Skip to Content

88-ICT Mentorship Core Content - Month 9 - ICT Day Trade Routine

Last modified by Drunk Monkey on 2022-10-17 10:11
1 00:00:15,269 --> 00:00:25,229 ICT: Okay folks, welcome back to Lesson Eight, the May 2017, ICT mentorship, ICT amplified day trading and scalping. This lesson is the ICT daily day trade
2 00:00:25,259 --> 00:00:35,339 routine. Okay, folks, when it comes to day trading or even scalping, the first thing I'd like to do is consider the economic calendar for the next trading day
3 00:00:35,339 --> 00:00:45,299 or the day that's going to be traded. Now, this can be viewed obviously, at the end of the previous trading session. But generally, you want to be knowing what
4 00:00:45,659 --> 00:00:57,059 economic driver is going to be released during the particular day of study or day trading. So we have here the May 30 2017. This is the economic calendar for
5 00:00:57,479 --> 00:01:09,809 Tuesday, May 30. So you can see what we look for is high impact and medium impact news events for the day. In next, what I want to do is I want to take a
6 00:01:09,809 --> 00:01:22,829 look at the times of those releases respective to the kill zones of London Open, and New York open, because those are two dominant, high volume times of the day.
7 00:01:22,829 --> 00:01:31,529 So we want to be looking for those news events that may unfold during those respective times. So during London, we're looking for the higher load a form of
8 00:01:31,529 --> 00:01:39,719 the day, it's usually under the guise of manipulation. So with that manipulation, we know that generally it's going to be seen with an economic news
9 00:01:39,719 --> 00:01:51,329 release or some kind of volatility injection based on what we see on higher medium impact basis. You want to look for pairs in the London session for the
10 00:01:51,329 --> 00:02:04,739 New York session, to have a medium or high impact news event. In this case, we have a medium impact news event. For the Euro dollar at 3am. Tuesday, it's the
11 00:02:04,949 --> 00:02:15,779 Spanish flash CPI. That's due at 3am on Tuesday, so we'll be looking for some manipulation that occur at that three o'clock hour, which is the heart of the
12 00:02:15,779 --> 00:02:28,859 London Open kill zone. So we know that we'll have an opportunity potentially, to see a day trade or scalp form around 3am. That particular day, or our our next
13 00:02:28,859 --> 00:02:38,459 live session. Now, given the fact that we've already highlighted and narrow down our focus to one particular pair, which is the Euro dollar on Tuesday, we know
14 00:02:38,459 --> 00:02:47,909 the time of the day, we're expecting to trade the form, based on the calendar at 3am. There's a medium impact news event for euro dollar. So now we have to go
15 00:02:47,909 --> 00:02:56,609 back to the charts and look for framework about that particular pair but we first start with the dollar index. Okay, so now we're looking at the dollar
16 00:02:56,609 --> 00:03:08,909 index. This is the daily chart. And the first thing we're going to be doing is looking at the last trading day, okay, that's going to be here. Friday, May
17 00:03:08,909 --> 00:03:22,739 26 2017. Okay, so we're going to do is going to look for the IP to data ranges to describe a trendline here, okay, and anchored on a higher low of the last
18 00:03:22,739 --> 00:03:33,389 trading day. So the easiest way of doing it. Drag it to the left. Okay, let go of it again, and then right click on it, and then drag it again. Now you'll
19 00:03:33,389 --> 00:03:46,199 notice there's a number to the right of the cursor. It's 37. And then it's 3839. What I'm going to be doing is I'm dragging that out until it says 60. So it
20 00:03:46,199 --> 00:03:58,289 gives me a rough approximation of the last 60 trading days. Now in this case, it's going to be factoring in Sundays, so Sundays, candles. So this is a quick
21 00:03:58,289 --> 00:04:07,139 and dirty way of looking for the two data ranges. But if your platform doesn't have Sundays, you don't have to consider this at all. But for the sake of this
22 00:04:07,379 --> 00:04:19,229 presentation, we do have a platform by way of forex LTDs demo account. That does include the Sunday candle, so we have to compensate for that. So you see here
23 00:04:19,229 --> 00:04:31,169 I've added a vertical line on every Sunday, using the trend line going back 60 So we have how many trading days here that are Sunday. We have 10 Sundays in
24 00:04:31,169 --> 00:04:49,349 here we have to deduct because we don't consider those reliable data. So we have to go out 12345 And there's another Sunday 12345 So this is 60 trading days in
25 00:04:49,349 --> 00:05:11,519 the past that occurs on March 6 2017. So we have to include that for our look back So we have our look back period. Here this is That's Sunday. Okay, so we
26 00:05:11,519 --> 00:05:15,719 have to go one more day forward. Right there.
27 00:05:16,889 --> 00:05:25,799 Okay, so it's 60 trading days back. Now that we have that that's our longest look back period for if the data ranges, or 60 trading days in the past. Okay,
28 00:05:25,799 --> 00:05:37,829 so using that theory, removing the Sundays, we have our 60 day, look back for the data range, the 40 day look back at the data range, and the last 20 days for
29 00:05:37,829 --> 00:05:54,179 IP to look back. So now we have a ranges at which we work for. For Fibonacci, we look for our PDE arrays inside this range. So in essence, what we're looking at
30 00:05:54,179 --> 00:06:04,829 is the entire daily chart, or only primary focus initially, is in the last 60 trading days, as defined, as you see here. You always count yesterday's days
31 00:06:04,829 --> 00:06:16,439 one, and go backwards, skipping Sundays to get 60 days than 40 days, and then 20 days, and as your true up to date ranges. So that's the range that we're working
32 00:06:16,439 --> 00:06:29,999 in, for the daily on the dollar index, every new day. If to date ranges add one more day to the ranges themselves. And we cut off one day looking back, so it's
33 00:06:29,999 --> 00:06:40,049 always shifting dynamically forward. So once you have this defined, you can create a box like this, and just simply move the box one day forward, and you'll
34 00:06:40,049 --> 00:06:50,249 have everything each time it never needs to change, it just keeps shifting forward. You'd have to create a new box for the 40 Day and the 20 day
35 00:06:50,429 --> 00:06:59,669 respectively. In shifting those three boxes forward, you always have the look back period calibrated correctly with new candles for Sunday. Now, for those
36 00:06:59,669 --> 00:07:08,309 individuals that do not have a live trading platform, when you eventually decide on your own, when you want to go into live trading with the content, should you
37 00:07:08,309 --> 00:07:14,579 decide to do that, I'm never going to tell you when to do that. Obviously, it's part of the mentorship. I'll never tell you when to do that. And it's completely
38 00:07:15,329 --> 00:07:22,169 individual decision on your part, I can't tell you what to tell you with live money. That's why we operate in a demo accounts. Everything we're teaching here
39 00:07:22,439 --> 00:07:32,699 is for demo purposes. But should you elect to trade with a live account using this information, you do so at your own risk. But if you don't have certainly
40 00:07:32,699 --> 00:07:41,429 candles, you don't have to do it like this, you simply just count yesterday's daily candle as day one and go back 60 days, go back 40 days and go back 20 days
41 00:07:41,429 --> 00:07:51,689 and you'll have the up to date array just keep shifting or dynamically. When we get to a new quarter or every three months, we anticipate a shift in market
42 00:07:51,689 --> 00:08:03,659 structure. And therefore there will be a quarterly shift that takes place. We we see that as potential trend reversals, but we don't always expect it. We get we
43 00:08:03,659 --> 00:08:15,659 could see it unfold. But again, it's not a panacea. It's not the be all end all. We just anticipate a likely shift in direction for the next two to three months.
