Skip to Content
Version 1.1 by Drunk Monkey on 2020-12-09 06:11
Show last authors
1 1
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
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.