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--ICT: Good morning, folks, just take a look at this disclaimer, it's important
--reminding you that what I'm saying is just my opinion, don't believe what I say.
++(% class="hover min" %)
++|1 |00:01:11,790 ~-~-> 00:01:23,340 |ICT: Good morning, folks, just take a look at this disclaimer, it's important reminding you that what I'm saying is just my opinion, don't believe what I say.
++|2 |00:01:34,019 ~-~-> 00:01:47,939 |Okay, we are looking at the Australian dollar. And on the left hand side is a daily chart. And on the right hand side, it's the 15 minute timeframe. And a few
++|3 |00:01:47,939 ~-~-> 00:02:04,859 |days ago, I gave you a optimal trade entry, pattern recognition video for your learning, you guys can use that for your practicing seeing it, watching it
++|4 |00:02:04,859 ~-~-> 00:02:14,519 |quickly, very short span of time and price action. That way, you can see what the pattern looks like over and over and over again, only by doing that, or by
++|5 |00:02:14,519 ~-~-> 00:02:23,789 |making your own charts every day and putting them into like a journal screen capturing the chart, okay. And as soon as you think you see the optimal trade
++|6 |00:02:23,789 ~-~-> 00:02:33,119 |entry, screen, capture that and then watch it pan out. It may or may not be there, okay, but over time, your ability to be able to see it will improve. Now
++|7 |00:02:33,149 ~-~-> 00:02:44,159 |today I want to talk about selecting precision price objectives. In other words, where the price may go. Okay, so we've talked about how to get a daily bias real
++|8 |00:02:44,159 ~-~-> 00:02:53,399 |quick. I'll review that set later things kind of like, you know form as we go through each video is not a plethora of things to know. But there's a lot of
++|9 |00:02:53,399 ~-~-> 00:03:03,959 |things to learn. But for trading, practicing in your demo account, there are certain things that I think is beneficial to students of mine. Even if you don't
++|10 |00:03:04,439 ~-~-> 00:03:15,029 |really pursue everything that's in my curriculum or tutelage, I promise you, there's always something out of the 20 some plus years I've been doing this,
++|11 |00:03:15,419 ~-~-> 00:03:23,729 |invariably I find, even at seasoned traders, will send me feedback and say, hey, look, you know, that was really interesting, that's really filled in a gap in my
++|12 |00:03:23,729 ~-~-> 00:03:32,789 |understanding, or it's done wonders for my results. And that's great. I appreciate that feedback. But today, we're looking at the Australian dollar, and
++|13 |00:03:32,789 ~-~-> 00:03:44,819 |then I'll kind of recap with the British pound. So for teaching purposes, we're going to start off on the daily. Okay, and I want to bring your attention to
++|14 |00:03:45,719 ~-~-> 00:03:56,729 |this little candle right here. Okay. And the first thing we look at is, are we working off of a swing, swing high or swing low. Now, currently, if you look at
++|15 |00:03:56,729 ~-~-> 00:04:05,819 |this candle here, this one would probably throw up throw most of you off that aren't really simply looking at the pattern as a generic formula where it's a
++|16 |00:04:05,819 ~-~-> 00:04:15,749 |candle that has a higher low on either side of it. That's a swing low as it really is it relates to this one here, we have a low on this candle here. We
++|17 |00:04:15,749 ~-~-> 00:04:25,289 |have a lower low, then we have a higher low, skipping the candle right here. Why am I skipping that? Well, it's because it's a Sunday candle. Okay, so this
++|18 |00:04:25,289 ~-~-> 00:04:33,479 |candle here, kind of like this. disregarded, dismissed it don't think it's there at all. If you have a platform doesn't have Sunday candles, you are at an
++|19 |00:04:33,509 ~-~-> 00:04:42,839 |advantage because I'm teaching through a forex Ltd demo. So the price action you're seeing here is directly related to the fee they provide and admittedly
++|20 |00:04:42,989 ~-~-> 00:04:54,359 |the last couple of weeks. They've had some hiccups in their data. So take it for what it is. Okay, I just use it because it has $1 index and dollar index in my
++|21 |00:04:54,359 ~-~-> 00:05:04,349 |opinion is important when we do analysis but if we disregard this candle right here, we have the past Which is the swing low, we have a lower low here than the
++|22 |00:05:04,379 ~-~-> 00:05:18,269 |candle before and the candle after it. Okay? Once we have that our thought process is to look for price to want to target runs on liquidity above the
++|23 |00:05:18,269 ~-~-> 00:05:29,999 |previous day's high. It's just that simple. Okay? I'm not going to be teaching if the, which is the interbank price delivery algorithm. It's a unique thing in
++|24 |00:05:29,999 ~-~-> 00:05:38,399 |my repertoire, my curriculum, my teachings, it no one else talks about nine books or anything like that. And I'm not teaching you every facet to it, because
++|25 |00:05:38,399 ~-~-> 00:05:45,719 |that was in my mentorship stuff. So those folks are the only ones I'm gonna share it with me No, and I'm not teaching anymore, but I will give you a very
++|26 |00:05:45,719 ~-~-> 00:05:55,379 |simple approach, and a very foundational approach on how you can look for setups. And we've already done so by teaching this kind of rehashing it here. So
++|27 |00:05:55,379 ~-~-> 00:06:00,479 |that way, it's in one video, it's uniform. So you can see everything in one short little video.
++|28 |00:06:01,740 ~-~-> 00:06:11,340 |So we have a swing low. And then the expectation is is the algorithm that the price engines use for delivering price to all of our feeds. Now, there's going
++|29 |00:06:11,340 ~-~-> 00:06:19,620 |to be a slight skew in what price we see and what is actually on the interbank level. I'm not going to get into that, just understand that there's always going
++|30 |00:06:19,620 ~-~-> 00:06:26,670 |to be some slight variance between what you're using to trade with and what I'm showing, okay, everyone's broker is going to have a slightly different quote,
++|31 |00:06:26,670 ~-~-> 00:06:33,960 |high quote low. It goes along with the territory, you sign it in the risk disclosure saying that you are willing to work within those guidelines and it's
++|32 |00:06:33,960 ~-~-> 00:06:43,230 |legal, sorry, hate to say it, but you give them permission to do so. So the high we're gonna start targeting and looking for moves above the previous day's high
++|33 |00:06:43,230 ~-~-> 00:06:53,340 |so once this candle closes, we have a swing low. Okay, disregard this candle right here. Okay. Now the next day, we're gonna be looking for price to trade
++|34 |00:06:53,340 ~-~-> 00:07:02,820 |above this candle is high, it does so. Okay. Now the next day, we're going to look for the same phenomenon to take place we're going to look for the previous
++|35 |00:07:02,820 ~-~-> 00:07:11,550 |day's high to be traded through. Okay, we open. I'm not talking about power three today, I'm not doing anything like that. But we're looking for an eventual
++|36 |00:07:11,550 ~-~-> 00:07:23,730 |run above the previous day's high. This is foundational for directional bias for day trading. Now, I'm only focusing this project if you want to call it on day
++|37 |00:07:23,730 ~-~-> 00:07:32,250 |trading only I'm not teaching is swing trading. I'm not teaching you position trading like that. This is all just day trading information. You can see price
++|38 |00:07:32,250 ~-~-> 00:07:41,670 |runs through that. previous day's high. Okay, the same drove the next day. Nothing's changed. We're waiting to see a eventual run through the previous
++|39 |00:07:41,670 ~-~-> 00:07:54,000 |day's high. It does that. Now is it giving you the low of the day to get in? No, that's not its function. It's not its purpose. This concepts responsibility
++|40 |00:07:54,000 ~-~-> 00:08:06,960 |really is just to give you Where is price most likely not panacea not be all end all. Not an absolution most likely going to direction higher low. Well, we know
++|41 |00:08:06,960 ~-~-> 00:08:14,310 |we're refocusing on the market wanting to go above the previous day's high. So that gives us a directional bias on the day. Now there's going to be
++|42 |00:08:14,310 ~-~-> 00:08:23,250 |fluctuations intraday, and I'm sure 30 different scalpers out there will say, well, you had this wrong because I took 12 pips going short on this, that's,
++|43 |00:08:23,280 ~-~-> 00:08:30,810 |that's up to you to think that way. And I'm not going to try to say what you're doing is wrong. If it's working for you, great. I'm just sharing my
++|44 |00:08:30,810 ~-~-> 00:08:39,330 |internalization of what price action means to me. And I leave it all to you whether you think it's valuable or not. Okay, I really don't care to know, if
++|45 |00:08:39,390 ~-~-> 00:08:46,890 |you think what I'm doing is good or bad. I just want to know how you're using it. Okay, and give me that feedback. That's the only thing I care about. So
++|46 |00:08:46,890 ~-~-> 00:08:56,460 |we're going to use this information and translate that into what we see on the 15 minute timeframe on the Ozzy. Now, again, I'm going to refer you back to the
++|47 |00:08:56,550 ~-~-> 00:09:06,330 |optimal trade entry pattern recognition video. I did for Aussie dollar, it's in the title, so you can see it on my YouTube channel. But we talked about this
++|48 |00:09:06,330 ~-~-> 00:09:21,360 |high here and this low right here. Okay, this framework right here, this break in that range, this low to high once it was broken right here. Okay, once price
++|49 |00:09:21,360 ~-~-> 00:09:34,470 |traded to that point here, that gives us an inclination that maybe perhaps, the market may want to trade higher. If it does, then this phenomenon I just
++|50 |00:09:34,470 ~-~-> 00:09:44,910 |outlined on the daily chart should manifest itself in price action. If it doesn't, then there's no trade or you'll suffer a loss. There's nothing wrong
++|51 |00:09:44,910 ~-~-> 00:09:53,880 |with that. yesterday's show, there's no reason to be fearful of taking a loss. Your methods still going to work. If you have a sound method, and you just have
++|52 |00:09:53,880 ~-~-> 00:10:02,640 |to execute and keep risk small and don't let the demons of price action and trading and speculation Overcoming worry you don't let it scare you out to take
++|53 |00:10:02,670 ~-~-> 00:10:17,760 |the next trade, but don't over trade too. There's a lot of balancing act in it. So we're going to look at this high rate here, and we get this little trend line
++|54 |00:10:17,760 ~-~-> 00:10:33,060 |thing here. So when we see this right here, this gets us on the watch list of determining whether or not this whole effect is going to manifest itself. Okay,
++|55 |00:10:33,060 ~-~-> 00:10:43,470 |now we're looking for reasons to suspect the directional bias should start panning out for upward momentum, seeking liquidity above the previous day's
++|56 |00:10:43,680 ~-~-> 00:10:55,350 |trading high, or daily high. So we have the short term high broken, right here. So now what we want to do is apply our Fibonacci, not to Fibonacci is the answer
++|57 |00:10:55,350 ~-~-> 00:11:02,310 |to anything. But it helps as a crutch for new traders, to see areas of valuation.
