79-ICT Mentorship Core Content - Month 8 - High Probability Daytrade Setups

Last modified by Drunk Monkey on 2022-10-10 09:33
1 00:00:17,580 --> 00:00:24,390 ICT: Welcome back folks, this is lesson seven of the ICT day trading model, high probability day trade setups
2 00:00:30,720 --> 00:00:42,150 okay what makes day trades high probability? The highest importance is placed on the higher timeframe daily and or for our direction. When daily and or for our
3 00:00:42,150 --> 00:00:56,040 direction is bullish. Use previous day's low to high for retracement entries. Use previous day's New York session low to high for retracement entries use
4 00:00:56,040 --> 00:01:12,150 previous day's low for sell stop rate to accumulate Long's focusing on the anticipated move from higher timeframe discount to premium PD arise when daily
5 00:01:12,150 --> 00:01:22,140 and or for our direction is bearish. Use previous day's high to low for retracement entries. Use previous day's New York session high to low for
6 00:01:22,140 --> 00:01:34,350 retracement entries. Use previous day's high for buy stop rate accumulate shorts. Focusing on the anticipated move from the higher timeframe premium to
7 00:01:34,350 --> 00:01:46,470 discount PD arrays. When we're looking for high probability day trades, what we're really focusing on is where's the next most likely direction higher or
8 00:01:46,470 --> 00:01:58,080 lower, and offer what level in trading up to what level for profit. There are several swings that you need to be aware of, obviously, the previous day's high
9 00:01:58,080 --> 00:02:09,870 and low. The previous day's New York session range from high to low. That means the sessions highest high and the lowest load during the New York trading hours.
10 00:02:12,840 --> 00:02:24,570 There's also one that's not listed here. But I want you to think about what's the highest high and the lowest low during the London session. That means the
11 00:02:24,570 --> 00:02:40,410 London high in the London low for the London kills them. Then also looking at the London high or low to the low or high contrary to it. In other words, the
12 00:02:40,410 --> 00:02:52,710 total range from the London session, extreme weather be a higher low to the lower high prior to New York session beginning. So between New York opening
13 00:02:53,760 --> 00:03:02,550 what's the extreme on the range for that day in London? Is it high or low relative to the beginning of New York session. That range also is important.
14 00:03:07,710 --> 00:03:15,300 When we look through price, and we find opportunities to be the day trader, you're looking for the similar things we've went over on the higher timeframe
15 00:03:15,300 --> 00:03:24,450 charts, just on a lower timeframe. Nothing that you see in the lower timeframe is going to be any different from what we've outlined from what we've seen in
16 00:03:24,450 --> 00:03:40,800 the daily or weekly or monthly. Every example that's been outlined here, for framing a high probability setup. This is not the panacea list. Okay, this is
17 00:03:40,830 --> 00:03:50,850 this is not going to be every possible scenario. These are the criterias that I look for each trading day when the conditions are right. So in other words, I've
18 00:03:50,850 --> 00:04:02,610 done my due diligence if you will find a higher timeframe. And I arrived at what I believe is the most probable direction on a higher timeframe chart. And then
19 00:04:02,610 --> 00:04:13,170 what I look for is if I'm bullish, I want to look for the range from London's extreme high or low to that which the opposite extreme high or low would be
20 00:04:13,590 --> 00:04:25,290 prior to New York. So whatever the range is from London to right before New York opening. That's important. I want to measure that range. If I'm bearish. That
21 00:04:25,290 --> 00:04:36,630 range is going to help me find the next trading day retracement up during that projection I stayed that move up is going to be a retracement into that London
22 00:04:36,690 --> 00:04:49,140 session range from London going into the beginning of New York. I'll also measure the New York session range high and low. That also many times will give
23 00:04:49,140 --> 00:05:03,000 me the setup that's framed for the next day's higher low. It'll be a retracement inside that range. Look for the previous day's high and flow. To look for stock
24 00:05:03,000 --> 00:05:15,000 rates. Generally, you're going to see those scenarios occur when there is an end to a most recent move. In other words, if we've seen several days go up, it's
25 00:05:15,000 --> 00:05:26,790 going to go into a premium array. And it's probably going to trade above an old high. I'll look for buy stock run there and then go short the next day. Vice
26 00:05:26,790 --> 00:05:37,200 versa, if the market has been trading lower, and it trades down to a discount pdra I'll look for the market to trade down below a previous day's low. I'll buy
27 00:05:37,200 --> 00:05:49,980 the sell stops. I'll use that as a day trade. Daily and for our will we use those independently or in concert with one another to build our bearish or
28 00:05:49,980 --> 00:06:01,110 bullish ideas. What we're looking for is price analysis of seeing is price supporting bullishness or is it bouncing off of bullish or blocks? Is it
