ICT YT - 2017-10-10 - ICT New York Live Session - October 10 2017.srt
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ICT: Morning folks, just real quick, make sure you guys read the disclaimers
here. It's important
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Okay, just give me one more minute or two I got to make sure I can get my time
delay determined. I kind of warned you guys I'd be clumsy the first couple times
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haven't used this medium for a while. The standby minutes minute or two longer
and we'll begin
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Okay folks, come on morning. Welcome to the inner circle trader live session.
This will be a brief one today, simply because I want to make sure I have very
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small, short presentation. And then we'll go into a recap later on today, I'll
post it to YouTube. Okay, first and foremost, I'm only gonna talk about cable.
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And you're probably wondering where that was. Lastly, in my YouTube
presentations, I gave you optimal trade entry examples to study. It's meant to
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get your attention on finding them in price action, without knowing what they
look like in advance, you'll never see them before the fact currently surreal
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real time which is necessary, obviously, unfortunately, for profitable trading
lbmc and not look at it in hindsight. So today, I want to talk about the effects
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of optimal trade entry, I can anticipate optimal trade entry before even forms
in the chart. And I'm going to try to do that in about 30 minutes. So we'll
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break at 815 right now at 7:44am. So I got about 31 minutes or so. Presently,
right now to see you guys know, I'm holding a small portion of the trade on, I'm
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looking for that objective here. And if I can get that there'll be full profit
for me for a day trade. I get a lot of questions, by way of email. I'm not gonna
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be teaching swing trading, am I gonna be doing a position trading? Am I gonna be
teaching options? The only thing I'm promising you live sessions with, and
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working with you until December, so is day trading. If this doesn't fit your
interest, I understand. I'm not here to twist your arm. But that's all I'm going
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to be doing. I'm not teaching mentorship stuff. So got to take what you get.
Okay? I promise, what you get from me is very useful. And it'll help you whether
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you're a long term trader, and not because it can give you really good entry
techniques, regardless of what type of trader you are. Alright, so the first
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thing I want to talk about this morning is the fact that we have the market.
We're trading on Tuesday, generally Tuesdays that really pretty good day, in
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terms of directional bias, and moving one sided. Now, this morning, or
overnight, rather, for me, London was a little bit lethargic, I was wanting to
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see a little bit more energy in it, and hasn't produced it yet. But now we're in
the New York open. Okay, and I'm getting a lot of folks asking for this
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indicator down here, I don't want to promote the idea that you need it, you
don't need it. Okay, they're just little tools. And many of them have been
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created for me by my students. I don't program these things. I couldn't program,
an MT four indicator to save my life to be quite honest with you. But you don't
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need them. Okay. All you need to know is how to bracket them in terms of when
they begin and when they end. And I'll I'll cover that it's not important now
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because it's all on its soils. So the question, I'm sure it's just, why is this
entry here? You know, why that enter here? And maybe not maybe over here, or
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maybe over here? Or maybe even here? Okay, or why not right now? Well, right now
would be a potential scenario for the New York open, looking for a run on the
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overnight highs, okay, but I want to talk about what leads to this entry, why I
felt it was there, and also how to anticipate optimal trade entry because like,
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I gave you a samples last night with Aussie dollar. I gave the examples with the
euro dollar. Now I'm going to give you what I saw that led to this entry here.
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And truth be told I did a recording while this whole thing unfolded, it's going
to be sped up, it'll be part of the recap that I gave you guys on YouTube. It's
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very, very generic. It's not a whole lot of bells and whistles on on the
presentation, because, frankly, I put the trade on and I went to sleep. Okay, I
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didn't worry with it. I let it go on autopilot. So I'm going to teach you a way
where you can not have to be up during London open, because there's a lot of
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folks that get scared when they're like, Okay, I have a job. I can't be up ICT.
