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edited by Drunk Monkey
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2 -00:00:42,510 ~-~-> 00:00:56,280
3 -ICT: Well, good morning, folks. Hello, hello, hello. We're gonna be talking
4 -about the British Pound this morning. And how to get more action on your first
1 +(% class="hover min" %)
2 +|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
3 +|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
4 +|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
5 +|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
6 +|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
7 +|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
8 +|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
9 +|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
10 +|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
11 +|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
12 +|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
13 +|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,
14 +|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
15 +|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
16 +|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
17 +|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
18 +|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
19 +|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
20 +|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
21 +|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
22 +|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
23 +|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
24 +|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
25 +|24 |00:04:58,050 ~-~-> 00:05:00,330 |market started trading. I
26 +|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
27 +|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
28 +|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
29 +|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
30 +|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
31 +|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
32 +|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
33 +|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
34 +|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
35 +|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
36 +|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.
37 +|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
38 +|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
39 +|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
40 +|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.
41 +|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
42 +|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
43 +|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,
44 +|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
45 +|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
46 +|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
47 +|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
48 +|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.
49 +|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
50 +|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
51 +|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
52 +|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
53 +|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
54 +|53 |00:09:19,410 ~-~-> 00:09:21,450 |necessary for you to be doing this is
55 +|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
56 +|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
57 +|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
58 +|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
59 +|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
60 +|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
61 +|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
62 +|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
63 +|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
64 +|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
65 +|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
66 +|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
67 +|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
68 +|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
69 +|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
70 +|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
71 +|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
72 +|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
73 +|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
74 +|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
75 +|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
76 +|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,
77 +|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
78 +|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
79 +|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
80 +|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
81 +|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
82 +|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
83 +|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
84 +|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
85 +|84 |00:14:09,630 ~-~-> 00:14:12,660 |days, and then it will retrace and go into the clothes.
86 +|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
87 +|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
88 +|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
89 +|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
90 +|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
91 +|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
92 +|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
93 +|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
94 +|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
95 +|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
96 +|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
97 +|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
98 +|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
99 +|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
100 +|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
101 +|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
102 +|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
103 +|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
104 +|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
105 +|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
106 +|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
107 +|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
108 +|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
109 +|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
110 +|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
111 +|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
112 +|111 |00:18:09,420 ~-~-> 00:18:09,990 |among them.
113 +|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
114 +|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
115 +|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
116 +|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.
117 +|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
118 +|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
119 +|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
120 +|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
121 +|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
122 +|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
123 +|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
124 +|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
125 +|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
126 +|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
127 +|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
128 +|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
129 +|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
130 +|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,
131 +|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
132 +|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
133 +|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
134 +|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
135 +|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
136 +|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
137 +|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,
138 +|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
139 +|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
140 +|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
141 +|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
142 +|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
143 +|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
144 +|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
145 +|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
146 +|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
147 +|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
148 +|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
149 +|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
150 +|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,
151 +|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.
152 +|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
153 +|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.
154 +|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
155 +|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
156 +|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.
157 +|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
158 +|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
159 +|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.
160 +|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
161 +|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.
162 +|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
163 +|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
164 +|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
165 +|164 |00:27:26,820 ~-~-> 00:27:31,380 |defines this optimal trade entry right there. The time of the day that this occurs
166 +|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
167 +|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
168 +|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
169 +|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
170 +|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,
171 +|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
172 +|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
173 +|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
174 +|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
175 +|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,
176 +|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
177 +|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
178 +|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
179 +|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,
180 +|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
181 +|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
182 +|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
183 +|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
184 +|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
185 +|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
186 +|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
187 +|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
188 +|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
189 +|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
190 +|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
191 +|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
192 +|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
193 +|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
194 +|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
195 +|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
196 +|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
197 +|196 |00:32:26,040 ~-~-> 00:32:29,460 |example, trading the British Pound short, I have
198 +|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
199 +|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
200 +|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
201 +|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
202 +|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
203 +|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
204 +|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
205 +|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
206 +|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
207 +|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
208 +|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
209 +|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
210 +|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
211 +|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
212 +|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
213 +|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
214 +|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
215 +|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
216 +|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
217 +|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
218 +|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
219 +|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
220 +|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
221 +|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
222 +|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
223 +|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
224 +|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,
225 +|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
226 +|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
227 +|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,
228 +|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
229 +|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
230 +|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
231 +|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
232 +|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,
233 +|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
234 +|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
235 +|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.
236 +|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
237 +|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
238 +|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
239 +|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
240 +|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
241 +|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
242 +|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.
243 +|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
244 +|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
245 +|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
246 +|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
247 +|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
248 +|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
249 +|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
250 +|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
251 +|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,
252 +|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
253 +|252 |00:41:26,429 ~-~-> 00:41:30,689 |high. Okay. Now what happens, if you
254 +|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
255 +|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
256 +|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
257 +|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
258 +|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
259 +|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,
260 +|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
261 +|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.
262 +|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
263 +|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
264 +|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
265 +|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
266 +|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
267 +|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
268 +|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
269 +|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
270 +|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
271 +|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
272 +|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
273 +|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
274 +|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?
275 +|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
276 +|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
277 +|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
278 +|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
279 +|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
280 +|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,
281 +|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
282 +|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
283 +|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
284 +|283 |00:46:26,310 ~-~-> 00:46:30,570 |low. And again, that's enough. This is the old low back here.
285 +|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
286 +|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
287 +|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
288 +|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
289 +|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
290 +|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
291 +|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
292 +|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
293 +|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
294 +|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
295 +|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
296 +|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
297 +|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
298 +|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
299 +|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
300 +|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.
301 +|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.
302 +|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.
303 +|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
304 +|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
305 +|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.
306 +|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
307 +|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
308 +|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
309 +|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.
310 +|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
311 +|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
312 +|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.
313 +|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
314 +|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
315 +|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
316 +|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.
317 +|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
318 +|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
319 +|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,
320 +|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
321 +|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
322 +|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
323 +|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
324 +|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
325 +|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.
5 5  
6 -2
7 -00:00:56,280 ~-~-> 00:01:14,070
8 -date. Let's get in. Let's make sure you guys are paying attention. Alright, so
9 -let's go over to the hourly chart. Okay, and what we're looking at here is the
10 -
11 -3
12 -00:01:14,070 ~-~-> 00:01:23,430
13 -60 minute chart of the British pound. And right away, I just want to ask you,
14 -yes, especially if you're a new trader, if you're new, if you have really no
15 -
16 -4
17 -00:01:23,820 ~-~-> 00:01:38,910
18 -technical prowess or experience, when you look at something like this, it can be
19 -rather confusing. no rhyme or reason why it's doing what it's doing. And I'm
20 -
21 -5
22 -00:01:38,910 ~-~-> 00:01:51,990
23 -going to hopefully try to dispel that. That feeling that you're probably having
24 -right now. I'm leaning largely on the fact that I've mentioned these things
25 -
26 -6
27 -00:01:51,990 ~-~-> 00:02:02,040
28 -beforehand. So I know there's some out there that really like to poke fun at me
29 -or whatever. And that's fine. You guys are welcome to do that. But you it is
30 -
31 -7
32 -00:02:02,040 ~-~-> 00:02:10,800
33 -what it is. Okay, everything I'm going to talk about here was explained in terms
34 -of method in terms of where the market should have gone this week, I'm actually
35 -
36 -8
37 -00:02:10,800 ~-~-> 00:02:19,680
38 -going to refer back to how I test the market, which is a concept that I learned
39 -from Georgia and Joe, when I was coming up as a trader in the 90s. My
40 -
41 -9
42 -00:02:19,680 ~-~-> 00:02:33,210
43 -appreciation of trading the index markets like s&p 500, that became a main
44 -staple of my trading. And a lot of the work that I adopted as a as a p trader
45 -
46 -10
47 -00:02:33,210 ~-~-> 00:02:43,830
48 -came from by way of George and Jill. So George ngl is like my biggest mentor in
49 -terms of what I learned, specifically, the trading spoons. Now spoons is not a
50 -
51 -11
52 -00:02:43,830 ~-~-> 00:02:56,070
53 -topic we're going to talk about at any time. But I'm saying that because he gave
54 -me an idea that At first, I thought it was stupid, it was ludicrous to even
55 -
56 -12
57 -00:02:56,070 ~-~-> 00:03:08,610
58 -think this, but he will always start his day with a buy or a short, especially
59 -if he had an idea what the market should be doing. From a technical standpoint,
60 -
61 -13
62 -00:03:09,030 ~-~-> 00:03:19,110
63 -he would go in. For instance, say he had an underlying gut feeling, if you will,
64 -that the market should go higher, he would go short, one small position, your
65 -
66 -14
67 -00:03:19,110 ~-~-> 00:03:28,980
68 -one watt, one standard, or one futures contract, and see what the reaction would
69 -be as soon as you got in the marketplace. I usually admittedly, I try to do this
70 -
71 -15
72 -00:03:29,220 ~-~-> 00:03:39,660
73 -at the beginning of the week. And if I'm being 100% honest with you, when I'm
74 -actively trading, I usually have about one loss per week. And it's usually on a
75 -
76 -16
77 -00:03:39,660 ~-~-> 00:03:50,070
78 -Monday, or Tuesday. And it's because I'm either testing what I think may happen.