++|58 |00:11:05,400 ~-~-> 00:11:14,400 |And I taught you to use the bodies of the candles, not the wicks, because that's where everyone's price action is going to be different. So I focus primarily on
++|59 |00:11:14,640 ~-~-> 00:11:25,320 |the bulk of the volume being inside the body of the candle. Okay, that's the reason why I'm choosing to do that. So we have this model here, okay, this whole
++|60 |00:11:25,320 ~-~-> 00:11:35,100 |framework of price swing, this is an impulse price swing, or impulse price leg interchangeable terms. When price trades back down to the 62% retracement level,
++|61 |00:11:35,550 ~-~-> 00:11:48,180 |70.5 level, or 79% level, that gives us an area to anticipate potential buying opportunities. So we have buys down here likely to form and obviously you have
++|62 |00:11:48,180 ~-~-> 00:11:56,880 |the benefit of hindsight here. But we have targets of target one, we have the old high, which is your first scale out. This is where you take your first
++|63 |00:11:56,880 ~-~-> 00:12:09,600 |scaling and adjust your stop to reduce risk. Then here's your next target here, target one didn't target two, and then it's a symmetrical price swing. Okay. As
++|64 |00:12:09,600 ~-~-> 00:12:20,520 |price unfolds, reaching for previous day's high and the seeking liquidity above each respective previous day's high, each time it does that you need to be
++|65 |00:12:20,520 ~-~-> 00:12:30,270 |looking to take profits, because at some point, this whole dynamic over here on the daily could potentially change. So you always have to be mindful of, for
++|66 |00:12:30,270 ~-~-> 00:12:39,750 |instance, if we have a day, for instance, tomorrow, say we have a day that creates a lower high. Well, that changes the whole directional bias now, doesn't
++|67 |00:12:39,750 ~-~-> 00:12:48,390 |it, we would switch gears and start looking for reasons to see a run on the previous day's low for the liquidity resting below that. So it gives us a
++|68 |00:12:48,390 ~-~-> 00:12:55,470 |framework at some point, we are potentially going to be wrong. Like anything else in trading, you're going to have a losing trade, you're going to have a
++|69 |00:12:55,470 ~-~-> 00:13:04,530 |series of losing trades. And you can't fight that. If you try to do that it's going to mess you up. This simply follow the rules, be willing to take a loss
++|70 |00:13:04,530 ~-~-> 00:13:12,090 |because the loss will give you insight, it just means you're paying a premium for that valuable information. Something has changed internally. Especially if
++|71 |00:13:12,090 ~-~-> 00:13:19,980 |you see a day that has a lower high. Now you have a swing high. And then you'd look for reasons to start looking for price breaking down below the previous
++|72 |00:13:19,980 ~-~-> 00:13:28,110 |day's low. Now if it doesn't do that, after the formation of the daily swing high, then we may be consolidating or it could be just a retracement to go
++|73 |00:13:28,110 ~-~-> 00:13:36,270 |higher again. And once we take out the swing high it formed, its high. And everything resumes back in this model where we start looking for runs on
++|74 |00:13:36,270 ~-~-> 00:13:48,900 |previous day's highs or old highs, which would be the case over here. Okay, real simple way of approaching building daily bias. It's it closest thing I can give
++|75 |00:13:48,900 ~-~-> 00:13:57,660 |you that can be written on the back of a business card that is so good. It blows the doors off of most retail stuff. Okay, cuz it gives you a real quick way of
++|76 |00:13:57,660 ~-~-> 00:14:04,950 |internalizing from an institutional standpoint where liquidity is and how this how to determine what side of the marketplace it's going to target. Alright, so
++|77 |00:14:04,950 ~-~-> 00:14:17,430 |now I'm going to maximize this chart over here. Okay, and you can see this is the chart that we shared on that video. And we've just fallen short of target to
++|78 |00:14:17,970 ~-~-> 00:14:28,260 |over here and started having a deep retracement. It does not mean that the model on the daily chart when it does this, that the daily model or what we're looking
++|79 |00:14:28,260 ~-~-> 00:14:38,700 |for for daily bias going higher. This doesn't change that. Okay, what we had is we had a consolidation rally up target to didn't get hit no problem. We have a
++|80 |00:14:38,910 ~-~-> 00:14:54,330 |retracement and it sells off again. I want you to look at this portion of price action right in here. If we're bullish, as we were indicating on the daily
++|81 |00:14:54,330 ~-~-> 00:15:15,660 |chart, change the color this rectangle and see If we have, let's go with this. And it's not like that's a good background. Alright, so inside this whole
++|82 |00:15:15,660 ~-~-> 00:15:26,910 |consolidation, we had one run above these highs, got people trapped, chasing long zone breakouts. Okay, now we're trading if you've watched technical
++|83 |00:15:26,910 ~-~-> 00:15:36,060 |analysis, videos on YouTube or read books, they'll teach us as a bull flag, it rallies up consolidates starts to run higher, it's probably going to do the same
++|84 |00:15:36,060 ~-~-> 00:15:44,460 |move from this low, up to the high added to the low and projected up, they got burned there. Okay, that's why I'm not a real big fan of traditional
++|85 |00:15:44,760 ~-~-> 00:15:52,620 |technical analysis, because they're used many times to manipulate the thought processes or build sentiment many times is the incorrect perception of what
++|86 |00:15:52,620 ~-~-> 00:16:01,920 |price is most likely going to do. So we have a consolidation, we have a false move here or break above old highs, they sell off of that, and they run back
++|87 |00:16:01,920 ~-~-> 00:16:11,520 |down below what side of the marketplace below the consolidation lows. That's right here. Now, if we have the understanding, or expectation that the daily
++|88 |00:16:11,520 ~-~-> 00:16:21,390 |chart is predisposed to move higher, each trading day looking for its respective previous day's high to be taken out, we have a bias, that means it's most likely
++|89 |00:16:21,390 ~-~-> 00:16:33,270 |going to go higher. So anytime we drop down, our thought process should be switching to Okay, it's probably going down to knock out week bulls or trip in
++|90 |00:16:33,990 ~-~-> 00:16:42,570 |rushing bears, folks that want to get in on a break below these lows. Okay, if you look at indicators in here, and I'll just throw one up here, just for the
++|91 |00:16:43,170 ~-~-> 00:16:53,310 |amusement of it, from using these highs to this high here, momentum indicators, this is really big on Facebook and folks that use that kind of stuff, to
++|92 |00:16:53,310 ~-~-> 00:17:04,740 |convince their spectators that they have a bead on what price is doing, you're gonna see a divergence in here. And what is used as a good setup. All right, we
++|93 |00:17:04,740 ~-~-> 00:17:19,530 |have here and higher here is slightly lower high here. But even on this run to this candle failure. If we use a percent, it's slightly different. Let's do this
++|94 |00:17:21,840 ~-~-> 00:17:36,690 |14% I'm sorry, 14 k period, and will smooth with that's that's good. But that anytime price comes down below old lows. If you want to use a momentum indicator
++|95 |00:17:36,720 ~-~-> 00:17:45,930 |that means like stochastic I like stochastic RSI I can't stand it. MACD is so smooth, unless you're using it for long, long, long term position trading. I
++|96 |00:17:45,930 ~-~-> 00:17:56,130 |don't think it's beneficial either unless you use the histogram. And again, I'm not trying to teach indicators. But I would be very safe in betting that the new
++|97 |00:17:56,130 ~-~-> 00:18:05,550 |crowd that has just started following me uses things like this on our charts, okay, and then looking for overbought, oversold. If you blend what I'm going to
++|98 |00:18:05,550 ~-~-> 00:18:13,140 |show you here, you're going to see that the indicators work then. And that's the times when we see them in textbooks, when they work in a it's favorable to have
++|99 |00:18:13,140 ~-~-> 00:18:20,220 |been a follower of that perception. That's what tricks people. That's what tricked me when I first started trading, but it doesn't give you the context of
++|100 |00:18:20,220 ~-~-> 00:18:27,660 |when to use the indicator. And they'll they'll tell you when the moving averages are going up. It's a bull market. So there look for the bullish divergence.
++|101 |00:18:27,930 ~-~-> 00:18:38,610 |Well, sometimes that works, sometimes it doesn't. So if we know what we're looking for in terms of how the market will reach for liquidity, as I defined on
++|102 |00:18:38,610 ~-~-> 00:18:47,310 |a daily chart, we know that that's what we should be focusing on any other retracements of any kind, until it changes the tune or storyline, it's on a
++|103 |00:18:47,310 ~-~-> 00:18:57,330 |daily chart. Everything going down on the lower timeframes is simply new buying opportunities. It's going down the screw up the mindsets of those individuals
++|104 |00:18:57,330 ~-~-> 00:19:06,120 |watching one in five minute charts, because if they see moves like this, they're gonna think right away, it's going lower. So therefore be short. And traders
++|105 |00:19:06,120 ~-~-> 00:19:14,790 |that want a lot of confirmation behind their ideas. They will have cell stops triggered right below here because they don't trust what what's going on. They
++|106 |00:19:14,790 ~-~-> 00:19:24,750 |just want to follow the rushing tide. So if price starts to break down as it does below here, they're short. Well, they see a momentary profitability. I'll
++|107 |00:19:24,750 ~-~-> 00:19:31,350 |say it like that, quote unquote. But right away, it's taken away from them and snatched and drunk against them
++|108 |00:19:31,590 ~-~-> 00:19:42,870 |in another direction. This whole move here was not by coincidence, it's not by you randomness and it also comes by way of a bullish divergence. There's where
++|109 |00:19:42,870 ~-~-> 00:19:53,190 |your bullish divergence works. In momentum indicators were extremely oversold, and we're below old lows. Okay, so what I'm actually giving you is a perception
++|110 |00:19:53,220 ~-~-> 00:20:05,760 |on where price will go to a point to take out long holders Nothing if they were lucky enough to buy over here, they've held through this whole period of time.
