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53-ICT Mentorship Core Content - Month 5 - Trade Conditions and Setup Progressions

Last modified by Drunk Monkey on 2022-09-17 07:50
1 00:00:18,180 --> 00:00:28,140 ICT: Welcome back, folks, this is lesson 6.2 of January 2017, ICT mentorship, we're dealing with trade conditions and setup progression.
2 00:00:34,770 --> 00:00:40,620 Table me outlining the 1200 Pip move. We mentioned in money management, lesson number five.
3 00:00:46,470 --> 00:00:56,790 And obviously, it just a brief recap, as a refresher, just in case you came back to this lesson solo without going into 6.1, when we're looking at a premium
4 00:00:56,790 --> 00:01:07,230 market, and market are trading near a premium, and we have reasons to suspect that lower future prices in order, we don't know how much time it's going to be
5 00:01:07,620 --> 00:01:19,230 needed to get to that lower future price. But we're looking for a displacement and pricing. And vice versa. In this example, we're gonna be focusing on a
6 00:01:19,230 --> 00:01:30,540 buying opportunity when a market went to a deep discount on a monthly, weekly and daily timeframe, and how we would use that insight to get to a higher
7 00:01:30,570 --> 00:01:45,150 premium future price. And briefly, just as a quick overview, again, since this teaching is going to be specifically dealing with the discount, opportunity,
8 00:01:45,240 --> 00:01:59,370 buying at a discount and aiming for premium objectives are it focuses down here, where mitigation blocks bullish breakers, liquidity voids, fair value gaps,
9 00:01:59,400 --> 00:02:09,870 bullish order blocks, rejection blocks, and old lows or old highs are our focal point for entries on long positions. The idea is we're looking for something
10 00:02:09,870 --> 00:02:23,400 down in this list of arrays to target one of the premium arrays. Now, obviously, professionally, we'll be reaching for it and mitigation block will be a first
11 00:02:23,400 --> 00:02:30,900 objective, then if there's a breaker of any kind, we would aim for that. And we'd have to weigh out whether or not there's a significant force that would
12 00:02:30,900 --> 00:02:42,270 drive it through a breaker. And we'll talk about that should we come to it in our example. And then obviously looking for any range to be filled in for
13 00:02:42,270 --> 00:02:52,110 liquidity void and aiming for fair value gaps in the premium range of the market. And then we look for value gaps, bearish order blocks, and then looking
14 00:02:52,110 --> 00:03:06,930 for a rejection block and or old high and old, historical low. So we're looking for bullish PD arrays to buy into with the expectation of selling it at one of
15 00:03:06,930 --> 00:03:18,690 the monthly premium arrays. If we were looking at a bearish example, which is what we're not going to be doing here, but just for the sake of completeness, we
16 00:03:18,690 --> 00:03:31,170 will be looking to sell short at a bearish PD array. Aiming to cover that short position with one of the bullish PD arrays, mitigation block bullish breaker
17 00:03:31,200 --> 00:03:48,930 liquidity void, they get bullish order block rejection block and or old low or historic high. selling at a premium and buying back at a discount. Before we get
18 00:03:48,930 --> 00:03:57,900 into our actual example, I'm gonna give you some study points. So we keep it in mind when you are looking at price. It's important to keep this as one of the
19 00:03:57,900 --> 00:04:07,920 focal points when you're studying. When markets are at a premium or a discount, they're always going to initially look to rebalance. That means the equilibrium
20 00:04:07,920 --> 00:04:17,580 price point between the last recent range. So even if it doesn't go all the way up to a premium or down to a deep discount, you can always reasonably expect it
21 00:04:17,580 --> 00:04:25,140 to go back to equilibrium. And if that's all you aim for, if you buy at a real deep discount, and just get back to equilibrium, you'll find a lot of trades
22 00:04:25,140 --> 00:04:34,410 like that if you're a big premium in the marketplace, you're at historic highs or a annual High or three month AI, you got a real good chance of seeing the
23 00:04:34,410 --> 00:04:45,330 market sell off back to some equilibrium price point of the most recent trading range when markets are in premium again, and if you're an equilibrium, you're
24 00:04:45,330 --> 00:04:58,800 gonna be focusing on the market potentially moving up into one of these monthly PD arrays that possibly may be a shorting opportunity. When the markets at
25 00:04:58,830 --> 00:05:12,330 equilibrium can enter As a market moved down into a monthly discount, aiming for one of the PD arrays as an objective to basically at equilibrium, you can look
26 00:05:12,330 --> 00:05:20,670 for either expansion on the upside or downside now you're gonna be consulting the market structure on a monthly chart to determine what side of the
27 00:05:20,670 --> 00:05:26,640 marketplace you're gonna be looking for students not indiscriminately going in there, rolling the dice and saying, Well, I'm going to sell it short because
28 00:05:26,640 --> 00:05:33,480 it's at the middle of the range or I'm gonna buy it at the middle range, you have to look at some of the the criteria around that price action at the time.