79 -And you guys actually got the chance to see that this week where I was in the
80 -
81 -17
82 -00:03:50,070 ~-~-> 00:03:59,460
83 -marketplace looking for a specific thing to unfold in the British pound. And
84 -because I had in mentorship group knows this, I was looking for weakness on the
85 -
86 -18
87 -00:03:59,460 ~-~-> 00:04:07,590
88 -pound. And a lot of them actually started sending me emails like no, you told us
89 -to look for this thing to go lower. Why are you trying to buy it? Well, I want
90 -
91 -19
92 -00:04:07,590 ~-~-> 00:04:19,320
93 -to make sure I have the right side of the marketplace by conviction, personal
94 -convictions, and they're usually reinforced by me feeling adversity, especially
95 -
96 -20
97 -00:04:19,320 ~-~-> 00:04:27,720
98 -if I feel at my notes in front of me. And I'm always having my notes in front of
99 -me before I sit down from the charts, because I can always quickly see something
100 -
101 -21
102 -00:04:27,720 ~-~-> 00:04:36,390
103 -on a short term. Because I'm multi dimensional in terms of all timeframes. I
104 -want to really be focusing on what setups are most likely to occur based on a
105 -
106 -22
107 -00:04:36,390 ~-~-> 00:04:48,780
108 -higher timeframe. So if I have that longer term or several days in advance
109 -perspective on where I think that market may go, I want to still sometimes go in
110 -
111 -23
112 -00:04:48,780 ~-~-> 00:04:58,050
113 -and test it now. Many times my analysis will be wrong. Mike Francis, I think
114 -that the market is going lower like I did for British Pound this week before the
115 -
116 -24
117 -00:04:58,050 ~-~-> 00:05:00,330
118 -market started trading. I
119 -
120 -25
121 -00:05:00,330 ~-~-> 00:05:12,600
122 -could be in there trying to buy it, and then it makes me money. And I'm wrong on
123 -my analysis. So it gives me the opportunity to really to just move from the the
124 -
125 -26
126 -00:05:12,600 ~-~-> 00:05:22,350
127 -stance of I have to be right, or a matter of it's correct or incorrect in terms
128 -of my trading, I don't want to promote that idea. Because that's not how I
129 -
130 -27
131 -00:05:22,350 ~-~-> 00:05:31,200
132 -interpret interpret price action. I don't internalize trading success based on
133 -the definitions of being, quote unquote, right or wrong, it's all about whether
134 -
135 -28
136 -00:05:31,200 ~-~-> 00:05:38,850
137 -or not my bottom line is increasing, or if it's going down. And if it's going
138 -down, I have to figure out what it is I'm doing wrong. First thing is stop
139 -
140 -29
141 -00:05:38,850 ~-~-> 00:05:47,040
142 -trading. But the main thing is, is I have to know, what I'm doing is increasing
143 -my bottom line. That's all it matters to me. I don't care how many times I've
144 -
145 -30
146 -00:05:47,040 ~-~-> 00:05:56,700
147 -been right in the road to get that everyone takes all this energy and effort in
148 -back testing and number crunching, and all those types of things. And I think
149 -
150 -31
151 -00:05:56,700 ~-~-> 00:06:03,630
152 -while in the beginning, as a new trader, if you have no idea what you're doing,
153 -absolutely, it's beneficial. But to make a career of doing that, which is I
154 -
155 -32
156 -00:06:03,630 ~-~-> 00:06:10,650
157 -think, with Larry Williams, my mentor, which I love him to death, he likes that
158 -kind of stuff. It's no he loves number crunching and all that business. But
159 -
160 -33
161 -00:06:10,650 ~-~-> 00:06:22,710
162 -nothing changes, the the, the effect on what has already happened. None of that
163 -has any basis on what you're going to do in the future, because it's not going
164 -
165 -34
166 -00:06:22,710 ~-~-> 00:06:31,950
167 -to walk forward exactly as it did in the past. That's what makes trading
168 -difficult. So what I'm going to teach you today are just a handful of things
169 -
170 -35
171 -00:06:31,950 ~-~-> 00:06:41,760
172 -that I used for the cable trade idea. And you guys watch me do it. It was
173 -recorded the entire time from the time I entered a trade until it was collapsed.
174 -
175 -36
176 -00:06:41,790 ~-~-> 00:06:50,520
177 -So I want you to see that the things I'm going to talk about this morning, and
178 -I'm going to try to get it done here before 10 o'clock right now, not 10
179 -
180 -37
181 -00:06:50,520 ~-~-> 00:07:00,750
182 -o'clock, 10 1010 minute delay in starting. So I'm trying to make it as concise
183 -and short as I possibly can. But the main takeaways is this, I want you to
184 -
185 -38
186 -00:07:00,750 ~-~-> 00:07:10,800
187 -understand that things that I'm talking specifically about today are generic
188 -things that tend to repeat themselves. And they do not need to have a career of
189 -
190 -39
191 -00:07:10,800 ~-~-> 00:07:20,850
192 -back testing on them. Okay, they're just very simple principles that I've been
193 -able to ferret out of price action, and no one really likes to talk about it.
194 -
195 -40
196 -00:07:21,000 ~-~-> 00:07:28,530
197 -Okay, and because they don't know about it, so now they know about it, because
198 -of the things I've talked about. But you don't see it in books, you don't see it
199 -
200 -41
201 -00:07:28,530 ~-~-> 00:07:39,150
202 -in workshops, and other people don't teach it because they haven't been exposed
203 -to it. So with your pen and pad today, I really want you to be focusing on the
204 -
205 -42
206 -00:07:39,150 ~-~-> 00:07:49,950
207 -generic concepts. And the fact that these are traits and price action that tend
208 -to repeat themselves almost on a daily, but certainly every single week. Now,
209 -
210 -43
211 -00:07:50,310 ~-~-> 00:07:56,790
212 -that is not an invitation for you to go in and thinking, I'm gonna be a rock
213 -star, I'm trading every day, and I'm gonna be profitable every week, I can't
214 -
215 -44
216 -00:07:56,790 ~-~-> 00:08:04,860
217 -promise you that. Okay, I'm gonna take losses in the future, I'm going to be
218 -wrong, you're going to be wrong to Okay, so please don't think what I'm telling
219 -
220 -45
221 -00:08:04,860 ~-~-> 00:08:19,710
222 -you are, you know, there is no absolutes in trading, period. But these things
223 -tend to be more true than not. And there's a lot of things that you'll learn
224 -
225 -46
226 -00:08:19,710 ~-~-> 00:08:27,960
227 -through my tutorials, which I can't compress in a small video today, that will
228 -help you build the criteria that you'd like to see in charts, and then trade on
229 -
230 -47
231 -00:08:27,960 ~-~-> 00:08:36,840
232 -it. Okay. All right. So let's get right into it. Now for the preamble. Alright,
233 -with an hourly chart with Mt. Four. This is the reason why I like this platform.
234 -
235 -48
236 -00:08:36,840 ~-~-> 00:08:43,560
237 -It's archaic. It's old. Okay, and I'm a dinosaur. I've been around for a long,
238 -long time. So I like that kind of thing. So some of you new cats, like all these
239 -
240 -49
241 -00:08:43,560 ~-~-> 00:08:52,680
242 -other new platforms, and I just can't make the transition. So it is what it is.
243 -If you can hit Ctrl and tap why you get the day dividers on here. Okay, and if
244 -
245 -50
246 -00:08:52,680 ~-~-> 00:09:00,510
247 -you have Sundays in your data, you'll see these double lines real close to one
248 -another close proximity. This is the first one to the right, that begins
249 -
250 -51
251 -00:09:00,510 ~-~-> 00:09:11,520
252 -Monday's trading. Okay, so I'm going to define that real quick. This sort of
253 -vertical line. All right, right there. Now with that, I'm going to just add that
254 -
255 -52
256 -00:09:11,940 ~-~-> 00:09:19,410
257 -going forward on each individual respective debt, because I'm going to take all
258 -the other lines off because to me personally, they're distracting. Not that it's
259 -
260 -53
261 -00:09:19,410 ~-~-> 00:09:21,450
262 -necessary for you to be doing this is
263 -
264 -54
265 -00:09:22,740 ~-~-> 00:09:31,710
266 -I have I have OCD, so it has to be dealt with or has to be very distracting for
267 -me. Alright, so we have the week here divided across the days and the first one
268 -
269 -55
270 -00:09:31,710 ~-~-> 00:09:44,220
271 -begins Monday's trading. Now, I was looking for a reason to see if we had some
272 -momentum to push higher and take out Friday's high. I was ultimately bearish on
273 -
274 -56
275 -00:09:44,220 ~-~-> 00:09:53,790
276 -cable but true to form sometimes the beginning of the week. They can make a run
277 -and take out previous highs or if it's going to go lower. They'll run down take
278 -
279 -57
280 -00:09:53,790 ~-~-> 00:10:07,050
281 -out a previous low because we had such a nice response back here on 12th of
282 -October, I was willing to side with recent momentum, because this could have
283 -
284 -58
285 -00:10:07,110 ~-~-> 00:10:17,010
286 -easily kept going higher. And that's fine, I would have been in there with
287 -something on was not a big position on the less but it was in, I was in it that
288 -
289 -59
290 -00:10:17,010 ~-~-> 00:10:27,060
291 -way, if I was going to rally, if I was wrong, I had something in the race I had,
292 -I had something on the line, if you will, well, it didn't provide me any
293 -
294 -60
295 -00:10:27,360 ~-~-> 00:10:36,210
296 -profitability, except for marginal gains, which you saw, it wasn't that big of a
297 -deal. Okay, I didn't suffer a loss. But from an ego standpoint, or from an
298 -
299 -61
300 -00:10:36,210 ~-~-> 00:10:46,590
301 -analysis, an analyst stamp, or a quote unquote, Guru standpoint, it would feel
302 -out really looking in that I was wrong. So therefore, I'm ashamed. No, I don't
303 -
304 -62
305 -00:10:46,590 ~-~-> 00:10:54,240
306 -feel that because I know those transitions are going to take place in analysis.
