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Simple Monday-Tuesday System (attached calculator)

  • #2,341
  • Jan 22, 2021 6:39pm Jan 22, 2021 6:39pm
I can't stress enough, watch the video, pay attention, see and hear how he explains the Weekly Bar on the right side; pure PRICE ACTION information that people pay big $$$$.$$ for



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And don't take my word for it, do your own research

https://www.forexpeacearmy.com/forex...forex-training
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  • #2,342
  • Jan 22, 2021 7:30pm Jan 22, 2021 7:30pm
Here is an interesting one to watch next week, trend has definitely been UP, now a bearish weekly candle

I would just let price tell me in the movement of Monday and Tuesday to decide if there is a trade setup, I think slight bias for more downside.

But it could be a neutral week, this is usually a low volatility pair.

I'm sure the pattern traders see a Head & Shoulders, the Fibo people will have a view, the support and resistance people will have a theory, maybe even the Batty people can chime in!

We can all be correct, price action rules.



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  • #2,343
  • Jan 22, 2021 7:40pm Jan 22, 2021 7:40pm
Quoting Erebus
Here is an interesting one to watch next week, trend has definitely been UP, now a bearish weekly candle I would just let price tell me in the movement of Monday and Tuesday to decide if there is a trade setup, I think slight bias for more downside. But it could be a neutral week, this is usually a low volatility pair. I'm sure the pattern traders see a Head & Shoulders, the Fibo people will have a view, the support and resistance people will have a theory, maybe even the Batty people can chime in! We can all be correct, price action rules. ...
My favorite candle formation is on a HTF (D,W,M......the higher the better) when in a UPTREND price sets a new swing high with a RED candle or if in a DOWNTREND price sets a new swing low with a GREEN candle. I trade the reversal of the trend on the start of the following candle......BUT, THERE MUST BE LOTS OF ROOM TO THE LEFT. By the looks of this chart you post, it's very close to being a really good signal imo. Definitely worth placing a trade on imo.

EDIT: Just take a look at the High to the left. It was set by a Red candle it looks like. Then look at the big move down afterwards. I could care less that it's a pinbar. That was just an added bonus.

EDIT 2: I just noticed that the move UP just prior was also started with a White candle at the end of the downtrend.
  • #2,344
  • Jan 23, 2021 2:10pm Jan 23, 2021 2:10pm
Quoting Erebus
I can't stress enough, watch the video, pay attention, see and hear how he explains the Weekly Bar on the right side; pure PRICE ACTION information that people pay big $$$$.$$ for {image} And don't take my word for it, do your own research https://www.forexpeacearmy.com/forex...forex-training

Isn't the weekly bar hindsight? On Mon or Tues I don't know what the weekly bar will look like.

Interesting test if Sunday open drops 30 pips - go long with SL 150 pips - shouldn't be difficult to backtest this theory.

.
  • #2,345
  • Jan 23, 2021 3:38pm Jan 23, 2021 3:38pm
Quoting Shaishen
{quote} Isn't the weekly bar hindsight? On Mon or Tues I don't know what the weekly bar will look like. Interesting test if Sunday open drops 30 pips - go long with SL 150 pips - shouldn't be difficult to backtest this theory. .
Isn't the weekly bar hindsight?

Please be more specific; yes, all previous weekly bars are hindsight, astute observation

On Mon or Tues I don't know what the weekly bar will look like.

Another fantastic observation, you're not the only one by the way

But by using the weekly bias and careful observation of the price action on Monday and Tuesday, we can PLAN a trade entry