29 00:06:01,110 --> 00:06:10,650 rejecting old lows and showing a willingness to go higher? Is it filling in gaps below us and then rallying? Those ideas? are the first things that we look for
30 00:06:10,680 --> 00:06:22,380 then are we seeing short term premium arrays violating? If that's occurring, then it's bullish institutional workflows, it goes in the opposite said and
31 00:06:22,380 --> 00:06:36,780 reverse when you're bearish. When do I look to buy for day trades? Ideally in seasonal periods of the year, but it's not required, but ideally has to make the
32 00:06:36,780 --> 00:06:47,160 list in here because this is the high probability series when the current quarter or new quarter is expected to be bullish. After the daily chart has
33 00:06:47,160 --> 00:06:59,490 reacted positively, on a discount PDA array, it could be a bullish order block any of the discount arrays, it's known to you by the pdra matrix. When price has
34 00:06:59,520 --> 00:07:10,830 a clear unobscured path to an opposing premium array. In other words, it's very easily seen what it would reach for above you presently. If you can't see it
35 00:07:11,010 --> 00:07:25,230 very easily. It's probably not gonna be high probably set up. The ideal days of the week, buying our Monday, Tuesday and Wednesday. You're gonna refer to the
36 00:07:25,230 --> 00:07:35,790 central bank dealers range and determine if it's less than 40 pips ideally. And we're going to demand that the Asian range is in a 20 pip range or less, ahead
37 00:07:35,790 --> 00:07:49,980 of Frankfurt opening. Buying between 2am and 4am New York time we're going to be seeking the low of the day. We're going to be buying one to two standard
38 00:07:49,980 --> 00:08:01,740 deviations the central bank dealers range and or Asian range coupled with a discount PD array. Timeframe we're going to execute on is a 15 and or a five
39 00:08:01,740 --> 00:08:09,390 minute chart. Now where do I look to buy for day trades?
40 00:08:10,830 --> 00:08:22,110 I like buying under the Asian range. Plus five pips for the spread. I like looking for fair value gaps below a short term low from the previous day's New
41 00:08:22,110 --> 00:08:30,810 York session. In other words, after New York opens up, I'm looking for short term lows that formed going into the close at the start of a new days here GMT,
42 00:08:31,050 --> 00:08:41,430 I look back in the previous day's range. In the New York session, generally you're gonna find a low and if we can drop down into that in London, I'll look
43 00:08:41,430 --> 00:08:49,950 for those sell stocks to be triggered. And then I'll go long from that, but it has to overlap with other things, central bank dealers range age and range those
44 00:08:49,950 --> 00:09:03,720 ideas also has to be in time of day London Open kill zone, bullish order block that resides below a short term low either in the previous day or intraday
45 00:09:03,810 --> 00:09:12,480 today. In other words, it could be a short term intraday low that formed and then traded lower than that into a bullish order block. That's a very, very
46 00:09:12,480 --> 00:09:25,200 strong condition when the overall picture is bullish. I will be buying in that scenario during money. If I'm very bullish, I'll trade long at one standard
47 00:09:25,200 --> 00:09:41,400 deviation below the central bank dealers range or Asian range and any discount PD array overlap while in the month and kill zone inside the protraction, lower
48 00:09:42,060 --> 00:09:54,060 post 12am to 2am with ELLIPTA No, it's it's trading down. I'm going to be looking to go long during that Judas swing and again there has to be an overlap
49 00:09:54,060 --> 00:10:09,720 with a discount PD array. Filling a liquidity void that completes under a short term low. Alright, so what we saw on the second setup, if you have a gap, it
50 00:10:09,720 --> 00:10:19,230 could be a larger gap which would be basically liquidity void that would be completed or filled in below a short term loan. So what we're doing so we're
51 00:10:19,230 --> 00:10:34,590 really trying to buy below lows looking to accumulate, Sell Stop liquidity that we can buy from if after rally, post 12am New York time, buy the first
52 00:10:34,590 --> 00:10:45,180 retracement into a 15 and or five minute bullish order block. similar words. What I'm saying here is if we have rallied right after midnight, we didn't see
53 00:10:45,180 --> 00:10:54,480 any drop down or protection a state that would put us into a discount. If it's been rallying straight up. If again to the two o'clock to four o'clock time
54 00:10:54,480 --> 00:11:05,970 period day, long and kill zone sweet spot, if you will. I'll buy the first retracement down until a bullish order block on a five or 15 minute basis. One
55 00:11:05,970 --> 00:11:16,650 to two standard deviations in the Asian range. Coupled with discount pdra. In other words, I'm looking forward to for one standard deviation drops of the
56 00:11:16,650 --> 00:11:31,800 Asian range total range down. And it's going to be overlapping with a discount pdra. So I'm blending those two. If a short term low was taken out twice, but
57 00:11:31,800 --> 00:11:40,530 there has been no upside projection a state in which we haven't seen the market go up first, and then go down twice. The second time in that condition is
58 00:11:40,530 --> 00:11:48,900 probably gonna keep on going lower. But if it has not seen any protection, any move on the upside or Judas swing up, we go down for a low and then one more