307 -So that's going to be the same thing you encounter when you do your own
308 -
309 -63
310 -00:10:54,240 ~-~-> 00:11:02,790
311 -analysis. Don't be fearful of being wrong. If you are not willing to be wrong,
312 -you can't be flexible. And flexibility is necessary, because you may see
313 -
314 -64
315 -00:11:02,790 ~-~-> 00:11:14,550
316 -something that changes the tone on your analysis, and you have to be well,
317 -permitting that, if you are locks that into, I have to be right from my first
318 -
319 -65
320 -00:11:14,550 ~-~-> 00:11:21,600
321 -time, and I had to stick to that come hell or high water, that's gonna be
322 -problematic for you to be consistent and certainly profitable. So you have to
323 -
324 -66
325 -00:11:21,600 ~-~-> 00:11:31,320
326 -have some measure of flexibility. And that comes by learning properly at means
327 -going through things process based, step by step by step not here, it all is in
328 -
329 -67
330 -00:11:31,320 ~-~-> 00:11:40,110
331 -one video or two videos, and have fun with it. Good luck doesn't work like that.
332 -Okay, so we have our date of orders in here. Monday's trading, I was looking for
333 -
334 -68
335 -00:11:40,110 ~-~-> 00:11:47,610
336 -a potential try to continue going higher ticket Friday's high, didn't give me
337 -any of that. Okay, started to consolidate. And right before this drop down, you
338 -
339 -69
340 -00:11:47,610 ~-~-> 00:11:57,720
341 -can see I had collapsed the trade and go back and look at the video and look at
342 -all the stuff I shared on online, Twitter and on the forum. So it took out these
343 -
344 -70
345 -00:11:57,720 ~-~-> 00:12:06,900
346 -equal lows. And that said, if it took out the the intraday low that was already
347 -in place, which was this one right here on Monday, go back and look on Twitter
348 -
349 -71
350 -00:12:06,900 ~-~-> 00:12:16,830
351 -and look at my social media, you'll see it. If it does that, I'm going to switch
352 -gears, and I'm going to be focusing on shorts. Now, if anyone knows anything
353 -
354 -72
355 -00:12:16,830 ~-~-> 00:12:25,740
356 -about my concepts, okay, you already know that I teach that if it's going to be
357 -a down day, the high the day is going to form between two o'clock in the morning
358 -
359 -73
360 -00:12:25,920 ~-~-> 00:12:35,550
361 -and four o'clock in the morning, New York time, it's just that simple. You have
362 -about 70% likelihood that that's gonna happen. If you have the daily bias right
363 -
364 -74
365 -00:12:35,790 ~-~-> 00:12:46,560
366 -now, if you're new at this was right by you and went right over your head. And
367 -I'll say it again, if the bias is correct, and it's going to be going down or
368 -
369 -75
370 -00:12:46,560 ~-~-> 00:12:59,910
371 -going down closed day, the high of The day will form 70% of the time between two
372 -o'clock in the morning and four o'clock in the morning, New York time. Trust me,
373 -
374 -76
375 -00:13:00,570 ~-~-> 00:13:08,520
376 -it seems simple. It sounds Well, it doesn't think it's not a big deal. That is
377 -exactly what you're looking for. You may not know it yet, but that's exactly
378 -
379 -77
380 -00:13:08,520 ~-~-> 00:13:14,580
381 -what you're looking for. Now, you may not be able to trade in London, between
382 -two o'clock, four o'clock in the morning, you may be sleeping, you may be
383 -
384 -78
385 -00:13:14,580 ~-~-> 00:13:23,700
386 -running a business. It is what it is I understand that. But it also aids in
387 -knowing what the New York session is going to do. Because if you know what the
388 -
389 -79
390 -00:13:23,970 ~-~-> 00:13:30,720
391 -London sessions going to most likely do, and it unfolds as you expect it. In
392 -order to create the high that day between two o'clock four o'clock in the
393 -
394 -80
395 -00:13:30,720 ~-~-> 00:13:41,760
396 -morning New York time, then chances are, there's usually about an 80% likelihood
397 -that New York continues in that same direction. So that also probably went right
398 -
399 -81
400 -00:13:41,760 ~-~-> 00:13:48,870
401 -on top your head as a new trader. So I'll repeat it again. If it's going to be a
402 -down day and your bias is correct. And London creates the high the day between
403 -
404 -82
405 -00:13:48,870 ~-~-> 00:13:58,380
406 -two o'clock and four o'clock in the morning, New York time. New York generally
407 -will have a small short term, it'll bounce or retracement up with down day and
408 -
409 -83
410 -00:13:58,380 ~-~-> 00:14:09,630
411 -then create another optimal trade entry to go short on. Usually around 10
412 -o'clock in the morning to noon, New York time, the daily low will form on down
413 -
414 -84
415 -00:14:09,630 ~-~-> 00:14:12,660
416 -days, and then it will retrace and go into the clothes.
417 -
418 -85
419 -00:14:14,310 ~-~-> 00:14:23,130
420 -everything I just said reverse it for when it's bullish. It's just that simple.
421 -I save a lot of time by doing it that way. It irks some people because I'm not
422 -
423 -86
424 -00:14:23,460 ~-~-> 00:14:35,430
425 -so specific. But you're not you're not getting specifics from me because you I'm
426 -not going to do it. I'm going to demand you to do some work on your part. So we
427 -
428 -87
429 -00:14:35,430 ~-~-> 00:14:49,350
430 -have our data binders here. I'm going to zoom in a little bit. And we're going
431 -to walk through the individual days. And we'll see the response of this of price
432 -
433 -88
434 -00:14:49,350 ~-~-> 00:15:01,020
435 -action. Monday in here. indecisive day now, as a new trader. I want you to
436 -cancel out Monday. That's a no trading day for you now I already know some of
437 -
438 -89
439 -00:15:01,020 ~-~-> 00:15:09,390
440 -you cats have been around here for a long time. Oh, here we go. You saying don't
441 -trade on Monday, I make all my money on Mondays. Fine, wonderful. I'm gonna pat
442 -
443 -90
444 -00:15:09,390 ~-~-> 00:15:16,350
445 -on the back right now. It's not for you. Okay, it's for the new traders. I'm
446 -teaching where the highest probability scenarios are going to be. It's on
447 -
448 -91
449 -00:15:16,350 ~-~-> 00:15:23,700
450 -Tuesdays and Wednesdays, simple done, do the math, go through all your back
451 -testing on that. And you'll see they're the best trading days. Okay? If you
452 -
453 -92
454 -00:15:23,700 ~-~-> 00:15:30,000
455 -know, the directional bias. Now, if you don't use the directional directional
456 -bias, then your numbers and you look back, you're going to send me an email
457 -
458 -93
459 -00:15:30,000 ~-~-> 00:15:38,400
460 -saying, your numbers don't hold up. Because you don't know how to use the
461 -directional bias concept that already taught. One simple approach. And the
462 -
463 -94
464 -00:15:38,400 ~-~-> 00:15:45,570
465 -mentorship people didn't even see what I've taught you. They understand the
466 -concept of what I taught. But I didn't give that one simple little approach. And
467 -
468 -95
469 -00:15:45,570 ~-~-> 00:15:54,630
470 -I did it just to prove that it can be done multiple ways, using the
471 -understanding of liquidity. Okay, so don't discount because I just gave a couple
472 -
473 -96
474 -00:15:54,630 ~-~-> 00:16:01,470
475 -things in video recently, and you got to spend 18 $100, to come into my
476 -mentorship, which will never be offered again. You didn't miss anything there
477 -
478 -97
479 -00:16:01,470 ~-~-> 00:16:11,820
480 -except for day by day by day me spending hours with them. I'm not going to do
481 -that with you all. Okay, I'm going to just point in the direction of where I
482 -
483 -98
484 -00:16:11,820 ~-~-> 00:16:21,720
485 -think the price is going to go. And you should use what's already been taught to
486 -you in recent videos, and you will do exceptionally well. Now, looking at what
487 -
488 -99
489 -00:16:21,720 ~-~-> 00:16:31,770
490 -we've had on Monday, okay, Monday is a missed day, we don't want to say anything
491 -about that day, I didn't lose anything. But I was not able to get position
492 -
493 -100
494 -00:16:31,770 ~-~-> 00:16:40,230
495 -short. And I did not make anything going long. Okay, it's it's a marginal gain.
496 -Now, I'm not going to talk about it being a profit. So the next day, we had
497 -
498 -101
499 -00:16:40,230 ~-~-> 00:16:50,400
500 -transitioned to expecting lower prices. True to my analysis, when I shared on
501 -social media and on my forum, we will be looking for shorts. Okay. So if that's
502 -
503 -102
504 -00:16:50,400 ~-~-> 00:17:03,060
505 -the case, we have to be doing what waiting for it to rally, it has to rally for
506 -us to go short. We do not sell short when prices dropping. Everyone else is
507 -
508 -103
509 -00:17:03,060 ~-~-> 00:17:11,040
510 -going to teach you this from the retail standpoint, because it feels good to do
511 -what's already in place in the chart. It's already starting to move in one
512 -
513 -104
514 -00:17:11,040 ~-~-> 00:17:20,730
515 -direction. So therefore, that's confirmation now for you and it's not
516 -confirmation, it's an invitation to sit through retracement or be wrong. chances
517 -
518 -105
519 -00:17:20,730 ~-~-> 00:17:28,230
520 -of you feel uncomfortable trade many times equates to the trades probably 90%.
521 -Done. And if you do get anything on the other side of the dealing spread
522 -
523 -106
524 -00:17:28,230 ~-~-> 00:17:35,400
525 -numbers, if it looks profitable for you, it usually is fast and fleeting, it
526 -shows it for a second and you feel good. Boom, and it takes it away from you and
527 -
528 -107
529 -00:17:35,400 ~-~-> 00:17:43,140
530 -then runs for your stuff or just if you don't have a stop, it just crushes you.