Perhaps you can show us how you trade or analyze the market?
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  • #2,346
  • Jan 23, 2021 3:43pm Jan 23, 2021 3:43pm
Quoting Erebus
{quote} Isn't the weekly bar hindsight? Please be more specific; yes, all previous weekly bars are hindsight, astute observation On Mon or Tues I don't know what the weekly bar will look like. Another fantastic observation, you're not the only one by the way But by using the weekly bias and careful observation of the price action on Monday and Tuesday, we can PLAN a trade entry Perhaps you can show us how you trade or analyze the market?
please study more about midweek reversal from btmm to trade motu strategy.there will be midweek reversal,but one must follow the trend of higher time frame.
  • #2,347
  • Jan 24, 2021 8:02am Jan 24, 2021 8:02am
Quoting Erebus
Here is an interesting one to watch next week, trend has definitely been UP, now a bearish weekly candle I would just let price tell me in the movement of Monday and Tuesday to decide if there is a trade setup, I think slight bias for more downside. But it could be a neutral week, this is usually a low volatility pair. I'm sure the pattern traders see a Head & Shoulders, the Fibo people will have a view, the support and resistance people will have a theory, maybe even the Batty people can chime in! We can all be correct, price action rules. ...
Hello Erebus

Thank you for posting this chart, this is exactly what I meant in my previous posts, weekly trend is up, last week is a down bar.

Now we want to establish a bias for the coming week, which one do we go by? The trend or last bar? At the open of the week we want to set a limit order 30-40 pips above or below the line as HE says, if we go with the trend we should set it below the line if we go with last bar's direction we should set it above the line. Or if we want to observe price action on M-T, if bias is long we should pay attention to the lows on those days and vice versa.

I am trying to make this method work in my favour as much as possible because I like it, I am not criticizing it.

Myself I would choose direction of the last bar as the bias and make it a rule.
Regards
  • #2,348
  • Jan 24, 2021 12:17pm Jan 24, 2021 12:17pm
Quoting Erebus
{quote} Isn't the weekly bar hindsight? Please be more specific; yes, all previous weekly bars are hindsight, astute observation On Mon or Tues I don't know what the weekly bar will look like. Another fantastic observation, you're not the only one by the way But by using the weekly bias and careful observation of the price action on Monday and Tuesday, we can PLAN a trade entry Perhaps you can show us how you trade or analyze the market?
Lol, thanks for your sarcastic remarks - I am pointing out what is not clear to me - the ICT presenter shows a hindsight success.

Make a vid with Monday and Tuesday on the chart and then explain what you think will happen next.
I don't care if it's going to be a losing or a winning trade, just have the guts and go to the hard right edge.

With your own words, Erebus: "..and careful observation of the price action on Monday and Tuesday, we can PLAN a trade entry"

ICT presenter: "I did in fact take this trade and shared it on twitter" that's wonderful - but could be coincidence also.

Still interested if anybody is looking at the 30 pips drop at week open /150 pips SL strategy.
Or perhaps ICT has explained his statistical edge and I missed that info.

.

.
  • #2,349
  • Jan 24, 2021 5:01pm Jan 24, 2021 5:01pm
Quoting howard
{quote} Hello Erebus Thank you for posting this chart, this is exactly what I meant in my previous posts, weekly trend is up, last week is a down bar. Now we want to establish a bias for the coming week, which one do we go by? The trend or last bar? At the open of the week we want to set a limit order 30-40 pips above or below the line as HE says, if we go with the trend we should set it below the line if we go with last bar's direction we should set it above the line. Or if we want to observe price action on M-T, if bias is long we should pay attention...
I wouldn't get too concerned about having a bias, if it's neutral, be neutral, watch the price action, simple.

I wouldn't get locked into just the last week direction either, that could just be the retracement needed before the main trend continues.

When the required price action is observed on Monday and Tuesday, plan the trade, be it the trend continuation or trend change.

When the proper price action doesn't appear on Monday and Tuesday, nothing to do, next pair, next week, no problem.

The way I read your post, it's like you are trying to make the analysis fit every week no matter what.

Good luck
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  • #2,350
  • Jan 24, 2021 5:18pm Jan 24, 2021 5:18pm
Quoting Shaishen
{quote} Lol, thanks for your sarcastic remarks - I am pointing out what is not clear to me - the ICT presenter shows a hindsight success. Make a vid with Monday and Tuesday on the chart and then explain what you think will happen next. I don't care if it's going to be a losing or a winning trade, just have the guts and go to the hard right edge. With your own words, Erebus: "..and careful observation of the price action on Monday and Tuesday, we can PLAN a trade entry" ICT presenter: "I did in...
Is there any other way to show success?