29 00:05:35,490 --> 00:05:47,010 You know, weekly ranges just as a complete approach or overview, all of the same PD arrays for premium and discount are the same. And the same is said for the
30 00:05:47,010 --> 00:05:58,410 daily chart. So when it comes to charts now and look at the Japanese yen cash price. Okay, well, we're looking at the Daily of a cash price for Japanese yen.
31 00:05:59,880 --> 00:06:10,290 This is seen at bar chart.com. And historically, last year in 2016, we made a high in August and the market showed willingness to want to start breaking down
32 00:06:10,290 --> 00:06:21,720 market structure this low here this low became broken this moment here. So market structure on a long term basis on a daily chart had been broken bearishly
33 00:06:22,950 --> 00:06:37,980 and we see this Trump election rally up into bearish order block, and then it sells off. So we're gonna be looking at this move in here. Okay, and we're gonna
34 00:06:37,980 --> 00:06:50,130 go over to the Forex chart. Now just so you understand clearly, because a lot of you may be new, and maybe you're used to trading the futures market or following
35 00:06:50,130 --> 00:06:59,160 the Japanese yen cash price. But when we pair it with a currency like the dollar index, the dollar index is different currency and then the Japanese Yen is the
36 00:06:59,160 --> 00:07:07,860 second. So that means if we're bearish or expecting lower prices on Japanese yen cash prices, the dollar yen pair is actually going to be inverted it's going to
37 00:07:07,860 --> 00:07:17,250 go up because of Japanese yen cash prices dropping. That means dollar prices are rallying if the dollar is the first in the name of the pair DOLLAR YEN. That
38 00:07:17,250 --> 00:07:28,020 means when you're watching DOLLAR YEN price action, you're watching the advancement of dollar versus decline of the Japanese yen. Okay, here's a monthly
39 00:07:28,020 --> 00:07:38,610 chart of the dollar yen. Okay, and you can see how we've seen the market have a really nice rally up in here. And it's gonna be again diametrically opposed to
40 00:07:38,610 --> 00:07:49,200 what we expected or just saw rather, on the cash price on the Japanese yen. Now, as a reminder, for some of you, we talked about the Japanese yen in the
41 00:07:49,200 --> 00:07:58,650 beginning months of our mentorship and I gave you some study points and gave some examples about this move higher. And some of the levels that we saw at
42 00:07:58,650 --> 00:08:10,440 trade to the 118 for instance, was one that was mentioned. So if we look at what has happened and what's transpired we're gonna map out this, this monthly chart
43 00:08:11,430 --> 00:08:27,240 and we're gonna get some some levels on here we have a high back here. Okay, and I want you to take a look at these equal lows. Okay, the equal lows in here,
44 00:08:27,480 --> 00:08:36,540 we're going to be expecting what to be their sell stops. So while the market was dropping last year, we would be expecting it to trade down into these levels.