531 -And that's where you blow your account, you have to know what you're looking
532 -
533 -108
534 -00:17:43,140 ~-~-> 00:17:52,590
535 -for, which is a reason why I do all these hind sight examples. Because unless
536 -you're knowing exactly what you're looking for, you'll never be able to identify
537 -
538 -109
539 -00:17:52,590 ~-~-> 00:18:01,380
540 -it, you won't be able to see that smart money footprint if you've not been
541 -exposed to many examples of it, because they're generally the same thing, just
542 -
543 -110
544 -00:18:01,380 ~-~-> 00:18:09,420
545 -repeating themselves and subtle little deviations from the normal that not all
546 -of them look exactly the same, but they're gonna have a lot of similarities
547 -
548 -111
549 -00:18:09,420 ~-~-> 00:18:09,990
550 -among them.
551 -
552 -112
553 -00:18:54,930 ~-~-> 00:19:06,000
554 -All right, so we have a hourly chart, and I just laid a fib on. And I want to
555 -just kind of like get you to train your eye to look for the price swings. Now
556 -
557 -113
558 -00:19:06,000 ~-~-> 00:19:13,020
559 -I'm giving you a range from the highest body of the candles in here. That's all
560 -I'm looking for. It's not that I'm looking for this specific topics. I get this
561 -
562 -114
563 -00:19:13,050 ~-~-> 00:19:21,480
564 -a lot. My questions and email are presented to me by way of Twitter. When I was
565 -accepting direct messages on Twitter, people are always asking why did you put
566 -
567 -115
568 -00:19:21,480 ~-~-> 00:19:32,520
569 -your fib on that level? or Why did you put it on this or that? And that part
570 -looks ambiguous. It looks like it's inconsistent. It looks like cherry picking.
571 -
572 -116
573 -00:19:32,610 ~-~-> 00:19:40,140
574 -But I want you to know before we go any further what I'm doing so that way
575 -you'll never have that problem. Or if you see someone tweeting about it in
576 -
577 -117
578 -00:19:40,140 ~-~-> 00:19:47,760
579 -response, you know, it looks cherry picked or he's doing it he'll never have the
580 -balls to do that beforehand. I outlined everything you're saying you're seeing
581 -
582 -118
583 -00:19:47,760 ~-~-> 00:19:54,810
584 -here today before the fact I gave you a specific price levels, told you how to
585 -do it yourself what the setup with the setups look like the times that they're
586 -
587 -119
588 -00:19:54,810 ~-~-> 00:20:01,440
589 -going to occur. You can't get any better than that. It's better than my FX book.
590 -It's better than trading view. It's Better than doing anything because I've
591 -
592 -120
593 -00:20:01,440 ~-~-> 00:20:11,580
594 -already told you what the outcome is gonna be days before it happens. And that's
595 -what I want to kind of like, build in your expectation with these concepts. Not
596 -
597 -121
598 -00:20:11,580 ~-~-> 00:20:21,690
599 -in that you expect it from me. But once you learn how to use them, this is what
600 -you're able to do with it. Okay, so when I'm anchoring my fib, what I'm looking
601 -
602 -122
603 -00:20:21,690 ~-~-> 00:20:32,880
604 -for is a high, if I'm looking for a retracement higher to sell short, I'm
605 -looking for a high that has the highest close or highest open. Now among these
606 -
607 -123
608 -00:20:32,910 ~-~-> 00:20:41,340
609 -highs in here, I'm using this one here because the highest, it's higher than
610 -this close here. And it looks like it's the same as this close close on this is
611 -
612 -124
613 -00:20:41,340 ~-~-> 00:20:52,680
614 -133 21. And the open on this candle is 133 21. So it's the same price. So I'm
615 -using that. And I'm drawing the fib down away from it. Okay, and I've already
616 -
617 -125
618 -00:20:52,680 ~-~-> 00:21:02,070
619 -showed you how to use the Fibonacci settings with the optimal trade entry or ot
620 -primer video, it's on my YouTube channel, you can check that out. And now what
621 -
622 -126
623 -00:21:02,070 ~-~-> 00:21:16,650
624 -I'm doing is I'm drawing or dragging the fib down to the lowest close or open.
625 -Okay, in price ranges. So we have this range here is nothing to talk about. I'm
626 -
627 -127
628 -00:21:16,650 ~-~-> 00:21:25,740
629 -using this one here. And price starts to have a little bit of a retracement
630 -here. But this is where I collapse the Long's and it took another dive. Now when
631 -
632 -128
633 -00:21:25,740 ~-~-> 00:21:34,470
634 -the day closes on Monday, we moved to the sidelines if we took out the daily low
635 -that I mentioned earlier that particular day. And then this right here, we start
636 -
637 -129
638 -00:21:34,470 ~-~-> 00:21:43,530
639 -looking at this candles body as soon as this candle opens up, we start adjusting
640 -it again. And you all you're doing is looking to see until the rains completes,
641 -
642 -130
643 -00:21:43,530 ~-~-> 00:21:52,170
644 -which on Tuesday beginning at eight o'clock my time New York time, that would
645 -start to new data to each one of these vertical lines is going to delineate and
646 -
647 -131
648 -00:21:52,170 ~-~-> 00:22:04,560
649 -this particular platform, and for those that are asking, this is for x ltds.
650 -demo account for x. l as in Larry Thompson coming to us and Tom and d is in
651 -
652 -132
653 -00:22:05,730 ~-~-> 00:22:17,730
654 -drawdown. Okay, so forex Ltd, now I'm going to draw it to the lowest body which
655 -is going to be this candle here. Okay, right in there. Now that's that's the
656 -
657 -133
658 -00:22:17,730 ~-~-> 00:22:30,210
659 -entire range I'm looking at from here to here. Now on this particular day alone,
660 -doesn't do much at all. But this is the entire parent price swing from the body
661 -
662 -134
663 -00:22:31,230 ~-~-> 00:22:38,520
664 -to the body highest and the lowest body. Now in that parent price swing, I've
665 -mentioned this already in few videos that we've done so far, since I've came
666 -
667 -135
668 -00:22:38,520 ~-~-> 00:22:51,930
669 -back on public forum. Every price wing has subordinate, okay, price swings
670 -within it. So if this is the parent price swing, there's going to be more of a
671 -
672 -136
673 -00:22:51,930 ~-~-> 00:23:02,280
674 -smaller fractal inside that larger one. And you see that with this price swing
675 -here. So from this high, down to this low, that's another parent, I'm sorry,
676 -
677 -137
678 -00:23:02,280 ~-~-> 00:23:11,220
679 -it's another price when its subordinate, or is operating under the control of
680 -what this larger one is. This one sets the tone for the market go lower. So
681 -
682 -138
683 -00:23:11,220 ~-~-> 00:23:19,080
684 -inside this larger range, there's a smaller range that's going lower. So this is
685 -where we start moving our fib to more appropriate price levels. It's not
686 -
687 -139
688 -00:23:19,080 ~-~-> 00:23:30,900
689 -ambiguous, it's not formfitting is exactly what we do going forward. So we
690 -adjust the fib to the highest body again and all these candles in here. Put it
691 -
692 -140
693 -00:23:30,900 ~-~-> 00:23:39,840
694 -right here, it looks like it's the highest one and see what that opens 3305. And
695 -the token on here is
696 -
697 -141
698 -00:23:40,710 ~-~-> 00:23:52,320
699 -335 again, so it's the highest one. So from from this body heist, and this
700 -body's lowest. This is exactly what the framework framework would be for
701 -
702 -142
703 -00:23:52,320 ~-~-> 00:24:04,200
704 -Fibonacci. Now fib is not the answer. It just helps you determine where prices
705 -move to an extreme for overbought or oversold. That's it focusing specifically
706 -
707 -143
708 -00:24:04,290 ~-~-> 00:24:16,440
709 -the three price levels 62% and the 70.5 level and the 79% levels respectively.
710 -So let me zoom in a little bit here. You can see a better picture of that. Right
711 -
712 -144
713 -00:24:16,710 ~-~-> 00:24:25,020
714 -there. Okay, so we have the range high and the range low define what these
715 -candles. That's why folks that have gone not really studied my stuff. They just
716 -
717 -145
718 -00:24:25,020 ~-~-> 00:24:34,230
719 -look at what I share a picture, or they see something that's been shared you by
720 -way of social media, they'll look at this and say, Well, you know, this looks
721 -
722 -146
723 -00:24:34,230 ~-~-> 00:24:43,800
724 -like it's cherry picked. It's not. These are very specific role based ideas that
725 -if you stick to them, you'll see that's exactly how the markets gyrate they go
726 -
727 -147
728 -00:24:43,800 ~-~-> 00:24:55,200
729 -back and forth to these levels all the time. Now, bias again, was I was looking
730 -for 131 45 this week as a weekly objective that is on my free forum at forum dot
731 -
732 -148
733 -00:24:55,230 ~-~-> 00:25:05,370
734 -the inner circle trader calm, everyone's allowed to get in. I just can't approve
735 -everyone right away. This range, high to this range low. That's what we're
736 -
737 -149
738 -00:25:05,370 ~-~-> 00:25:12,750
739 -defining. we're ignoring all the wicks, notice that I could care less about the
740 -wicks the bought the books will tell you, but you're fit here, in right here,
741 -
742 -150
743 -00:25:12,810 ~-~-> 00:25:23,700
744 -and then you'll be trading empowered, and you're not trading power doing that.
745 -So what you're going to be focusing on is the Fibonacci level 79%, trace level.
746 -
747 -151
748 -00:25:25,020 ~-~-> 00:25:35,040
749 -And the 62. Right here, notice, like, it gives you specific price levels. I'm
750 -not reaching out there in space and trading, supply and demand zones, because I
751 -
752 -152
753 -00:25:35,040 ~-~-> 00:25:42,900
754 -have no faith in that. And once you really study what I teach, you'll see it's
755 -beyond that light years. It's way beyond supply and demand, supply and demand.
