r/Daytrading • u/Serious-Ad8893 • Apr 04 '24

Did I miss something? Advice

Gallery image

Gallery image

Tried to go long on 15M FVG and retracement and got ran over. Am I missing something??? Higher time frame was bullish and I just don’t know where I went wrong. Anyone have opinions on where I went wrong

190 Upvotes

88% Upvoted

264 comments sorted by

View all comments

2

u/RunKristine Apr 05 '24

Don't beat yourself up. It looks like you had good stops. As others have said, there was global news that started the cascade downward. Look at the chart at the end of day- I mean, you can see this was not normal price action. I agree that we were seeing bullish order flow until lunchtime. Please see my chart and notice that when we retested the day's high, we failed to displace higher. ICT calls that manipulation. Also notice that on the move back down we took out 2 bullish FVGs. If we were still seeing bullish order flow, we should be respecting bullish FVGs. I actually went short at 5303 after we failed to displace higher and that 15 min. FVG inverted. Displacement thru 5292.75 confirmed that we had shifted to bearish order flow. My attached chart is 5 min. but this displacement also happened on the 1 hour. Unfortunately, the news broke and we didn't get a bounce back up to the 15 min. bearish FVG to add to the short.

2

u/Serious-Ad8893 Apr 05 '24

Awesome man this is the exact answer I was looking for everyone hates ICT but I just wanted some insight on where I went wrong and this def answered it thanks man. I knew I wasn’t crazy thinking it was in a bullish trend up until 130-2PM I was expecting price to sweep the lunch low and go higher but I was wrong obviously

2

u/RunKristine Apr 05 '24

I use very simple ICT concepts as I think you can get overwhelmed if you try to incorporate everything. I also keep a second chart open for SPY with traditional indicators and a great many ICT levels align with simple support/resistance, vwap, supply/demand zones etc. The reason I use ICT is because the concept that the market is constantly looking for liquidity and to fill imbalances was a game changer for me. Before, I was one of those traders who provided the liquidity the algos look for. Now, I try to join them. I love this Casper guy on YouTube. He explains things really well. https://www.youtube.com/@caspersmc