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"Price - Structure - Flow"

  • #1,181
  • May 25, 2021 1:01am May 25, 2021 1:01am
Quoting bilal1947
{quote} Hi Steve yeah Michael loves to talk and keeps on talking and talking! and before coming to the specific point cushioned it with less important things that one may miss / undermine the main point, he likes to mix it and it is difficult to pick what is really important for day trading. - Fibs as i understood Michael which he didn't mention clearly though but my observation is, when price given a sudden move leave a GAP, and at time with a BOS of m1 (but not necessarily), price mostly retraces back to fill the gap at a specific Fib level for...

Hi Bilal;

I find his use of Fib. placement is very much down to interpretation

Personally I prefer just to use the HTF Order Block and a "Switch in Structure" within M1, at least, to indicate the Order Block is valid

Check the Lower Chart in this Post 1,173

I am in no way an expert in Michael's Method(S) of Trading I have taken what makes sense to me and introduced it to my Trading

Watching some of his videos, over the weekend, did help with making sense of a lot of things

I find his shorter videos more helpful under 15 minutes

I hope your Trading is going well and you and your family are doing well
  • #1,182
  • May 25, 2021 1:05am May 25, 2021 1:05am
Closed the short trade early when the structure changed.

Attached Image (click to enlarge)
Click to Enlarge Name: cT_cs_1171597_GBPUSD_2021-05-25_13-04-21.png Size: 22 KB
"The hard work in trading comes in the preparation"
  • #1,183
  • May 25, 2021 1:33am May 25, 2021 1:33am
GBP/USD M30 M5 M1 Observations

Price is starting to Stretch going into the M30 Bearish order Block

Wait for a Switch of Structure on M1 at least

Remember there are no guarantees
Attached Image (click to enlarge)
Click to Enlarge Name: 25th May 21 GBPUSD M30 M5 M1 Observations.png Size: 217 KB
  • #1,184
  • May 25, 2021 1:42am May 25, 2021 1:42am
Quoting stevepatt
GBP/USD M30 M5 M1 Observations Price is starting to Stretch going into the M30 Bearish order Block Wait for a Switch of Structure on M1 at least Remember there are no guarantees {image}
Thank you Steve!
I wonder what is the yellow block in you chart?
Attached Image (click to enlarge)
Click to Enlarge Name: f93f8625c9ecf805c35780b41dab4b3e.png Size: 79 KB
"The hard work in trading comes in the preparation"
  • #1,185
  • May 25, 2021 1:48am May 25, 2021 1:48am
Quoting Nick.Vuong
{quote} Thank you Steve! I wonder what is the yellow block in you chart? {image}
Hi Nick;

That's the Asian Range I've adapted it to suit Michael's interpretation of the Asian Range 00.00 to 05.00 BST
  • #1,186
  • May 25, 2021 2:08am May 25, 2021 2:08am
Quoting stevepatt
{quote} Hi Nick; That's the Asian Range I've adapted it to suit Michael's interpretation of the Asian Range 00.00 to 05.00 BST
Thank you Steve,

Took a short trade at the red arrow and got stopped out , may I have you advice if it's too early entry or wrong SL?

Attached Image (click to enlarge)
Click to Enlarge Name: 0cefb233f8031e3b65f73d0c4221088c.png Size: 44 KB
"The hard work in trading comes in the preparation"
  • #1,187
  • May 25, 2021 4:30am May 25, 2021 4:30am
Quoting Nick.Vuong
{quote} Thank you Steve! I wonder what is the yellow block in you chart? {image}
ICT Asia range. from 19:00 to 00:00 New York

Edit: Ah sorry Steve's already replied
  • #1,188
  • May 25, 2021 4:39am May 25, 2021 4:39am
Quoting kivanc
{quote} ICT Asia range. from 19:00 to 00:00 New York Edit: Ah sorry Steve's already replied
Hi Kivanc,

Thank you!
"The hard work in trading comes in the preparation"
  • #1,189
  • May 25, 2021 9:43am May 25, 2021 9:43am
Quoting Nick.Vuong
{quote} Thank you Steve, Took a short trade at the red arrow and got stopped out , may I have you advice if it's too early entry or wrong SL? {image}

Hi Nick;

I know it's hard but don't be too eager to jump into a Trade, believe me I'm as guilty as anyone of jumping in too early at times, but...

It does pay to wait for an Obvious Switch in Structure, see the M1 Chart below...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 25th May 21 GBPUSD M1 Observations.png Size: 162 KB
Click to Enlarge Name: 25th May 21 GBPUSD M5 Observations.png Size: 146 KB
Click to Enlarge Name: 25th May 21 GBPUSD M30 Observations.png Size: 140 KB
  • #1,190
  • Edited 11:29am May 25, 2021 9:57am | Edited 11:29am
Quoting stevepatt
{quote} Hi Nick; I know it's hard but don't be too eager to jump into a Trade, believe me I'm as guilty as anyone of jumping in too early at times, but... It does pay to wait for an Obvious Switch in Structure, see the M1 Chart below... {image} {image} {image}

GBP/USD M1 Observations

Whatever happens don't Chase Price wait for it to come to you...