44 00:08:18,659 --> 00:08:32,879 Okay, so now we can take this off. Okay, now we have our data ranges in here. So with that, we want to be looking at the last 20 days, where's our PD arrays?
45 00:08:33,869 --> 00:08:53,489 Okay, so we have a low here, and we have a high here. For day trading, you're going to operate in those last 20 days most of the time. Now, if we have already
46 00:08:53,489 --> 00:09:02,369 exhausted everything inside of the last 20 days in terms of all the PD arrays, we've already traded through any premium array or trade down through and away
47 00:09:02,369 --> 00:09:11,459 from a discount array in the last 20 days, which is highly unlikely but it can happen. You'd go back and look into the last 40 trading days for the at the data
48 00:09:11,459 --> 00:09:21,629 range for the last 40 trading days. But in day trading, and scalping, you're primarily going to work in the 20 day look back period. So we have this outlined
49 00:09:21,629 --> 00:09:35,189 here as the high and the low. And you've seen me do this a lot in my video work where if I just go about doing it, it's not a big deal. Everybody just sits back
50 00:09:35,189 --> 00:09:45,449 and watches it but we have price trading right here. And we have a bearish order block mean threshold. There's gonna eyeball it right there. So you have that on
51 00:09:45,449 --> 00:09:54,809 your chart. And going above that, we have a gap in here
52 00:09:57,060 --> 00:10:07,650 with a breaker here, so What I'll do is I'll always elect to go with the lower first, especially a breaker because it takes precedence over everything else. So
53 00:10:07,650 --> 00:10:16,860 I'm looking at the breakers low. Notice I'm not counting that wick here, like traditional Support Resistance guys, they would use that low. Here at 9046. I'm
54 00:10:16,860 --> 00:10:30,450 more concerned about the down candle. So I want that 98 for d3, I want that low. So I have that on my chart. Then we also have this level up here. So it's part
55 00:10:30,450 --> 00:10:39,750 of the shorter line Tanka to any kind of adjustments on the length. So I want you to notice this also, because this could potentially be a fair value gap that
56 00:10:39,750 --> 00:10:53,640 needs to fill the the high of this candle here, which comes in at 9814, that begins the fair value gap support. And the resistance is up here. But we also
57 00:10:53,640 --> 00:11:05,670 have a rough midpoint, that is a breaker. Okay, so these two down candles, begins the breaker that which we saw the short term high being violated and then
58 00:11:05,670 --> 00:11:14,040 rejecting lower, suddenly, they and we know that there's going to be most likely a reason to want to mitigate something up here. Even if it's going to be a
59 00:11:14,040 --> 00:11:23,550 smaller retracement, we have to be bearing in mind that this could be a sticking point for price going higher. And then we have a small little fair value gap in
60 00:11:23,550 --> 00:11:38,220 here, which will delineate and again, it's its own daily chart. So we're gonna have several levels in here, that will be seen. But and here we have it a Sunday
61 00:11:38,250 --> 00:11:49,800 gap, okay, so it's gonna be less likely to be that also in terms of influence. So well, we do note it here because it's on a Sunday candle. The gap is
62 00:11:49,890 --> 00:12:04,230 essentially all we have to hear. Okay, and we're gonna use that last up candles low as a anchor point. Now, for those without so many candles, you wouldn't have
63 00:12:04,230 --> 00:12:13,530 this on your chart at all. But we have to use it because it's Sunday small little moving up, then broke down, that may be a short term resistance point,
64 00:12:13,890 --> 00:12:22,080 you don't have a candle on Sundays, you're going to just simply go back to here, which is the last bearish order block, which is up close rate for the down move,
65 00:12:22,320 --> 00:12:32,280 that low closes in the fair value gap. Notice we're not using this one. Okay, because it has a down close, we want to see the last up close. That's where the
66 00:12:32,970 --> 00:12:44,880 fair value gap begins as its resistance point. So we're down here, there's our our levels or PD arrays going on the upside. And notice that in the last 20
67 00:12:44,880 --> 00:12:57,690 days, what we're doing is we're reframing the market, are we in a premium? Or are we in a discount market? Well, if this is the range, the high and the low,
68 00:12:58,320 --> 00:13:08,940 would that be right now, if we looked at price trading, say opened up on Sunday here or very close to the close on Friday, would that constitute a market that's
69 00:13:08,940 --> 00:13:22,800 at a premium or at a discount? Clearly, it's at a discount. Now, because it's in the discount, have the 20 day look back, it doesn't mean there's gonna buy it
70 00:13:22,800 --> 00:13:31,680 and expected this goes straight up for the dollar, get to look at where we are in terms of historical reference points. Even though we go back 60 trading days,
71 00:13:31,800 --> 00:13:42,990 okay, we are really low in the last 60, the last 40 In the last 20. So we're really down here, historically, looking beyond the last 60 trading days. For a
72 00:13:42,990 --> 00:13:51,990 macro view, we have always referred to this low back here in recent analysis because it's going to be influential. So price did sweep below that, like we
73 00:13:51,990 --> 00:14:04,050 were expecting. And we saw a little bit of a move up. So we are in a discount market. With a lot of PD arrays on the upside that could be traded to even still
74 00:14:04,050 --> 00:14:13,470 keeping the bearish tone on the daily Dollar Index. This trend could continue going lower, but we have to outline where the price could be reaching up to
75 00:14:13,470 --> 00:14:26,550 should it start to move higher. Now for the discount raise because we've done all the premiums which is above market price, where we're at now and what's
76 00:14:26,550 --> 00:14:40,800 below us. We have a bullish order block right here the last down closed candle right in here. And we'll draw that out. Okay, and I'm going to disregard any
77 00:14:40,800 --> 00:14:52,500 mean threshold here because it's already worked on both sides of that. But this candle here, this last down candle has been violated by its high being 9742.
