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ICT YT - 2017-10-19 - GbpUsd Discussion Post Analysis - rough edition.srt

Last modified by Drunk Monkey on 2022-12-22 08:36
1 00:00:42,510 --> 00:00:56,280 ICT: Well, good morning, folks. Hello, hello, hello. We're gonna be talking about the British Pound this morning. And how to get more action on your first
2 00:00:56,280 --> 00:01:14,070 date. Let's get in. Let's make sure you guys are paying attention. Alright, so let's go over to the hourly chart. Okay, and what we're looking at here is the
3 00:01:14,070 --> 00:01:23,430 60 minute chart of the British pound. And right away, I just want to ask you, yes, especially if you're a new trader, if you're new, if you have really no
4 00:01:23,820 --> 00:01:38,910 technical prowess or experience, when you look at something like this, it can be rather confusing. no rhyme or reason why it's doing what it's doing. And I'm
5 00:01:38,910 --> 00:01:51,990 going to hopefully try to dispel that. That feeling that you're probably having right now. I'm leaning largely on the fact that I've mentioned these things
6 00:01:51,990 --> 00:02:02,040 beforehand. So I know there's some out there that really like to poke fun at me or whatever. And that's fine. You guys are welcome to do that. But you it is
7 00:02:02,040 --> 00:02:10,800 what it is. Okay, everything I'm going to talk about here was explained in terms of method in terms of where the market should have gone this week, I'm actually
8 00:02:10,800 --> 00:02:19,680 going to refer back to how I test the market, which is a concept that I learned from Georgia and Joe, when I was coming up as a trader in the 90s. My
9 00:02:19,680 --> 00:02:33,210 appreciation of trading the index markets like s&p 500, that became a main staple of my trading. And a lot of the work that I adopted as a as a p trader
10 00:02:33,210 --> 00:02:43,830 came from by way of George and Jill. So George ngl is like my biggest mentor in terms of what I learned, specifically, the trading spoons. Now spoons is not a
11 00:02:43,830 --> 00:02:56,070 topic we're going to talk about at any time. But I'm saying that because he gave me an idea that At first, I thought it was stupid, it was ludicrous to even
12 00:02:56,070 --> 00:03:08,610 think this, but he will always start his day with a buy or a short, especially if he had an idea what the market should be doing. From a technical standpoint,
13 00:03:09,030 --> 00:03:19,110 he would go in. For instance, say he had an underlying gut feeling, if you will, that the market should go higher, he would go short, one small position, your
14 00:03:19,110 --> 00:03:28,980 one watt, one standard, or one futures contract, and see what the reaction would be as soon as you got in the marketplace. I usually admittedly, I try to do this
15 00:03:29,220 --> 00:03:39,660 at the beginning of the week. And if I'm being 100% honest with you, when I'm actively trading, I usually have about one loss per week. And it's usually on a
16 00:03:39,660 --> 00:03:50,070 Monday, or Tuesday. And it's because I'm either testing what I think may happen. And you guys actually got the chance to see that this week where I was in the
17 00:03:50,070 --> 00:03:59,460 marketplace looking for a specific thing to unfold in the British pound. And because I had in mentorship group knows this, I was looking for weakness on the
18 00:03:59,460 --> 00:04:07,590 pound. And a lot of them actually started sending me emails like no, you told us to look for this thing to go lower. Why are you trying to buy it? Well, I want
19 00:04:07,590 --> 00:04:19,320 to make sure I have the right side of the marketplace by conviction, personal convictions, and they're usually reinforced by me feeling adversity, especially
20 00:04:19,320 --> 00:04:27,720 if I feel at my notes in front of me. And I'm always having my notes in front of me before I sit down from the charts, because I can always quickly see something
21 00:04:27,720 --> 00:04:36,390 on a short term. Because I'm multi dimensional in terms of all timeframes. I want to really be focusing on what setups are most likely to occur based on a
22 00:04:36,390 --> 00:04:48,780 higher timeframe. So if I have that longer term or several days in advance perspective on where I think that market may go, I want to still sometimes go in
23 00:04:48,780 --> 00:04:58,050 and test it now. Many times my analysis will be wrong. Mike Francis, I think that the market is going lower like I did for British Pound this week before the
24 00:04:58,050 --> 00:05:00,330 market started trading. I
25 00:05:00,330 --> 00:05:12,600 could be in there trying to buy it, and then it makes me money. And I'm wrong on my analysis. So it gives me the opportunity to really to just move from the the
26 00:05:12,600 --> 00:05:22,350 stance of I have to be right, or a matter of it's correct or incorrect in terms of my trading, I don't want to promote that idea. Because that's not how I
27 00:05:22,350 --> 00:05:31,200 interpret interpret price action. I don't internalize trading success based on the definitions of being, quote unquote, right or wrong, it's all about whether
28 00:05:31,200 --> 00:05:38,850 or not my bottom line is increasing, or if it's going down. And if it's going down, I have to figure out what it is I'm doing wrong. First thing is stop
29 00:05:38,850 --> 00:05:47,040 trading. But the main thing is, is I have to know, what I'm doing is increasing my bottom line. That's all it matters to me. I don't care how many times I've
30 00:05:47,040 --> 00:05:56,700 been right in the road to get that everyone takes all this energy and effort in back testing and number crunching, and all those types of things. And I think
31 00:05:56,700 --> 00:06:03,630 while in the beginning, as a new trader, if you have no idea what you're doing, absolutely, it's beneficial. But to make a career of doing that, which is I
32 00:06:03,630 --> 00:06:10,650 think, with Larry Williams, my mentor, which I love him to death, he likes that kind of stuff. It's no he loves number crunching and all that business. But
33 00:06:10,650 --> 00:06:22,710 nothing changes, the the, the effect on what has already happened. None of that has any basis on what you're going to do in the future, because it's not going
34 00:06:22,710 --> 00:06:31,950 to walk forward exactly as it did in the past. That's what makes trading difficult. So what I'm going to teach you today are just a handful of things
35 00:06:31,950 --> 00:06:41,760 that I used for the cable trade idea. And you guys watch me do it. It was recorded the entire time from the time I entered a trade until it was collapsed.
36 00:06:41,790 --> 00:06:50,520 So I want you to see that the things I'm going to talk about this morning, and I'm going to try to get it done here before 10 o'clock right now, not 10
37 00:06:50,520 --> 00:07:00,750 o'clock, 10 1010 minute delay in starting. So I'm trying to make it as concise and short as I possibly can. But the main takeaways is this, I want you to
38 00:07:00,750 --> 00:07:10,800 understand that things that I'm talking specifically about today are generic things that tend to repeat themselves. And they do not need to have a career of
39 00:07:10,800 --> 00:07:20,850 back testing on them. Okay, they're just very simple principles that I've been able to ferret out of price action, and no one really likes to talk about it.