756 -
757 -153
758 -00:25:43,290 ~-~-> 00:25:50,640
759 -For Beginners understanding about support resistance, I think it's gotten
760 -married. Okay, it helps communicate that idea. But that's not what makes the
761 -
762 -154
763 -00:25:50,640 ~-~-> 00:25:58,770
764 -markets work. Okay, believe me when I tell you, if you spend time with me, when
765 -you're done training with me go look at supply and demand, you'll see right away
766 -
767 -155
768 -00:25:58,770 ~-~-> 00:26:07,080
769 -that that's nowhere near what you learned here. And again, I'm not trying to
770 -measure up against anybody else. I'm just saying, I get this a lot in response.
771 -
772 -156
773 -00:26:07,440 ~-~-> 00:26:16,560
774 -Or someone will say, Well, yeah, he's trading a supply zone or demand zone, it
775 -might be what would be defined as a supply and demand zone at one particular
776 -
777 -157
778 -00:26:16,560 ~-~-> 00:26:26,490
779 -time or another. But not all the things I trade are going to have that same
780 -element. Like I cut through candles, they teach you not to do that. Because you
781 -
782 -158
783 -00:26:26,490 ~-~-> 00:26:35,910
784 -have to have context in the marketplace, you have to know what the market is
785 -trying to do. And it's not based on an old or fresh supply zone or demand zone.
786 -
787 -159
788 -00:26:35,940 ~-~-> 00:26:44,070
789 -Okay. I deal with specific price levels. Okay, there's three to choose from. So
790 -there's still a little bit of a choice in the matter. But I always go with the
791 -
792 -160
793 -00:26:44,070 ~-~-> 00:26:51,360
794 -62% it makes it easy for me. I don't have to guess I ain't got to worry about
795 -it. Okay, so if I know if I want to be selling short at 62% retracement level.
796 -
797 -161
798 -00:26:51,720 ~-~-> 00:27:02,580
799 -Okay, I'm looking at this price level right here at 133 82. Look at the price I
800 -got on that trade 133 81. It was trading at that level at the time I put the
801 -
802 -162
803 -00:27:02,580 ~-~-> 00:27:15,030
804 -trade on, boom, I'm done. Did I get the other four pips of drawdown that I had
805 -in the trade? I could have. I wasn't worried about it. The 70.5 level, which is
806 -
807 -163
808 -00:27:15,030 ~-~-> 00:27:26,580
809 -a sweet spot, that's exactly where price goes, hits it right up here, bang nails
810 -it goes into it and then take it takes a dive. This range from here to here
811 -
812 -164
813 -00:27:26,820 ~-~-> 00:27:31,380
814 -defines this optimal trade entry right there. The time of the day that this
815 -occurs
816 -
817 -165
818 -00:27:37,650 ~-~-> 00:27:46,710
819 -is four o'clock in the morning, one Tuesday. Okay. So that's what time is,
820 -between two o'clock and four o'clock in the morning, the daily high or low
821 -
822 -166
823 -00:27:46,710 ~-~-> 00:27:52,710
824 -forms, if I'm expecting down prices, too high is going to form between two
825 -o'clock or four o'clock in the morning. Right away, you're thinking wow, you
826 -
827 -167
828 -00:27:52,710 ~-~-> 00:28:01,200
829 -know, that's still, when you do it between two o'clock, four o'clock, when two
830 -things agree. Price, which is the optimal trade entry, it's got to get into this
831 -
832 -168
833 -00:28:01,200 ~-~-> 00:28:11,070
834 -area up here. Okay, it's got to retrace up to at least 132 82, or 132 80 is a
835 -nice round level we'd like to talk about in terms of an institutional
836 -
837 -169
838 -00:28:11,070 ~-~-> 00:28:19,950
839 -sponsorship level where they go in, they put the orders around that level, or
840 -they'll reach for that level of clear out all liquidity, just below it. Okay,
841 -
842 -170
843 -00:28:20,010 ~-~-> 00:28:28,680
844 -and I'm not gonna say anything more about it than that. But the point is, two
845 -things have to agree for your trade, the time element of the day, which is the
846 -
847 -171
848 -00:28:28,680 ~-~-> 00:28:38,880
849 -kill zones, I teach between two o'clock and four o'clock in the morning. 90% of
850 -the time, all winners will have the higher low form. In those specific time
851 -
852 -172
853 -00:28:38,880 ~-~-> 00:28:50,010
854 -windows. It's only 120 minutes. Okay. But in there's 120 minutes, a lot of magic
855 -can happen, especially if you know what you're doing in terms of directional
856 -
857 -173
858 -00:28:50,010 ~-~-> 00:28:59,880
859 -bias. Now, that's the time you blend that with price, which is it's got to get
860 -to this level here. That's where the Voodoo happens. Okay, that's where things
861 -
862 -174
863 -00:28:59,880 ~-~-> 00:29:12,270
864 -go crazy in your analysis, where you're dialed in, and the markets where we yet
865 -and they respond very strongly in your directional bias. And your analysis will,
866 -
867 -175
868 -00:29:12,330 ~-~-> 00:29:21,390
869 -you know, basically pan out in your favor, and you spend very little time below
870 -the dealing spread. You'll also notice that because price is going up. It
871 -
872 -176
873 -00:29:21,390 ~-~-> 00:29:28,980
874 -doesn't feel good to be doing that as a new trader, because he feels like, well,
875 -what if it keeps going up? Well, it could. And that's why he used to stop. But
876 -
877 -177
878 -00:29:28,980 ~-~-> 00:29:37,470
879 -for those individual to have traded for a long time, you look at your losing
880 -trades, or the ones that didn't perform well. I guarantee you if you were
881 -
882 -178
883 -00:29:37,470 ~-~-> 00:29:44,730
884 -chasing the price, if you just would have entered when it was going the opposite
885 -direction where you were expecting it to go. That's how you win this game,
886 -
887 -179
888 -00:29:44,880 ~-~-> 00:29:54,120
889 -because that gives you the ability if you are wrong. It gives you the
890 -opportunity to get out many times with a scratch. And that's why it's important
891 -
892 -180
893 -00:29:54,120 ~-~-> 00:30:02,940
894 -to be selling on up moves in buying on down moves. That's how institutional
895 -trading is done. They do not Chase breakouts, they don't chase strength, they
896 -
897 -181
898 -00:30:02,940 ~-~-> 00:30:14,010
899 -are always buying on down ticks, they have to do that. That's their models,
900 -every large institution, they're told that they cannot execute. Unless price is
901 -
902 -182
903 -00:30:14,010 ~-~-> 00:30:23,340
904 -on the downside, it's moving down before they execute on buys. Period. It's as
905 -simple as that they cannot sell short, unless prices rally up, they got to do it
906 -
907 -183
908 -00:30:23,340 ~-~-> 00:30:33,570
909 -on an uptick. They cannot do it. That's rule based ideas. It's it's, it's in
910 -stone that cannot be deviated from. Now, you're going to meet about 15 different
911 -
912 -184
913 -00:30:33,570 ~-~-> 00:30:39,630
914 -prop traders that say they do a million dollars a year on social media. And
915 -they're going to say what I just said doesn't make any sense or any
916 -
917 -185
918 -00:30:39,630 ~-~-> 00:30:51,450
919 -institutional this anti institutional that don't, don't believe anything I say,
920 -test it. Don't believe me? I'm, I'm a demo, pizza delivery guy. Okay, whatever
921 -
922 -186
923 -00:30:51,450 ~-~-> 00:30:58,680
924 -you want to think of me, all I'm asking you to do is spend the time and in
925 -looking at what I'm teaching you. And then you make the assumptions and
926 -
927 -187
928 -00:30:58,680 ~-~-> 00:31:07,530
929 -decisions based on that. And don't let anybody else make the decisions for you.
930 -So here we have one example, you watched me execute in a video, okay, I didn't
931 -
932 -188
933 -00:31:07,530 ~-~-> 00:31:15,450
934 -give you a screen capture on trading view and wait for the chart to be able to
935 -update later on. I specifically outlined it and now even gave you the model what
936 -
937 -189
938 -00:31:15,450 ~-~-> 00:31:21,600
939 -I thought the daily range was gonna look like and we'll look at in a minute. But
940 -the reaction price, look how fast it moves away from there doesn't spend a lot
941 -
942 -190
943 -00:31:21,600 ~-~-> 00:31:34,830
944 -of time there hits it and runs away and then price starts to drop down, then
945 -what does it do at this daily low right here? That's 14, or basically, what's at
946 -
947 -191
948 -00:31:34,830 ~-~-> 00:31:49,500
949 -nine o'clock in the morning. Sure. Got that. Right. That's 10 o'clock in the
950 -morning, 10 o'clock in the morning. Excuse me, I have a Live account that I got
951 -
952 -192
953 -00:31:49,500 ~-~-> 00:31:58,170
954 -to make sure I'm looking at the time because the time doesn't match up with
955 -forex ltds. But this is 10 o'clock in the morning on Tuesday. And between 10
956 -
957 -193
958 -00:31:58,170 ~-~-> 00:32:06,420
959 -o'clock and noon, New York time, the opposite end of the daily range will will
960 -form. Okay, so in other words, we've seen a down day, we expected a down day I
961 -
962 -194
963 -00:32:06,420 ~-~-> 00:32:16,890
964 -outlined with down day and the low of the day forums between 10 o'clock and
965 -noon, New York time, think about what that means for you. If you know that
966 -
967 -195
968 -00:32:16,920 ~-~-> 00:32:26,040
969 -there's a likelihood for price to continue that long in the day. Yes, take some
970 -profits along the way, like you saw me do in the video, I want to Tuesday's
971 -
972 -196
973 -00:32:26,040 ~-~-> 00:32:29,460
974 -example, trading the British Pound short, I have
975 -
976 -197
977 -00:32:30,179 ~-~-> 00:32:38,369
978 -taken profits along the way, because I could be wrong, it might not get down
979 -here. But you have to have something in you have to have a hook on the you know
980 -
981 -198
982 -00:32:38,369 ~-~-> 00:32:48,209
983 -the line in case you get another big run, okay, leave some leaves something in,
984 -in the trade doesn't have to be a whole lot. But at least leave something on
985 -
986 -199
987 -00:32:48,209 ~-~-> 00:32:54,929
988 -there. And I had a very small portion on. And I didn't get all the way down
989 -here. Okay, but I had a very small portion reaching for my objective, my
990 -
991 -200
992 -00:32:54,929 ~-~-> 00:33:05,219
993 -objective was a little bit higher than that. I will not look for all this range
994 -in here. 90% of the time, I won't do it. Because I feel good about getting out
995 -
996 -201
997 -00:33:05,249 ~-~-> 00:33:14,309
998 -where the probabilities are so high my favor that my objectives will be met, I
999 -could care less about being Mr. Perfect. And I come across as a character in the
1000 -
1001 -202
1002 -00:33:14,309 ~-~-> 00:33:23,579
1003 -past you given the impression that I'm getting the highest high and the lowest
1004 -low of the day, I might call them by price levels within a pip or two. But I'm
1005 -
1006 -203
1007 -00:33:23,579 ~-~-> 00:33:30,509
1008 -never ever ever doing that back to back. I'm never holding it from the highest
1009 -to the lowest low. It doesn't work like that. I don't have the comfort level to
1010 -
1011 -204
1012 -00:33:30,509 ~-~-> 00:33:37,469
1013 -do that. And I've been doing for 20 plus years, you would think it would happen.