78 00:14:54,630 --> 00:15:11,970 We have a high on this candle at 9744. So Now this candle also becomes a propulsion candle, which is another order blocked, it's bullish, that creates a
79 00:15:11,970 --> 00:15:23,130 higher high. Now I'd like to see them a little bit more separated than this, but we, we refer to that level as well. And we'll use that word going forward. And
80 00:15:23,130 --> 00:15:35,730 that was also validated on Friday by a move through that candles high. So we have this level at 9738, which is the opening or 1939, in this case, close
81 00:15:35,730 --> 00:15:50,220 enough. We'll use that as a bullish order block. basis point for discount. So now we have all of the PDA arrays for the dollar index and the last 20 days, we
82 00:15:50,220 --> 00:16:06,090 do have a rejection block down here with the lowest down close, so we also have that as well. Okay, so every one of the PDA arrays are now labeled or delineated
83 00:16:06,090 --> 00:16:22,980 on the daily and now we got to look at what is institutional order flow for this market now. We're seeing in the last 60 days, we're seeing candles which are
84 00:16:23,190 --> 00:16:32,370 bearish order blocks when the price moves down away from it, it's been respected here. Up candles here, after avoid prices trade up to it in the last 40 trading
85 00:16:32,370 --> 00:16:42,870 days. It's respected that it's gone lower, we've had a gap in here price traded up into that field that it's sold off prices, broken lows, so institutional
86 00:16:42,870 --> 00:16:54,570 order flow for the dollar index is what bearish. So we have to elect decide on looking to go short, preferably, that's where the highest probability trades are
87 00:16:54,570 --> 00:17:07,800 with odds in our favor. But since we're day trading, we can counter trend trade that if we have the ranges defined in a form of a discount, so we're already in
88 00:17:07,800 --> 00:17:17,220 an extreme especially down here we have this old low we traded down below for this a potential reversal scenario that we could see some measure retracement,
89 00:17:17,880 --> 00:17:28,320 it doesn't have to retrace but we can reasonably expect it to. So we seen this down candle trade through and we have a couple of different gaps up in here. And
90 00:17:28,320 --> 00:17:37,920 we have a last up candle right in here. Small little rejection block right at that candles close as well which I won't add because it's it's gonna be one more
91 00:17:37,920 --> 00:17:46,890 level on here. But we would add that as price got closer to it, but you would consider it also in your own notes. But to keep the charts clean, that's what we
92 00:17:46,890 --> 00:18:04,410 would do. Now you would take this same element and add it to the euro dollars daily chart and we'll do that now. Okay, so we have the if the data ranges for
93 00:18:04,410 --> 00:18:17,670 6040 and 20 on the Eurodollar daily chart now and now we're going to look inside the last 20 days look back period and we're going to identify the range so we
94 00:18:17,670 --> 00:18:35,340 have the high of the last 20 days is here and the low in the last 20 days is here Okay, so we are in what discount or premium referencing the last 20 days
95 00:18:36,360 --> 00:18:45,930 we're at a premium so now we also go back here and look at a historical high okay because you have to have a macro perspective we've traded above this old
96 00:18:45,930 --> 00:18:56,280 high forgetting this wick regarding disregard that wick rather we've traded above an old high we are in the last 20 days range we are at a premium. So now
97 00:18:56,280 --> 00:19:13,740 we're gonna go through and add up all the discount arrays that would be below us in price so you go through and you grab a little trendline here we have an order
98 00:19:13,740 --> 00:19:28,350 block here bullish order block so we have to frame that to take this vertical line off Okay, so we have a bullish order block here. You would note didn't mean
99 00:19:28,350 --> 00:19:39,060 threshold as price gets down to it as well but we're gonna keep the charts very clean for right now. And we have a fair value gap that begins with this candles
100 00:19:39,060 --> 00:19:54,360 low down to this candles high. So we have our liquidity void here. Fair value gap is in here. And inside this last 20 days we also have an old high so you
101 00:19:54,360 --> 00:19:55,290 have to reference that.
102 00:19:58,020 --> 00:20:07,110 You see how nice by understanding that you To date ranges, it limits your focus to what's only salient at the time right now, like, what's what's important.
103 00:20:07,110 --> 00:20:15,240 What's the things that need to be concerning yourself with these operations and concepts is what helps you arrive at that. So you can so you can think about
104 00:20:15,270 --> 00:20:28,980 price algorithmically, like HIPAA does. And we have a small little fair value gap down here as well. Should price find its way back down here. We have that
105 00:20:29,250 --> 00:20:40,860 small little area in here that could fill in. And let's extend that out a little bit more in time. So there are our discount arrays. And the premium arrays we
106 00:20:40,860 --> 00:20:53,460 have is the rejection block on the last up highest close here. So we'll have that. And then we have the old high naturally, that forms the 20 day look back
107 00:20:53,460 --> 00:21:05,520 periods range high right in here. And that's it. Now we simply go down into a four hour. And we do the same thing after we know, what's the what's the
108 00:21:05,520 --> 00:21:13,950 institutional order flow right now? Well, you can see, the last 60 days, we had down close candles, which is bought or block when price moves away from it
109 00:21:13,950 --> 00:21:24,540 prices respect to that, yes. Okay, we're down candles here in succession, which is one big bullet or block, price hits it and trades away, price comes back down
110 00:21:24,570 --> 00:21:34,380 trades into that same order block here and rallies away. We have a gap. That also has to be considered. But we're not going to do that here because it's a
111 00:21:34,590 --> 00:21:46,950 great deal away. But this would also be noted on your charts as we got closer to it. And then we can go into these last two down candles are ahead of the gap
112 00:21:46,950 --> 00:22:00,180 closure price trades down into that and below these old lows for liquidity pool rejects, trades higher. And we've had yet to come down here and really try to
113 00:22:00,210 --> 00:22:07,710 capitalize any bullish or block here. We worked on the wick in here on this candle, and on this candle here. But I think it's going to want to try to come
114 00:22:07,710 --> 00:22:15,090 down into there because we are at a premium. But we have to be mindful of this opening and the mean threshold if that gives way to mean thresholds. And we're
115 00:22:15,090 --> 00:22:30,120 gonna be looking for the fair value gap to be a likely candidate for filling in going down to around 110 15 110. Big figure. So let's go down into a four hour
116 00:22:30,120 --> 00:22:40,380 chart. Okay, here we are on a four hour chart for the euro dollar. And you can see how all the daily PD arrays in the last 20 trading days look back for HIPAA,
117 00:22:40,950 --> 00:22:50,400 we can see where we're at that we'll be looking to consider where liquidity may be resting or giving traders at the bank level an opportunity to get in and
118 00:22:50,610 --> 00:22:59,670 capitalize orders, whether it be long or short. Now since we're on the four hour chart, we have to again, consider what the longer term institutional order flow
119 00:22:59,670 --> 00:23:11,220 is on the daily chart. It's hired going bullish. While we are at a premium relative to the last 20 days and certainly last 1460 trading days. This could be
120 00:23:11,220 --> 00:23:21,960 just a opportunity for price to retrace back down to gather up discount arrays to capitalize new long positions. So when we look at the four hour chart, what
121 00:23:21,960 --> 00:23:32,070 we're going to be doing is is we're looking for PD arrays Yes, but we're looking for reasons to justify why price could be going down to gather up liquidity for
122 00:23:32,310 --> 00:23:44,340 an offset accumulation. So, when we have price like this trading in small consolidation like this and we have a hard timeframe daily PD erase, what I like
123 00:23:44,340 --> 00:23:53,280 to do is I like to see okay, if I knew the institutional order flow on a daily chart is bullish, I want to first make a case and argue that there's reasons for
124 00:23:53,280 --> 00:24:03,900 them to want to take it down to take out sell stops to accumulate new long positions. So that can be done by two different things we can see the lowest
125 00:24:03,900 --> 00:24:17,220 that was formed here and here price can go down below that and hit the higher timeframe PD array Okay, or we can trade down below this one because we have
126 00:24:17,220 --> 00:24:27,810 this old low and this old low to price could stab down below that and basically operate under the guise that we are in a premium market but it could drop down
127 00:24:28,050 --> 00:24:38,670 to a short term discount market relative to the four hour chart. So what am I saying here? Well, we have another little range in here from this low to this
128 00:24:38,670 --> 00:24:54,900 high. So if we frame that with a fib in here okay, we have optimal trade entry in here which would be below equilibrium which is in a discount
129 00:24:56,460 --> 00:25:05,790 and we would be also operating on this down close can under which is a bullish order block, which is at 70.5 level. So that's a level we will be watching to
130 00:25:05,790 --> 00:25:16,140 see if there's any sensitivity should price trade down to it. So you have that as a level of considering. And we have the total range from this low down here.