40 00:07:21,000 --> 00:07:28,530 Okay, and because they don't know about it, so now they know about it, because of the things I've talked about. But you don't see it in books, you don't see it
41 00:07:28,530 --> 00:07:39,150 in workshops, and other people don't teach it because they haven't been exposed to it. So with your pen and pad today, I really want you to be focusing on the
42 00:07:39,150 --> 00:07:49,950 generic concepts. And the fact that these are traits and price action that tend to repeat themselves almost on a daily, but certainly every single week. Now,
43 00:07:50,310 --> 00:07:56,790 that is not an invitation for you to go in and thinking, I'm gonna be a rock star, I'm trading every day, and I'm gonna be profitable every week, I can't
44 00:07:56,790 --> 00:08:04,860 promise you that. Okay, I'm gonna take losses in the future, I'm going to be wrong, you're going to be wrong to Okay, so please don't think what I'm telling
45 00:08:04,860 --> 00:08:19,710 you are, you know, there is no absolutes in trading, period. But these things tend to be more true than not. And there's a lot of things that you'll learn
46 00:08:19,710 --> 00:08:27,960 through my tutorials, which I can't compress in a small video today, that will help you build the criteria that you'd like to see in charts, and then trade on
47 00:08:27,960 --> 00:08:36,840 it. Okay. All right. So let's get right into it. Now for the preamble. Alright, with an hourly chart with Mt. Four. This is the reason why I like this platform.
48 00:08:36,840 --> 00:08:43,560 It's archaic. It's old. Okay, and I'm a dinosaur. I've been around for a long, long time. So I like that kind of thing. So some of you new cats, like all these
49 00:08:43,560 --> 00:08:52,680 other new platforms, and I just can't make the transition. So it is what it is. If you can hit Ctrl and tap why you get the day dividers on here. Okay, and if
50 00:08:52,680 --> 00:09:00,510 you have Sundays in your data, you'll see these double lines real close to one another close proximity. This is the first one to the right, that begins
51 00:09:00,510 --> 00:09:11,520 Monday's trading. Okay, so I'm going to define that real quick. This sort of vertical line. All right, right there. Now with that, I'm going to just add that
52 00:09:11,940 --> 00:09:19,410 going forward on each individual respective debt, because I'm going to take all the other lines off because to me personally, they're distracting. Not that it's
53 00:09:19,410 --> 00:09:21,450 necessary for you to be doing this is
54 00:09:22,740 --> 00:09:31,710 I have I have OCD, so it has to be dealt with or has to be very distracting for me. Alright, so we have the week here divided across the days and the first one
55 00:09:31,710 --> 00:09:44,220 begins Monday's trading. Now, I was looking for a reason to see if we had some momentum to push higher and take out Friday's high. I was ultimately bearish on
56 00:09:44,220 --> 00:09:53,790 cable but true to form sometimes the beginning of the week. They can make a run and take out previous highs or if it's going to go lower. They'll run down take
57 00:09:53,790 --> 00:10:07,050 out a previous low because we had such a nice response back here on 12th of October, I was willing to side with recent momentum, because this could have
58 00:10:07,110 --> 00:10:17,010 easily kept going higher. And that's fine, I would have been in there with something on was not a big position on the less but it was in, I was in it that
59 00:10:17,010 --> 00:10:27,060 way, if I was going to rally, if I was wrong, I had something in the race I had, I had something on the line, if you will, well, it didn't provide me any
60 00:10:27,360 --> 00:10:36,210 profitability, except for marginal gains, which you saw, it wasn't that big of a deal. Okay, I didn't suffer a loss. But from an ego standpoint, or from an
61 00:10:36,210 --> 00:10:46,590 analysis, an analyst stamp, or a quote unquote, Guru standpoint, it would feel out really looking in that I was wrong. So therefore, I'm ashamed. No, I don't
62 00:10:46,590 --> 00:10:54,240 feel that because I know those transitions are going to take place in analysis. So that's going to be the same thing you encounter when you do your own
63 00:10:54,240 --> 00:11:02,790 analysis. Don't be fearful of being wrong. If you are not willing to be wrong, you can't be flexible. And flexibility is necessary, because you may see
64 00:11:02,790 --> 00:11:14,550 something that changes the tone on your analysis, and you have to be well, permitting that, if you are locks that into, I have to be right from my first
65 00:11:14,550 --> 00:11:21,600 time, and I had to stick to that come hell or high water, that's gonna be problematic for you to be consistent and certainly profitable. So you have to
66 00:11:21,600 --> 00:11:31,320 have some measure of flexibility. And that comes by learning properly at means going through things process based, step by step by step not here, it all is in
67 00:11:31,320 --> 00:11:40,110 one video or two videos, and have fun with it. Good luck doesn't work like that. Okay, so we have our date of orders in here. Monday's trading, I was looking for
68 00:11:40,110 --> 00:11:47,610 a potential try to continue going higher ticket Friday's high, didn't give me any of that. Okay, started to consolidate. And right before this drop down, you
69 00:11:47,610 --> 00:11:57,720 can see I had collapsed the trade and go back and look at the video and look at all the stuff I shared on online, Twitter and on the forum. So it took out these
70 00:11:57,720 --> 00:12:06,900 equal lows. And that said, if it took out the the intraday low that was already in place, which was this one right here on Monday, go back and look on Twitter
71 00:12:06,900 --> 00:12:16,830 and look at my social media, you'll see it. If it does that, I'm going to switch gears, and I'm going to be focusing on shorts. Now, if anyone knows anything
72 00:12:16,830 --> 00:12:25,740 about my concepts, okay, you already know that I teach that if it's going to be a down day, the high the day is going to form between two o'clock in the morning
73 00:12:25,920 --> 00:12:35,550 and four o'clock in the morning, New York time, it's just that simple. You have about 70% likelihood that that's gonna happen. If you have the daily bias right
74 00:12:35,790 --> 00:12:46,560 now, if you're new at this was right by you and went right over your head. And I'll say it again, if the bias is correct, and it's going to be going down or
75 00:12:46,560 --> 00:12:59,910 going down closed day, the high of The day will form 70% of the time between two o'clock in the morning and four o'clock in the morning, New York time. Trust me,
76 00:13:00,570 --> 00:13:08,520 it seems simple. It sounds Well, it doesn't think it's not a big deal. That is exactly what you're looking for. You may not know it yet, but that's exactly
77 00:13:08,520 --> 00:13:14,580 what you're looking for. Now, you may not be able to trade in London, between two o'clock, four o'clock in the morning, you may be sleeping, you may be
78 00:13:14,580 --> 00:13:23,700 running a business. It is what it is I understand that. But it also aids in knowing what the New York session is going to do. Because if you know what the
79 00:13:23,970 --> 00:13:30,720 London sessions going to most likely do, and it unfolds as you expect it. In order to create the high that day between two o'clock four o'clock in the
80 00:13:30,720 --> 00:13:41,760 morning New York time, then chances are, there's usually about an 80% likelihood that New York continues in that same direction. So that also probably went right
81 00:13:41,760 --> 00:13:48,870 on top your head as a new trader. So I'll repeat it again. If it's going to be a down day and your bias is correct. And London creates the high the day between
82 00:13:48,870 --> 00:13:58,380 two o'clock and four o'clock in the morning, New York time. New York generally will have a small short term, it'll bounce or retracement up with down day and
83 00:13:58,380 --> 00:14:09,630 then create another optimal trade entry to go short on. Usually around 10 o'clock in the morning to noon, New York time, the daily low will form on down
84 00:14:09,630 --> 00:14:12,660 days, and then it will retrace and go into the clothes.