I can't do it. You know, but I want to trade it, I see this opportunity, but I
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can't do it. Yes, you can do it. There's no excuse, why can't do it. I'm gonna
teach you one concept
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on how to do it. There's lots of them. And there's lots of different nuances
that goes along with increasing the profitability and probabilities for these
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setups. But that's all mentorship stuff, okay. And I hate to sound like I'm
dangling a carrot. But I want to make sure we're making a very clear distinction
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about what you're learning. And what you're not going to be learning. Okay. The
tutorials that will be populated on this forum, they'll teach you 95% of
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everything that the folks in the mentorship learned that last 5% was just simply
having me point to it, talk about it, and get things I'm not going to talk about
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in public. Okay, so, do you absolutely need that last 5%? In my opinion, I don't
believe you do. But it was made available for folks. So it will not be made
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available in the future. So please don't ask me about the mentorship because
it's not going to be there. Okay. All right. So we're gonna talk about this
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entry here, what leads to future optimal trade entries, how to anticipate them.
Okay, and we're going to go over to another chart, right here. And I'm gonna go
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over how the daily chart is a gold mine. Okay, and you have to understand this
particular timeframe, if there's any one timeframe that I think is the most
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important, it's this one, you want to be able to determine what the banks are
going to be identifying. And you see a lot of folks on YouTube lately, there's,
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everyone knows something about the Forex market. And I don't claim to be an
expert, I don't claim to be the Forex God, I get a lot of folks that say those
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types of things. And I don't really encourage that. Because I make mistakes just
like anybody else. I'm not perfect, I mess it up. And, frankly, you're gonna
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mess it up too. All you need to know is where the probabilities lie with future
setups. And you need to be able to take those setups with no fear, no
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nervousness and just dial in on what it is you're looking for. You find that on
the daily chart. Now, obviously, the daily chart is very slow. And if you're a
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day trader, and you have not learned the view the market like this, it seems
like this is not the type of timeframe you should be working with, you should be
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watching the one minute or five minute chart and that's a problem that's an
error. I mean these same problems and errors when I first started as a trader
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back in the 90s as a commodity trader, but I want you to look at this crude
depiction here. Okay, and we're going to work with this diagram I'm gonna show
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you how I identified the setup and how you can anticipate these things going
forward so that we can go from the live session today and start using it right
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away. So we're going to illustrate here with like, a swing high and a swing high
is any time where we have one individual candle or in this case I'm using open
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high low and close over here so these are called Open high low close I'm using
it to simply to illustrate with a greater clarity what you're looking
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specifically for now it can be illustrated with a candlestick but for teaching
purposes and because this is how I internalize the candlestick anyway, I want
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you to be able to see it like this okay, but understand, it can be viewed in the
same conceptual manner with a candlestick. But we have a high and this is
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representing individual days on a daily chart, okay, this is one particular
trading day, this is another trading day. This is another trading day. Whenever
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we have a swing high, okay, in old days, we call them ring highs before we had
computers we actually draw a little circle around that denoting that was a short
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term high in the market may sell off and have a measurable decline in future
time. When we have this, okay, when we have this swing high, you want to be
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looking at the previous day's lows. Okay, for instance, this one here, we watch
price trade through it and it closes below it. When we have that we know that
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the next day, that same scenario is probably going to repeat itself. So You just
take your attention and focus it on the previous day's low right here. Okay,
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what's going to be residing below that? It's going to be liquidity, okay, it's
going to be new orders, it's going to be traders that want to trade on a
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breakout selling short. All you're doing as a trader is you're trying to
interpret with prices leading you to believe based on market sentiment. Okay,
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market sentiment is what the opinion is about the marketplace right now, does it