131 00:25:17,340 --> 00:25:27,930 Okay, equilibrium is below this low. And then we have a little bit of a gap in here a lot more gap in here, which is the optimal trade entry also to be a
132 00:25:27,930 --> 00:25:36,270 little bit of a gap. And here closer, then we have this old high back here as well. So price could come down and retrace from the premium market that we're in
133 00:25:36,270 --> 00:25:46,800 the daily, you could trade all the way down into a discount on the four hour, just to give an opportunity for banks to capitalize new Long's at this old high
134 00:25:47,190 --> 00:25:55,320 enclosing some of this fair value gap. Now notice the fair value gap in here, let me get the FIB off. So you can see a better a fair value gap with only
135 00:25:55,320 --> 00:26:06,900 buyside delivery that can fill in down here. And it can retest all this old high and go down below a little bit. So we could look for this daily PD array at
136 00:26:06,900 --> 00:26:17,190 109 90 to be the basis for a discount reaction on a higher timeframe, bullish institutional order flow for the euro dollar. So what am I saying? I'm saying
137 00:26:17,190 --> 00:26:26,130 that, should we break these lows in here and should we go below the order block here, we're gonna go down to 109 90 Most likely, or this old high back here,
138 00:26:26,130 --> 00:26:36,960 which comes in at 110 15. So either one of these two levels here are better for a buy. But while we're up here price, we can really expect to see it sell off.
139 00:26:37,260 --> 00:26:47,310 Now, if we see price trade through the up close candle here, which is a bearish order block or bullish candle wait for this down move. If we lose the or trade
140 00:26:47,310 --> 00:26:56,520 above the mean threshold, that candle there, because we get to look at the PD arrays on the four hour chart, which we're doing now in conversation. If we go
141 00:26:56,520 --> 00:27:08,010 through that, that would nullify any near term for our bearishness and they're going to want to run it higher. So if we do that, and we trade through this last
142 00:27:08,040 --> 00:27:14,460 up candle, and we trade through that, then we're going to be looking at these two down candles as a potential bullish order block on the four hour chart, once
143 00:27:14,460 --> 00:27:24,600 this up candle is traded through on the upside. So if we violate this entire up candle or bearish order block, then we had to turn our attention to these two
144 00:27:24,600 --> 00:27:34,350 down candles which will become at a later time a potential bullish order block. So we will be looking at the open on this candle at 112 20 and the high at
145 00:27:34,350 --> 00:27:49,290 112 37. So basically, it could be 112 40 to 112 20. In that range, we could be looking for it. And we're gonna look down into a 60 minute chart in a minute.
146 00:27:49,290 --> 00:27:58,530 But that's how we would map out to scenarios will obviously have to justify the higher timeframe daily institutional order flow being bullish. So you'd look for
147 00:27:58,530 --> 00:28:07,290 arguments that would say, Okay, if price were to drop down, why would they want to drop it down while they want to take out equal lows, take out some stops,
148 00:28:07,590 --> 00:28:17,190 okay, and it can come back down into this block here, relative to the four hour chart. But we are referencing the daily more than the four hour. So we have
149 00:28:17,190 --> 00:28:28,230 these PD arrays, which was this old love to price can trade down below that. And if it trades down below that this old high becomes influential. Okay. And
150 00:28:28,290 --> 00:28:36,210 obviously we'll get more detail as we go. But the start looking for scenarios why and justify why the argument for continuing the higher timeframe
151 00:28:36,210 --> 00:28:44,910 institutional order flow should be the case. But if you can't make a sound argument for entries based on that, then you have to start electing to say,
152 00:28:44,910 --> 00:28:55,920 Okay, we are in a premium market, maybe the market needs a good down into a discount, yes to go higher. But if it takes out specific discount arrays, them
153 00:28:55,920 --> 00:29:05,280 are probably changing tide. And it's going to want to go lower, more intermediate term basis versus a short term basis. So we're gonna drop down to a
154 00:29:05,280 --> 00:29:14,730 60 minute chart and do the same thing. Understanding that if we look with Ctrl y, this would give us our weekly perspective, or what the weekly ranges look
155 00:29:14,730 --> 00:29:15,090 like.