1014 -But it just doesn't. It just makes sense for me to be doing what I do take
1015 -
1016 -205
1017 -00:33:37,469 ~-~-> 00:33:48,179
1018 -profits along the way. Okay. And that's what I teach. It removes that as well,
1019 -that mental capital, okay increases. As you go through the trading, you fund
1020 -
1021 -206
1022 -00:33:48,179 ~-~-> 00:33:56,759
1023 -your position and take something off. Everyone else teaches you to think about
1024 -what the risk reward model was when you first started the trade. But that's a
1025 -
1026 -207
1027 -00:33:56,759 ~-~-> 00:34:06,029
1028 -myth. It always changes as soon as you change your stop loss and trim it down.
1029 -The whole risk reward model changes right away there. So why aren't you making
1030 -
1031 -208
1032 -00:34:06,029 ~-~-> 00:34:14,039
1033 -an argument when you do that? Because it doesn't fit the well the argument
1034 -you're trying to make with other people when they show profitability. So it's
1035 -
1036 -209
1037 -00:34:14,039 ~-~-> 00:34:21,659
1038 -all about money. Okay, it's all this game is price moves where the money is and
1039 -you do this to make money. There's no other reason to do it. You want to be
1040 -
1041 -210
1042 -00:34:21,659 ~-~-> 00:34:30,179
1043 -smart, go to school, get a PhD and then come back and tell me how smart you are.
1044 -But in trading, impress me with your consistency. That's all and that's what you
1045 -
1046 -211
1047 -00:34:30,179 ~-~-> 00:34:37,079
1048 -should be focusing on not being right not getting the highest high not getting
1049 -the lowest low. So price makes that low comes off the low and goes into the
1050 -
1051 -212
1052 -00:34:37,079 ~-~-> 00:34:45,359
1053 -trading rate about where I had the clothes expected on a daily range and I'll
1054 -look I'll show you in a second. But notice what happens it consolidates off the
1055 -
1056 -213
1057 -00:34:45,359 ~-~-> 00:34:54,209
1058 -low consolidates to the daily ranges this it opens here. It opens. trades up
1059 -makes the high the day London between two o'clock four o'clock in the morning
1060 -
1061 -214
1062 -00:34:54,359 ~-~-> 00:35:05,579
1063 -and makes the low at 10 o'clock in the morning. specific times. That's like WISC
1064 -clockwork it's perfect. You can't get any better than that. Okay, then it trades
1065 -
1066 -215
1067 -00:35:05,579 ~-~-> 00:35:19,529
1068 -off the low into the close now where this thing closes let's take a look at it.
1069 -I think it's this one here look at that one there you go this is what I had on
1070 -
1071 -216
1072 -00:35:19,529 ~-~-> 00:35:29,069
1073 -the chart and I had a guy email me said that I added I added this on my
1074 -recording. It did not you can see that you can move it around. Okay, so I
1075 -
1076 -217
1077 -00:35:29,069 ~-~-> 00:35:40,679
1078 -thought there was where the opening was I put it right there. And I expected the
1079 -price to move right from the opening up to me 33 pips I teach and I have taught
1080 -
1081 -218
1082 -00:35:40,949 ~-~-> 00:35:51,509
1083 -that when the days are going to be bearish from the opening price at midnight,
1084 -get that opening price if you're shorting at 30 pips or specifically 33 pips to
1085 -
1086 -219
1087 -00:35:51,509 ~-~-> 00:36:03,119
1088 -that opening price up. That's what this blue line or blue shaded areas, okay,
1089 -this whole rally or not rally but this range in price is Power of Three. And
1090 -
1091 -220
1092 -00:36:03,119 ~-~-> 00:36:16,619
1093 -there's a lot of things on this chart but the all this is highlighting and get
1094 -this off. This is highlighting just 33 pips right there. Okay, so priced from
1095 -
1096 -221
1097 -00:36:16,619 ~-~-> 00:36:27,839
1098 -the opening price, it does what it rallies up. Well, let's see what the opening
1099 -prices. We'll just call it three to 57 in the high
1100 -
1101 -222
1102 -00:36:36,389 ~-~-> 00:36:50,519
1103 -3287 30 pips, bingo. Now, I said this to somebody on social media days before it
1104 -happened. And it's one of my critics, okay. And I said, in fairness, I'm going
1105 -
1106 -223
1107 -00:36:50,519 ~-~-> 00:36:59,849
1108 -to show you something, and I promise you, you'll learn something from it. I
1109 -didn't make this example because it worked out. If you go through my tutorials,
1110 -
1111 -224
1112 -00:36:59,849 ~-~-> 00:37:08,909
1113 -and there's 1000s of you, 10s of 1000s of you that have done this, you've gone
1114 -through my stuff. I taught that 30 pips from the opening price above it, that's
1115 -
1116 -225
1117 -00:37:08,909 ~-~-> 00:37:18,539
1118 -where the algorithm that runs price. And that's what really goes on, folks, it's
1119 -not what you think it is, the price will expand up 30 pips, that's where the
1120 -
1121 -226
1122 -00:37:18,539 ~-~-> 00:37:25,679
1123 -market will create too high. Now what I just teach you, it's going to happen on
1124 -down days between two o'clock and four o'clock in the morning, New York time,
1125 -
1126 -227
1127 -00:37:26,249 ~-~-> 00:37:34,919
1128 -it's going to what price level Michael? Well about 30 pips above the opening
1129 -price. That's the range it operates in. But you have to get a measurement on how
1130 -
1131 -228
1132 -00:37:34,919 ~-~-> 00:37:45,569
1133 -far it could go to really become like an overbought condition. I am not plotting
1134 -stochastic or RSI on my chart to get overbought oversold, I'm using using the
1135 -
1136 -229
1137 -00:37:45,569 ~-~-> 00:37:53,429
1138 -basis of understanding the recent price range, because that's what really your
1139 -indicators are doing. They're looking back a certain number of bars. And
1140 -
1141 -230
1142 -00:37:53,429 ~-~-> 00:38:01,919
1143 -calculating that range high and low in factoring where Price is Right now in
1144 -relationship to that range to determine whether it's overbought or oversold. I
1145 -
1146 -231
1147 -00:38:01,919 ~-~-> 00:38:09,299
1148 -don't need that stuff. I can look at price action, I teach my students to do the
1149 -same thing. If I can see where the recent high is that we're working in? Well,
1150 -
1151 -232
1152 -00:38:09,299 ~-~-> 00:38:18,299
1153 -this is the most recent price action here. We had a nice little drop down. Okay,
1154 -so there's an impulse leg that we can work with here. And we can draw fibs on
1155 -
1156 -233
1157 -00:38:18,299 ~-~-> 00:38:29,669
1158 -net to get a rough idea where it should go. Then we also had the higher time
1159 -frame hourly chart which had that fib on it. Right here, we knew that 33 or at
1160 -
1161 -234
1162 -00:38:29,669 ~-~-> 00:38:39,209
1163 -least I'm showing you now, how I did it. 3380 is an institutional price level. I
1164 -taught you that in the recent videos on YouTube. Those levels are like magnets.
1165 -
1166 -235
1167 -00:38:39,299 ~-~-> 00:38:49,169
1168 -And they also act like magnets. When you try to put a well, let's say opposites
1169 -attract. So when you put the same polarity of magnet together, what happens it
1170 -
1171 -236
1172 -00:38:49,169 ~-~-> 00:38:58,709
1173 -repels. Well, that same effect happens here. That's what the magnets Okay, they
1174 -can draw price up to it. But then when everything agrees, the poles became
1175 -
1176 -237
1177 -00:38:58,889 ~-~-> 00:39:08,609
1178 -become the same, they repel price it pushes it away. So if we go back to this
1179 -example, this blue shaded area is exactly 33 pips from the opening price. I
1180 -
1181 -238
1182 -00:39:08,609 ~-~-> 00:39:18,089
1183 -challenge the people that have not gone through my work to do this on a daily
1184 -basis. study how much price moves away from the opening price at midnight, how
1185 -
1186 -239
1187 -00:39:18,089 ~-~-> 00:39:28,259
1188 -much it does this, how many pips up or below it, and keep a running total that
1189 -for about two months, and you're gonna see on the best trading days, and I'm not
1190 -
1191 -240
1192 -00:39:28,259 ~-~-> 00:39:36,719
1193 -teaching you how to get the best trading days by doing this example. This study
1194 -point just is going to highlight when the things are aligned for price to move
1195 -
1196 -241
1197 -00:39:36,719 ~-~-> 00:39:46,949
1198 -in a specific direction. And when that occurs, these things occur 90% of the
1199 -time, time of day, two o'clock to four o'clock in the morning, New York time.
