πICT POWER OF 3, OHLC/OHLC
This is one of the most important concepts as an ICT trader if you aren't utilizing this in your personal trading I strongly advise you to consider learning and adding it to your arsenal
Chapter 2 - Building a Narrative + Daily Bias
π§΅
This is one of the most important concepts as an ICT trader if you aren't utilizing this in your personal trading I strongly advise you to consider learning and adding it to your arsenal
Chapter 2 - Building a Narrative + Daily Bias
π§΅
If you didn't read the first thread consider reading it its the essentials thread for OHLC the base knowledge everyone needs to have
As I've mentioned in the past thread DAILY BIAS is crucial.
Daily Bias and OHLC are best friends. Once you have your daily bias you can use OHLC to frame a narrative.
OHLC also aids in being more focused while setting up the chart it gives you "structure" you build around
Daily Bias and OHLC are best friends. Once you have your daily bias you can use OHLC to frame a narrative.
OHLC also aids in being more focused while setting up the chart it gives you "structure" you build around
So as mentioned Daily Bias is crucial so how do you determine Daily Bias?
You need to ask yourself
What is the current framework - what is the market doing/has done
(Did we hit a PDA,Did we take out important liquidity,was there a MSS with displacement)
...
You need to ask yourself
What is the current framework - what is the market doing/has done
(Did we hit a PDA,Did we take out important liquidity,was there a MSS with displacement)
...
Where is the next Draw on Liquidity
Did we take ERL
Did we take IRL
Are we going from internal liquidity to external or from external to internal
Do we have clean lows or highs
Do we have FVG's that need to be rebalanced
Mark out BSL and SSL
Did we take ERL
Did we take IRL
Are we going from internal liquidity to external or from external to internal
Do we have clean lows or highs
Do we have FVG's that need to be rebalanced
Mark out BSL and SSL
Look at the current dealing range and pull a Discount/Premium fib find PD Arrays that will assist you.
Most important question:
What is the current weekly profile?
Day trading isn't everyday trading highest probability trading is only after the weekly profile has been revealed if you want to learn more I recommend going through my weekly profiles thread (key to daily bias)
What is the current weekly profile?
Day trading isn't everyday trading highest probability trading is only after the weekly profile has been revealed if you want to learn more I recommend going through my weekly profiles thread (key to daily bias)
πAfter we have a bias for example:
We confirmed that the profile is Tuesday's Low of the week
For the rest of the week, we expect delivery to the upside therefore we expect a candle formation of OLHC, not OHLC.
Reminder: OLHC - Open Low High Close = Up Candle
We confirmed that the profile is Tuesday's Low of the week
For the rest of the week, we expect delivery to the upside therefore we expect a candle formation of OLHC, not OHLC.
Reminder: OLHC - Open Low High Close = Up Candle
With that in mind, we can frame our trades and go on to the next step which is framing the narrative.
If we are bullish for the week *refer to the example above(π)* we ROUGHLY know how the days are going to look something similar to this image
If we are bullish for the week *refer to the example above(π)* we ROUGHLY know how the days are going to look something similar to this image
Obviously, there will be deviations but you expect a similar structure to form
We Open-> Judas below True Day Opening Price->We continue to the upside
(Reminder im still working around the example *π*)
We Open-> Judas below True Day Opening Price->We continue to the upside
(Reminder im still working around the example *π*)
Also another way we can use OHLC to aid in our narrative is by expecting that each day we are very likely to take out either the PDH or PDL
So with the previous example in mind we can expect that PDH will be used as targets while delivering to the upside after forming the LOTW.
So with the previous example in mind we can expect that PDH will be used as targets while delivering to the upside after forming the LOTW.
To conclude:
If you have a good understanding of OHLC and Daily Bias/Weekly profiles you will make your trading much easier.
If you have a good understanding of OHLC and Daily Bias/Weekly profiles you will make your trading much easier.
In the next thread i will be explaining an OHLC GEM called CPE diving deeper into OHLC Phases/ PO3 phases giving you an idea how to backtest and MUCH MORE
If you want to see that get this thread to 300 retweets and thanks for the support
If you want to see that get this thread to 300 retweets and thanks for the support
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I will be doing a 50,000 USD tourney and a MacBook giveaway with them SOON and for those you will need to have an account created as a part of my community to join.
If you're interested sign up :
partner.bybit.com
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