have a bullish stance to it or a bearish stance to it. And what you're looking
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for is how to blend that with
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what may be existing in the marketplace in the form of orders. Now, I don't
personally believe that there is a good way to interpret where orders are in the
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Forex except for understanding price action, because you're never going to get
the vast pool of liquidity visible to you, in the sense that like, if you watch
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a futures market, you can look at things and tools that will give you a good
idea where buys and sells and existing orders may be coming into the
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marketplace, which is where market profile and, and depth of market those types
of things. Well, I don't subscribe to the opinion of that. I think they're more
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useful in those types of markets. For forex, forget about it, you're not going
to get it in forex, because you're not, you're not going to be able to see those
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orders coming in. It's too vast of a marketplace. And it's no centralized way of
drawing all those orders in. So we have to internalize where these orders are
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and where they would be residing. And that's going to be above and below daily
highs and lows, in other words below the previous day's low and above the
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previous day's high. So if we have a turning point potentially in place with a
swing high, it means one high, with a lower high to the left of it and lower
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high to the right of it. Once this is seen in price, you already know what you
should be looking for. It's that quick, it's that easy. You should not be
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looking at your charts for 45 minutes and waiting and staring it trying to
determine what it is you're trying to look for. When I look at price, I look at
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it in terms of market structure. And this is the first element of market
structure. I'm gonna teach it today. Okay, it's very simple approach, look for a
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swing high or look for a swing high or low. So right now, as soon as we had this
scenario in price, we'll be looking for orders to be tagged or reached for below
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this particular day's low. Now I'll give you an example what that would look
like. You have a candle here or a daily bar, these little tiny little ones here,
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these are Sundays, we're going to try to forget them this platform, or this demo
includes Sundays, I wish it didn't, but it is. So we have a high here that's
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lower than this one. And then the next candle or bar is here. So this is a swing
high. So the orders are going to be below this particular day's low. So as a
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trader, we would look for the market to want to read below that low and it does
that right here. Okay. And as long as we do not move back above the swing high
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or a lower swing high, which this becomes another swing high. One high, lower,
high, lower, high, but notice how each low keeps getting tagged below the
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previous day's low. This is the big beginning and building blocks of
understanding daily bias. Man, if I could tell you one question comes by way of
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email all the time is if you could just tell me how to know what data is going
to go up or down? What's the direction? I could use your tools and make money?
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Well, you wouldn't. Okay, because there's so many other things to it. You think
that's what it's all it's necessary, but it's not. Okay, price will teach you to
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chase things that really aren't there. So I'm giving you basic framework here.
It's a very simple concept, do not discount this, because I'm telling you, I use
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this almost every single trading day. And I'm showing you look how many times
they're set up there. Now, I'm not talking that in hindsight, I'm not putting
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lines on the chart and moving them around, you're seeing the actual orders in
you're seeing the results of the orders, you're seeing the timestamps on the
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orders, it's there, just like that. Okay, you can see that, okay, so the bottom
line is, you need to know where the market is going to be drawn to. Okay, so
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when we have a swing high, we want to look for the lows to be taken and reached
for we have another swing high here. Okay, when that candle or daily bar
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finishes, the next day, we're gonna be looking for price to reach below that as
well. It does that. Okay, irrespective to where the opens. I don't care about
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that for right now. I just know that the market is going to be drawn to the
previous day's low and go below it to some degree. I'm not teaching you how far
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it's gonna go. I'm only telling you to look there. Okay. So now, what do you
think it is, in terms of reversing that scenario? Well, it's just how easy If
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you have a swing low, okay, that's going to be in the form of a daily candle or
bar that has higher lows on either side of it.
