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1M Price Action System

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  • #4,381
  • Apr 5, 2022 3:12am Apr 5, 2022 3:12am
Quoting Inthebox
{quote} I want to ask is the power of 3 calculated from the opening price of the candle or the opening price at 0 NY time? i am sure NY midnight is the opening price for US indices. not sure for forex. probably a normal candle is used.
Its still midnight NY for forex aswell mate.

Your broker will have its own opening price, but midnight NY is the True Day Open.
  • #4,382
  • Apr 5, 2022 3:14am Apr 5, 2022 3:14am
just to show power of 3.
two m1 scalps being applied during frankfurt open.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #4,383
  • Apr 5, 2022 3:19am Apr 5, 2022 3:19am
Quoting Inthebox
just to show power of 3. two m1 scalps being applied during frankfurt open. {image} {image}
I want to ask what is Frankfurt?
C? h?i v?n còn ?ó, ch? có ti?n là m?t ?i.
  • #4,384
  • Apr 5, 2022 3:24am Apr 5, 2022 3:24am
Quoting 7stnam
{quote} I want to ask what is Frankfurt?
it can also be considered as europe open.
one hour before london open.
https://mi.bankenverband.de/english/...ancial-centre/
ITB - Seeing Orderliness amongst 'Randomness'
  • #4,385
  • Apr 5, 2022 4:10am Apr 5, 2022 4:10am
after having done his analysis on htf, a true scalper only focus on the ltf.
he knows the terrain and his bearing. all his entries and tp are from the same ltf.
there won't be complaints that why he took profit early and left a lot on the table.
neither will he consider himself lucky that market later turns against him.

incidentally why price came down?
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ITB - Seeing Orderliness amongst 'Randomness'
  • #4,386
  • Apr 5, 2022 5:03am Apr 5, 2022 5:03am
asia session was in consolidation waiting for break out.
so which side is it going to be the true one?

previous day long candle was a huge one with momentum.
but it could also be an exhaustive one.
it left a number of fvg below.
if london high is the high of the day, then NY probably is going down to fill the fvg.

sorry for mumbling my thought process.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #4,387
  • Apr 5, 2022 7:42am Apr 5, 2022 7:42am
Quoting Inthebox
{quote} these are all hand drawn in multi time frames, based on what i see. so it is hard work. different people with different experience will draw them differently. these are the things i watch out for in multi time frames: {image}
I want to ask what is TL?
C? h?i v?n còn ?ó, ch? có ti?n là m?t ?i.
  • #4,388
  • Apr 5, 2022 8:05am Apr 5, 2022 8:05am
Quoting 7stnam
{quote} I want to ask what is TL?
trend line
ITB - Seeing Orderliness amongst 'Randomness'
  • #4,389
  • Apr 5, 2022 9:17am Apr 5, 2022 9:17am
Quoting Inthebox
it left a number of fvg below. if london high is the high of the day, then NY probably is going down to fill the fvg. {image}
hey they listened. the wall has ears.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #4,390
  • Edited 9:32am Apr 5, 2022 9:21am | Edited 9:32am
Quoting Inthebox
incidentally why price came down? {image}
ict will make one video on this.
entry very clear on m15 when ny exch opened.
liquidity taken, market structure shift, fvg.

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ITB - Seeing Orderliness amongst 'Randomness'
  • #4,391
  • Edited 11:08pm Apr 5, 2022 10:52pm | Edited 11:08pm
Quoting af2493
{quote} Hello Pumi, Is there a specific reason to believe that price will continue south after returning to that order block instead of seeking out the relative equal highs just to the left? Or would this just be a matter of HTF bias? Thanks.
Hi AF, there were many things that came into play (confluence). The HTF was considered. Also there was already a continuation of BOS's favouring the downside - major BOS #1 and price returned to partially fill the gap; then there was BOS #2 and #3 (all pointing to the downside). By the time ITB entered the trade, confidently, everything pointed to the downside - possibly showing no interest for the liquidity that might be lying above those equal Highs (where Sell Stops were absorbed). Remember prior to this price was showing an upward trend which failed to take out the High at BC (Buying Climax).