59 00:11:48,900 --> 00:12:00,510 time blow out that low. I'll buy that as a turtle soup. Now, what are the outlined here are my favorite setups. These are the conditions. And you have to
60 00:12:00,540 --> 00:12:12,450 find them in examples. I can show you examples. But nonetheless, that's not going to help you. These are the frameworks I look for. In other words, if I see
61 00:12:12,450 --> 00:12:22,380 these types of scenarios unfold, generally these other ones that typically get into my thought process, I'm looking for certain things to line up certain some
62 00:12:22,380 --> 00:12:33,600 type of play. Or for instance, if we were sports team, okay, and the coach has a playbook. And he likes certain plays that he makes his players go through. Well,
63 00:12:33,630 --> 00:12:47,340 these are the scenarios I love when it comes to trading the London Open. These are my like toolbox, or consistency these types of trades form several times a
64 00:12:47,340 --> 00:12:57,630 week. If you look for a few of them and understand what they what they are when the markets bullish, we've shown willingness of respect to daily discount pdra
65 00:12:58,830 --> 00:13:09,000 One of these criteria are going to meet every london session out there will have something in this list that forms now are you know what you're gonna think?
66 00:13:10,289 --> 00:13:18,389 Wow, Michael, this is a lot. Which one do I pick? Well, if you study them, they all don't have the same characteristics. It depends on what the markets
67 00:13:18,389 --> 00:13:30,389 providing you. So when you're watching 12am, New York time, we're watching to see which scenario unfolds whenever we're looking for that initial drop down
68 00:13:30,389 --> 00:13:40,589 ideally, but if it doesn't happen, we have one condition here where it says if it rallies straight from 12pm When we get to 2am We're gonna buy the first
69 00:13:40,589 --> 00:13:52,949 retracement into a 15 or five minute order block, boom, it's over. So you got every scenario that we'll be looking for. For London Open long placing stop
70 00:13:52,949 --> 00:14:06,149 losses and and buy for day trades. What ever you do, and whatever you use for your initial stop loss. Do not rush moving it already know what you're trying to
71 00:14:06,149 --> 00:14:13,679 do. You want to get to break even plus by plus 20. Forget that in day trading in London because you can get a double pass, they can come back and knock you out
72 00:14:13,679 --> 00:14:24,059 and you'll miss the entire move. Leave your stop at initial until you get to at least 40 to 50% of the daily range. If you can get that in London, Dan bring it
73 00:14:24,059 --> 00:14:35,609 to breakeven, but anything prior to that, don't do it. If you're trading and central bank dealers range overlap with a PD array. The stop has to be 30 pips
74 00:14:35,639 --> 00:14:46,259 under your entry. If you're trading a run under the Asian range, in other words, what we're doing is watching price trade down below the Asian range it might be
75 00:14:46,259 --> 00:14:55,919 one standard deviation might go half of the one full standard deviation, anything below Asian range low. Your stop needs to be 40 pips below your entry
76 00:14:59,369 --> 00:15:12,299 if you're trading Any Sell Stop rate 30 pips under the low of the entry you're using. Alright, you're going to use the low as your primary entry point that
77 00:15:12,299 --> 00:15:25,829 low, you're going to try to enter below that your stop has to be 30 pips below that low if you're trading the first retracement into a bullish order block, you
78 00:15:25,829 --> 00:15:38,309 have to be 10 pips under the lowest low the day. If you're trading the second return for sell stocks, in other words, we've had a move lower, and then it
79 00:15:38,339 --> 00:15:48,539 moves lower one more time takes up the cell stops, your stuff has to be below that 30 pips. Again, that one is if you don't see any move right away after
80 00:15:48,539 --> 00:15:57,149 midnight, if it's only been a straight down move, then it goes down one more time goes up to the low that's formed initially. You're stop has to be 30 pips
81 00:15:57,149 --> 00:16:08,159 below that if you're buying as a turtle suit. If you're trading any other setup not described above, what you'll be using is 50% of the average daily range of
82 00:16:08,159 --> 00:16:17,879 the last five days subtracted from the Asian range low. Assume you have 100 Pip average daily range for the last five days, what you're going to do is take 50
83 00:16:17,879 --> 00:16:33,539 pips, minus the Asian range low, whatever that price is, that's where your stop loss has to be. Taking profits in by day trades. Hey, you're always going to try
84 00:16:33,539 --> 00:16:45,149 to take something off in gain at 20 to 30 pips, always do this in London. You're gonna look to scale something off every two standard deviations of the Asian
85 00:16:45,149 --> 00:16:53,369 range or central bank dealers range. Yes, I said, it requires you to see two standard deviations before you take the next level of profit. That means after
86 00:16:53,369 --> 00:17:01,259 your first 20 to 30 pips, you're going to wait for two standard deviations of the Asian range or central bank to drain, then you take something off again.