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Okay, so we have a daily candle or bar, another lower one, and then a higher
one. So we have one day that has a higher low to the left and a higher low to
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the right. This is a ring low or swing low. Okay. We don't call them ring ones
anymore. But it's traditionally called now a swing high swing low, this is a
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swing low. When we have this, the market is going to want to seek the liquidity
resting the previous day, it's high. Once it's seen here, right here, I don't
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care where it closes. Okay, I'm looking for this pattern, a low with a higher
low to the right and a higher low to the left. When I know this I Amelie draw my
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attention to the day before is high, there's a strong likelihood that the banks
will probe that area for liquidity. I don't care if it only goes up 40 pips and
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then fails and goes lower. I don't care about that. Because if I can get 60 pips
from my entry to a 40 pit run above the previous day's high, that's enough for
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me to profit. And that's all you need as well. You may not want to be a day
trader, you may not like the idea of a day trader. But that's the most frequent
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setup. It's always there every single trading day there to trade every single
time. Now, I'm not telling you this, as new traders, if you're listening to
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entice you to try to do this every single day, I'm just telling you, I've been
doing this for 24 years now, I can read price, I can see things that you won't
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be able to see without a long period of study. My hopes are that you'll see that
there's an opportunity there to be looked at and studied at least a handful of
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examples over a course of a month. You can carve out a career just doing that.
And using alerts on a an app that goes along with your trading platform and live
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demo accounts can set up alert systems and like send you a text message. When at
particular levels hit that way you can go in and start looking for it. On the
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optimal trade entry primer video, I gave you how to look for a higher timeframe
level wait for market structure break or short term high when it's bullish, and
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then wait for that retracement to catch by reversing it for selling short when
you have a hard timeframe resistance level wait for price to break the short
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term low. That's a market structure break on the downside. Wait for the
retracement sell short, okay? Very simple, very, very generic. Now by itself,
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you can get in a lot of trouble with it. Okay, because you have to understand
some things. This is what you need to see. To help you along with that basis.
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That original concept of market structure retracement, look for expansion, what
I gave you in an optimal trade entry primer video, this is the missing piece
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that you need for bias. Notice that it's not moving averages. It's not all kinds
of indicators. It's simply reading raw price action. There's so many things out
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there that's going to try to get your attention and try to draw you away from
looking at just this simple concept. There's four things you need to worry about
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the opening price, the high, the low, and the closing price of any timeframe
you're looking at what timeframes are most important, the one you're staring at
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right now with me daily? Now, if we know that this is what most likely is going
to occur on the banking horizon, in other words,
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what the banks are focused on where do they want to take price? This is what
they do. Now, I'm not here to get an arm wrestling match. You can go on Twitter
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and arm wrestle me and tell me you know, I don't know I'm talking about but
look, you haven't been where I came from. And I know this stuff like the back of
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my hand. And if it isn't true, then how am I able to do it? Because it's not
indicators. It's doing it. So all I'm asking is if you're on the fence about it
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or about me, just look at the information and you make a decision on that. Okay,
who cares about me, it's not about me. Okay. So now we have this pattern right
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here. The swing low. Well, we have a candle or daily bar here, with its low
here. The next day, it's here, which is last Friday. And then we had the Sunday
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candle. So you got this this the Sunday candle like pretend it's not there. If
you can get a demo account that has the dollar index and doesn't have Sunday
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candles, man, you got to go mine. That's wonderful because I wish I could get
Sunday candle out of this particular demo. But the next candle has a higher low
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here. So we have a low, higher low and a higher low. So what is this? A swing
low. So now what we're doing is if we're looking for the liquidity above the
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previous day's high, that's yesterday's Hi, that's right here. So the high comes
in at 131 87. So I know that there's a strong likelihood that the market's going
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to want to probe above that previous day's high. Why? Because the banks are
going to want to offset their buying because they bought down here. How do I
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know that because price moved, price moves to allow deep pocket entities to be
able to do those types of things. Now, again, this is not an invitation for you
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to argue with me, okay? This is my personal belief, you're never going to
convince me otherwise, you don't need to subscribe to that view, if you want to
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look at this as something entirely different. Go right ahead. I'm not going to
try to change your mind about it, okay. But the market will look to go above
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that previous day's high and again, the price level is 131 87. Okay. So now
we're going to go back over to the concept of power three, that means that we
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want to be near the opening price, at the opening price, or below the opening
price. Okay, if we're going to be long, we want to be getting as close as we can
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to the opening price. At the beginning of day, which is zero GMT, or in this
case, it's 8pm, New York time for me on the East Coast of the United States and
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then or at midnight, and this is all in the tutorials is nothing mentorship here
it is very generic stuff. You saw me do this for years and years, on baby pips,
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and on my YouTube channel. So we're going to go back over to the intraday chart
here. And I'm going to bring in the Asian range. Okay, so we have the Asian
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range. Yesterday's, or last night's eight o'clock starting, which is there GMT
for me, in this platform, and this is the high for the Asian range, and this is
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the low the Asian range. Now, if you can't be up for London, no problem. If you
get your entry inside of the Asian range, if you haven't bias what's the bias?