++|111 |00:20:06,120 ~-~-> 00:20:15,000 |And they watched it drop down to right where their stop loss would have been because the textbooks teach. This is a double bottom. So as price ran up, where
++|112 |00:20:15,000 ~-~-> 00:20:25,950 |would they place their stop loss on their long position, right below there. So when we see drops, or declines against the higher timeframe daily chart that is
++|113 |00:20:26,190 ~-~-> 00:20:35,610 |giving us clues that it's most likely going to go higher than the previous day's high. Anytime we drop down below old lows, that's most likely a stop run. And
++|114 |00:20:35,610 ~-~-> 00:20:45,210 |you can anticipate that and if you haven't taken a position yet, you can buy just on the basis of that alone. So I'm giving you a little bit of blending on
++|115 |00:20:45,210 ~-~-> 00:20:56,370 |how you can use the retail crutches that are available, but using the right concepts and in time using proper context. So we're going to take this nonsense
++|116 |00:20:56,370 ~-~-> 00:21:08,490 |off. Okay, go right back to price action. So now we had this consolidation, false run above and then make a run on long holders. Notice how after they've
++|117 |00:21:08,490 ~-~-> 00:21:18,240 |taken the stop losses away, and out of the hands of the long holders that were maybe from over here, maybe someone got lucky and bought it down here? I don't
++|118 |00:21:18,240 ~-~-> 00:21:25,440 |know. I don't care to know. All I know is is when it has equal lows like this and the market is predisposed to go higher. That's going to be what I call
++|119 |00:21:25,440 ~-~-> 00:21:34,950 |Candyland. Okay, they're going to go down here and take those stops away from them. Imagine you want to get somewhere. Okay, and the bus is full. But your big
++|120 |00:21:34,950 ~-~-> 00:21:42,990 |strong guy, okay, you're a bully. You can go on that bus, snatch my other seat, throw them onto the street and then take their seat over? Well, that's what the
++|121 |00:21:42,990 ~-~-> 00:21:52,350 |market makers do. You had your seat on the bus, you've been getting closer to your destination, you get real close to the destination, Oh, we got a detour
++|122 |00:21:52,440 ~-~-> 00:21:59,370 |can't go any further. Okay, we come back down here, when we get to this point here, start to go a little bit higher, you feel you're getting somewhere. Now we
++|123 |00:21:59,370 ~-~-> 00:22:06,150 |go another detour in the bad section of the neighborhood. Okay, and the guy comes in, knocks off the bus and takes your seat and then ultimately goes where
++|124 |00:22:06,150 ~-~-> 00:22:13,680 |you want to go, ultimately, but you can't get there. So you've given up profit, and you've given up your seat on the bus and you never got to the destination
++|125 |00:22:13,680 ~-~-> 00:22:22,380 |you were intended to go. So that's the storyline I teach kind of like what my kids that make it palatable. So you can see it a little bit in price because
++|126 |00:22:22,680 ~-~-> 00:22:30,570 |looking at it like this, it's abstract. But when you apply things to understand why the price is doing it, the mechanics behind it, that's what it is. Okay,
++|127 |00:22:30,960 ~-~-> 00:22:46,200 |now, if we see these things happening, okay, I given you the body to body measurements for fit, and the targets being first profit, scaling, target one,
++|128 |00:22:46,380 ~-~-> 00:22:58,050 |target two, and symmetrical price swing. Okay, I'm going to apply a little bit more information to save some time, but that did a little bit more jawboning
++|129 |00:22:58,050 ~-~-> 00:23:14,910 |today than I wanted to. And I want to go back out to that same information just with all of the kill zones and such applied. So now we're gonna go back in and
++|130 |00:23:14,910 ~-~-> 00:23:18,420 |apply the fib real quick, doesn't take long to do it.
++|131 |00:23:31,290 ~-~-> 00:23:50,370 |Well, Michael, here we are. You fix this real quick while I'm thinking about it, all right. So in the bodies, low and up to the body here. Okay, so we have that
++|132 |00:23:50,370 ~-~-> 00:24:04,260 |same reference point. Target to failed here didn't get to it just fell short retraced and we have symmetrical price swing. If I add our little arrow things
++|133 |00:24:04,260 ~-~-> 00:24:05,730 |that mt four provides us
++|134 |00:24:12,840 ~-~-> 00:24:29,430 |I can quickly add where the price objectives would be. At first scaling was 7782 first target 7794 target two and symmetrical price swing, okay or measured move.
++|135 |00:24:31,530 ~-~-> 00:24:40,440 |That's based on these entries here. Now in here, this whole portion of that consolidation and a false break again, internalize that shaded area head on the
++|136 |00:24:40,440 ~-~-> 00:24:52,740 |chart just had previously before changing to this perspective. And we're gonna watch this decline here. This drop down from this high What is it retracing from
++|137 |00:24:52,740 ~-~-> 00:25:10,980 |what's the what's the beginning of the price move? Is it here? Hear here. It's here. Why am I going to use this low? I get this all the time. Why am I going to
++|138 |00:25:10,980 ~-~-> 00:25:20,850 |put a Fibonacci on this low and not this one, and not this one, because this one has the most recent dynamic price action on the upside. So the bulk of the
++|139 |00:25:20,850 ~-~-> 00:25:43,920 |buying was right in here. So I'm going to use another fib and anchor it on the body. Right there. And I'm putting it on the body. High right there. Right
++|140 |00:25:43,920 ~-~-> 00:25:54,030 |there, that's the highest body portion of this leg. Now I'm not using this candle wick. I'm using this one here, that's the highest body. Okay, prior to
++|141 |00:25:54,360 ~-~-> 00:26:04,410 |this highbeam broken, otherwise, I would use this one. But look what happens. We have 62% retracement level right there. Okay, so we could expect price to drop
++|142 |00:26:04,410 ~-~-> 00:26:15,780 |down, which changes this range high when, when these highs are taken out right there. So you have to modify the range of your trading inside of so it's this
++|143 |00:26:15,780 ~-~-> 00:26:27,240 |low. Now not to this book of the volume or the candles high. Not the width we're using, we're using the body of the candle. So now we have to adjust it to this
++|144 |00:26:27,300 ~-~-> 00:26:35,880 |candles body, it's the highest one in the range. Now, this high to this low. What happens now, not much in terms of optimal trade entry, it just gives us a
++|145 |00:26:36,060 ~-~-> 00:26:47,580 |more refined area. It still has a buy at that same point, but it goes right to 70.5 which is the sweet spot on optimal trade entry. Price hits that during what
++|146 |00:26:47,580 ~-~-> 00:27:03,330 |time of day. what time of day is this? If I show it to you like that FOMC. That's an FOMC came out. Okay. So if we see this, we know that that big rush of
++|147 |00:27:03,330 ~-~-> 00:27:15,120 |an injection of volatility coming in by way of FOMC minutes, it can cause either continuation or reversal. In this case, we watched it drop down ahead of FOMC.
++|148 |00:27:15,750 ~-~-> 00:27:23,940 |And then when it came out, boom price continues on the path of what was already outlined earlier in the week by using the Fibonacci and using what I taught you
++|149 |00:27:23,940 ~-~-> 00:27:35,100 |for the daily chart when there's a swing low look for previous day's highs taken out. Now if that's the case, we should see other things lining up with targets.
++|150 |00:27:35,130 ~-~-> 00:27:42,510 |So I'm gonna scroll over just a little bit more. Okay, so now we have today's price action. So we already knew that this is a symmetrical price swing
++|151 |00:27:42,540 ~-~-> 00:27:51,360 |objective. And that was in video before the fact he showed you how to use the daily chart to determine what direction it was going in. These are static
++|152 |00:27:51,360 ~-~-> 00:28:00,540 |targets they didn't moved and dynamic. Okay, this one here had to be slightly dynamic because we had a break in this range. So to create a larger price range
++|153 |00:28:00,540 ~-~-> 00:28:09,150 |to trade inside out so this low to this high trading inside the range my concept down here small, small little retracement back down into an area where we would
++|154 |00:28:09,150 ~-~-> 00:28:21,660 |expect to see buying. Okay, so now if that's the case, should we be looking for these objectives from this original buy to come to fruition? Yes, because they
++|155 |00:28:21,660 ~-~-> 00:28:32,580 |were not realized. When they first started to move higher. It never reached it yet. So they're open ended targets they stay in price action. So we can do this.
++|156 |00:28:36,780 ~-~-> 00:28:52,140 |extend that out in time. Bang, it's did a beautifully the target to level right there. It's it last night before midnight, New York time. Okay. And then
++|157 |00:28:52,140 ~-~-> 00:29:04,530 |obviously you guys can see target one first Prophet was hit new problem. Now I'm going to show you a blending with the Fibonacci. Okay, and I'm gonna take this
++|158 |00:29:04,530 ~-~-> 00:29:11,850 |fit off. And I want you to look at this price move right here. See that price like
++|159 |00:29:13,170 ~-~-> 00:29:24,960 |we're gonna measure that one, and we're going to measure this one because we have an impulse leg and we have a parent impulse leg. That means this high to
++|160 |00:29:24,960 ~-~-> 00:29:34,530 |this low is to the parent price swing, but there are subordinate price swings inside that larger move. In other words, an example would be since this move
++|161 |00:29:34,530 ~-~-> 00:29:44,490 |from here to here is the most dominant price leg. Every price like can be broken down into smaller price legs or fractals. So if the retracement is the fractal
++|162 |00:29:44,490 ~-~-> 00:29:54,930 |we're going to define okay inside that retracement there's going to be smaller retracements of a lesser degree. This high down to this low is another smaller
++|163 |00:29:55,080 ~-~-> 00:30:03,600 |move of that. This high to that low is another micro price range. This is a mic For a price range from this high to this low, here's another one this high to
++|164 |00:30:03,600 ~-~-> 00:30:13,200 |this low, and how they nest out, builds market structure as you'll learn in my tutorials. But for now, I want you to take a look at what we get when we use the
++|165 |00:30:13,200 ~-~-> 00:30:31,890 |Fibonacci, not changing anything low on the bodies up to the body's high right here. Okay, symmetrical price swing, there's your target. For more of a higher
++|166 |00:30:31,890 ~-~-> 00:30:42,540 |objective, with more refinement and precision, we use the parent price swing, as I just outlined, the low based on the bodies, the high based on the bodies,
++|167 |00:30:43,200 ~-~-> 00:30:54,810 |smack dab on it, you can't get any cleaner than that range right there. So it's target two, if we break this, we will be looking for 7845 as the next upside
++|168 |00:30:54,810 ~-~-> 00:31:05,280 |objective. But right now, that is beautiful. It's a beautiful example of precision objectives using the fib using the directional bias. And it also
++|169 |00:31:05,640 ~-~-> 00:31:18,090 |overlaps very handsomely with the 7828. That was already arrived that way back here on the sixth of October. That was really confirmed, but the response on
++|170 |00:31:18,090 ~-~-> 00:31:27,570 |optimal trade entry here. And prices moving up like that, we know that these objectives were most likely going to be in play potentially there, it doesn't
++|171 |00:31:27,570 ~-~-> 00:31:36,840 |mean it's going to stop can't go any higher than 7828 just means that these are reasonable price objectives. And as price moves up into that you want to be
++|172 |00:31:36,840 ~-~-> 00:31:44,100 |taking profits. Because you don't know if either one of these are going to cause a situation like this, where we have a deeper retracement where they come back
++|173 |00:31:44,100 ~-~-> 00:31:54,210 |down to take out long holders to unseat their position and take that position over so they can write to the profitable objective. But that this is one element
++|174 |00:31:54,210 ~-~-> 00:32:05,790 |and how I use for my targeting. Now, admittedly, in my mentorship knows this as well, because I preach it. If this is the objective I'm looking for, ultimately,
++|175 |00:32:05,820 ~-~-> 00:32:18,060 |or 78. I'm not Yes, 7828. I'm not holding for that. Now, I'll tell people that that's where it's going to go. And two new traders, they hone in on just that.
