second, riskier entry at 3602 with a tighter stop loss at 3614. The original Idea has the entry at 3595 which we hit just before close, stop loss at 3630.8. Both have expected sells to 3439.5. However, on this idea, I'll be sharing percentages of lot sizes I'll be shaving off as profit at different parts of the trade on the way down, as well as trying to add more positions or find scalps within this trade. I still think there's a strong possibility that it could reach 3602 and the explanation is in the linked idea. I found a stand alone Breaker in the price action at that point that could prove to be the real fake out price since 3595 seems a bit too obvious and I don't think Smart Money is going to play that game. There's also a possibility it could find itself at 3655 or 3669 in which if I get my S/L hit early in this Trade then that's where I will be looking for price to go next before I plan to make a long term sell. But then again what do I know, I'm just some dude that likes sharing his Ideas. I could be COMPLETELY WRONG. But that's how we all learn isn't it? OANDA:SPX500USD
OANDA:SPX500USDShort
by BodiesXWix
$GBPUSD - Daily Bias Long - Pull Back to 1.30500 (SMT)SMT = Smart Money Theory. A lot of this can be explained in my EU Idea since both move in concert together (usually) Just GBP happens to make bigger moves. So that's why this chart is on the hour chart and the EU is on the 15 min chart. GU is looking to break the next daily low. There's a far reach for the next daily low. Price will reach the GU daily order block which looks like a breaker on the one hour chart, before then moving higher. When moving high it will reach for the next daily highs which two are almost equal. And price loves to break equal highs. (GU DAILY CHART) Additionally it looks as if the dollar will rise clearing highs before, hitting a bearish order block before moving lower which the opposite will occur with GU. (DOLLAR CHART) I've tried to look at this from a selling perspective and the only thing that makes sense is the equal lows notated in the chart with the green trend line and that's around 1.29140. But I expected that to happen a long time ago and it still hasn't happened. And as I always state, I COULD BE COMPLETELY WRONG. What do I know, I'm just some guy that likes to post his ideas. Good Luck and Good Trading ;) FX:GBPUSD
Long
by BodiesXWix
$EURUSD - Daily Bias Long - Waiting on Pullback 1.7835 (SMT)SMT = Smart Money Theory After looking at this from multiple time frames, price action needs to have a daily bias and after today it seems to have turned from the sell to a buy bias. Price seeks previous highs and lows to break and now we have multiple highs in succession and it is close to those highs. However, there needs to be a pull back before moving forward. So I pulled a fib from the most recent explosive movement to the most recent and daily high. The 62% retracement seems to lay right on top of the 4 hour chart Order Block. That price is at 1.17833 (Smart money we'll round up to 1.17835 or 1.17850) for an entry which is also the 62% retracement level. Cha-ching! (4HR CHART - BULLISH ORDER BLOCK) I think it's also safe to assume that it could get as low as 1.17110 it (near the 79% retracement level) because that is the low of the previous Asian Session as well as a previous Daily High and a Daily Low. It shouldn't get below 1.17585. however I would personally place my stop loss 10 pips below that (1.17585 is what is pictured) Once it hits the 4 hour bullish order block it should push higher and try to reach for each of the previous daily highs. If I need to hold over the weekend, I will. Looking at the dollar it looks as if it will push higher breaking highs, then hitting an order block before pushing lower which would cause the exact opposite reaction in EU which is what is proposed. (DOLLAR CHART) I've tried to look at this as if it would sell and I can't make sense out of it so that's why I believe this is likely to happen. And as I always make a disclaimer, I COULD BE COMPLETELY WRONG. What do I know? I'm just some dude that likes to post his ideas. Good Luck and Good Trading! FX:EURUSD
Long
by BodiesXWix
6
$SPX Fake Out - Has Yet To Reach Full Extension On SellOnce price creates a new low that extends past the 0% fib extension, you would expect it the have a mirror of price reach, not necessarily price action. The original trade set forth was the new high as being the bottom and the beginning of the explosion being the full length of the trade. I has reached that and has barely made any moves under it. It was a very slow day. I personally see a fake out coming. As the price reaches upwards into the breaker, maybe near the 50% of the original fib is when we'll see the down shift and probably toward the full 200%, Asymmetrical, extension. The full extension would also cross equal lows that create a façade of support but into another bullish breaker that it may not push below the next low. Probably land somewhere in the middle maybe? I've taken a look at all time frames and I believe the rise up into the sell will happen rapidly leaving the body of candle below somewhat current conditions to create a strong resistance point. You also have to take into consideration of the CRB index which seems to be turning as well. If the commodities start going lower with a higher dollar value, stocks are likely to decrease with bonds. And that's what I feel like I'm seeing. The banks want your money and they'll take it any way they can. So beware if your thinking "New High!" ... That's not something I'd be comfortable putting my money on. Watch the Asian session closely and see what kind of reaction London session makes. It could be a quick strike in the middle of the night or one that happens at the open of market. But I see a lot of posts with analysis suggesting a new high. And I just don't see it. But those are my thoughts and that's just me. I'm just some dude.
OANDA:SPX500USDShort
by BodiesXWix
$XAUUSD - On Pullback to Entry 1949 (Smart Money Concept)The only thing I am worried about with this call is that it could hit that Buy-side breaker and not reach my entry. But I've mapped out all key levels. and I believe this is what is possible. The previous fib it reached between the 70 .5% level and 79% level before breaking a new high. (Previous fib chart) Should it retrace from the current high, or the projected high that I have in place before retracement it should do the same. At the 70.5% level happens to be an order block/breaker depending on the time frame you look at. This should propel it to a new high which I have mapped out in 3 Take Profit zones. The first being the current high. The second being the possible new high before retracement, the third being the next swing high which is also 127% extension of the proposed new high. We shall see.
