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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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,

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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market started trading. I

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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.

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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

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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

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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

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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.

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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

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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

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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,

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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

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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

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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

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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

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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.

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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

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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

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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

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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

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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

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necessary for you to be doing this is

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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,

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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

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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

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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

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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

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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

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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

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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

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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

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days, and then it will retrace and go into the clothes.

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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among them.

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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

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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

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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

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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.

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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,

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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

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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

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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

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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

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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

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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

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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,

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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

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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

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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

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right here, it looks like it's the highest one and see what that opens 3305. And
the token on here is

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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

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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

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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

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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

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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

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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

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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

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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

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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,

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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.

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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

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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.

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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

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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

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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.

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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

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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

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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.

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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

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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.

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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

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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

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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

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defines this optimal trade entry right there. The time of the day that this
occurs

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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

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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

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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

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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

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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,

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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

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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

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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

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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

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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,

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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

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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

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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

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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,

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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example, trading the British Pound short, I have

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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,

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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

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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

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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,

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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

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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

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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

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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

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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,

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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

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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

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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.

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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

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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

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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

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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

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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

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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

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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.

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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

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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

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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

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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

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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

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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

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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

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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

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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,

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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

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high. Okay. Now what happens, if you

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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

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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

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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

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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

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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

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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,

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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

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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.

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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?

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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

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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

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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

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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

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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

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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,

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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

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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

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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

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low. And again, that's enough. This is the old low back here.

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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.

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Midnight time right in here. Look closely before I draw any anything on the
chart. I want you to see it like that.

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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.

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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

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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

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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.

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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

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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

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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

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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.

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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

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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

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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.

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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

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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

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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

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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.

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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

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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

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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,

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the price action. Today, I've given you very clear Hallmark examples that are
generic characteristics that repeat themselves every single day, every single

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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

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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

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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

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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

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name next to it. price action is not random. It's manipulated. And until next
time, I wish you good luck and good trading.