++|176 |00:32:18,330 ~-~-> 00:32:28,650 |And they don't pay attention to the trade examples I show where I'm clearly getting out 15 and 20 pips before that now to the pundants. And people that are
++|177 |00:32:28,650 ~-~-> 00:32:36,300 |just really not interested in learning, they just want to be detractors. They'll say he doesn't follow his method. He doesn't practice what he preaches. No, I
++|178 |00:32:36,300 ~-~-> 00:32:45,630 |practice what I preach in regards to how my trading is I get out early, that's my model. Because I have seen many times just like this, hi was it just failed
++|179 |00:32:45,630 ~-~-> 00:32:55,200 |short fell short of the target to see if I would have held on to that was my trailing stop loss here on my full profit, not taking anything out, I would have
++|180 |00:32:55,200 ~-~-> 00:33:04,140 |been stopped out here. Not getting out at a really good place. And also getting knocked out too. That's a kind of like a double slap in the face. I want to be
++|181 |00:33:04,140 ~-~-> 00:33:14,550 |getting out when the momentum is moving in my favor. So in this case, if I'm looking for 7828 to 7830, I want to be at at 7020 7015. And I'll leave everybody
++|182 |00:33:14,550 ~-~-> 00:33:23,790 |else on Facebook and Instagram and on Twitter to say that this is where they got out. But I'll tell you that that's where the markets going to be drawn to. But
++|183 |00:33:24,270 ~-~-> 00:33:32,820 |will I be in it the entire time 90% of the time now unless I'm purposely like I did in the past. I'm trying not to do this. But I tried to show off in the past
++|184 |00:33:33,060 ~-~-> 00:33:43,020 |and show I can hold a position right to the last point. And sometimes it works. And it turns you into a superhero. Okay, you got an S on your chest. But it
++|185 |00:33:43,020 ~-~-> 00:33:50,670 |doesn't mean that I'm trading that with y funds and holding it to the last position. exit point because I'm not doing that I'm looking to get out sometimes
++|186 |00:33:50,670 ~-~-> 00:33:59,250 |15 to 20 pips early, and I'm content with that. There's much more consistency with doing that, if you're looking for objectives, then that of holding for the
++|187 |00:33:59,250 ~-~-> 00:34:03,300 |full profit potential, because your ego needs that stroking,
++|188 |00:34:03,360 ~-~-> 00:34:10,980 |or you need to feel like you were right by doing that. You're not incorrect if you get out early, and price goes to that price point. Because this is what led
++|189 |00:34:10,980 ~-~-> 00:34:21,180 |me to believe that price would go to that point. This objective, this unfulfilled price objective is what's drawing price higher, why the algorithm
++|190 |00:34:21,180 ~-~-> 00:34:29,430 |will look for liquidity to a certain degree of price range. And I'm not going to teach all that here. But long and short is it's a repeating phenomenon. And just
++|191 |00:34:29,430 ~-~-> 00:34:40,590 |with the Fibonacci, it's easy for me to communicate that visually. And it gives you a very easy way of digesting at least what I'm saying and not look like I'm
++|192 |00:34:40,590 ~-~-> 00:34:50,550 |just pulling things out of thin air. Because there is a rhyme and rhythm rhythm to how these markets move. They're pre determined and they have a scale that
++|193 |00:34:50,550 ~-~-> 00:35:03,480 |work within and until like non farm payroll or FOMC or an unrelated event like a terrorist attack or a war scenario. They are pretty much you locked inside of a
++|194 |00:35:03,480 ~-~-> 00:35:12,630 |parameter. Okay, they're not going to limit, they're not going to expose the entire economic infrastructure to collapse on the basis of randomness. It just
++|195 |00:35:12,960 ~-~-> 00:35:22,650 |doesn't work that way. Okay. So I'm going to end this portion about the Aussie dollar. And I'm gonna go over to cable real quick. And finish this presentation
++|196 |00:35:22,650 ~-~-> 00:35:33,840 |up for today. We talked about the British Pound being bullish, and I gave you an example of how it's going to run above the previous day's highs. In the same
++|197 |00:35:33,840 ~-~-> 00:35:46,680 |scenario here, we'll go and add the horizontal line here. Just was the previous day's high. On Tuesday for Wednesday's trading, we traded through that and my
++|198 |00:35:46,680 ~-~-> 00:35:56,370 |exit point was right in here. Then we had a little bit of retracement and then at the five minute mark, okay, at the five minute mark. Actually to do this,
++|199 |00:36:05,850 ~-~-> 00:36:18,000 |this level here 132 60. Okay, if you go into my optimal trade entry, failed optimal trade entry video for cable. And you see where I actually mitigate the
++|200 |00:36:18,000 ~-~-> 00:36:25,230 |loss. At the five minute mark, you'll see me actually adjust my take profit to that level, just kind of like giving you an anchor so I can come back to it
++|201 |00:36:25,230 ~-~-> 00:36:33,000 |today. I immediately told you I collapse the trade. Because I'm not trying to teach swing trading. I'm not trying to teach short term trading or one shot one
++|202 |00:36:33,000 ~-~-> 00:36:41,970 |kill none. I'm not teaching that. You have to learn that from my tutorials. When we're together daily, okay, it's just focusing on day trades. And if it doesn't
++|203 |00:36:41,970 ~-~-> 00:36:48,660 |suit you, I understand, you know, there's no need to give me I don't really interested in it. I don't really, I don't want to read negative feedback. Okay,
++|204 |00:36:48,660 ~-~-> 00:36:55,440 |because really, it is going to turn me off on it's going to mute you on Twitter. I just don't have time for it. That doesn't mean I'm wanting to be glad hand and
++|205 |00:36:55,440 ~-~-> 00:37:03,840 |stroked and fucked up on my ego, I just want to know is what I'm sharing, helping you. If it's not, I don't want to know about it. I really don't care.
++|206 |00:37:04,020 ~-~-> 00:37:14,310 |But I want you to see that this level was placed in as a target, just to kind of like nudge my mentorship. And also, they'll let you dig a little bit deeper as
++|207 |00:37:14,310 ~-~-> 00:37:22,800 |to what this level is. Now I'm not asking you guys that share on Twitter. Trust me, you guys in my mentorship Do not talk about this stuff. But this level 30 to
++|208 |00:37:22,800 ~-~-> 00:37:32,970 |60 was adjusted as a take profit. It wasn't randomly selected. It was placed there for a reason. But I want you to now just look at this. Forget the reasons
++|209 |00:37:32,970 ~-~-> 00:37:42,780 |why it was used for right now. Because if you go through the tutorials, you'll get very close to the reason why that was done. Today's trading we had the Asian
++|210 |00:37:42,780 ~-~-> 00:37:53,130 |range which is defined here's Asian range high Asian range below and price comes out of the Asian range and doesn't go above the Asian range high but rolls over.
++|211 |00:37:53,580 ~-~-> 00:38:00,510 |Okay and then we have a nice retracement right here. What do you think that is? We think this is right here.
++|212 |00:38:07,980 ~-~-> 00:38:25,350 |bodies to the body. See how the body that candle stayed inside optimal trade entry 62 70.5 79. But Michael this spike through yeah did. So what, that's not
++|213 |00:38:25,350 ~-~-> 00:38:34,350 |what your stock is going to be at. Just that's not gonna be there. Your stocks gonna be referenced over here on the anchor point. This move is your London
++|214 |00:38:34,350 ~-~-> 00:38:44,220 |setup. Here's your London open kill zone down here. You zoom out a little bit so you guys can get a better perspective. But look what level it's keying off of 30
++|215 |00:38:44,220 ~-~-> 00:38:54,060 |to 60. Okay, 30 to 60 was the level to take profit at and then it becomes an inversion level where the next setup takes place. So I'm gonna leave you with
++|216 |00:38:54,060 ~-~-> 00:39:04,230 |that portion of price action, this study what's so significant, about 130 to 60 why it was a catalyst for take profits. And why did the market turn around at
++|217 |00:39:04,230 ~-~-> 00:39:14,220 |that level and show a London open kill zone. So with optimal trade entry rate at that level, and look at the reaction there. Hopefully you found this insightful.