Is that sarcastic?

Who cares? Doubters are going to doubt; if you don't see it, you don't see it.

There are videos, there are Forex Peace Army reviews, there is this podcast

https://tradingnut.com/michael-inner-circle-trader-ict/

I'm just showing the part that I am interested in and that I think might work for me, trying to share that with FF members.

Which is the weekly direction, Monday and Tuesday retracement, and day trade that situation - WHEN IT APPEARS.

I will try to share that this week if I can, unfortunately, I have a special meeting on Wednesday so may not be able to catch all setups.

I don't understand the demand to make a video to show a real-time Monday Tuesday situation; surely you can look at past charts?

We already explained the price action to look for and what we think will happen next; did you miss that part?

Everywhere I see the advice to backtest a method to find if it works for you, why is this any different?

Normally I would post another chart here but apparently not good enough for you!

Good luck
It takes a lot for me to IGNORE you, but you can try.
  • #2,351
  • Jan 28, 2021 1:38am Jan 28, 2021 1:38am
Quoting Shaishen
{quote} Lol, thanks for your sarcastic remarks - I am pointing out what is not clear to me - the ICT presenter shows a hindsight success. Make a video with Monday and Tuesday on the chart and then explain what you think will happen next. I don't care if it's going to be a losing or a winning trade, just have the guts and go to the hard right edge.
No video from me, only what I observed. First, I think of 2 ways to check the weekly bias, a TREND LINE and mark out the highs of each week past.

What do you see on the 4 Hour chart? I see exactly the PRICE ACTION that he mentions in the video, or as he suggested, just SELL 30 pips away from the OPEN.

Just trying to help, folks, have a good one.


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  • #2,352
  • Jan 28, 2021 3:39am Jan 28, 2021 3:39am
MONDAY + TUESDAY ENTRY @ 1.58, who got some pips this week?

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  • #2,353
  • Jan 28, 2021 4:49pm Jan 28, 2021 4:49pm
What a market, anyone can figure this out, let me know, you're a genius!

Price came back to weekly open, the Aqua line, which way now?

On a daily, that rapid rise and fall have created a Pin Bar, so if you like those...

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  • #2,354
  • Jan 28, 2021 6:00pm Jan 28, 2021 6:00pm
on the other hand, some pairs stuck in range magically become the best opportunity

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  • #2,355
  • Jan 29, 2021 1:29pm Jan 29, 2021 1:29pm
Hi guys. I just want to share the indicator that shows Day, Week, Month candles on the right side of the chart. I found this here on forexfactory and I think this will be helpful to this system.
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File Type: ex4 Cur_Prev_DWM_Candles_v1.5.ex4   67 KB | 494 downloads
  • #2,356
  • Jan 31, 2021 3:00am Jan 31, 2021 3:00am
bit of a YO-YO week, but there were opportunities, both MON TUE breakouts and associated Price Action

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  • #2,357
  • Feb 3, 2021 10:59pm Feb 3, 2021 10:59pm
of course, looks like an entry, but there is GBP bank interest news in about 7 hours...

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  • #2,358
  • Feb 4, 2021 5:56pm Feb 4, 2021 5:56pm
Update to the last post, as feared, price right back in the middle of the range, the direction changed for now, will it last?

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  • #2,359
  • Feb 4, 2021 5:58pm Feb 4, 2021 5:58pm
The GOLD traders can observe this PRICE ACTION also

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  • #2,360
  • Feb 9, 2021 7:53pm Feb 9, 2021 7:53pm
Quoting Shaishen
{quote} Still interested if anybody is looking at the 30 pips drop at week open /150 pips SL strategy. Or perhaps ICT has explained his statistical edge and I missed that info. . .
Here you go, 40 pips drop, and the price structure as explained in the videos, see where it ends up this week

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