45 00:08:36,540 --> 00:08:50,100 Now what's this over here, these two down candles that is a bullish order block when you blend both of the bodies together because it's two consecutive down
46 00:08:50,100 --> 00:09:01,050 candles, okay, and then gives you your equilibrium price point in here. Okay, we'll take that off and round it to the full 99 level. So we have a range here
47 00:09:01,050 --> 00:09:10,620 we have a high end or premium and a low end or discount what makes us a discount level. The fact that we saw price move away from it here. Now this could be a
48 00:09:10,620 --> 00:09:20,460 discount level as well. We want to go back to where the move originated here. We saw a big move away here that left the gap open. So we saw the the dollar yen
49 00:09:20,520 --> 00:09:29,490 leave a gap open here where prices only delivered on the upside there was no down movement to counteract the up move. That was seen here. Okay, came down and
50 00:09:29,490 --> 00:09:40,380 closed in that little range in here. Okay, so, price comes down hits the four big figure 99 Okay, so we have a defined range up here. This is premium on the
51 00:09:40,380 --> 00:09:53,400 monthly level. This is discount on the month level. So on this level down here, we will look to see a move below. These wicks in here. The bodies of these
52 00:09:53,400 --> 00:10:05,400 candles. We saw it right in here. This candle comes in at November two 2016 who went below the bodies of the candles in here? That is going to be a rejection
53 00:10:05,400 --> 00:10:20,400 block it cleared out the bodies of the candle on a monthly chart rejected, sent it higher. Okay? We have a range up here. We also have this down candle, which
54 00:10:20,400 --> 00:10:29,040 is a breaker. Why is this a breaker because we have old high here old highs. Anyone that gets short they're gonna put a buy stop risk resting rate above that
55 00:10:29,460 --> 00:10:36,060 the market rallies above clears out those buy stops here and then trades down through it once is down candle is violated right.
56 00:10:37,380 --> 00:10:47,820 Here, he becomes a valid breaker. If he trades down below and comes back to here, we have it mid middle of the body, the candle extended out in time. So it
57 00:10:47,820 --> 00:10:54,660 gives you a level of watch. This is actually a weekly level we're going to see very clearly when we drop down into weekly range. But you also have notice we
58 00:10:54,660 --> 00:11:02,190 have a gap in here, which I'm not going to add all this on this chart to make it way too busy. But we have a gap in here price has only been delivered on the
59 00:11:02,190 --> 00:11:10,830 downside between this candles low and this candles high. It's been delivered down here as a gap. So that would be one reasonable objective to look for when
60 00:11:10,830 --> 00:11:21,330 price was rallying. But what makes the bygone here, we're in a discount on a monthly let's change it over to a weekly chart. Here's the same dollar yen just
61 00:11:21,330 --> 00:11:29,310 in a weekly format. Okay, you can see here we have an up candle right before the down move. Okay, that's a bearish order block. So we're mapping that opening out
62 00:11:30,030 --> 00:11:38,160 over the here. Okay. And the reason why I'm using the open on this candle, not the wick is because there's an absence of a gap reason why is because we have a
63 00:11:38,160 --> 00:11:47,730 wick here and the market traded down through here. So this is two times this little area has been traded to and it was blocked in with this candles high. So
64 00:11:47,730 --> 00:11:58,080 this whole little area in here wouldn't be viewed as a gap or fair value gap. It's it's been closed down because the very bearish order block itself had a
65 00:11:58,080 --> 00:12:07,920 movement lower initially. So it's been passed through twice their price comes up and closes it right to the opening. So we also have a, we have a gap in here
66 00:12:07,920 --> 00:12:14,820 fair value gap here, between this candles low and this candle is high, that would be an objective to reach for also. But I want you to look at the weekly
67 00:12:14,820 --> 00:12:24,960 chart, we're deep in a discount on the range. And price shows a willingness to want to rally and comes back down into the down candle right before the up move.
