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Version 1.1 by Drunk Monkey on 2020-12-09 06:11
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3 ICT: Okay, folks, just a little bit of a commentary on euro dollar. And I want
4 to kind of walk forward with this, because one day at a time, see how price
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8 starts to move above this short term high, which will draw
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12 a small trendline offer delineate, horizontal resistance price one. You see
13 price eventually trades through its high. It's a break in market structure. So
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17 we go back down to this low anchor fib on the lowest portion, or have it open or
18 high, I'm sorry, open or close. Or focusing on the bodies, and the highest open
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22 or close in the swing here. Now, if price trades through it, then we'll use the
23 higher body candle to anchor to trail, we're looking at this area in here. Okay,
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27 and price trades down into it right there. At that moment, that would be a buy.
28 And we will be targeting this all high back here. Okay, your first scaling
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32 profit price starts to run in here, and I want to kind of like show you
33 something right in here. Okay, we have a low that's violated here. And price
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37 rallies away. Got a horizontal line
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41 here on the order block. So we'll have a couple different things we can
42 reference in here. The open on this particular candle comes in at 1756, which
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46 you see here. So DVD six, I'm going to drop down into a 15 minute timeframe.
47 Okay, here we are a 15 minute timeframe for the euro dollar. We can see price
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51 starting to rally. Here's a nice entry level here. Now it did violate a little
52 bit in here. But we rally through and showed it breaking market structure even
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56 on a 15 minute time frame right here. Price rallies away, eventually takes out
57 short term high. And then once to do this, it's a deeper retracement and right
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61 into another optimal trade entry. And then as it trades down to the 62%
62 retracement level relative to the Fibonacci that we overlaid on the daily chart.
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66 So it's a hard timeframe daily. But notice also what we can see in reference to
67 this price swing, we see price as an opportunity, an overlapping optimal trade
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71 entry body while using this one, not this one down here. This one has the most
72 dynamic price action away from this low Yes, it was a nice little rally but here
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76 a lot more energy behind it. And using the body hi here and low as a reference
77 point. And we have the 62 and almost a 70%. So he point five rather percent on a
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81 fib retracement right there. Now if we use this low here and use the lowest body
82 of the candles there as well, we can get a really nice overlap as well in
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86 regards to the 79% level
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90 here, your 79% and the 70.5 level. Now move it around again so you guys can see
91 it. Okay. There's a lot of Confluence right there now as price was dropping
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95 down. That would probably be a little scary and a little frightening for someone
96 that would be either bullish or in a long position. They could have stopped you
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100 if you had trailed too tightly on chilled, sell stop. And now what I want to
101 look at is one of the patterns I believe are very, very strong. And it's the
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105 breaker and you'll learn about this also in the tutorials. But in here, I want
106 you to take notice that Lowe's is an hour away Aren't this low here has a bunch
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110 of cell stops below it. How do I know that? Well, it price trades away. And
111 rallies anytime that occurs, we simply assume that there's going to be a
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115 liquidity pool of sell stocks resting below that price trades lower takes up
116 that low, right there, sell stops are gone. And then price rallies. At some
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120 point in the future, when price comes back down into this high, it will be
121 bullish. Okay. And I'll teach you all the reasons why that's the case in the
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125 tutorials. But for now, just noticed that we have if we have a low and then a
126 lower low and price rallies and breaks market structure, when that occurs, go
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130 back to the old high here, if price trades back down into that, as we see here,
131 it's bullish. Now. We also have examples of this in form of bearishness. This is
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135 a bullish market structure pattern. A bearish market structure pattern would be
136 this one here, we have a high price starts decline, what would be above that
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140 high buy stops? Why do we know that because price started to decline. And we had
141 to assume that someone's in there with a position and where were their stop me
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145 right about this high price rallies through that and taking out the stops. And
146 then once that occurs, our attention goes right to the low prior to that run on
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150 the stops. At some point in the future. This is going to be a bearish scenario.
151 If it's trading back up to it, we trade below it here, right there. Price comes
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155 back up trades into it here. So it's similar to this
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159 right there and down to the body there and goes right to the middle of the
160 breaker there and sells off until it gets to a bullish breaker and trade tire.
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164 Okay, up to a bearish order block, nails it beautifully here and now we had some
165 retracement as a result. So you can see how using breakers as you'll learn in
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169 the tutorials. One of the best ways to formulate an understanding of market
170 structure is to incorporate these particular price patterns. Now right away,
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174 you're probably not going to be able to capture this or see this in charts. You
175 have to practice and look for them. I'll give you ways of doing that in the
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179 tutorials but for now. So I just want to share with that idea mine tonight how
180 euro has traded this week. And I have not taken any trades for disclosure sake.
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184 But it's a wonderful example for those that have already gone through my
185 tutorials. It's rare, the notes perfectly delivered in terms of what I outlined
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189 for bullish and bearish breakers. That's gonna be it for tonight. And hope you
190 have a pleasant weekend. Have you enjoyed this week with me and commentary and
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194 examples and until next week, I wish good luck and good trading