Here we can see the market maker's sell model at work.
An initial accumulation, with two runs towards resistance, with the institutionals reversing course back down into large liquidity pools (easy money). There are two potential distribution areas because 1) EUR is not 'that' strong 2) GBP is not 'that' weak either so at the moment I'm unsure which of the two will be used. Could be liquidity is more interesting after all and there will be euro's on the table. Could also be it reaccumulates into a larger scheme (4h) bullish market. We don't know anything for sure right?
I'll be analyzing 4h tomorrow again and; paying attention to the first distribution to spot possible bullish signs. Because it can be we only have one distribution area to work with.
I already had a short going since this afternoon's high, but I'll add to it when we reach 70.5% optimal trade entry. We could however not see price retrace back up again because I spotted a smaller timeframe sell which is the blue candle in the neck right there.
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Here's the 15 min chart showing the possible low risk sell already active:
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Note to self: don't use bearish orderblocks when the general trend on a larger timeframe is bullish and vice versa. It makes no sense looking for potential reversals on lower timeframes if there's no underlying reason on a larger timeframe!
Interesting! Have you been studying the innercircletrader?
UnknownUnicorn468659
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Hi KaQing, yes certainly! I'm still studying the Market Marker series and want to digest the theories to later reference good or bad analyses.
KaQing
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Nice. Hope you succeed with his theories. I would really like to know what parts of his teachings work and which not. For example I cant't imagine, that the NY and London Open Tactics (Algotrading scheme) work... Did you find the Market Maker series useful until now? I really liked the Support Resistance Videos of him.
KaQing
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btw that's my setup for the EG
UnknownUnicorn468659
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For now, I'm having trouble resetting the old supply and demand thoughts I've become accustomed to. So far I've yet to make a live trade using his theories because I simply can't combine all required 'tools' yet. I believe that ICT gives a complete package in understanding the market maker and so I don't so much want to sort of single out any of the theories at all; instead I try to best set this in stone here and make it available to others. Learning from my success or mistakes pretty much experiencing my studying as well. For now I'm a big fan of combining turtle soups with ICT orderblocks. But as I said, I've not even been consistent paper trading let alone do anything with it live yet.
Nice chart KaQing, I hope it will however decide to come back around sooner.
Best regards,