1200 -
1201 -242
1202 -00:39:47,609 ~-~-> 00:39:57,419
1203 -What price up to a fib level and inside this range. Now what does that mean? The
1204 -fib could line up with something down here and it doesn't go all the way to 33
1205 -
1206 -243
1207 -00:39:57,419 ~-~-> 00:40:06,059
1208 -pips or 30 pips. It may go up just like 20 For 15 pips, but if it overlaps with
1209 -an area, that would be like a fib, and it's between two o'clock, four o'clock in
1210 -
1211 -244
1212 -00:40:06,059 ~-~-> 00:40:15,599
1213 -the morning, and it's bearish, that in itself is enough to make the high the
1214 -day. Now, what happens if you didn't execute, and you just couldn't get in there
1215 -
1216 -245
1217 -00:40:15,659 ~-~-> 00:40:26,969
1218 -to execute on that? No problem. When price gets down to the opening price, okay,
1219 -you can sell short and any rally away from the opening price as price moves
1220 -
1221 -246
1222 -00:40:26,969 ~-~-> 00:40:44,189
1223 -away, like this candle right here, let me zoom in this candle right here. When
1224 -price hit it, okay, and move away from it and hear that movement in price. Any
1225 -
1226 -247
1227 -00:40:44,189 ~-~-> 00:40:53,969
1228 -movement away from that opening price, as long as it's above it, or at it, you
1229 -can sell short using my rules. If you trade below the opening price, you have to
1230 -
1231 -248
1232 -00:40:53,969 ~-~-> 00:41:03,929
1233 -wait for retest and you get it here. You only get many, many times not even this
1234 -three test. But if it does, and you're right on your bias, and you're not going
1235 -
1236 -249
1237 -00:41:03,929 ~-~-> 00:41:11,609
1238 -to know that until the trades done, but if you feel convicted about it, like I'm
1239 -trying to permit the idea of thinking, you're going to be able to sell short
1240 -
1241 -250
1242 -00:41:11,609 ~-~-> 00:41:19,949
1243 -there, and your stock has to be above the high of the day, it has to be above
1244 -it. Okay? Don't get fancy in here and try to say, Okay, well, here's a high,
1245 -
1246 -251
1247 -00:41:20,069 ~-~-> 00:41:26,429
1248 -here's a low, and I'll use this at nine cent tracing level, and I'll put a stop
1249 -above that. Don't do that. Your stops got to go all the way above the daily
1250 -
1251 -252
1252 -00:41:26,429 ~-~-> 00:41:30,689
1253 -high. Okay. Now what happens, if you
1254 -
1255 -253
1256 -00:41:30,780 ~-~-> 00:41:43,830
1257 -can't be up at London, and you still think this is a good idea? Well, what you
1258 -can do is, you can put a sell stop in place, you wake up at midnight, New York
1259 -
1260 -254
1261 -00:41:43,830 ~-~-> 00:41:50,640
1262 -time, and wait around till about 1230 or set your alarm for like one o'clock in
1263 -the morning, even better. One o'clock in the morning, if we're above the opening
1264 -
1265 -255
1266 -00:41:50,640 ~-~-> 00:42:03,300
1267 -price, put a sell stop right at the opening price, less one tick or one PIP and
1268 -then use a 30 PIP stop loss and you won't know what the highest, okay, but what
1269 -
1270 -256
1271 -00:42:03,300 ~-~-> 00:42:13,350
1272 -will happen is is usually the high will form and it goes back down below the
1273 -opening price, autopilot. Nothing needs to be done except for place. The cell
1274 -
1275 -257
1276 -00:42:13,350 ~-~-> 00:42:19,770
1277 -stop in there. Now cell stop many times you're gonna be thinking as a new trader
1278 -that's protecting your long position. Yes, but you can also use it to enter a
1279 -
1280 -258
1281 -00:42:19,770 ~-~-> 00:42:29,280
1282 -short and so if there's no other orders in and you place a sell stop in there,
1283 -price trades down to it, it executes you short, now you're short. NET short,
1284 -
1285 -259
1286 -00:42:29,280 ~-~-> 00:42:39,870
1287 -basically. And yet use a protective buy stop in that. So you have what? You're
1288 -trading London on autopilot. You're not getting all this better, Phil, but who
1289 -
1290 -260
1291 -00:42:39,870 ~-~-> 00:42:48,720
1292 -cares? Because you have a lifetime work within you running a business. You have
1293 -a marriage You got to keep okay. You have things you got to do. You can't do it.
1294 -
1295 -261
1296 -00:42:48,750 ~-~-> 00:42:58,290
1297 -Okay, well, that's Give me a reason. Now you can do it. There's no excuse.
1298 -There's no excuses for you not to participate with the things I teach. But in my
1299 -
1300 -262
1301 -00:42:58,290 ~-~-> 00:43:10,620
1302 -personal opinion, it's worth losing sleep to watch this stuff unfold, because it
1303 -teaches you so much about price action. Okay. So now, there's the the model I
1304 -
1305 -263
1306 -00:43:10,620 ~-~-> 00:43:22,680
1307 -used for the closing price right there. And I'm going to put that in here. Okay,
1308 -I'm just gonna rough it. Right about there. That's where I had the the closing
1309 -
1310 -264
1311 -00:43:22,680 ~-~-> 00:43:38,310
1312 -price. We walk forward. Let me see if I got the dividers in him. Not sure if I
1313 -have one. Yeah, here's the horizontal line. Look where the price closes. On that
1314 -
1315 -265
1316 -00:43:38,310 ~-~-> 00:43:46,680
1317 -day, it starts a new date, right where I had outlined. Now what I write about
1318 -all this range down here, No, I wasn't right about that. But I wasn't right
1319 -
1320 -266
1321 -00:43:46,680 ~-~-> 00:43:54,150
1322 -about the day. I was worried about the bias, I was worried about my entry. And
1323 -that's enough. I don't have to be perfect. And my weakness. I've already been
1324 -
1325 -267
1326 -00:43:54,150 ~-~-> 00:44:03,240
1327 -very public and candid about this. My weakness in my trading is my exits. And
1328 -I've always been trying to find ways to improve that. And every time I think I
1329 -
1330 -268
1331 -00:44:03,240 ~-~-> 00:44:11,070
1332 -got it, I just go back to what I'm comfortable with what you see me do. I scale
1333 -out logical positions. And I always exit before I think where it's going to
1334 -
1335 -269
1336 -00:44:11,070 ~-~-> 00:44:18,600
1337 -ultimately go. And that's it. And I think it's ingrained in me from Larry
1338 -Williams because that's his exit strategy to you know, as long as it's in his
1339 -
1340 -270
1341 -00:44:18,600 ~-~-> 00:44:28,740
1342 -favor. It's like bailout. It's my version of his bailout, bailouts the first
1343 -profitable opening? Okay, sure. Wonder what that was. So let's go back over to
1344 -
1345 -271
1346 -00:44:28,740 ~-~-> 00:44:36,510
1347 -this hourly chart. And we'll wrap this video because we're going a little bit
1348 -long winded. So price has that big move and I told you I was gonna sit on the
1349 -
1350 -272
1351 -00:44:36,510 ~-~-> 00:44:43,440
1352 -sidelines, okay. And on the next day, we have a little bit of a consolidation
1353 -day. But the main thing I want you to look at is how price each day takes out
1354 -
1355 -273
1356 -00:44:43,440 ~-~-> 00:44:51,360
1357 -the previous day's low. Does it here. Here's this days here, and we take it out
1358 -here then we have a nice little retracement. But what is it retracing up to?
1359 -
1360 -274
1361 -00:44:52,110 ~-~-> 00:45:07,470
1362 -What did it do here? Is there anything significant about this? When we have a
1363 -rally up here? If we go and use a fib On this. We had the highest body all the
1364 -
1365 -275
1366 -00:45:07,470 ~-~-> 00:45:18,840
1367 -way down to the lowest body rate. And here were the lowest body and the highest
1368 -body. Does it give us an optimal trade entry in here? No. Did you need this last
1369 -
1370 -276
1371 -00:45:18,840 ~-~-> 00:45:28,110
1372 -trade? No, you didn't need that. This day here could have been a losing day, it
1373 -could have been a profitable day, depending on what you do with it. Is it bad
1374 -
1375 -277
1376 -00:45:28,110 ~-~-> 00:45:36,660
1377 -that you missed anything? No. Is it bad? Did you miss this trade based on an
1378 -optimal trade entry not being there, based on this particular timeframe? No, you
1379 -
1380 -278
1381 -00:45:36,660 ~-~-> 00:45:47,370
1382 -didn't miss anything. But if you know that there's a likelihood for price to
1383 -have gone. Just back above this high here for false breakout or run stops out
1384 -
1385 -279
1386 -00:45:47,370 ~-~-> 00:45:54,270
1387 -for those they're trailing stop loss orders tight. Now as they say they sold
1388 -short up here. And now their stock would be here, it went right to that level,
1389 -
1390 -280
1391 -00:45:54,690 ~-~-> 00:46:01,230
1392 -and then starts to drop down. So we're gonna look at this little area right
1393 -here. And you can see we ran out yesterday's low with this move here. But
1394 -
1395 -281
1396 -00:46:01,230 ~-~-> 00:46:15,330
1397 -ultimately, I said 131 45 was the level I was looking for for the week. 131 45
1398 -is right. There, we went down just below it by a little bit. And look at the
1399 -
1400 -282
1401 -00:46:15,330 ~-~-> 00:46:26,310
1402 -reaction off of that. This movement right here. Now, I'm not going to go into
1403 -why I believe 131 45 was a good level here, just know that it was before the old
1404 -
1405 -283
1406 -00:46:26,310 ~-~-> 00:46:30,570
1407 -low. And again, that's enough. This is the old low back here.