87 00:17:04,079 --> 00:17:14,279 Take something off at the previous day's High Plus five to 15 pips. Because you could end up in a turtle soup scenario, and it could retrace on you take
88 00:17:14,279 --> 00:17:24,989 something off at 50% of the price range, you're trading in on a 60 minute basis. In other words, inside the range, where are we at? If we rally up inside that
89 00:17:24,989 --> 00:17:37,529 range, remember, equilibrium could be an impactful level. So you want to take something off there as well. Because it could reverse on you. Take or have had
90 00:17:37,529 --> 00:17:49,019 taken 60 to 80% off. At five day average daily range projections always do this somewhere. It's basically if you've not taken off anything except for the first
91 00:17:49,019 --> 00:17:55,289 2030 pips, you didn't do anything for two standard deviations, the Asian range or Central Bank, the latrines because maybe it didn't do that. Maybe it hasn't
92 00:17:55,289 --> 00:18:06,539 fulfilled that. Maybe you haven't done anything with a previous day's high hasn't traded there yet. And maybe you haven't seen a 50% range in the last 60
93 00:18:06,539 --> 00:18:08,579 minutes. Price Action,
94 00:18:10,140 --> 00:18:19,800 then you have to consider average daily range the last five days, you need to be taking at least 60 to 80% off. At that point. Always do this. And then you can
95 00:18:19,800 --> 00:18:28,350 leave a little portion on to see if you're gonna get more juice out of that lemon and hold for a later portion of the day. If trading higher than the
96 00:18:28,350 --> 00:18:37,440 previous trading week, take something off there because you get a turtle soup scenario in that environment. If trading higher than a previous month's high,
97 00:18:37,860 --> 00:18:53,880 take something off there. In time de scale out something that are just above the five o'clock hour New York time. And time of day, you want to scale out of short
98 00:18:53,880 --> 00:19:06,720 term high prior to the 7am New York open knowing outlines again, these are time Date Specific. You want to take some profit when this bullish and you've been
99 00:19:06,720 --> 00:19:16,260 rallying whatever that short term high that's forming prior to 7am. That means there's gonna be a short term little rally going into seven o'clock. Whatever
100 00:19:16,260 --> 00:19:27,450 that high is, as it's rallying, you want to take something off there because New York could be a reversal in time of day, look to scale out between 10am and 11am
101 00:19:27,450 --> 00:19:37,590 New York time during the rally. So in other words, whenever price is moving up at 10am that leg and price higher. You want to be exiting and taking something
102 00:19:37,590 --> 00:19:52,230 out as it's rallying up. Ideally, any of the above scenarios coupled with a PD array and premium basis. Now obviously, you're probably saying Well Mike like I
103 00:19:52,230 --> 00:20:01,800 only did two minis I can only afford to do that how can I take this many portions off? You can't. But if you look at it against idea. Not all these
104 00:20:01,800 --> 00:20:10,890 conditions can be present. But you want to look for the ones that may potentially be there for you. You can go through this list and look at your
105 00:20:10,890 --> 00:20:20,460 trade as you get ready to take it and see right away if any of these are going to be potential candidates, but you have to take profits on these rules. That's
106 00:20:20,460 --> 00:20:33,000 how I do it. This is the reason why I do it. And when you see me taking positions and scaling them off, these this is the criteria I'm using. When I
107 00:20:33,000 --> 00:20:45,450 look to short day trades, ideally and seasonal bearish periods of the year, but it's not required when the current quarter or new quarter is expected bearish