85 00:14:14,310 --> 00:14:23,130 everything I just said reverse it for when it's bullish. It's just that simple. I save a lot of time by doing it that way. It irks some people because I'm not
86 00:14:23,460 --> 00:14:35,430 so specific. But you're not you're not getting specifics from me because you I'm not going to do it. I'm going to demand you to do some work on your part. So we
87 00:14:35,430 --> 00:14:49,350 have our data binders here. I'm going to zoom in a little bit. And we're going to walk through the individual days. And we'll see the response of this of price
88 00:14:49,350 --> 00:15:01,020 action. Monday in here. indecisive day now, as a new trader. I want you to cancel out Monday. That's a no trading day for you now I already know some of
89 00:15:01,020 --> 00:15:09,390 you cats have been around here for a long time. Oh, here we go. You saying don't trade on Monday, I make all my money on Mondays. Fine, wonderful. I'm gonna pat
90 00:15:09,390 --> 00:15:16,350 on the back right now. It's not for you. Okay, it's for the new traders. I'm teaching where the highest probability scenarios are going to be. It's on
91 00:15:16,350 --> 00:15:23,700 Tuesdays and Wednesdays, simple done, do the math, go through all your back testing on that. And you'll see they're the best trading days. Okay? If you
92 00:15:23,700 --> 00:15:30,000 know, the directional bias. Now, if you don't use the directional directional bias, then your numbers and you look back, you're going to send me an email
93 00:15:30,000 --> 00:15:38,400 saying, your numbers don't hold up. Because you don't know how to use the directional bias concept that already taught. One simple approach. And the
94 00:15:38,400 --> 00:15:45,570 mentorship people didn't even see what I've taught you. They understand the concept of what I taught. But I didn't give that one simple little approach. And
95 00:15:45,570 --> 00:15:54,630 I did it just to prove that it can be done multiple ways, using the understanding of liquidity. Okay, so don't discount because I just gave a couple
96 00:15:54,630 --> 00:16:01,470 things in video recently, and you got to spend 18 $100, to come into my mentorship, which will never be offered again. You didn't miss anything there
97 00:16:01,470 --> 00:16:11,820 except for day by day by day me spending hours with them. I'm not going to do that with you all. Okay, I'm going to just point in the direction of where I
98 00:16:11,820 --> 00:16:21,720 think the price is going to go. And you should use what's already been taught to you in recent videos, and you will do exceptionally well. Now, looking at what
99 00:16:21,720 --> 00:16:31,770 we've had on Monday, okay, Monday is a missed day, we don't want to say anything about that day, I didn't lose anything. But I was not able to get position
100 00:16:31,770 --> 00:16:40,230 short. And I did not make anything going long. Okay, it's it's a marginal gain. Now, I'm not going to talk about it being a profit. So the next day, we had
101 00:16:40,230 --> 00:16:50,400 transitioned to expecting lower prices. True to my analysis, when I shared on social media and on my forum, we will be looking for shorts. Okay. So if that's
102 00:16:50,400 --> 00:17:03,060 the case, we have to be doing what waiting for it to rally, it has to rally for us to go short. We do not sell short when prices dropping. Everyone else is
103 00:17:03,060 --> 00:17:11,040 going to teach you this from the retail standpoint, because it feels good to do what's already in place in the chart. It's already starting to move in one
104 00:17:11,040 --> 00:17:20,730 direction. So therefore, that's confirmation now for you and it's not confirmation, it's an invitation to sit through retracement or be wrong. chances
105 00:17:20,730 --> 00:17:28,230 of you feel uncomfortable trade many times equates to the trades probably 90%. Done. And if you do get anything on the other side of the dealing spread
106 00:17:28,230 --> 00:17:35,400 numbers, if it looks profitable for you, it usually is fast and fleeting, it shows it for a second and you feel good. Boom, and it takes it away from you and
107 00:17:35,400 --> 00:17:43,140 then runs for your stuff or just if you don't have a stop, it just crushes you. And that's where you blow your account, you have to know what you're looking
108 00:17:43,140 --> 00:17:52,590 for, which is a reason why I do all these hind sight examples. Because unless you're knowing exactly what you're looking for, you'll never be able to identify
109 00:17:52,590 --> 00:18:01,380 it, you won't be able to see that smart money footprint if you've not been exposed to many examples of it, because they're generally the same thing, just
110 00:18:01,380 --> 00:18:09,420 repeating themselves and subtle little deviations from the normal that not all of them look exactly the same, but they're gonna have a lot of similarities
111 00:18:09,420 --> 00:18:09,990 among them.
112 00:18:54,930 --> 00:19:06,000 All right, so we have a hourly chart, and I just laid a fib on. And I want to just kind of like get you to train your eye to look for the price swings. Now
113 00:19:06,000 --> 00:19:13,020 I'm giving you a range from the highest body of the candles in here. That's all I'm looking for. It's not that I'm looking for this specific topics. I get this
114 00:19:13,050 --> 00:19:21,480 a lot. My questions and email are presented to me by way of Twitter. When I was accepting direct messages on Twitter, people are always asking why did you put
115 00:19:21,480 --> 00:19:32,520 your fib on that level? or Why did you put it on this or that? And that part looks ambiguous. It looks like it's inconsistent. It looks like cherry picking.