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The markets want to go? One two most likely go above the previous day's high.
Okay, previous day's high.
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Okay, is right in here. Here's previous day's high. And we know that there's
going to be liquidity resting rate above that high. What is that to only buy
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stocks? Okay, why is it buy stocks because someone sold short, they're so easy.
That is very easy. So what we're doing is we're seeing Okay, there's going to be
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a target on those individuals that had made money here. That's all this
businesses folks, it's about taking from the next guy or gal. So inside the
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Asian range, I knew that there was a strong probability that this liquidity
would be targeted. I wanted to be long, I didn't want to be up for it because I
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knew I had to be here with you guys. Not that that's not a good thing. It's just
I'm tired. So I don't want to be up. So I'm pulling a lazy man's approach last
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night and I just went in during the Asian range. And right after I got my bias
confirmed, that looked at the market around 1230 or so. Which is my daily
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routine. And I knew that I wanted to be long I put a reasonable stop loss in
okay and price did exactly as Island expected to do target the liquidity resting
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above here. Now, as a go to rule of thumb, I teach that 10 pips and 20 pips is
the usual grade of sweeping above or below a previous day's high. Okay. And
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we're going to look at that real quick. Here, here's the high and low, give you
two scales 10 pips off that high. Okay, there's 10
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and 23. There. Okay. And you'll see over time, I'm not trying to convince you of
it just today. But anyone that's gone through my tutorials, will know this is
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something I teach in those. And it's not just cherry picking and form fitting
for the approach that's been shown to you today. So here's 20 pips really,
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really close and it might not be done for today. It might it might go one more
time through it, but look how close it takes you and now again, these are just
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ballpark figures to reach for above the previous day's high 10 pips 20 pips?
Because price moves on an algorithmic basis. Okay. It's not what you think that
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makes price move. And as we talk more over the next coming weeks, I'll give you
some more insights about that, but not everything, but certainly enough to make
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you dangerous in the marketplace. Okay, so we have two grades of targeting, how
far do I think the markets gonna go? That's the same rule that's been there
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since it's a tutorial and here it is today. Almost true to form You can't get
any closer than that without actually hitting the level. Look at that. I mean,
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it's just literally almost right there. I always try to exit early. My weak
point as a trader is my exits, I cannot perfect that enough, and I don't think
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I'll ever be perfect, okay, it's just gonna be a pursuit, it never is satisfied.
Now, I want you to look at this price action and see what you see in terms of
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what I taught for optimal trade entry. If we look at price, and add the fib,
obviously says on a five minute basis, but nonetheless, it'll still accomplish
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the method. bodies of the candles up to the highest portion of price on this
price like here, so to this close, in this open price comes down optimal trade
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entry. This is the London open kill zone. Okay, as I define it says price hits
that if you were up at London, that's what you would be doing again during one
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long, okay, price would then responds well expands and What's it do it reaches
for 10 pips above looking at the sweet, just a little bit about the 10th grade
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swing, and then retraces back down to previous day's high, gathers more orders,
expands again and just fall short of the 20 pips swing that is outlined. Okay,
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so I believe that we're probably going to see another leg higher intraday today.