108 00:20:48,270 --> 00:21:03,210 after the daily chart has reacted positively on a premium PD array when price has a clear unobstructed path to an opposing discount array. The ideal days of
109 00:21:03,210 --> 00:21:16,110 the week, shorting are Monday, Tuesday and Wednesday. Refer to the central bank dealers range and determine if it's less than 40 pips ideally demand the Asian
110 00:21:16,110 --> 00:21:26,130 range to be in a 20 foot range or less ahead of the Frankfurt opening. That's basically one o'clock in the morning New York time it's early London shorting
111 00:21:26,130 --> 00:21:37,080 between 2am and 4am, New York time seeking the high of the day generally I'm looking to sell one to two standard deviations of the central bank dealers range
112 00:21:37,080 --> 00:21:56,100 and or Asian range coupled with a premium PD array. timeframe to execute on is either five or 15 minute timeframe when I look to short day trades, I like to
113 00:21:56,100 --> 00:22:10,740 run above the Asian range, at least five pips above it. I want to be selling short there a fair value gap a bullish short term high from the previous day's
114 00:22:10,740 --> 00:22:23,430 New York session there's going to be bias stops above that I look to sell that as it rallies above that in New York session. Bearish order block above a short
115 00:22:23,430 --> 00:22:33,360 term high either previous day or today. In other words, if there's a bullish or block that resides in price action, and there's a short term high just below
116 00:22:33,360 --> 00:22:42,000 that, we haven't read it yet. Since we trade above that short term high and ended up bearish order block. If it does that during London session, I'll go
117 00:22:42,000 --> 00:22:51,930 short their if I'm very bearish one standard deviation with any premium PD array in the London Open kill zone, I can trade on that.
118 00:22:54,750 --> 00:23:08,850 Inside the protraction, higher post 12am Midnight New York time to 2am New York time with a PD rate or premium PD rating specifically. That's enough for me. So
119 00:23:08,880 --> 00:23:18,360 basically, I'm looking at a Judas swing that occurs right from midnight going up into 2am. It can happen prior to 2am. But generally you want to see that move
120 00:23:18,360 --> 00:23:34,710 right after 12am up eight trades into a premium pdra That's enough to get short. Filling in liquidity void that completes above a short term high. If after the
121 00:23:34,710 --> 00:23:48,420 drop post 12am I'm going to sell the first retracement into a 15 or five minute bearish order block. One to two standard deviations in the Asian range coupled
122 00:23:48,420 --> 00:24:05,070 with a premium pdra I can sell that and if short term high is taken out twice, with no initial downside I'll sell that as a turtle soup placing stop losses in
123 00:24:05,070 --> 00:24:15,750 short day trades. Whenever you use the initial stop loss obviously don't be in a rush to move that we've said that in the buy sides the same thing here are
124 00:24:15,750 --> 00:24:28,170 shorting if you're trading the central bank dealers range overlap with a PDA stop must be 30 pips above your entry. If you're trading a run above the Asian
125 00:24:28,170 --> 00:24:44,160 range high, the stop has to be 40 pips if you're trading any buy stop rate. Your stop has to be 30 pips above the high or your entry if you're trading the first
126 00:24:44,160 --> 00:24:55,650 retracement into a bearish order block, your stop has to be 10 pips above the highest high of the day. If you're trading the second return for buy stops are
127 00:24:55,650 --> 00:25:06,600 basically a turtle soup and we have not seen any immediate rally lower in price. After midnight, your stock has to be 30 pips above the highest high of the day.