156 00:29:16,380 --> 00:29:26,250 From a profile standpoint, we can see each week it opens, trades down and comes off the low. It starts this week trades all that and closes on the high of the
157 00:29:26,250 --> 00:29:35,550 week last week. And one last week the week before that time of this recording. And in the last week we just closed at the time of this recording. We've had
158 00:29:35,550 --> 00:29:46,560 basically a consolidation week. Okay, so while it has had opportunities to sell off, and we've seen those unfold, overall this market or prepare the Euro has
159 00:29:46,560 --> 00:29:56,760 been in consolidation this week. So we know that there's a support level that it's created for this week. And if you trade down below it, we have an order
160 00:29:56,760 --> 00:30:05,700 block to watch for potential new buying in It trades off of there and starts to go higher, we know that we can anticipate bullish institutional order flow on
161 00:30:05,700 --> 00:30:13,860 the four hour chart, and to see it be supported on the daily as well. And then we can continuously looking go into the market looking for Long's, which is what
162 00:30:13,860 --> 00:30:24,900 we'll start building cases for now on the 60 minute chart. So let's do that now. Okay, so now we have a 60 minute chart of the Euro. Okay, and now we have all
163 00:30:24,900 --> 00:30:33,510 the individual days, broken down with a ctrl y, US personnel gonna take that off for a second, we'll come back to in a moment. So now we have our clean chart
164 00:30:33,510 --> 00:30:46,110 here. And we see the equal lows this low here in this low here. And below us, again, this is a daily PD array. We have below us, we have the discount array of
165 00:30:46,110 --> 00:30:54,750 this bullet or block, which has these two down close candles. And I want you to take a close look, again, we're looking for confluences of PD raised overlap
166 00:30:54,750 --> 00:31:02,910 with one another and justify if they're going to take this market lower, is it going down just to give them an opportunity to buy a cheaper price for longer
167 00:31:02,910 --> 00:31:14,460 term institutional order flow being higher, to unfold and look for this 113 114 is on the euro? Or are we going down for a more sustainable move? We can't guess
168 00:31:14,460 --> 00:31:22,950 that yet. We can't determine that yet. Don't ever try to think that you can. We are looking for probabilities right now we've been in a consolidation. So they
169 00:31:22,950 --> 00:31:31,650 could be taking us into consolidation to build a larger liquidity pool of sell stocks below the marketplace and then drop down to take their cell stops to
170 00:31:31,650 --> 00:31:42,120 capitalize new Long's on if they're doing that, where could they do it? Well, only hourly basis a PD array. We have a fair value got right in here starts at
171 00:31:42,120 --> 00:31:53,880 this candles high in this candles low. So in here, we have a fair value gap. So right here
172 00:31:59,070 --> 00:32:09,990 this is a fair pay gap. And to the left of it. We have two down close candles. Right for it Nice move. So we know there's a butcher block right there. So we
173 00:32:09,990 --> 00:32:29,160 have a convergence of two discount arrays right here. And it's below the equal lows. Okay, so the low comes in at 111 62. And this level comes down here starts
174 00:32:29,190 --> 00:32:50,910 at a low of 111 36. In the high on this candle, forget support would be 111 30. So while 1131 1135 Should price trade down to that level, okay? We could expect
175 00:32:50,910 --> 00:33:01,590 some measure of bullishness. Now, how do we use this information if price trades down to this level here? Okay. If it does that, we want to be in a 15 minute
176 00:33:01,590 --> 00:33:13,410 timeframe. And look for our standard deviations. We want to be doing the central bank dealers range, we want to be doing the flout which is central bank daily
177 00:33:13,410 --> 00:33:22,830 trends and Asian range and Asian range standard deviations. And we want to project them above and below the marketplace, giving us potential targets to
178 00:33:22,830 --> 00:33:31,050 reach for. But also we will be looking at the opening price. When price trades down at this level. We will be looking at the opening price at zero GMT and the
179 00:33:31,050 --> 00:33:39,180 opening price at midnight in New York. And what we'll be expecting, if we're expecting some measure bullishness and here we're going to be looking for what
180 00:33:39,570 --> 00:33:52,350 the open and a very small decline if at all, after the opening at zero GMT or midnight, New York on a 15 minute candle or a 15 minute chart rather. And by
181 00:33:52,350 --> 00:34:02,550 having that protraction very state of the market where it opens, and trades down from zero GMT or midnight candle in New York, if it trades down below that
182 00:34:02,550 --> 00:34:15,960 opening price, we would expect at this level or very close to it to be a buy for a day trade. That expectation would be for the London session that particular
183 00:34:15,960 --> 00:34:28,590 day, if London fulfills that we would expect some measure of continuation on the New York session. But if the New York session trades up to say these levels up
184 00:34:28,590 --> 00:34:41,310 in here, okay, we have a lot of resistance in here. So that could promote a New York session reversal. So that we were already framing scenarios is what you
185 00:34:41,310 --> 00:34:50,370 have to do is go through your templates and think about okay, the idea is we have already come down to this level and there's some bullishness here and run
186 00:34:50,370 --> 00:34:57,990 scenarios in your mind and build a plan. Now you can't just say okay, this is the only way it's going to unfold. This is the only way that it can happen
187 00:34:58,020 --> 00:35:05,910 because believe me, it can do a lot of depth And thanks. But generally, if you think in generic terms, if we're bullish or bearish, there's only a few
188 00:35:05,910 --> 00:35:13,740 templates that you can use based on a day of the week that it trades down to this level. Remember, if it trades down there on to Monday, well, Monday is a
189 00:35:13,740 --> 00:35:24,900 bank holiday in the US. So I would be more unlikely to be trading that. But for observation purposes, if it does it, you can see it. But Tuesday, when we go
190 00:35:24,900 --> 00:35:34,380 back to our live sessions, again, it'd be the day after the holiday. And if it trades on that level, we can reasonably expect to see an open decline power
191 00:35:34,380 --> 00:35:44,130 three formation and an up close, or at least for the London session for a scalp. Then New York, we look for evidences to see if it gets up to that level, does it
192 00:35:44,130 --> 00:35:52,440 have willingness to go through it? If it does, guess what that means? This run down was for stock runs below here. And then institutional order flow will be
193 00:35:52,440 --> 00:36:03,150 kicking back in bullish from the daily standpoint. And then we had to switch gears and look for continuation on the upside, which is another open down move,
194 00:36:03,150 --> 00:36:14,670 or Judas to buy it at zero GMT or at midnight, New York. And it looked for runs on the liquidity above the marketplace and then premium capacity. But should
195 00:36:14,670 --> 00:36:24,870 price fail and say, price gets down to this level here, and you tried to do a buy, and it fails and stops you out, then you have to go out to a little bit
196 00:36:24,870 --> 00:36:25,830 longer perspective.