68 00:12:24,960 --> 00:12:34,590 This is a bullish order block. You could be a buyer here, but we're focusing on that November long. That's this move right here. It's trading right back into
69 00:12:34,620 --> 00:12:46,020 and recapitalizing an old weekly bullish order block that as soon as it's hit that right there perfectly, and rallied away. Now on a weekly timeframe, this
70 00:12:46,050 --> 00:12:56,070 bearish order block which is the last up candle right before the down move, this is what you could have on your charts, as well as how you map out the
71 00:12:56,070 --> 00:13:07,170 conditions. So that would be a reasonable objective once price comes down, hits it, this bar here sure to hit that. But then we had this setup here. So watch
72 00:13:07,170 --> 00:13:17,070 this later on, you don't really see this as an objective once it's already been hit. This wouldn't be no resistance whatsoever. So you can take that level, move
73 00:13:17,070 --> 00:13:18,030 it over to here
74 00:13:25,080 --> 00:13:33,720 there'll be a reasonable objective on the upside closing in that range. But now look at the bodies here and see that equal bodied candles above that we would
75 00:13:33,720 --> 00:13:47,130 expect to see a rejection block price reaches through that as well. Another rejection block candidate here equal body candles we can expect to see that as
76 00:13:47,130 --> 00:13:58,740 an upside objective as price continues to trade higher here and then we have that fair value gap up and here are prices long to deliver on the downside. That
77 00:13:58,740 --> 00:14:04,410 will be an objective overview you can see that I'm not going to move this line around and then finally all the way up here to the bearish order block which is
78 00:14:04,410 --> 00:14:15,990 the last stop calibrate for the down move. So we have a discount to premium using the monthly and weekly charts now let's go down into a daily timeframe
79 00:14:21,600 --> 00:14:36,720 after add one more little thing to this we also have this last down candle right before this bite occurred. So right in here, remap that out with a different
80 00:14:36,720 --> 00:14:50,760 color so that we we can see the heirarchy between the weekly and the daily. Let's use a different color that was darker. Maybe a little little too dark for
81 00:14:50,760 --> 00:14:58,830 some of your personal tastes but we're just going to deal with that one. We are going to go over to a daily chart. Okay, and you can see here, the darker area
82 00:14:58,830 --> 00:15:07,620 is a weekly bullish order block. This is the lower weekly order block and this is the higher weekly order block, price comes down and hits that and actually
83 00:15:07,620 --> 00:15:17,130 touches both, it gives you the return back the lower weekly order block that's bullish to trade two times into a higher order block on the weekly chart and the
84 00:15:17,130 --> 00:15:30,660 lower of the two bullish order blocks. And price rallies away and through. Right here on this November buy. Same thing we start seeing here on the daily we see
85 00:15:30,660 --> 00:15:45,300 an old high here, we see an old high here we have equal highs in here. We have relatively equal highs here as well, we have a fair value gap in here. This high
86 00:15:45,300 --> 00:15:56,790 in this low which is what that would have been on the weekly chart by the way. And then we have the last up candle right in here. That low comes in at 118 55.
87 00:15:57,510 --> 00:16:12,240 So 118 55. So you can see how price is reached up into premium level over here. Now important thing is if we don't see any retracement to come back into for
88 00:16:12,240 --> 00:16:24,750 daily bullish order block, or over we saw for instance, let's say like this, zoom in. We had this down candle right here. Okay, price rallies away from it.
