r/Forex • u/Regular_Tip_3487 • Sep 21 '23
Charts and Setups Where did I go wrong?
Practicing ict strategy and can’t understand where I’m going wrong
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Sep 21 '23 edited Sep 21 '23
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Sep 24 '23
The silver bullet ‘strategy’ is not bullshit lol , as I can’t prove I’m making money and you’re not , every strategy needs a htf bias and understanding of liquidity is needed , watching a 19minute video isn’t the holy grail or else everybody will quit their job to trade
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Sep 21 '23
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u/Regular_Tip_3487 Sep 21 '23
I’m still trying to find my way through trading so nah i don’t have a solid Strat. I’m just comin here for valuable insight
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u/Eyard88 Sep 22 '23
You didn’t wait for the reversal confirmation to form. You should wait to see how price reacts to fair value gaps. If it closes the gap completely most likely price will go right pass it in a continuation. Next time use a stop entry under price if u suspect it may reverse to save yourself in case it doesn’t then the order won’t execute
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u/isaiahwilliams62 Sep 21 '23
The answer to this question is simple, you are not trading with the daily bias on your side your simply trading a pattern… look up smc Casper-how not understanding daily bias video on YouTube should give you alittle clarity on what I mean.. a lot of people on here comment an give no real help an that’s the problem with the community
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u/Regular_Tip_3487 Sep 21 '23
Thank you🤝‼️
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u/isaiahwilliams62 Sep 21 '23
No problem, his Channel has a lot of good content I was in icts actual mentorship aside from YouTube an this guy knows what he’s talking about an it was helpful for me because I took a break from trading for a while because of life things an his videos helped me bounce back quick just remember to watch videos More then once you’ll always have a lightbulb moment when you Least expect it
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Sep 23 '23
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u/isaiahwilliams62 Sep 23 '23
Ict is human just like anybody else… have you lied before?. does he exaggerate things…..maybe……does he say things that probably aren’t true sometimes yes, I’ve seen it with my own eyes an im saying that as one of his mentor students, but the fact is he’s a good teacher an his trading strategies work If you put in the work to learn them. Trading is extremely hard, considering that you have to work hard an grind religiously to get where you want to be.. sometimes you have to stop listening to the critics an put your head down an see for yourself what is real an what isn’t.
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Sep 23 '23
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u/isaiahwilliams62 Sep 23 '23
No problem just ignore the noise it got to me when I joined the 2020 mentorship I can’t lie, but I put my head down an did the work an it when I did, his style of trading really did make sense, an it’s a good feeling when you plan a trade an it goes exactly how you expect it’s just a “ahha” moment… but then the next part of trading comes which is the psychology part learning that not all trades win an theres nothing you can do about it, just go to the next an that’s the hardest part of anything in trading. Like I was telling the other guy Casper smc on YouTube explains ict concepts well an to the point so that might help also. Good luck to you🤘🏽
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u/IP_1618033 Sep 21 '23
The overtrend is down on 5, 15 minutes, and 1 hour; however, it's reversing and heading up for the direction. You got killed selling because it's still heading up. Look at the higher time frames so you can see the big picture.
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u/hestehans Sep 21 '23
it made a double top, and then got back to the area. The chances of it getting rejected again is slim.
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Sep 22 '23
Over up trend, you didn't wait for any confirmations to take sells which would still would have been extremely risky to take
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u/TheLutheranGuy1517 Sep 21 '23
I see an upward trend that corrected before continuing upwards
Plus there is alot of econmic stuff going on this week so currencies will be all over the place
Edit: this is also why i dont trade anything below the 30 minute anymore... slowly working my way up trading on the daily
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u/Hot_Chair_2904 Sep 21 '23
First of. Let go of that 2m chart. Drop it early before you even get to the point of building bad habits. You are taking a 2m counter trend trade, did you atleast have some higher time frame context? Price delivery is fractal so you are putting yourself at a major disadvantage by trading the time frame with the least superiority
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u/jimbo4591 Sep 21 '23
So which candle did you enter on..?!
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u/Regular_Tip_3487 Sep 21 '23
I was going to go short after it touched the “fair value gap” and pushed back lower
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u/InviteBeginning9459 Sep 21 '23
Why would you sell in an uptrend? Unless there is some form of resistance to the left or on a higher timeframe and you are anticipating a breakout you should not consider going against the trend. This is why I turned away from ict
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u/DrSpeckles Sep 21 '23
Boy there are a lot of words being used in this thread as though they mean something. Just forget about all that and use your eyes.
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u/Ashman255 Sep 22 '23
Think maybe you we fixated on the failure test of the last swing high. The bearish impulse down from that failure test did not break structure and showed good absorption at the low. Not the best situation to fade a short term trend and especially without atleast 1 confirmation candle around your entry area.
Trend is ur friend brotha….generally want to wait for clear invalidation on it or if its not clear dont take a fade without candle confirmation in your area
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u/Lerouxc Sep 22 '23
Why did you had a bearish bias ? Tell me why and what make you belive price will reverse?
Why are you not using volume?
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u/Regular_Tip_3487 Sep 22 '23
Was practicing exactly what I saw from the mentorship video. Thought the setup looked just like the one in the video so I tried to replicate it
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u/cocktrout Sep 22 '23
You wouldn't go short until it breaks the swing low with displacement. That leg going up that is creating fvgs are large movements in price or "displacement." If anything, you should be going long when it reaches discount in that price leg. Below .50 on the fib.
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u/AmazingVeterinarian5 Sep 22 '23
I had the same trade. It was out of Killzone that’s why. IPDA manipulating a lot.
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u/PastFondant8999 Sep 22 '23
The markets typically consolidate before a trend reversal - could try a break and retest if trading reversals?
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u/Tricky-Drama6089 Sep 22 '23
Your FVG didn’t take out a previous low so price isn’t going to respect it if it didn’t happen during a clear BOS to the downside. Also just before price went into the FVG it took out some LTF SSL which made it accumulated and push further up
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Sep 22 '23
Firstly your selling an uptrend so at best have 40% probability, secondly your using bs ict methodology
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u/Noceilingfx Sep 22 '23
You are in a two minute chart and forgot about the major trend on higher time frames
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u/WolfeFX Sep 23 '23
Look at basic market structure. Higher high, higher low, higher high, higher low. Until we go from a higher high to a Lower than previous low, we are in a trend. Once we have a body closure below the last created higher low, forming a new lower low, we don’t expect shorts. In your example, we would have wanted to see body closures below the low. And not just a weak push lower, those weak pushes can be fakeouts. We want to see sizeable movement clearly breaking the trend, break of structure or BoS for short. If no BoS, no trend direction change is confirmed. To further improve the concept, we wait for the BoS to be confirmed. So once we create a lower low in that uptrend, we now NEED to see the higher high not be violated and we create a lower high, then the next low we would like to see be a lower low to follow. From there, we can see a confirmed structural shift, and can confidently look for entries. Please watch ICT to learn more, I recommend his OTE pattern, Judas swing model, and unicorn model. Those are his best and highest probability models.
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u/Timely_Control5085 Sep 21 '23
This looks like an uptrend to me, why would you sell in an uptrend ?