ICT Forex Review January 09, 2023
Forex Daily Chart Analysis
The speaker provides an analysis of the daily chart of the dollar index and shares some charts on Twitter. They discuss levels, liquidity, and value gaps.
Levels and Liquidity
- The speaker discusses opening prices on the hourly chart for September 9th.
- They mention a South Side liquidity pool and fair value gap on the daily chart.
- On the 15-minute timeframe, they point out Buy South Dakota and South Side liquidity during a London session.
- The New York open Killzone is discussed as a time when there was a drop in price.
Support and Resistance
- A city outside of balance by side efficiency is mentioned.
- The algorithm kicks in when it trades into the daily pair that you got one dollar Index.
- The market turns at noon exactly how it's taught in core content.
Euro Dollar Daily Chart Analysis
The speaker analyzes the daily chart for Euro dollars, discussing levels, order blocks, and retracements.
Levels and Order Blocks
- The speaker mentions bicycle here an old high back here we're looking for that as well and a Fair Aid Gap right here.
- They discuss an order block on the hourly chart from September 8th.
- On the 15-minute timeframe, they point out a cell solid coating pool during London open.
Retracements
- A small little retracement is mentioned before rallying up to create a high up here.
- The London open Killzone is discussed as a time when the South Side was taken and rallied up into 7 A.M beginning of New York open kill Zoom.
- The speaker discusses how to look for a setup in London open and what to expect during the day.
# Understanding Price Movement
In this section, the speaker discusses how to understand price movement and use Fibonacci projections.
Using Closing Prices for Analysis
- The speaker explains that closing prices are useful for analysis because they provide a clear picture of price movement without the interference of wicks.
- The speaker suggests using Fibonacci projections to analyze price movement. These projections can be based on standard deviations such as 1, 1.5, 2.5, 3, and 3.5.
Homework Assignment
- The speaker assigns homework to study how the London open Kill Zone is formed and how it continues into the New York open Kill Zone.
- Students are instructed to measure the distance between the low and high of the day in London close and project their analysis up until the opening price in New York.
Overall, this section provides an introduction to analyzing price movement using closing prices and Fibonacci projections.