197 00:36:32,190 --> 00:36:44,580 Consider what these daily PD arrays may have impact for, we have equal lows below here. And then a fair value get down here and that old high. So if we lose
198 00:36:44,580 --> 00:36:52,260 the opportunity to find the long at this level, because it's a bullish order block and fair value gap, and it's below the equal lows. So if that drops down,
199 00:36:52,440 --> 00:37:02,460 and no banks come in and step into capitalize there, well, you'll get immediate feedback by being stopped out. And then if it does, that will anticipate price
200 00:37:02,550 --> 00:37:13,560 running below these lows, not for a buying opportunity, but for targeting purposes for expansion. So we could potentially see a sell off at this levels
201 00:37:13,560 --> 00:37:22,950 failure. So we can see a return back to fair value. Bearish order block, fill in a fair value gap liquidity void, and then sell off to a run down to this level
202 00:37:22,950 --> 00:37:36,540 here. Closing in that gap as well. So there's a formula at which we go through we start with liquidity, injections or volatility injections rather by looking
203 00:37:36,540 --> 00:37:47,790 at the economic calendar framing the time of day, what influences on what pairs are we going to have for London and New York. And then we go in and get an
204 00:37:47,790 --> 00:37:58,230 analysis baseline on the dollar index, determine if the data range look at the PD arrays consider with the PD array matrix, are we in a discount or premium
205 00:37:58,230 --> 00:38:10,920 market, then we go into a breakdown of the pair that has the news driver coming out at that session. We know at three o'clock on Tuesday, May 30 2017, there's
206 00:38:10,920 --> 00:38:22,230 going to be a medium impact news event. So we want to be anticipating some measure of manipulation. Now, what could that be? Well, Monday and Sunday could
207 00:38:22,230 --> 00:38:32,790 see this level trading too. So I can't forecast that. But say we stay in a tight range, okay, or we trade a little bit higher at some point on Tuesday or
208 00:38:32,790 --> 00:38:42,300 Wednesday. If we trade down to this level here, that could be a Tuesday long, low of the week or a Wednesday low of the week. Think you have to think about
209 00:38:42,300 --> 00:38:51,060 those weekly templates. So if we're looking for reasons to justify why the longer term daily institutional or flow, which is bullish for Euro could resume
210 00:38:51,210 --> 00:39:00,600 by going down to here, then that builds the case for watching the rest of the week unfold. But what day of the week does it hit that level? Consider your
211 00:39:00,600 --> 00:39:08,610 weekly templates. If we're looking for the reasons to justify a continuation of the bullishness on the daily, which is always the case, we're looking for daily
212 00:39:08,610 --> 00:39:18,330 institutional order flow, to give us our directional bias. But there are times where like we are right now, on the euro, we're at a really high premium. And it
213 00:39:18,330 --> 00:39:26,940 may require it to consolidate longer than we were seeing here last week, or it may need to do a deeper retracement down into a discount market to allow banks
214 00:39:26,940 --> 00:39:37,290 to buy it at a cheaper level. And also unseat offset and remove those individuals that are already long, that are very aggressive about trailing stop
215 00:39:37,290 --> 00:39:46,320 losses or maybe even below here. And you can come down through all this capitalizing old high and folks could be looking at this as a potential reversal
216 00:39:46,320 --> 00:39:55,290 long term and it very well may be I'm not trying to pick a top in a year and I mentioned that earlier. Last week in our live sessions I don't want to do top
217 00:39:55,290 --> 00:40:04,650 picking. Okay, because the market is showing primarily it wants to go higher and it's very strong. In the case of its bullishness on a daily, so we don't want to
218 00:40:04,650 --> 00:40:13,590 fight that we don't want to stand in front of it because there's large funds and flows going into this currency. So if that's the case, we need to be justifying
219 00:40:13,590 --> 00:40:23,280 reasons to go in and long. So the routine is in summary form, as you see here.
220 00:40:26,040 --> 00:40:37,230 Everything we do here in this list is one step at a time, we break it down, and we look at all of those elements. When we get to the point where we're looking
221 00:40:37,230 --> 00:40:49,920 at a 15 minute timeframe, you would be adding the standard deviations for the central bank deelish range, the Asian range, respectively, and the flout. So by
222 00:40:49,920 --> 00:41:02,550 having those deviations and also incorporating the average daily range, if there's a confluence of those standard deviations, ADR and a PD array, on a 15
223 00:41:02,550 --> 00:41:14,100 minute basis, or the 60 minute or four hour PD raise, then you know, there's a high probability for price to want to expand higher or lower to those respective
224 00:41:14,100 --> 00:41:22,470 levels. When I'm picking daily highs and lows, and I'm getting really close to it, sometimes rate to the PIP or a few pips away from it. This is the procedure
225 00:41:22,470 --> 00:41:30,180 I'm using. There's nothing else that I'm doing at secret. There's nothing else that's, you know, mystical about it. There's no other indicators that helped me
226 00:41:30,180 --> 00:41:39,630 do it. It's the work of looking at it and using the templates that I've given you for the weekly and for the daily. So if we know what we're expecting in
227 00:41:39,630 --> 00:41:50,610 terms of a scenario, if we're bullish, there's only so many weekly templates to outline the range for the weekly grains to be bullish. So we would look for
228 00:41:50,610 --> 00:41:58,350 evidence to support those. We obviously start from the Monday low the week. And if Monday doesn't give us enough evidence, we look for Tuesday, low in the week
229 00:41:58,350 --> 00:42:05,880 to form it Tuesday starts to trade up. And we know that Wednesday is probably going to be a good buying day to scout Long's in. And we can do that all the way
230 00:42:05,880 --> 00:42:16,710 up into Thursdays, New York open where we content, basically, expect the weekly highs to start to form doesn't have to, but that's the conditions we anticipate.
231 00:42:17,130 --> 00:42:26,190 And then if Thursday continued higher, then we know that there's probably going to be some profit taking on Friday. So try not to buy on Friday, either mudita
232 00:42:26,190 --> 00:42:36,870 silence, they'll do anything or look for currencies, okay, that have opportunities that would create reversal scenarios where they've already met
233 00:42:36,870 --> 00:42:44,250 their extreme, and maybe they'll get some opportunities going against it. But we don't want to be trading short pairs that we had primarily outlined ahead of
234 00:42:44,250 --> 00:42:53,190 time that we're bullish. When we have that weekly range for institutional flow ideas, as we've outlined here in this teaching. Once that's incorporated in your
235 00:42:53,190 --> 00:43:01,230 analysis, you never want to go against that for the framework of high probability. You want to stay inside that framework. In other words, if the
236 00:43:01,320 --> 00:43:08,940 daily institutional workflow is bullish, we want to primarily look for reasons to justify going long. And guess what that means. You're not always going to get
237 00:43:08,940 --> 00:43:16,920 a day trade buying in the environment, there's going to be days of retracement or consolidation. And there's nothing wrong with that. Again, day trading is not
238 00:43:16,920 --> 00:43:29,910 everyday trading and Scalping is not every move. Okay? Every fluctuation intraday is not a scalp. So once we have those confluences of standard
239 00:43:29,910 --> 00:43:37,920 deviations, average daily range, in line with what we expect in terms of institutional order flow, or the evidences of where we think the bias is going
240 00:43:37,920 --> 00:43:49,530 to be based on that daily four hour timeframe. Once we have that, we use that weekly template to justify what that weekly range may be. And that puts the
241 00:43:49,710 --> 00:44:00,570 highest probability in our favor. Once we have that, then we go into our daily routine of Okay, is it going to be a open down low of the day first and up
242 00:44:00,570 --> 00:44:09,840 close? Or is it going to be a consolidation during London den trades down into New York creating the low for a buy opportunity for market reversal profile,
243 00:44:10,080 --> 00:44:22,320 then trades higher? That's what you're looking for. You have to see things that justify and frame the idea. You're never going to know. Trust me when I tell you
244 00:44:22,320 --> 00:44:31,590 this and you're never going to know what weekly template it's going to unfold. Before Sunday's open. You know that there's a few of them that you have an
245 00:44:32,070 --> 00:44:39,780 expectation that's unfolding. So it gives you a bias to work with him in the framework that helps you train, train your eye to look for these scenarios to
246 00:44:39,780 --> 00:44:49,080 unfold but more importantly, it gives you the context to frame your trades. You hear the playing trade trade, you're playing stuff. Well, if you don't know what
247 00:44:49,080 --> 00:44:58,800 that means, conceptually with my stuff. It just simply means going through the motions of are we bullish or bearish longer term on the daily if we're bullish,
248 00:44:58,950 --> 00:45:06,930 we're gonna be focusing on Weekly range to unfold in a bullish capacity. So look at the weekly templates I provided you in the previous months and say, Okay,
249 00:45:06,930 --> 00:45:17,130 where are we in terms of each day of the week unfolding that that template? Even if you only get one portion of that template to unfold, and you made a profit,
250 00:45:17,460 --> 00:45:20,730 that's enough, don't try to do it every single day.