OANDA:XAUUSDLong
by BodiesXWix
$SPX All Time High? - Not Before A Drop (Smart Money Concept)As a student of ICT, retail theory is not our thing. What I see that creates the current All time high is a liquidity run. It dips, creating a breaker, comes back up but doesn't get higher than the All time high. This is a signal for price to drop below a previous low. Which low is that? Depends on where the strongest breaker/order block is. Anyway, I was looking at this yesterday and noticed that the daily highs were all closer currently than previous days lows. So I had a feeling it would gravitate toward and break those current highs. It has done so. Next is the breaker. There are two. I believe it will actually hit the higher one but I'm placing the entry on the lower on just to be safe. To understand what I'm referring to, please see the chart here of the all time high price action here. So, one of the breakers will be hit, and it will then drop to where I've placed my box. Why did I draw the fib at that point? Because the low of my fib is what creates the price action that breaks a daily and swing high. See chart here After reaching a current high which should be near the breaker, price should retrace back to near the 70.5% level possibly the 79% level. So I have three take profit zones, one at 50% just in case it does only go 50% and turns around. At this point, you should have your stop loss at break even. It's also a bullish order block, shown here. The second at the 62% retracement level. Which I think is a good level to shave off more profits. And the 3rd near the 70.5% level which happens to break somewhat equal lows, and if you know smart money theory, you know that's what price is attracted to, and also be at a buy-side breaker since the liquidity run is on the left side of the breaker and doesn't create a lower low forcing price higher. Which should then be the buy that could possibly break the high. It could possibly go lower too, in that case, I would probably take 95% of my pips off by TP 3 and leave a 5% trailer just to see what happens. With it being the weekend of the presidential election being called. anything could happen. But just by going by smart money theory, this is what is likely to happen. We shall see.
OANDA:SPX500USDShort
by BodiesXWix
2
$XAUUSD - On Pullback to SweetSpot Entry 1930As a student of ICT, you're taught to draw your fibs at specific points. Like the low of the last explosive move that broke a high is where you would place the bottom. And of course the obvious top. Fib has been drawn. There's usually a sweet spot of the 70.5% that it likes to narrowly cross for a great entry. It just so happens that there is a breaker in the 5 min chart at that exact spot. The stars align. You also must have a sell or buy bias going into a trade. The bias is to the buy-side as it just broke two previous highs and created equal highs while doing so. People see two equal highs and think resistance. Smart Money sees two equal highs and sees Liquidity which smart money wants to take. Put your sell stop there, smart money will buy through it and take your money. That's how smart money works. Additionally, there are two more previous daily highs just above that at the first TP extension of 127%. Everything ICT teaches is unfolding in this one setup. I haven't looked at gold in a while because it was getting a bit tough to see what could happen. But this one just speaks to me. So this is my call. OANDA:XAUUSD
OANDA:XAUUSDLong
by BodiesXWix
$XAUUSD - Scenario Two Buy at 1934ish Bullish OBI redrew the fib to include the explosive move that would be the bottom of the fib to be the final little resting place before it broke the daily highs. This time the 70.5% retracement level is on target with a bullish order block. This scenario seems a bit safer than my first call. But either (or both) are highly likely in my eyes. The rest of the analysis remains the same with the bias and breaking new highs, etc. We shall see. I place lots on both and see what happens. And if you dig deep into this price action there is a gap just before the order block. Gaps are like magnets, price is driven to them. It should go straight through this gap to the order block and bounce for the buy (1 MIN CHART MAGNIFIED LOOK AT PRICE ACTION)
OANDA:XAUUSDLong
by BodiesXWix
$GBPUSD - Sell Bias Setup - Sell at Breaker Clear the LowThe picture is pretty self descriptive. The next daily bias seems to be heading toward the direction of selling. There are many daily lows stacked up ready to be broken as well as an equal low setup just prior to the previous daily lows. I think during the Asian session we'll see Cable range but create equal highs and lows that it will want to break to creating a breaker that will propel it to the current breaker. I'm seeing the same Bias in EURUSD as it seems to be struggling to create a higher high. The current swing high in GU was formed from a previous breaker but the low has yet to be cleared. To be honest it could just keep going lower without pulling back for the set-up. But if it does pull back to around 1.30995 I will be looking to sell with about a 40-50 pip stop loss, but it should gain over 100 pips to break the low so well worth the risk to reward. But I like to peel off profits in case it does not get to my target so I have planned 3 TP zones and depending on price action will depend on how much I move my stop loss and where. Will be giving updates as I continue to watch this setup unfold. Edit: The S/L Depicted in the graph may be too tight. I may loosen it back to 1.31500 depending how the market is reacting. I don't want to go above the prior swing high of 1.31757 because if it breaks that, it's more than likely going higher. There could also be a lower sell at 1.30787 in which it may not get higher as that is another bearish breaker. Just another thing to watch for in this setup.
Short
by BodiesXWix
$XAUUSD to Pullback - 1896 to Buy and Clear Equal HighsDon't you hate it when you set a sell limit at a high that's close to equal to another one? Well that's because there's liquidity there and the banks want to take you money so it will run through your sell limit. That's why I'm waiting for the pull back to the unmitigated order block in the 15 minute time frame chart, which happens to be sitting around the 61.8% (62%) Fib level near the 1896 level, before it propels price above the near equal highs, around 1912, as my first target. The second target would be the next high after that. Today is a volatile day and I see the metals market as the place to catch the action. Let's see what happens.
OANDA:XAUUSDLong
by BodiesXWix