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2/10/2023: SMT Helps You Anticipate Price Reversals
I think of Impulse Price Swings as elastic bands
If price on one asset (A) went very far down while it's correlated asset (B) didn't, then it is likely that on the way up B will go higher than A
How is this used: Turtle Soup
I think of Impulse Price Swings as elastic bands
If price on one asset (A) went very far down while it's correlated asset (B) didn't, then it is likely that on the way up B will go higher than A
How is this used: Turtle Soup
Turtle Soup is ICT's term for a false breakout of a Liquidity Pool. Price crosses the Liquidity Pool level and then quickly reverses back the other direction
In the example above NQ went down through several Sellside Liquidity levels while ES could not get through one
This means that NQ was stronger to the downside so we should expect NQ to be weaker on the upside Impulse Price Swing
We can use this process to frame our trades
This means that NQ was stronger to the downside so we should expect NQ to be weaker on the upside Impulse Price Swing
We can use this process to frame our trades
Turtle Soup Trade:
I saw this divergence between ES & NQ. I had already marked out the ES Buyside & NQ FVG. As soon as I saw ES takeout Buyside and NQ filled the FVG exactly I knew the reversal was imminent.
So I went short with 1 contract in both MQN and MES at the same time
I saw this divergence between ES & NQ. I had already marked out the ES Buyside & NQ FVG. As soon as I saw ES takeout Buyside and NQ filled the FVG exactly I knew the reversal was imminent.
So I went short with 1 contract in both MQN and MES at the same time
Turtle Soup Trade NQ:
Here is my screenshot from NQ. This was my first ever Turtle Soup! I trusted my analysis but I was pretty scared. Price immediately reacted like I expected but on the first small retracement I got scared and sold for profit.
Here is my screenshot from NQ. This was my first ever Turtle Soup! I trusted my analysis but I was pretty scared. Price immediately reacted like I expected but on the first small retracement I got scared and sold for profit.
Next time I will try to hold for Equilibrium of the Impulse Price Swing. I started small and I will work up my confidence hopefully by duration and number of contracts.
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