116 00:19:32,610 --> 00:19:40,140 But I want you to know before we go any further what I'm doing so that way you'll never have that problem. Or if you see someone tweeting about it in
117 00:19:40,140 --> 00:19:47,760 response, you know, it looks cherry picked or he's doing it he'll never have the balls to do that beforehand. I outlined everything you're saying you're seeing
118 00:19:47,760 --> 00:19:54,810 here today before the fact I gave you a specific price levels, told you how to do it yourself what the setup with the setups look like the times that they're
119 00:19:54,810 --> 00:20:01,440 going to occur. You can't get any better than that. It's better than my FX book. It's better than trading view. It's Better than doing anything because I've
120 00:20:01,440 --> 00:20:11,580 already told you what the outcome is gonna be days before it happens. And that's what I want to kind of like, build in your expectation with these concepts. Not
121 00:20:11,580 --> 00:20:21,690 in that you expect it from me. But once you learn how to use them, this is what you're able to do with it. Okay, so when I'm anchoring my fib, what I'm looking
122 00:20:21,690 --> 00:20:32,880 for is a high, if I'm looking for a retracement higher to sell short, I'm looking for a high that has the highest close or highest open. Now among these
123 00:20:32,910 --> 00:20:41,340 highs in here, I'm using this one here because the highest, it's higher than this close here. And it looks like it's the same as this close close on this is
124 00:20:41,340 --> 00:20:52,680 133 21. And the open on this candle is 133 21. So it's the same price. So I'm using that. And I'm drawing the fib down away from it. Okay, and I've already
125 00:20:52,680 --> 00:21:02,070 showed you how to use the Fibonacci settings with the optimal trade entry or ot primer video, it's on my YouTube channel, you can check that out. And now what
126 00:21:02,070 --> 00:21:16,650 I'm doing is I'm drawing or dragging the fib down to the lowest close or open. Okay, in price ranges. So we have this range here is nothing to talk about. I'm
127 00:21:16,650 --> 00:21:25,740 using this one here. And price starts to have a little bit of a retracement here. But this is where I collapse the Long's and it took another dive. Now when
128 00:21:25,740 --> 00:21:34,470 the day closes on Monday, we moved to the sidelines if we took out the daily low that I mentioned earlier that particular day. And then this right here, we start
129 00:21:34,470 --> 00:21:43,530 looking at this candles body as soon as this candle opens up, we start adjusting it again. And you all you're doing is looking to see until the rains completes,
130 00:21:43,530 --> 00:21:52,170 which on Tuesday beginning at eight o'clock my time New York time, that would start to new data to each one of these vertical lines is going to delineate and
131 00:21:52,170 --> 00:22:04,560 this particular platform, and for those that are asking, this is for x ltds. demo account for x. l as in Larry Thompson coming to us and Tom and d is in
132 00:22:05,730 --> 00:22:17,730 drawdown. Okay, so forex Ltd, now I'm going to draw it to the lowest body which is going to be this candle here. Okay, right in there. Now that's that's the
133 00:22:17,730 --> 00:22:30,210 entire range I'm looking at from here to here. Now on this particular day alone, doesn't do much at all. But this is the entire parent price swing from the body
134 00:22:31,230 --> 00:22:38,520 to the body highest and the lowest body. Now in that parent price swing, I've mentioned this already in few videos that we've done so far, since I've came
135 00:22:38,520 --> 00:22:51,930 back on public forum. Every price wing has subordinate, okay, price swings within it. So if this is the parent price swing, there's going to be more of a
136 00:22:51,930 --> 00:23:02,280 smaller fractal inside that larger one. And you see that with this price swing here. So from this high, down to this low, that's another parent, I'm sorry,
137 00:23:02,280 --> 00:23:11,220 it's another price when its subordinate, or is operating under the control of what this larger one is. This one sets the tone for the market go lower. So
138 00:23:11,220 --> 00:23:19,080 inside this larger range, there's a smaller range that's going lower. So this is where we start moving our fib to more appropriate price levels. It's not
139 00:23:19,080 --> 00:23:30,900 ambiguous, it's not formfitting is exactly what we do going forward. So we adjust the fib to the highest body again and all these candles in here. Put it
140 00:23:30,900 --> 00:23:39,840 right here, it looks like it's the highest one and see what that opens 3305. And the token on here is
141 00:23:40,710 --> 00:23:52,320 335 again, so it's the highest one. So from from this body heist, and this body's lowest. This is exactly what the framework framework would be for
142 00:23:52,320 --> 00:24:04,200 Fibonacci. Now fib is not the answer. It just helps you determine where prices move to an extreme for overbought or oversold. That's it focusing specifically
143 00:24:04,290 --> 00:24:16,440 the three price levels 62% and the 70.5 level and the 79% levels respectively. So let me zoom in a little bit here. You can see a better picture of that. Right
144 00:24:16,710 --> 00:24:25,020 there. Okay, so we have the range high and the range low define what these candles. That's why folks that have gone not really studied my stuff. They just
145 00:24:25,020 --> 00:24:34,230 look at what I share a picture, or they see something that's been shared you by way of social media, they'll look at this and say, Well, you know, this looks
146 00:24:34,230 --> 00:24:43,800 like it's cherry picked. It's not. These are very specific role based ideas that if you stick to them, you'll see that's exactly how the markets gyrate they go
147 00:24:43,800 --> 00:24:55,200 back and forth to these levels all the time. Now, bias again, was I was looking for 131 45 this week as a weekly objective that is on my free forum at forum dot
148 00:24:55,230 --> 00:25:05,370 the inner circle trader calm, everyone's allowed to get in. I just can't approve everyone right away. This range, high to this range low. That's what we're
149 00:25:05,370 --> 00:25:12,750 defining. we're ignoring all the wicks, notice that I could care less about the wicks the bought the books will tell you, but you're fit here, in right here,
150 00:25:12,810 --> 00:25:23,700 and then you'll be trading empowered, and you're not trading power doing that. So what you're going to be focusing on is the Fibonacci level 79%, trace level.
151 00:25:25,020 --> 00:25:35,040 And the 62. Right here, notice, like, it gives you specific price levels. I'm not reaching out there in space and trading, supply and demand zones, because I
152 00:25:35,040 --> 00:25:42,900 have no faith in that. And once you really study what I teach, you'll see it's beyond that light years. It's way beyond supply and demand, supply and demand.
153 00:25:43,290 --> 00:25:50,640 For Beginners understanding about support resistance, I think it's gotten married. Okay, it helps communicate that idea. But that's not what makes the
154 00:25:50,640 --> 00:25:58,770 markets work. Okay, believe me when I tell you, if you spend time with me, when you're done training with me go look at supply and demand, you'll see right away
155 00:25:58,770 --> 00:26:07,080 that that's nowhere near what you learned here. And again, I'm not trying to measure up against anybody else. I'm just saying, I get this a lot in response.
156 00:26:07,440 --> 00:26:16,560 Or someone will say, Well, yeah, he's trading a supply zone or demand zone, it might be what would be defined as a supply and demand zone at one particular
157 00:26:16,560 --> 00:26:26,490 time or another. But not all the things I trade are going to have that same element. Like I cut through candles, they teach you not to do that. Because you
158 00:26:26,490 --> 00:26:35,910 have to have context in the marketplace, you have to know what the market is trying to do. And it's not based on an old or fresh supply zone or demand zone.
159 00:26:35,940 --> 00:26:44,070 Okay. I deal with specific price levels. Okay, there's three to choose from. So there's still a little bit of a choice in the matter. But I always go with the
160 00:26:44,070 --> 00:26:51,360 62% it makes it easy for me. I don't have to guess I ain't got to worry about it. Okay, so if I know if I want to be selling short at 62% retracement level.