In addition to applying some of the ICT concepts I also applied some of the Wyckoff and VSA concepts which were also in agreement (pushing through Support and retrace to near 50% following the rejection at the top - Buying Climax and Up Thrust / Test).
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  • #4,392
  • Apr 5, 2022 11:11pm Apr 5, 2022 11:11pm
Quoting Pumi
{quote} Hi AF, there were many things that came into play (confluence). The HTF was considered. Also there was already a continuation of BOS's favouring the downside - major BOS #1 and price returned to partially fill the gap; then there was BOS #2 and #3 (all pointing to the downside). By the time ITB entered the trade, confidently, everything pointed to the downside - possibly showing no interest for the liquidity that might be lying above those equal Highs (where Sell Stops were absorbed). Remember prior to this price was showing an upward trend...
Briliant explanation! In addition to that, the Aussie was strong prior to yesterday's news release.
Well said Pumi, many confluences indeed.
Face 'ur fears & tame 'ur greed
  • #4,393
  • Apr 5, 2022 11:20pm Apr 5, 2022 11:20pm
generally speaking.
when i started out, they said trading is simple.
when price goes up, you buy.
when price comes down, you sell.
simple.

so i traded from top to bottom, bottom to top.
then when i asked myself why my equity keeps on decreasing,
i realized that i was given half truth, which is more dangerous when disguised.
not easy.

the statement was not complete.
then it becomes trading is simple but not easy.
yet why they still keep on saying keep it simple, keep it simple.
how simple can you get?

then ict concept solved most of the puzzles of being simple.
trade by just drawing lines and boxes.
instead of trading from top to bottom, bottom to top,
now i trade from liquidity to fvg or liquidity (on htf), and from fvg to liquidity or fvg (on ltf)
but it is still not easy.
at least now it is less complex.
ITB - Seeing Orderliness amongst 'Randomness'
  • #4,394
  • Apr 5, 2022 11:35pm Apr 5, 2022 11:35pm
Quoting Inthebox
this is presently the weakest pair. just observing the monthly support. what will happen during london open and new york open? will it bounce up till previous month low? {image}
working its way to fvg.
Attached Image
ITB - Seeing Orderliness amongst 'Randomness'
  • #4,395
  • Apr 6, 2022 12:04am Apr 6, 2022 12:04am
Quoting JereMi256
{quote} Briliant explanation! In addition to that, the Aussie was strong prior to yesterday's news release. Well said Pumi, many confluences indeed.
Yes, it was showing strength. I was trading the EURAUD (instead of GBPAUD and my preferred EURUSD, lately).
  • #4,396
  • Apr 6, 2022 2:34am Apr 6, 2022 2:34am
before believe, i wait for NY to hit high LO, after believe, i expect price to go down OB M30, i entered M1 and lose, i don't understand where i went wrong
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C? h?i v?n còn ?ó, ch? có ti?n là m?t ?i.
  • #4,397
  • Apr 6, 2022 2:37am Apr 6, 2022 2:37am
original target was asia low.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #4,398
  • Apr 6, 2022 2:59am Apr 6, 2022 2:59am
Quoting 7stnam
before believe, i wait for NY to hit high LO, after believe, i expect price to go down OB M30, i entered M1 and lose, i don't understand where i went wrong {image}
the mistake is: time of day

you traded what ict asked you not to. new york lunch time,
you would have won if you traded the ny exch open.
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ITB - Seeing Orderliness amongst 'Randomness'
  • #4,399
  • Apr 6, 2022 4:23am Apr 6, 2022 4:23am
i have just seen this and want to share with traders.
this can be applied to just about anything like exercising, learning new things, doing chores....... etc.

Whatever plan you are trying to build, you scale it down to the most basic.
Show up at the Time of Day (London Open or New York Open) no matter how little time is available.
To most people it is kind of ridiculous and time wasting.
The point is you are mastering the art of showing up.
A habit has to be established before it can be improved.
Until you become the person who shows up everyday, there is nothing to optimize.
We are so worried about figuring out and searched for the 'perfect' plan, but we don't do the thing that is fundamental to it all.
Which is just showing up.
ITB - Seeing Orderliness amongst 'Randomness'
  • #4,400
  • Apr 6, 2022 5:26am Apr 6, 2022 5:26am
A new buzzword thats going to be popular soon "unfinished business".

If I can get a pound for everytime it shows up in the future then I will be able to retire pretty quickly

*Add that to "low hanging fruit"*
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