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1M Price Action System

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  • #2,361
  • Jul 28, 2021 4:36am Jul 28, 2021 4:36am
lesson to learn for scalp or day trading.
opportunity lost, not once but twice.
wrong placement of tp at round number.
yesterday high is already a major structure.
the first ob was from m5.
so far turned out to be ranging day.
Attached Image
ITB - Seeing Orderliness amongst 'Randomness'
  • #2,362
  • Jul 28, 2021 5:02am Jul 28, 2021 5:02am
Quoting Inthebox
lesson to learn for scalp or day trading. opportunity lost, not once but twice. wrong placement of tp at round number. yesterday high is already a major structure. the first ob was from m5. so far turned out to be ranging day. {image}
I am applying this concept to supplement planning of my trades using TMS. Just started recently so using some very early ideas of this thread.

OB level for anticipation of setup, BOS to confirm bias (still exploring the appropriate BOS). divergence to signal timing. Entry was based on TMS.
The entry is not as early as placing orders in OB, but for now I like the high chance of trading into profit and BE+ so less losing trades. Just my style and developing...

1.38852 >> 1.3868

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  • #2,363
  • Jul 28, 2021 5:34am Jul 28, 2021 5:34am
Quoting tommydoginti
{quote} OB level for anticipation of setup, BOS to confirm bias (still exploring the appropriate BOS). divergence to signal timing. Entry was based on TMS. The entry is not as early as placing orders in OB, but for now I like the high chance of trading into profit and BE+ so less losing trades. Just my style and developing... 1.38852 >> 1.3868 {image}
there will be lots of BE and small SL.
just use BOS and OB.
you can include divergence if you like.
but it can be a hindrance in lower time frame.
aim for rr 1:5 (minimum 1:3) in the beginning, to cover losses with profit leftover.

btw my bias for gu is still up, although ranging now.
adieu amigo ..... until then.
ITB - Seeing Orderliness amongst 'Randomness'
  • #2,364
  • Jul 28, 2021 5:55am Jul 28, 2021 5:55am
Quoting Inthebox
lesson to learn for scalp or day trading. opportunity lost, not once but twice. wrong placement of tp at round number. yesterday high is already a major structure. the first ob was from m5. so far turned out to be ranging day. {image}
we have fomc today. so dont expect much before that. also if you zoom out on higher TF one could see a lot of resistance in the area of yesterday's highs. I bet we will have a lot of volatility after FOMC and tomorrow.
The more you learn the more you earn
  • #2,365
  • Jul 28, 2021 7:53am Jul 28, 2021 7:53am
the following is my market view.
price takes out the low, then takes out the high, pullback and take off.
take it with a pinch of salt. may not work out.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #2,366
  • Jul 28, 2021 7:58am Jul 28, 2021 7:58am
EURUSD long inside the h4 OB
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cut your losses short and let your profit run
  • #2,367
  • Jul 28, 2021 8:46am Jul 28, 2021 8:46am
post 1 lesson 3 - fair value gap.
i still don't fully understand. can someone please explain?
long - confluence of fib 38 and round number.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #2,368
  • Jul 28, 2021 9:19am Jul 28, 2021 9:19am
Quoting Inthebox
post 1 lesson 3 - fair value gap. i still don't fully understand. can someone please explain? long - confluence of fib 38 and round number. {image}
Have a look on M1 and see where more aggressive buying started the up move that left a FV gap. Price returned to the OB.
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  • #2,369
  • Jul 28, 2021 10:16am Jul 28, 2021 10:16am
Quoting Inthebox
post 1 lesson 3 - fair value gap. i still don't fully understand. can someone please explain? long - confluence of fib 38 and round number. {image}
Hope it may be of some value, keep back testing.
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"Exchange of hands"
  • #2,370
  • Jul 28, 2021 10:18am Jul 28, 2021 10:18am
Quoting tommydoginti
{quote} I am applying this concept to supplement planning of my trades using TMS. Just started recently so using some very early ideas of this thread. OB level for anticipation of setup, BOS to confirm bias (still exploring the appropriate BOS). divergence to signal timing. Entry was based on TMS. The entry is not as early as placing orders in OB, but for now I like the high chance of trading into profit and BE+ so less losing trades. Just my style and developing... 1.38852 >> 1.3868 {image}
dont look RSI on M1 you may miss alot of other details like stop hunts, internal and external range liquidity, fair value gaps, order blocks breakers.
"Exchange of hands"
  • #2,371
  • Jul 28, 2021 10:29am Jul 28, 2021 10:29am
Quoting Inthebox
lesson to learn for scalp or day trading. opportunity lost, not once but twice. wrong placement of tp at round number. yesterday high is already a major structure. the first ob was from m5. so far turned out to be ranging day. {image}
first level of TP can be yesterday high, since liquidity usually reside above/below yesterday high and lows and price turns from there, in todays scenario price is respecting yesterday high and did a BOS on the other side, and making lower highs, perhaps the intention is to push the prices to down side using FOMC.