161 00:26:51,720 --> 00:27:02,580 Okay, I'm looking at this price level right here at 133 82. Look at the price I got on that trade 133 81. It was trading at that level at the time I put the
162 00:27:02,580 --> 00:27:15,030 trade on, boom, I'm done. Did I get the other four pips of drawdown that I had in the trade? I could have. I wasn't worried about it. The 70.5 level, which is
163 00:27:15,030 --> 00:27:26,580 a sweet spot, that's exactly where price goes, hits it right up here, bang nails it goes into it and then take it takes a dive. This range from here to here
164 00:27:26,820 --> 00:27:31,380 defines this optimal trade entry right there. The time of the day that this occurs
165 00:27:37,650 --> 00:27:46,710 is four o'clock in the morning, one Tuesday. Okay. So that's what time is, between two o'clock and four o'clock in the morning, the daily high or low
166 00:27:46,710 --> 00:27:52,710 forms, if I'm expecting down prices, too high is going to form between two o'clock or four o'clock in the morning. Right away, you're thinking wow, you
167 00:27:52,710 --> 00:28:01,200 know, that's still, when you do it between two o'clock, four o'clock, when two things agree. Price, which is the optimal trade entry, it's got to get into this
168 00:28:01,200 --> 00:28:11,070 area up here. Okay, it's got to retrace up to at least 132 82, or 132 80 is a nice round level we'd like to talk about in terms of an institutional
169 00:28:11,070 --> 00:28:19,950 sponsorship level where they go in, they put the orders around that level, or they'll reach for that level of clear out all liquidity, just below it. Okay,
170 00:28:20,010 --> 00:28:28,680 and I'm not gonna say anything more about it than that. But the point is, two things have to agree for your trade, the time element of the day, which is the
171 00:28:28,680 --> 00:28:38,880 kill zones, I teach between two o'clock and four o'clock in the morning. 90% of the time, all winners will have the higher low form. In those specific time
172 00:28:38,880 --> 00:28:50,010 windows. It's only 120 minutes. Okay. But in there's 120 minutes, a lot of magic can happen, especially if you know what you're doing in terms of directional
173 00:28:50,010 --> 00:28:59,880 bias. Now, that's the time you blend that with price, which is it's got to get to this level here. That's where the Voodoo happens. Okay, that's where things
174 00:28:59,880 --> 00:29:12,270 go crazy in your analysis, where you're dialed in, and the markets where we yet and they respond very strongly in your directional bias. And your analysis will,
175 00:29:12,330 --> 00:29:21,390 you know, basically pan out in your favor, and you spend very little time below the dealing spread. You'll also notice that because price is going up. It
176 00:29:21,390 --> 00:29:28,980 doesn't feel good to be doing that as a new trader, because he feels like, well, what if it keeps going up? Well, it could. And that's why he used to stop. But
177 00:29:28,980 --> 00:29:37,470 for those individual to have traded for a long time, you look at your losing trades, or the ones that didn't perform well. I guarantee you if you were
178 00:29:37,470 --> 00:29:44,730 chasing the price, if you just would have entered when it was going the opposite direction where you were expecting it to go. That's how you win this game,
179 00:29:44,880 --> 00:29:54,120 because that gives you the ability if you are wrong. It gives you the opportunity to get out many times with a scratch. And that's why it's important
180 00:29:54,120 --> 00:30:02,940 to be selling on up moves in buying on down moves. That's how institutional trading is done. They do not Chase breakouts, they don't chase strength, they
181 00:30:02,940 --> 00:30:14,010 are always buying on down ticks, they have to do that. That's their models, every large institution, they're told that they cannot execute. Unless price is
182 00:30:14,010 --> 00:30:23,340 on the downside, it's moving down before they execute on buys. Period. It's as simple as that they cannot sell short, unless prices rally up, they got to do it
183 00:30:23,340 --> 00:30:33,570 on an uptick. They cannot do it. That's rule based ideas. It's it's, it's in stone that cannot be deviated from. Now, you're going to meet about 15 different
184 00:30:33,570 --> 00:30:39,630 prop traders that say they do a million dollars a year on social media. And they're going to say what I just said doesn't make any sense or any
185 00:30:39,630 --> 00:30:51,450 institutional this anti institutional that don't, don't believe anything I say, test it. Don't believe me? I'm, I'm a demo, pizza delivery guy. Okay, whatever
186 00:30:51,450 --> 00:30:58,680 you want to think of me, all I'm asking you to do is spend the time and in looking at what I'm teaching you. And then you make the assumptions and
187 00:30:58,680 --> 00:31:07,530 decisions based on that. And don't let anybody else make the decisions for you. So here we have one example, you watched me execute in a video, okay, I didn't
188 00:31:07,530 --> 00:31:15,450 give you a screen capture on trading view and wait for the chart to be able to update later on. I specifically outlined it and now even gave you the model what
189 00:31:15,450 --> 00:31:21,600 I thought the daily range was gonna look like and we'll look at in a minute. But the reaction price, look how fast it moves away from there doesn't spend a lot
190 00:31:21,600 --> 00:31:34,830 of time there hits it and runs away and then price starts to drop down, then what does it do at this daily low right here? That's 14, or basically, what's at
191 00:31:34,830 --> 00:31:49,500 nine o'clock in the morning. Sure. Got that. Right. That's 10 o'clock in the morning, 10 o'clock in the morning. Excuse me, I have a Live account that I got
192 00:31:49,500 --> 00:31:58,170 to make sure I'm looking at the time because the time doesn't match up with forex ltds. But this is 10 o'clock in the morning on Tuesday. And between 10
193 00:31:58,170 --> 00:32:06,420 o'clock and noon, New York time, the opposite end of the daily range will will form. Okay, so in other words, we've seen a down day, we expected a down day I
194 00:32:06,420 --> 00:32:16,890 outlined with down day and the low of the day forums between 10 o'clock and noon, New York time, think about what that means for you. If you know that
195 00:32:16,920 --> 00:32:26,040 there's a likelihood for price to continue that long in the day. Yes, take some profits along the way, like you saw me do in the video, I want to Tuesday's
196 00:32:26,040 --> 00:32:29,460 example, trading the British Pound short, I have
197 00:32:30,179 --> 00:32:38,369 taken profits along the way, because I could be wrong, it might not get down here. But you have to have something in you have to have a hook on the you know
198 00:32:38,369 --> 00:32:48,209 the line in case you get another big run, okay, leave some leaves something in, in the trade doesn't have to be a whole lot. But at least leave something on
199 00:32:48,209 --> 00:32:54,929 there. And I had a very small portion on. And I didn't get all the way down here. Okay, but I had a very small portion reaching for my objective, my
200 00:32:54,929 --> 00:33:05,219 objective was a little bit higher than that. I will not look for all this range in here. 90% of the time, I won't do it. Because I feel good about getting out
201 00:33:05,249 --> 00:33:14,309 where the probabilities are so high my favor that my objectives will be met, I could care less about being Mr. Perfect. And I come across as a character in the