251 00:45:22,530 --> 00:45:31,890 When we look at scenarios, individual day perspective, are we looking for scenarios where the london session is again, consolidation, then the New York
252 00:45:31,890 --> 00:45:42,180 session creates the low of the day? Or are we creating a low day rate from jump at zero GMT? Or are we going to see that classic buy day where at midnight, New
253 00:45:42,180 --> 00:45:54,090 York, we open and trade down, creating a low the day and then rally, you don't know for certain you don't know. So if you're going to trade at zero GMT, every
254 00:45:54,090 --> 00:46:02,640 day, or every time you tried to trade, you may take losses, then you have to trade again after midnight, New York. And again, that creates and promotes over
255 00:46:02,640 --> 00:46:14,010 trading or the potential for it. So if you're willing to leave the market, be in never worry about having to get to zero GMT early start of the daily range. And
256 00:46:14,010 --> 00:46:22,080 just focusing on midnight, which primarily, that's what I like to do use that opening at midnight in New York. And if I'm bullish, I want to see a move down
257 00:46:22,080 --> 00:46:32,730 below that opening price to some measure of standard deviations of the Asian range. The flower or central bank dealers range to a discount PD array that I
258 00:46:32,730 --> 00:46:45,150 can see on a 15 minute timeframe that may converge also, with a daily for our 60 minute discount array. By doing that, it helps me in terms of confidence nail
259 00:46:45,150 --> 00:46:54,720 down that low of the day. If it happens to occur in London kill zone, I can be buying it all day long and not have any fear about it. Using the 33 Pip standard
260 00:46:54,720 --> 00:47:04,560 deviation that we expect from the opening price when a classic one or PIP day opening price trades down up to 33 pips or there abouts. Also, that framework
261 00:47:04,590 --> 00:47:13,650 helps build the model of precision. And then we'd look for those expansions higher on bullish days. With our standard deviations in the Asian range central
262 00:47:13,650 --> 00:47:25,740 bank dealers range and or the flout. Looking for average daily range high to converge as well, again with a an opposing premium array that's seen on a 1560
263 00:47:25,740 --> 00:47:41,100 minute, four hour or daily. If the average daily range is smaller than 60 pips, we know that there's going to be a likelihood of a large range day, eventually
264 00:47:41,100 --> 00:47:49,260 for trading institutional order flow. In that bias, we may get much more than the average daily range. So if the average daily range is met before New York or
265 00:47:49,260 --> 00:47:58,470 at New York's open, we know that we probably caught a tiger by the tail, and we need to leave something on for that large range day to complete itself, it may
266 00:47:58,470 --> 00:48:10,860 go past 10 3011 o'clock, morning close may go deeper into the day at maybe one or two o'clock. So this is our routine. This is what we do on a day by day basis
267 00:48:10,860 --> 00:48:21,540 as a day trader and as a scalper. And it gives us context to go into the marketplace and look for things to unfold in a systematic, methodical, and
268 00:48:21,630 --> 00:48:31,650 here's the word I like to use all the time, a generic form, there are still choices that you're going to have to make as the trader, you need to elect to do
269 00:48:32,070 --> 00:48:43,410 one thing over the other. And it's a step by step basis you're looking for, if you're still scratching your head, you're still looking for the unicorn, that
270 00:48:43,410 --> 00:48:50,850 means it's the perfect this is what you do all the time, and nothing else is you has to be concerned with, you don't ever need to do anything else. That's the
271 00:48:50,850 --> 00:49:00,390 type of trade you're looking for. And they do not exist. Because there's never going to be a black and white scenario. There never is you're never going to
272 00:49:00,390 --> 00:49:09,420 have it. What we have is probabilities, we operate inside of probabilities. But if we understand what those probabilities are, and the context and the
273 00:49:09,420 --> 00:49:20,430 conditions around those setups, the more odds we have in our favor, the more at we're going to be correct. And when we're right, it will be on our side, because
274 00:49:20,430 --> 00:49:29,310 we're going to be trading in line with it. So if we understand what it is doing, that's why you see my precision, like it is, is not because it's luck. It's not
275 00:49:29,310 --> 00:49:38,550 because it's, you know, has a lot to do with experience. Yes, but I'm using what I just showed you here in this order in this manner, this routine. I do that
276 00:49:38,550 --> 00:49:45,870 very thing every single trading day. I may not do it all in front of you. But that's what leads me to that
277 00:49:45,899 --> 00:49:55,199 this that determination of what I want to do. And sometimes I'm right. Sometimes I'm wrong. But when I'm wrong, it gives me more insight and that's what you need
278 00:49:55,199 --> 00:50:06,569 to identify with. Even if you're wrong. That is insight that feedback you get immediately, that is empowering. But you're viewing that loss monetarily as a
279 00:50:06,569 --> 00:50:18,569 loss, it's detrimental, it's going to kill you. It's mental cancer, you can handle it. Because your perspective is retail Smart Money investors, they do not
280 00:50:18,689 --> 00:50:36,059 view a loss as a defeat, it's a premium paid for greater insight. So if you knew somebody on the inside, was rigging a football game, okay, this may not be true,
281 00:50:36,059 --> 00:50:43,799 I'm just going to give you a scenario. But if you knew that a team was going to lay down for another team, and all the money was being bet on that team winning
282 00:50:43,799 --> 00:50:55,049 but you knew inside track, that team was going to lay down. Who has the advantage, the bulk of that money being bet on that team, that may be a
283 00:50:55,049 --> 00:51:04,409 superstars team, or the insider that knows that team player is going to lay down and the quarterbacks gonna throw the game. Obviously, the person that knows the
284 00:51:04,409 --> 00:51:14,009 inside track, so what we're trying to do is align ourselves with those individuals that know the inside track. So if we're wrong on our assumptions on
285 00:51:14,009 --> 00:51:23,339 an analysis, we immediately know what they're doing. They tip their hand, it means maybe sometimes, wait for another setup that may not be immediately seen
286 00:51:23,549 --> 00:51:35,339 or reverse your idea. In day trading, you're going to be very flexible in that idea, especially with scalping. But for lowest risk and highest probability,
287 00:51:35,549 --> 00:51:47,909 direction based trading. This is what I do on a daily basis. This is what I always look to do day by day by day, because if I can't get my weekly objective,
288 00:51:48,089 --> 00:51:56,099 this is the operation on go through the try to get my weekly objective and small pieces, not because I have to have it. But if there's enough time, before
289 00:51:56,099 --> 00:52:06,599 Friday's close, I will go in using this criteria to get me my weekly objective or something. Maybe it mitigated loss or something like that. And you saw me
290 00:52:06,599 --> 00:52:13,889 take a loss this week, and how I mitigated it was doing this very same thing. But because I've been doing it so long, I can see it on the chart real quick.