dont trade fomc just watch
"Exchange of hands"
  • #2,372
  • Jul 28, 2021 1:51pm Jul 28, 2021 1:51pm
Quoting bilal1947
{quote} dont look RSI on M1 you may miss alot of other details like stop hunts, internal and external range liquidity, fair value gaps, order blocks breakers.
You're not using RSI on M1 anymore? I thought that was the basis for this thread? I'm still using RSI divergence on M1 to find trades around HTF key levels, getting about 75% win rate.
  • #2,373
  • Edited 6:51pm Jul 28, 2021 6:22pm | Edited 6:51pm
Quoting xiqat
{quote} You're not using RSI on M1 anymore? I thought that was the basis for this thread? I'm still using RSI divergence on M1 to find trades around HTF key levels, getting about 75% win rate.
You may keep as it works still as you said and very easy, but mind only look for it, but to learn more as per ICT i had stopped it. It doesn't mean it dont work.
"Exchange of hands"
  • #2,374
  • Jul 28, 2021 9:12pm Jul 28, 2021 9:12pm
Quoting bilal1947
{quote} dont look RSI on M1 you may miss alot of other details like stop hunts, internal and external range liquidity, fair value gaps, order blocks breakers.
Thanks. I am studying from early posts. Also I am using TMS TDI (RSI MAs) as a tool for trade entries, so ATM I am taking your previous divergence ideas. Haven used divergence as confluence for a while, so I am catching up with your progression in this system as time goes by and will eventually not using divergence. Thanks for the heads up.
  • #2,375
  • Jul 29, 2021 12:34am Jul 29, 2021 12:34am
Quoting bilal1947
{quote} You may keep as it works still as you said and very easy, but mind only look for it, but to learn more as per ICT i had stopped it. It doesn't mean it dont work.
It works if you get the context right.
  • #2,376
  • Jul 29, 2021 3:41am Jul 29, 2021 3:41am
Quoting Inthebox
the following is my market view. price takes out the low, then takes out the high, pullback and take off. take it with a pinch of salt. may not work out. {image}
hehehe ........
not too far off.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #2,377
  • Jul 30, 2021 5:27am Jul 30, 2021 5:27am
usdcad. economic news coming very soon. would be interesting.
ITB - Seeing Orderliness amongst 'Randomness'
  • #2,378
  • Jul 30, 2021 7:00am Jul 30, 2021 7:00am
usdcad before news.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #2,379
  • Jul 30, 2021 7:06am Jul 30, 2021 7:06am
usd cad after news.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #2,380
  • Jul 30, 2021 7:31am Jul 30, 2021 7:31am
I think I am starting to grasp the idea. Seems an effective way to look for price levels to anticipate a price reaction.

It may or may not happen, but if GU goes down trend my guess is a major pull back/reversal at this OB.

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