1408 -
1409 -284
1410 -00:46:31,230 ~-~-> 00:46:39,480
1411 -It may not go down below that low. But if it gets back down in this area, that's
1412 -good enough for me. And that's all I look for what looked for 131 45 because
1413 -
1414 -285
1415 -00:46:39,480 ~-~-> 00:46:46,770
1416 -it's one little five level below the 50, level 3150. And it just makes sense for
1417 -me to reach that level. And it's as simple as that. Try not to read more into
1418 -
1419 -286
1420 -00:46:46,770 ~-~-> 00:46:54,930
1421 -it, you don't need to have every answer. Just know that that's a good level of
1422 -reach work and old Whoa. But it may not have to go through it. Okay, and that's
1423 -
1424 -287
1425 -00:46:54,930 ~-~-> 00:47:01,740
1426 -enough of a range from here, down to there. And you watched it unfold. I gave it
1427 -to you in detail. I told you how to trade the setups each day. But I want to
1428 -
1429 -288
1430 -00:47:01,740 ~-~-> 00:47:11,070
1431 -look at this little portion price action right there. And give you something to
1432 -think about and we close. I know this is a little bit of a longer video, but I
1433 -
1434 -289
1435 -00:47:11,070 ~-~-> 00:47:23,460
1436 -haven't. I didn't get a chance to talk to you guys yesterday. And I didn't have
1437 -any videos up. But inside this little block of price action in here. Okay. Let's
1438 -
1439 -290
1440 -00:47:23,460 ~-~-> 00:47:35,220
1441 -do this. That is the beginning of the day. So we're going to go to four o'clock
1442 -in the morning. On this platform is midnight, New York time, by the way. So if
1443 -
1444 -291
1445 -00:47:35,220 ~-~-> 00:47:46,230
1446 -you ever see four on forex, Ltd, in my videos, that's delineating midnight, New
1447 -York. Okay. So let's zoom in a little bit in here. And we have the opening price
1448 -
1449 -292
1450 -00:47:46,590 ~-~-> 00:48:02,610
1451 -right there. So the opening price comes in at 3212. To 3212. We have price
1452 -opening up and the end, the actual high ends up going to be 3225 to 3225. Excuse
1453 -
1454 -293
1455 -00:48:02,610 ~-~-> 00:48:14,790
1456 -me, is the highest point reaches post midnight New York time creates the Hi. I'm
1457 -gonna say there's nothing up here to give us a reason to justify a move here. No
1458 -
1459 -294
1460 -00:48:14,790 ~-~-> 00:48:23,010
1461 -problem. Price does what it breaks down. It does what? Yeah, breaks down below
1462 -what the opening price of midnight. So we're going to draw a horizontal line on
1463 -
1464 -295
1465 -00:48:23,010 ~-~-> 00:48:35,760
1466 -there. Okay, and again, what was the what was the theme for this week? expect
1467 -3145 expect lower prices on cable? Okay, fine. That means any rally, we want to
1468 -
1469 -296
1470 -00:48:35,760 ~-~-> 00:48:46,380
1471 -look for suspect price action onwards, it's going to go down. So the opening
1472 -price is here and use that same idea I told you earlier. If you can't be up to
1473 -
1474 -297
1475 -00:48:46,380 ~-~-> 00:48:53,760
1476 -trade this live, and there may or may not I'm not going to tell you anything
1477 -mentorship would see this stuff but you may not say you don't see anything in
1478 -
1479 -298
1480 -00:48:53,760 ~-~-> 00:49:02,790
1481 -here to justify selling short here. Great, no problem. What's the rule saying?
1482 -It's got to go back to the opening price. Okay, you can be a seller Still, if
1483 -
1484 -299
1485 -00:49:02,790 ~-~-> 00:49:13,290
1486 -you do a sell stop below the opening price. That's just as well as it's doing
1487 -any other trade. Now. Look what's going on inside this little area price post.
1488 -
1489 -300
1490 -00:49:13,740 ~-~-> 00:49:22,830
1491 -Midnight time right in here. Look closely before I draw any anything on the
1492 -chart. I want you to see it like that.
1493 -
1494 -301
1495 -00:49:35,730 ~-~-> 00:49:52,950
1496 -fifth highest open or close right here. down to the lowest body open or close.
1497 -We're going to zoom in right there. already here to trolls. Oh Here he goes.
1498 -
1499 -302
1500 -00:49:53,070 ~-~-> 00:50:03,870
1501 -Don't mind sites though. It's the same rules. Okay. It's the same stuff. You're
1502 -going to do this every single trading day. In your own charts, okay. So let me
1503 -
1504 -303
1505 -00:50:03,870 ~-~-> 00:50:19,500
1506 -put that vertical line back on side to get that box off. And it was right where
1507 -I needed to be at. Scrub this over here. Right there, it's midnight. So we have
1508 -
1509 -304
1510 -00:50:19,500 ~-~-> 00:50:29,730
1511 -a rally up. And this really should be right there. The opening price of that
1512 -candle, this candle right here is opening. That's the opening price at midnight.
1513 -
1514 -305
1515 -00:50:30,210 ~-~-> 00:50:42,510
1516 -So anything above it, you want to sell it. And if it trades back to it. Right
1517 -here, it's acting as resistance and optimal trade entry. Right in here. Right
1518 -
1519 -306
1520 -00:50:42,510 ~-~-> 00:50:58,050
1521 -there. Okay. There's your sell off, and finally reaches for what target 131 45
1522 -and then ultimately does what it bounces. Knock where it's at now. Personally
1523 -
1524 -307
1525 -00:50:58,050 ~-~-> 00:51:03,840
1526 -gun to my head, because I'm sure everybody wants to do this. What's going to be
1527 -right now? ICT? What's going to be written down? I don't care what's already
1528 -
1529 -308
1530 -00:51:03,840 ~-~-> 00:51:10,680
1531 -happened to me what's going to happen right now? I don't know. I don't know
1532 -what's going to do. Why? Why am I feeling comfortable telling you? I don't know.
1533 -
1534 -309
1535 -00:51:10,710 ~-~-> 00:51:18,360
1536 -Is it because I'm ducking and weaving? No. Because it's already hitting my
1537 -objective. I don't know what it's gonna do now. Can it go lower? Sure. Could do
1538 -
1539 -310
1540 -00:51:18,360 ~-~-> 00:51:27,780
1541 -I want to trade it again now? No, because it's already hit my objective. So
1542 -there has to be a battery life that's definable in terms of like, this is what
1543 -
1544 -311
1545 -00:51:27,780 ~-~-> 00:51:37,410
1546 -it begins. And this is where it ends. There's a lifecycle to your trade. And
1547 -mine has been expired. It hit my objective. So I don't have another opinion yet.
1548 -
1549 -312
1550 -00:51:37,800 ~-~-> 00:51:48,090
1551 -When new technicals shape up and provide me reasons to frame one. I'll share it,
1552 -but for now, it This is my one shot, one kill. This is what I look for every
1553 -
1554 -313
1555 -00:51:48,090 ~-~-> 00:51:57,450
1556 -single week. Did I get the absolute low of the week? Well, the low comes in in
1557 -this platform. I'm not sure what your low was. But and in fact, if if you
1558 -
1559 -314
1560 -00:51:57,450 ~-~-> 00:52:09,240
1561 -wouldn't mind on twitter at my Twitter handle at I underscore m underscore ICT
1562 -if you would tweet your lowest low today, on GBP USD, I appreciate it. That way
1563 -
1564 -315
1565 -00:52:09,240 ~-~-> 00:52:21,240
1566 -we can get a feel for how much of a despair it is across all different platforms
1567 -live and demo. But the low comes in at 131 37. Okay, so I'm off by eight pips.
1568 -
1569 -316
1570 -00:52:22,470 ~-~-> 00:52:36,030
1571 -On the weekly low. I was off by four pips, near the highest high of the day,
1572 -entering short. Now, to me, that's pretty friggin precise. And that's really
1573 -
1574 -317
1575 -00:52:36,030 ~-~-> 00:52:45,240
1576 -precise. You couldn't convince me when I first started that you can get within
1577 -50 pips of a daily high and low, two times a year, because I was taught prices
1578 -
1579 -318
1580 -00:52:45,240 ~-~-> 00:52:54,270
1581 -random. And this is the last thing I'm gonna say in closer today's session.
1582 -There's absolutely nothing random about price action. There's zero randomness,
1583 -
1584 -319
1585 -00:52:54,270 ~-~-> 00:53:05,370
1586 -the price action. Today, I've given you very clear Hallmark examples that are
1587 -generic characteristics that repeat themselves every single day, every single
1588 -
1589 -320
1590 -00:53:05,370 ~-~-> 00:53:16,230
1591 -week, week in and week out, day in and day out. ICT stuff is always there. Now,
1592 -am I going to participate in every setup? Absolutely not. Am I going to show you
1593 -
1594 -321
1595 -00:53:16,230 ~-~-> 00:53:25,170
1596 -examples that did not participate in I did today. But you watch me do something
1597 -that I outlined before the fact and anyone that says I have to do this or do
1598 -
1599 -322
1600 -00:53:25,170 ~-~-> 00:53:32,340
1601 -that. I'm not answering to those individuals. I don't have to do this. I don't
1602 -have to do any of these things. I do it because I enjoy it. I'm not going to
1603 -
1604 -323
1605 -00:53:32,340 ~-~-> 00:53:39,870
1606 -jump through hoops for anyone. But I want you to know this and write this in big
1607 -bold letters in your notebook and underline it, highlight it, date it sign your
1608 -
1609 -324
1610 -00:53:39,870 ~-~-> 00:53:51,960
1611 -name next to it. price action is not random. It's manipulated. And until next
1612 -time, I wish you good luck and good trading.