Price action trading - Trade like the pros!

Quoting goodtiding5

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Election day madness :-) {image}

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Quoting gustcoelho

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nice thread WDays! ICT rules! not easy to incorporate all concepts together... i've been studying it for a while. just took a trade long on EU at 1.10 inside bullish order block at H1 (as well as USDX. but bearish) exact bullish order block at M5 (as well as USDX, but bearish) time of day (NY open kill zone) big round number little stop loss r/r very interesting {image} lots of things together, BUT today no one knows the outcome >>> tight money management let's wait

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Quoting WDays

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Commitment of Traders line chart with Open Interest. We see a sharp drop in Open Interest, which means long positions covering prior to the election. However, the CoT data suggests commercials are increasing hedging & large speculator are positioning themselves long. The idea of CoT reports is that Large Speculators are trend followers, Commercials are hedgers. So for a rally, LS are net-long and CS are net short. {image}

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Quoting gustcoelho

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nice thread WDays! ICT rules! not easy to incorporate all concepts together... i've been studying it for a while. just took a trade long on EU at 1.10 inside bullish order block at H1 (as well as USDX. but bearish) exact bullish order block at M5 (as well as USDX, but bearish) time of day (NY open kill zone) big round number little stop loss r/r very interesting {image} lots of things together, BUT today no one knows the outcome >>> tight money management let's wait

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Quoting gustcoelho

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{quote} very difficult to me planning trades with COT info since commercials are long, we want to go long, but when? they can accumulate much more than expected, i think. it's a good tool for sure, but i can't time it with charts

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Quoting gustcoelho

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{quote} stop loss hit

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Quoting WDays

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{quote} I don't use it to plan trades, I use it to back my bias. Commercials being net long would mean overall bearish trend, since like I said they're selling as it rallies and buying as it declines. So you have to look at it mirrored. I'd refer you to that post again, large speculators (hedge funds and the like) are trend followers so if they're overall net-long, expect a bullish market.

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Quoting gustcoelho

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{quote} yes, large specs go with the trend and the commercials go on the opposite. so you are more focused on large specs to define trend and so your bias? i tought ICTs mindset was to sniper commercials accumulation and try to get the top/bottom they make. i really can see that's gold what ICT shared, but i'm really struggling in put it all together. very frequently, i catch myself doing trades counter trend, chasing order blocks and at the other side, when following the trend, very frequently we're going into and opposite order block hope this...

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Quoting WDays

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{quote} Even if what we do here is strongly inspired by ICT, it's not full on ICT. I don't implement CoT analysis the same way as he does. For me, it's a tool to back-up my analysis.

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Quoting WDays

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Curious, did anyone capitalize shorting the euro?

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Quoting Koop

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{quote} Your analysis is spot on Wdays.. great to see someone trade this way... all the information one needs to trade profitably is on the charts and only experience and months and months of chart study is required to get a hang of this business.. on the EurUSD.... my bias had been bearish long before the election since it broke 1.1000 BRN and other technical levels highlighted on my chart... so i saw all bullish moves as temporary correction and had been waiting for a retest of the Key levels. once the election whipsaw happened, i watched how...

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