202 00:33:14,309 --> 00:33:23,579 past you given the impression that I'm getting the highest high and the lowest low of the day, I might call them by price levels within a pip or two. But I'm
203 00:33:23,579 --> 00:33:30,509 never ever ever doing that back to back. I'm never holding it from the highest to the lowest low. It doesn't work like that. I don't have the comfort level to
204 00:33:30,509 --> 00:33:37,469 do that. And I've been doing for 20 plus years, you would think it would happen. But it just doesn't. It just makes sense for me to be doing what I do take
205 00:33:37,469 --> 00:33:48,179 profits along the way. Okay. And that's what I teach. It removes that as well, that mental capital, okay increases. As you go through the trading, you fund
206 00:33:48,179 --> 00:33:56,759 your position and take something off. Everyone else teaches you to think about what the risk reward model was when you first started the trade. But that's a
207 00:33:56,759 --> 00:34:06,029 myth. It always changes as soon as you change your stop loss and trim it down. The whole risk reward model changes right away there. So why aren't you making
208 00:34:06,029 --> 00:34:14,039 an argument when you do that? Because it doesn't fit the well the argument you're trying to make with other people when they show profitability. So it's
209 00:34:14,039 --> 00:34:21,659 all about money. Okay, it's all this game is price moves where the money is and you do this to make money. There's no other reason to do it. You want to be
210 00:34:21,659 --> 00:34:30,179 smart, go to school, get a PhD and then come back and tell me how smart you are. But in trading, impress me with your consistency. That's all and that's what you
211 00:34:30,179 --> 00:34:37,079 should be focusing on not being right not getting the highest high not getting the lowest low. So price makes that low comes off the low and goes into the
212 00:34:37,079 --> 00:34:45,359 trading rate about where I had the clothes expected on a daily range and I'll look I'll show you in a second. But notice what happens it consolidates off the
213 00:34:45,359 --> 00:34:54,209 low consolidates to the daily ranges this it opens here. It opens. trades up makes the high the day London between two o'clock four o'clock in the morning
214 00:34:54,359 --> 00:35:05,579 and makes the low at 10 o'clock in the morning. specific times. That's like WISC clockwork it's perfect. You can't get any better than that. Okay, then it trades
215 00:35:05,579 --> 00:35:19,529 off the low into the close now where this thing closes let's take a look at it. I think it's this one here look at that one there you go this is what I had on
216 00:35:19,529 --> 00:35:29,069 the chart and I had a guy email me said that I added I added this on my recording. It did not you can see that you can move it around. Okay, so I
217 00:35:29,069 --> 00:35:40,679 thought there was where the opening was I put it right there. And I expected the price to move right from the opening up to me 33 pips I teach and I have taught
218 00:35:40,949 --> 00:35:51,509 that when the days are going to be bearish from the opening price at midnight, get that opening price if you're shorting at 30 pips or specifically 33 pips to
219 00:35:51,509 --> 00:36:03,119 that opening price up. That's what this blue line or blue shaded areas, okay, this whole rally or not rally but this range in price is Power of Three. And
220 00:36:03,119 --> 00:36:16,619 there's a lot of things on this chart but the all this is highlighting and get this off. This is highlighting just 33 pips right there. Okay, so priced from
221 00:36:16,619 --> 00:36:27,839 the opening price, it does what it rallies up. Well, let's see what the opening prices. We'll just call it three to 57 in the high
222 00:36:36,389 --> 00:36:50,519 3287 30 pips, bingo. Now, I said this to somebody on social media days before it happened. And it's one of my critics, okay. And I said, in fairness, I'm going
223 00:36:50,519 --> 00:36:59,849 to show you something, and I promise you, you'll learn something from it. I didn't make this example because it worked out. If you go through my tutorials,
224 00:36:59,849 --> 00:37:08,909 and there's 1000s of you, 10s of 1000s of you that have done this, you've gone through my stuff. I taught that 30 pips from the opening price above it, that's
225 00:37:08,909 --> 00:37:18,539 where the algorithm that runs price. And that's what really goes on, folks, it's not what you think it is, the price will expand up 30 pips, that's where the
226 00:37:18,539 --> 00:37:25,679 market will create too high. Now what I just teach you, it's going to happen on down days between two o'clock and four o'clock in the morning, New York time,
227 00:37:26,249 --> 00:37:34,919 it's going to what price level Michael? Well about 30 pips above the opening price. That's the range it operates in. But you have to get a measurement on how
228 00:37:34,919 --> 00:37:45,569 far it could go to really become like an overbought condition. I am not plotting stochastic or RSI on my chart to get overbought oversold, I'm using using the
229 00:37:45,569 --> 00:37:53,429 basis of understanding the recent price range, because that's what really your indicators are doing. They're looking back a certain number of bars. And
230 00:37:53,429 --> 00:38:01,919 calculating that range high and low in factoring where Price is Right now in relationship to that range to determine whether it's overbought or oversold. I
231 00:38:01,919 --> 00:38:09,299 don't need that stuff. I can look at price action, I teach my students to do the same thing. If I can see where the recent high is that we're working in? Well,
232 00:38:09,299 --> 00:38:18,299 this is the most recent price action here. We had a nice little drop down. Okay, so there's an impulse leg that we can work with here. And we can draw fibs on
233 00:38:18,299 --> 00:38:29,669 net to get a rough idea where it should go. Then we also had the higher time frame hourly chart which had that fib on it. Right here, we knew that 33 or at
234 00:38:29,669 --> 00:38:39,209 least I'm showing you now, how I did it. 3380 is an institutional price level. I taught you that in the recent videos on YouTube. Those levels are like magnets.
235 00:38:39,299 --> 00:38:49,169 And they also act like magnets. When you try to put a well, let's say opposites attract. So when you put the same polarity of magnet together, what happens it
236 00:38:49,169 --> 00:38:58,709 repels. Well, that same effect happens here. That's what the magnets Okay, they can draw price up to it. But then when everything agrees, the poles became
237 00:38:58,889 --> 00:39:08,609 become the same, they repel price it pushes it away. So if we go back to this example, this blue shaded area is exactly 33 pips from the opening price. I
238 00:39:08,609 --> 00:39:18,089 challenge the people that have not gone through my work to do this on a daily basis. study how much price moves away from the opening price at midnight, how
239 00:39:18,089 --> 00:39:28,259 much it does this, how many pips up or below it, and keep a running total that for about two months, and you're gonna see on the best trading days, and I'm not
240 00:39:28,259 --> 00:39:36,719 teaching you how to get the best trading days by doing this example. This study point just is going to highlight when the things are aligned for price to move
241 00:39:36,719 --> 00:39:46,949 in a specific direction. And when that occurs, these things occur 90% of the time, time of day, two o'clock to four o'clock in the morning, New York time.