89 00:16:25,200 --> 00:16:32,460 Every time you look in an uptrend, you want to focus on the down candles because that's where institutions are going to buy. Either they're buying at the time of
90 00:16:32,460 --> 00:16:41,640 the down candles creation, which is usually always the case. And then if it comes back to that same down candle at a later time, they will they will buy
91 00:16:41,670 --> 00:16:53,790 more at that time. We have three consecutive down candles in here, right in here. Okay, the order block really begins at this candles opening, not this last
92 00:16:53,790 --> 00:17:05,970 one, you can use that one, if you want to be ultra ultra tight on your stops. But you're really going to be using the opening on this candle because it's the
93 00:17:05,970 --> 00:17:20,850 highest open of the three consecutive candles. So that's this candle right here, open comes in at 113 28. And this candle it's open was 113 26. It was only two
94 00:17:20,850 --> 00:17:30,960 pips below it. And you can see look at the the movement off of that level 123 times you could have bought and caught that last piece. Now that's not a long
95 00:17:30,960 --> 00:17:41,730 term position trading mind you, but it is what you'd be focusing on to see more upside pressure on this move once you had already been in it. Every down candle
96 00:17:41,910 --> 00:17:50,430 here. Okay, price trades through here and it comes back down to a hit right there. In that moment right there adding the spread, you'd probably get another
97 00:17:50,430 --> 00:17:59,580 position on there. But more more likely, this is one as well. You have a down candle, the price trades through it, come back down into this candle, what is
98 00:17:59,580 --> 00:18:11,340 the high on that candle? High consider 111 39. The low on this candle comes in at 111 36. So that's definitely an opportunity for you to get in and get new
99 00:18:11,370 --> 00:18:12,180 Long's on.
100 00:18:14,460 --> 00:18:23,340 So having these levels for the monthly and the weekly on, it gives you context to what to reach for on a lower timeframe daily when you're executing long term
101 00:18:23,340 --> 00:18:33,270 trades. But more importantly, not that I could show it here. But if we would have lost, say for instance, this candle here, you know, as it traded down below
102 00:18:33,270 --> 00:18:43,920 it, we could look for another return to this order block here as the high end not down this deep but we could expect for it to trade back down here and give
103 00:18:43,920 --> 00:18:55,410 another buy. And what I mean by that any bullish order block or any supportive role from a pdra on a daily chart if it is bullish, but it fails to give you a
104 00:18:55,410 --> 00:19:03,450 buy signal or support price. The next level you dropped back to is a weekly PDA array. So you're gonna be looking for something bullish to support price on a
105 00:19:03,450 --> 00:19:15,480 weekly chart. If the weekly chart PD array has no support and it breaks, then you get back to the monthly support. So because you're trading off a long term
106 00:19:15,480 --> 00:19:25,170 perspective and higher timeframe charts, the retracements can go through what you see on a daily the daily isn't going to support a monthly retracement, it
107 00:19:25,170 --> 00:19:30,900 just isn't going to do it sometimes it's going to give way it's going to break through it's going to pull all the way back to what you would otherwise not see
108 00:19:30,900 --> 00:19:41,400 unless you were looking at a monthly chart. So by having the monthly PD arrays on your on your charts and looking for them also on the weekly chart and having
109 00:19:41,400 --> 00:19:49,980 those levels on both monthly and weekly on your daily now it's not going to be on your executable timeframe chart. Okay, it's not gonna be there. But you
110 00:19:49,980 --> 00:19:59,370 should always have in your platform to asset that you're on the market you're trading. You should have these monthly weekly levels on regardless even if
111 00:19:59,370 --> 00:20:08,130 you're a day trader because it's going to surprise you how many times it has great impact or significant impact. Even in day trading or short term trading,
112 00:20:08,610 --> 00:20:16,050 swing trading, you're going to definitely need it. But position trading is absolutely crucial, you definitely need it here, because it's going to frame
113 00:20:16,080 --> 00:20:26,010 what trades you're taking. And it's going to provide you support support structure in the form of supportive resistance or natural support for price to
114 00:20:26,010 --> 00:20:39,810 find new buying and, or new resistance to find new selling it. The takeaway from this is, if you're following the market on a daily chart, just because there's a
115 00:20:39,810 --> 00:20:50,370 bullish order block, or a void that gets closed in or fills in a gap, and that supposedly is bullish, doesn't mean that it's going to keep price up from that
116 00:20:50,370 --> 00:20:59,130 point, price could come back on a daily chart and retrace rather deeply. See, this is a one sided market delivery here. The markets been priced in on one
117 00:20:59,130 --> 00:21:08,850 side, they completely keep running at higher, higher higher up to a logical level, which was that weekly bearish order block, the market moved from a
118 00:21:08,850 --> 00:21:21,600 discount all the way up to a long term premium. Notice on the daily chart, understanding or block theory, you could see that as a viable upside objective.
