One of the most important lessons I have taken from the ICT mentorship was from month 1, which was identifying HRLR and LRLR
Here's a thread on why they are so important to ones trading 🧵
HOW TO MAKE DECISIONS BASED ON ECONOMIC NEWS 🗞📈📉
I'm going to be talking about decision making process before/during/after the news utilizing economic calendar and traditional characteristics of economic news.
THREAD 🧵...
An example from ICT's trade. I told you all a month ago on twitter that FVGs are also used to count candles, not the highest highs and lowest lows only.
He's literally teachings the sequence right now. @I_Am_The_ICT It has bearing to his concepts :D
This is how Price is Delivered:
Expansion -> Order Block
Retracement -> Liquidity Void / FVG
Reversal -> Liquidity Pool
Consolidation -> Equilibrium / 50%
ICT Uses SMT Divergence In 90% Of His Trades. You Must Know How To Spot One So Here Is A Thread About SMT For Dummies!
Explained in detail using pictures⬇️
IPDA Daily Time + Price
1. Consolidation = Asia Range
2. Manipulation = Judas Swing
3. Expansion = London Kill Zone
4. Retracement / Reversal
5. Consolidation = 0500-0800ET
6. Manipulation = Data
7. Expansion = New York Kill Zone
8. Retracement / Reversal = London Close
Go to 1.
How to succeed in trading:
Disappear for 6 months.
Study ICT nonstop.
Watch core content 4-5 times over.
Do this one task.
Focus.
Beat it into submission.
Come back an unrecognizable freak of the markets.
If you do not have a Trading System, here is a good one:
HTF POI -> LTF EQH/EQL -> LTF Stops Taken -> BOS + Displacement + FVG -> RT FVG in Discount + OTE -> LTF Entry -> LTF DOL -> HTF DOL
If you know, you know:
For Long Entries - Wait for price to move into HTF POI such as +OB / FVG / PDL / EQL / SSL then Execute on LTF MMBM / SMR + MSB
For Short Entries - Wait for price to move into HTF POI such as -OB / FVG / PDH / EQH / BSL then Execute on LTF MMSM / SMR + MSB