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.
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
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.
{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...
{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...
{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.
{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. . .
