In this SERIES of threads, I will be covering the topic
of ICTs Weekly Profiles which are the KEY to daily bias.
I will teach you EVERYTHING you need to know
successful for HTF analysis and mastering Daily Bias.
Chapter 2 - Weekly Candle
1
As Mr Circle (ICT) has stated numerous times already.
You want to see in which direction the weekly candle is going to expand, you don't need to predict the exact close just the direction of the expansion, that's it.
'The only thing I am trying to predict is the direction of
the weekly candle' - ICT Utilizing this simple tip you can prevent overtrading so easily because you know exactly when to trade and when not to trade, which days to skip etc. 3
And how do you do that?
At the beginning of the week set a rough directional
bias for your weekly candle
Mark out buyside
Mark out sellside
Determine which one is more likely to be taken
Mark out PD Arrays
Align yourself with Orderflow
4
Ask yourself:
Does price want to run to an old High or Low
Is it running to rebalance an Imbalance
Did we take ERL
Did we take IRL
Are we going from internal liquidity to external or from
external to internal
Look at forexfactory and find high impact news events
aligned with possible low/high of the week scenarios
What day of the week
What time of day What type of event 6
Forexfactory is your best friend open it at the
beginning of the week and determine what the move is for the upcoming week
https://www.forexfactory.com/calendar
Interlude
I will reveal more about Times/Days/Types of news
events in the 3rd edition of the series 7
SKIP MONDAY
I know your favourite twitter traders trading every day,
on weekends 3 sessions daily with a 100% wr lead you to believe you have to spend all day every day on the charts but thats simply not true as you will see when we get to weekly profiles.
Skip Monday. 8
DAILY BIAS IS NOT EVERY DAY BIAS
WE 1ST WANT THE LOW OF THE WEEK TO FORM
AND AN EXPANSION IN THE OPPOSITE DIRECTION WHICH STARTS OUR BIAS / WE WANT TO TRADE WITHIN THE WEEKLY PROFILE REVEALED TO US
AFTER THE WEEKLY PROFILE IS REVEALED /
CONFIRMED WE TRADE THE NEXT DAY
If you know exactly in which direction the market will
go by using all the previously mentioned steps it makes bias so much easier. 10
Example
We determine the weekly candle is drawing higher
We use the economic calendar to determine when the
HTF stops are likely to get ran /Bullish Gap will be filled
Skip monday - Tuesday CPI - Stops ran/Gap - Low
confirmed - Look for longs the rest of the week
-Fin-
THIS IS PART 2/5
In the next CHAPTERS, I will cover Weekly Profiles ,
When to anticipate expansion etc.
And teach you EXACTLY how to deduct in which
direction we can expect the weekly candle to expand after the weekly profile is revealed. Special thanks to: PrimeXBT for sponsoring this thread Trade Forex,Indices, Commodities and more with low fees and no KYC. Sign up to PrimeXBT and recieve a 7% first deposit bonus UP TO 7000$ (promo: marketmaker).
https://go.primexbt.com/click?pid=19240&
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Lets make the Retweet goal 200 for part 3
@TraderSum0 If i didnt understand something i for
sure wouldnt be going around and shitting on it instead id try educating myself so i dont look like a dumbass for an hour so i can shit on it properly
@TraderSum0 Just friendly advice bcs i saw you
somehow misunderstand how a swing high looks like, looks like and even my little brother can spot them without struggling and they're like level 0.001 @TraderSum0 The only thing you unfortunately showed in the vid was double standards and bias + marketing towards your way of trading and ended up looking dishonest tbf
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