291 00:52:14,669 --> 00:52:23,039 For some of you, it may take you 3040 minutes to do this every single day to break it down and look at it and weigh out some scenarios. But as you do it more
292 00:52:23,039 --> 00:52:32,489 and more and more, your experience level will promote a faster response by you looking at price, your eyes will automatically go to where the data ranges reach
293 00:52:32,489 --> 00:52:41,669 back to where the PD arrays are going your respective timeframes. And it becomes second nature to AV just real quick. And you'll notice this also by watching
294 00:52:41,669 --> 00:52:51,269 price action intraday. That's why I believe that even if you're not going to be a day trader, it is so beneficial for you to have intraday price action,
295 00:52:52,139 --> 00:53:01,859 watching it, okay, and if you can find a way of screen capturing intraday price action on a 15 or five minute chart, okay, and just let it record all day long
296 00:53:01,859 --> 00:53:11,429 if you're not there, and then come back and watch it. And literally just look at it on us. Speed up the playback, if you will, like I do some of my recordings,
297 00:53:11,699 --> 00:53:21,779 and I'll speed it up to save you a lot of time, but watching this like, unfold. But if you watch it, okay, if you study how price action works, and you see it,
298 00:53:21,779 --> 00:53:30,089 you build a greater understanding about it, because it's not enough, me showing you static examples. And some of you have come into this with the expectation
299 00:53:30,089 --> 00:53:37,199 that I'm going to show you a magical picture, and it's going to remove all the work for you. You're going to work, you're gonna have to look for these things,
300 00:53:37,199 --> 00:53:45,419 you have to weigh it all out and see is there opportunity here? And if it doesn't pan out, what does that tell me. And that's what I've outlined here. If
301 00:53:45,419 --> 00:53:57,809 we lose this level, is equal lows. I'm expecting a reasonable bounce or reasons to expect a bounce at this level here because we've seen nice buying that fair
302 00:53:57,809 --> 00:54:06,539 value gap there. So it minimum I think we're probably gonna try to get down there as an opportunity to clear out some stops. If it goes through that it
303 00:54:06,539 --> 00:54:15,539 doesn't support price. I think we're going down to this old high and the close in this fair value gap. So we'll look for the 110 20 to 110 big figure
304 00:54:15,539 --> 00:54:26,189 basically. Okay as a downside objective, and guess what that means? Over 100 pips potential profit, more ranges work with, let's call it that nonprofit. So
305 00:54:26,189 --> 00:54:33,839 if it moves below this level here, we have about 100 pips more till we get down to that level. Inside that that's enough to make money.
306 00:54:35,280 --> 00:54:42,240 And you would just switch gears and say, Okay, if we lose this level here, the next trading day, I'm going to look at the opening price of zero GMT, or at
307 00:54:42,240 --> 00:54:52,380 midnight in New York, and we'll wait for a rally up above that opening price to some measure of a premium array may be closing the fair value gap, a Bear Bear
308 00:54:52,380 --> 00:55:00,240 shorter blog, and I'm gonna get short on that on the basis of a 15 or five minute chart, and I look for range expanse and they get down to this low Little.
309 00:55:01,170 --> 00:55:09,960 And then we had to switch gears and think this could be an opportunity for that higher timeframe daily institution workflow to kick back in again and trade
310 00:55:09,960 --> 00:55:19,860 higher. And that's all we're doing as a scalper. And as a day trader, you have to be nimble. But the best trades are going to be in sync with the higher time
311 00:55:19,860 --> 00:55:28,440 finance, institutional order flow. It's bullish, we're going to be looking to be buyer. Monday, Tuesday, Wednesdays, if institutional order flow is bearish, we
312 00:55:28,440 --> 00:55:37,230 want to want to be looking for selling short as day trader scalper on Monday, Tuesday and Wednesday. If you stick to those primary conditions, you won't have
313 00:55:37,230 --> 00:55:48,060 it linked every single trading day. But you will be profitable over long time. You're going to have losing weeks, you're gonna have losing trading days, you
314 00:55:48,060 --> 00:55:58,980 may have months where you go into a drawdown, but if you stick with this, I promise you will get better. But you can't be the best right out of the gate.
315 00:55:59,610 --> 00:56:08,820 You have to grow into it. And these are the criterias that I work with him to do it. So now you have my daily routine. What I break down how I do it, go in using
316 00:56:08,850 --> 00:56:18,450 it to data ranges, I use the PDA arrays, and I look for using the weekly templates I've supplied you. And also what we expect is internal intraday
317 00:56:19,800 --> 00:56:30,120 templates, what we expect them what days of the week to see those most likely unfold. See, what we're doing is we're blending time and price scenarios. That's
318 00:56:30,120 --> 00:56:40,710 what those templates provide you. Not all of them are going to unfold, you know, because you only got to get one template to unfold for the weekly range in one
319 00:56:40,710 --> 00:56:50,160 template for the intraday. But not every one of those templates agree with one another. When you're bullish you and look at how the weekly templates may
320 00:56:50,160 --> 00:57:00,060 unfold, and then zero, you're focusing on those specific days. If there's a Wednesday reversal, and you're bullish, that could be a criteria. We could see
321 00:57:00,060 --> 00:57:08,190 this consolidation in here. And it trades down to this level on Wednesday, and there's your Wednesday low the week form and then it goes higher. But you have
322 00:57:08,190 --> 00:57:19,020 to look for evidence as to support those things. You can't reasonably expect that. But in this case going into this week, I would consider it for this one
323 00:57:19,020 --> 00:57:29,520 because it's Monday is a US holiday and Monday May be a quiet trading session, then Tuesday becomes what would normally be a Monday. So if we're going to see a
324 00:57:29,550 --> 00:57:39,180 reversal higher on Euro after going down, it could happen on Wednesday. So have that in your notes going into the new trading week. And we'll see what happens.
325 00:57:40,020 --> 00:57:53,610 And until next time. I will wish you good luck and good trading and we will be moving into next month of June content where we're doing the commodities stocks,
326 00:57:54,180 --> 00:58:05,100 index trading for futures and bond trading. All those four asset classes complement moves that we can pick and predict in the currency markets. And until
327 00:58:05,100 --> 00:58:06,720 then, I wish good luck and good trading