++|218 |00:39:14,610 ~-~-> 00:39:20,880 |I will catch up with you guys again, there will not be a live session tomorrow. I'm going to be doing some things with my son at his school so I will not be
++|219 |00:39:21,300 ~-~-> 00:39:27,600 |able to do that. But I'll resume next week with you guys. Enjoy your weekend. Be safe and until next time. I wish you good luck and good trading
--2
--00:01:34,019 ~-~-> 00:01:47,939
--Okay, we are looking at the Australian dollar. And on the left hand side is a
--daily chart. And on the right hand side, it's the 15 minute timeframe. And a few
--
--3
--00:01:47,939 ~-~-> 00:02:04,859
--days ago, I gave you a optimal trade entry, pattern recognition video for your
--learning, you guys can use that for your practicing seeing it, watching it
--
--4
--00:02:04,859 ~-~-> 00:02:14,519
--quickly, very short span of time and price action. That way, you can see what
--the pattern looks like over and over and over again, only by doing that, or by
--
--5
--00:02:14,519 ~-~-> 00:02:23,789
--making your own charts every day and putting them into like a journal screen
--capturing the chart, okay. And as soon as you think you see the optimal trade
--
--6
--00:02:23,789 ~-~-> 00:02:33,119
--entry, screen, capture that and then watch it pan out. It may or may not be
--there, okay, but over time, your ability to be able to see it will improve. Now
--
--7
--00:02:33,149 ~-~-> 00:02:44,159
--today I want to talk about selecting precision price objectives. In other words,
--where the price may go. Okay, so we've talked about how to get a daily bias real
--
--8
--00:02:44,159 ~-~-> 00:02:53,399
--quick. I'll review that set later things kind of like, you know form as we go
--through each video is not a plethora of things to know. But there's a lot of
--
--9
--00:02:53,399 ~-~-> 00:03:03,959
--things to learn. But for trading, practicing in your demo account, there are
--certain things that I think is beneficial to students of mine. Even if you don't
--
--10
--00:03:04,439 ~-~-> 00:03:15,029
--really pursue everything that's in my curriculum or tutelage, I promise you,
--there's always something out of the 20 some plus years I've been doing this,
--
--11
--00:03:15,419 ~-~-> 00:03:23,729
--invariably I find, even at seasoned traders, will send me feedback and say, hey,
--look, you know, that was really interesting, that's really filled in a gap in my
--
--12
--00:03:23,729 ~-~-> 00:03:32,789
--understanding, or it's done wonders for my results. And that's great. I
--appreciate that feedback. But today, we're looking at the Australian dollar, and
--
--13
--00:03:32,789 ~-~-> 00:03:44,819
--then I'll kind of recap with the British pound. So for teaching purposes, we're
--going to start off on the daily. Okay, and I want to bring your attention to
--
--14
--00:03:45,719 ~-~-> 00:03:56,729
--this little candle right here. Okay. And the first thing we look at is, are we
--working off of a swing, swing high or swing low. Now, currently, if you look at
--
--15
--00:03:56,729 ~-~-> 00:04:05,819
--this candle here, this one would probably throw up throw most of you off that
--aren't really simply looking at the pattern as a generic formula where it's a
--
--16
--00:04:05,819 ~-~-> 00:04:15,749
--candle that has a higher low on either side of it. That's a swing low as it
--really is it relates to this one here, we have a low on this candle here. We
--
--17
--00:04:15,749 ~-~-> 00:04:25,289
--have a lower low, then we have a higher low, skipping the candle right here. Why
--am I skipping that? Well, it's because it's a Sunday candle. Okay, so this
--
--18
--00:04:25,289 ~-~-> 00:04:33,479
--candle here, kind of like this. disregarded, dismissed it don't think it's there
--at all. If you have a platform doesn't have Sunday candles, you are at an
--
--19
--00:04:33,509 ~-~-> 00:04:42,839
--advantage because I'm teaching through a forex Ltd demo. So the price action
--you're seeing here is directly related to the fee they provide and admittedly
--
--20
--00:04:42,989 ~-~-> 00:04:54,359
--the last couple of weeks. They've had some hiccups in their data. So take it for
--what it is. Okay, I just use it because it has $1 index and dollar index in my
--
--21
--00:04:54,359 ~-~-> 00:05:04,349
--opinion is important when we do analysis but if we disregard this candle right
--here, we have the past Which is the swing low, we have a lower low here than the
--
--22
--00:05:04,379 ~-~-> 00:05:18,269
--candle before and the candle after it. Okay? Once we have that our thought
--process is to look for price to want to target runs on liquidity above the
--
--23
--00:05:18,269 ~-~-> 00:05:29,999
--previous day's high. It's just that simple. Okay? I'm not going to be teaching
--if the, which is the interbank price delivery algorithm. It's a unique thing in
--
--24
--00:05:29,999 ~-~-> 00:05:38,399
--my repertoire, my curriculum, my teachings, it no one else talks about nine
--books or anything like that. And I'm not teaching you every facet to it, because
--
--25
--00:05:38,399 ~-~-> 00:05:45,719
--that was in my mentorship stuff. So those folks are the only ones I'm gonna
--share it with me No, and I'm not teaching anymore, but I will give you a very
--
--26
--00:05:45,719 ~-~-> 00:05:55,379
--simple approach, and a very foundational approach on how you can look for
--setups. And we've already done so by teaching this kind of rehashing it here. So
--
--27
--00:05:55,379 ~-~-> 00:06:00,479
--that way, it's in one video, it's uniform. So you can see everything in one
--short little video.
--
--28
--00:06:01,740 ~-~-> 00:06:11,340
--So we have a swing low. And then the expectation is is the algorithm that the
--price engines use for delivering price to all of our feeds. Now, there's going
--
--29
--00:06:11,340 ~-~-> 00:06:19,620
--to be a slight skew in what price we see and what is actually on the interbank
--level. I'm not going to get into that, just understand that there's always going
--
--30
--00:06:19,620 ~-~-> 00:06:26,670
--to be some slight variance between what you're using to trade with and what I'm
--showing, okay, everyone's broker is going to have a slightly different quote,
--
--31
--00:06:26,670 ~-~-> 00:06:33,960
--high quote low. It goes along with the territory, you sign it in the risk
--disclosure saying that you are willing to work within those guidelines and it's
--
--32
--00:06:33,960 ~-~-> 00:06:43,230
--legal, sorry, hate to say it, but you give them permission to do so. So the high
--we're gonna start targeting and looking for moves above the previous day's high
--
--33
--00:06:43,230 ~-~-> 00:06:53,340
--so once this candle closes, we have a swing low. Okay, disregard this candle
--right here. Okay. Now the next day, we're gonna be looking for price to trade
--
--34
--00:06:53,340 ~-~-> 00:07:02,820
--above this candle is high, it does so. Okay. Now the next day, we're going to
--look for the same phenomenon to take place we're going to look for the previous
--
--35
--00:07:02,820 ~-~-> 00:07:11,550
--day's high to be traded through. Okay, we open. I'm not talking about power
--three today, I'm not doing anything like that. But we're looking for an eventual
--
--36
--00:07:11,550 ~-~-> 00:07:23,730
--run above the previous day's high. This is foundational for directional bias for
--day trading. Now, I'm only focusing this project if you want to call it on day
--
--37
--00:07:23,730 ~-~-> 00:07:32,250
--trading only I'm not teaching is swing trading. I'm not teaching you position
--trading like that. This is all just day trading information. You can see price
--
--38
--00:07:32,250 ~-~-> 00:07:41,670
--runs through that. previous day's high. Okay, the same drove the next day.
--Nothing's changed. We're waiting to see a eventual run through the previous
--
--39
--00:07:41,670 ~-~-> 00:07:54,000
--day's high. It does that. Now is it giving you the low of the day to get in? No,
--that's not its function. It's not its purpose. This concepts responsibility
--
--40
--00:07:54,000 ~-~-> 00:08:06,960
--really is just to give you Where is price most likely not panacea not be all end
--all. Not an absolution most likely going to direction higher low. Well, we know
--
--41
--00:08:06,960 ~-~-> 00:08:14,310
--we're refocusing on the market wanting to go above the previous day's high. So
--that gives us a directional bias on the day. Now there's going to be
--
--42
--00:08:14,310 ~-~-> 00:08:23,250
--fluctuations intraday, and I'm sure 30 different scalpers out there will say,
--well, you had this wrong because I took 12 pips going short on this, that's,
--
--43
--00:08:23,280 ~-~-> 00:08:30,810
--that's up to you to think that way. And I'm not going to try to say what you're
--doing is wrong. If it's working for you, great. I'm just sharing my
--
--44
--00:08:30,810 ~-~-> 00:08:39,330
--internalization of what price action means to me. And I leave it all to you
--whether you think it's valuable or not. Okay, I really don't care to know, if
--
--45
--00:08:39,390 ~-~-> 00:08:46,890
--you think what I'm doing is good or bad. I just want to know how you're using
--it. Okay, and give me that feedback. That's the only thing I care about. So
--
--46
--00:08:46,890 ~-~-> 00:08:56,460
--we're going to use this information and translate that into what we see on the
--15 minute timeframe on the Ozzy. Now, again, I'm going to refer you back to the
--
--47
--00:08:56,550 ~-~-> 00:09:06,330
--optimal trade entry pattern recognition video. I did for Aussie dollar, it's in
--the title, so you can see it on my YouTube channel. But we talked about this
--
--48
--00:09:06,330 ~-~-> 00:09:21,360
--high here and this low right here. Okay, this framework right here, this break
--in that range, this low to high once it was broken right here. Okay, once price
--
--49
--00:09:21,360 ~-~-> 00:09:34,470
--traded to that point here, that gives us an inclination that maybe perhaps, the
--market may want to trade higher. If it does, then this phenomenon I just
--
--50
--00:09:34,470 ~-~-> 00:09:44,910
--outlined on the daily chart should manifest itself in price action. If it
--doesn't, then there's no trade or you'll suffer a loss. There's nothing wrong
--
--51
--00:09:44,910 ~-~-> 00:09:53,880
--with that. yesterday's show, there's no reason to be fearful of taking a loss.
--Your methods still going to work. If you have a sound method, and you just have
--
--52
--00:09:53,880 ~-~-> 00:10:02,640
--to execute and keep risk small and don't let the demons of price action and
--trading and speculation Overcoming worry you don't let it scare you out to take
--
--53
--00:10:02,670 ~-~-> 00:10:17,760
--the next trade, but don't over trade too. There's a lot of balancing act in it.
--So we're going to look at this high rate here, and we get this little trend line
--
--54
--00:10:17,760 ~-~-> 00:10:33,060
--thing here. So when we see this right here, this gets us on the watch list of
--determining whether or not this whole effect is going to manifest itself. Okay,
--
--55
--00:10:33,060 ~-~-> 00:10:43,470
--now we're looking for reasons to suspect the directional bias should start
--panning out for upward momentum, seeking liquidity above the previous day's
--
--56
--00:10:43,680 ~-~-> 00:10:55,350
--trading high, or daily high. So we have the short term high broken, right here.
--So now what we want to do is apply our Fibonacci, not to Fibonacci is the answer
--
--57
--00:10:55,350 ~-~-> 00:11:02,310
--to anything. But it helps as a crutch for new traders, to see areas of
--valuation.