128 00:25:09,510 --> 00:25:21,510 If you're trading any other setup not described above, use 50% of the average daily range of the last five days added to the Asian range high. Taking profits
129 00:25:21,510 --> 00:25:34,590 and short day trades, always try to take something off and gain at 20 to 30 pips always look to scale something off every two standard deviations in the Asian
130 00:25:34,590 --> 00:25:48,750 range or central bank dealers range. Take something off at a previous day's low minus five to 15 pips take something off at the 50% range or equilibrium of the
131 00:25:48,750 --> 00:26:03,180 price range you are trading inside of on the 60 minute chart. Take or have taken 60 80% off at the average daily range of the last five days do this always. If
132 00:26:03,180 --> 00:26:11,940 trading lower than the previous trading week's low, take something off there, you could have a reversal or rejection. If trading lower than the previous
133 00:26:11,940 --> 00:26:23,340 month's low, again, this could be a potential reversal. So you wanna take something off there in time of day, scale out something at or prior to 5am New
134 00:26:23,340 --> 00:26:33,960 York time in time of day scale out a short term low prior to 70. In New York open in other words, New York open could be reversal or generally a retracement
135 00:26:33,960 --> 00:26:48,750 into the 820 Cme opening. So you want to be seeing profit taking some measure portion come off as profit as it's accelerating lower ahead of 7am. In time of
136 00:26:48,750 --> 00:27:01,740 day scale out at 10am to 11am, New York time while price is still declining. Ideally, any of the above scenarios coupled with a premium pdra Now obviously
137 00:27:01,740 --> 00:27:16,620 I've given you several instances and circumstances and and outlines for the probable plan of action. Whether you're entering whether you're taking profit
138 00:27:16,620 --> 00:27:26,760 where you're using your stop at these are my general rules of operation, this is what I generally look for, these are the things I do, how I managed to position
139 00:27:26,760 --> 00:27:36,060 what I'm doing initially with the with the stops, where I'm looking to take profits at the ones that I did not incorporate here were obviously been taught
140 00:27:36,120 --> 00:27:50,430 in other places, so I didn't have to rehash or put in filler. Any projection on the FIB 127 168. And the 100% symmetrical price swing, or 100% Move, measured
141 00:27:50,430 --> 00:27:56,160 move those ideas coupled with any of these as well really amplifies for profit taking
142 00:27:59,310 --> 00:28:10,470 this lesson, obviously, I don't want to see it on YouTube. And if it ends up on YouTube, I have it pulled down. But the the lesson itself, I could pretty much
143 00:28:10,470 --> 00:28:21,960 show this on baby pips. And nobody will understand what it's talking about. So that's the reason why I went through a great deal of information in January, and
144 00:28:21,960 --> 00:28:28,890 all the way up to now because you know all the elements that's been described here, or you shouldn't know them, because you studied all the previous months,
145 00:28:29,910 --> 00:28:39,990 the criteria and the rules of engagement that's being blamed and outlined for both sides of buying and selling. Not every single one of these are going to be
146 00:28:41,070 --> 00:28:48,180 usable, you can't use every single one of them, they're not going to be applicable to every trade that you're in. So don't think because there's a
147 00:28:48,180 --> 00:28:57,180 laundry list of things and scenarios here. Not all of them are going to be able to be applied to your trade. But knowing what they are in advance an outline
148 00:28:57,180 --> 00:29:07,170 form here, you can already see how you can look to see if it's going to be a probable scenario for your particular trade idea. You may not be trading
149 00:29:07,170 --> 00:29:17,850 anywhere near a weekly low. You may not be trading anywhere near monthly low. So they may not even be any consideration at all. You probably already took
150 00:29:17,850 --> 00:29:27,690 something off at 20 to 30 pips and it hasn't much moved beyond that going into five A in New York time. So you wouldn't consider that either. The scaling out
151 00:29:27,780 --> 00:29:41,070 ahead of 7am. Maybe you have taken 20 or 30 pips already in London, and then it went you the whole full average daily range all day in London. You're not going
152 00:29:41,070 --> 00:29:52,830 to take something ahead of 7am on that, because you've already taken something based on average daily range being fulfilled. Looking at the scenarios that
153 00:29:52,830 --> 00:30:02,130 would potentially pan out here, and also for the entries. Again, not all of them will be applicable. So Don't freak out, because it seems like a whole lot. And
154 00:30:02,130 --> 00:30:09,630 yes, you're being challenged, I promised you in the latter lessons, you're going to have to think you have to think for yourself, you have to have rules at the
155 00:30:09,630 --> 00:30:18,930 good look for these types of things yourself in the charts. They all won't be there. So you're not having to look through all these things to, to whittle down
156 00:30:18,930 --> 00:30:29,370 to what you should be doing for your trade. All of the criteria that's been listed here for the setups, the buys and sells, where your stop loss is there
157 00:30:29,370 --> 00:30:40,500 are specific rules for all of that. I have specific outlined scenarios in this teaching that if you stick to them, you'll do everything that I do on a week by
158 00:30:40,500 --> 00:30:52,800 week basis when I'm trading. So yes, it requires you to think yes, it's a little bit of work, but is it worth it? Absolutely. And until next time, I wish you
159 00:30:52,800 --> 00:30:53,610 good luck and good trading