242 00:39:47,609 --> 00:39:57,419 What price up to a fib level and inside this range. Now what does that mean? The fib could line up with something down here and it doesn't go all the way to 33
243 00:39:57,419 --> 00:40:06,059 pips or 30 pips. It may go up just like 20 For 15 pips, but if it overlaps with an area, that would be like a fib, and it's between two o'clock, four o'clock in
244 00:40:06,059 --> 00:40:15,599 the morning, and it's bearish, that in itself is enough to make the high the day. Now, what happens if you didn't execute, and you just couldn't get in there
245 00:40:15,659 --> 00:40:26,969 to execute on that? No problem. When price gets down to the opening price, okay, you can sell short and any rally away from the opening price as price moves
246 00:40:26,969 --> 00:40:44,189 away, like this candle right here, let me zoom in this candle right here. When price hit it, okay, and move away from it and hear that movement in price. Any
247 00:40:44,189 --> 00:40:53,969 movement away from that opening price, as long as it's above it, or at it, you can sell short using my rules. If you trade below the opening price, you have to
248 00:40:53,969 --> 00:41:03,929 wait for retest and you get it here. You only get many, many times not even this three test. But if it does, and you're right on your bias, and you're not going
249 00:41:03,929 --> 00:41:11,609 to know that until the trades done, but if you feel convicted about it, like I'm trying to permit the idea of thinking, you're going to be able to sell short
250 00:41:11,609 --> 00:41:19,949 there, and your stock has to be above the high of the day, it has to be above it. Okay? Don't get fancy in here and try to say, Okay, well, here's a high,
251 00:41:20,069 --> 00:41:26,429 here's a low, and I'll use this at nine cent tracing level, and I'll put a stop above that. Don't do that. Your stops got to go all the way above the daily
252 00:41:26,429 --> 00:41:30,689 high. Okay. Now what happens, if you
253 00:41:30,780 --> 00:41:43,830 can't be up at London, and you still think this is a good idea? Well, what you can do is, you can put a sell stop in place, you wake up at midnight, New York
254 00:41:43,830 --> 00:41:50,640 time, and wait around till about 1230 or set your alarm for like one o'clock in the morning, even better. One o'clock in the morning, if we're above the opening
255 00:41:50,640 --> 00:42:03,300 price, put a sell stop right at the opening price, less one tick or one PIP and then use a 30 PIP stop loss and you won't know what the highest, okay, but what
256 00:42:03,300 --> 00:42:13,350 will happen is is usually the high will form and it goes back down below the opening price, autopilot. Nothing needs to be done except for place. The cell
257 00:42:13,350 --> 00:42:19,770 stop in there. Now cell stop many times you're gonna be thinking as a new trader that's protecting your long position. Yes, but you can also use it to enter a
258 00:42:19,770 --> 00:42:29,280 short and so if there's no other orders in and you place a sell stop in there, price trades down to it, it executes you short, now you're short. NET short,
259 00:42:29,280 --> 00:42:39,870 basically. And yet use a protective buy stop in that. So you have what? You're trading London on autopilot. You're not getting all this better, Phil, but who
260 00:42:39,870 --> 00:42:48,720 cares? Because you have a lifetime work within you running a business. You have a marriage You got to keep okay. You have things you got to do. You can't do it.
261 00:42:48,750 --> 00:42:58,290 Okay, well, that's Give me a reason. Now you can do it. There's no excuse. There's no excuses for you not to participate with the things I teach. But in my
262 00:42:58,290 --> 00:43:10,620 personal opinion, it's worth losing sleep to watch this stuff unfold, because it teaches you so much about price action. Okay. So now, there's the the model I
263 00:43:10,620 --> 00:43:22,680 used for the closing price right there. And I'm going to put that in here. Okay, I'm just gonna rough it. Right about there. That's where I had the the closing
264 00:43:22,680 --> 00:43:38,310 price. We walk forward. Let me see if I got the dividers in him. Not sure if I have one. Yeah, here's the horizontal line. Look where the price closes. On that
265 00:43:38,310 --> 00:43:46,680 day, it starts a new date, right where I had outlined. Now what I write about all this range down here, No, I wasn't right about that. But I wasn't right
266 00:43:46,680 --> 00:43:54,150 about the day. I was worried about the bias, I was worried about my entry. And that's enough. I don't have to be perfect. And my weakness. I've already been
267 00:43:54,150 --> 00:44:03,240 very public and candid about this. My weakness in my trading is my exits. And I've always been trying to find ways to improve that. And every time I think I
268 00:44:03,240 --> 00:44:11,070 got it, I just go back to what I'm comfortable with what you see me do. I scale out logical positions. And I always exit before I think where it's going to
269 00:44:11,070 --> 00:44:18,600 ultimately go. And that's it. And I think it's ingrained in me from Larry Williams because that's his exit strategy to you know, as long as it's in his
270 00:44:18,600 --> 00:44:28,740 favor. It's like bailout. It's my version of his bailout, bailouts the first profitable opening? Okay, sure. Wonder what that was. So let's go back over to
271 00:44:28,740 --> 00:44:36,510 this hourly chart. And we'll wrap this video because we're going a little bit long winded. So price has that big move and I told you I was gonna sit on the
272 00:44:36,510 --> 00:44:43,440 sidelines, okay. And on the next day, we have a little bit of a consolidation day. But the main thing I want you to look at is how price each day takes out
273 00:44:43,440 --> 00:44:51,360 the previous day's low. Does it here. Here's this days here, and we take it out here then we have a nice little retracement. But what is it retracing up to?
274 00:44:52,110 --> 00:45:07,470 What did it do here? Is there anything significant about this? When we have a rally up here? If we go and use a fib On this. We had the highest body all the
275 00:45:07,470 --> 00:45:18,840 way down to the lowest body rate. And here were the lowest body and the highest body. Does it give us an optimal trade entry in here? No. Did you need this last
276 00:45:18,840 --> 00:45:28,110 trade? No, you didn't need that. This day here could have been a losing day, it could have been a profitable day, depending on what you do with it. Is it bad
277 00:45:28,110 --> 00:45:36,660 that you missed anything? No. Is it bad? Did you miss this trade based on an optimal trade entry not being there, based on this particular timeframe? No, you
278 00:45:36,660 --> 00:45:47,370 didn't miss anything. But if you know that there's a likelihood for price to have gone. Just back above this high here for false breakout or run stops out
279 00:45:47,370 --> 00:45:54,270 for those they're trailing stop loss orders tight. Now as they say they sold short up here. And now their stock would be here, it went right to that level,
280 00:45:54,690 --> 00:46:01,230 and then starts to drop down. So we're gonna look at this little area right here. And you can see we ran out yesterday's low with this move here. But
281 00:46:01,230 --> 00:46:15,330 ultimately, I said 131 45 was the level I was looking for for the week. 131 45 is right. There, we went down just below it by a little bit. And look at the
282 00:46:15,330 --> 00:46:26,310 reaction off of that. This movement right here. Now, I'm not going to go into why I believe 131 45 was a good level here, just know that it was before the old
283 00:46:26,310 --> 00:46:30,570 low. And again, that's enough. This is the old low back here.