And if we do, we'll be looking for a little bit deeper run on liquidity higher
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than that, and I got it in the form of this exit point here. Okay, so let me see
one time. Yeah, the take profit is at 132 23. Okay, so that's the level I'm
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looking for. Really 132 20. I like that idea. I'm just trying to get that three
pips above it. If I get it great, but don't most of my positions already off.
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Because I don't know if I'm going to be right. So I take partial profits,
because I want my bottom line to increase. So I teach this in a demo account,
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because if you don't pay yourself, no one's going to do it for you brokers not
going to do a favor for you and say, Well, you know, she's been trying really
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hard last couple of weeks, and this is give her you know, a bonus, let's take
her out of the group profit wax, if they're not going to do that for you, folks,
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it's just not going to do it. So you have to have ways of doing that. And if you
look, again, let me put that back up here real quick. This is on a five minute
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basis, we're going to drop back out to a 15 minute basis, this is what I would
use for my optimal trade entry projections. Zoom in time. And
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bodies of the candles. Right there. There's a symmetrical price swing, I'm
trying to get out early. But I woke up this morning, and you'll see the
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recording, it comes to life. Right about here, I just stop loss. And I take out
a portion of the profits. And that took another portion off here as well. So
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it's here and here and have a small portion still remaining in the trade. And
that takes us up to there. If it goes beyond that, I don't care. I don't care
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about that. As a day trader, I'm looking to take surgical strikes, get my pound
of flesh and move to the sidelines. Okay. But main thing I want you to have as a
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takeaway is I want you to go through price action and find on a daily chart
every time there's a swing high forming, how it targets the previous day's lows.
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Okay. And when we have swing lows, I want to study how the market seeks to
liquidity above the previous day's highs. Okay, and start doing that. Not just
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in one pair, and not just in forex, look at it in stocks, look at it in bonds.
and dare I say it because I don't know anything about it. Bitcoin. It's always
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there. market makers use the same business model, it's always the same stuff. So
if you understand that the markets move on the basis of seeking liquidity
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drawing in traders on the wrong side of the marketplace, or knocking them out to
take their position over. That's what a market makers role is. they facilitate
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that requirement for smart money. They themselves aren't smart money. There's a
lot of talk about what market makers are doing. And market makers do this and
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don't do that. They are a facilitator. They allow Smart Money entities to
position and move in and out of the marketplace. Okay, I'm not gonna say
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anything more than that. But long and short is, you've been given something very
precise today. A very user friendly approach. It's not complicated. And if it's
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gone over your head, just watch the video in the recording when it goes on the
YouTube it'll automatically compile and be there. But I promise you if you study
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price action on daily chart look for this. You will see every single trading day
there's something there so if you subscribe to some other group, or mentorship
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or some program, you can cancel that now. And now I've given you a complete
life's career and approach to finding setups every single trading day. You want
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to make 2530 pips couple times a week, this is how you do it, you will make 100
pips a week, this is how you do it. If you want to just consistently find
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setups, this is how it's done. It repeats itself almost on a day by day basis.
And the only times it doesn't work is when you get an inside day, an inside day
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isn't see if I finally here's one here, the day's high and low. Do the low was
higher than the previous day's low in the day's high is lower than the previous
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day's high. That's the only time you're not going to find profits or
opportunity. So what how many times is going to get inside date back to back to
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back, it doesn't happen a whole lot. But one good thing is, is when you do get
inside day, you're going to see the volatility expansion, which means it's gonna
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be a big day. That means it's gonna be a big day like here, see, next very day,
it's big range. So if we're gonna be seeking liquidity below the lows, don't
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anticipate just a little bit of run, anticipate a big run. And now you just
found out how to make explosive moves in price action, or at least find him now.
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So hopefully you found this one insightful folks. I'm going to close this one
out, catch up with you guys later on real quick, quick short recap video. And
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I'll be back with you guys tomorrow around 730 but a little bit longer session.
Till then I wish you good luck and good trading.