--
--58
--00:11:05,400 ~-~-> 00:11:14,400
--And I taught you to use the bodies of the candles, not the wicks, because that's
--where everyone's price action is going to be different. So I focus primarily on
--
--59
--00:11:14,640 ~-~-> 00:11:25,320
--the bulk of the volume being inside the body of the candle. Okay, that's the
--reason why I'm choosing to do that. So we have this model here, okay, this whole
--
--60
--00:11:25,320 ~-~-> 00:11:35,100
--framework of price swing, this is an impulse price swing, or impulse price leg
--interchangeable terms. When price trades back down to the 62% retracement level,
--
--61
--00:11:35,550 ~-~-> 00:11:48,180
--70.5 level, or 79% level, that gives us an area to anticipate potential buying
--opportunities. So we have buys down here likely to form and obviously you have
--
--62
--00:11:48,180 ~-~-> 00:11:56,880
--the benefit of hindsight here. But we have targets of target one, we have the
--old high, which is your first scale out. This is where you take your first
--
--63
--00:11:56,880 ~-~-> 00:12:09,600
--scaling and adjust your stop to reduce risk. Then here's your next target here,
--target one didn't target two, and then it's a symmetrical price swing. Okay. As
--
--64
--00:12:09,600 ~-~-> 00:12:20,520
--price unfolds, reaching for previous day's high and the seeking liquidity above
--each respective previous day's high, each time it does that you need to be
--
--65
--00:12:20,520 ~-~-> 00:12:30,270
--looking to take profits, because at some point, this whole dynamic over here on
--the daily could potentially change. So you always have to be mindful of, for
--
--66
--00:12:30,270 ~-~-> 00:12:39,750
--instance, if we have a day, for instance, tomorrow, say we have a day that
--creates a lower high. Well, that changes the whole directional bias now, doesn't
--
--67
--00:12:39,750 ~-~-> 00:12:48,390
--it, we would switch gears and start looking for reasons to see a run on the
--previous day's low for the liquidity resting below that. So it gives us a
--
--68
--00:12:48,390 ~-~-> 00:12:55,470
--framework at some point, we are potentially going to be wrong. Like anything
--else in trading, you're going to have a losing trade, you're going to have a
--
--69
--00:12:55,470 ~-~-> 00:13:04,530
--series of losing trades. And you can't fight that. If you try to do that it's
--going to mess you up. This simply follow the rules, be willing to take a loss
--
--70
--00:13:04,530 ~-~-> 00:13:12,090
--because the loss will give you insight, it just means you're paying a premium
--for that valuable information. Something has changed internally. Especially if
--
--71
--00:13:12,090 ~-~-> 00:13:19,980
--you see a day that has a lower high. Now you have a swing high. And then you'd
--look for reasons to start looking for price breaking down below the previous
--
--72
--00:13:19,980 ~-~-> 00:13:28,110
--day's low. Now if it doesn't do that, after the formation of the daily swing
--high, then we may be consolidating or it could be just a retracement to go
--
--73
--00:13:28,110 ~-~-> 00:13:36,270
--higher again. And once we take out the swing high it formed, its high. And
--everything resumes back in this model where we start looking for runs on
--
--74
--00:13:36,270 ~-~-> 00:13:48,900
--previous day's highs or old highs, which would be the case over here. Okay, real
--simple way of approaching building daily bias. It's it closest thing I can give
--
--75
--00:13:48,900 ~-~-> 00:13:57,660
--you that can be written on the back of a business card that is so good. It blows
--the doors off of most retail stuff. Okay, cuz it gives you a real quick way of
--
--76
--00:13:57,660 ~-~-> 00:14:04,950
--internalizing from an institutional standpoint where liquidity is and how this
--how to determine what side of the marketplace it's going to target. Alright, so
--
--77
--00:14:04,950 ~-~-> 00:14:17,430
--now I'm going to maximize this chart over here. Okay, and you can see this is
--the chart that we shared on that video. And we've just fallen short of target to
--
--78
--00:14:17,970 ~-~-> 00:14:28,260
--over here and started having a deep retracement. It does not mean that the model
--on the daily chart when it does this, that the daily model or what we're looking
--
--79
--00:14:28,260 ~-~-> 00:14:38,700
--for for daily bias going higher. This doesn't change that. Okay, what we had is
--we had a consolidation rally up target to didn't get hit no problem. We have a
--
--80
--00:14:38,910 ~-~-> 00:14:54,330
--retracement and it sells off again. I want you to look at this portion of price
--action right in here. If we're bullish, as we were indicating on the daily
--
--81
--00:14:54,330 ~-~-> 00:15:15,660
--chart, change the color this rectangle and see If we have, let's go with this.
--And it's not like that's a good background. Alright, so inside this whole
--
--82
--00:15:15,660 ~-~-> 00:15:26,910
--consolidation, we had one run above these highs, got people trapped, chasing
--long zone breakouts. Okay, now we're trading if you've watched technical
--
--83
--00:15:26,910 ~-~-> 00:15:36,060
--analysis, videos on YouTube or read books, they'll teach us as a bull flag, it
--rallies up consolidates starts to run higher, it's probably going to do the same
--
--84
--00:15:36,060 ~-~-> 00:15:44,460
--move from this low, up to the high added to the low and projected up, they got
--burned there. Okay, that's why I'm not a real big fan of traditional
--
--85
--00:15:44,760 ~-~-> 00:15:52,620
--technical analysis, because they're used many times to manipulate the thought
--processes or build sentiment many times is the incorrect perception of what
--
--86
--00:15:52,620 ~-~-> 00:16:01,920
--price is most likely going to do. So we have a consolidation, we have a false
--move here or break above old highs, they sell off of that, and they run back
--
--87
--00:16:01,920 ~-~-> 00:16:11,520
--down below what side of the marketplace below the consolidation lows. That's
--right here. Now, if we have the understanding, or expectation that the daily
--
--88
--00:16:11,520 ~-~-> 00:16:21,390
--chart is predisposed to move higher, each trading day looking for its respective
--previous day's high to be taken out, we have a bias, that means it's most likely
--
--89
--00:16:21,390 ~-~-> 00:16:33,270
--going to go higher. So anytime we drop down, our thought process should be
--switching to Okay, it's probably going down to knock out week bulls or trip in
--
--90
--00:16:33,990 ~-~-> 00:16:42,570
--rushing bears, folks that want to get in on a break below these lows. Okay, if
--you look at indicators in here, and I'll just throw one up here, just for the
--
--91
--00:16:43,170 ~-~-> 00:16:53,310
--amusement of it, from using these highs to this high here, momentum indicators,
--this is really big on Facebook and folks that use that kind of stuff, to
--
--92
--00:16:53,310 ~-~-> 00:17:04,740
--convince their spectators that they have a bead on what price is doing, you're
--gonna see a divergence in here. And what is used as a good setup. All right, we
--
--93
--00:17:04,740 ~-~-> 00:17:19,530
--have here and higher here is slightly lower high here. But even on this run to
--this candle failure. If we use a percent, it's slightly different. Let's do this
--
--94
--00:17:21,840 ~-~-> 00:17:36,690
--14% I'm sorry, 14 k period, and will smooth with that's that's good. But that
--anytime price comes down below old lows. If you want to use a momentum indicator
--
--95
--00:17:36,720 ~-~-> 00:17:45,930
--that means like stochastic I like stochastic RSI I can't stand it. MACD is so
--smooth, unless you're using it for long, long, long term position trading. I
--
--96
--00:17:45,930 ~-~-> 00:17:56,130
--don't think it's beneficial either unless you use the histogram. And again, I'm
--not trying to teach indicators. But I would be very safe in betting that the new
--
--97
--00:17:56,130 ~-~-> 00:18:05,550
--crowd that has just started following me uses things like this on our charts,
--okay, and then looking for overbought, oversold. If you blend what I'm going to
--
--98
--00:18:05,550 ~-~-> 00:18:13,140
--show you here, you're going to see that the indicators work then. And that's the
--times when we see them in textbooks, when they work in a it's favorable to have
--
--99
--00:18:13,140 ~-~-> 00:18:20,220
--been a follower of that perception. That's what tricks people. That's what
--tricked me when I first started trading, but it doesn't give you the context of
--
--100
--00:18:20,220 ~-~-> 00:18:27,660
--when to use the indicator. And they'll they'll tell you when the moving averages
--are going up. It's a bull market. So there look for the bullish divergence.
--
--101
--00:18:27,930 ~-~-> 00:18:38,610
--Well, sometimes that works, sometimes it doesn't. So if we know what we're
--looking for in terms of how the market will reach for liquidity, as I defined on
--
--102
--00:18:38,610 ~-~-> 00:18:47,310
--a daily chart, we know that that's what we should be focusing on any other
--retracements of any kind, until it changes the tune or storyline, it's on a
--
--103
--00:18:47,310 ~-~-> 00:18:57,330
--daily chart. Everything going down on the lower timeframes is simply new buying
--opportunities. It's going down the screw up the mindsets of those individuals
--
--104
--00:18:57,330 ~-~-> 00:19:06,120
--watching one in five minute charts, because if they see moves like this, they're
--gonna think right away, it's going lower. So therefore be short. And traders
--
--105
--00:19:06,120 ~-~-> 00:19:14,790
--that want a lot of confirmation behind their ideas. They will have cell stops
--triggered right below here because they don't trust what what's going on. They
--
--106
--00:19:14,790 ~-~-> 00:19:24,750
--just want to follow the rushing tide. So if price starts to break down as it
--does below here, they're short. Well, they see a momentary profitability. I'll
--
--107
--00:19:24,750 ~-~-> 00:19:31,350
--say it like that, quote unquote. But right away, it's taken away from them and
--snatched and drunk against them
--
--108
--00:19:31,590 ~-~-> 00:19:42,870
--in another direction. This whole move here was not by coincidence, it's not by
--you randomness and it also comes by way of a bullish divergence. There's where
--
--109
--00:19:42,870 ~-~-> 00:19:53,190
--your bullish divergence works. In momentum indicators were extremely oversold,
--and we're below old lows. Okay, so what I'm actually giving you is a perception
--
--110
--00:19:53,220 ~-~-> 00:20:05,760
--on where price will go to a point to take out long holders Nothing if they were
--lucky enough to buy over here, they've held through this whole period of time.