284 00:46:31,230 --> 00:46:39,480 It may not go down below that low. But if it gets back down in this area, that's good enough for me. And that's all I look for what looked for 131 45 because
285 00:46:39,480 --> 00:46:46,770 it's one little five level below the 50, level 3150. And it just makes sense for me to reach that level. And it's as simple as that. Try not to read more into
286 00:46:46,770 --> 00:46:54,930 it, you don't need to have every answer. Just know that that's a good level of reach work and old Whoa. But it may not have to go through it. Okay, and that's
287 00:46:54,930 --> 00:47:01,740 enough of a range from here, down to there. And you watched it unfold. I gave it to you in detail. I told you how to trade the setups each day. But I want to
288 00:47:01,740 --> 00:47:11,070 look at this little portion price action right there. And give you something to think about and we close. I know this is a little bit of a longer video, but I
289 00:47:11,070 --> 00:47:23,460 haven't. I didn't get a chance to talk to you guys yesterday. And I didn't have any videos up. But inside this little block of price action in here. Okay. Let's
290 00:47:23,460 --> 00:47:35,220 do this. That is the beginning of the day. So we're going to go to four o'clock in the morning. On this platform is midnight, New York time, by the way. So if
291 00:47:35,220 --> 00:47:46,230 you ever see four on forex, Ltd, in my videos, that's delineating midnight, New York. Okay. So let's zoom in a little bit in here. And we have the opening price
292 00:47:46,590 --> 00:48:02,610 right there. So the opening price comes in at 3212. To 3212. We have price opening up and the end, the actual high ends up going to be 3225 to 3225. Excuse
293 00:48:02,610 --> 00:48:14,790 me, is the highest point reaches post midnight New York time creates the Hi. I'm gonna say there's nothing up here to give us a reason to justify a move here. No
294 00:48:14,790 --> 00:48:23,010 problem. Price does what it breaks down. It does what? Yeah, breaks down below what the opening price of midnight. So we're going to draw a horizontal line on
295 00:48:23,010 --> 00:48:35,760 there. Okay, and again, what was the what was the theme for this week? expect 3145 expect lower prices on cable? Okay, fine. That means any rally, we want to
296 00:48:35,760 --> 00:48:46,380 look for suspect price action onwards, it's going to go down. So the opening price is here and use that same idea I told you earlier. If you can't be up to
297 00:48:46,380 --> 00:48:53,760 trade this live, and there may or may not I'm not going to tell you anything mentorship would see this stuff but you may not say you don't see anything in
298 00:48:53,760 --> 00:49:02,790 here to justify selling short here. Great, no problem. What's the rule saying? It's got to go back to the opening price. Okay, you can be a seller Still, if
299 00:49:02,790 --> 00:49:13,290 you do a sell stop below the opening price. That's just as well as it's doing any other trade. Now. Look what's going on inside this little area price post.
300 00:49:13,740 --> 00:49:22,830 Midnight time right in here. Look closely before I draw any anything on the chart. I want you to see it like that.
301 00:49:35,730 --> 00:49:52,950 fifth highest open or close right here. down to the lowest body open or close. We're going to zoom in right there. already here to trolls. Oh Here he goes.
302 00:49:53,070 --> 00:50:03,870 Don't mind sites though. It's the same rules. Okay. It's the same stuff. You're going to do this every single trading day. In your own charts, okay. So let me
303 00:50:03,870 --> 00:50:19,500 put that vertical line back on side to get that box off. And it was right where I needed to be at. Scrub this over here. Right there, it's midnight. So we have
304 00:50:19,500 --> 00:50:29,730 a rally up. And this really should be right there. The opening price of that candle, this candle right here is opening. That's the opening price at midnight.
305 00:50:30,210 --> 00:50:42,510 So anything above it, you want to sell it. And if it trades back to it. Right here, it's acting as resistance and optimal trade entry. Right in here. Right
306 00:50:42,510 --> 00:50:58,050 there. Okay. There's your sell off, and finally reaches for what target 131 45 and then ultimately does what it bounces. Knock where it's at now. Personally
307 00:50:58,050 --> 00:51:03,840 gun to my head, because I'm sure everybody wants to do this. What's going to be right now? ICT? What's going to be written down? I don't care what's already
308 00:51:03,840 --> 00:51:10,680 happened to me what's going to happen right now? I don't know. I don't know what's going to do. Why? Why am I feeling comfortable telling you? I don't know.
309 00:51:10,710 --> 00:51:18,360 Is it because I'm ducking and weaving? No. Because it's already hitting my objective. I don't know what it's gonna do now. Can it go lower? Sure. Could do
310 00:51:18,360 --> 00:51:27,780 I want to trade it again now? No, because it's already hit my objective. So there has to be a battery life that's definable in terms of like, this is what
311 00:51:27,780 --> 00:51:37,410 it begins. And this is where it ends. There's a lifecycle to your trade. And mine has been expired. It hit my objective. So I don't have another opinion yet.
312 00:51:37,800 --> 00:51:48,090 When new technicals shape up and provide me reasons to frame one. I'll share it, but for now, it This is my one shot, one kill. This is what I look for every
313 00:51:48,090 --> 00:51:57,450 single week. Did I get the absolute low of the week? Well, the low comes in in this platform. I'm not sure what your low was. But and in fact, if if you
314 00:51:57,450 --> 00:52:09,240 wouldn't mind on twitter at my Twitter handle at I underscore m underscore ICT if you would tweet your lowest low today, on GBP USD, I appreciate it. That way
315 00:52:09,240 --> 00:52:21,240 we can get a feel for how much of a despair it is across all different platforms live and demo. But the low comes in at 131 37. Okay, so I'm off by eight pips.
316 00:52:22,470 --> 00:52:36,030 On the weekly low. I was off by four pips, near the highest high of the day, entering short. Now, to me, that's pretty friggin precise. And that's really
317 00:52:36,030 --> 00:52:45,240 precise. You couldn't convince me when I first started that you can get within 50 pips of a daily high and low, two times a year, because I was taught prices
318 00:52:45,240 --> 00:52:54,270 random. And this is the last thing I'm gonna say in closer today's session. There's absolutely nothing random about price action. There's zero randomness,
319 00:52:54,270 --> 00:53:05,370 the price action. Today, I've given you very clear Hallmark examples that are generic characteristics that repeat themselves every single day, every single
320 00:53:05,370 --> 00:53:16,230 week, week in and week out, day in and day out. ICT stuff is always there. Now, am I going to participate in every setup? Absolutely not. Am I going to show you
321 00:53:16,230 --> 00:53:25,170 examples that did not participate in I did today. But you watch me do something that I outlined before the fact and anyone that says I have to do this or do
322 00:53:25,170 --> 00:53:32,340 that. I'm not answering to those individuals. I don't have to do this. I don't have to do any of these things. I do it because I enjoy it. I'm not going to
323 00:53:32,340 --> 00:53:39,870 jump through hoops for anyone. But I want you to know this and write this in big bold letters in your notebook and underline it, highlight it, date it sign your
324 00:53:39,870 --> 00:53:51,960 name next to it. price action is not random. It's manipulated. And until next time, I wish you good luck and good trading.