119 00:21:22,410 --> 00:21:34,650 But for those that simply look at the higher timeframe weekly for levels, the key off of this is a logical area, because it's very clear and distinct. It's
120 00:21:34,680 --> 00:21:44,280 the last candle right before the downstroke move. So that's going to be your bearish order block the opening on that candle comes in at 118 61. The high it
121 00:21:44,280 --> 00:21:55,110 comes in on this candle at 118 66. That's precision. And that's really, really tight for a weekly chart. It's hard to deny precision. In that case they are
122 00:21:55,110 --> 00:22:06,450 because this is simply irrefutable. So when we look at price, every one of these new ranges in here, they're all tradable. So even if you don't have the
123 00:22:06,450 --> 00:22:20,580 wherewithal to hold all the way through to get to the deep premium market, you can get a premium here. When this range, this is a premium, from this high down
124 00:22:20,580 --> 00:22:32,700 to the low. These highs in here down that low is a premium. But as you go through and deeper, this is where the last, the last opportunity for the highest
125 00:22:32,700 --> 00:22:43,650 premium and unloading along from that line down here in these discount area. So moving from higher timeframe charts, to daily, monthly and weekly levels, moving
126 00:22:43,650 --> 00:22:52,920 them on to your daily chart. That's obvious. It's just transposing hard timeframes, Support Resistance ideas, okay, but we're using the PD arrays in
127 00:22:52,920 --> 00:23:04,590 terms of understanding institutional order flow. But the main takeaway is if we lose a level that's arrived at only on a daily chart, you could drop back into
128 00:23:04,770 --> 00:23:14,040 the levels that seen on a weekly chart. And I'm gonna show you what that looks like. Now. If you look at just a horizontal line,
129 00:23:15,300 --> 00:23:34,470 right, we have this old high back here equal highs. When you use that, let's see what that looks like on a daily. We have another one here, right there. And we
130 00:23:34,470 --> 00:23:49,620 have another one right there. In all this consolidation is download here, the candle making a swing low. And here we're going to look at that as some early
131 00:23:49,620 --> 00:23:57,030 scaling in long, they were buying here, they're buying in here, they're buying in here, they're buying in here, they're buying in here, they're buying in here,
132 00:23:57,390 --> 00:24:05,850 he bought in here and boom, you see that big, long term hedging, that's what you're seeing in here every time there's a down candle and then as a subsequent
133 00:24:05,880 --> 00:24:16,170 up move, you know, that they bought in that's the footprint, they can move to market by doing that. And every time they do that, it allows new scaling in for
134 00:24:16,170 --> 00:24:25,560 them. And their positions are large and you can't get them all on one time. So if we go out to the daily again, you can see there's that order block, right
135 00:24:25,560 --> 00:24:35,640 here. And here's that order block here, that level trading right down here. Now it's not gonna be right to the point okay, or right to the PIP if you will, but
136 00:24:35,640 --> 00:24:43,710 you can see how these levels draw your attention to where a future order block on a daily timeframe may occur. So it gives you an opportunity to kind of like
137 00:24:43,710 --> 00:24:53,850 to anticipate when the next down candle should occur in terms of price not time. But around the time of this price hitting this. You want to be focusing on when
138 00:24:53,850 --> 00:25:00,600 these arrow down close on a daily chart, because that's going to be new buying opportunities, especially if you have a higher timeframe premium level that's
139 00:25:00,630 --> 00:25:11,580 still unmet. So hopefully this is giving you some insights about how you can use the PDA arrays in a context for moving to monthly to a daily if I want to be