--
--111
--00:20:06,120 ~-~-> 00:20:15,000
--And they watched it drop down to right where their stop loss would have been
--because the textbooks teach. This is a double bottom. So as price ran up, where
--
--112
--00:20:15,000 ~-~-> 00:20:25,950
--would they place their stop loss on their long position, right below there. So
--when we see drops, or declines against the higher timeframe daily chart that is
--
--113
--00:20:26,190 ~-~-> 00:20:35,610
--giving us clues that it's most likely going to go higher than the previous day's
--high. Anytime we drop down below old lows, that's most likely a stop run. And
--
--114
--00:20:35,610 ~-~-> 00:20:45,210
--you can anticipate that and if you haven't taken a position yet, you can buy
--just on the basis of that alone. So I'm giving you a little bit of blending on
--
--115
--00:20:45,210 ~-~-> 00:20:56,370
--how you can use the retail crutches that are available, but using the right
--concepts and in time using proper context. So we're going to take this nonsense
--
--116
--00:20:56,370 ~-~-> 00:21:08,490
--off. Okay, go right back to price action. So now we had this consolidation,
--false run above and then make a run on long holders. Notice how after they've
--
--117
--00:21:08,490 ~-~-> 00:21:18,240
--taken the stop losses away, and out of the hands of the long holders that were
--maybe from over here, maybe someone got lucky and bought it down here? I don't
--
--118
--00:21:18,240 ~-~-> 00:21:25,440
--know. I don't care to know. All I know is is when it has equal lows like this
--and the market is predisposed to go higher. That's going to be what I call
--
--119
--00:21:25,440 ~-~-> 00:21:34,950
--Candyland. Okay, they're going to go down here and take those stops away from
--them. Imagine you want to get somewhere. Okay, and the bus is full. But your big
--
--120
--00:21:34,950 ~-~-> 00:21:42,990
--strong guy, okay, you're a bully. You can go on that bus, snatch my other seat,
--throw them onto the street and then take their seat over? Well, that's what the
--
--121
--00:21:42,990 ~-~-> 00:21:52,350
--market makers do. You had your seat on the bus, you've been getting closer to
--your destination, you get real close to the destination, Oh, we got a detour
--
--122
--00:21:52,440 ~-~-> 00:21:59,370
--can't go any further. Okay, we come back down here, when we get to this point
--here, start to go a little bit higher, you feel you're getting somewhere. Now we
--
--123
--00:21:59,370 ~-~-> 00:22:06,150
--go another detour in the bad section of the neighborhood. Okay, and the guy
--comes in, knocks off the bus and takes your seat and then ultimately goes where
--
--124
--00:22:06,150 ~-~-> 00:22:13,680
--you want to go, ultimately, but you can't get there. So you've given up profit,
--and you've given up your seat on the bus and you never got to the destination
--
--125
--00:22:13,680 ~-~-> 00:22:22,380
--you were intended to go. So that's the storyline I teach kind of like what my
--kids that make it palatable. So you can see it a little bit in price because
--
--126
--00:22:22,680 ~-~-> 00:22:30,570
--looking at it like this, it's abstract. But when you apply things to understand
--why the price is doing it, the mechanics behind it, that's what it is. Okay,
--
--127
--00:22:30,960 ~-~-> 00:22:46,200
--now, if we see these things happening, okay, I given you the body to body
--measurements for fit, and the targets being first profit, scaling, target one,
--
--128
--00:22:46,380 ~-~-> 00:22:58,050
--target two, and symmetrical price swing. Okay, I'm going to apply a little bit
--more information to save some time, but that did a little bit more jawboning
--
--129
--00:22:58,050 ~-~-> 00:23:14,910
--today than I wanted to. And I want to go back out to that same information just
--with all of the kill zones and such applied. So now we're gonna go back in and
--
--130
--00:23:14,910 ~-~-> 00:23:18,420
--apply the fib real quick, doesn't take long to do it.
--
--131
--00:23:31,290 ~-~-> 00:23:50,370
--Well, Michael, here we are. You fix this real quick while I'm thinking about it,
--all right. So in the bodies, low and up to the body here. Okay, so we have that
--
--132
--00:23:50,370 ~-~-> 00:24:04,260
--same reference point. Target to failed here didn't get to it just fell short
--retraced and we have symmetrical price swing. If I add our little arrow things
--
--133
--00:24:04,260 ~-~-> 00:24:05,730
--that mt four provides us
--
--134
--00:24:12,840 ~-~-> 00:24:29,430
--I can quickly add where the price objectives would be. At first scaling was 7782
--first target 7794 target two and symmetrical price swing, okay or measured move.
--
--135
--00:24:31,530 ~-~-> 00:24:40,440
--That's based on these entries here. Now in here, this whole portion of that
--consolidation and a false break again, internalize that shaded area head on the
--
--136
--00:24:40,440 ~-~-> 00:24:52,740
--chart just had previously before changing to this perspective. And we're gonna
--watch this decline here. This drop down from this high What is it retracing from
--
--137
--00:24:52,740 ~-~-> 00:25:10,980
--what's the what's the beginning of the price move? Is it here? Hear here. It's
--here. Why am I going to use this low? I get this all the time. Why am I going to
--
--138
--00:25:10,980 ~-~-> 00:25:20,850
--put a Fibonacci on this low and not this one, and not this one, because this one
--has the most recent dynamic price action on the upside. So the bulk of the
--
--139
--00:25:20,850 ~-~-> 00:25:43,920
--buying was right in here. So I'm going to use another fib and anchor it on the
--body. Right there. And I'm putting it on the body. High right there. Right
--
--140
--00:25:43,920 ~-~-> 00:25:54,030
--there, that's the highest body portion of this leg. Now I'm not using this
--candle wick. I'm using this one here, that's the highest body. Okay, prior to
--
--141
--00:25:54,360 ~-~-> 00:26:04,410
--this highbeam broken, otherwise, I would use this one. But look what happens. We
--have 62% retracement level right there. Okay, so we could expect price to drop
--
--142
--00:26:04,410 ~-~-> 00:26:15,780
--down, which changes this range high when, when these highs are taken out right
--there. So you have to modify the range of your trading inside of so it's this
--
--143
--00:26:15,780 ~-~-> 00:26:27,240
--low. Now not to this book of the volume or the candles high. Not the width we're
--using, we're using the body of the candle. So now we have to adjust it to this
--
--144
--00:26:27,300 ~-~-> 00:26:35,880
--candles body, it's the highest one in the range. Now, this high to this low.
--What happens now, not much in terms of optimal trade entry, it just gives us a
--
--145
--00:26:36,060 ~-~-> 00:26:47,580
--more refined area. It still has a buy at that same point, but it goes right to
--70.5 which is the sweet spot on optimal trade entry. Price hits that during what
--
--146
--00:26:47,580 ~-~-> 00:27:03,330
--time of day. what time of day is this? If I show it to you like that FOMC.
--That's an FOMC came out. Okay. So if we see this, we know that that big rush of
--
--147
--00:27:03,330 ~-~-> 00:27:15,120
--an injection of volatility coming in by way of FOMC minutes, it can cause either
--continuation or reversal. In this case, we watched it drop down ahead of FOMC.
--
--148
--00:27:15,750 ~-~-> 00:27:23,940
--And then when it came out, boom price continues on the path of what was already
--outlined earlier in the week by using the Fibonacci and using what I taught you
--
--149
--00:27:23,940 ~-~-> 00:27:35,100
--for the daily chart when there's a swing low look for previous day's highs taken
--out. Now if that's the case, we should see other things lining up with targets.
--
--150
--00:27:35,130 ~-~-> 00:27:42,510
--So I'm gonna scroll over just a little bit more. Okay, so now we have today's
--price action. So we already knew that this is a symmetrical price swing
--
--151
--00:27:42,540 ~-~-> 00:27:51,360
--objective. And that was in video before the fact he showed you how to use the
--daily chart to determine what direction it was going in. These are static
--
--152
--00:27:51,360 ~-~-> 00:28:00,540
--targets they didn't moved and dynamic. Okay, this one here had to be slightly
--dynamic because we had a break in this range. So to create a larger price range
--
--153
--00:28:00,540 ~-~-> 00:28:09,150
--to trade inside out so this low to this high trading inside the range my concept
--down here small, small little retracement back down into an area where we would
--
--154
--00:28:09,150 ~-~-> 00:28:21,660
--expect to see buying. Okay, so now if that's the case, should we be looking for
--these objectives from this original buy to come to fruition? Yes, because they
--
--155
--00:28:21,660 ~-~-> 00:28:32,580
--were not realized. When they first started to move higher. It never reached it
--yet. So they're open ended targets they stay in price action. So we can do this.
--
--156
--00:28:36,780 ~-~-> 00:28:52,140
--extend that out in time. Bang, it's did a beautifully the target to level right
--there. It's it last night before midnight, New York time. Okay. And then
--
--157
--00:28:52,140 ~-~-> 00:29:04,530
--obviously you guys can see target one first Prophet was hit new problem. Now I'm
--going to show you a blending with the Fibonacci. Okay, and I'm gonna take this
--
--158
--00:29:04,530 ~-~-> 00:29:11,850
--fit off. And I want you to look at this price move right here. See that price
--like
--
--159
--00:29:13,170 ~-~-> 00:29:24,960
--we're gonna measure that one, and we're going to measure this one because we
--have an impulse leg and we have a parent impulse leg. That means this high to
--
--160
--00:29:24,960 ~-~-> 00:29:34,530
--this low is to the parent price swing, but there are subordinate price swings
--inside that larger move. In other words, an example would be since this move
--
--161
--00:29:34,530 ~-~-> 00:29:44,490
--from here to here is the most dominant price leg. Every price like can be broken
--down into smaller price legs or fractals. So if the retracement is the fractal
--
--162
--00:29:44,490 ~-~-> 00:29:54,930
--we're going to define okay inside that retracement there's going to be smaller
--retracements of a lesser degree. This high down to this low is another smaller
--
--163
--00:29:55,080 ~-~-> 00:30:03,600
--move of that. This high to that low is another micro price range. This is a mic
--For a price range from this high to this low, here's another one this high to
--
--164
--00:30:03,600 ~-~-> 00:30:13,200
--this low, and how they nest out, builds market structure as you'll learn in my
--tutorials. But for now, I want you to take a look at what we get when we use the
--
--165
--00:30:13,200 ~-~-> 00:30:31,890
--Fibonacci, not changing anything low on the bodies up to the body's high right
--here. Okay, symmetrical price swing, there's your target. For more of a higher
--
--166
--00:30:31,890 ~-~-> 00:30:42,540
--objective, with more refinement and precision, we use the parent price swing, as
--I just outlined, the low based on the bodies, the high based on the bodies,
--
--167
--00:30:43,200 ~-~-> 00:30:54,810
--smack dab on it, you can't get any cleaner than that range right there. So it's
--target two, if we break this, we will be looking for 7845 as the next upside
--
--168
--00:30:54,810 ~-~-> 00:31:05,280
--objective. But right now, that is beautiful. It's a beautiful example of
--precision objectives using the fib using the directional bias. And it also
--
--169
--00:31:05,640 ~-~-> 00:31:18,090
--overlaps very handsomely with the 7828. That was already arrived that way back
--here on the sixth of October. That was really confirmed, but the response on
--
--170
--00:31:18,090 ~-~-> 00:31:27,570
--optimal trade entry here. And prices moving up like that, we know that these
--objectives were most likely going to be in play potentially there, it doesn't
--
--171
--00:31:27,570 ~-~-> 00:31:36,840
--mean it's going to stop can't go any higher than 7828 just means that these are
--reasonable price objectives. And as price moves up into that you want to be
--
--172
--00:31:36,840 ~-~-> 00:31:44,100
--taking profits. Because you don't know if either one of these are going to cause
--a situation like this, where we have a deeper retracement where they come back
--
--173
--00:31:44,100 ~-~-> 00:31:54,210
--down to take out long holders to unseat their position and take that position
--over so they can write to the profitable objective. But that this is one element
--
--174
--00:31:54,210 ~-~-> 00:32:05,790
--and how I use for my targeting. Now, admittedly, in my mentorship knows this as
--well, because I preach it. If this is the objective I'm looking for, ultimately,
--
--175
--00:32:05,820 ~-~-> 00:32:18,060
--or 78. I'm not Yes, 7828. I'm not holding for that. Now, I'll tell people that
--that's where it's going to go. And two new traders, they hone in on just that.