If it doesn't work out so be it

Edit: Added a second M1 Chart with Fibs. added

If you have watched ICT videos you should know the significance of the Fib. Levels
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 25th May 21 GBPUSD M1 Observations 2.png Size: 157 KB
Click to Enlarge Name: 25th May 21 GBPUSD M1 Observations 3.png Size: 167 KB
  • #1,191
  • May 25, 2021 10:53am May 25, 2021 10:53am
Quoting stevepatt
{quote} GBP/USD M1 Observations Whatever happens don't Chase Price wait for it to come to you... If it doesn't work out so be it Edit: Added a second M1 Chart with Fibs. added If you have read ICT you should know the significance of the Fib. Levels {image} {image}
GBP/USD M5 M1 Observations

Looking to Trade Long into a HTF (M30) Bearish Level
Attached Image (click to enlarge)
Click to Enlarge Name: 25th May 21 GBPUSD M5 M1 Observations.png Size: 182 KB
  • #1,192
  • May 25, 2021 11:20am May 25, 2021 11:20am
Quoting stevepatt
{quote} Hi Nick; I know it's hard but don't be too eager to jump into a Trade, believe me I'm as guilty as anyone of jumping in too early at times, but... It does pay to wait for an Obvious Switch in Structure, see the M1 Chart below... {image} {image} {image}
Dear Steve,

Thank you for great details, it's a big help.
Regarding Fibs, I'm not sure what you mean with "read" ICT, I have lots of his videos (not yet finished watching), but there's no document to read.
"The hard work in trading comes in the preparation"
  • #1,193
  • May 25, 2021 11:28am May 25, 2021 11:28am
Quoting Nick.Vuong
{quote} Dear Steve, Thank you for great details, it's a big help. Regarding Fibs, I'm not sure what you mean with "read" ICT, I have lots of his videos (not yet finished watching), but there's no document to read.
Hi Nick;

My mistake, should have said watched
  • #1,194
  • May 25, 2021 1:01pm May 25, 2021 1:01pm
Hi Steve,

I asked this couple of questions on 1 min divergence thread but the thread does not seem very active anymore

Since you use the ICT technique perhaps you could help


I have a couple of questions if someone could help.

When does a order block get removed from the chart. Let say that you have a order block acting as resistance, will that order block be removed when the prices closes above the high of the order block candle ? or when will it be removed.

The other question is if a order block works as classical supply demand in the sense that once broken for instance a order block acting as resistance then becomes support and so on

Thanks for your help
Kind Regards
  • #1,195
  • May 25, 2021 1:15pm May 25, 2021 1:15pm
Quoting stevepatt
{quote} GBP/USD M5 M1 Observations Looking to Trade Long into a HTF (M30) Bearish Level {image}

GBP/USD M30 M5 M1 2x Short Trades
Attached Image (click to enlarge)
Click to Enlarge Name: 25th May 21 GBPUSD M30 M5 M1 Short Trade.png Size: 219 KB
  • #1,196
  • May 25, 2021 1:32pm May 25, 2021 1:32pm
Quoting Frag8383
Hi Steve, I asked this couple of questions on 1 min divergence thread but the thread does not seem very active anymore Since you use the ICT technique perhaps you could help I have a couple of questions if someone could help. When does a order block get removed from the chart. Let say that you have a order block acting as resistance, will that order block be removed when the prices closes above the high of the order block candle ? or when will it be removed. The other question is if a order block works as classical supply demand in the sense that...

Hi Frag;

It's best to take a look at some of ICT's videos to get an idea of what he does

Personally once I see Price reverse from a Order Block on M30 that's it I'm done with it

Higher Time Frame Order Blocks can continue to have an influence on Price for repeated visits

In many ways Order Blocks are the same as Supply and Demand they are just Zones of Pending Orders it depends how many Orders are at a particular Zone and how fast they get Consumed

Often you will see a Order Block that has been Broken Holding Price in the other direction

Check out the posts I made on Sunday where I look at the "Breaker"

The best way though is to do your own research

Regards

Steve
  • #1,197
  • May 25, 2021 3:23pm May 25, 2021 3:23pm
Quoting stevepatt
{quote} Hi Frag; It's best to take a look at some of ICT's videos to get an idea of what he does Personally once I see Price reverse from a Order Block on M30 that's it I'm done with it Higher Time Frame Order Blocks can continue to have an influence on Price for repeated visits In many ways Order Blocks are the same as Supply and Demand they are just Zones of Pending Orders it depends how many Orders are at a particular Zone and how fast they get Consumed Often you will see a Order Block that has been Broken Holding Price in the other direction...
I have seen also many orders blocks broken holding price that is why I was asking, in the ICT videos he mentions that he does not use them in the sense of support become resistance once broken and so on because many times dont work, well no all the order blocks reject prices and work 100% of the time either otherwise the market will be in a constant range, actually nothing works in the market 100% of the time otherwise it will be so easy

Thanks for the reply steve
  • #1,198
  • May 26, 2021 12:40am May 26, 2021 12:40am
Quoting stevepatt
{quote} GBP/USD M30 M5 M1 2x Short Trades {image}
GBP/USD M30 M5 M1 2x Short Trades Results

+11.9
+6
Net Return +17.9

GBP/USD M30 M5 Observations
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 26th May 21 GBPUSD M5 Observations.png Size: 191 KB
Click to Enlarge Name: 26th May 21 GBPUSD M30 Observations.png Size: 198 KB
  • #1,199
  • May 26, 2021 12:59am May 26, 2021 12:59am
Quoting stevepatt
{quote} GBP/USD M30 M5 M1 2x Short Trades Results +11.9 +6 Net Return +17.9 GBP/USD M30 M5 Observations {image} {image}
GBP//USD M5 M1 Observations

Posting the previous charts I missed the opportunity to Trade Short into Bullish Liquidity

See the Switch in Structure and Flow
Attached Image (click to enlarge)
Click to Enlarge Name: 26th May 21 GBPUSD M5 M1 Observations.png Size: 183 KB
  • #1,200
  • May 26, 2021 1:03am May 26, 2021 1:03am
Quoting stevepatt
GBP/USD M30 M5 M1 2x Short Trades Results +11.9 +6 Net Return +17.9
Awesome, Steve, did you take the limit order?
"The hard work in trading comes in the preparation"
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