140 00:25:11,580 --> 00:25:19,740 specific and make sure that you've drawn something of value out of it is not because we can take higher timeframe levels and transpose them onto a daily
141 00:25:19,740 --> 00:25:33,330 chart. That's not the point. It goes beyond that. If we lose a level, if we lose a order block, for instance, like we see here. Okay, we saw price trade down, it
142 00:25:33,330 --> 00:25:41,970 moved up. So this could have been a bullish order block. Price came down here, why did it go up? Why to come on down here, it went through this down candle
143 00:25:41,970 --> 00:25:51,540 that go right back into, which is a higher weekly order block. It wasn't until we saw the the election of Donald Trump. That's what this big whipsaw move was
144 00:25:51,540 --> 00:25:58,050 when he took out the stops here. And it had to trade all the way back down to the lower weekly bullish order block, which is what this is now showing on the
145 00:25:58,050 --> 00:26:08,970 daily chart. But this level is all on that lowest weekly bullish order block. So again, you can see how this low here, it was violated, but it went down to the
146 00:26:08,970 --> 00:26:20,160 most logical area on the weekly chart. So the daily chart was pushed aside in the values that's attributed to using daily timeframe, that wasn't sufficient
147 00:26:20,160 --> 00:26:29,190 enough. The banks went back to recapitalizing a level on the weekly chart. And that's what this whole move is here. Usually, when you see these big surges
148 00:26:29,190 --> 00:26:36,090 higher or lower in price, and you're watching it on a daily chart, or you see it on the lower timeframe, you just can't understand what's going on, quickly go
149 00:26:36,090 --> 00:26:43,320 out to a weekly chart, and you'll see what they've done or what they're reaching for. And then many times what everybody else gets afraid of, to go back into if
150 00:26:43,320 --> 00:26:50,880 they got knocked down, take a loss. Like for instance, you say you bought down here, maybe you bought this low here as a old well, and you bought it as sell
151 00:26:50,880 --> 00:26:59,460 stops being ran out. Okay, great. Bought it started, see some money and all of a sudden, this boom, you get knocked down. If you go and look at the weekly chart,
152 00:26:59,670 --> 00:27:06,960 you can see that all that was returned back to that weekly order block. And if it was starting to trade back up to this level here, it could be a buyer again,
153 00:27:07,800 --> 00:27:15,930 because you know that they went down to the weekly order block, and there's nothing to worry about they all they do is recapitalize a longer term pdra. And
154 00:27:15,930 --> 00:27:24,660 it's all it was this is a return back to a bullish or block on a weekly timeframe. So if you lose a level on a daily, don't be concerned, this go out to
155 00:27:24,660 --> 00:27:31,590 our weekly chart, and you'll see what they're reaching for. If you can't find it on a weekly chart, which is probably unlikely. But if you can go out to a
156 00:27:31,590 --> 00:27:39,690 monthly chart, and you'll probably see much clearer where they're trying to push price. The algorithm is going to work predominantly on a daily timeframe. But if
157 00:27:39,690 --> 00:27:48,180 the levels are already worked enough, and already absorbed all of the potential liquidity because it's already been trading to them, it will go out to that
158 00:27:48,210 --> 00:27:57,450 larger open float. And that usually will dip you into the weekly ranges. So when you see the market move into the weekly objectives or the levels that we
159 00:27:57,450 --> 00:28:06,780 identify with these PD arrays, then you'll know that you're probably going to have a really significant price move because of the weekly level. Those large
160 00:28:06,780 --> 00:28:14,040 funds, banks and institutions. They're all going to dogpile on those levels because they're significant in their long term, and they're poised to make moves
161 00:28:14,130 --> 00:28:16,530 like this. So until next time,
162 00:28:16,530 --> 00:28:18,210 I wish you good luck and good trading