--
--176
--00:32:18,330 ~-~-> 00:32:28,650
--And they don't pay attention to the trade examples I show where I'm clearly
--getting out 15 and 20 pips before that now to the pundants. And people that are
--
--177
--00:32:28,650 ~-~-> 00:32:36,300
--just really not interested in learning, they just want to be detractors. They'll
--say he doesn't follow his method. He doesn't practice what he preaches. No, I
--
--178
--00:32:36,300 ~-~-> 00:32:45,630
--practice what I preach in regards to how my trading is I get out early, that's
--my model. Because I have seen many times just like this, hi was it just failed
--
--179
--00:32:45,630 ~-~-> 00:32:55,200
--short fell short of the target to see if I would have held on to that was my
--trailing stop loss here on my full profit, not taking anything out, I would have
--
--180
--00:32:55,200 ~-~-> 00:33:04,140
--been stopped out here. Not getting out at a really good place. And also getting
--knocked out too. That's a kind of like a double slap in the face. I want to be
--
--181
--00:33:04,140 ~-~-> 00:33:14,550
--getting out when the momentum is moving in my favor. So in this case, if I'm
--looking for 7828 to 7830, I want to be at at 7020 7015. And I'll leave everybody
--
--182
--00:33:14,550 ~-~-> 00:33:23,790
--else on Facebook and Instagram and on Twitter to say that this is where they got
--out. But I'll tell you that that's where the markets going to be drawn to. But
--
--183
--00:33:24,270 ~-~-> 00:33:32,820
--will I be in it the entire time 90% of the time now unless I'm purposely like I
--did in the past. I'm trying not to do this. But I tried to show off in the past
--
--184
--00:33:33,060 ~-~-> 00:33:43,020
--and show I can hold a position right to the last point. And sometimes it works.
--And it turns you into a superhero. Okay, you got an S on your chest. But it
--
--185
--00:33:43,020 ~-~-> 00:33:50,670
--doesn't mean that I'm trading that with y funds and holding it to the last
--position. exit point because I'm not doing that I'm looking to get out sometimes
--
--186
--00:33:50,670 ~-~-> 00:33:59,250
--15 to 20 pips early, and I'm content with that. There's much more consistency
--with doing that, if you're looking for objectives, then that of holding for the
--
--187
--00:33:59,250 ~-~-> 00:34:03,300
--full profit potential, because your ego needs that stroking,
--
--188
--00:34:03,360 ~-~-> 00:34:10,980
--or you need to feel like you were right by doing that. You're not incorrect if
--you get out early, and price goes to that price point. Because this is what led
--
--189
--00:34:10,980 ~-~-> 00:34:21,180
--me to believe that price would go to that point. This objective, this
--unfulfilled price objective is what's drawing price higher, why the algorithm
--
--190
--00:34:21,180 ~-~-> 00:34:29,430
--will look for liquidity to a certain degree of price range. And I'm not going to
--teach all that here. But long and short is it's a repeating phenomenon. And just
--
--191
--00:34:29,430 ~-~-> 00:34:40,590
--with the Fibonacci, it's easy for me to communicate that visually. And it gives
--you a very easy way of digesting at least what I'm saying and not look like I'm
--
--192
--00:34:40,590 ~-~-> 00:34:50,550
--just pulling things out of thin air. Because there is a rhyme and rhythm rhythm
--to how these markets move. They're pre determined and they have a scale that
--
--193
--00:34:50,550 ~-~-> 00:35:03,480
--work within and until like non farm payroll or FOMC or an unrelated event like a
--terrorist attack or a war scenario. They are pretty much you locked inside of a
--
--194
--00:35:03,480 ~-~-> 00:35:12,630
--parameter. Okay, they're not going to limit, they're not going to expose the
--entire economic infrastructure to collapse on the basis of randomness. It just
--
--195
--00:35:12,960 ~-~-> 00:35:22,650
--doesn't work that way. Okay. So I'm going to end this portion about the Aussie
--dollar. And I'm gonna go over to cable real quick. And finish this presentation
--
--196
--00:35:22,650 ~-~-> 00:35:33,840
--up for today. We talked about the British Pound being bullish, and I gave you an
--example of how it's going to run above the previous day's highs. In the same
--
--197
--00:35:33,840 ~-~-> 00:35:46,680
--scenario here, we'll go and add the horizontal line here. Just was the previous
--day's high. On Tuesday for Wednesday's trading, we traded through that and my
--
--198
--00:35:46,680 ~-~-> 00:35:56,370
--exit point was right in here. Then we had a little bit of retracement and then
--at the five minute mark, okay, at the five minute mark. Actually to do this,
--
--199
--00:36:05,850 ~-~-> 00:36:18,000
--this level here 132 60. Okay, if you go into my optimal trade entry, failed
--optimal trade entry video for cable. And you see where I actually mitigate the
--
--200
--00:36:18,000 ~-~-> 00:36:25,230
--loss. At the five minute mark, you'll see me actually adjust my take profit to
--that level, just kind of like giving you an anchor so I can come back to it
--
--201
--00:36:25,230 ~-~-> 00:36:33,000
--today. I immediately told you I collapse the trade. Because I'm not trying to
--teach swing trading. I'm not trying to teach short term trading or one shot one
--
--202
--00:36:33,000 ~-~-> 00:36:41,970
--kill none. I'm not teaching that. You have to learn that from my tutorials. When
--we're together daily, okay, it's just focusing on day trades. And if it doesn't
--
--203
--00:36:41,970 ~-~-> 00:36:48,660
--suit you, I understand, you know, there's no need to give me I don't really
--interested in it. I don't really, I don't want to read negative feedback. Okay,
--
--204
--00:36:48,660 ~-~-> 00:36:55,440
--because really, it is going to turn me off on it's going to mute you on Twitter.
--I just don't have time for it. That doesn't mean I'm wanting to be glad hand and
--
--205
--00:36:55,440 ~-~-> 00:37:03,840
--stroked and fucked up on my ego, I just want to know is what I'm sharing,
--helping you. If it's not, I don't want to know about it. I really don't care.
--
--206
--00:37:04,020 ~-~-> 00:37:14,310
--But I want you to see that this level was placed in as a target, just to kind of
--like nudge my mentorship. And also, they'll let you dig a little bit deeper as
--
--207
--00:37:14,310 ~-~-> 00:37:22,800
--to what this level is. Now I'm not asking you guys that share on Twitter. Trust
--me, you guys in my mentorship Do not talk about this stuff. But this level 30 to
--
--208
--00:37:22,800 ~-~-> 00:37:32,970
--60 was adjusted as a take profit. It wasn't randomly selected. It was placed
--there for a reason. But I want you to now just look at this. Forget the reasons
--
--209
--00:37:32,970 ~-~-> 00:37:42,780
--why it was used for right now. Because if you go through the tutorials, you'll
--get very close to the reason why that was done. Today's trading we had the Asian
--
--210
--00:37:42,780 ~-~-> 00:37:53,130
--range which is defined here's Asian range high Asian range below and price comes
--out of the Asian range and doesn't go above the Asian range high but rolls over.
--
--211
--00:37:53,580 ~-~-> 00:38:00,510
--Okay and then we have a nice retracement right here. What do you think that is?
--We think this is right here.
--
--212
--00:38:07,980 ~-~-> 00:38:25,350
--bodies to the body. See how the body that candle stayed inside optimal trade
--entry 62 70.5 79. But Michael this spike through yeah did. So what, that's not
--
--213
--00:38:25,350 ~-~-> 00:38:34,350
--what your stock is going to be at. Just that's not gonna be there. Your stocks
--gonna be referenced over here on the anchor point. This move is your London
--
--214
--00:38:34,350 ~-~-> 00:38:44,220
--setup. Here's your London open kill zone down here. You zoom out a little bit so
--you guys can get a better perspective. But look what level it's keying off of 30
--
--215
--00:38:44,220 ~-~-> 00:38:54,060
--to 60. Okay, 30 to 60 was the level to take profit at and then it becomes an
--inversion level where the next setup takes place. So I'm gonna leave you with
--
--216
--00:38:54,060 ~-~-> 00:39:04,230
--that portion of price action, this study what's so significant, about 130 to 60
--why it was a catalyst for take profits. And why did the market turn around at
--
--217
--00:39:04,230 ~-~-> 00:39:14,220
--that level and show a London open kill zone. So with optimal trade entry rate at
--that level, and look at the reaction there. Hopefully you found this insightful.
--
--218
--00:39:14,610 ~-~-> 00:39:20,880
--I will catch up with you guys again, there will not be a live session tomorrow.
--I'm going to be doing some things with my son at his school so I will not be
--
--219
--00:39:21,300 ~-~-> 00:39:27,600
--able to do that. But I'll resume next week with you guys. Enjoy your weekend. Be
--safe and until next time. I wish you good luck and good trading

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